By Romesh Navaratnarajah:Best known for en bloc deals, Credo Real Estate has now made its foray into property fund management.
Karamjit Singh, Managing Director of Credo, said the firm has entered into a joint venture (JV) with Republic Investment Management, a local fund management company not operating within the property sector.
"They will do what it takes to raise capital while we will put the capital to good use," he said.
About one-and-a-half years ago, Credo started helping estates of deceased, trustees, families and family-owned companies sell their properties.
In addition, Credo hopes to build up its existing investment sales business for commercial and industrial spaces as well as land. Apart from that, they are also planning to boost residential project marketing.
"Our approach is to steer our relationship with residential developer clients away from the traditional 'supplier of marketing manpower' role in favour of being a strategic partner who helps them identify new trends and make sense of changing market behavioural patterns," said Singh.
Credo also engages in research and consultancy as well as valuation.
Set up on 15 April 2002, Credo began with just two people operating out of a small office at Asia Insurance Building (now the Ascott Singapore Raffles Place). It now has a 50-strong staff and is based at DBS Building Tower 2. Related Stories: OCBC gives negative outlook for Keppel Land
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