Wednesday, 29 March 2017
Last updated 13 hours ago
Mar 9 2010 | 3:41am ET
Singapore seeks to become a major hedge fund center, and is planning its own Greenwich or Mayfair to attract alternative investment firms and professionals.
The city-state’s JTC Corp. is touting Nepal Hill, a 15-minute drive west of downtown Singapore, as the perfect place to run a hedge fund, Bloomberg News reports. “Nepal Hill has been chosen for its unique ambience of black and white architectural heritage amid the key research clusters, and these bungalows nestled in lush tropical foliage will be the ideal setting for office for the alternative investments,” the JTC and Monetary Authority of Singapore crowed in an e-mailed invitation to hedge fund managers.
Those bungalows housed British military personnel when Singapore was part of the British Empire. The 180-hectare area will be developed over the next two decades, the JTC said.
The neighborhood is part of Singapore’s “one-north” development, which already features the city-state’s biomedical research center. It’s also near the Rochester Park dining area.