CapitaLand eyes more investment in Singapore

CapitaLand expects to invest more than S$6 billion or $4.95 billion this year, mainly in Singapore.

The company sees room for growth in Singapore's residential market. It also mentioned China as among the recipients of its investments.

“This year we will probably do more than S$6 billion worth of investments. The investment will still continue to be in our core markets,” Liew Mun Leong, CapitaLand’s president and chief executive officer, told reporters on Thursday.

CapitaLand, about 40 percent-owned by Singapore state investor Temasek, will seek opportunities for acquisitions whenever expectations of land prices have moderated, he added.

Liew remained optimistic about demand for housing in China despite government measures to curb property prices.

“I think the private market will still grow. If you look at sales now, although volume-wise it has not caught up, but prices are still good,” he said about Singapore.

Singapore and China accounted for about 36 percent each of CapitaLand’s total assets as of the end of June.

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