[photopress:chong_siak_Ching.jpg,full,alignright]The Singapore-based industrial real estate developer Ascendas is planning to more than triple its investment in China in the next five years. So far it has invested RMB3,548 million ($458 million) in China since it entered the market in 1995.
Chong Siak Ching, the company’s president and CEO, told China Daily, ‘We are planning to triple that number in five years and the total investment would probably reach $1.64 billion then. China continues to be a very strong potential market for us.’
The company’s core business in China includes industrial parks. One of its flagship projects is Suzhou Industrial Park, a multi-billion-dollar government project between Singapore and China. The company has recently introduced IT parks to China in Nanjing, Xi’an and Dalian.
Chong Siak Ching said, ‘China’s thrust toward higher value-added and more knowledge-intensive activities such as BPO will drive demand for such facilities. This is an area where Ascendas can leverage its expertise. Deepening our presence in the existing cities is one of the keys for us.’
Source: China Daily