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