|
Dubai: Singapore expects more Gulf-based investors to bid for land after Dubai's Istithmar recently won a bid for a 3.5-hectare prime commercial site to develop a $1.11-billion project in the city state.
A Singapore official said talks were under way with several Gulf firms to sell sites in the city's Marina Bay development.
"We have at least four investors who intend to build residences, offices and hotels," Urban Redevelopment Authority deputy sales director Marc Boey Kok-Leong told Gulf News.
He said in 2006 Singapore received $6.6 billion in foreign direct investment from the Arab world and 2007 should see a higher figure.
According to Singapore authorities, the Middle East presence in the city has so far been led by institutional investors. Singapore now hopes to lure more individual buyers to projects such as the Marina Bay Financial Centre.
|
