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Real estate consultancy CBRE Group
will launch an international valuation team in Singapore in a bid to
expand its global corporate services business in Singapore and the rest
of Asia.
Singapore is considered an ideal place given its central geographic location and strong economy.
With the launch, a high number of investors can now obtain customised advice on cross-border property listings across the region.
“While
China is the recognised economic powerhouse in the region, it is not
the only venue experiencing cross-border investment,” said Danny Mohr,
Executive Director for Asian Reits, who will be leading the team.
Last
year, cross-border investment volumes soared to US$15.41 billion
(S$19.86 billion), marking a 177 percent increase from US$5.57 billion
(S$7.18 billion) in 2009.
CBRE Research noted that acquisitions
are now dominated by Asian investors rather than Western players. It
added that there will be renewed interest in Japan among foreign
investors, as the market hits bottom.
Meanwhile, CBRE’s
Singapore team now includes Senior Director Rhys Harvey, who moved from
Hong Kong last year to become Head of CBRE’s Global Corporate Services
Division. He is joined by Garth Chapman, Regional Director and Damian
Kells, Southeast Asia’s Fast Moving Consumer Goods Director.
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