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A QUARTERLY UPDATE BY CITY DEVELOPMENTS LIMITED

RENEWAL AND TRANSFORMATION

In his New Year message, CDL Group CEO Mr Sherman Kwek maps out transformative pathways for CDL to navigate

and charge forward for the year ahead.

CDL Executive Chairman’s Global Blue Ocean Shift Award

CDL Appoints New Group Chief Investment Officer

M&C Middle East Tops World Travel Awards

JAN — MAR 2018

CITYNEWS

LETSTALK LETSTALK

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GROUP CEO’S NEW YEAR MESSAGE:

RENEWAL AND TRANSFORMATION

Each new year brings fresh perspectives and exciting opportunities while also affording us the chance to reflect on the past and strive for greater improvement.

Real estate is considered by many to be the bedrock of Singapore’s economy. After several years of persistent headwinds and slower growth, there is the belief that 2018 will be a significantly better year.

In 2017, we saw the first uptick in private residential prices in Q3 and increased housing transaction volumes. This augurs well for 2018 and many analysts and market-watchers anticipate a rebound of Singapore’s property market this year. With the global economy on a reflationary path and rosier economic outlook domestically, we are cautiously optimistic that this positive momentum will gradually strengthen into a sustainable recovery.

Extending Our LeadSince 2010, we set about establishing growth platforms in our key overseas markets of China, UK, Japan and Australia. This strategy enabled us to effectively navigate the headwinds we faced in the Singapore property market.

Yet, while we grew our real estate development platforms overseas, we continued to keep our fingers on the pulse of our home market. Singapore is a market we know intimately and where we have operated for over 50 years. Over the past few years, we continued to remain active in our real estate development activities in Singapore with new launches and strategic bids to bolster our landbank.

Despite the absence of a new launch, our Singapore property development segment achieved a strong performance in 2017. CDL, together with our joint-venture (JV) partners, sold a total of 1,171 units, including Executive Condominiums (EC), with a total sales value of over S$1.9 billion last year. By comparison, in 2016, CDL and our JV partners sold 1,017 units with a sales value of about S$1.25 billion. On a consolidated basis, CDL’s parent company, Hong Leong Group again emerged as the top developer with the most number of units sold in Singapore for 2017, as reported by Lianhe Zaobao.

In January this year, we soft launched the 124-unit New Futura on Leonie Hill Road. Designed by renowned architectural firm Skidmore, Owings & Merrill LLP (SOM), New Futura — with its unique organic, curvilinear form — is an architectural icon and landmark residence which reflects CDL’s commitment to design and build excellence.

The Tampines Avenue 10 site we acquired last year will be named The Tapestry and we will be launching the 861-unit project in March. Due to our competitive pricing and compelling design, we are anticipating a strong response.

Last year also marked our re-emergence in the local land tender scene as we clinched victory for the Government Land Sales (GLS) site in Tampines that I mentioned above and for Amber Park, the largest freehold en bloc deal in Singapore’s history. Together, these two sites will provide us with a formidable pipeline for the next few years.

This year, we made further headlines by topping two more GLS tenders in January 2018. One site is located on Handy Road while the other is in West Coast Vale. Both sites have great potential and we will endeavour to offer our customers a unique buying proposition when we launch.

Back to BasicsAs we continue to build for the future, it is also a timely juncture for us to strengthen our expertise and improve our culture. We cannot remain complacent and must continually strive for improvement. We need to focus on our execution and ensure that we continually raise the bar by creating outstanding developments that offer good quality and value to our customers. Ultimately, our customers are the reason we are still in business and it is very important that we truly look after them.

In order to facilitate this, I have just announced an internal reorganisation with the ultimate aim of delivering an improved experience for all of our homebuyers, tenants and business partners. This new structure will align everyone as a team to achieve the Company’s goals and promote stronger collaboration and teamwork across the various operating departments. To strengthen our brand position and product proposition, we have also completed a strategic review of our development life-cycle.

The Way ForwardBeyond enhancing our product value proposition, another key focus is to enhance our recurring income segment through asset repositioning, strategic investments into new economy businesses and the establishment of a strong fund management platform.

Last year, we announced a S$60 million asset enhancement initiative to rejuvenate Republic Plaza, CDL’s flagship commercial property located in the heart of Singapore’s Central Business District. Aimed at catering to the evolving business landscape, the phased enhancement works will commence this year and will increase space efficiency and inject fresh vibrancy to this prime office development.

Since 2016, we started investing in synergistic sharing economy sectors, beginning with the acquisition of a 20% equity stake in mamahome — China’s fast-growing online apartment rental platform. This was followed by a 24% equity stake in Distrii, China’s leading operator of co-working space. CDL is currently still Distrii’s second largest shareholder after our participation in a recent round of financing which saw the entry of new Chinese investors.

Our strategic investment into both these platforms allow us immediate exposure to business segments with significant potential growth and future synergies. Both the mamahome and Distrii platforms provide scalability and can effectively complement our asset portfolio.

For instance, Distrii will open its first international outpost at Republic Plaza in the first half of this year. Spanning over 60,000 square feet, the space is expected to be one of the largest co-working facilities in Singapore and will offer a comprehensive array of office, F&B, entertainment and recreational options. The opening of this new facility complements our strategic repositioning plans for Republic Plaza.

By now, you would have also seen the announcement of our new Group Chief Investment Officer, Frank Khoo, who joined our Company on 1 February 2018. I am very excited to work with such a talented individual. Frank has over 20 years of international experience in fund management, private equity, acquisition of real estate assets and the repositioning and restructuring of real estate businesses. He has an extensive network of investors, ranging from insurance companies, pension funds, sovereign wealth funds and high net worth individuals across Asia and Europe.

Aside from leading our global investment efforts, Frank will be tasked with building up a fund management business that will provide us with strong recurring income over time while also enhancing the efficiency of our capital deployment. This may include establishing new co-mingled funds or joint ventures with various risk return profiles, acquiring existing fund management platforms and managing third-party capital. With Frank’s in-depth knowledge in fund creation and management coupled with his strong network, he will be instrumental in growing this business and eventually establishing CDL as one of the world’s leading asset managers.

There is also an increasing need for innovation. We are in the age of disruption and we must constantly evolve to avoid being displaced or made irrelevant. It is very important that we continue to challenge established paradigms and come up with better ways to do things. One thing for sure — we cannot stay status quo.

To enable us to evolve with speed and keep up with the rapid pace of change, we have set up an innovation committee comprising of young and talented individuals within our Company and chaired by Kwek Eik Sheng, our Group Chief Strategy Officer. We will be placing heavy emphasis on this committee to help us brainstorm for new ideas, products and platforms so we can provide a fresh and enhanced experience to our customers and even our own staff. This committee will be extremely critical to the success of our Company.

An Exciting Future2018 will be an exciting and transformative year ahead for us.

My vision is to see CDL remain strong for many decades to come and therefore I must start planting the seeds for the future.

I wish to thank each and every one of you for your continuous support of our Group, for standing by us during our most challenging times and also celebrating with us when we are blessed with success. I would also like to take this opportunity to wish everyone a Happy Lunar New Year.

Please join me on this incredible journey as we take the Company forward to even greater heights.

Mr Sherman KwekCDL Group Chief Executive Officer

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HOMERUNHOMERUN

CDL blazed through 2017, a year filled with significant change and progress. Here are some highlights of CDL’s awards and achievements throughout the eventful year.

2017— A YEAR OF MILESTONES

CDL Executive Chairman Mr Kwek Leng Beng was accorded the Lifetime Achievement Award at the Asia Pacific Entrepreneurship Awards 2017, in recognition of his outstanding achievements, visionary leadership and steadfast dedication that has led to the successful growth of CDL and parent company, Hong Leong Group for over five decades.

