Michael Tay Appointed Cbre Deputy Managing Director Singapore Advisory
A market expert has revealed that the future development at Clementi Avenue 1 will greatly benefit from the projected full occupancy of a neighboring project. This piece of news suggests that developers are taking advantage of the current favorable market conditions, which could also explain the intense competition in bidding for the project. As the market heats up, developers are aiming to secure a prime position, with the recently launched Elta Showflat being a hot commodity.
CBRE, a global real estate services firm, has announced that Michael Tay will be the new deputy managing director of Singapore Advisory, effective from January 1, 2025.
Tay, who currently serves as the head of capital markets in Singapore, will continue to report to Moray Armstrong, managing director of Singapore Advisory at CBRE.
The role of deputy managing director will see Tay providing long-term leadership and strategic planning for the Singapore advisory business. He will work closely with Armstrong to develop and execute investment strategies, including mergers and acquisitions, as well as driving business growth.
Armstrong praised Tay’s extensive experience in the commercial real estate industry, stating that he is considered one of the leading real estate professionals and thought leaders in the Singapore market. Tay has been with CBRE for over 30 years, starting as an office leasing agent and progressing into leadership roles in both office services and capital markets.
In 2019, Tay was appointed as the head of the Singapore capital markets team, which has since been involved in several significant investment deals in the country. These include the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial.
Expressing his gratitude for the opportunity, Tay stated, “I am grateful for the trust placed in me and the career growth opportunity that the company has offered me. It has been an amazing 25 years and counting journey with CBRE, where I have had the privilege of working and learning from some of the best real estate professionals in Singapore.”