Penrose Developer
NovaSims Development Pte. Ltd.
NovaSims Development Pte. Ltd is the joint-venture between City Development Ltd and Hong Leong Holdings Ltd.
NovaSims Development Pte. Ltd.
CDL is a leading global real estate operating company established in the 1963 in Amber Mansions on Orchard Road. The company main business was to acquire, develop, and sell property. CDL went public listed in November 1963 onto the Malayan Stock Exchange (now known as the Singapore Exchange).
In 1972, Hong Leong Group under the leadership of the late Mr Kwek Hong Png, acquired a controlling stake in CDL and embarked on a strategic diversification into investment properties. CDL emerged as a pioneer property developer in Singapore with the aspiration and strong business acumen from the late Mr Kwek.
Today, CDL Group is one of the largest development companies by market capitalization. CDL have diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls. The group was presence is 103 locations in 29 countries and regions.
Hong Leong Holdings Ltd
Hong Leong Holdings Ltd was established in 1968 as the development arm under Hong Leong Group. Hong Leong Holdings Ltd was the pioneer in Singapore real estate development and since then emerged as a major player in Singapore real estate sector. To date, it has developed close to 100 residential properties.
Together with City Development Ltd, the group is recognise as the biggest real estate developer and as well as the biggest commercial landlord in Singapore’s core Central Business District.
With the years of experience building quality homes, aspire future owner of Penrose can expect quality finishing in their dream homes.
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