SINGAPORE, 14 August 2018 - Colliers International (NASDAQ: CIGI; TSX: CIGI), a global leader in commercial real estate services, today announced that it has made two new appointments to further strengthen its industrial services and capital markets and investment services business in Singapore amid stable outlook for the industrial property sector and brighter prospects in the data centre and business park segments.
The industrial real estate sector in Singapore has started to bottom out this year on the back of abating supply risk, with rental rates stabilising and reversing from the downtrend in 2017. The recent recovery in the manufacturing sector and more positive business sentiment could further support industrial property demand, although the trade conflict between the US and China bears watching.
Ms. Tang Wei Leng (邓慧玲), Managing Director at Colliers International, said, “We believe Industry 4.0 brings exciting opportunities to Singapore’s industrial landscape. Ongoing efforts by the Government to drive innovation and transform the manufacturing as well as the logistics and supply chain management sectors bode well for the industrial property segment over the long term. In addition, Singapore’s ambition to become a big data hub in Asia and the country’s Smart Nation initiative will contribute to the rapid growth of the data centre market, leading to greater demand for data centre space among both investors and data centre providers.”
Mr. Dominic Peters, a seasoned real estate professional, with over 25 years’ experience in development consultancy and the marketing of industrial properties in Singapore, has joined the firm as Senior Director of Industrial Services on 02 July. Dominic – who has held senior positions in other real estate consultancy firms - will 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. Dominic was involved in numerous large industrial property deals in his career, including: 72 Loyang Way sold to Soilbuild Real Estate Investment Trust (REIT); 37 Jalan Pemimpin sold to Sarafield Investments; and 100 Pasir Panjang Road sold to CEL Development.
Ms. Pamela Siow (萧妙真) is a recognised industry professional who brings over 20 years of advisory and investment experience in industrial and logistics portfolio in Asia Pacific, spanning across REITs, private funds, project marketing, sale and leaseback and asset sale and acquisition. Pamela was the Head of Investments at Sime Darby Real Estate Management previously. Prior Sime Darby, Pamela held similar roles at Frasers Logistics & Industrial Asset Management and Cambridge Industrial Trust Management Ltd (now known as ESR Funds Management (S) Ltd). She joined Colliers as Director of Capital Markets & Investment Services (CMIS) on 01 August. Together with the CMIS team, Pamela will help to further deepen the breadth and depth of services offered to institutional investors, industrialists, developers and land owners, particularly in industrial real estate.
Both Dominic and Pamela – who are based in Singapore for their respective roles - report to Ms. Tang.
“We are delighted to welcome Dominic and Pamela to the Colliers family. Their strong grasp of current and emerging trends in the industrial, business park and logistics property market as well as their vast experience in investment sales will complement the firm’s capabilities and help to strengthen its suite of industrial real estate solutions to investors and occupiers, focusing on high value transactions. As we continue to expand our footprint in Singapore, it is important to deepen bench strength and further drive talent development in the firm,” Ms. Tang added.
Colliers takes a multi-disciplinary approach in helping clients to maximise and unlock the value of their property portfolio. Tapping on its expertise and global network, Colliers is fully committed to enhancing client experience by providing actionable insights and bespoke real estate solutions to achieve optimal outcomes for stakeholders, including investors, developers, occupiers and corporations.