11 Aug '17, 4am

Have Chinese developers created new dynamics in the Singapore property market?

SINGAPORE: When a residential site at Stirling Road in Queenstown was awarded for development following a record bid of S$1 billion in May, the spotlight fell on the winning consortium - Nanshan Group from China and Hong Kong-based Logan Property. Their successful bid continues a trend of Chinese interest in recent land tenders in Singapore. For instance, five of the nine bidders for a development site at Tampines Ave 10 were Chinese. And out of five top foreign bidders from the last 12 months, three were from mainland China and Hong Kong. Foreign Developer Bids from 2016-2017 YTD With the property market in Singapore lacking the buoyancy of previous years as cooling measures continue to hold sway, some observers have questioned why Chinese developers are so keen to acquire development sites and willing to pay top dollar to do so. CHINESE MONEY Advertisement Advertisement ...

Full article: http://www.channelnewsasia.com/news/business/have-chinese...

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