Top Commercial Real Estate Companies in Singapore

The commercial real estate sector in Singapore is supported by the country’s progress as a leading business, shopping and entertainment center in Asia. Commercial properties in the country could be mainly classified into office, retail and industrial spaces.

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TRINITY HOUSE INVESTMENTS3 +65 6909 3635
info@trinityhouseinvestments.com

Trinity House Investments (THI) is a boutique private equity real estate investment firm that carries out deal sourcing, structuring, due diligence, and asset management on behalf of its accredited investors. THIs value lies in its ability to source property investments both in the UK and other selected regions, as well as forming club funds with its group of core investors to invest in these assets. THI will typically co-invest in the transactions and manage the assets thereafter.

MG GLOBAL PROPERTY CONSULTANTS12 +65 6325 3631
info@mg-global.com.sg

MG Global is an established premium business space solutions provider that delivers high value commercial real estate consultancy services for corporations worldwide. With profound understanding of performance imperatives in the evolving business environment, MG Global unearths businesses space potential, translates precise & efficient solutions into substantiate business savings, and maximizes returns on every investment decision for our esteemed clients. We have been entrusted with complex global expansion plans by countless international renowned corporations such as Starbucks, British Council, Mercedes Benz Financial Services, Daewoo GTL and Summit Petrochemical (subsidiary of the Sumitomo Group), arming us with rich experience and expertise in expediting businesses growth, benefiting corporations across industries. Through the development of MG Globals core competences and unfailing client centric service approach, our esteemed clients are relieved from complex processes and …

ZENITH REAL ESTATE14 +65 6280 4753
admin@zenith-res.com

Zenith Real Estate Services is a professionally run firm, established by a few trusted passionate individuals. It is a boutique firm that aims to develop an endearing and firm relationship with their partners, clients or associates alike. We connect people with great homes and real estate investments in Singapore and around the World and we shape the future by empowering our clients with the adequate knowledge through developing a trusting relationship with us, thereby allowing them to make the right decisions for their real estate needs. Mission Connecting people with great homes and real estate investments in Singapore and around the World. Vision We shape the future by empowering our clients with the adequate knowledge through developing a trusting relationship with us, thereby allowing them to make the right decisions for their real estate needs. Values The 3 Ps – People, Partners and Passion. Respect the People that we work with as Lifelong Partners, continuing to grow togethe…

SINGAPORE LUXURY HOMES4 +65 9766 1678
info@sgluxuryhomes.com.sg

Singapore Luxury Homes (SLH) is made up of Sunita Gill & Kaizar Karkaria who are the founders and CEOs. We are the first dedicated luxury real estate team in Singapore with over 15 years experience. We guide families and individuals to find their dream homes and places of business, in Singapore and abroad. In addition, we partner with the top family offices across the region to provide insightful consultation for their clients portfolios. Kaizar & Sunita are one of Singapores most Prominent Luxury real estate consultants and have helped hundreds of buyers to find their dream homes both in Singapore & overseas resulting in over $2B million dollars of closed real estate transactions. At Singapore Luxury Homes (SLH), we have built a community of trusted clients who have become our close community friends. Their trust ensures that we sell their homes at the right record breaking prices and in the quickest time possible. Their trust in us have resulted in making the right purchasing an…

CITI COMMERCIAL22 +65 6600 5520
leasing@citicommercial.com.sg

Citi Commercial is a leading real estate agency with a focus on the commercial office space sector. Cresa Citi Commercial was founded in 2009 to help companies manage their leasing needs in Singapore by providing customized, fast and efficient consultancy services. Till date, Citi Commercial has helped many businesses relocate and expand their business spaces in Singapore.

