‘S’pore, HK prop­erty marts unattrac­tive’

New Straits Times - - Business / World -

The threat of gov­ern­ment curbs to tame prices makes Sin­ga­pore and Hong Kong res­i­den­tial prop­erty unattrac­tive, said UBS As­set Man­age­ment head of real es­tate for Asia Pa­cific, Gra­ham Mackie. “We have no ex­po­sure in the Sin­ga­pore res­i­den­tial mar­ket” but were in­stead tar­get­ing in­vest­ments in busi­ness parks and light in­dus­trial de­vel­op­ments, he said. Sim­i­larly, UBS has no res­i­den­tial in­vest­ments in Hong Kong but is open to op­por­tu­ni­ties in com­mer­cial prop­erty such as of­fices or re­tail.

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