City developments limited is a major construction company operating from Singapore. The company has been in the construction industry for the past fifty years. During this period it has managed to improve the construction concepts while introducing new ideas such as the show flat concept.
City developments limited was founded in 1963. It was operating from Amber Mansions where the founders had managed to lease a small office. The original company had eight employees. Even at the time of its founding, the company had a clear vision and direction. The founders were aware of what they wanted to achieve and pursued it. The company went public in November 1963 barely two months after it was founded. It still trades as a public company today. The Opus CDL is the former Amber Park Condo that was collectively sold to City Developments near to Tanjong Katong MRT Station on the Thomson-East Coast Line.
City Developments Limited Developer for The Opus Condo
It took the company two years after it was established to complete eth first housing project. The company constructed Johor Bahru project in 1965. During this period, the company developed the show flat concept whereby a complete flat would be used to help customers choose how they would like their houses to be completed. Other significant projects that have the company’s footprint include the city towers project and clement park condominiums. All of these projects were completed after a two years of inaction.
In 1972, the company was acquired by the Hong Leong Group which contributed to the strategic divarication. The diversification efforts resulted in the equation of Guan Realty which was responsible for the developments of City Plaza. Since the attainment of a controlling stake by Hong Leong Group, the company has been on the fore as far as the property developments is concerned. In the period when the company was operating, it had attained immeasurable feats. For instance, in the 1908s, the company managed to complete 33 projects.
The Opus East Coast Park Freehold Condo by CDL
Later, the company made its inroads into the hospitality industry. Its initial investment in the hospitality industry came with the developments of King’s Hotel and Orchid Inn. The hospitality revenue stream has been effective for the company. There has been effective increment in the investments in this line of business. For instance, after the initial hotels were developed, the company also undertook a rapid regionalization approach. The expansion has resulted in a situation whereby the company is the largest hospitality player in the country. It is also one of the largest owners of hotels in the world.
The Opus New Condo at Tanjong Katong MRT Station
The fifty years of experience that city developments limited has had have been manifested in the legacy it has left. From being a small developments company to a major player, the company has been able to push the boundaries of what is supposed to be the standard while creating the new norm for the construction and hospitality industries. The effective leadership and investment by significant individuals have contributed to the unprecedented success. Currently, the company has been focusing on green construction. This is a new frontier in construction industry. The first mover advantage coupled with the economies of scale will effectively result in a possibility of the company attaining all the milestones that it has dedicated itself to over the years.