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Billionaire Kwek Leng Beng’s CDL Sells 84% Of Residential Towers Amid Singapore Property Boom
By
Jonathan Burgos,
Forbes Staff.
Senior editor covering billionaires, entrepreneurs and deals in Asia
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Oct 27, 2025 at 12:42am EDTOct 27, 2025 at 05:35am EDT
COURTESY OF CITY DEVELOPMENTS
City Developments Ltd. (CDL)—controlled by billionaire
Kwek Leng Beng and his family—has sold 84% of an upscale residential skyscraper near the Singapore central business district over the weekend, adding to signs the property boom in the city-state is continuing.
The Singapore-listed property developer sold 590 units of the 706-unit Zyon Grand twin 62-story residential towers at an average selling price of S$3,050 ($2,351) per square foot, CDL said in a
statement over the weekend. The company is jointly developing the project with Japan’s Mitsui Fudosan along Zion Road, near the Orchard Road shopping district.