Singapore firm ‘eyes Leighton property portfolio’

MELBOURNE: Singapore’s City Developments and Australia’s Stockland Group are considering bidding for Leighton Holdings’ US$7 billion (RM22.3 billion) residential and commercial property portfolio, according to a report in the Australian Financial Review on Tuesday.

Bids for the Leighton Properties business, which is expected to fetch up to A$500 million (RM1.49 billion) are due today, the newspaper said, without citing any sources.

It quoted Stockland chief executive Mark Steinert from a speech last week, where he said Stockland has A$3.3 billion invested in Queensland and it plans to invest at least another A$3 billion over the next five or six years. — Reuters


This article first appeared in The Edge Financial Daily, on July 31, 2014.