British real estate consulting firm Chesterton Global is back in Singapore after selling its stake in a local consultancy earlier this year.
It has made a "fairly significant" investment in a new local property consultancy called Chesterton Singapore, Chesterton Global group chief executive Robert Bartlett told a press briefing on Monday.
Speaking at Chesterton Singapore's office in the Royal Group building in Raffles Place, Mr Bartlett declined to reveal the amount invested but said Chesterton Global hopes to use Singapore as a base for regional expansion, which would likely involve "millions of dollars".
Chesterton Global holds a 70 per cent stake in Chesterton Singapore, which is led by veteran property consultant Donald Han.
The remaining 30 per cent stake in the consultancy belongs to Mr Han and individual executive directors.
Chesterton Global is the parent company of Chesterton International, which previously held a 30 per cent stake in a local property consultancy called Suntec Chesterton that was a joint venture with Suntec Investment.
Suntec Investment bought out Chesterton International's stake in June this year for an undisclosed sum.