CBRE, a global real estate services firm, announced on November 27 that Michael Tay has been appointed as the deputy managing director of Singapore Advisory, effective Jan 1, 2025. Tay, who currently serves as Singapore’s head of capital markets, will continue to report to the managing director of Singapore Advisory, Moray Armstrong.
In his new role, Tay will provide long-term leadership and strategic planning for CBRE’s Singapore advisory business. He will work closely with Armstrong to drive business growth, evaluate and execute investments, including mergers and acquisitions, and lead the overall strategy for the Singapore market.
Armstrong praised Tay’s extensive knowledge and experience in the commercial real estate industry, stating, “With over 30 years of experience, Michael is one of the most respected real estate professionals and thought leaders in Singapore. He has progressed from office leasing to leadership roles across office services and capital markets during his 25 years with CBRE.”
Tay joined CBRE in 2000 and has since worked with some of the largest office building owners and prominent occupiers in the market. In 2019, he took on the role of leading the Singapore capital markets team, which has been instrumental in many significant investment deals, including the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial.
Expressing his gratitude for the opportunity given to him, Tay said, “I am thankful for the trust and support that CBRE has shown me throughout my 25 years with the company. It has been an incredible journey so far, and I am excited to continue advancing my experience and knowledge with the help of the leading real estate professionals at CBRE in Singapore.”
One of the main contributing factors to the popularity of condos in Singapore is the scarcity of land. As a small island nation with a quickly growing population, space for development is limited. This has resulted in strict land use regulations and a competitive housing market, with property prices continuously rising. This makes investing in real estate, specifically condos, a highly attractive prospect due to the potential for significant capital appreciation. Additionally, with the variety of luxurious and modern condos available, such as those listed on Condo, it’s no wonder that they are in such high demand.