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Property consultant Karamjit Singh sets up real estate investment sales firm
PROPERTY industry veteran Karamjit Singh has established a boutique real estate investment sales firm, Showsuite Consultancy, after leaving his role as senior consultant at JLL Property Consultants at the end of last year.
Joining Showsuite Consultancy as directors are Chia Mein Mein and Pamela Kow. Ms Chia was most recently a director at Colliers International, and has worked in companies such as Knight Frank and Credo Real Estate. Meanwhile, Ms Kow was part of the capital markets team at JLL prior to joining Showsuite Consultancy, has also worked at Credo Real Estate.
Mr Singh was the co-founder and managing director of Credo Real Estate, which used to be the market leader in collective sales before it was acquired by JLL in 2012.
He went on to become the head of residential and investment sales services at JLL, before taking on a consultancy role at JLL at the end of 2016.
Commenting on the market outlook for 2020, Mr Singh said he expects the investment sales market to remain healthy. He sees residential land sales activities picking up this year in comparison to last year, along with a gradual 5 per cent increase in land values.
"Demand for new homes proved resilient last year and most (residential developers) were able to pare down their inventory, thereby reducing the risks of not meeting additional buyer’s stamp duty (ABSD) timelines for most projects," he said in a media statement.
Some major developers are now switching to "cautious-land-buying mode as they add to their new projects pipeline for launch in 2021 onwards", Mr Singh went on say, adding however that this is unlikely to spark an en bloc sale storm this year owing to the supply overhang of new homes.
Mr Singh also co-founded property-technology firm Showsuite in 2016, which offers a digital platform platform that helps developers - among other things - conduct paperless bookings via smart digital contracts.