ERA Boosts Corporate Real Estate Portfolio by Recruiting Capital Markets & Investment Sales Experts with Transactions Valued Over S$4.7 Billion

The new department comprises industry experts including
(L-R) Donald Goh, Steven Tan, Tay Liam Hiap and Desmond Lim

• The newly established Capital Markets & Investment Sales (CMIS) business unit will deal with big-ticket assets of the high-net-worth (HNW) individuals, family offices, developers, institutional investors and REITs.
• Services include property investments, sales and leasing of commercial and industrial buildings, shophouses, strata commercial properties, land for development, Good Class Bungalows (GCB) and en bloc sales.
• Managing Director Steven Tan will be joined by three key industry leaders, bringing in a collective of close to 100 years’ experience in real estate industry.

SINGAPORE, 4 February 2022 – Singapore’s largest international real estate agency ERA Singapore today announced it is bolstering its presence in the capital markets and investment sales sector with the inception of a new business unit.

To be helmed by Mr Steven Tan, the business unit will deal with big-ticket assets of the HNW individuals, family offices, developers, institutional investors and REITs.

Singapore’s HNW population is projected to increase more than 60% from 2020 to 2025, while the number of family offices setting up in the island rose five-fold between 2017 and 2019 according to Monetary Authority of Singapore.

There is a strong demand in industrial properties during this pandemic time, especially with the rise in e-commerce leading to a surge in logistics and storage services.

All these present opportunities in the industrial warehouse storage services, data centres, business spaces, besides the big-ticket investment sales such as the GCB, residential en bloc sale and shophouse market, which have seen healthy demand and increasing activities since 2021.

The gradual opening of the Singapore economy coupled with ERA’s expansion as an organisation will also coincide with the setting up of the added services as ERA prepares for the rise of major investment sales and leasing of business-related properties.

The CMIS team will focus on assets including commercial and industrial buildings, strata offices and retail spaces, retail malls, en bloc sale, land for redevelopment, shophouses and GCB.

“As the largest international real estate company in Singapore, ERA has been expanding our real estate services that include residential and commercial spaces. The setting up of the CMIS team is timely as the recent announcement of cooling measures will actually benefit shophouses, industrial and commercial properties, which are ideal for big-ticket investors who are looking to diversify their portfolio,” says Marcus Chu, CEO of ERA Singapore. “We will also be expanding into sales and leasing of commercial and industrial buildings as it is a growing sector where many firms are looking to repurpose their spaces for alternate use to maximise their value of investment.”

“We would like to extend a warm welcome to these industry leaders to the OneERA family. With their expert track records, we will be able to offer customised solutions for both individual and corporate clients,” Marcus adds.

The CMIS team comprises the following members, each bringing to the table complementary strengths:

• Steven Tan, Managing Director, Capital Markets & Investment Sales: Almost 30 years of experience in the real estate business. Prior to joining ERA, Steven held the position of Executive Director with an international property consultancy firm. With his stellar track record, he has transacted more than S$1.8 billion worth of investment properties. He was most recently lauded for brokering the first freehold industrial sale in 2020 for 190 Macpherson Road at S$88M. His other notable deals include the collective sale of 2-24 Phoenix Road at S$42.6M which was sold above its reserved price and another industrial building (food factory) at 200 Pandan Loop at S$56.8M. Steven also qualifies as a licensed appraiser with the Inland Revenue Authority of Singapore, a member of the Singapore Institute of Surveyors and Valuers (MSISV) and a member of the Royal Institute of Chartered Surveyor (MRICS).
• Tay Liam Hiap, Managing Director, Investment Sales: Liam Hiap has almost 30 years of experience in the real estate industry, covering both valuation and investment sales. His previous experiences at international real estate consultancies and agencies saw him successfully concluding more than S$1.5 billion worth of collective sales and investment deals, including City Towers, Flamingo Valley, Fairways Condominium, Dragon View Park and Pacific Plaza. Liam Hiap is also a licensed appraiser with the Inland Revenue Authority of Singapore and a member of the Singapore Institute of Surveyors and Valuers (MSISV).
• Donald Goh, Director, Capital Markets & Investment Sales: More than 20 years of experience in the real estate industry and is well-versed in various sectors of the investment market especially commercial and industrial properties as well as residential development sites. Donald has successfully transacted more than a S$1 billion worth of private and JTC industrial properties to REITS, end-users and developers. He also successfully transacted shophouses at South Bridge Road for $27 million, New Bridge Road for $17 million and strata floors at One Sims Lane for $33 million. Donald has also worked as Head of Business Development for a Singapore developer as well as Senior Investment Manager for a SEA real estate private equity fund.
• Desmond Lim, Director, Capital Markets and Investment Sales, Workspace and Culture: More than 15 years of experience in the real estate industry as a commercial and industrial investment broker focusing on managing leasing and sale projects comprising logistics, high-tech and business park facilities, and private and government industrial buildings. Transacted more than S$400 million in sales and leasing thus far, Desmond was involved in the sale of 200 Pandan Loop in 2020 and 190 Macpherson Road in 2021. Besides being an auctioneer, Desmond was also in the Singapore Economic Development Board, JTC and HDB’s panel of service providers where he worked with key stakeholders of new foreign investments in Singapore on their real estate projects.

