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Local developer heads for global ranks, more deals in store for sector

By Goola Warden

/ The Edge Singapore |

December 20, 2019 6:00 PM SGT

SINGAPORE (EDGEPROP) - The local property market — which was subjected to cooling measures and experienced oversupply in the past decade — may be small, but in the 2020s, a home-grown developer will rank among global real estate companies such as Brookfield Asset Management, Unibail-Rodamco-Westfield (a merger formed with the former Westfield Corp) and Lendlease Group.

Lee Chee Koon, CEO of CapitaLand, told investors and analysts during the group’s Investor Day on Nov 29: “Our ambition is to become a global company. In five to eight years’ time, we hope CapitaLand is one of the top three to five names that come to mind when investors talk about a global company.” If the developer realises this ambition, it will be the first Asian company to break into global ranks.

The path to globalisation for CapitaLand took a serious turn on Jan 14 when CapitaLand announced a merger with Ascendas- Singbridge (ASB).

This article - Local developer heads for global ranks, more deals in store for sector is originally from TheEdgeSingapore.com

Read also:

CapitaLand sells The Star Vista for $296 mil

CapitaLand’s co-working platform Bridge+ expands to the CBD

CapitaLand top brass to take pay cut even as FY2019 earnings up by 2.2%

Tags:

Brookfield Asset Management Unibail Rodamco Westfield Lendlease Group CapitaLand Lee Chee Koon Ascendas Singbridge The Edge

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