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Real estate investors are now being “careful and prudent” about deploying capital in the face of growing economic uncertainty around the world, said leading Singaporean property investment manager CapitaLand Investment.
Its half-year financial results on Thursday revealed that CapitaLand Investment’s profit fell 38% to $433 million Singaporean dollars ($316 million) for the first half of the year owing to a lower pace of “capital recycling” this year, which the firm had adopted as a cautionary stance against a troubled global economy.
“We’re being very careful, patient and prudent, as I think many of our peers … are,” the company’s chief financial officer Andrew Lim told “Squawk Box…
Source cnbc.com
