City Developments Limited (CDL) has applied to list its UK real estate assets in Singapore.

The Singapore-based property group said it has made relevant applications for the planned initial public offering (IPO) to various regulatory authorities, including the SGX-ST and Monetary Authority of Singapore.

“The company wishes to reiterate that no decision has been made as to whether the transaction will take place, and there is currently no certainty that the company will proceed with the offering,” CDL said.

The company did not mention the value of the proposed IPO, but Bloomberg recently reported that it could raise around £500m (€583.2m) on the Singapore Exchange.

CDL’s three office assets in London, located at Development House in Leonard Street, Shoreditch, Aldgate House in High Street, and 125 Broad Street in the City of London.

CDL first spoke of the possibility of a listing in March last year, when it responded to media reports.

To read the digital edition of the latest IPE Real Assets magazine click here.

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