AUSTRALIAN retail and property magnate Brett Blundy has relocated to Singapore, joining a peer group of foreign tycoons moving to the affluent island nation, people with knowledge of the situation told The Wall Street Journal.
The 53 year-old Mr Blundy joins Australian coal magnate Nathan Tinkler, who moved to Singapore last year. The pair follow the footsteps of Singapore-based Facebook co-founder Eduardo Saverin, who has renounced his US citizenship.
Last year, mining tycoon Gina Rinehart reportedly purchased two properties in Singapore’s Seven Palms condominium in Sentosa Cove for 57.2 million Singapore dollars ($A44.4million), highlighting the appeal of real estate in the city-state, viewed by foreigners as a financial safe haven owing to attractive tax rates. Full story
