Saturday, Sep 20, 2014Saturday, Sep 20, 2014
Business
 
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.

 
If you are not a subscriber, you can get instant, unlimited access here

Background story

KEPPEL LAND

$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

Videos