theceomagazine.com | 43but this proved to be a challenge because of
Singapore’s economic climate. “Singapore is
not going through a high-growth period,”
Miguel states. “GDP growth has been in the
low two per cent in the three years since the
company merged, so opportunities in the
market are very competitive at the moment.
Singapore is too small and the growth rate
is insufficient for the company to grow.”
So the company ramped up its efforts in
the other countries it operates in. “The two
traditional markets we are very involved in
are China and India. These are extemely
large real estate markets, much larger than
Singapore, and over the years the local
developers there have risen to meet our level
of competency and execution. Many of them
now have the same capabilities as we do. So,
in order for us to do well in those countries,
we had to recognise that the competitive
landscape is no longer the same compared
with 10–15 years ago. We had to recharge
our team and get the right kind of leaders- locals – to lead the team.” So far, Miguel
believes, the company is progressing positively
in China and India.
“We are now well positioned for the
future, taking both markets to the next
level with new leaders, a new strategy, and
a new focus while we continue to operate
within the Singapore market,” he says.
Ascendas-Singbridge also set its sights on
Australia. “We have a pretty sizeable presence
now in Australia based out of Sydney,”
Miguel says. “Ascendas Reit owns a
substantial chain of warehouses and suburban
office buildings. On the parent side, we now
own two office buildings.”
With a broad reach across Asia–Pacific,
Ascendas-Singbridge ensures it maintains
strong relationships with its suppliers.
Operating across the real estate and property
development sector, the company requires the
services of several other companies to uphold
its high standards. Miguel says the company
values all its suppliers, whether they are
commercial real estate services firms,
construction companies, security system »“ Internally we have a
‘one team, one culture,
one future’ corporate
structure. The whole team
is motivated to perform
and put in their best.”
“Ascendas-Singbridge is a valued partner for CBRE. As our
relationship continues to evolve, we further align our offering
to support its strategies, allowing us to engage on a more
meaningful level and focus on delivering superior outcomes
to Ascendas-Singbridge.” – Pauline Goh, CEO, Singapore
and South East Asia, CBREWhen it comes to real estate, we see potential everywhere. CBRE turns scale into strength, square feet into
strong returns and property into prosperity. How can we help you turn your real estate into real advantage?
Interview | INSPIRE