Global Property Firms Showcase Projects Here

Source : The Business Times, April 16, 2008

M'sian developers making their presence felt at Cityscape Asia 2008

IN a light moment at the Cityscape Asia 2008 conference yesterday, Urban Redevelopment Authority chief executive Cheong Koon Hean said: 'For those interested, I still have land to sell.'

Ms Cheong: Marina Bay offers big opportunities

Ms Cheong, who gave the keynote address at the conference, was referring to the redevelopment of Tanjong Rhu, a former shipyard area, and how urban planning can help enhance value and 'bring about real estate opportunities'.

She was also priming the audience for much larger real estate opportunities at Marina Bay, revealing that so far it has attracted $16.5 billion of investments.

Malaysia's UEM Land, which is behind the 24,000 acre integrated development at Nusajaya in the Iskandar Development Region of Johor, is also looking for investors at Cityscape Asia 2008.

Interestingly, while much was made of a memorandum of collaboration that UEM Land signed with US giant General Electric International (GE) in September last year on safety, security, infrastructure and the environment, UEM Land managing director Wan Abdullah Wan Ibrahim said there was no discussion on 'buying and selling of land to GE'.

GE is a 'facilitator and project manager' whose services were offered gratis, he explained.

UEM Land does want to sell property, and Mr Wan Abdullah said that at its latest Horizon Hills development, 50 per cent of the 465 units sold so far have gone to Singaporeans or foreigners working in Singapore.

While Cityscape Asia is very much a platform for the real estate industry to market its projects and services, the only Singapore developer exhibiting this year is City Developments Ltd (CDL).

It is part of the 'Singapore: Building Green Pavilion' supported by the Building and Construction Authority.

Nevertheless, CDL said it is proud to be participating.

Major companies with representation at Cityscape Asia 2008 were from Hong Kong, Malaysia, Singapore, the UK, Germany, the United Arab Emirates, Canada, Thailand, Indonesia, Vietnam, China, Brunei, Italy and the US.

Malaysian developers, however, are making their presence felt, with UEM Land and SP Setia taking up large exhibition spaces.

Also making their mark are developers from the Middle East, including Dubai World's real estate unit Limitless.

Since opening its South-east Asian headquarters in Singapore in December, Limitless has been increasing its investments in Asia.

At Cityscape Asia 2008, it will showcase three South-east Asian projects - Malaysia International Halal Park, Puteri Harbour in Malaysia and Halong Star in Vietnam - representing some 1,285 hectares of land to be developed and an investment of some US$100 billion.