URA Promotes S'pore To Middle East Investors At Property Event

Source : The Straits Times, Oct 15, 2007

THE Urban and Redevelopment Authority (URA) is leading a team to Dubai to attract Middle East investors to Singapore.

It will set up a Singapore Pavilion at 'Cityscape Dubai', a three-day conference cum exhibition, to promote the Republic as a great city to live, work, play and invest in.

This is the first time such a pavilion is set up in a premier international property event in the Middle East.

Mr Choy Chan Pong, Director of Land Administration, Urban Redevelopment Authority (URA), will be speaking at the conference on Singapore's success in 'attracting global investments into our real estate market and keep investors abreast of the exciting investment opportunities that Singapore has to offer'.

'Participating in such international property events has reaped tremendous benefits for Singapore as a whole,' said Mr Choy Chan Pong (above), URA's Director of Land Administration. -- ST PHOTO: JOYCE FANG

Other organisations exhibiting in the Singapore Pavilion from Tuesday include the Singapore Tourism Board (STB), Building and Construction Authority (BCA), Marina Bay Financial Centre, Lend Lease Retail, Ong & Ong and the Singapore Institute of Architects (SIA).

The URA will showcase Marina Bay, Singapore's future downtown, which will be more than just a business and financial centre. It will also offer a wide range of quality residential, shopping, dining and entertainment facilities as well as a necklace of public attractions framing the bay within a lush green environment.

The STB will highlight Orchard Road and the Southern Waterfront while SIA will exhibit some of the architectural works of their member firms.

Mr Choy said: 'Participating in such international property events has reaped tremendous benefits for Singapore as a whole. A clear example can be seen in the South Beach project.'

'URA had met with Istithmar at last year's Cityscape Dubai and presented them with the exciting investment opportunities we have in Singapore.'

The Istithmar Group which partnered local developer City Developments Ltd and the North American based El-Ad Group, successfully tendered $1.689 billion for the Beach Road project.

More than 250 Middle East companies currently have operations based in Singapore. There is also an increasing Middle East presence in Singapore's real estate market, from individuals buying private homes to equity funds investing in mega development projects.