WORLD> Asia-Pacific
Outlook of Asia's real estate market remains optimistic
(Xinhua)
Updated: 2008-06-24 22:27

SINGAPORE  -- Grace Fu, Singapore's Senior Minister of State for National Development, said Tuesday that the outlook for Asia's real estate market remains optimistic, withstanding the recent shake-up in the global financial markets and rising inflation.

She said at the Real Estate Investment World Asia Conference, " Asia will be resilient and that the growth momentum across Asia can withstand the challenges posed by the current financial and economic uncertainties."

She added that Asia's macroeconomic fundamentals are much healthier compared to a decade ago, and Asia still offers a diverse range of investments that can match different interests and risk appetites.

She highlighted Singapore as an attractive location for investments for two key reasons - its strong economic fundamentals, and the quality living environment it offers for locals and global talents alike.

"Singapore is putting in place new plans to further support future growth and sharpen our attractiveness as a magnet for investments and new businesses," she said.

"These development plans will open up many opportunities in Singapore's real estate market, from the provision of quality homes, to new hotel, leisure and retail investment and development opportunities," she added.