Solitaire On Cecil Developers TE Capital Partners and LaSalle
At the Heart of Singapore Central Business District
TE Capital Partners
TE Capital Partners is a real estate investment and fund management firm that focuses on APAC real estate markets. The company was established by the third-generation family members of the Singapore-based developer, Tong Eng Group. TE Capital Partners has development management capabilities and as of June 2022, it has an AUM of approximately S$3 Billion across Singapore, Australia, Japan, and the United States. The company's Principals have developed more than S$3 Billion of commercial office, residential, and mixed development projects in Singapore in recent years. TE Capital Partners manages various commercial projects, including 350 Queen Street and 312 St Kilda Road in Melbourne, Australia.
Tong Eng Group is a real estate development company that has been in the industry for more than 70 years in Singapore. The company has owned and developed more than 200 acres of land that comprises mixed-use, office, retail, strata landed community, and apartments. The company has established itself as a leading property developer in Singapore, having delivered high-quality projects such as Tong Eng Building on Cecil Street, Centrium Square, and ARC 380, and residential developments such as Goodwood Grand and the Belgravia Landed Series - Belgravia Ace, Belgravia Green, Belgravia Villas.
LaSalle Investment Management is a leading global real estate investment manager with over 40 years of experience. The company operates in 23 offices across 15 countries worldwide and is an independent subsidiary of Jones Lang LaSalle. LaSalle manages approximately US$82 billion of assets in private equity, debt, and public real estate investments and sponsors a complete range of investment vehicles. The company serves a diverse client base comprising public and private pension funds, insurance companies, governments, corporations, endowments, and private high net worth individuals globally. LaSalle has a proven track record in developing and managing prime real estate in Singapore and other key gateway cities worldwide, including Twenty Anson and the award-winning Crowne Plaza Changi Airport hotel in Singapore, One Exchange Square in London, LIFE - Jeanne d'arc in Paris, Maison Manuvie in Montreal, Timber Office in Munich, and 123 North Wacker Drive in Chicago.
Role of Developer
Developers play a crucial role in the commercial property industry as they are responsible for creating new commercial buildings or redeveloping existing ones. They oversee the entire development process, from site acquisition and planning to design and construction.
Developers are typically responsible for:
Site Acquisition: Developers identify potential sites for commercial property development and assess their suitability based on factors such as location, access to transport and amenities, and zoning regulations.
Planning: Once a site has been acquired, developers work with architects, engineers, and other consultants to create a development plan that meets zoning regulations, building codes, and market demands.
Design: Developers oversee the design process, ensuring that the building's layout, functionality, and aesthetic meet the needs of potential tenants and the broader market.
Construction: Developers manage the construction process, working with contractors and subcontractors to ensure that the building is constructed to a high standard and within budget and timeline constraints.
Leasing: After construction is complete, developers are typically responsible for leasing the commercial space to tenants. This involves marketing the property, negotiating leases, and managing tenant relations.
Overall, developers play a critical role in the commercial property industry, as they are responsible for creating new buildings that meet the needs of tenants and contribute to the overall growth and development of the real estate market.
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