When considering the purchase of a Singapore condo, it is crucial to also take into account the maintenance and management of the property. Along with the initial price, condos often come with maintenance fees that cover the upkeep of common areas and facilities. These fees may increase the overall cost of ownership but they also ensure that the property is well-maintained and retains its value. To simplify the management process, investors can enlist the help of a property management company, making it a more passive investment.
CBRE, a global real estate services firm, announced on November 27 that Michael Tay will be the new deputy managing director of Singapore Advisory effective Jan 1, 2025. Tay, who is currently the head of capital markets in Singapore, will report to CBRE’s managing director of Singapore Advisory, Moray Armstrong.
In his new role, Tay will provide long-term leadership and planning for the Singapore advisory business. He will work closely with Armstrong to develop and direct strategy, evaluate and execute investments, and drive business growth, including M&A opportunities.
Armstrong expressed confidence in Tay’s abilities, stating, “With over 30 years of experience in commercial real estate, Michael is one of the most experienced real estate professionals and thought leaders in the Singapore market. This is a result of his progression from office leasing to leadership roles across office services and capital markets with CBRE over the past 25 years.”
Tay, who joined CBRE in early 2000, has a wealth of experience in the industry. He spent almost two decades with the office services team, working with some of the largest office building owners and prominent occupiers. In 2019, he took on the leadership role of the Singapore capital markets team, which has played a crucial role in several major investment deals in the country. These include the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial.
Regarding his new appointment, Tay expressed his gratitude, saying, “I am thankful for the trust placed in me and the career growth opportunity that the company has offered. It has been an incredible journey of 25 years and counting. I have thoroughly enjoyed the privilege of advancing my experience with CBRE, working and learning from some of the leading real estate professionals in Singapore.”