Good Time for Real Estate Investment' Says Minister at Premier Property Investment and Development Event as FDI in Singapore Property Reaches US$ 3.56 Billion.

Mah Bow Tan, Minister for National Development, Singapore, officially opened the inaugural Cityscape Asia exhibition and conference, which is taking place at the Suntec Singapore International Convention & Exhibition Centre and runs until Thursday 12 April 2007. During the opening ceremony, Mah Bow Tan addressed delegates at the Cityscape Asia conference, highlighting that Singapore real estate had attracted foreign investment worth US$ 3.56 billion in 2006, a five-fold increase on the US$ 600 million recorded in 2004. 

Mr. Mah went on to say that stable, sustainable and robust economic growth was underpinning the regional property markets. In Singapore the government's plans for key development areas, both local and foreign developers have been buying up development sites sold under the government’s sale of site programme over the past few years.
"For example, development of the Marina Bay area has accelerated with the sale of sites integral to that project. Also, the government's US$ 26 million improvement scheme for the Orchard Road area has attracted investors to take up three prime sites over the last two years," he said.
However it could be Singapore's role of regional financial hub, that could drive SE Asian property markets with foreign investors. Strategically positioned both physically and financially, Singapore is ideally placed to enhance its Real Estate Investment Trust (REIT) market.
"Presently 15 REITs are available on the Singapore Stock Exchange, which is second only to Japan in the Asia region. Diversified portfolios offering investors income streams from office, retail, industrial, hotel and logistics combined with their pro-investor tax environment lends Singapore the potential to be the regional hub for REIT listings," commented Neil Hickman, Exhibition Director, Cityscape Asia.
“We are honoured that Mr. Mah has inaugurated Cityscape Asia today, his appearance here further emphasises the importance of the real estate market to Singapore and the region and the calibre and potential of Cityscape Asia," added Hickman. 
Apart from Singapore, exhibitors from Australia, Malaysia, India, Thailand, Vietnam, Indonesia, China and the Middle East, have now confirmed their participation. According to IIR Middle East, organiser of Cityscape Asia the show had been sold out for months, underscoring the strength of the regional real estate market. The three-day event highlights regional investment opportunities, iconic architecture and development best practice to global investors through a world-class conference and up to a total of 8,000 square metres of exhibition space.

Appreciating the massive potential the region has to offer Cityscape Asia has attracted a large contingent of sponsors from the Middle East. Platinum sponsors such as Abu Dhabi-based Sorouh, Saudi major Tanmiyat, Dubai’s Fortune Investment Group and Aqaba Development Corporation from Jordan, have been joined by Singapore’s Urban Redevelopment Authority who are the official supporters of the show.

-ENDS-

For more information, please log on to www.cityscapeasia.com
Photo captions:

Photo 1: Mah Bow Tan, Minister for National Development, Singapore, gives the keynote address at the first Cityscape Asia conference

Photo 2: Mah Bow Tan officially opens the inaugural Cityscape Asia conference and exibition

cuts the ribbon.
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