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CANNES, FRANCE: European investors get to know Singapore's property scene a little better, opening up possibilities for new business deals, at an international real estate conference in Cannes.

And it's hoped many will use Singapore to enter the Asian market.

Just an hour into the start of the MIPIM conference, hundreds of delegates swarmed the 200-square-metre Singapore Pavilion put up by the Urban Redevelopment Authority (URA).

It is Singapore's largest display at the annual MIPIM Fair - a highlight on the real estate event calendar.

Singapore's pavilion showcases 7 private and public organisations including Keppel Land, City Development, Lend Lease, HDB and the Marina Bay Financial Centre.

URA also hopes to raise Singapore's profile and draw attention to investment opportunities in the country.

Mark Goh, Head of URA's Marina Bay Development Agency, said: "A few recent sales sites have seen joint-ventures between foreign investors and local developers, like the Marina Bay Financial Centre as well as Orchard Turn sales site. We've also seen foreign investors who've never participated in Singapore's real estate scene, for example Dubai Properties bidding for the Collyer Quay site."

A focus at this year's conference in Cannes is the booming Asian economies as the growth and increasing accessibility of China and India have made Asia a target for investment.

And property consultants noted that Asia, along with some European markets, experienced the most significant increases in activity last year.

Exhibitors said that most enquiries came from European investors interested in joint venture projects in Asia.

They also wanted to know more about Singapore's architectural design capabilities.

Property players in Singapore said that many European developers were looking at long-term investment in Asia but did not know where to start.

So the MIPIM conference in Cannes will be a way to reach out to them, as well as sell Singapore as a launch pad to higher-risk markets like China and India.

Ooi Eng Peng, CEO at Lend Lease Investment Management, said: "People here who haven't invested in Asia yet found that Singapore is an easier country to an extent, has a more stable economy, high protected growth forward and has experience globally. It's easier for us in Singapore in terms of risk returns. Most of the returns that investors expect in Singapore are value added returns which are anywhere between 15 to 18 percent."

Besides wooing investors to drive Singapore's next phase of growth, National Development Minister Mah Bow Tan, who is attending the MIPIM conference, will later hold a panel discussion on development in emerging cities. - CNA/ir

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