PropertyBT: Building empires - The Teo family’s real estate legacy
In the latest episode of PropertyBT by The Business Times, a podcast of BT Correspondents, you are treated to an insightful conversation hosted by Leslie Yee, senior correspondent and Rachel Teo, director of Daniel Teo group of companies and a third-generation leader. This episode is a treasure trove of insights into Singapore’s real estate market and is especially valuable for those interested in property investment and the dynamics of family-run businesses.
A family history
The foresight that some Singaporean families had in the early days of property development. He mentions how the Teo family, particularly through the efforts of Teo brothers Thye Chor and Thye Hong, started accumulating land in the 1950s. This move capitalised on post-World War II rebuilding efforts in Singapore, laying the foundation for the family’s extensive real estate empire.
Teo, the director of Daniel Teo group of companies and a third-generation leader, provides a personal glimpse into her experiences growing up in a family deeply entrenched in the real estate business. Her recounting of childhood memories, such as being taken on property site visits by her grandfather and father, brings a human element to the story.
Passion for investments
Teo candidly shares her journey, including the decision to join the family business instead of pursuing architecture due to her grades. Her passion for real estate and her eventual influence on the family’s investment portfolio make for compelling listening.
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One standout portion of the podcast is when Teo discusses co-founding Fraxtor, a real estate investment platform. She and her co-founder launched Fraxtor to make global real estate investment accessible to investors with smaller capital.
Challenges of business
Teo provides insights into the complexities and opportunities in this space and highlights the innovative nature of modern real estate investment, making it a must-listen for potential investors.
She opens up about the unique challenges and strategies and shares her thoughts on property taxes, inheritance tax, and how macroeconomic factors influence these areas. Additionally, her perspective on the potential of the luxury retirement housing market in Singapore offers valuable ideas for anyone considering venturing into this niche.
Legacy of the Teo family
Their discussion then turns to the Teo family’s contributions to the community. Teo talks about ‘The Private Museum,’ a family initiative aimed at supporting the arts and preserving heritage properties. This part of the podcast underscores the role of corporate social responsibility in the real estate sector, showing that profit and philanthropy can go hand in hand.
Perhaps one of the most intriguing parts of the episode is her thoughts on the future of senior living spaces in Singapore. The pair then turn to the challenges of high land and construction costs, and the need for a collaborative approach with government and private sectors.
Listen now to the podcast which is packed with valuable information and insights into Singapore’s real estate market.
Teo’s unique perspective as a third-generation leader in a prominent real estate family, provides interesting insights for anyone who is thinking of property as a wealth building family legacy.
For more episodes, go to bt.sg/podcasts and if you have feedback or an episode idea, please get in touch at btpodcasts@sph.com.sg.
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Written and hosted by: Leslie Yee (lyee@sph.com.sg)
With Rachel Teo, third-generation property leader
Edited by: Emily Liu & Claressa Monteiro
Produced by: Leslie Yee, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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