Thursday 23 November 2017

Chesterton Global returns to Singapore

British real estate consulting firm Chesterton Global is back in Singapore after selling its stake in local consultancy Chesterton Suntec International earlier this year.

Chesterton Global returns to Singapore

Robert Bartlett was appointed to head Chesterton in 2006 and rowed for Great Britain at the 1992 Olympics

November 22, 2013

It has made a "fairly significant" investment in a new local property consultancy called Chesterton Singapore, said Chesterton Global group chief executive Robert Bartlett in an article in the Straits Times.

Speaking at Chesterton Singapore's office in the Royal Group building in Raffles Place, Mr Bartlett declined to reveal the amount invested but said Chesterton Global hopes to use Singapore as a base for regional expansion, which would likely involve "millions of dollars".

Chesterton Global holds a 70 per cent stake in Chesterton Singapore, which is led by veteran property consultant Donald Han.

Donald Han heads-up the new Chesterton Singapore

Speaking at the official launch of Chesterton Singapore, Mr Han said “more foreign investors and investment funds are likely to descend on Singapore in the next 12 months, as confidence in the local market continues to ride high”

“Singaporeans may view the market as being overpriced, which is keeping yields depressed, but overseas investors see the Republic as a safe haven to park their money.”

The consultancy will launch its first overseas project, Tebrau8 Residences, in the coming two weeks. Located in Iskandar Malaysia, this is a luxurious high-rise residential development comprising 342 apartment units with duplex and dual-key configurations.

Chesterton Singapore is also looking to leverage on Chesterton Global's strength in the United Kingdom's residential segment and introduce UK projects by the end of this year.

Meanwhile executives at Suntec Real Estate Consultants have their eyes set on increasing the company’s presence in Asia and are banking on the Singapore brand to make a name in developing countries that offer the potential for higher returns.

The company was renamed after its majority shareholder, Suntec Investment, bought the company fully from partner Chesterton International and was formally known as Chesterton Suntec International.

With the omission of the Chesterton name, the company is now able to expand anywhere in the region and beyond.

“We have for many years wanted to do more, but like all brand rights it comes with certain geographical or territorial constraints, so we couldn’t go to countries where there’s already a Chesterton,” Managing Director Tan Kian Hoon told TODAY online.

Despite the limitations, the company managed to work on projects in 19 countries across Asia, but it is hoping to increase its footprint even more by actively exploring markets such as Myanmar, Indonesia and Thailand.

“There’s been a lot of talk about India and China being the economic superpowers. While we will never ever ignore these two countries the next area that the whole world is also looking at is Indochina,” said Mr Tan.

 

 

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