Here's what CDL can expect from its South Beach mixed development

The refurbished hotel in the site can contribute up to an additional $15m annually.

City Developments Ltd. can expect brighter days ahead this year as contributions from the newly rebranded JW Marriott hotel with 634 rooms in South Beach mixed development is expected to fully kick-in, according to RHB.

"We expect the hotel component to contribute an additional $10-15m pa to CDL’s (50% stake) recurring income stream based on an 80% occupancy and room rates of $350-400," the research house said.

It noted that the Office Tower is 99% leased with average rents or around $10 psf while more than three quarters of the South Beach retail space has also been leased with 70% of retail outlets commencing operations.

CDL is yet to launch its 190-unit luxury residential units in the project.

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