Singapore Property Rebound Has Frasers' CEO Chasing More Land
- Developer last year paid record price for residential site
- Home prices have risen past two quarters, ending 4-year slide
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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 S$955.4 million ($727 million) for a residential site near the Singapore River, a record on a per-square foot basis at a government sale. Chief Executive Officer Panote Sirivadhanabhakdi said his firm is still on the lookout for more land in the city.