SYDNEY – Singapore billionaire Chua Thian Poh’s A$318.5 million (S$285 million) swoop on a vast Queensland landholding has emerged as one of the clearest signals that Asian capital is flocking back into Australia’s recovering property market.

The deal by Mr Chua’s Ho Bee Land – its largest in the country – promises to expand the group’s long-term land bank in one of Australia’s key growth regions.