A joint development by CDL and Hong Leong Group
Penrose is a new condo development located 500 meter away from Aljunied MRT station and it is being developed jointly by City Developments Limited and Hong Leong Holding's Intrepid Investments, both are members of Hong Leong Group Singapore.
The Group submitted a top bid of $383.5 million for this plot of land offered under Government Land Sales (GLS) land which translates to $732 per square feet per plot ratio (psf ppr) for the prime city fringe plot.
About City Developments Pte Ltd (CDL)
City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 103 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalization. Its income-stable and geographically-diverse portfolio comprise residences, offices, hotels, serviced apartments, integrated developments, and shopping malls.
With a proven track record of over 55 years in real estate development, investment and management, CDL has developed over 43,000 homes and owns over 18 million square feet of lettable floor area globally. Its diversified global land bank offers 4.1 million square feet of developable gross floor area.
The Group’s London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), is one of the world’s largest hotel chains, with over 135 hotels worldwide, many in key gateway cities.
With good track records, home owners of Penrose Condo Singapore can expect quality finishing in their dream home.
About Hong Leong Group
Hong Leong Group began offering financial services in 1961, starting out as a small and medium enterprise (SME). Through its financial services arm Hong Leong Finance, Hong Leong Group has expanded its line of products and services over the years to cater to the financial needs of both individuals and the business community. Today, Hong Leong Finance is Singapore’s largest finance company, with a network of 28 branches islandwide. Its extensive suite of products and services includes fixed deposits and savings, mortgages and home loans, car loans, and share financing.
To stay ahead of the game in the growing SME service market, Hong Leong Finance continues to expand its capabilities and remains the only finance company in Singapore which can provide corporate advisory services and business current accounts to corporate customers.
One of the Group’s best assets is its team of experienced staff, who are constantly commended for their personal touch and intuitive understanding of their customers’ needs. A full sponsor on the Singapore Stock Exchange’s Catalist board, HLF has been named “Domestic Finance Company of the Year” from 2011-2013 and “ASEAN Finance Company of the Year 2014” in the Asian Banking & Finance Retail Banking Awards.
Over the past five decades, the Group has developed many iconic properties along the Singapore skyline and positioned itself as a market leader with more than 130 quality residential properties and over 100 premium commercial and mixed-use developments, including projects like One Shenton, The Tate residences, Sage, The St. Regis Hotel and Residences, Singapore, W Singapore- Sentosa Cove, The Residences at W Singapore- Sentosa Cove and Quayside Isle.