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Showcasing Asia as a rich field for investment

The region's extraordinary growth makes it one of the more exciting parts of the world to tap real estate opportunities

INSTITUTIONAL INVESTMENT adviser Pamfleet (HK) sees MIPIM Asia as a platform to provide foreign institutions a chance to meet experienced local investors and operators.

'Foreign investors still face significant obstacles when investing in Asia, despite improving market accessibility and transfers of international best practice,' said director Andrew Moore.

Pamfleet is an independent and privately owned property investment and development adviser formed in 2000 as a management buy-out of Jardine Fleming's direct property fund management business.

The company specialises in identifying and acquiring underperforming assets and repositioning them to add value. Pamfleet part-owns and provides total asset management services for property worth about US$1billion.

As operating partner and co-investor with Morgan Stanley Real Estate Funds and Pioneer Global, Pamfleet was involved in selling Vicwood Plaza to Macquarie Global Property Advisors and acquiring 139 Queen's Road Central from DBS Bank and 77 Des Voeux Road Central from Hang Seng Bank. The companies also bought 62 flats from the receiver at Villa Pinada, Tsuen Mun.

Pamfleet is also repositioning shopping centres such as the KCP retail centre in Kowloon City, 68 Yee Wo Street in Causeway Bay and an apartment block at 27-29 Village Terrace in Happy Valley.

'Pamfleet's objectives from exhibiting at MIPIM Asia are to meet old friends, make new business contacts and have fun,' Mr Moore said.

Singapore's Urban Redevelopment Authority is linking with the Singapore Tourism Board, Sentosa Leisure Group and Sentosa to market projects in Marina Bay, Orchard Road and Sentosa Cove.

The authority's chief executive, Cheong Koon Hean, said: 'We also plan to highlight a number of immediate real estate investment opportunities available in Singapore's city centre, such as commercial site Beach Road, which is opposite the landmark Raffles Hotel, and other commercial and hotel sites in the central business district.'

Mrs Cheong said MIPIM Asia was timely because it brought together the world's key property market players and showcased many real estate investment opportunities in the region.

'Asia is one of the fastest-growing regions in the world and investors from all over are actively sourcing for real estate investment opportunities here,' she said.

Mrs Cheong said the real estate markets in many countries in the Asian region, including the mainland and India, were attracting a lot of foreign investment.

'The Singapore property market is also doing well as it is supported by the strong economy, which grew by a robust 6.4 per cent in 2005. The prospects for the property market are favourable, with the economy expected to grow by another 6.5 per cent or 7.5 per cent in 2006,' she said.

'The development of the two Integrated Resorts and other tourism initiatives will also give a strong boost to the real estate market in Singapore. So it is

an opportune time for investors

to look at real estate investment opportunities in Singapore and other parts of the Asia-Pacific.'

Circle Software East Asia, another long-standing Malaysian exhibitor at MIPIM Cannes, has joined the show's debut in Hong Kong to look for opportunities to work with local firms.

Business development manager Bobby Tan said: 'We expect to meet a different group [of industry professionals] who wouldn't necessarily go to France [for MIPIM Cannes].'

Circle Software creates advanced real estate development and investment analysis software applications for the property industry.

The company's major software applications include analytical tools for real estate development and redevelopment feasibility studies, a valuation engine and asset management software, and a budget development and analysis programme that enables advanced financial monitoring and tracking of real estate projects. Its applications are used in Malaysia, Singapore, Hong Kong, Vietnam and, to a smaller degree, the mainland.

Energy and environmentally friendly office design service AET Flexible Space (HK) will take part in MIPIM to promote its Flexible Space System concept, which uses under-floor air-conditioning to achieve energy and cost saving and improved indoor air quality.

Company director Waigo Ng said that, given the steady and strong growth of the market in Asia, MIPIM Asia could give participants opportunities to meet their target markets.

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