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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Daily Briefing: Richest developers saw decline; Offices, hotels among top investment choices

And new overseas projects launching in Singapore.

Forbes has just released its 2016 ranking of the worlds richest people, with 17 billionaires from Singapore making it on the prestigious list. Close to half of them are involved in the real estate business, but for many, their fortunes have dwindled amid Singapores weak real estate market. Read more here.

Some 47 percent of the wealth advisors surveyed by Knight Frank said their ultra-high net worth (UHNW) clients will invest more in commercial properties over the next 10 years, with offices and hotels predicted to remain the investments of choice. The report also revealed that the respondents said warehousing and logistics could overtake shopping centres and high street retail. Find out more here.

Two new overseas properties are set to launch in the city-state this weekend (5 to 6 March). Homegrown developer TA Corporation will unveil its first large-scale project in Phnom Penh, while Chengdu Galencia will showcase Chelsea Residences in Chengdu, the first one in Singapore from a mainland Chinese developer. TA Corps twin tower project, called The Gateway, was officially launched last Sunday (28 Feb) in Cambodia’s capital. Read more here.

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