• The Venue Residences and Shoppes is a mixed development with 266 apartments and 28 retail and dining units located near Potong Pasir MRT station. Residential units at the joint venture project are all sold out.

• Gramercy Park, CDL’s 174-unit luxury freehold residential development along Grange Road achieved positive sales. As of 17 January 2018, Gramercy Park is 93% sold.

• Nestled close to the tranquil Lower Seletar Reservoir and lush greenery of Orchid Country Club, CDL's The Criterion Executive Condominium (EC), was named by global real estate services firm Jones Lang LaSalle as one of Singapore's top-selling EC projects in the month of October 2017.

TOP HONOURS

STRONG PROPERTY SALES

NEW FRONTIERS

• Singapore Corporate Awards 2017 – Best Investor Relations (Gold)

• Institutional Investor – Asia’s Most Honoured Companies Awards 2017 – Asia’s Most Honoured Company – Mid-cap

• IR Magazine Awards – South East Asia 2017 – Best ESG Communications (Joint winner)

• Securities Investors Association Singapore (SIAS) Investors’ Choice Awards 2017 – Shareholder Communications Excellence (Winner, Big Cap category) – Singapore Corporate Governance Award (Runner-up, Real Estate category)

BUILT INDUSTRY LEADER• Building and Construction Authority (BCA) Awards 2017 – Most-awarded private-sector property developer – First and only property developer to be awarded the inaugural top Quality Star Champion Award – Only Platinum winner for Construction Productivity Award – Advocates (Developer)

• EdgeProp Excellence Awards 2017 – Top Developer Award

• Euromoney Real Estate Survey 2017 – Best Residential Estate Developer in Singapore

• South East Asia Property Awards 2017 – Best Developer, Singapore

NEW PERSPECTIVES• CDL signed an agreement to invest RMB72 million for a 24% stake in Distrii, China’s leading co-working space operator. Distrii will mark its first international foray by leasing more than 60,000 square feet of space at Republic Plaza.

• JW Marriott Hotel Singapore South Beach officially opened its doors with a grand opening party in March 2017.

• CDL and joint venture partner Hong Realty (Private) Limited successfully tendered for the collective sale of the Amber Park condominium site for S$906.7 million. Situated in the exclusive Amber Road enclave in the East Coast area, the prime site has tremendous potential given its excellent locational attributes and rare freehold status.

• Millennium Hotels and Resorts expanded its M Social brand in Auckland, New Zealand, with the opening of M Social Auckland.

• CDL exchanged contracts to buy the freehold Ransomes Wharf site in Battersea South West London, with plans to develop a £222 million luxury residential project.

• Collaboration with Waterbrook Lifestyle Resorts to develop Waterbrook Bayview, a luxury five-star retirement village in Bayview, Sydney.

• CDL China entered into a strategic partnership with China Vanke Co., Ltd (Vanke), through a partial divestment of CDL China’s interests in two projects located in the Yuzhong District of Chongqing to the latter: 70% of Chongqing Huang Huayuan, and 50% of Eling Residences.

BUSINESS EXCELLENCE

SUSTAINABILITY FRONTRUNNER• CDL, through its wholly-owned subsidiary CDL Properties Ltd (CDLP) issued the first Green Bond by a Singapore Company.

• Official opening of the Singapore Sustainability Academy, the first major People, Public and Private (3P) initiative in support of global and national sustainability goals.

• Global 100 Most Sustainable Corporations in the World – Top Singapore Company – Most Sustainable Corporation in Real Estate Management & Development

• Singapore Sustainability Reporting Awards 2017 – Best Sustainability Report for Established Reporters (Mainboard and Catalist)

• SGBC-BCA Sustainability Leadership Awards 2017 – Green Building Business Leadership in Sustainability – Green Building Organisations: Business Leadership in Sustainability, Winner

• In December, through a joint venture partnership with First Sponsor and Tai Tak, CDL entered into a sale and purchase agreement for the proposed acquisition of the Le Méridien Frankfurt Hotel in Germany.

M Social Auckland

The Venue Residences

In July, CDL was awarded Gold in Best Investor Relations at the Singapore Corporate Awards (SCA) 2017. Pictured is CDL Group Chief Financial Officer Ms Yiong Yim Ming receiving the award from Mr Anthony Tan, Deputy Chief Executive Officer of Singapore Press Holdings Ltd (second from left) at the awards ceremony.

CDL was accorded Business Leadership in Sustainability at SGBC-BCA Sustainability Leadership Awards 2017. Pictured is CDL Group General Manager Mr Chia Ngiang Hong (second from right) receiving the award from Mr Lawrence Wong, Minister for National Development and Second Minister for Finance (second from left).

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CDL receives positive response for exclusive private viewings of its brand new luxury condominium, New Futura on Leonie Hill Road.

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STRONG TAKE UP FOR CDL’S LUXURY CONDOMINIUM NEW FUTURA

Located in Singapore’s prime District 9 neighbourhood, New Futura is an ultra luxury and highly exclusive 124-unit condominium located just a 10-minute walk to Orchard Road.

A rare, freehold development in land-scarce Singapore, New Futura is designed by internationally renowned award-winning architect — Skidmore, Owings & Merrill LLP (SOM) and comprises two 36-storey residential towers featuring stunning architectural fins and dynamic curved balconies.

Perched on an 87,000 square feet site on Leonie Hill Road, it offers mesmerising city views and a generous provision of 253 carpark lots, including 30 supercar lots.

All units have private lift access and come with exquisite finishes and fittings, such as fully-equipped kitchens with Miele appliances and Poggenpohl cabinets, and high quality sanitary wares and fittings from Hansgrohe, LAUFEN and Geberit in the bathrooms. Fine marble flooring in living / dining and Burmese teak in bedrooms with branded wardrobes are also provided in all units.

Offering unparalleled luxury living, New Futura features over 50 facilities including Infinity Lap Pool, Aqua Beds, Cabanas, Wellness Studio, Social Lounge, Pets’ Lawn and Epicure Dining. At Club Futura, a dual-level clubhouse, residents and guests can also enjoy private dining and alfresco barbecues.

New Futura’s six thematic sky terraces interspersed at various levels provide a wide range of facilities, all with mesmerising views of the city.

Residents can look forward to entertaining their guests at the dual-level Club Futura which comes with private dining and alfresco barbecue.

New Futura comprises two 36-storey residential towers with stunning architectural fins and dynamic curved balconies.

Artist’s Impression

Artist’s Impression

Artist’s Impression

New Futura is available for viewing by appointment only. Marketing agents for

New Futura are ERA, ETC, Huttons, PropNex and Savills.

For enquiries, please call the sales hotline: (65) 6877 1818

In addition, New Futura provides six thematic sky terraces and one fitness terrace set in lush landscape, where residents can enjoy panoramic views of the cityscape as they go about their leisure activities.

Signature Residential Services with well-trained and dedicated Residential Hosts are also on hand to take care of residents’ requests, be it making restaurant reservations, booking travel arrangements, or co-planning milestone celebrations.

Exclusive private viewings for New Futura’s South Tower started in mid January and as of the first weekend, 24 units (or 80% of the 30 units released) were sold, with an average selling price of S$3,200 per square foot. The units sold comprised a good mix of 2-, 3- and 4-bedroom units.

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Centred on the philosophy of global best-sellers, Blue Ocean Strategy and Blue Ocean Shift, the award given to Mr Kwek was in recognition of his efforts in opening up new frontiers of opportunity and growth and creating a new pipeline for economic expansion.

The inaugural Global Blue Ocean Shift Awards were handed out by Prime Minister Najib to Mr Kwek and other recipients, which included senior Malaysian officials, for their work in implementing the ‘blue ocean strategy’. The awards also recognised outstanding achievements made across the public, private and social sectors.

