Last year, we achieved over S$600MM in total global asset divestments as part of our capital recycling initiative. Completed divestments include the Ransome’s Wharf site in London, the freehold 8-storey industrial building Cideco Industrial Complex, as well as various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza, in Singapore. The divestment of the retail and office components of Hong Leong City Center (HLCC), a mixed-use development in Suzhou, is under contract and slated for completion in Q1. Mr Sherman Kwek, CDL’s GCEO, said, “The asset divestments reflect our focus on accelerating our capital recycling initiatives. While market conditions have made divestments challenging, we are glad to have achieved good momentum, and we will continue to push forward with our divestment plans. We aim to optimise our capital management while holistically calibrating our portfolio to ensure alignment with our strategic objectives and to maximise shareholder value.” Looking ahead, we continue to advance our capital recycling initiatives, with several other divestments in the pipeline. Read more: https://lnkd.in/gjipG_hW Images in order: Hong Leong City Center (Suzhou), Ransome's Wharf (London), Cideco Industrial Complex (Singapore) #CityDevelopments #RealEstate #Divestments #CapitalRecycling #Singapore
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