PINNACLE ESTATE AGENCY1 +65 9876 0972
sumitro@landsway.com

Pinnacle Estate Agency (CEA Licence No.: L3010718G) is the leading real estate agency in Singapore providing unparalleled personal service, effective real estate marketing strategies, and real estate education to the public. Every client is served personally by our Key Executive Officer (KEO), Mr. Sumitro Ong who holds BSc. (Real Estate) (Hons.) from the National University of Singapore (NUS), and brings with him more than 10 years of experience in the real estate industry. Our effective real estate marketing strategies begin with pricing our clients properties right and make them shine online. Our in-house media team captures our signature virtual tour, professional photos, and home walkthrough video for all of our clients properties both for sale and for rent. We ensure premium placement on all real estate listing portals, digital marketing campaigns on social media, and co-broking with our network of more than 30,000 real estate agents in Singapore. With maximum eyeballs reached,…

TRADE & UNION26 +65 8125 6637
hello@tradeandunion.com

Trade and Union is a global creative agency specialising in providing fully blended solutions primarily across Hotels & Resorts, Food & Beverage, Luxury, Lifestyle, Travel, Destination and Tourism. As storytellers and brand builders, Trade & Union conceptualises the stories that are yet to be told, shape unique brand identities, develop differentiated strategies, design new spaces and more. Emulating the functions of an internal department, Trade and Union works in close collaboration with its clients in real time. With a diversified team across studios, geographies and time zones, Trade & Union is uniquely positioned to provide worldly insights, extraordinary designs, creative and strategy-led solutions that help its clients achieve their commercial goals. Whether a bar, a yacht, a luxury brand, or a commercial real estate, Trade & Unions goal remains the same; to create meaningful experiences.

CENTROPI - EFFICIENCY AS A SERVICE3 +65 6977 9806
getstarted@centropi.com

At Centropi, our mission is to help the worlds largest energy users meet their full potential as stewards of a sustainable future by unlocking energy efficiencies in their commercial real estate portfolios. As Japans largest Lighting as a Service company since 2009, weve helped thousands facility owners reduce their energy bills and carbon footprint with an investment model that removes financial and operational risk called Lighting as a Service. Today, our technological advantages coupled with our ability to execute coordinated portfolio-wide installations allows us to deliver risk-free LaaS to an ever-growing customer base. From our new APAC headquarters in Singapore, we look to duplicate our success in Japan across the Asia Pacific Region as we expand the aaS model to more services and technologies that improve profitability, improve operational efficiencies, and help our customers surpass their sustainability goals.

CORPORATE LOCATIONS - SINGAPORE6 +65 6391 5212
info@corporatelocations.com

Corporate Locations is a dynamic office agency team that specialises solely in helping businesses find the best office space for rent/buy in Singapore to suit their exact requirements. All our services are free of charge and without any obligations whatsoever. We cover all established offices in Singapore and are totally independent to offer our clients truly impartial advice. Follow our company page for regular updates and insights! You can also find out more about what we do here: http://www.corporatelocations.com.sg/

REALESTATEDOC.CO16 +65 9180 1197
ivan.lim@realestatedoc.co

Redoc.co is the intelligent digital document, contract lifecycle and work-desk for real estate professionals and sales-driven businesses to manage their transactions, data and close deals easily. As a cloud-based front-office revenue and deal management software, our tools help sales and revenue-driven businesses to win more deals, track your business pipelines, never miss a date, and eliminate paperwork. Sign your deals electronically and through video conference for remote and cross-border transactions to ensure you never miss a deal! The RED platform escalates human engagement through smarter data management and workflow simplification, redefining the future of work for real estate professionals all over the world. We place people at the centre of our technology, providing smarter tools for optimal performance of your physical real estate assets. RED has a proven track-record on the following: ✔ Drive Business Volume ✔ Reduce Sales Turnaround Time ✔ Reduce Business Admin Cost…

LEE KIM TAH HOLDINGS LTD13 +65 8750 4250
info@leekimtah.com

The Lee Kim Tah Group is one of Singapores foremost property development and construction companies and a pioneer of the island city-states world-renowned public industry.

