Property-report.com, 16 Sep 2008, Khalil Adis
The impact of Lehman Brothers´ collapse on Singapore´s residential real estate market will be minimal but jobs in the financial sector may be affected, say experts.
“The impact of Lehman’s bankruptcy filing on the Singapore residential market will be minimal. It is not heavily invested in any residential project other than its joint ventures with Chip Eng Seng (CES) for the mass market development in West Coast Walk, The Parc Condominium, launched in August 2007 which is fully sold, and a boutique project with CES, CityVista Residences at Pek Hay Road which is 55 per cent sold to date,” Dr Chua Yang Liang, Jones Lang LaSalle´s Southeast Asia researcher, says.
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