City Developments Limited (CDL) CEO Sherman Kwek says plans for a REIT IPO of its UK commercial assets, which were shelved in late-2022, are back on the table.
Bloomberg reported then that the IPO could raise some GBP500 million in a 3Q2021 debut, with a portfolio size of about GBP1.8 billion.
CDL acquired a third UK commercial asset, St Katharine Docks in central London, for GBP395 million in March 2023.
Kwek notes that CDL now has three properties in the UK. "When conditions are right, it is something we would like to explore again," says Kwek
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