Singapore companies snap up overseas properties

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http://www.straitstimes.com/breaking-news/money/story/singapore-companies-snap-overseas-properties-20131117

Significant real estate assets abroad are proving a major attraction for Singapore companies looking to broaden their investment base.

Just last week, it was reported that Singapore sovereign wealth fund GIC is part of a group that is in the final stage of talks to buy a stake in New York City's famous Time Warner Centre.

Earlier this month, developer Oxley Holdings purchased the Royal Wharf development site in the Docklands area, in East London. The huge site along the River Thames will see homes and commercial, retail, leisure and educational facilities spring up in the next few years.

Another developer, Overseas Union Enterprise (OUE), acquired the US Bank Tower in Los Angeles, the tallest building in California, earlier this year.