25 May '17, 4am

Logan Property turns to Singapore in its bid to diversify

Drawn by the city-state’s stable operating environment and low tax system, Logan Property Holdings marked its maiden foray into Singapore with a record $1.003 billion bid for a prime residential site in Stirling Road with Nanshan Group, reported The Straits Times. Logan Property investor relations director Derek Lee revealed that the Hong Kong-listed developer “has been paying close attention to the property markets in certain overseas core cities including Hong Kong and Singapore in recent years, with an aim to diversifying our land bank portfolio”. Based on the site’s area of 21,109.5 sq m, the purchase price works out to S$1,050 per sq ft (psf) per plot ratio – which is on the high side according to the view of some analysts but reasonable for Logan Property. “The company has conducted detailed investment analysis to come up with the bid… (We believe) the project is pro...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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