Singapore is a global city. In a world tense with harrowing geopolitical tension and economic insecurity, it’s a great place to live. It’s not just a great place to live for one or two years while doing business, but it’s an ideal country to make a permanent home. This is something the country has learned as more people come looking at high-end real estate.
Despite the levying of duties intended to cool Singapore’s market, demand for luxury homes remains high.
CNBC recently reported on this predicted growth. They spoke with Ong Chih Ching, executive chairman of KOP, in a recent article. She stated, “We are talking about 8 to 10 million [Singapore] dollar ($5.59 to 6.99 million) properties, so that’s a lot of money.”
This revenue leaves more than enough profit more than enough for renovation, according to Ong Chih Ching.
She estimates it will take Singapore another two or three years for the city to fully get on track with world markets.
One company invested in luxury projects is the ten year old Singapore-based real estate and hospitality company KOP. Their portfolio of high-profile projects such as the Ritz Carlton Residences, Singapore’s Prudential Tower, Franklyn Hotels & Resorts, and Hamilton Scotts, to name a few.
Dubai Holdings was the major shareholder in KOP. When Ong made a management buyout of the 51 percent stake that the group held in KOP, she launched her visibility as one of the most powerful entrepreneurs in Asia. She was even named one of 50 Power Business Women in Asia by Forbes in 2014.
With big dreams and the spirit to realize visions in real estate, Ong is a powerful leader in Singaporean real estate. Her next project is a colossal indoor winter resort in anticipated to open 2019 in Shanghai. With an estimated building cost of 3 billion yuan ($455.89 million), KOP is working with Chinese developers and city developers toward its completion.
With KOP and Ong at the helm, luxury real estate in Asia is alive and well.
from Anthony S Casey and Real Estate http://ift.tt/1m1yWPK