Asia PR News

SINGAPORE, Sept. 29 /Xinhua-PRNewswire/ –

Commercial Real Estate Professionals From the World’s Best Known Companies
Will Meet to Share Lessons in Corporate Real Estate (CRE)

Over 300 senior executives representing the corporate real estate industry
will meet in Singapore next year to examine the top issues facing the industry
at the 5th annual CoreNet Global Asia Summit scheduled to take place at The
Ritz-Carlton Millenia on 27 - 29 March, 2007.

Produced by CoreNet Global, the world’s leading professional association
for corporate real estate practitioners, the event will bring together experts
from some of the world’s best known international companies including CB
Richard Ellis, Chevron, Colliers International, General Electric, JP Morgan
Chase, Microsoft and Siemens.

"The summit will convene the most notable leaders in the corporate real
estate profession to address pressing trends and issues currently facing our
industry," commented Mr. Nigel Harris, Chair of the Singapore Chapter for
CoreNet Global.

"Themed ‘People, Planet, Profit: Corporate Real Estate & Sustainability for
the 21st Century,’ the forum will feature networking events and educational
sessions designed to provide a perspective on the industry’s past 10 years, and
a look forward to the strategies needed for success in the future," continued
Mr. Harris.

"To do so, we will examine current trends and daily challenges faced by
many corporate real estate practitioners, whilst providing attendees with an
opportunity to discuss shared business issues and to find common solutions
through the exchange of best practices with peers."

Mr. Harris expressed that CoreNet Global’s first summit in Singapore for
five years comes at a critical time given that current business sentiment in
the local market is strong, driven by escalating demand for office space.

According to Mr. Chris Archibold, Regional Director for Jones Lang LaSalle,
expansion of existing financial institutions and new set-ups in Singapore is
driving demand. This is in tandem with the recovery of regional and domestic
economies, and the successful promotion of Singapore as an Asia-Pacific
business and financial hub.

In terms of rentals, Mr. Archibold notes strong growth was recorded across
Singapore’s major markets with average rents of Prime A office buildings
increasing 11.3% quarter-on-quarter to reach S$6.90 per square feet per month
at the end of Q2, 2006.

Prime Grade B office rentals also climbed 7.1% to S$5.30 per square feet
per month and Mr. Archibold forecasts that that the rise in rents trend will
continue over the short to medium term given the shortage of large office space
in the market.

He comments, "In total, we have witnessed both submarkets increase more
than 30% over the past year, recovering by around 48% from their troughs two
years ago."

In addition, Mr. Archibold points out that the two impending Integrated
Resort developments at Marina Bay and Sentosa will positively impact
Singapore’s real estate, increasing both business and employment opportunities.

This is a viewpoint shared by the Singapore Tourism Board who estimates
that the two integrated resort developments will create 35,000 new jobs by
2015, generating improved business activity and increasing Singapore’s
attractiveness to foreign investors.

"As you can see, Singapore represents a tremendous growth opportunity for
the entire real estate industry. By staging the CoreNet Global Asia Summit in
Singapore, we therefore hope to educate real estate executives on emerging
markets and business models that will help grow their businesses locally and
globally," Mr. Harris concluded.

Interested parties can register for the summit by contacting Ms. Eleanor
Estacio on (1) 404 589 3217 / eestacio@corenetglobal.org , or Ms. Jennifer Gao
on (8621) 6122 1251 / jgao@corenetglobal.org . Alternatively, please visit
www.corenetglobal.org/singapore for details.

About CoreNet Global
CoreNet Global is the world’s premier association for corporate real estate
and related professionals. Headquartered in Atlanta, USA, the global learning
organization is the industry thought and opinion leader, plus the only
professional real estate group that convenes the entire industry.

Today, CoreNet Global’s members manage US $1.2 trillion in worldwide
corporate assets totaling 700 billion square feet of owned and leased office,
industrial and other space. With 7,000 members representing large
organizations around the world, CoreNet Global operates in five global regions:
Asia/Japan, Australia, Europe, Latin American and North America.

For more information, please visit the CoreNet Global website at
www.corenetglobal.org.

Contact Details

Issued by RFP on behalf of CoreNet Global. For more information, please
contact:

RFP
Janet Middlemiss
Tel: +852-2857-3832 / +852-9195-7829
Fax: +852-2840-1284
Email: jm@rfpmagazine.com

CoreNet GlobalJennifer Gao
Tel: +86-21-6122-1251
Fax: +86-21-6122-1481
Email: jgao@corenetglobal.org

SOURCE CoreNet Global