Sherman Kwek

Group CEO, City Developments Limited

 

Sherman Kwek is a property tycoon leading the growth of their billion-dollar family property empire, City Developments Limited

Sherman Kwek is the group CEO of City Developments Limited (CDL) and the son of veteran businessman and CDL executive chairman Kwek Leng Beng. The younger Kwek, who assumed his current role in January 2018, also holds the concurrent position of executive chairman of CDL China Limited. Kwek is focused on consolidating CDL’s presence in Singapore and the UK, and charting the firm’s expansion in China, Japan and Australia.

Mainboard-listed CDL announced in November 2021 that it had sold $2.5 billion worth of private homes in the first nine months of the year, marking an increase of 30 per cent in terms of the number of units sold as well as a 76 per cent jump in total sales value compared to the same period last year.

Kwek, who started out working in venture capital and investment banking in New York before eventually joining the US division of Millennium & Copthorne Hotels, has helped CDL obtain prime sites in Shanghai, Suzhou and Chongqing in China, and also steered the firm towards new technology ventures such as Distrii Republic Plaza, Singapore’s largest tech-driven co-working facility. Distrii Republic Plaza, a joint venture between CDL and Chinese co-working operator Distrii, is about the size of 13 basketball courts and incorporates more than 900 workstations, private offices and customisable team spaces, as well as a 200-person multi-purpose hall.

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Impacted Industries


Awards


2016

Promising Business Leader (Asia Top Entrepreneurs Awards)

Did You Know?


Distrii Republic Plaza, a joint venture between CDL and Chinese co-working operator Distrii, is about the size of 13 basketball courts and incorporates more than 900 workstations, private offices and customisable team spaces, as well as a 200-person multi-purpose hall.

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