In his address, Prime Minister Najib said that since its introduction in 2009, the National Blue Ocean Strategy had been a key pillar in Malaysia’s transformation as the government followed what was known as the Blue Ocean Shift process to tackle a wide range of economic and social issues, and rapidly deliver high impact initiatives for the benefit of the people and at low cost to the government.

CDL won by a margin of 12.3% for the Handy Road / Mount Sophia tender (which had 10 bidders), and topped the tightly contested West Coast Vale tender (which had 6 bidders) by a 0.7% margin.

Mr Sherman Kwek, CDL Group CEO, said, “We are delighted to have submitted the winning bids for the two highly contested sites which have excellent locational attributes and proximity to various amenities. We have been very selective and see great potential in the two sites. We will focus hard on our execution and ensure that we continually raise the bar by creating outstanding developments on both sites that offer good quality and value to our buyers. As Singapore’s residential market begins to gradually recover, we will continue to seek suitable opportunities to increase our local land bank.”

HOMERUNHOMERUN

Mr Kwek Leng Beng, Executive Chairman of Hong Leong Group and CDL, was presented the Global Blue Ocean Shift Award by Malaysian Prime Minister Datuk Seri Najib Tun Razak at the Global Entrepreneurship Community Summit held in Kuala Lumpur in December 2017.

CDL, through wholly-owned subsidiaries CDL Regulus Pte. Ltd. and CDL Pegasus Pte. Ltd., has made the top bids of S$212,200,000 (or S$1,722 psfppr) and S$472,400,000 (or S$800 psfppr) for the 99-year leasehold residential sites at Handy Road / Mount Sophia and West Coast Vale respectively.

CDL EXECUTIVE CHAIRMAN RECEIVES INAUGURAL GLOBAL BLUE OCEAN SHIFT AWARD

Executive Chairman of Hong Leong Group and CDL, Mr Kwek Leng Beng (right) receiving the Global Blue Ocean Shift Award from Malaysian Prime Minister Datuk Seri Najib Tun Razak. (Photo credit: Bernama)

Handy Road / Mount Sophia site — If awarded, CDL’s proposed scheme for this site is three 8- to 10-storey residential towers with around 200 apartment units and a basement carpark. In addition, the conserved building at the site will be converted into a clubhouse.

“ I AM A BLUE OCEAN FAN AND I WAS SURPRISED TO RECEIVE

THIS AWARD AND AM GREATLY HONOURED. I AM ENCOURAGING MY HOTEL STAFF TO ADOPT THE BLUE OCEAN SHIFT MINDSET TO BE INSPIRED AND TO EMBRACE

INNOVATIVE SOLUTIONS TO STAY AHEAD OF THE COMPETITION.”

MR KWEK LENG BENG EXECUTIVE CHAIRMAN OF

HONG LEONG GROUP AND CDL

The Blue Ocean Shift ideology focuses on identifying untapped growth opportunities by moving from “red oceans” crowded with competition to “blue oceans” of uncontested market space and explosive growth.

A firm practitioner of the ideology, Mr Kwek was also on the panel discussion ‘Blue Ocean Entrepreneurship In Action’ at the two-day conference at the Kuala Lumpur Convention Centre, where 15,000 people from 89 countries attended. Mr Kwek, who is also Chairman of Millennium & Copthorne Hotels plc (M&C), shared with the audience how he is incorporating the Blue Ocean Shift in the workplace.

M&C’s hotels have taken steps to implement various activities to support Mr Kwek’s Blue Ocean vision. Staff from M&C around the world were also given a copy of the Blue Ocean Shift book and various learning activities were initiated. For example, M&C hotels in Singapore have a monthly staff recognition programme where the most innovative idea wins S$100.

CDL TOPS BIDS FOR HANDY ROAD AND WEST COAST VALE SITES

West Coast Vale siteSpanning across a large land area of 210,883 sq ft, the expansive site allows for generous landscaping and offers views of the Sungei Ulu Pandan river and low-rise landed houses. Situated within the established West Coast residential neighbourhood, the site enjoys close proximity to One-North and the upcoming Jurong Lake District, identified as the second Central Business District of Singapore by the government. Furthermore, it is also close to the upcoming High Speed Railway which will connect Singapore to Kuala Lumpur in just 90 minutes.

Providing convenient accessibility, the site is served by several feeder buses to Clementi Bus Interchange and MRT station which is just 2km away. Surrounding the site are many amenities including 321 Clementi, Clementi Mall, IMM, JCube, Jem and Westgate. Recreational options, such as Ayer Rajah Sports Centre, Jurong Lake Gardens, Pandan Reservoir and the Southern Ridges Park Connector Network, are also close by. The popular Nan Hua Primary School and Pei Tong Primary School is within 1km and 2km of the site respectively. Other reputable schools in the vicinity include Anglo-Chinese School (Independent), The Japanese School, National University of Singapore, Singapore Polytechnic and United World College South-East Asia (Dover Campus).

If awarded the site, CDL’s proposed scheme for this site is two 36-storey residential towers with about 730 apartment units and a basement carpark.

Handy Road / Mount Sophia siteLocated in prime District 9, the 51,626 square feet (sq ft) site is in a matured and highly sought-after private residential enclave. Situated on elevated land, it offers the potential to maximise city and skyline views. Enjoying unbeatable connectivity, the site is only 50 metres from Dhoby Ghaut MRT station (a triple line interchange), and is linked by a sheltered walkway to the MRT station. It is also within a short five-minute drive to the Central Business District, Marina Bay Financial District and Orchard Road Shopping Belt, and close to amenities such as Plaza Singapura, Manulife Centre, The Cathay, PoMo, Parklane Shopping Mall and Fort Canning Park, as well as the arts and museums district.

St. Margaret’s Primary School is within 1km of the site and other nearby reputable educational institutions include Anglo-Chinese School (Junior), LASALLE College of the Arts, Nanyang Academy of Fine Arts, School of the Arts, Singapore Management University and St. Joseph’s Institution (Junior).

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HOMERUN

In September 2017, CDL announced its second collaboration with Waterbrook Lifestyle Resorts to develop another luxury retirement village in Australia.

The proposed development is located in Bowral, New South Wales, approximately 118km to the southwest of Sydney. Named Waterbrook Bowral, it is near the Bowral and District Hospital and is well connected to major transportation nodes.

The tranquil environment at Bowral together with the iconic nature and vastness of the site provide an opportunity to create a premium retirement village development which the Group believes will be well -received by the growing retiree population in the area. Expected to be completed in 2021, the project is currently in the planning stages.

The Group will be participating through debt financing of A$22 million, for which the specific terms are confidential.

CDL EXPANDS IN AUSTRALIA’S BURGEONING LUXURY SENIOR HOUSING SECTOR

Spanning across an expansive 175,000 square-metre site, Waterbrook Bowral will provide a high-end hospitality experience including resort-style facilities and a vast array of services catered to retirees.

In August 2017, CDL entered into its first collaboration with Waterbrook Lifestyle Resorts to develop Waterbrook Bayview, on the Northern Beaches of Sydney.

For both projects, Waterbrook will provide resort-style facilities and a vast array of services catered to retirees including 24/7 concierge service, a variety of wellness and recreational spaces, chauffeured courtesy vehicles as well as in-house nurses. The product differentiates itself from the traditional retirement village model through its high-end hospitality experience.

The Group is positive on the luxury retirement sector as there is strong unmet demand from a growing demographic of well-heeled retirees who desire to live in upscale communities with a variety of facilities. It intends to collaborate with Waterbrook to set a new benchmark in Australian retirement living and expand the brand throughout Australia and other parts of the world.

