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!