Tag Archives: Kwek Leng Beng

Property scene not too frothy: CDL

Posted on 14 Aug 2009 | Comments Off on Property scene not too frothy: CDL

PROPERTY tycoon Kwek Leng Beng believes the Government may try to cool the property market – if it gets too frothy – by resuming its regular land sales programme as a way to boost supply.

However, the City Developments (CDL) chairman also said yesterday that the current buying momentum can be sustained and should not be seen as over-exuberant.

He was speaking at a press conference during which CDL unveiled its second-quarter results – another weak set of figures.

Mr Kwek said the recent resurgence in property sales should be put into context.

‘It should not be viewed as over-exuberant or extraordinary, bearing in mind that developers had put on hold many of their launches in 2008,’ he Continue reading →

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Leng Beng muses on govt’s market cooling options

Posted on 14 Aug 2009 | Comments Off on Leng Beng muses on govt’s market cooling options

Scrapping IAS, reviving confirmed list possible, but care is needed

City Developments Ltd’s (CDL) executive chairman Kwek Leng Beng reckons that the government may abolish the interest absorption scheme or reintroduce land sales through the confirmed list if it is concerned about a property bubble building up.

However, the authorities will deliberate carefully before introducing any measures to cool the market, given the government’s cautious economic outlook for the second half, Mr Kwek said yesterday.

‘In an uncertain time, you press the wrong button, (it may be) disastrous. I’m a strong believer that whatever the government wants to do, I think they’ve got to think very carefully – and they will,’ Mr Kwek said in response to an analyst’s question during CDL’s Q2 results briefing yesterday.

National Development Minister Mah Bow Tan last month observed that there are signs of speculation in the property market, and said that the Continue reading →

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