AMBIENT SYSTEMS7 +65 8261 7619
team@ambientsystems.ai

Ambient Systems is a Singapore-based software company that provides innovative financial management solutions for sustainable infrastructure industries. Our software is powered by AI, which allows us to provide our customers with a number of benefits, including: * Improved forecasting: AI can be used to improve forecasting accuracy, which can help businesses to make better financial decisions. * Reduced risk: AI can be used to identify and mitigate risks, which can help businesses to protect their financial assets. * Increased efficiency: AI can be used to automate tasks, which can help businesses to save time and money. We are committed to providing our customers with the best possible financial management solutions. Our team of experts has a wealth of experience in the technology and financial industry, and we are constantly innovating to stay ahead of the curve. We are focused on these green industries: vertical farming, sustainable commercial real estate and facilities managemen…

MANULIFE US REIT19 +65 6230 9685
compliance@manulifeusreit.sg

Manulife US REIT (MUST) is a Singapore-listed Real Estate Investment Trust (REIT) that principally invests in a portfolio of commercial real estate in key markets in the United States (US). As a leading US office REIT listed on the Singapore Exchange (SGX), we recognise the importance of driving value creation and are committed to providing Unitholders with sustainable distributions. Aligned with our sponsor and its sustainability efforts, we are committed to investing responsibly, and strive to integrate the best Environmental, Social and Governance (ESG) practices into our operations. We also maintain a high standard of stewardship where we own and operate assets. Manulife US REIT is managed by Manulife US Real Estate Management Pte. Ltd which is a part of Manulife Investment Management. Manulife Investment Management is the asset management arm of Manulife Financial Corporation, a global financial institution that has protected investor assets since 1887. Manulife US REIT repres…

EXECUTIVE HOMES SINGAPORE2 +65 9011 8055
hestercalkhoven@ehc.com.sg

At Executive Homes, we have many years of real estate experience in Singapore and have assisted a significant number of families and businesses to settle in easily and swiftly. Our expertise enables us to identify the right property solution for you or your business. We map your personal needs or your business requirements, taking care of your lease negotiations and any additional administration, allowing you to focus on your family and your new business and to settle into your new environment with confidence and ease. Executive Homes – We understand your needs.

FINE GRAIN PROPERTY14 +65 6557 0875
info@finegrainproperty.com

Fine Grain Property is an Irish-owned international commercial real estate investor and operator. Its business park property portfolio across Ireland consists of almost one million square feet of commercial real estate, worth in excess of €220 million, and hosting more than 60 clients from large international and domestic businesses.   Fine Grain Property owns and manages properties in businesses campuses in Athlone, Cork, Dublin, Galway, Limerick, Maynooth and Shannon, providing workplace solutions for growing businesses to attract and retain talented employees. We breathe new life into overlooked or underinvested commercial properties and land, through selective acquisition and tenant-focused repositioning or development strategies. We are passionate about creating great workplace communities for our clients that energise their employees. Our high-tempo, highly experienced team has a proven track record of driving performance and delivering results Fine Grain Property …

ANACLE SYSTEMS LIMITED185 +65 6914 2666
info@anacle.com

Anacle Systems (08353.HK) is a leading edge technology company. Supported by an international network of partners, we pioneer innovative yet practical technologies for the asset and energy management industries across the globe. Founded based on the fundamental premise that continuous innovation is a significant contributor to long-term corporate performance, we focus on technology, notably the combination of software and hardware that will empower our clients to optimise their business processes, to do things faster, better and cheaper.

HUTTONS SALES & AUCTION2 +65 6253 0030
info@huttonsgroup.com

By partnering with Huttons 4300 associates actively in our marketing effort and engaging the property buyers, we deliver a fast, effective and transparent process for Corporate and Private Property Sellers to achieve an optimal price for their property through our array of unparalleled services in Auction, Private Treaty, Expression of Interest and Tender.

