Thursday, May 5, 2011

Commercial Property Hot, Especially Hotels! Super Spot On!

Hi guys, I’m just back from a business trip and will be going away again this weekend after polling day. With all the focus on the elections, I am rather sad because I cannot vote….. again. I have never voted in my life because the opposition has never contested in my area. And guess what, I am again in the only constituency that has the privilege of a walkover. Well, better luck next time.

I was smiling to myself this week. The Straits Times carried 2 articles consecutively that made me smile. The first was on Monday when they highlighted that commercial property was super hot. The second was an article that featured research by CBRE. They anticipated that hotels rates are going to continue to be strong and even trending up in Singapore. This is because visitor arrivals are strong and even with anticipated supply going up, demand will still keep up. The sweet spot is in the boutique hotel segment.

This is all music to my ears as I have been positioning the group’s portfolio towards a commercial bias, especially in hotels. Our Prime Centre conversion has been handed to the team at Ong & Ong and I hope to get beautiful results with the new hotel concept we are bringing to the table. I am very excited and have been following up very closely with the whole process. Agents have been calling to explore interest in selling. They are quoting prices which will give us very good returns but I am keen to own a hotel. But lets see what happens.

I always put my money where my mouth is and well, my students have also done very, very well following my strategies. If you have been following my blog, I have highlighted these trends to you as well. I am looking forward to a long rest after my very last property class end of this month, from the 27 to the 29th of may. The class is nearly sold out even at this point, so if you are keen, book your spaces now.

Till then, God Bless and have a fruitful time voting.

Your Friend,
Andy Ong