Top 10 Property Developers in Singapore 2024

Best Property Developers in Singapore 2024

Best Property Developers in Singapore 2024

In 2024, Singapore’s real estate landscape continues to be shaped by its innovative and reputable property developers. With a keen eye for both residential and commercial spaces, these developers are not just shaping the physical skyline but are also pivotal in setting new standards for sustainable and smart living in one of the world’s most dynamic urban environments. From iconic residential towers to sprawling retail hubs, these entities drive forward with ambitious projects that promise to enhance the livability and functionality of Singapore’s urban fabric, ensuring the city-state remains at the forefront of global real estate development.

Leading developers such as CapitaLand, City Developments Limited, and GuocoLand, among others, have each made significant contributions, continually pushing the boundaries of architectural excellence and innovative urban solutions. Here are some of the top property developers in Singapore for 2024, renowned for their high-quality developments and significant contributions to the real estate market:



City Developments Limited


City Developments Limited (CDL)

CDL is a major player with a strong international presence and a commitment to sustainability. Known for premium residential, commercial, and retail properties, they are recognized globally for their environmental-friendly practices.

City Developments Limited (CDL) had a significant year in 2023, marked by robust financial and operational achievements. The company posted a record revenue of S$4.9 billion, driven largely by its property development segment. This segment saw notable successes, including the full sale and completion of the Executive Condominium project Piermont Grand. Additionally, CDL made strategic acquisitions, such as St Katharine Docks in the UK and various properties in key overseas markets, contributing to a 31.8% growth in its investment properties segment.

Despite these achievements, CDL experienced a significant decrease in profit after tax and minority interests (PATMI), which was impacted by higher financing costs and the absence of large divestment gains seen in previous years. Nonetheless, the company’s residential sales remained resilient both in Singapore and overseas, with strong sales from project launches such as Tembusu Grand and The Myst.

CDL also focused on sustainability, maintaining its high ranking in the Global 100 Most Sustainable Corporations and continuing to invest in green and sustainable projects. This aligns with their long-standing commitment to environmental stewardship and corporate responsibility.



CapitaLand Limited



As one of Asia’s largest real estate companies, CapitaLand is noted for its innovative and high-end projects like Jewel Changi Airport and ION Orchard. They are known for their unique designs and luxury offerings.

CapitaLand Investment (CLI) had a productive year in 2023, marked by strategic achievements and strong financial performance, despite facing some macroeconomic headwinds. The company posted a resilient financial outcome with a cash PATMI (Profit After Tax and Minority Interests) of S$781 million for the full year. This result was supported by a robust fee income-related business, which saw significant growth due to increased fund management fees and higher earnings from lodging management.

One of the standout achievements for CapitaLand in 2023 was its commitment to sustainability, which continued to be a core focus. The company and its listed trusts achieved top ratings in the 2023 GRESB Real Estate Assessment, reflecting its dedication to environmental, social, and governance (ESG) goals. This recognition has also enabled CapitaLand to secure substantial sustainable financing, which is tied to their performance on these ESG metrics.

In addition to financial performance, CapitaLand has been actively managing its portfolio through asset recycling and diversification, raising S$2.8 billion in third-party capital to strengthen its global reach and expand its fund management activities. The company remains focused on growing its asset-light fee-related earnings and expanding its network of global institutional investors and capital partners.

Moreover, CapitaLand is planning to double its funds under management (FUM) to S$200 billion by the end of 2028, highlighting an ambitious growth trajectory that includes expanding its fund management in emerging markets like India and Southeast Asia, as well as optimising its portfolio in China.

Overall, CapitaLand has demonstrated resilience and strategic foresight in navigating a challenging environment, laying a solid foundation for future growth and sustainability initiatives.



far east organization



Far East Organization

The largest private property developer in Singapore, Far East Organisation has an extensive portfolio across various sectors including residential, hospitality, and retail. They are especially celebrated for their high-quality standards and have received multiple international accolades for their work.

Over the past year, Far East Organisation, Singapore’s largest private property developer, has continued to make significant strides in the real estate and retail sectors. The organisation clinched two prestigious awards at the Retail Asia Awards 2023, highlighting its innovative contributions to the industry. These awards include the Retail App of the Year for its shopFarEast App and the ESG Initiative of the Year for Baker X @ Orchard Central, an initiative supporting home bakers by providing them retail space to test and grow their businesses.

Additionally, Far East Organisation’s commitment to innovation and quality is evident in its ongoing projects and the accolades it has received for its developments. The company is known for its diverse portfolio that includes residential, hospitality, and commercial properties. This diversified approach not only strengthens its market presence but also contributes to its reputation for excellence in property development.

