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The
global property world is turning its attention to Asia with investors hoping
2009 will be the year to begin picking up potentially ‘undervalued’ assets
ahead of regional economies emerging from the global financial crisis, say the
organisers of the world's biggest international real estate investment event.
"Though
not hobbled by the toxic debts that have paralysed many of their western
counterparts, Asia's main economies are not
immune to the global downturn," said Graham Wood, Group Exhibition Director,
Cityscape.
Some
economists believe, however, that government stimulus packages and interest
rate cuts will turn the tide with signs of recovery possibly emerging as early
as Q4 2009.
“A
surge in investment sales in Singapore saw over $58 billion in property change
hands in 2007 and 2008 and those developers who need to strengthen their balance sheets will
welcome the opportunity to present their projects to potential funding partners
or outright buyers,” said Mr Wood.
Cityscape
Asia has been organised with the assistance of an advisory board, which consists
of industry professionals such as; Nathan Lloyd, Executive Vice President and
Managing Director, MGM Mirage International; Lawrence D. Sperling, Head of Asia
Private Equity, Mercury Partners and Chief Executive Officer, Peak Asia
Management; and Nicholas Loup, Managing Director, Grosvenor.
In
a joint statement, the board commented, "The past few months have been challenging
for all of us working in the real estate industry. But out of the doom and
gloom we are optimistic – trying to anticipate where the next opportunities will
come from and how we can capitalise on them."
"Established
firms, family enterprises and individuals with cash reserves, limited debt and
an appetite for risk are expected to be among the first to begin searching the
Asian market for bargains in coming months," stated Wood.
"Competition
for prime real estate is easing and for investors with money, this could be a
once-in-a-lifetime opportunity.
Predictions of a rebound in Asian property markets are based on
continuing regional urbanisation which has, for example, seen an average eight
million Chinese people move to cities annually over the last decade," he
added.
Cityscape
Asia - part of the world's largest
business-to-business real estate event brand - is an annual networking
exhibition and conference focusing on all aspects of the real estate
development cycle. The three day event
will run from 19 – 21 May 2009 at Singapore’s Suntec.
Top
deal-makers from leading developers, banks, institutional investors and
investment authorities, as well as senior officers from the foremost private
equity funds and investment advisory firms, will gather at Cityscape Asia to
discuss the key issues and investment opportunities.
Some
of the conference highlights include: surviving the global financial crisis;
the future for real estate funds; Asian REITS; markets to invest in for
long-term growth and returns; country spotlights in trouble times; the Asian
retail decade; and green investments.
Cityscape
Asia is an extension of the phenomenally successful Cityscape Dubai, organised
by IIR Middle East, which also include Abu Dhabi,
India, China, Saudi Arabia
and South America.
Cityscape
Asia is sponsored by UK-based Scala Land Group, which presents overseas
investors with alternative opportunities to buy land in the UK.
For
more information about Cityscape Asia 2008 and related events, please visit: www.cityscapeasia.com
Media enquiries
Piet de Jong
General Manager
Baldwin Boyle Shand
Tel + (65) 6538 9211
Mob + (65) 9830 7311
Email: piet.dejong@bbspr.com.sg
Web: www.baldwinboyle.com.sg
Nathalie Visele
Director
Shamal Marketing Communications
Dubai, United Arab
Emirates
Tel.: +9715 0457 6525
Fax: +9714 365 2711
E-mail: nathalie@smc-pr.com
Web: www.smc-pr.com
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