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Business
 

Singapore firm "eyes Leighton property portfolio"

Published on Jul 29, 2014 9:18 AM
 

MELBOURNE (Reuters) - Singapore's City Developments and Australia's Stockland Group are considering bidding for Leighton Holdings' US$7 billion (S$8.7 billion) residential and commercial property portfolio, a leading Australian newspaper reported on Tuesday.

Bids for the Leighton Properties business, which is expected to fetch up to A$500 million (S$584 million), are due on Thursday, the Australian Financial Review said, without citing any sources.

The newspaper quoted Stockland Chief Executive Mark Steinert from a speech last week, where he said Stockland has A$3.3 billion invested in Queensland and it plans to invest at least another A$3 billion over the next five or six years.

City Developments could not be contacted for comment, the newspaper said.

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