Ho Bee Land—controlled by Singaporean billionaire Chua Thian Poh—is buying a property in Queensland for A$318.5 million ($220 million), doubling down its investments in Australia amid a housing boom Down Under.

The Singapore-based real estate company said in a statement that it can develop as many as 1,400 residential lots, along with a mix of 64 business and industrial properties, on the 181.4 hectare (1.8 million square meter) plot, located in........

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