UAE-Singapore trade up 50% |
|
Network this!
With United Arab Emirates-Singapore trade increasing by over 50 per cent between 2004 and 2006, reaching in excess of $30 billion, bilateral business, investment and trade ties are set to enter into a new era of progress and development. Dubai investors are diversifying in Asian luxury properties and Singapore developers see strong interest from UAE patrons, a report released this week suggested.
Dubai's red-hot property market continuing to show strong returns, a recent flurry of purchases by investors has driven real-estate prices to record new highs across the UAE. However, although far from being saturated, industry observers say that it is no longer a necessity to consider the country as the only basket for well-calculated, profitable ventures.
Seasoned property enthusiasts are already venturing beyond the borders to new markets with budding opportunities with some not-so-new ones that have been in a league of their own. Although mostly institutional investors until now, Middle Eastern individuals are increasingly looking towards the sub-continent and the Far East for new frontiers.
Ong Chih Ching, co-founder and managing director of Singapore's Hayden Properties, said the Middle East, particularly the GCC, is an important market for ultra-high-end property developments.
Hayden, a joint venture between KOP Capital and Emirates Tarian Capital, a unit of Emirates Investments Group, is developing the Ritz-Carlton Residences (RCR) in Singapore's exclusive Cairnhill neighbourhood.
"Even with the global uncertainty surrounding the US economy, Singapore's property market set new records last year. We at Hayden are very pleased that our flagship development, RCR, still managed to be the most exclusive luxury property in Singapore," the managing director said.
Singapore has proven to be fertile ground for a strong property market, with record levels of investment activity in 2006 and 2007. Economists and market watchers anticipate strong demand levels through this year and next, with many expecting expansion all the way through the first quarter of 2010.
In an exclusive, invitation-only road show planned for next week, RCR in Singapore is targeting a particular niche of long-term, premium-property investors with an eye toward high-end service. "Our clients tend to be high net-worth individuals who plan to live in this kind of property for some time. This entails a relatively medium to long-term investment, and this stability is reinforced by the premium brand associated with the residences," added Ong.
© Bahrain Tribune 2008
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Loading ...
Post Your Tender Notices for FREE
(No Sign-in Required)
Zawya Tenders is a Tender Notices service entirely driven by contribution
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
| Tender Notice | Due Date |
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Emirates Aluminium Company | UAE | Metal Production |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
| Dodsal Engineering and Construction | UAE | Construction and Design |
| Roads and Transport Authority - Dubai | UAE | Regulatory and Administrative Bodies |
| Pepsi Cola International (Middle East) | Region-wide | Beverages |
| Emirates Telecommunications Corporation | UAE | Telecommunications Services |
| Commercial International Bank (Egypt) | Egypt | Banking |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 | UAE | Industry |
| ENEC - Nuclear Power Plant | UAE | Power and Water |
| Abu Dhabi DOT - Abu Dhabi Metro | UAE | Infrastructure |
| Dubai RTA - Dubai Metro | UAE | Infrastructure |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Al Safwa - Jeddah Cement Plant | Saudi Arabia | Industry |
| Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway | Bahrain | Infrastructure |
| Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway | Qatar | Infrastructure |
| Al Futtaim Carillion - Marina Hotel (Yas Island) | UAE | Real Estate |