(2007-03-26) Cheap Singaporean property Singapore woos investors at Cannes real estate fair

European investors get to know real estate in Singapore scene a little better, opening up possibilities for new business deals, at an international real estate conference in Cannes.

And it is hoped that many will use Singapore to enter the Asian market.

Just an hour into the start of the MIPIM conference, hundreds of delegates swarmed the 200-square-metre Singapore Pavilion put up by the Urban Redevelopment Authority (URA).

It is Singapore's largest display at the annual MIPIM Fair - a highlight on the real estate event calendar.

Singapore's pavilion showcases 7 private and public organisations including Keppel Land, City Development, Lend Lease, HDB and the Marina Bay Financial Centre.

URA also hopes to raise Singapore's profile and draw attention to investment opportunities in the country.

Mark Goh, Head of URA's Marina Bay Development Agency, said: "A few recent sales sites have seen joint-ventures between foreign investors and local developers, like the Marina Bay Financial Centre as well as Orchard Turn sales site. We've also seen foreign investors who've never participated in Singapore's real estate scene, for example Dubai Properties bidding for the Collyer Quay site."

A focus at this year's conference in Cannes is the booming Asian economies as the growth and increasing accessibility of China and India have made Asia a target for investment.

And property consultants noted that Asia, along with some European markets, experienced the most significant increases in activity last year.


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