FROM THE BIG APPLE... TO DOWN UNDER
Singapore developers make waves abroad with purchases in key cities
They go for sought-after real estate in key cities as prices fall at home
Published on Aug 4, 2014 7:38 AM
More Singapore developers are vying for some of the world's most sought-after real estate in cities such as New York and Sydney, as cooling measures here continue to bring down home prices.
These firms are making waves in these pricey, mature cities where land and development opportunities are scarce.
In its first foray into the United States, Keppel Land announced last Tuesday that it had ploughed $70 million into a residential project in Manhattan's upscale Upper East Side neighbourhood.
The freehold building, at the corner of 59th Street and Third Avenue, will be developed by Macklowe Properties, a New York real estate developer that has built other luxury projects such as the Metropolitan Tower.
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$70 million invested in a residential project in Manhattan's Upper East Side
PONTIAC LAND GROUP
US$200 million invested in a 72-storey condo in Midtown Manhattan
FAR EAST ORGANIZATION
A$753.4 million in eight developments, including a mixed development in Sydney
FRAGRANCE GROUP'S KOH WEE MENG
US$156 million in four projects, including one in Southbank Boulevard, Melbourne