City Developments Ltd. Executive Chairman Kwek Leng Beng has had enough.
SINGAPORE (Feb 22): Singapore’s second-largest developer has a suggestion for the government: re-position the billionaire enclave of Sentosa as a tourism mecca like Bali.
Property values at Sentosa Cove, a residential area nestled on a tiny island off the south coast, have been hit particularly hard, with home prices down about 30% from the highs seen in 2010. Even as the rest of the nation’s residential market staged a recovery in the first half of last year, Sentosa remained stubbornly in the doldrums.
