CITY Developments Limited (CDL) has come up with a novel way of monetising its Sentosa Cove assets in a soft property market, even as it anticipates more overseas acquisitions over the next few years. The Singapore-based developer cobbled together a club deal with US investment giant Blackstone and Malaysia's CIMB Bank, which along with senior bank loans, amount to S$1.5 billion. Through a complex...
Quayside Collection
United States investment giant Blackstone and Malaysia's CIMB Bank will invest in three Sentosa Cove properties owned by City Developments (CDL), including the W Singapore hotel, in a complex transaction valued at S$1.5 billion. The investment in the Quayside Collection – comprising the W hotel, the Quayside Isle retail complex and the Residences at W Singapore – will be via an investment instrument...
The Quayside Collection consist of a seven-storey, 320-room marina hotel, a three-storey waterfront commercial site and two six-storey condominium development adjacent to the marina hotel. The retail and commercial development includes a wide range of lifestyle shops such as art galleries, bookstores, music and CD shops, handicraft stores, home-ware shops, fashion boutiques, jewellery stores amongst...