Artist’s Impression

Mr Frank Khoo, AXA veteran, joins CDL as Group Chief Investment Officer (CIO) with effect from 1 February 2018.

As Group CIO, Mr Khoo will assist CDL Group CEO Mr Sherman Kwek in sourcing and executing new investment opportunities while also setting up a dedicated fund management platform.

With over 20 years of international experience in fund management, private equity, acquisition of real estate assets and the repositioning and restructuring of real estate businesses, Mr Khoo has an extensive network of investors, ranging from insurance companies, pension funds, sovereign wealth funds and high net worth individuals across Asia and Europe.

Most recently, as the Global Head of Asia of AXA Investment Manager — Real Assets (AXA IM Real Assets) from 2008 to 2017, Mr Khoo oversaw all real estate activities for them in Asia, including investment, transaction, fund management, asset management, capital raising and finance. Under his leadership, he built the Asian business from scratch, putting together teams in Australia, Singapore, Korea and Japan and eventually achieved total Assets Under Management (AUM) of S$10 billion for Asian clients in Asia and Europe. The financial performance of all investments under his portfolio, regardless of debt or equity, have out-performed pre-set target returns.

Prior to that, he was Senior Vice President at Pacific Star Fund Management Pte Ltd, where he managed the fund management activities and launched two funds — Pan Asia Development Fund and Singapore Residential Fund, raising capital from overseas investors and private banks. Over the years, he also held various executive positions in Guthrie GTS Ltd, Phileoland Bhd and Kestral Capital Partners.

Mr Khoo holds a Masters of Business Administration from Nanyang Technological University, Singapore, as well as Bachelor of Engineering (Honours) and Bachelor of Science degrees from University of Queensland, Australia. He is also a Certified Public Accountant in Singapore. Mr Sherman Kwek, CDL Group CEO, said, "We warmly welcome

CDL APPOINTS GROUP CHIEF INVESTMENT OFFICER TO SPEARHEAD FUND MANAGEMENT ACTIVITIES

“ IN THE PAST FEW YEARS, CDL HAS LEVERAGED OUR STABLE OF HIGH QUALITY ASSETS TO DEVELOP ONE-OFF, CLOSED-ENDED FUND STRUCTURES KNOWN AS PROFIT

PARTICIPATION SECURITIES (PPS).

MOVING FORWARD, THE VISION IS FOR CDL TO SUCCESSFULLY BUILD UP A FUND MANAGEMENT BUSINESS THAT WILL PROVIDE US WITH STRONG

RECURRING INCOME OVER TIME WHILE ALSO ENHANCING THE EFFICIENCY OF OUR CAPITAL DEPLOYMENT.”

MR SHERMAN KWEK CDL GROUP CEO

Frank to the CDL team and we are extremely excited to have him join us. He is an investment veteran with a wealth of experience in real estate investments and fund management across Asia and Europe, including CDL’s key overseas target markets such as Australia and Japan. He has an outstanding proven track record of capital allocation and CDL will undoubtedly benefit from his deep experience and keen foresight."

BIZBUZZ

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CDL’s wholly-owned subsidiary, CDL China Limited (CDL China), has entered into a strategic partnership with China Vanke through a partial divestment of CDL China’s interests in two projects located in the Yuzhong District of Chongqing to the latter: 70% of Chongqing Huang Huayuan, and 50% of Eling Residences. The transaction is valued at RMB 986 million (S$202 million).

Following the partial divestment, CDL China continues to retain a 30% and 50% equity stake in Chongqing Huang Huayuan and Eling Residences respectively for future upside. The strategic partnership will see both projects being jointly developed and managed by CDL China and Vanke, one of China’s largest real estate developers.

Chongqing Huang Huayuan is a mixed development which sits on a site area of 23,512 square metres (sqm) with total gross floor area (GFA) of approximately 121,151 sqm. The prime site is centrally located in the Yuzhong District between the two core central business districts of Jiefangbei and Jiangbeizui, with views of the Jialing River and Jiangbeizhui city. The design of the development is currently under review by the joint venture (JV) entity.

Eling Residences is now a completed 126-unit luxury residential development designed by internationally renowned architect Moshe Safdie with a total GFA of approximately 35,486 sqm. Positioned at the peak of Eling Hill in the Yuzhong District, Eling Residences’ prime location offers panoramic views of the Yangtze and Jialing Rivers. Going forward, the JV entity will manage the sales and marketing efforts for the project.

Mr Mark Yip, CEO of CDL China said, “As part of CDL’s diversification, China is one of the Group’s key overseas markets. Since CDL China was established in 2010, we have acquired prime sites in the major growth cities of Chongqing, Shanghai and Suzhou. This cooperation agreement with Vanke marks the start of our strategic partnership with one of China’s leading real estate developers. We hope to tap on Vanke’s extensive local experience and expertise, business networks and development capabilities in China for the two prime Chongqing projects.”

“CDL will also contribute our international knowledge, best practices and networks to further enhance the projects’ positioning, design and sales channels, creating a win-win alliance with Vanke. This CDL-Vanke partnership will pave the way for future collaborations and business expansion opportunities in both China and Singapore,” he said.

“This partial divestment is in line with CDL’s strategy of recycling capital for our expansion plans. We are actively exploring new acquisitions and investments to grow our presence in China,” Mr Yip added.

CDL PARTNERS CHINA VANKE FOR TWO CHONGQING PROJECTS

Positioned at the peak of Eling Hill with panoramic views of the Yangtze and Jialing Rivers, the completed 126-unit Eling Residences luxury residential development is designed by internationally renowned architect Moshe Safdie.

Artist’s Impression

HEDGING A PRIVATE STRATEGYIn October 2017, CDL launched a bid for its 65.2%-owned London-listed hotel subsidiary, Millennium & Copthorne Hotels plc (M&C), which owns, franchises and operates 137 hotels around the world, including landmark sites in London and New York.

Despite its enviable portfolio, M&C faced a highly challenging trading environment in each of its locations with intensifying competition. Its stable of hotels needed substantial capital investment. Through privatisation, CDL believes that M&C would achieve a more nimble and efficient organisation structure. A successful privatisation would also allow M&C to further leverage CDL's significant infrastructure and resources.

CDL’s final offer for M&C’s minority shares – announced on 8 December 2017 – of 620 pence a share (comprising 600 pence a share, in addition to a special dividend of 20 pence per share), lapsed on 26 January 2018 at 1300 GMT after it did not meet the requisite acceptance condition from minority investors.

Millennium Broadway New York

As of the final closing date of the final offer, valid acceptances were received from 47.14% of minority investors for the shares it does not currently own, short of the 50% threshold required for the offer.

Although CDL’s privatisation bid for M&C was curtailed, it respects the views of M&C’s minority shareholders and remains committed to maintaining its controlling shareholding in M&C, supporting M&C's strategy as a hotel owner and operator and the extensive capital expenditure programme required to improve performance.

Analysts and market-watchers have largely been sanguine on the outcome, given the positive sentiment in Singapore’s residential sector and the potential deployment of CDL’s strong balance sheet towards strategic domestic and overseas acquisitions instead.

Millennium Biltmore Hotel Los AngelesMillennium Mayfair London

BIZBUZZ BIZBUZZ

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First Sponsor Group Limited (FSGL), with its two key shareholders CDL and Tai Tak Estates Sendirian Berhad, has through a joint venture partnership entered into a sale and purchase agreement for the proposed acquisition of Le Méridien Frankfurt Hotel in Germany. Led by FSGL, the acquisition marks its first foray into Germany. The expected total consideration for this acquisition is €85.0 million (S$135.9 million) including transaction costs.

Le Méridien Frankfurt Hotel is a freehold property that is located close to the main train station in the Frankfurt district of Bahnhofsviertel ― the city centre of Frankfurt, and has an aggregate land size of approximately 4,405 square metres (sqm).

