Singapore property rebound has Frasers' CEO chasing more land

(Feb 1): 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 in December paid $955.4 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.

“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. The developer will “continue to see what we can participate in the bidding,” he said.

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