SINGAPORE and CHICAGO, Aug. 21, 2024 (GLOBE NEWSWIRE) — Christie’s International Real Estate, a global leader in luxury real estate, has officially entered Singapore, marking a key milestone in its Southeast Asia expansion strategy.
Operating from a newly renovated historic shophouse on China Street in Singapore’s Central Business District (CBD), Christie’s International Real Estate Singapore will specialise in residential brokerage services with a focus on Singapore’s established luxury real estate market. It will also assist Singapore-based private and institutional investors in investing in real estate opportunities around the world through the brand’s extensive global network. The firm is led by Singapore-based Harmeet Bedi and Dipika Bedi, along with Himmat Singh and Rohini Singh, the long-time owners of Christie’s International Real Estate’s India branch.
The team brings a wealth of experience to the new venture: Himmat and Rohini Singh each have over 25 years of experience in luxury real estate, while Harmeet Bedi has over 30 years of expertise in banking and real estate investment management, including 10 years in C-suite leadership roles, most recently as CEO of Singapore-based Prime US REIT Management Ltd. Dipika Bedi complements the team with over 20 years of experience in advertising, marketing, art sales and event management.
The two companies will reintroduce Christie’s International Real Estate to the Singapore market under new ownership and management. Luxury real estate has experienced continuous growth in Singapore for over a decade. Singapore’s high standard of living, stable political environment, robust economy and favourable tax regime continue to steadily attract buyers and investors, reinforcing a strong long-term growth foundation for the luxury real estate market. For example, detached homes, especially the popular Good Class Bungalows (GCBs) with land areas of over 15,000 square feet, are valued at S$35 million to S$65 million (US$26.8 million to US$49.7 million). This reflects Singapore’s reputation as one of the most prestigious real estate markets in the world.
Notable developments are further cementing Singapore’s position as a leading luxury real estate destination. Luxury developments such as 32 Gilstead in District 11, where a unit sold for S$14 million (US$10.7 million), and the recent en bloc sale of Kew Lodge on Kheam Hock Road for S$66.8 million (US$51.1 million), highlighting the rising values of prime real estate in this highly sought-after precinct.
“Furthermore, Keppel Land’s redevelopment of 19 Nasim in the upscale Nasim district highlights the sustained demand for luxury properties in Singapore’s most sought-after areas. Upcoming launches in Marina Bay and River Valley underscore the continued vibrancy and appeal of Singapore’s luxury real estate market, reinforcing Singapore’s position as a premier destination for luxury investment.”
“Singapore is a tight-knit, well-capitalized and brand-driven luxury real estate market where buyers and sellers expect the highest level of service, which is exactly what Christie’s International Real Estate delivers,” said Harmeet Bedi, managing director of Christie’s International Real Estate Singapore. “We are confident that discerning clients in Singapore and across the region will appreciate the brand’s customized service and international network.”
“Given the current dynamism and potential of Singapore’s luxury residential real estate market, and the growing need for global investment opportunities by both private and institutional investors based in Singapore, now is the perfect time to reintroduce the Christie’s International Real Estate brand to Singapore,” adds Himmat Singh, co-managing director, Christie’s International Real Estate Singapore. “Rohini and I are delighted to expand our long-standing partnership with Christie’s International Real Estate. With the brand’s world-class marketing, unparalleled international network and commitment to the finest service, we are bringing one of the luxury real estate industry’s most recognised and trusted brands to one of the world’s most sophisticated real estate markets.”
Christie’s International Real Estate Singapore will expose properties both locally and internationally through the Christie’s International Real Estate network, which has brokerages in approximately 50 countries and territories. Clients will also have access to an exclusive marketing partnership and relationship with the iconic Christie’s Auction House for the sale of fine art and luxury goods, including wine and watches. Christie’s International Real Estate maintains a close relationship with Christie’s Auction House, enabling clients of both parties to leverage the unique synergies between the worlds of luxury real estate, fine art and luxury goods.
“As we expand our presence in Southeast Asia, we see great potential for the Christie’s International Real Estate brand, particularly in Singapore with Harmeet and Himmat at the helm,” said Helena Moyas de Forton, managing director and head of EMEA and APAC, Christie’s International Real Estate. “Their extensive industry experience, unparalleled knowledge of the Singapore property market and commitment to bespoke, first-class service will position Christie’s International Real Estate Singapore as the firm of choice for luxury real estate clients in Singapore.”
Christie’s International Real Estate has affiliates across Asia, including Dubai, India, Taiwan, Vietnam and Japan.
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About Christie’s International Real Estate
Christie’s International Real Estate has been successfully selling premium real estate around the world for over 30 years. Through an invitation-only affiliate network spanning approximately 50 countries and territories, Christie’s International Real Estate provides unparalleled service to clients worldwide in the luxury end of the residential real estate market. For more information, please visit christiesrealestate.com.
Himmat Singh, Rohini Singh, Deepika Bedi, Harmeet Bedi