The hotel comprises two buildings, a historic part with a monumental status built in 1905 that has 80 rooms and a modern part built in the 1970s with 220 rooms. It also has 670 sqm of conference space with an extensive fitness and wellness area, and 48 parking spaces.

Mr Kwek Eik Sheng, CDL Group Chief Strategy Officer said, “As a major hub for commerce, tourism and transportation, Frankfurt is a compelling destination for acquisitions in Germany which is

the largest economy in Europe. Moreover, with Brexit, hotels in Frankfurt will see increasing demand as businesses including banks are shifting their operations and activities to this German city.”

“More importantly, together with Tai Tak, CDL is pleased to support First Sponsor’s growth through this joint acquisition of a prime freehold hotel property in the city centre of Frankfurt. At the same time, it will also enable CDL to enhance our recurring income stream and enlarge our geographical footprint for strategic diversification. Earlier in the year, the CDL Group entered Munich through CDL Hospitality Trusts’ acquisition of Pullman Hotel Munich. With a strong balance sheet, CDL will continue to seek opportunities for new acquisitions and investments both locally and overseas.”

CDL ENTERS PARTNERSHIP TO ACQUIRE LE MÉRIDIEN FRANKFURT HOTEL

Le Méridien Frankfurt Hotel — A freehold property located close to the main train station in the city centre of Frankfurt.

M SOCIAL SINGAPORE LEADS OPERATIONAL TRANSFORMATION FOR HOTELS HERE AND ASIAM Social Singapore’s drive for digital excellence has paid off in a double win at International Data Corporation (IDC) Asia/Pacific’s inaugural IDC Digital Transformation Awards (DXa) 2017. The hotel was named “DX Leader for Operational Transformation in Singapore” and “DX Leader for Operational Transformation in the Region” for addressing with innovation the serious manpower shortage in the hospitality sector.

M Social Singapore was awarded at DXa 2017 for its efforts in introducing the region’s first Front-of-House Autonomous Service Delivery Robot, or AURA. The robot can operate and ride in elevators, navigate her way to a guest’s door, let them know that a delivery has arrived, and open its lid for guests to retrieve their delivered items when they answer the door.

AURA delivers bottled water, towels, toiletries and amenities to guest rooms and mingles with guests at M Social Singapore. AURA has been integrated with various subsystems in the hotel, such as networks, elevators, and telephony. It has enabled organisation excellence by making business operations more productive, as it addresses manpower shortage through robotics solutions.

“I am proud that M Social Singapore has been acknowledged as a frontrunner in adapting new technology to address labour shortage. I believe it enhances guest experience, and enables us to stay relevant in the face of manpower crunch and business

LUXESTYLE

disruptions,” said Mr Kwek Leng Beng, Chairman of Millennium & Copthorne Hotels plc (M&C). Mr Kwek is also the Executive Chairman of Hong Leong Group and CDL.

“We have been heeding the government’s push for automation. After the success of AURA, M Social Singapore has recently debuted a second robot AUSCA, the world’s first robot Chef that can serve up egg dishes for dining guests,” he added.

“Earlier this year, AUSCA, the world’s first Front-of-House Autonomous Service Chef Robot prototype, started working at M Social Singapore’s Beast and Butterflies restaurant, making perfect sunny-side up and omelette dishes for guests,” said Mr Lee Richards, Vice President of Operations (South East Asia) for Millennium Hotels and Resorts.

Mr Lee Richards, Vice President of Operations (South East Asia) for Millennium Hotels and Resorts, with AURA, and the two awards received by M Social Singapore.

BIZBUZZ

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EGG-CITED TO SERVE YOU! Millennium Hotels and Resorts (MHR) has introduced the world’s first front-of-house Autonomous Service Chef Robot prototype ‘AUSCA’, who prepares eggs for guests at M Social Singapore.

After the success of implementing AURA (Southeast Asia’s first front-of-house Autonomous Service Delivery Robot) last December, MHR has developed a more specialised bot, AUSCA, whose job is to cook egg dishes at M Social Singapore’s award winning restaurant Beast and Butterflies.

All one has to do is place an empty plate on AUSCA and make a selection of how they want their eggs cooked — sunny-side up or omelette. AUSCA will then start making the egg dish by pouring some oil, cracking the eggs and frying them. After around three minutes, it will place the eggs on the plate and the dish is ready to be eaten. The eggs appear squarish due to the shape of the pan.

While AUSCA is currently only able to cook eggs either sunny side up or in an omelette, he will be programmed to offer more variations in the near future.

With project management and financial support from Singapore Productivity Centre’s Hotel Productivity Centre Applied Research initiative, AUSCA was developed by Kurve Automation with industry guidance from Republic Polytechnic’s School of Hospitality.

“Singapore hotels face an extremely tight labour market. Such collaborative initiatives allow limited resources to fully concentrate on deepening guest engagement and satisfaction instead of labourious time-consuming tasks,” said Mr Ng Yu Lik, Principal Lecturer from Republic Polytechnic’s School of Hospitality.

MHR is looking into the possibility of rolling AUSCA to Singapore hotels under the Group, namely: Grand Copthorne Waterfront, M Hotel, Orchard Hotel, Copthorne King’s and Studio M. The company is also looking at further introducing cleaning enhancements to aid and assist the housekeeping department.

AUSCA, which stands for Automated Service Chef Associate, is the world’s first front-of-house autonomous service chef robot prototype. AUSCA’s job is to make the perfect egg dish for guests at M Social Singapore’s award-winning restaurant, Beast and Butterflies.

“THE MOVE TO IMPLEMENTING TECHNOLOGY IN HOSPITALITY IS MORE RAPID IN SINGAPORE

THAN IN OTHER PARTS OF THE WORLD. THE FOCUS OF MILLENNIUM HOTELS AND RESORTS IS TO PIONEER THIS INITIATIVE AND HELP THE

INDUSTRY, TO WORK WITH TECHNOLOGY AND TO INVEST IN INNOVATION SO AS TO ENHANCE GUEST

EXPERIENCE AND BE AHEAD OF TIMES. ”

MR LEE RICHARDS, MHR VICE PRESIDENT OF OPERATIONS (SOUTH EAST ASIA)

After a multi-million dollar revamp which marked Hua Ting Restaurant’s most extensive refurbishment, the famous Cantonese restaurant at Orchard Hotel Singapore re-opened its doors to a brand new chapter on 7 December 2017.

Set up in 1992, Hua Ting Restaurant established a firm reputation for its authentic Cantonese cuisine such as roast delights, home-crafted dim sum, and other signature classics including Crispy Roasted Duck which has been wow-ing guests for more than two decades.

Over the years, Hua Ting has grown into a household name in Singapore known for serving consistent quality and outstanding Cantonese delicacies. The restaurant is well-known among families and corporates for reunion dinners, festive gatherings, business and social events, or just a casual tête-à-tête with friends over dim sum.

As one of the earliest Cantonese fine dining hotel restaurants in Singapore, it is a stalwart for the classic cuisine and has taken on the duty of ensuring that traditional flavours are imparted to a new generation of diners.

Set in a brand new sophisticated space, Hua Ting’s team of accomplished chefs led by Hong Kong Masterchef Lap Fai promises to continue to innovate new signature dishes while keeping with its enduring tradition of serving authentic Cantonese delights.

The restaurant has seen full reservations since it re-opened as diners return to this celebrated stalwart for its authentic Cantonese cuisine in a brand-new sophisticated setting.

