Here's why Frasers' CEO aggressively hunts for more land

In December, Frasers paid $955.4m for a residential site near Singapore River.

According to Bloomberg, Singapore’s property rebound has the son of Thai billionaire Charoen Sirivadhanabhakdi chasing more land in the city-state, adding to signs the market is emerging from a four-year slump.

Frasers Property Ltd. in December paid $955.4m for a residential site near the Singapore River, a record on a psf basis at a government sale. Chief Executive Officer Panote Sirivadhanabhakdi said his firm is still on the lookout for more land in the city.

“It’s a big appetite that we have taken on,” Sirivadhanabhakdi said last week at a press conference marking the company’s name-change from Frasers Centrepoint Ltd. The developer will “continue to see what we can participate in the bidding,” he said.

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