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Sentosa deal: Blackstone ready for 5-year wait

It can wait that long to see higher returns on its investment in CityDev's Sentosa project

SLIDING: Condominium prices in Sentosa are close to their lowest level since the end of 2006, according to Maybank Kim Eng Securities.


BLACKSTONE Group, which is taking part in the refinancing of luxury Singapore properties, is prepared to wait as long as five years for a turnaround in residential prices to see higher returns on the transaction.

Blackstone and Malaysia's CIMB Bank agreed this week to