Singapore Real Estate

Middle East investors tapping into South East Asia’s property markets are turning increasing attention to countries such as Indonesia and Vietnam, say the organisers of Cityscape Asia, part of the world’s largest business-to-business real estate event brand.

‘With the shifting of capital away from developed markets facing slumps, the unmet property demands in virtually all sectors in countries such as Indonesia and Vietnam offer investors growth opportunities not available in other markets,’ said Graham Wood, Exhibition Director for Cityscape Asia 2008 which takes place at Suntec, Singapore, 15 - 17 April 2008.

Cityscape Asia is an extension of the successful Cityscape Dubai organised by IIR Middle East. It is a joint venture between IIR Middle East and IIR Singapore, utilising the strengths of the global brand and expert local knowledge.

At the latter end of 2007, Cityscape Dubai smashed all previous records with 52,000 participants from more than 120 countries. Cityscape Asia is set to welcome more than 8,000 real estate professionals and host over 100 exhibitors.

Among Middle East investors taking an increasing interest in South East Asia is Limitless, the property arm of Dubai World, an exhibitor at Cityscape Asia, which is buying a $110m, 30% stake in three units of Indonesia’s biggest property developer by value PT Bakrieland Development.

‘Limitless is expanding in what is South East Asia’s largest economy,’ Wood added. ‘Fundamentally, Indonesia expects to shrug off the effects of a global slowdown with the country’s central bank forecasting growth of 6.2% this year after a 6.3% expansion in 2007′.

The Dubai developer is to work with Bakrieland on the Indonesian company’s Rasuna Episentrum, a residential and office complex in central Jakarta that Limitless can help market to overseas investors.

Less than an hour away from Singapore is Indonesia’s Bintan Island which welcomed 323,600 visitors last year, with one million visitor arrivals targeted by 2012. more…