JLL has acquired Hong Kong design firm PDM International, City Developments Limited (CDL) is partnering the Sustainable Energy Association of Singapore (SEAS) and OUE is acquiring two land parcels at Nassim Road.
PDM International, a twenty-year-old Hong Kong-based regional interior design firm as been acquired by Fortune 500 company JLL. Specialising in work space design across a range of sectors, PDM international has worked with clients such as Adidas, Citi, Estee Lauder and Google.
With 180 staff spread across 19 cities including Seoul, Shanghai and Kuala Lumpur. Since the start of 2015, JLL has acquired more than 40 companies worth a total of $1.2 billion.
CDL and SEAS team up to promote sustainability
The first collaboration between a property developer and a non-profit organisation will be to launch the 4300 sq ft Singapore Sustainability Academy.
This partnership between listed property group City Developments (CDL) and the non-profit Sustainable Energy Association of Singapore (SEAS), where they seek to create a sustainability based training, promote low carbon emissions, resource efficiency, encourage sustainable practice and networking facility.
Located on the roof terrace of CDL’s City Square Mall, the site was chosen for the academy as it won the Building and Construction Authority Green Mark Platinum award in 2007 for its green features, with easy access to Farrer Park MRT station being another positive factor. Opening in March 2017, costing S$2 million ($1.48 million), designed by CDL and Ong & Ong Pte, the Sustainability Academy will have classrooms, office space and an exhibition gallery.
The creation of the Sustainability Academy has the backing of the Ministry of the Environment and Water Resources, the National Environment Agency, the Urban Redevelopment Authority, and the Building and Construction Authority.
OUE acquiring two land plots at Nassim for $57 million
Diversified real estate conglomerate OUE has successfully acquired two land parcels located at 28 Nassim Road within the approved Nassim Road Conservation area at a bid price of S$56.6 million ($42.9 million).
Adjacent to the British High Commissioner’s residence on Eden Hill, the land totals to 3100 sqm.
It is expected to take place in October 2016 through OUE Reef Development, a subsidiary. OUE does not expect this acquisition to have tangible impact on the net tangible assets per share or earnings per share of the company for the current financial year ending December.