Chinese developers still active but more cautious in Singapore, weaker yuan may be a boon

CHINESE developers are still active, albeit more cautious, in Singapore’s property development market, with the weaker yuan against the Singapore dollar a boon when it comes to importing cheaper building materials from the mainland.

Speaking to The Business Times, Nicholas Mak, head of research and consultancy at real estate agency ERA Realty, said Chinese developers are still active on the development front: “Those who have operated here for years, their capital is here; their profits from past projects become capital for future developments; thus making the business here more sustainable.” 

Qingjian Realty, CSC Land Group (whose parent is China State Construction Engineering Corp), Logan Property and Nanshan Group are among the major Chinese developers in Singapore.