CDL Investment Plan Targets S$5 Billion Growth by 2029

City Developments Limited (CDL) has announced a three year growth strategy that will see the Singapore based property group invest S$5 billion across key markets while targeting S$6 billion in asset divestments by 2029.

The CDL investment plan, named “Get+”, will focus on four sectors: residential, commercial, hospitality and living. Singapore will remain the company’s main investment market, accounting for about 60% of its planned growth capital. China and Japan will together receive another 30%, with the remaining 10% allocated to other markets.

CDL Investment Plan Focuses on Property Growth

The S$5 billion investment programme will support opportunities across CDL’s key property sectors. The company’s Singapore development pipeline includes projects such as Newport Residences, Zyon Grand, Union Square Residences, The Orie and Lucerne Grand, along with future government land sale opportunities.

CDL also plans to recycle capital through asset divestments. It is targeting more than S$6 billion in cash inflows from divestments and property development sales through 2029. Commercial assets are expected to account for 45% of the targeted divestments, followed by hospitality at 30%.

Hospitality Assets Remain a Key Focus

Hospitality will form an important part of the CDL investment plan, with the group targeting around S$1.8 billion in hotel divestments by 2029. CDL currently has a global hospitality portfolio of 165 hotels with about 48,000 rooms.

The company plans to retain core hospitality assets while improving selected properties and divesting assets where it sees opportunities to recycle capital. The hospitality strategy is intended to optimise the portfolio while creating funds for future investments.

CDL is also planning to expand its fund management business. The group aims to double its assets under management from about S$5 billion in June 2026 to S$10 billion by 2029. The company plans to establish a dedicated fund management platform covering listed real estate investment trusts, private funds, partnerships and joint ventures.

Through the strategy, CDL aims to strengthen its property portfolio, recycle capital from existing assets and increase investment in selected growth markets. The company is also targeting more than S$1 billion in profit after tax and minority interests from divestment gains during the three year period.