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Singapore developers on overseas buying spree

Local entities invest US$9.8b in commercial property abroad in the nine months to September, overtaking China at US$8.4b, says research firm RCA

Published Mon, Dec 1, 2014 · 09:50 PM
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Singapore

SINGAPORE developers struggling to sell apartments in their home market are buying property overseas, turning the island-state into the largest foreign investor from the region this year.

Companies including City Developments and Keppel Land pumped US$2.32 billion into overseas markets in the nine months through September, a three-fold increase from the same period last year and the most in at least eight years, according to data from Real Capital Analytics, a research firm that specialises in investments in commercial property.

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