PROPERTYBANK9 +65 8333 1338
ask@propertybank.com.sg

PropertyBank helps businesses locate their office, industrial and retail space. Our integrated team of specialists are committed to understand your unique business requirements, develop enterprising solutions to meet your occupational, operational and business investment needs. PropertyBank provides a wide range of property services to meet the increasing needs for businesses and real estate. Being equipped with extensive years of commercial experience while constantly being in tune with the commercial real estate market allows us to offer stellar advice on property occupation, operational, investment strategy, asset management, development and building consultancy. Powered by talent and technology, PropertyBank, an innovative thinking organisation, seeks to partner with you as your business real estate arm. Through our integrated solutions approach, our clients business and real estate objectives are always met. Visit us at http://www.propertybank.com.sg or schedule a consultation…

KEPPEL REIT21 +65 6803 1818
huihui.liang@keppeldcreit.com

Listed by way of an introduction on 28 April 2006, Keppel REIT is one of Asias leading real estate investment trusts (REITs) with a portfolio of Grade A commercial assets in key business districts pan-Asia. Keppel REITs objective is to generate stable income and long-term growth for Unitholders by owning and investing in a portfolio of quality income-producing commercial real estate and real estate-related assets in Singapore and pan-Asia. The REIT has assets under management of approximately S$8 billion in Singapore, key Australian cities of Sydney, Melbourne, Brisbane and Perth, as well as Seoul, South Korea.

CBRE SINGAPORE115 +65 9826 8181
matt.madden@cbre.com

CBRE Singapore believes in investing in people and infrastructure in order to strengthen our ability to offer the best to clients. Our local market knowledge and extensive business offering keep us ahead of the competition. Consequently, we are widely regarded as the leading market leader in terms of commercial leasing, investment sales, residential project marketing and commercial asset management in Singapore. We also act as headquarters for CBREs strategic South East Asia regional hub.

Top Commercial Real Estate Companies in Singapore

Overview

Industry driven by growth in commercial sector and retail

The commercial real estate sector in Singapore is supported by the country’s progress as a leading business, shopping and entertainment center in Asia. Commercial properties in the country could be mainly classified into office, retail and industrial spaces.

SingStat data shows that as of December 2021, the industrial segment accounted for around 78% of the available commercial real estate space, the office segment amounted to around 12% and the balance 10% was dedicated for retail. Based on SingStat data, between 2016 and 2021, the available office and retail real estate space in Singapore grew at a CAGR of 1%, and industrial space grew at a CAGR of 2%.

The industrial segment mainly includes business parks, factories and warehouse spaces. The industrial property segment in Singapore is largely supported by growth in the manufacturing sector, and the increase in warehousing and logistics requirements.

Demand for the office real estate segment is mainly driven by strong tech and financial sector growth in Singapore. The country’s status as a key tech and financial hub in Asia attracts international companies into Singapore to establish their offices and expand their operations. Within the Central Business District (CBD) of the country, most of the office spaces are leasehold properties, while freehold office developments are very rare.

The retail real estate segment is highly dependent on the retail sector growth of Singapore, which is primarily supported by international visitors to the country. SingStat data shows that prior to the pandemic, in 2019, around 20% of the tourist receipts to Singapore was derived from shopping activities.

One of the most liquid and volatile commercial real estate markets in the world

Singapore is one of the top 25 liquid commercial real estate markets in the world, as per research from Real Capital Analytics (RCA). There is a strong appetite for Singapore’s commercial properties among global institutional real estate investors. According to a survey conducted by Coldwell Banker Richard Ellis (CBRE) in 2022, Singapore is the third most preferred market for cross-border real estate investments in the Asia Pacific region.

On the other hand, domestic real estate investors in Singapore are also keen on investing outside the country. These market dynamics make the commercial real estate industry in Singapore highly liquid and volatile. As per RCA Capital Liquidity Scores, during the pandemic, Singapore witnessed the sharpest drop in commercial real estate market liquidity and at the same time, showed the strongest recovery during 2021, as the negative effects of the pandemic started to subside.

