SINGAPORE - Property consultancy CBRE on Wednesday (Nov 20) said it has appointed Png Poh Soon as its head of valuation and advisory services for Singapore, with effect from Jan 2 next year.
Mr Png last served as senior director of valuation and advisory at Knight Frank, where he led various appraisal projects, including Mapletree Business City, Frasers Tower and Jurong Country Club. Prior to that, he was Knight Frank's head of research and consultancy for four years.
CBRE said Mr Png brings with him over 17 years of experience in real estate professional services, with a specialisation in land acquisitions and property tax.
"He will focus on driving the continued growth and success of CBRE's valuation and advisory services, delivering reliable and high-quality real estate valuations to clients," the company said.
CBRE's announcement comes a day after Savills Singapore announced the hiring of CBRE's investment sales team. Jeremy Lake, Galven Tan, Yap Hui Yee and Sophia Lim left CBRE in September, and began work in Savills Singapore last Friday, The Business Times reported on Tuesday. Savills said the move was well-timed, given that more capital inflows are expected in Singapore from regional markets
Commenting on Mr Png's appointment, CBRE's Mr Armstrong said his expertise as a licensed appraiser across all asset types will greatly benefit the group's corporate and institutional clients.
"His vast experience in working with leading multinational companies, financial institutions and regulatory bodies, as well as his extensive network of industry contacts, will further extend CBRE's reach and offerings to grow our valuation business; in particular, expanding our share of pie in mortgage valuation."
Mr Png, who holds a Master of Science (Real Estate) from the National University of Singapore, began his career working at the Singapore Land Authority and the Inland Revenue Authority of Singapore.
He will report to Moray Armstrong, managing director of CBRE Singapore, as well as Vamshi KK Nakirekanti, head of valuation and advisory services for South-east Asia.