Hays Property - July 2010
Hotspots
Developers are still very keen to invest in overseas markets, especially in countries like China and India where there is steady growth and demand for commercial and residential space. There is also a lot of investment in Vietnam and Cambodia, predominantly in the hospitality and commercial space. This is expected to result in huge demand for Development and Project Managers.
Many developers tendered for a section of Government land that has been zoned a residential area. This is a sure sign they are still interested in developing high-end residential apartments in Singapore.
Many of the ongoing projects only involve move management. Project Managers as well as Facilities Managers are needed to assist large multinational companies move from their existing buildings to brand new buildings. Competition for these contracts is very competitive so the consultancies being awarded these projects are focused on pricing.
Candidates in high demand for these roles are those with more than six years experience in a Project Management or Facilities Management role in Singapore, ideally delivering commercial interior or data centre projects for a large corporate, banking or IT space.
Coming quarter
In line with improving economic conditions the property sector in Singapore has seen a slight pickup and this is likely to continue in the coming quarter.
The most active areas will be in project management, facilities management and sustainable energy management.
Employer trends
Employers remain cautious and very selective when it comes to hiring resources.
If a valued employee tenders their resignation, more and more employers are willing to, and do, counter offer either matching the offer or raising it by a small margin.
Candidate trends
Candidates have sensed the movement and positivity in the market and are willing to explore opportunities. There is a lot of interest from overseas candidates, in particular those from the Middle East, UK and Australia.
