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In summary, purchasing a condo in Singapore presents a plethora of benefits, including its strong demand, potential for appreciation in value, and favorable rental yields. Nevertheless, it is crucial to carefully contemplate various factors such as the location, financing options, government regulations, and market conditions. With thorough research and seeking expert advice, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether a domestic investor seeking to expand their portfolio or an international buyer eyeing a secure and lucrative investment, condos in Singapore, available through Condo offers an enticing opportunity.
The long-standing conflicts between the Kwek family members at City Developments Limited (CDL) seem to have finally come to an end. In a statement issued by executive chairman Kwek Leng Beng, it was announced that he will be discontinuing all legal actions against the faction of board directors led by his son and group CEO, Sherman Kwek. Along with Sherman and Kwek Leng Beng, the board will also include two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong.
The decision to put aside their differences for the sake of CDL and its stakeholders was unanimously agreed upon by all board members. They will now focus on strengthening CDL’s business in accordance with good corporate governance principles. This includes completing the development of several major projects in Singapore and globally, expanding the various brands under Millennium & Copthorne, continuing their capital recycling initiative, and maximizing shareholder value.
This resolution comes after the resignation of Dr. Catherine Wu and the statement made by Kwek Leng Beng that CDL CEO can no longer make corporate governance allegations and justify a board coup. With the addition of the two new independent directors, the board is now expected to work together towards the common goal of driving CDL’s growth and success in the future. Additionally, CDL has also recently acquired five student accommodation properties in the UK for $357 million and offered a portfolio of 11 strata shops at The Venue Shoppes for $40.77 million, indicating their commitment to further expanding and maximizing their portfolio.