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OUE Bayfront on Collyer Quay
After a sharp rebound in the first quarter of 2021, Singapore’s property investment volume is set to recapture pre-COVID levels in the coming periods, according to research by Colliers.
The global consultancy said total investment sales in the first quarter rose 25.8 percent from the previous quarter and 47.9 percent from a year earlier to S$3.8 billion ($2.9 billion) as sentiment improved amid the reopening of the city-state’s economy.
In the commercial segment, investment sales surged 377 percent from the previous quarter and 43.8 percent from a year earlier to S$1.1 billion. All calculations exclude mergers and government land sales, Colliers said.
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Rick Thomas becomes Colliers first managing director for emerging markets
Colliers International on Thursday announced the appointment of Rick Thomas to the newly-created position of managing director for emerging markets, effective 1 February.
Thomas will partner with the managing directors of Colliers offices in emerging markets across Asia to accelerate growth, the property consultancy said in a press release. The emerging markets portfolio includes operations in Indonesia, Kazakhstan, Korea, Myanmar, Pakistan, the Philippines, Taiwan, Thailand and Vietnam.
With Thomas moving up to the regional position, the property consultancy also announced a pair of new leadership changes in its Singapore office focused on serving corporate tenants in the city.