Furthermore, the organisation’s dedication to sustainability and community engagement continues to be a core focus, reinforcing its mission to inspire better lives through high-quality real estate developments and community-centric initiatives.



MCL Land


MCL Land

A subsidiary of the Jardine Matheson Group, MCL Land has a long history of residential development in Singapore. They are known for their competitive land bidding and diverse range of properties that cater to different budgets and preferences.

Over the past year, MCL Land, a subsidiary of Hongkong Land, has continued to make significant strides in Singapore’s residential property market. One of the major highlights for MCL Land in 2023 was the launch of Tembusu Grand in Katong, a joint venture with City Developments Limited (CDL). This development quickly captured market attention, selling 53% of its units shortly after launch at an average price of $2,465 per square foot, which speaks to the strong market demand for well-designed residences in prime locations.

MCL Land’s Tembusu Grand is especially notable because it was the first major residential launch in its district for nearly two decades, indicating a pent-up demand in the area. The project includes features tailored to modern living, such as unblocked panoramic views for units on higher floors and a range of amenities that cater to both families and individuals.

Additionally, MCL Land has been actively participating in government land sales (GLS), submitting competitive bids for several sites, which demonstrates their ongoing commitment to expanding their development portfolio in Singapore. This activity reflects a strategic approach to securing prime land, ensuring the company’s continued growth in the residential sector.

MCL Land’s achievements in the past year highlight their dedication to innovation, quality, and sustainability in developing residential properties that offer long-term value to homeowners and investors alike.



GuocoLand Limited



With operations extending beyond Singapore to regions like Malaysia, China, Vietnam, and more, GuocoLand has been recognised for luxury projects such as the Wallich Residence. They focus on quality and innovation in their developments.

Over the past year, GuocoLand has made significant strides in Singapore, notably with the development of Guoco Midtown. This project is set to redefine urban living with its blend of residential, commercial, and public spaces, emphasising sustainability and community connectivity. Highlighting its commitment to innovation, GuocoLand was also recognised at the SBR Technology Excellence Awards 2023 for advancements in property technology, further establishing its reputation as a leader in the real estate sector.



Frasers Property


Frasers Property

Operating globally, Frasers Property offers a wide range of residential and commercial developments. They are known for their commitment to quality and have received numerous awards for their projects.

Over the past year, Frasers Property Singapore has made significant strides in the real estate sector with notable accomplishments in sustainability, strategic acquisitions, and enhancing community spaces. They completed major investment moves such as acquiring a 50% stake in NEX and increasing their stake in Waterway Point, making them the largest suburban retail mall owner in Singapore. They also undertook a $40 million asset enhancement initiative for Alexandra Point, transforming it into a workspace of the future with sustainable and digital innovations.

Additionally, Frasers Property has been acknowledged for its commitment to environmental sustainability, securing top ratings from the Global Real Estate Sustainability Benchmark (GRESB). They have also focused on innovative green financing solutions, aligning their operations with broader environmental goals.

These efforts reflect Frasers Property Singapore’s commitment to innovation, sustainability, and providing value to the communities they serve, continually enhancing their portfolio across residential, commercial, and retail domains.




allgreen properties

Allgreen Properties

A part of the Kuok Group, Allgreen is one of the largest property developers in Singapore, known for their luxury condos and strong portfolio of residential projects.

In the past year, Allgreen Properties has made significant advancements in Singapore’s real estate market. One of their notable achievements includes the acquisition of The Seletar Mall for S$550 million. This purchase is part of Allgreen’s strategic initiative to enhance its retail portfolio and expand its presence in Singapore’s suburban retail sector, which continues to show resilience and growth potential.

Additionally, Allgreen Properties was recognised at the SBR Technology Excellence Awards 2023, where they won in the Information Management – Real Estate category. This award highlights their successful efforts in digital transformation aimed at improving operational efficiency through advanced technology solutions​.


Wrapping up

Top Property Developers in Singapore 2024

As we review the achievements and innovations of Singapore’s leading property developers in 2024, it is evident that their commitment to excellence and sustainability continues to drive the nation’s real estate market forward. These developers have not only succeeded in creating functional and visually stunning spaces but have also prioritised green initiatives and technological advancements that set new industry standards. Their efforts ensure that Singapore remains a top destination for investors and a model of urban development worldwide.

The landscape of Singapore real estate, enriched by these developers’ contributions, promises exciting possibilities for future projects and developments. These developers are highlighted for their reliable market presence, consistent quality, and innovative approaches to property development in Singapore. For anyone considering an investment or purchase, these developers represent some of the best options in the market today.



Ben Liau

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