Global property firms showcase projects here

April 16, 2008
Global property firms showcase projects here
M'sian developers making their presence felt at Cityscape Asia 2008
By ARTHUR SIM

IN a light moment at the Cityscape Asia 2008 conference yesterday,
Urban Redevelopment Authority chief executive Cheong Koon Hean
said: 'For those interested, I still have land to sell.'

Ms Cheong, who gave the keynote address at the conference, was
referring to the redevelopment of Tanjong Rhu, a former shipyard
area, and how urban planning can help enhance value and 'bring about
real estate opportunities'.

She was also priming the audience for much larger real estate
opportunities at Marina Bay, revealing that so far it has attracted
$16.5 billion of investments.

Malaysia's UEM Land, which is behind the 24,000 acre integrated
development at Nusajaya in the Iskandar Development Region of Johor,
is also looking for investors at Cityscape Asia 2008.

Interestingly, while much was made of a memorandum of collaboration
that UEM Land signed with US giant General Electric International
(GE) in September last year on safety, security, infrastructure and
the environment, UEM Land managing director Wan Abdullah Wan Ibrahim
said there was no discussion on 'buying and selling of land to GE'.

GE is a 'facilitator and project manager' whose services were offered
gratis, he explained.

UEM Land does want to sell property, and Mr Wan Abdullah said that at
its latest Horizon Hills development, 50 per cent of the 465 units
sold so far have gone to Singaporeans or foreigners working in
Singapore.

While Cityscape Asia is very much a platform for the real estate
industry to market its projects and services, the only Singapore
developer exhibiting this year is City Developments Ltd (CDL).

It is part of the 'Singapore: Building Green Pavilion' supported by
the Building and Construction Authority.

Nevertheless, CDL said it is proud to be participating.

Major companies with representation at Cityscape Asia 2008 were from
Hong Kong, Malaysia, Singapore, the UK, Germany, the United Arab
Emirates, Canada, Thailand, Indonesia, Vietnam, China, Brunei, Italy
and the US.

Malaysian developers, however, are making their presence felt, with
UEM Land and SP Setia taking up large exhibition spaces.

Also making their mark are developers from the Middle East, including
Dubai World's real estate unit Limitless.

Since opening its South-east Asian headquarters in Singapore in
December, Limitless has been increasing its investments in Asia.

At Cityscape Asia 2008, it will showcase three South-east Asian
projects - Malaysia International Halal Park, Puteri Harbour in
Malaysia and Halong Star in Vietnam - representing some 1,285
hectares of land to be developed and an investment of some US$100
billion.

EastLiving.com.sg

Contact Stuart Chng: (65) 9691 9907
Email: stuart.chng@eastliving.com.sg

EastLiving - Singapore Property and Real Estate DB