Billionaire Kwek Family’s CDL Sells Stake In Singapore’s South Beach To Malaysia’s IOI Properties

CDL to Sell $2.1 Billion Singapore Office Site to Cut Debt

Billionaire Kwek Family’s CDL Sells Stake In Singapore’s South Beach To Malaysia’s IOI Properties

Under the deal, IOI Properties will buy CDL’s 50.1% stake in South Beach in a deal valuing the the property at S$2.75 billion ($2.1 billion).

Singapore billionaire Kwek family’s CDL to sell $2.1B office complex to reduce debt, restore investor confidence after public father-son feud

CDL Selling 50% Stake in Singapore's South Beach to IOI - Mingtiandi

SGX-listed City Developments Ltd has agreed to sell its 50.1 percent interest in a central Singapore mixed-use complex to its joint venture partner, Malaysia’s IOI Properties Group, in a deal valuing the asset at S$2.75 billion ($2.1 billion). CDL is... Read More>> The post CDL Selling 50.1% Stake in $2.1B Singapore Complex to JV Partner IOI Properties appeared first on Mingtiandi.

Singapore’s CDL Sells Majority Stake To Malaysia’s IOI Properties Group

Despite being the minority stakeholder now, IOIPG will gain complete ownership of Singapore’s South Beach complex, valued at $2.75 billion, following the completion of the deal.  Plagued with debt and declining investor confidence after a family feud that nearly devastated the company, Singapore-based company City Developers (CDL) has decided to sell its majority stake in one of the country’s South Beach complex. CDL and Malaysian developer IOI …

Who is behind Malaysia’s IOI Properties Group?

Property developer IOI Properties Group (IOIPG) is poised to grow its Singapore presence with the acquisition of the remaining 50.1 per cent stake in the South Beach development that it does not already own, from its joint venture partner City Developments (CDL).