for $324 milAdapted from: CapitaLand Investment’s CEO named ‘Industry Figure of the Year’ at PERE awards 2024
It is crucial for international investors to have a thorough understanding of the regulations and limitations surrounding property ownership in Singapore. Unlike landed properties, condos are generally more accessible to foreigners, as they are subject to less stringent ownership rules. Nevertheless, foreign buyers are also required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Despite these extra expenses, the Singapore real estate market’s stability and potential for growth remain highly appealing to foreign investors. This is evident in the continuous influx of foreign investment, as seen in the constant launch of new condos in Singapore. To keep up with the demand, various new condo launches are being introduced to the market, providing attractive options for foreign buyers.
Lee Chee Koon, the group CEO of CapitaLand Investment Limited (CLI), has recently been recognized as the ‘Industry Figure of the Year’ for Asia Pacific at the prestigious PERE Global Awards 2024.
CLI, a leading real estate investment firm, was also acknowledged as the runner-up for ‘Firm of the Year’ in Asia Pacific at the annual PERE awards, which honors outstanding firms, individuals and noteworthy deals in the private equity real estate market over the past year.
Unlike previous years where readers voted for the winners, the 2024 awardees were chosen by a panel of PERE journalists.
In a press release on March 4th, CLI stated that Lee’s recognition as CEO was a result of his instrumental role in driving the company’s transformational growth and significant impact on the private real estate industry in the Asia Pacific region.
Under Lee’s leadership since assuming the role of CapitaLand’s group CEO in September 2018, the company has made strategic moves such as the acquisition of Ascendas-Singbridge in 2019 and the recent restructuring of the CapitaLand Group, which involved the listing of CLI and the privatization of its real estate development arm, CapitaLand Development.
As part of its growth initiatives, CLI invested in real estate investment manager SC Capital Partners Group and acquired Wingate Group Holdings’ property and corporate credit investment management business in 2024. The company is on track to manage a total of $200 billion in funds by 2028.
Adapted from: CapitaLand Investment’s CEO named ‘Industry Figure of the Year’ at PERE awards 2024