SYDNEY, June 19 AAP - Stockland boss Mark Steinert has indicated the company may not increase its $2.5 billion bid for rival property developer Australand to match a higher bid from Singapore.

Mr Steinert said Australand was a great fit for Stockland, and the company had already tabled an attractive offer. “We felt we’d made a compelling and fair offer and the market generally agreed with us,” he told a business lunch in Sydney. “Our bid still stands and that process is…