CDL To Restart Stalled South Beach Project
Friday, 26th February 2010
City Developments Limited (CDL) is aiming to start building its landmark South Beach project in Beach Road within the Singapore's Central Business District. The South Beach Project bid was won in 2007 but was shelved in late 2008, owing to high construction costs. The other reason for stalling the project was CDL two alliance partners (Dubai World and El-Ad Group) ran out of money. CDL has since brought in new investor, the Hong Kong's Nan Fung group, under a refinancing exercise.