Key Trends

Strong recovery in office real estate as corporates return to office spaces

The office property market remained healthy during 2021, mainly driven by strong demand from the technology and finance sectors. As per Cushman & Wakefield’s research, the technology and finance sectors accounted for around 72% of the new leases within the CBD in 2021. The demand was more focused on good quality office spaces. As per research from CBRE, rents for grade A office spaces within the core CBD were up 4% YoY and islandwide grade B space rents were down 2% YoY during 2021.

The office market showed strong improvement during Q4 2021 as businesses geared up to return back to offices during 2022 and resume expansion plans. Though work from home is no longer a default option in Singapore from January 2022, the 50% capacity limit on employees allowed at work spaces still prevails in the country.

Industrial growth driven by prime logistics and high-tech properties; slow recovery for retail

Research from CBRE points out that all industrial real estate sub-segments except business parks outside the city fringe witnessed growth in rents during 2021. As per Cushman & Wakefield’s research, within the industrial segment, rents for prime logistics and high-tech properties grew 2% YoY during 2021. The increase was mainly driven by the digital transformation and e-commerce plans of corporates, which require logistics and warehouse spaces, and growth in biomedical and electronics sectors.

The retail real estate market performed better in 2021, compared to 2020. However, the segment is still exposed to tough challenges as retail businesses remain affected by pandemic safety measures and lower international tourist arrivals. Islandwide prime retail rents fell 2% YoY in 2021, better than the 9% decline recorded in 2020, as per statistics from CBRE. Within the country, the suburban region fared well and posted 2% YoY growth in prime retail rents in 2021, as per CBRE.

Strong momentum in investments; higher focus on quality and sustainability

Commercial real estate investments in Singapore picked up momentum in 2021. Total investments during 2021 were up 200% YoY to USD 10 billion, from USD 3 billion in 2020, as per data from RCA. The research data further shows that around USD 5 billion of these investments in 2021 were sourced from overseas.

The total investments observed during 2021 in the commercial real estate industry was the second highest on record after 2019. As per RCA, nearly two-thirds of the investments in 2021 were channeled into office and retail segments. According to the property price index published by the Urban Redevelopment Authority (URA), based on the data for the central region of Singapore, office space prices fell 6% YoY and retail space prices declined by 4% YoY during 2021.

The commercial real estate supply during 2020 and 2021 remained tight across all segments due to redevelopment plans for properties and pandemic-driven construction delays. As per SingStat data, office space growth remained flat and industrial space grew 1% YoY during 2020 and 2021. Retail space fell 1% YoY in 2020 and recovered by 1% YoY in 2021.

The industry’s focus is shifting towards higher quality, healthy and sustainable green commercial real estate spaces as more investors and tenants are becoming keen about these Environmental, Social and Governance (ESG) features than ever before in the past. This trend is evident across all commercial real estate asset segments.

Key Statistics

  • As per data from SingStat, as of December 2021, Singapore had around 8.2 million sqm of office space, 6.2 million sqm of retail space and 51 million sqm of industrial space.
  • According to URA data, the office space vacancy rate was at 12.8% in Q4 2021, versus 11.8% in Q4 2020 and 10.5% in Q4 2019. The retail space vacancy rate was at 8.1% in Q4 2021, compared to 8.8% in Q4 2020 and 7.5% in Q4 2019.
  • As per data from SingStat, supply in the pipeline for office space was at 916,000 sqm, retail space was at 460,000 sqm and industrial space was at 4.7 million sqm, as of December 2021.
  • Indexes published by the URA show that office space prices and office space rentals seen in Q4 2021 in the central region of Singapore were down 16% and 7% respectively, compared to the numbers prior to the pandemic in Q4 2019. Retail space prices and retail space rentals observed in Q4 2021 in the central region were down 9% and 20% respectively, from the levels observed in Q4 2019.
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By Gerald Bong
Published on 07 August 2023