Property giant in regional push

Property giant in regional push

SINGAPORE: Property giant City Developments is stepping up its regional push with ventures in Bangkok, Kuala Lumpur and possibly Vietnam, the managing director said in a published report on Monday.

One of the Singapore company's recent investments in the Thai capital is a 600-unit luxury condominium development, the first project using money from CDL's US$750 million private real estate fund.

Called Real Estate Capital Asia Partners (Recap), CDL has a 50 percent share.

"We are building a strategic presence in Thailand as it is one of East Asia's fastest growing economies," The Straits Times quoted managing director Kwek Leng Joo as saying.

The firm is investing in two other projects in Bangkok and Kuala Lumpur. -- DPA