Leng Beng sees high-end market recovery in 1-2 years

Singapore

CITY Developments executive chairman Kwek Leng Beng sees light at the end of the tunnel for Singapore's high-end residential market.

"I believe the high-end should turn around within a short period of one, two years; it should blossom three years or four years down the road. I would be shocked if it is five, six years or seven years down the road, then you'll have (a total) 12 years in hibernation," Mr Kwek said at the group's fourth-quarter results briefing on Monday.