08 Aug '18, 10am

Singapore property giants retain optimism despite curbs.

Singapore property giants retain optimism despite curbs.

SINGAPORE (Nikkei Markets) -- Singapore's housing market has started to slow following government measures to cool prices, but the city-state's two largest developers remained optimistic about their prospects due to their diversified business and relatively low debt levels. Both CapitaLand and City Developments , or CDL as it is known, were also bullish about China, where they have the largest exposure outside of Singapore. At a briefing following its second-quarter results, CapitaLand group CEO Lim Ming Yan said the company had "deliberately underweighted" its exposure to Singapore's housing sector in recent years and is in a strong position to look at opportunities in the city-state. "We have a very strong foundation now in China and Vietnam and very little exposure at this point to the Singapore residential market," he said. Earlier in the day, CapitaLand said net profi...

Full article: https://asia.nikkei.com/Business/Markets/Nikkei-Markets/S...

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