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Singapore firm eyes Leighton property portfolio - Australian media
July 28, 2014 / 11:02 PM / 3 years ago

Singapore firm eyes Leighton property portfolio - Australian media

MELBOURNE, July 29 (Reuters) - Singapore’s City Developments Ltd and Australia’s Stockland Group Ltd are considering bidding for Leighton Holdings’ $7 billion residential and commercial property portfolio, a leading Australian newspaper reported on Tuesday.

Bids for the Leighton Properties business, which is expected to fetch up to A$500 million ($470 million), are due on Thursday, the Australian Financial Review said, without citing any sources.

The newspaper quoted Stockland Chief Executive Mark Steinert from a speech last week, where he said Stockland has A$3.3 billion invested in Queensland and it plans to invest at least another A$3 billion over the next five or six years.

City Developments could not be contacted for comment, the newspaper said.

$1 = 1.0635 Australian Dollars $1 = 1.0634 Australian Dollars Reporting by Sonali Paul; Editing by Chris Reese

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