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Home arrow Monthly Property Reports arrow May 2008 Report arrow CB Richard Ellis leads pack in Singapore
CB Richard Ellis leads pack in Singapore Print E-mail
CB Richard Ellis Singapore has revealed that it was the only marketing firm to have closed billion-dollar commercial asset deals in the Lion City over the past two years.
CB Richard Ellis leads pack in Singapore
by Robert Carry
CB Richard Ellis Singapore has revealed that it was the only marketing firm to have closed billion-dollar commercial asset deals in the Lion City over the past two years. The US-based multinational closed the sale of the S$1.04 billion Temasek Tower, the first significant steel-framed building to be constructed in Singapore – the largest private property transaction in 2007, and the sale of Singapore Power Building by architects Group 2 (firm of Ong Chin Bee and Tan Puay Huat), at S$1.01 billion earlier this year.

Other noteworthy transactions included the sale of Hitachi Tower, one of the tallest buildings in Singapore, at S$811 million, 78 Shenton Way at S$650 million, and the collective sales of $625 million at The Grangeford, where Jackie Chan has an apartment, as well as UIC Building at S$600 million. Collectively, the Investment Properties team has chalked up a total of S$5.53 billion worth of investment sales from 2007 to date.

“We have consistently attained the top market position globally by delivering best-in-class solutions to meet any client need,” said Jeremy Lake, Executive Director, Investment Properties. “In Singapore and around the world, our professionals can tap on the industry’s most comprehensive platform to tailor value-added solutions for owners, investors and occupiers of commercial real estate.”

CB Richard Ellis was responsible for more than US$264.2 billion of global sales and leasing transactions in 2007, a figure 55 per cent more than its nearest competitor. The company has also just been ranked as  number one out of the 25 largest US-based commercial real estate brokerage firms by National Real Estate Investor magazine for the fifth year in a row. The ranking, featured in the publication’s April 2008 issue, is based on the aggregate value of sales and leasing transactions completed globally during 2007. The firm sports over 300 offices in 57 countries and nearly 29,000 employees. CB Richard Ellis is one of Singapore ’s top commercial property managers with seven million ft² of prime commercial space valued at more than S$9.0 billion.
 
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