Ho Bee may have last laugh by eschewing crowded Singapore market for London

HO Bee Land's acquisition of Ropemaker Place, a 21-storey London office property, has boosted its total investment in this asset class to about £1.3 billion or S$2.4 billion. This makes up 41 per cent of the group's total investment portfolio.

The property is less than 200 metres from the Moorgate Station on the Crossrail, which is expected to be operational in December this year. Ropemaker Place is also 400 m from the busy Liverpool Street Station.

It's a good idea for a property group to boost its recurring income pool to smoothen earnings volatility from property development. But is Ho Bee tilting too much from property development to investment?