Developer to triple China investment

SHANGHAI: Ascendas, Asia's leading business space solutions provider, is planning to more than triple its investment in China its second-largest market in the next five years, a top company executive said.

The Singapore-based industrial real estate developer has so far poured S$700 million ($458 million) in China since it entered the market in 1995.

"We are planning to triple that number in five years and the total investment would probably reach $1.64 billion then," Chong Siak Ching, the company's president and CEO told China Daily.