Collectively, the team’s transactional experience is worth more than S$4.7 billion. They were involved in the collective sales of City Tower (the transacted price of S$401.9 million), Flamingo Valley (transacted price of S$194 million) and Amberville (transacted price of S$183,000,000). Together, they have overseen the transactions of close to 40 property developments — from residences to vacant lands and strata retail units — in Singapore.

Mr Steven Tan, Managing Director, Capital Markets and Investment Sales, of ERA Singapore says, “ERA is a very well-established firm and is the leader in residential real estate. With a team of experienced professionals specialising in different aspects of commercial and industrial real estate, we are confident that we can expand ERA’s offerings and accelerate its business as we see great potential in growing the CMIS not just locally but also in the Asia Pacific region.”

“My team and I have known each other for more than 10 years now where we have worked together professionally while developing close friendships. The synergy that we have will spark a positive influence on how we work, live and play together while growing the new business. We are very motivated and excited to be in this new venture,” Tan adds.

More Mortgagee Sales Expected in 2022

The expansion has been on-going since 2017 as ERA started recruiting industry experts into its Auction and Sales department. Since then, the department has steadily charted growth in their total transaction value, starting from $12,940,000 in 2016 to $70,789,463 in 2020.

During the pandemic, the company also pivoted and held the industry’s first virtual property auction, which received very encouraging responses with multiple bids and a freehold landed was sold at its price guide of $3.4 million.

Amidst the recent implementation of cooling measures, rising interest rates and the expiry of relief measures for borrowers, more mortgagee sales may be expected in 2022. With the track records of the key members of ERA Auction and Sales department (as follows), ERA strives to strategise and spearhead more innovative initiatives for clients in the new year.

The Auction & Sales Department comprises industry experts including
(L-R) Yvonne Lau, Alison Lee, Carol Quek and Irene Song

Alison Lee, Assistant Vice President, Auction & Sales: More than 20 years of experience in the real estate market. Alison conducted ERA’s first virtual property auction, during which she sold a semi-detached house under mortgagee sale at S$3.4 million. Her notable transactions include a GCB at Oei Tiong Ham Park sold for S$20 million, a detached house at Nim Crescent sold for S$7.2 million, 5 adjoining shophouses at Teck Chye Terrace sold for S$14.62 million and many more.

Carol Quek, Assistant Vice President, Auction & Sales: Carol began her 20-year-long career as a valuer, where she handled corporate and mortgage valuations, compulsory acquisitions and property tax consultancy. Today, she helps her clients put their properties up for auction, private treaty and tender. Her notable transactions include a GCB at Margoliouth Road sold for S$13.6 million, a GCB at Binjai Rise sold for S$12.3 million, a re-development site (24,263 sq ft) at Tyrwhitt Road sold for S$52.11 million as well as 31 warehouse units at Golden Wheel Industrial Building sold for S$23.578 million.

Irene Song, Senior Manager, Auction & Sales: Throughout her 20 plus years in the real estate industry, Irene has brokered a wide range of properties including development sites, residential, industrial, retail and commercial properties. She has also marketed all types of properties by way of auction, private treaty, tender sale and new launches. Her recent sales include an apartment at The Tate Residences sold for $8.6 million, adjoining retail units at Armenian Street sold for S$5.09 million, a retail shop at Novena Regency sold for $1.2 million and a detached house at Jalan Kechubong sold for $6.1 million.

Yvonne Lau, Senior Manager, Auction & Sales: Yvonne has over 20 years of experience in the real estate industry. She currently promotes auction services and generates new businesses for auction, private treaty and tender sale. She has contributed to the successful project sale of over 200 units of medical suits at Mount Elizabeth Novena, 12 luxury apartments at Botanika, as well as an international auction sale of 12 bungalow land parcels at Sentosa Cove.

News Coverage:

EdgeProp Singapore: ERA: From ‘mega agency’ to full-fledged real estate services provider

The Business Times: ERA launches new business unit for capital markets, investment sales

The Straits Times: ERA launches new business unit for capital markets, investment sales

Yahoo Singapore: ERA: From ‘mega agency’ to full-fledged real estate services provider