Christie’s International Real Estate Singapore looks to capitalise on Singapore’s luxury real estate market
SINGAPORE, 22 August 2024 – Christie’s International Real Estate, a global leader in luxury real estate, has officially launched in Singapore, marking a significant milestone in its Southeast Asia expansion strategy.
Operating from a newly refurbished historic shophouse on China Street in Singapore’s Central Business District (CBD), Christie’s International Real Estate Singapore will specialise in residential brokerage services with a focus on Singapore’s well-established luxury real estate market. It will also assist Singapore-based capital, both individual and institutional, with investing in real estate opportunities around the world through the brand’s extensive global network. The firm is led by Singapore-based Harmeet Singh Bedi & Dipika Bedi, and Himmat & Rohini Singh, longtime owners of Christie’s International Real Estate’s affiliate in India.
The team brings a wealth of experience to this new venture. Himmat and Rohini Singh each have over 25 years of experience in luxury real estate, while Harmeet Singh Bedi has more than 30 years of banking and real estate investment management expertise, including a decade in C-suite roles, most recently as CEO of Singapore-based Prime US REIT Management Pte. Ltd. Dipika Bedi complements the team with over 20 years of experience in advertising, marketing, art sales, and event management.
The business partners will re-introduce Christie’s International Real Estate under new ownership and management to the Singapore market, where luxury real estate has experienced over a decade of continuous growth. Singapore’s high standard of living, stable political environment, robust economy, and favourable tax policies continue to attract a steady stream of buyers and investors, reinforcing the strong long-term growth fundamentals of the luxury real estate market. For instance, single-family homes, especially the highly coveted Good Class Bungalows (GCBs) which typically feature land sizes exceeding 15,000 square feet, are valued between S$35 million and S$65 million, which is reflective of Singapore’s reputation as one of the most prestigious real estate markets in the world.
Notable developments further solidify Singapore’s position as a prime destination for luxury real estate. The exclusive 32 Gilstead in District 11, which has seen units sell for S$14 million each, and the recent en bloc sale of Kew Lodge on Kheam Hock Road for S$66.8 million, further emphasise the escalating value of prime land in this highly desirable district.
Additionally, the redevelopment of 19 Nassim by Keppel Land in the prestigious Nassim neighbourhood underscores the sustained demand for luxury properties in Singapore’s most sought-after areas. Upcoming launches in Marina Bay and River Valley highlight the ongoing vibrancy and allure of Singapore’s high-end real estate market, reinforcing its status as a premier destination for luxury investments.
“Singapore is a tight-knit, highly capitalised, and brand-conscious luxury real estate market, with buyers and sellers who expect the highest level of service—exactly what Christie’s International Real Estate provides," said Harmeet Singh Bedi, Managing Director, Christie’s International Real Estate Singapore. “We are confident that discerning clientele from Singapore and the region will appreciate the brand’s tailored service and international network."
“The current dynamism and potential in Singapore’s luxury residential real estate market, combined with the increasing need for global investment opportunities from both individual and institutional capital based in Singapore, makes this the perfect time to reintroduce the Christie’s International Real Estate brand here," adds Himmat Singh, joint Managing Director, Christie’s International Real Estate Singapore. “Rohini and I are excited to expand our long-standing partnership with Christie’s International Real Estate. With the brand’s world-class marketing, unmatched international network, and commitment to premier service, we’re bringing the most recognised and trusted name in luxury real estate to one of the most sophisticated real estate markets in the world"
Christie’s International Real Estate Singapore will offer national and international exposure for listings through the Christie’s International Real Estate network, which has brokerages in nearly 50 countries and territories. Clients will also gain access to exclusive marketing partnerships and a relationship with the iconic Christie’s auction house for the sale of fine art and luxury goods, including wine and watches. Christie’s International Real Estate maintains a close relationship with Christie’s auction house, enabling clients on both sides to leverage the unique synergies between the worlds of high-end real estate, art, and luxury items.
“As we expand our presence in Southeast Asia, we see great potential for the Christie’s International Real Estate brand in Singapore, especially with Harmeet and Himmat at the helm", said Helena Moyas de Forton, Managing Director, Head of EMEA and APAC at Christie’s International Real Estate. “Their extensive industry experience, unrivalled knowledge of Singapore’s real estate market, and commitment to bespoke, first-class service will make Christie’s International Real Estate Singapore the firm of choice for Singapore’s luxury real estate clientele."
Christie’s International Real Estate has affiliates throughout Asia, including in Dubai, India, Taiwan, Vietnam, and Japan.
