Keppel’s Choo Says Housing and Commercial Space Demand Seen High

Keppel Corp.’s Chief Executive Officer Choo Chiau Beng expects demand for residential and office demand will remain high in Singapore. He spoke in a Bloomberg Television interview on Dec. 17.

On housing demand:

“One of the reasons why Singapore property prices have gone up is that we have limited land and you have a population that went up by 1 million in the last 10 years. What do you expect?

“I would say that landed prices will likely remain strong.

“As long as Singapore attracts good quality businesses in Singapore, there will be demand.”

On office space:

“In Singapore, there’s still need for office space. The office space still has reasonable value of about S$10 per square foot a month. In the last boom, it went as high as S$18. So we haven’t reached that level yet.

“It will remain at this level for some time because many of these companies have hired with long business plan.”

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