UOL still looking out for offices, hotels to buy

UOL Group is still scouring for income-producing assets in gateway cities as the commercial and hospitality markets in Singapore remain under pressure this year.

But buying sentiment in Singapore's residential market has improved, said group deputy CEO Liam Wee Sin, a day before the group is slated to begin sales at The Clement Canopy, a 505-unit condominium project in Clementi, on Saturday.

He noted that the residential market "has settled into a new norm post-TDSR (total debt servicing ratio)". Developers sold more units than they launched last year, suggesting that the market remains resilient despite cooling measures.