Banks don't believe in Puteri Harbour ? So, should we?
Hi guys,
While I'm vested in Puteri just like you, I see banks not being super bullish about the place. For instance Standard Chartered quota for Teega was only 100 units (my SCB banker told me), and Citi doesn't finance units below 1000sqft because smaller units are too difficult to resell (the CITI banker told me)...
Not sure if this is because they are foreign banks - are local banks financing more?
Then on top of it, be it PineTree, Teega, or Encorp - no one has given paperwork yet (checked with the three), while the management guys in Harbourfront Singapore never heard about a ferry service with puteri (checked there myself)...
Are we getting overexcited about the place? Do you see banker still financing it? I now elections are around the corner and everybody more or less wait and see, but it looks that there could be more to it. Your thoughts?
Cheers