Savills appoints Marcus Loo as managing director

Savills Singapore has appointed Marcus Loo as its managing director with effect from March 2. Loo was previously executive director at Savills Singapore for close to three years and has a strong commercial background. Prior to joining Savills, he spent 13 years at Colliers Singapore overseeing their office services division. “I am honoured to have been appointed for this leadership role. I look forward to the opportunity to build on the growth trajectory of Savills in Singapore”, says Loo.

Savills has been actively expanding since 2010, with the acquisitions of property management companies CKH Property Management and Ace Body Corporate Management, alongside their 650-strong residential brokerage business. These business lines compliment Savills strength in property investment as it continues to grow its presence in collective sales, international capital markets, and project management.

There is renewed confidence across many facets of Singapore’s property markets. Investors and developers, both home grown and international, are actively seeking opportunities in the local commercial and residential markets, evidenced by the $36 billion transacted last year, significantly up from $22.7 billion the year before, comments Loo.

Corporate leasing demand doubled from the long-term five-year average of 0.8 million sq ft to 1.6 million sq ft, and was driven by the new technology, media, and telco sector, he adds. Insurance and professional services with rents in ‘AAA’ grade office buildings have risen by 4.5%, and he expects rental growth to more than double to 10% for 2018. He expects continued demand and growth in values for commercial offices.

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