SINGAPORE (THE BUSINESS TIMES) - Real estate agency ERA Singapore on Friday (Feb 4) announced the setting up of a new business unit to deal with big-ticket assets of high-net-worth individuals (HNWI), family offices, developers, institutional investors and real estate investment trusts (Reits).
Named Capital Markets & Investment Sales (CMIS), the department is headed by managing director Steven Tan. He is joined by directors Donald Goh and Desmond Lim, as well as ERA's managing director of investment sales Tay Liam Hiap.
Together, they have about 100 years of experience in the real estate industry with a collective transactional experience amounting to more than $4.7 billion, according to ERA.
It said its new CMIS team will focus on assets, including commercial and industrial buildings, strata offices and retail spaces, retail malls, collective sales, land for redevelopment, shophouses and Good Class Bungalows.
Noting strong demand in industrial properties amid the Covid-19 pandemic, ERA said it is also preparing for a rise in major investment sales and leasing of business-related properties.
"The setting up of the CMIS team is timely as the recent announcement of cooling measures will actually benefit shophouses, industrial and commercial properties, which are ideal for big-ticket investors who are looking to diversify their portfolio," said ERA chief executive Marcus Chu.
He added that the agency also intends to expand into the sales and leasing of commercial and industrial buildings, as it is a "growing sector where many firms are looking to repurpose their spaces for alternative use to maximise their value of investment".
ERA is a subsidiary of mainboard-listed APAC Realty, which holds exclusive ERA regional master franchise rights in 17 countries in Asia-Pacific.