Singapore's City Developments bets big on China real estate

Developer partners with Sincere Property to tap mainland's long-term growth

20190515N Shanghai

CDL will take a 70% stake in a commericial property in the heart of Shanghai's commercial district.  (Photo by Kosaku Mimura)

TAKASHI NAKANO, Nikkei staff writer

SINGAPORE -- Major Singaporean property developer City Developments announced on May 15 a pair of transactions with China's Sincere Property Group totaling nearly $1 billion, underscoring its faith in the mainland real estate market.

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