Story :  Rachel Williams   
Images : courtesy of Cityscape Asia
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World’s biggest business-to-business real estate event brand returns to Singapore with Cityscape Asia 2008

Middle East and international investors and developers are turning their sights to the rich pickings in Asia in 2008, while some highly-capitalised Asian investors have designs on the Middle East growth story, setting the scene for likely record investment flows between the two regions in 2008.

That’s according to Mr Graham Wood, Exhibition Director for the world’s largest business-to-business real estate event brand and organiser of the Cityscape Asia event to be held Suntec, Singapore on 15th - 17th April 2008.

Mr Wood says this week’s announcement that Dubai International Capital plans to invest US$5 billion in Asia over the next three to four years is a taste of things to come.

“The strong backing for events such as Cityscape Asia from companies like Limitless, a Dubai World company and Aseana Properties, a U.K listed company focused on opportunities in Malaysia and Vietnam shows the level of appetite from investors and developers for cross-regional opportunities,” Mr Wood said.

Singapore already holds one third of Islamic assets under management in Asia and Kuwaiti companies were prominent amid the almost US$54 billion of total property investment transactions in the Republic over the past year. This included a growing number of ‘multi-unit’ residential transactions in prime areas such as Singapore’s Keppel Bay and Goodwood Park area.

“This year’s Cityscape Asia will effectively provide a ‘crossroads’ for these inter-regional investment trends to play out, building on the success of the inaugural 2007 event that saw more than 100 exhibitors from 35 countries, sell out 8,000 square metres of exhibition space,” Mr Wood said.

It will highlight opportunities and iconic architecture in Malaysia, Thailand, Indonesia, Vietnam, Japan and the surrounding Pacific region as well as Singapore itself to an audience of regional and international investors, real estate developers, architects and designers, governments and senior professionals who can also take in a major property conference at the event.

A prime example of growing investor sentiment towards Asia, is Platinum sponsor Limitless, a Dubai World company and a global real estate developer. Limitless has been taking Asia by storm of late with Singapore now the nerve centre for projects in Vietnam, Thailand, Indonesia, Malaysia, the Philippines as well as Singapore itself.

Saeed Ahmed Saeed, CEO of Limitless, describes South East Asia in particular as “one of the most exciting and dynamic regions” providing “an exceptional pipeline of opportunities to demonstrate our core skills of master planning large-scale, balanced projects and waterfront development.”

Asia is home to the company’s first international project – Halong Star – a $220 million mixed-use development in Halong Bay, Vietnam. More opportunities are being pursued in the region, with several deals expected in  2008.

A further perspective is provided by Gold Sponsor Aseana Properties. The U.K listed company is focused on property development opportunities in Malaysia and Vietnam, with approximately $250 million of assets under management.

In late 2007, Aseana announced its first acquisition in Vietnam with the purchase of 202,800 square metres of seafront development land. The estimated total development value of the project is $150 million. The project will include a luxury hotel and resort-themed residences comprising a condominium tower and other facilities such as a conference centre and recreational clubs.

But not just inward investors are taking part in Cityscape Asia.  The MGM Mirage CityCenter being developed on the Las Vegas strip in the United States will be putting on a big show. With a total cost expected to exceed $7.8 billion, the MGM Mirage CityCenter is the largest privately financed development in the US.
 
Singapore is a natural choice as the venue for Cityscape Asia, said Graham Wood. “Singapore gives access to a regional market of 2.8 billion people and with one of the highest per capita GDP it is the Lion of the Asian market,” he added.

“Singapore’s role of regional financial hub connects foreign investors to the South East Asia property markets. Strategically positioned, Singapore has 15 Real estate Investment Trusts (REITs) currently available on its stock exchange, which is second only to Japan in Asia. These diversified portfolios combined with a pro-investor tax environment, could propel Singapore into the foremost regional hub for REIT listings,” said Graham Wood, Exhibition Director for Cityscape Asia.

Cityscape Asia is an extension of the phenomenally successful Cityscape Dubai, organised by IIR Middle East, which also include India, China and South America. The Dubai event at the latter end of last year smashed all previous records with 52,000 participants from more than 120 countries.

For more information about Cityscape Asia 2008 and all related events, please visit: www.cityscapeasia.com

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