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City Development builds S$1.5bn for Sentosa project
Singapore conglomerate City Developments Ltd (CDL) is tapping the loan market for a S$750m ($574m) deal, which forms part of a bigger S$1.5bn investment in developing some of its properties in the city state.
CDL is setting up an investment platform called Profit Participating Security (PPS) to invest into the cash flows of CDL’s properties in Sentosa Cove, which is also located in Singapore. Sentosa Cove is a gated marina residential community and CDL is developing the quayside section.
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