First Sponsor Group eyes more Dutch assets

Singapore

FIRST Sponsor Group, whose major shareholders are Hong Leong Group Singapore and Tai Tak Estates, is wasting no time to tap its first-mover advantage among Asians in Dutch commercial real estate.

Having made its first foray outside of China with recent acquisitions in the Netherlands, the developer of mixed-use developments and provider of property financing is gunning for more quality commercial assets in key business districts there.

"In the Netherlands, if we have a chance, we may also want to look at development projects and maybe property financing," First Sponsor CEO Neo Teck Pheng told The Business Times.

"It is still not easy for developers to get financing in the Netherlands because of the last crisis when the three Dutch banks went bust. The banks have turned very cautious on funding developments," Mr Neo said. But property financing in the Netherlands …