Billionaire Kwek Leng Beng’s CDL Replenishes Landbank As Singapore Defies Global Property Downturn

City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng—has submitted the highest bid for a residential site in the western Singapore town of Bukit Batok as the real estate giant replenishes its landbank amid continuing robust demand for properties in the city.