Top Global establishes property business

Catalist-listed Top Global is establishing a real estate investment and development business in Singapore, Malaysia, Indonesia and China, as well as lease or acquire hotels in Chinese cites, said Hano Maeloa, CEO of the company.

Top Global recently set up a real estate consultancy firm in Singapore with two partners, which it hopes to franchise in Indonesia. It established Global Property Strategic Alliance Pte Ltd in late 2010 with Jeffrey Hong and Dennis Yong, who each holds a 15 percent stake in the new real estate consultancy group.

Top Global holds the remaining 70 percent. The existing suite of services of GPS Alliance includes real estate brokerage, commercial properties, corporate leasing and investment sales.

The company plans to start the brokerage of HDB resale flats and marketing of overseas properties in March.

The setting up of the property consultancy business will help Top Global source for deals such as development sites in Singapore, as well as give the parent company first-hand knowledge of the recent trends in the property market, said Mr. Maeloa.

He added that they “plan to franchise the GPS name to Indonesia and when we have a presence there, we can do a lot of cross border selling. For example, we can market Singapore properties in Indonesia, or sell Indonesian properties here, or Australian properties in Indonesia.”

Source : PropertyGuru – 8 Feb 2011

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