FROM THE ED­I­TOR

Singapore Business Review - - FROM THE EDITOR -

Wel­come to Sin­ga­pore Busi­ness

Re­view’s an­nual prop­erty is­sue. Prospects are look­ing pos­i­tive for both the res­i­den­tial and com­mer­cial spa­ces for the rest of the year with a sharp jump in trans­ac­tion vol­umes in 2017 com­pared to 2016 de­spite the de­clin­ing trend in prop­erty prices. In the first half of 2017, sales of pri­vate res­i­den­tial units reached a to­tal of 6,039 as com­pared to only 3,675 units sold in the same pe­riod last year, rep­re­sent­ing a 64% year-on-year in­crease.

Mean­while, ti­tanic merg­ers are un­der­way with Proptech shak­ing up the real es­tate in­dus­try. Our an­nual rank­ings on real es­tate firms re­veal that more than half of the top 20 largest agen­cies slashed their sales­force as tech­nol­ogy in­no­va­tions opened up new plat­forms for con­sumers to han­dle their own prop­erty trans­ac­tions di­rectly in­stead of hir­ing a prop­erty agent. Case in point: Prop­nex and DWG’S merger, fol­lowed by Or­ange Tee and Ed­mund Tie.

In the ar­chi­tec­ture arena, firms foray over­seas amidst bleak out­look in the lo­cal con­struc­tion scene. Ris­ing staff and ma­te­rial costs lo­cally have led them to more de­vel­op­ments in Thai­land, Viet­nam, and Malaysia.

This is­sue also bears the cov­er­age of Sin­ga­pore Busi­ness Re­view’s 20 Hottest Star­tups Panel Brief­ing 2017. Along with other in­dus­try ex­perts, Grab’s manag­ing di­rec­tor Ankur Mehro­tra and Zalora’s manag­ing di­rec­tor Gi­ulio Xiloy­an­nis shared what made their star­tups shine.

En­joy the is­sue!

Tim Charl­ton

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