From left: Hua Ting Restaurant Masterchef Chung Lap Fai; Orchard Hotel General Manager Ms Tina Sim; Millennium & Copthorne Hotels Interim Group CEO / Group Chief of Staff Mr Tan Kian Seng; Millennium Hotels and Resorts (MHR) Vice President of Operations (Southeast Asia) Mr Lee Richards; MHR Regional Director of Food & Beverage Mr Andy Wong; MHR Assistant Director of Food & Beverage Mr Berry Chua.

“THE NEWLY REVAMPED HUA TING RESTAURANT MARKS A MOMENTOUS EVOLUTION

TO KEEP UP WITH THE TIMES, OFFERING OUR VALUED GUESTS

A MORE ENRICHING DINING EXPERIENCE WHILE BUILDING ON

THE RESTAURANT’S LEGACY AS ONE OF SINGAPORE’S FAVOURITE DESTINATION FOR BEST-IN-CLASS

CANTONESE DINING.”MS TINA SIM

GENERAL MANAGER OF ORCHARD HOTEL

HUA TING HERALDS A NEW CHAPTER OF FINE CANTONESE DINING

From modern chinoiserie influences to wooden wall panels and carefully-curated colour palettes, paintings and sculptures that dot the interiors, Hua Ting’s re-imagined space features refined furnishings and artworks that set the stage for sophisticated, intimate dining.

Hong Kong Masterchef Lap Fai and his team of accomplished chefs have created new signature dishes such as the Chilled South African Baby Abalone marinated in Japanese Sake to mark the much-anticipated opening of Hua Ting.

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MHR MEA Chief Operating Officer Mr Kevork Deldelian said, “We couldn’t be more proud of our achievements at the World Travel Awards this year. These distinctions of excellence are a huge honour, and a testament to the hard work and talent of our teams. We aim to deliver a superior standard of service at each of our hotels, anticipating the needs and desires of every guest. Being recognised again by our industry peers is a wonderful incentive to the team to continue to deliver the very best experience to our guests and further build our reputation in the region.”

The WTA was established in 1993, and is the hallmark of travel industry excellence, also hailed as the ‘Oscars of the Travel Industry’. Annually, the WTA holds a series of regional gala ceremonies to recognise industry players within each region, with winners competing in the Grand Final event. This year, the regional gala ceremonies were also held in Asia & Australasia, Europe, Africa & the Indian Ocean, North America & the Caribbean, and Latin America.

The following hotels were among the individual property winners (clockwise from top left) Millennium Airport Dubai, Middle East’s Leading Airport Hotel; Grand Millennium Amman, Jordan’s Leading Business Hotel; Millennium Hotel & Convention Centre Kuwait, Kuwait’s Leading Conference Hotel; Millennium Plaza Dubai, Dubai’s Leading City Business Hotel.

M&C MIDDLE EAST SWEEPS 11 AWARDS FOR WORLD TRAVEL

Millennium Hotels and Resorts, Middle East and Africa (MHR MEA) has topped the 2017 World Travel Awards (WTA) for the Middle East region with 11 awards, including clinching the regional title "Leading Business Hotel Brand" in MEA for the second year running.

At the 2017 World Travel Awards for the Middle East region, MHR MEA took home the following individual hotel awards:

Middle East’s Leading Airport HotelMillennium Airport Dubai

Jordan’s Leading Business HotelGrand Millennium Amman

Kuwait’s Leading Conference Hotel Millennium Hotel & Convention Centre Kuwait

Oman’s Leading Business HotelGrand Millennium Muscat

Oman’s Leading Hotel ResidencesMillennium Executive Apartments Muscat

UAE’s Leading Luxury City HotelGrand Millennium Dubai

Abu Dhabi’s Leading Luxury City HotelGrand Millennium Al Wahda

Dubai’s Leading City Business HotelMillennium Plaza Dubai

Sharjah’s Leading HotelCopthorne Sharjah

Fujairah’s Leading HotelMillennium Fujairah

A jubilant MHR MEA team received 11 awards at the Middle East WTA.

FUTURENOW

GLOBAL RECOGNITION FOR GENDER DIVERSITY AND SUSTAINABILITY

On 23 January, CDL joined over 100 companies from ten sectors headquartered in 24 countries and regions in the inaugural sector-neutral 2018 Bloomberg Gender-Equality Index (GEI). The index measures gender equality across internal company statistics, employee policies, external community support and engagement, and gender-conscious product offerings. CDL is the only real estate management and development company named in the GEI.

Mr Sherman Kwek, CDL Group CEO, said, “We are honoured to be the only real estate management and development company selected for the 2018 Bloomberg GEI. We have always believed in the importance of gender diversity and strived hard to make it part of our corporate culture and inherent within our workforce. In doing so, it has enabled us to benefit hugely from the unique perspectives and immense creativity which different individuals across both genders bring to the table. By harnessing the diversity of our talent pool represented by different genders, age groups, ethnicities, cultures, geographies and backgrounds, it has given us a strong strategic advantage when it comes to decision-making and operations. With women making up about 70% of CDL’s workforce and 40% of our department heads, we are committed to empowering women in our workplace and supporting their pursuit for career and personal development.”

CDL established an internal Diversity and Inclusion Task Force in 2017 to promote awareness and adoption of diversity and inclusion within the organisation and the larger community, and has also adopted a formal Board Diversity Policy which sets out a clear policy and framework for promoting diversity on its Board.

On the same day, CDL emerged as the longest-running Singapore-based company to be listed on the Global 100 Most Sustainable Corporations in the World, underscoring its unwavering conviction and commitment to sustainability. It is the first and only Singapore company to be on the index for nine consecutive years.

In addition, CDL is the highest scoring Singapore real estate company, and only one of four companies in the Hong Kong and Southeast Asia region to have attained Leadership level for its 2017 climate disclosure with CDP, the non-profit environmental disclosure platform. CDL also received the “Most Improved Award” at the CDP Results Launch for being the company with the biggest year-on-year improvements to their CDP climate change scores.

With females making up about 70% of CDL's workforce and 40% of its departments heads, CDL is committed to empowering women in its workplace and supporting their pursuit for career and personal development. Pictured here are Ms Yiong Yim Ming (left), Group Chief Financial Officer, and Ms Esther An (right), Chief Sustainability Officer, who are part of CDL's senior management.

CDL celebrates new global accolades in recognition of its diversified corporate culture, long-standing sustainability commitments and leadership in climate disclosure.

LUXESTYLE

2019

CDL JOINS NEA AS INCUBATE PARTNER

FUTURENOW

CDL signed a Letter of Intent (LOI) with the National Environment Agency (NEA) to be an INnovating and CUrating Better Automation and Technologies for Environmental Services (INCUBATE) partner.

INCUBATE embodies the partnership between the technology providers and services providers, premises owners, and the government, to collectively innovate and curate better technologies, solutions and innovations for the Environmental Services industry.

The signing ceremony was witnessed by Minister for the Environment and Water Resources (MEWR), Mr Masagos Zulkifli, and Mr Albert Chua, Permanent Secretary of MEWR, at the launch event of the Environmental Services Industry Transformation Map (ES ITM) held on 11 December 2017.

Mr Chia Ngiang Hong, CDL Group General Manager, said, “CDL proactively adopts innovative technologies and solutions to continuously raise the operational efficiency and environmental performance of our properties. This also helps to further enhance the comfort and well-being of our customers and tenants.”

“We are pleased to be an INCUBATE partner under the ES ITM. CDL will explore and pilot initiatives including robotics and smart technologies to increase the efficacy, productivity and quality of facilities management at our buildings such as City Square Mall, Le Grove Serviced Apartments and Republic Plaza. We hope that our pioneering efforts will help to pave the way for more innovations to transform the environmental services sector in Singapore,” Mr Chia added.

