Being one of the most economically developed areas in Asia, Singapore is now a sought after place for making investments in the property market. In the past couple of years the Republic of Singapore has experienced an influx of foreigners from various countries who have settled here for better opportunities. These have not only boosted the property market but also led to the increase in number of the property developers in Singapore.
Most of the Singaporeans live in housing estates constructed around developed neighbourhoods. Private housing properties, apartments and condominiums are also quite a popular option for living in Singapore.
The Real Estate Developers’ Association of Singapore (REDAS) comprises the important property developers, who aim to promote real estate development in Singapore through this association. For achieving this purpose, they regularly hold dialogues with statutory boards and ministers in matters related to property development in the city-state. The property developers of this association also engage themselves in research related to the quality and productivity of various types of properties in Singapore.
Developers wanting to set up residential properties in Singapore should be well aware of the various pollution safety laws of the land along with the rules and regulations of statutory boards. Ignoring these laws might result in facing legal hassles in future.
Types of Properties in Singapore
The various types of properties available in Singapore can be categorised as follows:
• Public Housing: This is the main housing category in Singapore. Different types of HDB flats (1-5 room flats, executive apartments, executive maisonette, BTOs, DBSS and jumbo flats) fall under this category.
• Private Apartments: Condos, apartments, town houses, duplexes, shop houses and HUDC flats consist of the private apartment category of housing in Singapore.
• Landed Properties: Semi-detached houses, bungalows, cluster houses and intermediate and corner terraces collectively represent the landed property in Singapore.
• Commercial/Industrial Properties: Factories, land, offices, shop houses, warehouses, retail spaces and malls can be considered a part of commercial/industrial properties in Singapore.
Property Developers in Singapore
The major reputed property developers who are involved in large scale real estate developments in Singapore are listed below:
• Capital Land – It deals in offices and residential properties and entertainment complexes.
• Centre Point – The quality homes offered by Centre Point make it one of the top selling real estate developers in Singapore.
• Far East Organization – It is one of Asia’s largest real estate groups, which develops various commercial and residential properties in Singapore.
• City Development Limited – Hotels as well as residential and commercial complexes are developed by this property development company.
• GuocoLand Limited – Listed on Singapore Exchange limited, the company deals in property development and property investments.
• Jurong Town Corporation International – It is mainly involved in developing commercial properties in Singapore, including construction of factories, workshops, and warehouses.
• Keppel Land Limited – As a part of the prestigious Keppel Group, Keppel Land handles the construction of residential complexes, hotels and resorts, and other commercial properties in Singapore.
• Ascendas Pte Ltd – This property development company in Singapore offers real estate services that include project management, renovation, estate and property management. In addition to this, it also manages private real estate funds.
• Wheelock Properties Ltd – Formerly known as Marco Polo Developments Limited, it is a reputed property developer and investor company in Singapore, focusing mainly on luxury residences.
• AFP Ltd – As a leading property developer in Singapore, AFP Land has successfully executed construction projects in Batam and Malaysia. Some of the notable projects done by this company include the Orchard Towers in Singapore and the Palm Resort in Malaysia.
• Allgreen Properties Ltd – As a part of the Kuok Group, this company was listed on the Singapore Stock Exchange. They also trade in building supplies with property investments and development at the core of their business.
• Chip Eng Seng Group – The property investment activities of this leading construction firm in Singapore are mainly controlled by the CEL Developments Pte Limited.
• Mapletree Investments Pte Ltd – Being one of the leading real estate companies in Singapore, Mapletree Investments offers a variety of services related to property management. Developing signature projects is one of its core areas of operation.
• Suntec City Management – It is a reputed real estate management company in Singapore having interests in various property and real estate developments. Besides real estates the company also builds shopping malls.
A booming economy along with the settlement of foreigners in Singapore has catalysed the property market in this beautiful city-state. This has led the real estate developers in Singapore to experience in the last few years an increase in demand for quality real estate properties.