Thakral sees equal investment in Australia, Japan real estate over time

"In the long term, we expect the investment in the two countries to be about equal. The board, while not focusing oninvesting in Singapore will, however, do so if a suitable investment is identified."

It further cautioned that the Australian residential real estate market appears to be sluggish. As such, Thakral's strategy will be to concentrate on completing its programme of building retirement resorts where the market continues to be active."We will consider niche residential development projects, with limited exposure, if they are found to be viable.

PTE already owns about 39.2 million shares, or about 30 per cent of issued shares. The offer will bump its stake in Thakral up to about 50.2 per cent.

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