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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Global
China’s factory activity grows at slower pace in April
Binance and CZ’s fortunes are set to grow, jail or no jail
Samsung says Q1 operating profits soar nearly tenfold on-year
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
China’s BYD shows effects of price war with weaker first-quarter earnings
Red Cross finances ‘stabilised’, new chief says