Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Remember Me

Lost your password?

Register Now

Loading...
  • Capital Markets
  • Events
    • Mingtiandi 2025 Event Calendar
    • Mingtiandi APAC Residential Forum 2025
    • Mingtiandi Singapore Forum 2025
    • Mingtiandi APAC Logistics Forum 2025
    • Mingtiandi APAC Data Centre Forum 2025
    • Mingtiandi Tokyo Forum 2025
    • More Events
  • MTD TV
    • Residential
    • Logistics
    • Data Centre
    • Office
    • Singapore
    • Tokyo
    • Hong Kong
    • All Videos
    • Post-Event Stories
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Ivanhoe, Oxford, Allianz See Tech Firms Driving Singapore Opportunities

2022/10/18 by Beatrice Laforga Leave a Comment

https://player.vimeo.com/video/761448780?h=73a2c947e2

 
As Singapore’s commercial property market slows down, industry leaders from major fund managers Ivanhoe Cambridge, Oxford Properties and Allianz Real Estate continue to see US and Chinese tech firms driving demand for suburban offices in the city-state.

Oxford Properties Asia Pacific head of investments, Alessandro Fiascaris, said that the Toronto-based investment firm remains positive on the Lion City’s property market despite rising inflation and interest rates.

Fiascaris was speaking on a panel at the Mingtiandi Singapore Forum on Tuesday, where he said that tech firms’ interest in Singapore means suburban office assets are growing in appeal compared to prime office assets where cap rates hover around three percent.

“Southeast Asia is a big target for American and Chinese tech companies to expand so a lot of capital and resources are being deployed in the sector,” he said, referring to the main drivers of suburban office demand. “We have been a believer of life science globally and we’ve seen a significant trend in Singapore.”

Offices Tightly Held

Speaking at the same forum, which was sponsored by Yardi, JLL chief executive for Southeast Asia Chris Fossick said the volume of office space outside the central business district will continue to grow as more regional centers like Jurong Lake District and Paya Lebar are developed.

Danny Phuan, Head of Acquisitions, APAC, Head of China, Allianz Real Estate

Danny Phuan of Allianz Real Estate

“Is the market going to be oversupplied? The general consensus is it’s not,” he said. “We don’t think there will be any let up in demand other than what is relative to just economic variations.”

Prospects for the suburban office sector may be bright but Allianz Real Estate’s APAC head of acquisitions, Danny Phuan, said few commercial assets deals are currently happening in Singapore.

According to Phuan, owners are holding on to their prime office buildings as they wait for market conditions to improve, making it difficult for core investors to close quality acquisitions.

“Most of the prime offices are all held by well capitalized asset owners and there’s no need for them to sell if the price is just not what they expected,” he said. “For us, we are still on the lookout to do good deals in Singapore.”

Despite the slowdown, Phuan continues to be optimistic on the office market given Singapore’s reputation as a financial hub and as a launch pad for companies going global.

Opportunities in Singapore

George Agethen, APAC co-head at Ivanhoé Cambridge, shared the same view, saying during the panel, which opened the 200-person event, that his team continues to look for investment opportunities in the city.

Agethen said that Singapore’s alignment with a growing global focus on sustainable real estate is creating opportunities for value-add strategies.

“We certainly do see an opportunity still in Singapore as well as the other major cities here in Asia, in improving assets to a top level grade A asset that we will hold on to,” he said.

JLL’s Fossick expects Singapore’s overall office market to remain as an attractive investment destination due to its rental growth potential — which he expects to hit 10 percent this year. He also noted that declining yields may have bottomed out already.

Singapore saw commercial deals drop 95 percent to S$498 million in the third quarter from the preceding three months, according to a report by Cushman & Wakefield.

Shed Shortage

Aside from the office sector, another attractive asset class for Ivanhoé Cambridge’s Agethen is the city’s logistics segment where rents are climbing due to tight supply and occupancy rates.

Ivanhoé Cambridge maintains interest in the sector via its investment in Logos, which was absorbed by Hong Kong logistics giant ESR earlier this year.

Oxford Properties, which is among the largest shareholders in ESR, takes a similar point of view. Fiascaris also said the Canadian pension fund manager is seeing a rise in demand for investment grade warehouse space in the city, at the same time that delivery of new stock fails to keep pace with demand.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Events Tagged With: daily-sp, Danny Phuan, Featured, George Agethen, Ivanhoe Cambridge, JLL, MTD TV, MTD TV Video, On-site MTD TV, Oxford Properties, PImco Prime, Singapore, Singapore Focus Forum

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Sidhu PAG
Knight Frank, PAG, SLB, Yardi Spy Recovery Signals in Singapore Commercial Markets
Tetsuya Fujita of CBRE IM
Unified, ESR, CBRE IM, Rava See Opportunities and Obstacles in Japan Sheds: MTD TV

More MTD TV Videos>>

People in the News

Tan Hee Teck Genting
Asia Real Estate People in the News 2025-05-19
Yian Wang_AEW Headshot_Li
AEW Asia Chief Jason Lee to Depart, Yian Wang Promoted to APAC CIO
Jungkhwan Kang Greystar
Asia Real Estate People in the News 2025-05-12
Jason Leong M&G
M&G Names Jason Leong to Lead Asia Fund as van den Berg Heads for the Exit

More Industry Professionals>>

Latest Stories

Jason Huljich of Centuria
BGO Teams With Centuria to Buy Three Sydney Sheds From Goodman for $130M
Cheng Kar-Shun, NWD
Hong Kong Banks Refinancing $11B in New World Loans and More Asia Real Estate Headlines
Weave Living founder and CEO Sachin Doshi
Weave Reunites With BlackRock to Buy Singapore Apartment Complex for $77M

Sponsored Features

How to Create a Win-Win for Investors and Occupiers
Lingeage Logistics Cold Storage Complex
Mount Maunganui Cold Storage Facility for Sale
7 in 10 Senior Directors Confident in Data Centres, but Talent Shortage Will Widen

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Mingtiandi 2025 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Memberships
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2025 China Advertising Media Ltd (Samoa). All rights reserved.

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy. AcceptRefuse