City Developments Limited · SGX:C09
City Developments — Shareholder Meeting (April 2025)
21 slides from City Developments's shareholder meeting presentation, Apr 23, 2025
Slide 1: 62nd Annual General Meeting
62nd Annual General Meeting 23 April 2025
Slide 2: FY 2024 Key Financial Highlights
FY 2024 KEY FINANCIAL HIGHLIGHTS FY 2024 SUMMARY: Revenue: Revenue EBITDA Decline in revenue was primarily due to lower contributions from the property development segment. $3.3B $1.0B FY 2023 included $1.5B revenue from the full recognition for its Executive Condominium (EC) project, Piermont G
Slide 3: FY 2024 Capital Position
FY 2024 CAPITAL POSITION Strong Balance Sheet & Liquidity Position Sufficient Financing Balanced Gearing Liquidity Flexibility Debt Profile Net Gearing1 (include fair value) Total Cash2 Interest Cover Ratio % of Fixed Rate Debt 69% $2.8B 2.1x 38% FY 2023: 61% FY 2023: $2.2B FY 2023: 2.8x FY 2023: 45
Slide 4: Growth Enhancement Transformation
Growth Build development pipeline & recurring income streams Enhancement Enhance asset portfolio Drive operational efficiency Transformation Transform via New Platforms, Strategic Investments, Fund Management and Innovation Irwell Hill Residences | Singapore
Slide 5: 2024 Performance Highlights: Growth
2024 PERFORMANCE HIGHLIGHTS GROWTH Property Development Singapore Market Share Total Sales Sales Value 19% 1,489 $2.97 units1 billion1 from new launches and existing inventory of 7,696 units sold in Singapore Launched 4 Average Sell-Through projects Rate Lumina Grand Kassia 70% Norwood Grand Union S
Slide 6: Singapore Residential 2024 Launches
G SINGAPORE RESIDENTIAL 2024 LAUNCHES Strong Take-up for 4 Project Launches 2024 Launches Units % sold4 Lumina Grand Jan 512 96% Kassia2 Jul 276 73% Artist’s Impression Norwood Grand Oct 348 84% Norwood Grand Union Square Artist’s Impression Nov 366 33% Residences Kassia2 4 PROJECTS WITH 1,502 1 UNI
Slide 7: Singapore Residential Launch Pipeline
G SINGAPORE RESIDENTIAL LAUNCH PIPELINE Upcoming Launches Launched in Jan 2025 – 89% sold4 The Orie2 (777 units) Zion Road (Parcel A)2 2H 2025 Newport Residences TBD CURRENT EXISTING LAUNCH PIPELINE UNSOLD INVENTORY Zion Road (Parcel A)2 ~950 1 ~850 1 UNITS UNITS Artist’s Impression Newport Residenc
Slide 8: Global Presence Expansion in FY 2024
G GLOBAL PRESENCE EXPANSION IN FY 2024 $2.2B 1 IN ACQUISITIONS & INVESTMENTS City Lux Tsurumi, Yokohama Escenario Akasaka, Tokyo Splendide VII, Osaka ¥4.45B ($40.1MM) ¥3.1B ($28.0MM) ¥5.5B ($47.5MM) Hospitality Artist’s Impression UK 17% 65% The Yardhouse, London FR CN £88MM ($148.6MM) JP (By busine
Slide 9: Global Divestments FY 2024
G GLOBAL DIVESTMENTS FY 2024 >$600MM IN DIVESTMENTS Asset sale completed Asset sale completed Hong Leong City Center (HLCC) Ransome’s Wharf Reflects the Group’s strategic capital – retail and office components £69.08MM ($115.3MM) recycling focus to optimise and unlock RMB 1.01B ($187.4MM) value from
Slide 10: Redefining Urban Cityscapes
ENHANCEMENT REDEFINING URBAN CITYSCAPES GLOBAL PORTFOLIO SINGAPORE COMMERCIAL PORTFOLIO2 23 million sq ft Office3 Committed Occupancy 97.7% Net Lettable Area 1.4MM Total GFA in residential for lease, sq ft commercial and hospitality assets Retail4 Committed Occupancy Net Lettable Area TOTAL ASSETS 9
Slide 11: Key Asset Enhancements
