Chinese investors have been major property buyers in Singapore. The promising prospects in Singapore business properties have caught the attention of many business moguls including Chinese tycoon Gordon Tang.  Mr. Tang is the head of property developer Singhaiyi Group and a shareholder of Haiyi Holdings, together with his wife Celine Tang.

His Interest In REITs

The group is building a brand in Singapore through its upcoming residential projects.  But, the softening of the property outlook and the huge stamp duty imposed by the government in Singapore on foreign property buyers have pushed investors like Tang to focus on buying REITs. Tang work alongside other investors in the initial public offerings of Frasers Hospitality Trust and OUE Commercial REIT. It has been said that Tang’s exposure to OUE C- REIT could increase after selling his Cambridge Industrial Trust (CREIT) stake to Wheelock Properties. Reports also show that Tang owns 7.8% of Suntec REIT and around 9.7% of OUE Hospitality Trust.

Diversion to Commercial Development

As Tang’s SingHaiyi Group is planning to establish its branding in property development, they are diversifying to commercial development in Singapore and abroad. They are currently considering exploring the European and Australian markets and gaining an understanding of their business environments.