Tag Archives: City Developments Limited

Terrace housing development gets BCA Green Mark Platinum award

Posted on 22 May 2012 | Comments Off on Terrace housing development gets BCA Green Mark Platinum award

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A terrace housing development in Serangoon Gardens has become the first landed residential estate to achieve the Building and Construction Authority’s (BCA’s) top-tier Green Mark Platinum award.

HAUS@SERANGOON GARDEN, which comprises 96 landed terrace houses located at Serangoon Garden Way, is developed by City Developments Limited (CDL) and is slated for launch in the middle of the year.

The development uses both passive and active green building approaches to ensure that a comprehensive sustainable design is incorporated from the beginning.

Each house is equipped with state-of-the art green technology for energy and water efficiency.

It is the first landed housing development in Singapore to have a one kilowatt-peak photovoltaic (PV) system.

The solar power generated by the PV system helps to offset the grid electricity consumption by the refrigerator and reduces utility bills.

Rainwater will also be collected for gardening use.

The project also features an innovative air-conditioner heat recovery system, in which waste heat generated by the air-conditioner is used to provide house owners with hot water in the bathrooms.

Approximately four per cent of the total construction cost was invested into the development of the estate’s green innovations, which is expected to result in up to 40 per cent energy savings for each house.

Mr Kwek Leng Joo, managing director of CDL, said, “HAUS@SERANGOON GARDEN is a landmark residential development for us as we are able to deliver significant measurable and direct cost benefits to individual homebuyers over a long-term period.

“Through the extensive “greening” of each and every house within HAUS@SERANGOON GARDEN, we seek to create an integrated community of green homes that will inspire greater eco-consciousness across the larger Serangoon Garden residential enclave.”

Commenting on HAUS@SERANGOON GARDEN, Dr John Keung, CEO of BCA said, “This is a first time we have awarded the Green Mark Platinum rating to a landed housing estate in Singapore.”

“We are indeed encouraged to see developers like CDL and Hong Realty making the effort to bring environmentally sustainable designs to not only high-rise buildings but individual landed homes.”

“This project would serve as a good prototype for green landed housing in future and even for reference by existing homeowners who are looking to retrofit and improve the energy efficiency of their landed homes,” he added.

Source : CNA – 2012 May 22

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Posted in Developers, Landed Property

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CDL posts 44.5% fall in Q1 net profit

Posted on 10 May 2012 | Comments Off on CDL posts 44.5% fall in Q1 net profit

Singapore real estate developer City Developments Limited (CDL) posted a 44.5 per cent on-year decline in its first-quarter net profit at S$156.8 million.

In a statement issued on the Singapore Exchange, CDL said its revenue rose 9.4 per cent on-year to S$846.7 million for the three months to 31 March 2012.

CDL added that its net profit for Q1 did not register a corresponding increase partly due to substantial gains recognised in Q1 2011 on the disposal of the corporate office.

The developer said its property development segment remained the largest contributor to the group’s pre-tax profit. During the quarter, CDL launched two new developments – The Rainforest at Choa Chu Kang area and Bartley Residences along Bartley Road.

It added that The Rainforest, a 466-unit Executive Condominium (EC), has been well received with 94 per cent of the units sold. Meanwhile, 290 units out of the 350 units launched under Phase 1 at Bartley Residences have been sold.

CDL said it is preparing to launch the trendy UP @ Robertson Quay along Singapore River very shortly. The new property will comprise 70 high-end apartments and loft residences as well as a 300-room new lifestyle concept hotel known as M Social.

Another project which CDL plans to launch in the first half of this year is HAUS @ SERANGOON GARDEN, a landed housing development with 96 terrace units.

CDL also believes that its Quayside Isle project in Sentosa has not reached its full potential, and the full value of the property will be more evident in the second half of the year when the retail component and the hotel are operational.

The Quayside Isle project includes The Residences at W Singapore Sentosa Cove, a 240-room W Singapore Sentosa Cove hotel and retail outlets.

Going forward, CDL said it is optimistic that the gradual economic recovery will help improve sentiments for the high-end residential market.

It added that the strong Singapore dollar, liquidity in the market, low interest rate environment, favourable housing loans and lack of other stabilised investment products are also factors that have continued to sustain property investments in Singapore.

CDL said with its diversified portfolio of assets, strong balance sheet and prudent management, it expects to remain profitable in the current year.

Source : CNA – 10 May 2012

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Posted in Developers, Property Market / Real Estate, Property Price, Sentosa Property

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