• Call for solutions for maintenance-related challenges such as autonomous façade cleaning

• Pilot in-sink grinders and on site food waste digesters in serviced apartments to recycle food waste into compost which can be used as fertiliser for plants in the landscape area

• Implement an integrated facilities management approach to improve service delivery through smart monitoring, fault reporting and analytics

• Deploy robotics such as autonomous scrubbers for hard floor cleaning to achieve manpower savings

• Explore implementation of performance-based contracting

• Application of traffic and ammonia sensor systems in toilets for more effective housekeeping and enhanced user experience

• Rodent monitoring system to reduce pest manifestation and improve hygiene

• Anti-smell tiles for urinal area in toilets to enhance user experience

Under the INCUBATE partnership, CDL will explore innovations and solutions for its retail and office buildings such as City Square Mall and Republic Plaza, as well as its Le Grove Serviced Apartments:

Mr Chia Ngiang Hong, CDL Group General Manager (third from left) together with Mr Masagos Zulkifli, Minister for MEWR (fifth from left), Mr Albert Chua, Permanent Secretary of MEWR (fourth from left) and other partners at the INCUBATE partnership signing ceremony during the ES ITM launch on 11 December 2017.

Winners of the 8th CDL E-Generation Challenge were announced during the Global Green Economic Forum (GGEF) held on 3 November 2017.

Echoing the Singapore government’s increased efforts in early childhood development, CDL has initiated a new eco-education programme CDL Little Green Hearts.

CDL E-GENERATION CHALLENGE WINNER UNVEILED

CDL LAUNCHES LITTLE GREEN HEARTS INITIATIVE FOR STAFF

The 8th edition of the CDL E-Generation Challenge, in partnership with GGEF, is a youth-centric competition targeted at encouraging and empowering youths to come up with urgent solutions against climate change. Started in 2010, the Challenge initially provided an avenue for youths to learn about eco tips through games in an Amazing Race format. It was revamped in 2017 to put the spotlight on passionate environmental youth advocates.

Participants were first invited to write a 3,000 word essay with their proposed solutions for climate change. Ten finalists with an impressive track record and proposed solution were then shortlisted and required to run a social media campaign to create awareness and garner support from the public, and present their ideas to a prestigious judging panel which consisted of industry experts in sustainability and conservation.

The closely contested finals eventually saw an outstanding winner being selected to join renowned environmentalist and polar explorer O.B.E. Robert Swan for a two-week expedition to Antarctica in March 2018. O.B.E. Robert Swan, a champion for youth empowerment in environmental advocacy, is also the first man to walk both the North and South Poles. Ms Jessica Cheam, founder and Managing Editor of Eco-Business, and a well-established environmental journalist and advocate with extensive outreach to businesses and the public at

Launched in collaboration with Ground-Up Initiative (GUI), the Little Green Hearts programme targets children between four to seven years of age and aims to impart actionable tips on sustainable living to young kids through sensory experiences in a rustic community-based natural environment.

In its first run held at GUI’s kampung farm in Yishun on 4 December 2017, 30 pairs of CDL employees and their children participated in a series of hands-on activities designed to develop a love for nature and an appreciation of healthy eating, while strengthening the mutual bond between parent and child.

With the success of the first run, CDL plans to organise more sessions in 2018 to benefit more employees and their children, and extend the programme to residential and commercial tenants as part of its tenant engagement efforts.

large was announced as the unanimous winner.

Due to the high calibre of finalists, the judges also gave a Distinction Award to Ms Inch Chua, a talented local singer-songwriter with a significant following in the arts communities and on social media. The award, co-sponsored by CDL and OCBC Bank, will fund approximately half her expedition cost. The award is timely as Singapore gears up for 2018, designated as the Year of Climate Action. Both winners will be a formidable force to expand awareness and rally actions to combat climate change through their sphere of influence.

The first Little Green Hearts programme saw CDL employees and their children coming together to build planter boxes to plant barley, which the children then took home to tend to during the year-end school holidays.

CDL E-Generation Challenge winners Ms Jessica Cheam (first from left) and Ms Inch Chua (third from left) together with CDL Chief Sustainability Officer Ms Esther An (fourth from left) and Founder and Chief Executive Officer of Global Green Economic Forum Ms Christina Lee (second from left) at the Global Green Economic Forum 2018.

FUTURENOW

2221

HEARTWORK HEARTWORK

Embracing the Christmas spirit of giving, CDL rallied its tenants from Republic Plaza, City House and Fuji Xerox Towers to support its “Christmas Gift of Love” initiative.

In partnership with three non-profit organisations — Beyond Social Services, Industrial & Services Co-operative Society Ltd, and Singapore Children’s Society — over 200 children beneficiaries had the opportunity of having their Christmas wishes fulfilled.

CDL invited its tenants and employees to play Santa, by contributing the gift items on the children’s wish list.

About 400 Christmas gifts were then presented to the children during a special festive celebration held at the lobbies of Republic Plaza, City House and Fuji Xerox Towers on 5, 7 and 19 December 2017 respectively.

A CHRISTMAS GIFT OF LOVE

Dressed in festive Christmas hues, a troupe of CDL employee carollers regaled the children beneficiaries with seasonal classics such as “Joy to the World” and “Hark! The Herald Angels Sing” during the “Christmas Gift of Love” gift presentation.

Mr Kwek (left), Mr Chia (second from left), and President of CSC Ms Foo Chui Mui (right) presenting a gingerbread house to the Co-Founder and Centre Manager of Arc Children’s Centre, Ms Geraldine Lee (second from right).

Pictured here is a CDL employee volunteer dressed as Santa who brought merriment and laughter with his cheery ho-ho-hos to the children.

CDL Group Chief Strategy Officer Mr Kwek Eik Sheng dishing out pastries to the children. CDL Group General Manager Mr Chia Ngiang Hong handing out presents at Republic Plaza.

After a medley of Christmas carols and seasonal classics performed by CDL employees, the children beneficiaries were presented with beautifully-wrapped gifts on their wish lists, and were treated to a delightful afternoon tea.

Members of CDL’s Senior Management joined in the celebrations as well to lend their voices in the Christmas carolling and give out presents to the children.

Christmas Party at Forest Woods ShowflatBeyond galvanising its tenants' support, City Sunshine Club (CSC) — CDL's dedicated employee volunteer platform — also organised a Christmas party for over 40 children beneficiaries of Arc Children's Centre.

CDL's Forest Woods showflat was transformed into a veritable Christmas wonderland on 6 December 2017, and the children enjoyed a fun-filled afternoon with balloon sculpting, party games, magic show and photo-taking with Santa.

The children were presented with Christmas gifts on their wish lists, specially prepared by CSC volunteers through donations pledged by CDL employees. In addition, the children received goodie bags filled with nostalgic childhood games such as pick-up sticks and five stones.

LIVELIFELIVELIFE

LIVE IT UP AT PALAIS RENAISSANCE AND QUAYSIDE ISLEPalais Renaissance and Quayside Isle, both premier shopping and dining destinations located in Orchard Road and Sentosa Cove respectively, welcome new offerings for trendsetters with a taste for the deluxe lifestyle.

From 19 January to 25 February 2018, drop by City Square Mall (directly connected to Farrer Park MRT station), to welcome the Year of the Dog with these PAW-some festive activities and promotions.

2423

2. UP CLOSE WITH THE PUPS 3, 4, 10 and 11 Feb | B2 beside Travelators, 1pm and 4pm

Join Chase and Marshall for an interactive game-play! Also, redeem a Meet & Greet pass 1 hour prior to each session, with $50* spent. (Limited to 50 passes per session.)

3. LION DANCE WITH CHASE AND MARSHALL 23 Feb | L1 Main Entrance, 2pm

Dance along with the pups as they join the lion dance troupe in bringing good luck and fortune!

