Ho Bee

Ho Bee: (The Edge) Grp CEO is betting that 2013 will be a challenging yr for the property market, and do not see a smooth business environment. Since 2010, the grp has been busy rationalising its portfolio and divesting its non-core assets. Now grp believes its the right time to venture overseas. Grp is betting on Australia’s Gold Coast, where it has purchased 3 residential sites within the last 6 mths, as grp reckons that prices there have hit rock bottom. Grp is also looking beyond Gold Coast, and looking at Sydney, Melbourne and perth. Besides Australia and China, grp is finding interests in the London property market and plans to look at commercial property, and consider residential developments later. For the SG Market, grp is on the hunt for suitable development sites, esp for the mass-market residential segment. Note that at the moment, the demand is in Districts 16 and 17 (Tanah Merah, Upper Changi and Pasir Ris) area which is the HDB upgraders market, adding that the prime residential market is hardly moving.