Singapore, along with Hong Kong, Macau, Taiwan and Australia, is expected to lead the growth in the Asia Pacific region next year, according to Jeremy Helsby, Chief Executive of property consultancy Savills.
He added that Asia will provide almost 50 percent of the global revenue at Savills this year and will be a major driver of growth in 2012, despite the debt crisis in Europe.
“We see greater opportunities for us to grow in Asia than in the western world today,” Helsby said.
For this year, Savills’ China revenue is expected to rise by 20 percent, driven by domestic demand growth in second-tier cities such as Chengdu and Chongqing, as well as premier locations for international investors, such as Shanghai and Beijing.
Last year, Asia accounted for 40 percent of the group’s revenue, while London contributed 50 percent and the remaining 10 percent came from Continental Europe.
Helsby noted that Asia will move up towards 50 percent this year for the company.
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