That works out to S$2,515 per square foot (US$21,000 per square meter), according to the mall’s joint exclusive marketing agents CBRE and Knight Frank. The expression of interest exercise, announced on Wednesday, will close on Oct. 15.

Quayside Isle, completed in 2012, features two blocks, one single-storey and one double-storey, offering a net lettable area of 44,121 square feet (4,098 square meters), according to EdgeProp Singapore.

It occupies a site of 89,683 square feet, with more than 200 meters of uninterrupted marina frontage and a 78-lot basement carpark. Over 90% of its retail space is currently leased.

“Since opening, Quayside Isle has become the anchor lifestyle hub of the Sentosa Cove marina — fulfilling our vision for this master planned waterfront community,” said Gerald Yong, CDL’s chief investment officer.

“Our planned divestment of Quayside Isle is aligned with our strategic focus on capital recycling and portfolio optimization,” he noted, as quoted by The Business Times.

Last year, CDL also sold 65 units at the neighboring 228-unit The Residences at W Singapore Sentosa Cove at an average price of S$1,780 per square foot.

Sentosa Cove is one of the world’s most exclusive marina residential communities and, according to Sentosa Development Corp, currently home to more than 6,000 residents.

The Quayside Isle @ Sentosa Cove in Singapore. Photo courtesy of City Developments Limited

The Singapore-listed developer has been focused on divesting to pare debt and restore investor confidence following a widely publicized feud between executive chairman Leng Beng and his son, group CEO Sherman Kwek.

So far this year, CDL has finalized over S$1.5 billion worth of divestments, including U.S. hotels and commercial properties in Singapore, as reported by Bloomberg.

It notably agreed in June to sell a majority stake in the S$2.75 billion South Beach complex in the city’s central business district. The deal is expected to wrap up in the third quarter.

For the first half of 2025, it reported a net profit of S$91.2 million, up 3.9% from a year earlier on revenues of S$1.69 billion, an 8% year-on-year increase mainly driven by its property development segment.

Its net debt-to-equity ratio, which factors in the fair value of investment properties, eased to 70% from 72% at the close of the first quarter.

“There’s a pipeline of many more divestments to come,” Sherman said at a results briefing last month.

Leng Beng and his family, whose fortune is estimated at US$14.3 billion, ranked second on Forbes’ latest Singapore’s 50 Richest list, released on Thursday.