KEY ASSET ENHANCEMENTS E Driving Performance Improvements through Asset Enhancement Initiatives (AEIs) ONGOING City Square Mall COMPLETED Jungceylon Shopping Center & M Social Phuket Jungceylon Shopping Center M Social Phuket Artist’s impression – THB 1B ($37MM) – THB 999MM ($36.9MM) Officially re
Slide 12: Strategic Asset Revitalisation
E STRATEGIC ASSET REVITALISATION Creating Value through Redevelopment Union Square Newport Plaza Redevelopment under Strategic Development Incentive Scheme Redevelopment under CBD Incentive Scheme Mixed-use development comprising 45-storey office, retail, residential apartments freehold and a co-liv
Slide 13: Elevating Hospitality Experiences
ENHANCEMENT ELEVATING HOSPITALITY EXPERIENCES GLOBAL RESILIENT OPERATING PERFORMANCE HOSPITALITY Revenue Per Available Room Occupancy Average Room Rate GOP Margin PORTFOLIO Room (RevPAR) >160 0.9% pts 1.4% 2.6% 0.5% pts 74.0% $233.0 $172.5 35.0% $229.8 34.5% 73.1% $168.1 hotels that are owned, manag
Slide 14: Hotel Refurbishments & Developments
E HOTEL REFURBISHMENTS & DEVELOPMENTS PENANG –MYR96MM ($29MM) 318 Guestrooms • Conversion of Copthorne Orchid Hotel Penang to M Social Resort Penang -- first M Social in Malaysia. • Phased soft opening from 15 February 2025. Brand Expansion NEW YORK – US$46MM ($60MM) 569 Guestrooms • Conversion of M
Slide 15: Innovating for the Future: Global Living Sector Portfolio
TRANSFORMATION INNOVATING FOR THE FUTURE Total GDV Total Units & Beds GLOBAL LIVING SECTOR PORTFOLIO $3.9B 1 7,858 SINGAPORE OVERSEAS GDV Units $1.3B 926 Portfolio Private Rented Purpose-Built Student Occupancy Sector (PRS) Accommodation (PBSA) Existing: Le Grove Serviced Residences >90% 3 4,564 2
Slide 16: Sustainability Positive Impact
SUSTAINABILITY POSITIVE IMPACT Recognised on 14 leading sustainability ratings, rankings & indexes Guided by our ethos of ‘Conserving as We Construct’ since 1995 14 Recognised on 14 leading sustainability ratings, rankings & indexes #2 /477 companies Singapore Governance and Transparency Index (SGTI
Slide 17: Sustainability Leadership
S SUSTAINABILITY LEADERSHIP Accelerating The Global Race to Zero Accolades received in 2024 1st Company in Singapore to publish TNFD-aligned disclosures in our 17th Integrated Sustainability Report 2024 Real estate conglomerate in Southeast Asia to pledge to the 1st WorldGBC Net Zero Carbon Building
Slide 18: The Age of Unprecedented Disruption
THE AGE OF UNPRECEDENTED DISRUPTION Shrinking Singapore Stock Market Regulatory Three Rounds of Economic Uncertainty Energy Crisis Changes Singapore Property Supply Chain Disruptions High Interest Cooling Measures Inflation Rates Rising Costs (since 2018) Challenges Business Disruptions US-China Geo
Slide 19: Key Priorities
KEY PRIORITIES Building Disciplined Future-Proofing a Resilient Portfolio Capital Management the Business Investment Accelerate Capital Environmental, Social Discipline Recycling Initiatives and Governance (ESG) Focus Portfolio Review Reduce Gearing Harness Innovation & Diversification
Slide 20: www.cdl.com.sg
OUR VISION: OUR MISSION: OUR VALUES: C onceptualise spaces and solutions We aim to be recognised by INNOVATION customers, employees and R espect planet Earth peers as an innovative COLLABORATION E ncourage diversity of people and ideas creator of quality and sustainable spaces. A dvance the communit
Slide 21: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward- looking statements as a result of a number of risks, uncertainties and assumption