* Terms & Conditions:

• Maximum of 3 same-day combined receipts. Redemptions must be made on the same day of purchase at the Level 2 Customer Service Counter, while stocks last.

• Limited to one set of PAW Patrol red packets or one PAW Patrol Kids’ Meal Set + carnival ticket, or one Meet & Greet pass per redemption, regardless of total a mount spent.

• Receipts used to redeem the red packets cannot be reused for redemption of the Kids’ Meal Set + carnival ticket or Meet & Greet pass.

4. PAW-SOME CARNIVAL L1 City Green Park Mon – Fri: 6pm – 10pm | Sat, Sun and P.H.: 12pm – 10pm

Get into the festive mood under the Tunnel of Spring Blossoms from 6.30pm to 10pm daily. Don’t miss the outdoor carnival filled with exciting rides, games and more!

5. ALL-STAR PUPS PHOTO STATION L1 City Green Park

Snap a PAW-fect shot with life-sized PAW Patrol pups dressed in New Year costumes!

• Other terms and conditions apply, refer to www.citysquaremall.com.sg for more information.

• Limited to one set of PAW Patrol red packets or one PAW Patrol Kids’ Meal Set + carnival ticket, or one Meet & Greet pass per redemption, regardless of total amount spent.

• Receipts used to redeem the red packets cannot be reused for redemption of the Kids’ Meal Set + carnival ticket or Meet & Greet pass.

• Other terms and conditions apply, refer to www.citysquaremall.com.sg for more information.

1. PAWS-PEROUS GOODIES

• Spend $88* and receive a set of 8-piece PAW Patrol red packets. ($188* if inclusive of NTUC FairPrice receipts.)

• Spend $268* and receive a PAW Patrol Kids’ Meal Set. PLUS, be the first 800 shoppers to receive an additional carnival ticket! ($368* if inclusive of NTUC FairPrice receipts.)

OR

#01-23 | Tel: 8127 7033 Email: pawfullyfit@gmail.com Mon – Sat: 11:00am - 7:00pm

Pawfully Fit

Pawfully Fit was founded with the aim of getting pets and pet owners to enjoy exercise and simultaneously forge a closer bond.

The studio caters to three different groups:

1. Yoga classes for adults;

2. Yoga classes for children and; also

3. A unique “doga” class for both pet owners and their pet that ensures both you and your pet will get the instructor’s undivided attention.

Dog Yoga “doga” sessions incorporate various elements of yoga, stretching, dog training, meditation and gentle massage for your dog. You can help your dog to join in and do some simple poses, or your dog will “assist” you in achieving the various yoga poses.

There are few studios today that allow owners to bring their pets in, but Pawfully Fit encourages that! The team strives to ensure that both your pet and you will be able to enjoy a vigorous yet fun workout. Apart from “doga”, the studio offers dog obedience classes as well as treadmill training.

Pawfully Fit prides itself on being a peaceful, fun and pet-friendly studio, dedicated to yoga and the well-being and health of yourself and your pets.

Pawfully Fit also takes great pride in offering customers a clean and exclusive environment to practice yoga with their furry friends. Their small class size and capable instructors will ensure that you and your pet will get the instructor’s undivided attention.

WWW.PAWFULLYFIT.COM

Indulge in an unforgettable marina front dining experience at Quayside Isle, located in the luxurious enclave of Sentosa Cove.

Visit www.quaysideisle.com formore dining or lifestyle options.

PAWS U

P!

LIVELIFE

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Ardmore enc lave•

3 minutes ’ wa lk to Orchard Road,c lose to embassy d i s t r i c t , in te rnat iona l

schools and MRT s ta t ions•

Reve l in CDL’s S ignature Res ident ia l Serv ices*

•2+study, 3 -brm, 4+study and penthouse

su i tes ava i lab le

•Water f ront l i v ing w i th 34 pr i va te ber ths*

in v ibrant Sentosa Cove•

Adjacent to W S ingapore Sentosa Cove (Hote l ) and Quays ide I s le (F&B/Reta i l )

•Exc lus ive W Conc ierge serv ices*

and compl imentary weekday break fas t on- the-go a t the C lub Lounge

•2-brm, 3 -brm, 4 -brm and penthouses

ava i lab le

THE RESIDENCES AT W SINGAPORE

SENTOSA COVE

For illustration only

N O T J U S T A N E W L E A S E ,B U T A N E W L E A S E O F L I F E .

Enjoy a luxur ious l i festy le in keeping with our exclusive homes.Now avai lable with attract ive rental packages.

*Fees and conditions apply.

C A L L / W H AT S A P P 8783 1818e n q u i r i e s @ c d l . c o m . s g — l e a s e c d l h o m e . c o m . s g

E X C L U S I V E L Y F O R L E A S E

#03-04 | Tel: 6738 8441 Email: cs@a-drbrand.comMon – Fri: 10:30am – 9:30pmSat – Sun: 11:00am – 8:30pm

DrSpa®

Brought to you by Dr Georgia Lee, DrSpa® is an award-winning medic-aesthetic centre with the exclusive use of DrGL® Professional series for its holistic beauty treatments and services. With over 15 years of experience, it harnesses its proprietary Clinical Solutions treatment protocols to provide result-oriented services. With more than 50 specially curated holistic beauty treatments, the range of award-winning treatment services include skin health, anti-aging, firm and tone, wellness and massage and customised holistic wellness programmes.

Committed to constant research and development, DrSpa® is dedicated to bringing at least one new treatment a year. With an ISO accreditation for Human Capital Competency in Beauty Science, DrSpa®'s beauty specialists are certified by the International Personnel Certification (IPEC) Bureau.

Renowned for its modern yet elegant masterpieces, Raffles Tailor & Menswear has manifested professional excellence over the years. The creators behind these timeless perfections comprise of the visionary Mac Ho – whose meticulous creations epitomise the very best in bespoke tailoring, and his efficacious wife, Eliza Yap – whose credentials include certifications as an image consultant.

numerous international accolades including the Gold Award in Asia Pattern Cutting and Technical Skills Competition. He keeps his skills updated and puts them to good use by delivering suits of quality and comfort, propelling him to be on par with London’s famous Saville Row’s. This has garnered him a reputation via word of mouth and numerous awards and accolades, alongside the industry’s elite worldwide.

In Singapore, he recently launched his ready-to-wear collection line, presenting the best in cutting and craftsmanship.

Mac Ho’s intrigue and passion for fashion coupled with his training from the London College of Fashion, England, in Professional Menswear Tailoring Techniques, has led him to win

DRSPA.COM

#02-07 | Tel: 6733 1336 Email: mac@rafflestailor.com.sg Mon – Sat: 11:00am - 7:00pm

Raffles Tailor & MenswearWWW.RAFFLESTAILOR.COM.SG

FRESHEN

UP!

SUIT UP!

Glow Mira-LiftWinner of Best Line-Reducing Facial at Harper's Bazaar Spa Awards 2018, DrSpa® infuses three technologies and premium-grade ingredients for optimum rejuvenation, invigoration and lifting in this award-winning treatment, allowing customers see visible difference in one session.1. The Skin Cell Activator and Rejuvenator uses advanced breakthrough technology to reactivate and rejuvenate skin cells. 2. The Skin Cell Stimulator uses gold-plated micro-channelling technology, infused with concentrated pure Hyaluronic Acid for immediate and maximum absorption through the dermal layers of the skin. 3. The Skin Cell Optimiser uses a proprietary IonWave technology for superior transdermal delivery and maximum cellular penetration of concentrated premium-grade pure Hyaluronic Acid deep into the multiple layers of the skin.

Located at the premium shopping district of Orchard Road, Palais Renaissance offers a taste of luxury living and deluxe lifestyle offerings.

Visit www.palais.sg for other exclusive boutiques and shopping options.