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Singapore Market Outlook 2020

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The Singapore real estate market is expected to retain its lustre this year, against a backdrop of a relatively more positive economic outlook in Singapore.

Real estate investors should continue to look favourably to Singapore, with low global interest rates benign growth and a strategic asset allocation strategy. Broadly, Colliers Research expects total investment sales to increase by 6% year-on-year (YOY) to S$31.3 billion in 2020, given the strong interest in Singapore real estate, especially in the commercial property sector.
 
In 2020, Colliers expects the office, hotel and residential property sectors to post mild growth. The industrial and retail property sectors should continue to stabilise, but will still remain fragile given near-term risks.
 
Download this Radar report on the outlook of Singapore's real estate market, as we share deeper insights into the trends of the hotel, office, retail, residential and industrial property sectors in Singapore and share recommendations for investors and developers on the opportunities to leverage on. 

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Singapore Market Outlook 2020

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Rick Thomas

Managing Director | Asia

Emerging Markets

Singapore

As Managing Director of Emerging Markets, I am responsible for expanding Colliers’ client base and identifying new business and opportunities for cross-border collaboration in partnership with the Managing Directors of our emerging markets businesses. Our emerging markets portfolio includes operations in Indonesia, Korea, Philippines, Taiwan, Thailand and Vietnam.

 

Based in Singapore, I have over 22 years of experience in the commercial real estate industry. 

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Dominic Peters

Associate

Industrial Services

Singapore

I am a real estate industry veteran, having  an experience of 25 years in development consultancy and the marketing of industrial properties in Singapore. As Colliers' Head of Industrial Services,  I bring to Colliers my leadership strength and a proven ability to drive success in the business.

Prior to joining Colliers International, I held senior positions in other global real estate consultancy firms, helping to develop and grow their industrial property marketing business in Singapore. I also have extensive experience in property management across various real estate segments, including residential and retail developments.

Throughout my career, I have worked with various clients, ranging from private owners to Real Estate Industrial Trusts (REITS). Here are some of the clients that I have represented: 

  • AIMS AMP Capital  Industrial REIT

  • Boustead Projects Ltd

  • Dolphin Engineering Pte Ltd

  • Focus Network Ltd

  • Frameworks Pte Ltd

  • National Semi-conductor

  • OEL Holdings Ltd 

  • Penguin Ltd

  • STIE Integrated Engineering Ltd

  • Stone Marine Pte Ltd 

  • Technics Offshore and Marine LTD

  • Thomson

  • Trinity Offshore

With my wealth of experience as well as passion and deep understanding of the industrial property market, I will be able to provide strategic advice and formulate action plans to spearhead growth in Colliers’ industrial services and consultancy business, including built-to-suit assignments, sale and leaseback arrangements, and lease renewal, space expansion or relocation services.

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Govinda Singh

Executive Director

APAC Capital Markets | Hotels & Hospitality | Advisory

Singapore

Govinda, a member of RICS and registered valuer, is a chartered certified accountant with a postgraduate diploma in economics and a certificate in business valuations, who began his career at Pricewaterhouse in audit and tax advisory.

Having worked as an Operations Manager for Hilton, he was the Financial Controller at the luxury Lanesborough Hotel, at which time he worked closely with the Rosewood and Starwood hotel groups at both the local and corporate level.

Govinda joined PKF in London in 2005 where he was a Managing Consultant within the Hotels and Leisure Valuation and Consulting  practice. He subsequently joined BDO’s Real Estate Valuation and Consulting  team in 2012, where he was a Director responsible for the EMEA, Caribbean and Asia-Pac regions.

Govinda joined Cushman & Wakefield Singapore in 2015 where he was a Director within the Asia-Pac Valuation and Advisory team.

He is now an Executive Director at Colliers International advising on, and valuing investments involving mixed-use, specialist and alternative asset classes across Asia and further afield.

He is also one of Colliers’ dedicated specialist portfolio advisors and valuers in the region, and globally.

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WeiLeng Tang

Managing Director | Head of Capital Markets Singapore

Capital Markets & Investment Services

Singapore

WeiLeng is the Managing Director of Colliers in Singapore and is responsible for the business's growth strategy and direction. As an enterprising real estate service solutions provider, she currently leads a team of experts advising clients on their business space requirements, property investment choices, managing and driving their asset performance, and valuing their assets.  

Capital Markets is her expertise. Her first foray into real estate began nearly three decades ago when she was headhunted by government service. She has since accumulated a wealth of experience in selling buildings, hotels and development land. She sold her first office building at 20 Malacca Street at Raffles Place – just barely one year into her new role. That same relentlessness saw her through many more deals, some bigger others smaller. Over the years, she has developed an excellent network and invested in strong relationships.

She often gets the question, "What drives you?", which she usually answers, "the inexplicable joy I see on my clients' face when I close a deal!" By building trusted relationships, she has successfully entered into joint ventures with both CapitaLand and City Developments Limited (CDL), during her stint on the buy-side with Wells Fargo (then Wachovia Real Estate).

She considers the undertaking of the Singapore office's leadership role as a significant career progression for her. Together with her team of experts, they have multiplied their profitability by six-fold since 2016, and the team continues to collaborate with colleagues across markets to deliver strong results for shareholders.

Having three daughters of her own that are coming of age, she understands her people's aspirations and recognises the acceleration of success of her people as one of her key focuses, where she mentors and nurtures them in becoming the next generation of leaders.

Colliers has given her tremendous space to accelerate her success, and she would like to accelerate yours too. Connect with her today!

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