Tech and beverage families go property shopping
JACK Ma is tech giant Alibaba Group’s co-founder and one of Asia’s most famous business leaders.
Much buzz was generated when my colleague Kalpana Rashiwala reported that Ma’s wife Zhang Ying bought three adjoining shophouses on Duxton Road in the Tanjong Pagar area for over S$40 million.
Maybe prime shophouses are good stores of value despite typically low yields. Moreover, investors generally pay lower rates of transaction and recurring taxes when buying non-residential properties versus homes.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US single-family housing starts, permits fall in April
Strong demand for ECs could spur competition for Pasir Ris GLS site
Punggol Digital District to open from Q3 with 65% of space pre-committed
Retail units at 20 Cecil Street for sale from S$3.8 million
China property stocks gauge jumps on proposal for home purchases
ESR eyes fourth data centre in Japan