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Philippine developer not keen to buy China property assets yet

SM Prime plans to wait a year or two, signalling that the country has not hit bottom

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Despite the cautious stance taken by SM Prime's president Hans Sy about bidding on Chinese property firms, the company will continue expanding in China.

Manila

PHILIPPINE billionaire Henry Sy's SM Prime Holdings Inc has received invitations to bid on Chinese property companies and assets. However, the developer is holding off because asking prices are too high.

"The opportunity is not yet quite there," president Hans Sy, one of the

sentifi.com

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