Friday, June 29, 2012

Credo forms property fund management JV


Business Times: Thu, Jun 28
[SINGAPORE] Home-grown property agency Credo Real Estate, which is best known for en bloc sales, recently ventured into property fund management.

"We have entered into a joint venture with Republic Investment Management, a local fund management company that does not operate in the property space. They will do what it takes to raise capital while we will put the capital to good use," Credo managing director Karamjit Singh told BT recently.

About 18 months ago, Credo entered a niche area of helping estates of deceased, trustees, families and family-owned companies sell their real estate.

It also hopes to build up its existing business of investment sales of commercial and industrial buildings and land. Plans are also underway to boost residential project marketing. "Our approach is to steer our relationship with residential developer clients away from the traditional 'supplier of marketing manpower' role in favour of being a strategic partner who helps them identify new trends and make sense of changing market behavioural patterns," says Mr Singh.

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