Property companies still positive on UK market

Singapore

THE historic divorce of Britain and the European Union dealt a blow to many property counters on Friday, especially those with a major UK presence.

But property companies listed here are still optimistic of the long-term prospects of the UK property market though they perceive uncertainties for businesses over the short to medium term.

In a statement issued on Friday, City Developments Limited (CDL) said that the group is still confident of the long-term fundamentals of the UK economy and its strategy of targeting predominantly UK nationals for its residential projects. The group …