January - Seven Raffles International hotels were named best hotels in the world by Condé Nast Traveler and Travel + Leisure in their respective January 2003 issues. - PREMAS International formed a joint venture company, PREMAS (THAILAND) CO., LTD. to provide integrated total real estate management services in Thailand. February - The Ascott Group completed the acquisition of a 50% interest in Citadines which operates a portfolio of serviced residences in Europe. - CapitaLand Commercial completed the concept plan to create Singapore's premier food, fashion and leisure precinct at Clarke Quay. March - UM Land launched Seri Bukit Ceylon, a serviced residence project in Kuala Lumpur, Malaysia. The Ascott Group acquired 48 units of serviced apartments and secured the contract to manage the residence. Swissôtel Nankai Osaka La Cité, Shanghai April - Raffles International signed a lease agreement with the Nankai Electric Railway Co. to operate the 548-room Nankai South Tower Hotel Osaka as the Swissôtel Nankai Osaka. - CapitaLand Financial provided advisory services for the issue of notes in connection with the securitisation of The Waterina condominium in Singapore. These notes were listed on the Singapore and Luxembourg stock exchanges. May - CapitaLand divested in Indonesia, its entire 50% stake in the issued capital of PT Tropical Amethyst, in line with its strategy to focus on its core business. - CapitaLand Group set up the "Healthcare Frontliners Award" for nursing students at Nanyang Polytechnic's School of Health Sciences, Singapore, as a tribute to healthcare frontliners during the SARS outbreak. - CapitaLand China launched the 719-unit La Cité in Xuhui District, Shanghai. The condominium was conferred a Gold Award for "Most popular residential development in Shanghai 2003" in the high-mid market segment. June - CapitaMall Trust issued 119.8 million new units to partly finance the acquisition of IMM Building, to overwhelming response. - Raffles Holdings sold its Raffles Brown's Hotel in London for £51.5 million (S$160.9 million), achieving a gain on the divestment. - Raffles International signed a management agreement to operate the 338-room Nai Lert Park Hotel in Bangkok. - The Ascott Group opened its second serviced residence in Tokyo, the 79-unit Somerset Azabu East; and Somerset Suwan Park View, a 152-unit serviced residence in Bangkok. In Melbourne, Ascott secured the management contract for a 127-unit serviced residence and rebranded it Somerset Botanic Gardens. - CapitaLand and The Ascott Group, as part of a Singapore consortium, donated Infrared Fever Screening System sets to the Beijing and Shanghai governments in aid of SARS prevention efforts. The Imperial, Singapore TCC Capital Land JV signing, Bangkok July - CapitaLand organised the China-Singapore Partnership Forum in Shanghai together with Temasek Holdings and IE Singapore. More than 500 business leaders attended the highly successful event. - CapitaLand Residential launched The Imperial on Jalan Rumbia, Singapore. The 187-unit condominium was ranked Singapore's second top-seller in Q3 2003. - CapitaLand China launched the first phase of Oasis Riviera in Changning District, Shanghai. The condominium will have approximately 2,000 homes when fully developed in 2007 - The Ascott Group launched the 195-unit Somerset Bayswater serviced residence in London. August - CapitaLand Residential acquired a 50% stake in the Parkview Condominium site in West Coast Park, Singapore for redevelopment. - Australand announced its proposal to form a stapled entity, the Australand Property Group, by stapling units in a newly created trust, Australand Property Trust, to the shares of Australand. - Raffles International signed deals to manage luxury resorts in Phuket, Thailand, and Canouan Island, The Grenadines. - The Ascott Group opened the 106-unit Somerset Harbour Court in Dalian and the 100-unit Luxury Serviced Residence in Beijing, increasing its portfolio in China by more than 200 serviced apartments. September - CapitaLand Commercial set up a private retail property fund, CapitaRetail Singapore, to hold three suburban malls in Singapore. These malls, collectively worth about S$500 million, are Lot One Shoppers' Mall, Bukit Panjang Plaza and Rivervale Mall. - CapitaLand established a Baht 2 billion (S$87 million) JV company with TCC Land Co. Ltd in Thailand to invest in, develop and manage properties in the residential, office and retail sectors in the country. - CapitaLand Commercial introduced a new security access system, based on the latest finger vein technology from Japan, at Hitachi Tower, Singapore. - Australand signed a conditional A$203 million agreement for the purchase of the 168-year-old Kent Brewery site in Sydney. - CapitaLand China acquired a 1.09 million square feet site in Beijing's Chaoyang District, near the Olympic Park, for S$116 million. About 2,000 homes will be built on the site over the next three to five years. - The Ascott Group opened Riverdale Residence, a 37-unit corporate leasing property in Singapore's prime River Valley residential area. Plot 9 – 1 at Luwan District, Shanghai Somerset on the Pier, Hobart October - CapitaLand Commercial repositioned Plaza Singapura as a one-stop family-oriented centre along Orchard Road, with the opening of anchor hypermart, Carrefour Singapore. - CapitaLand Residential successfully tendered for the 99-year leasehold Jellicoe site in Singapore. A 43-storey condominium with about 500 homes is planned for the site, including 16 art-deco conserved shophouses. - The Ascott Group completed the sale of Somerset Kensington Gardens, a 40-unit serviced residence in central London, while continuing to manage the property, as part of its asset light strategy. - CapitaLand China held a ground-breaking ceremony for Grade-A office tower, Plot 9-1 in Luwan District, Shanghai. November - CapitaLand Commercial was appointed the retail development manager for The HarbourFront Mall. The development will be the single largest retail and entertainment complex in Singapore when completed in 2006. - CapitaLand Residential released The Botanic on Lloyd, a boutique residential project in Singapore with 60 apartments and six garden terraces. - CapitaLand China opened Raffles City Shanghai retail mall with eight levels of lifestyle, entertainment and F&B outlets. - CapitaLand Commercial acquired La Park Mizue, a suburban retail mall in Tokyo, for about S$80 million. The mall, CapitaLand's first in Japan, is intended to be seed investment for the CapitaRetail Japan Fund. - The Ascott Group launched 565 new Somerset serviced apartments in Australia. Two new residences in Melbourne and Sydney were opened, and four properties in Sydney, Melbourne and Hobart were rebranded. - The Ascott Group's 56-unit Somerset on the Pier serviced residence in Hobart won the Tasmanian Tourism Awards 2003 for deluxe accommodation. - Australand completed its stapling programme. The stapled entity, Australand Property Group, commenced trading on the Australian and Singapore stock exchanges. December - CapitaMall Trust issued 45 million new units to finance the investment of S$58 million (about a 27% stake) in junior bonds in the CapitaRetail Singapore Fund, to overwhelming retail investor response. - The Ascott Group secured a management contract for two prime serviced residences, totalling 250 units in Dubai, United Arab Emirates. - Raffles Holdings completed the acquisition of the balance 43.33% shareholding in Raffles Hotel.