Dealmaker Terry Wong takes helm of Colliers’ capital markets push with five-year growth plan

[SINGAPORE] Dealmaker Terry Wong has joined Colliers Singapore as head of its capital markets and investment services team, as the real estate consultancy looks to strengthen its investment sales presence and deepen coverage across asset classes.

Wong, who was previously senior director of capital markets at JLL Singapore, officially assumes his new role on Monday (Nov 3).

After three years of heading a specialised mid-market team at JLL, where he closed notable deals such as the sale of boutique hotel Duxton Reserve for S$80 million, Wong sees the Colliers appointment as a professional leap and a chance to test his leadership mettle.

“It’s a huge jump and it will require a lot of support from clients, friends and colleagues. At this phase in life, before I turn 40, I’m trying to challenge myself to take up this role,” Wong told The Business Times.

Wong’s appointment comes as part of Colliers’ broader growth strategy to strengthen its capital markets presence in Singapore and across Asia-Pacific (Apac).

Bastiaan van Beijsterveldt, managing director at Colliers Singapore, said Wong’s arrival strengthens the team, creating broad expertise across all asset classes within one team – from industrial and office to residential, hospitality, retail and land and collective sales.

Capital markets is a key growth driver for Colliers globally, and having top-tier local talent in Apac is critical to serve institutional and high-net-worth clients individuals, said Sam Harvey-Jones, the firm’s Apac chief operating officer.

Singapore, along with Sydney, Melbourne, Tokyo and Korea, forms one of the firm’s major capital markets hubs. Year on year, the firm’s Singapore revenue grew 30 to 40 per cent, he added.

“There’s a huge amount of money that is domiciled in Singapore, and we want to be taking advantage of that. Singapore is definitely one of our fastest growing capital markets marketplaces in this part of the world,” said Harvey-Jones.

He noted that capital markets are seeing early signs of recovery, with Japan and Australia leading the improvement and expected to drive growth in the second half of 2025.

In the third quarter of 2025, investment sales volume in Singapore rose 36 per cent on quarter, driven by government land sales, portfolio transactions and renewed institutional interest, said Beijsterveldt.

To capitalise on growing opportunities, Colliers recognised the need for a larger and higher-profile team in Singapore. The firm in August appointed former JLL Singapore’s country head Chris Archibold as its managing director for office services, South-east Asia.

Five-year plan

Amid Colliers’ renewed strategy, Wong takes the reins to revitalise the team and its market footprint.

Wong’s appointment marks a new phase of growth for Colliers’ capital markets division, since Tang Wei Leng stepped down from the role and left the firm in February.

“As a capital markets team, we need to be very visible in most of the deals and transactions. With the right focus, we can bring the team back to competing strongly in Singapore’s property market,” he said.

To get there, Wong has a structured five-year plan for the team. The first year will focus on branding and establishing the team’s identity in the market.

Years two and three will centre on gaining traction – winning projects, closing deals and demonstrating capability and reliability. The final two years target visibility – ensuring that Colliers is considered in every relevant property transaction.

“My objective is to demonstrate to the market that while we are a young team, we comprise top-performing professionals with a proven track record of driving success and delivering value to our clients,” he added.

Wong will lead a team of 12 people, including several who previously held roles at JLL Singapore, such as former director of capital markets Alaric Yeo and analysts Houston Wong and Ke Yueyun.

Executive directors Tan Boon Leong and Steven Tan, currently co-heads of Colliers Singapore’s investment services, will also report to Wong. They will take on focused capital markets and investment services roles: Tan Boon Leong will lead industrial deals, while Steven Tan will oversee collective and landed sales, and Good Class Bungalow transactions.

Tan Boon Leong joined Colliers from JLL in January, while Steven Tan came on board in April from ERA’s capital markets and investment services team.

Wong is also focused on grooming junior team members by giving them hands-on project experience, client exposure and meetings with professionals – helping them gain experience and market knowledge.

While he pointed out that it was too early to set firm targets, given the team’s newness and the unpredictability of the market, he said initial successes would provide a foundation to build on.

“If we can close a couple of buildings, I think one or two, it’s a good starting point, and that should form the benchmark and from there, we will build on.”

Retail resilience

On market outlook, Wong sees particular resilience in the retail sector.

“There are always new and stronger brands replacing older tenants. The retail scene is very dynamic, going through constant gentrification due to shifting demographics and consumer preferences.”

He added that lower interest rates are creating more opportunities in the retail space, as properties can be repositioned for different uses, such as food and beverage outlets, spas and education centres, to achieve better rental yields, compared to other asset classes.

According to Wong, his new role as head of capital markets will leverage his experience at JLL, with broadened responsibilities to include strategic planning, crisis leadership and multi-sector coverage.

His immediate priority is to ensure his team is well-versed in market knowledge, while fostering a culture of speed and responsiveness.

“The essence is speed – speed of deal, speed of transaction, speed of replying. When you have speed, people will engage you. Opportunities will come alongside.”

On a more personal note, Wong said that while the role can be stressful, he enjoys and welcomes the challenge.

“It’s like playing a game of chess,” he quipped. “When you move the right piece, you win the game. But if you move the wrong piece, you have to find a way to counter or react to what you’ve done wrongly. Whether you win again depends on your own strategy, which is the essence of a successful team.”