{"id":334533,"date":"2022-10-25T20:13:04","date_gmt":"2022-10-25T12:13:04","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=334533"},"modified":"2023-01-26T11:18:04","modified_gmt":"2023-01-26T03:18:04","slug":"ivanhoe-phoenix-sdax-jll-talk-singapore-oz-links","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/ivanhoe-phoenix-sdax-jll-talk-singapore-oz-links\/","title":{"rendered":"Ivanhoe, Phoenix, SDAX and JLL Talk the Ties That Bind Singapore and Australia"},"content":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\"><a href=\"https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8d\" id=\"762882460\" class=\"lazy-load-vimeo preview-lazyload preview-vimeo\" data-video-thumbnail=\"https:\/\/i.vimeocdn.com\/video\/1533825601-a3458bc34d6c5c503951dfb50777a020924688a445d8dff2b1be3856c8835669-d_295x166\" data-video-title=\"The Singapore-Australia Connection-MTD TV\" title=\"Play video &quot;The Singapore-Australia Connection-MTD TV&quot;\">https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8d<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8d\" title=\"The Singapore-Australia Connection-MTD TV\">The Singapore-Australia Connection-MTD TV (https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8d)<\/a><\/noscript><\/div>\n<p>&nbsp;<br \/>\nSingapore investors are playing a growing role in Australia\u2019s real estate market, with surging borrowing costs opening up opportunities in the credit space as non-bank lenders step in to help finance distressed-asset and value-add plays, according to panellists at Mingtiandi\u2019s Singapore Forum last week.<\/p>\n<p>Trent Winduss, head of Asia structured debt investments at Hong Kong-based Phoenix Property Investors, told the audience at the ParkRoyal Collection Marina Bay that Australia\u2019s key banks tend to support core assets and, in rare instances, the repositioning of \u201cunicorn\u201d properties.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/ad.doubleclick.net\/ddm\/trackclk\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;ltd=;dc_tdv=1\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Copy of APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real Estate\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><script language='JavaScript1.1' src=\"https:\/\/ad.doubleclick.net\/ddm\/trackimpj\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;ord=+ Date.now();dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?\" attributionsrc ><\/script><\/p>\n<p>As a result, nearly all borrowers for opportunistic and value-add investments are being pushed into the non-bank space, said Winduss, who oversees debt investments made by Phoenix across China, Southeast Asia and Australia. Feasible projects can still borrow from non-banks in the current climate, he said, while less-workable projects are being shelved.<\/p>\n<p>\u201cSome of the biggest Singapore investors are also some of the biggest investors in the credit space in Australia and have been over the last couple of years,\u201d Winduss said.<\/p>\n<h3>Broken Formula<\/h3>\n<p>Fergal Harris, head of capital markets for Australia at JLL, agreed that the shifting cost structure in the debt market could lead to a deeper non-bank lending market.<\/p>\n<p>\u201cThe rise in rates not only gives private debt funding more attractive returns, it also breaks the formula that has governed the four-bank pillar in real estate,\u201d Harris said, referring to Aussie lenders ANZ, NAB, CommBank and Westpac.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/ivanhoe-phoenix-sdax-jll-talk-singapore-oz-links\\\/\"}' id='gallery-1' class='gallery galleryid-334533 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07087-jpg-fergal-harris\/'><img decoding=\"async\" data-attachment-id=\"334543\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522.jpg\" data-orig-size=\"1500,1166\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07087.JPG &#8211; Fergal Harris\" data-image-description=\"&lt;p&gt;Fergal Harris, JLL&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-400x311.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-1024x796.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Fergal Harris, JLL\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07087.JPG-Fergal-Harris-e1666749952522-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07405-jpg-australia-panel\/'><img decoding=\"async\" data-attachment-id=\"334537\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel.jpg\" data-orig-size=\"1500,509\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;4.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666082016&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;30&quot;,&quot;iso&quot;:&quot;2000&quot;,&quot;shutter_speed&quot;:&quot;0.005&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07405.JPG &#8211; Australia panel\" data-image-description=\"&lt;p&gt;The Singapore-Australia Connection Panel: Nick Wilson, Oxford Economics; Laurent Fischler, Ivanho\u00e9 Cambridge; Ivanho\u00e9 Cambridge, Phoenix Property Investors; Sharon Sng, SDAX; Fergal Harris, JLL&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-400x136.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-1024x347.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Panel: The Singapore-Australia Connection\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07405.JPG-Australia-panel-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07372-jpg-trent-winduss\/'><img decoding=\"async\" data-attachment-id=\"334538\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss.jpg\" data-orig-size=\"1500,1854\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;4.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666081870&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;129&quot;,&quot;iso&quot;:&quot;2000&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07372.JPG &#8211; Trent Winduss\" data-image-description=\"&lt;p&gt;Trent Winduss, Phoenix Property Investors&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-324x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-828x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Trent Winduss, Phoenix Property Investors\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07372.JPG-Trent-Winduss-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07219-jpg-laurent-fischler\/'><img decoding=\"async\" data-attachment-id=\"334539\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler.jpg\" data-orig-size=\"1480,1920\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666080324&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07219.JPG &#8211; Laurent Fischler\" data-image-description=\"&lt;p&gt;Laurent Fischler, Ivanho\u00e9 Cambridge&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-308x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-789x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Laurent Fischler, Ivanho\u00e9 Cambridge\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07219.JPG-Laurent-Fischler-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07179-jpg-sharon-sng\/'><img decoding=\"async\" data-attachment-id=\"334540\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng.jpg\" data-orig-size=\"1263,1920\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666080139&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;172&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07179.JPG &#8211; Sharon Sng\" data-image-description=\"&lt;p&gt;Sharon Sng, SDAX&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-263x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-674x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Sharon Sng, SDAX\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07179.JPG-Sharon-Sng-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07174-jpg-nick-wilson\/'><img decoding=\"async\" data-attachment-id=\"334541\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson.jpg\" data-orig-size=\"1500,821\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666080101&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;70&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07174.JPG &#8211; Nick Wilson\" data-image-description=\"&lt;p&gt;The Singapore-Australia Connection Panel: Nick Wilson, Oxford Economics; Laurent Fischler, Ivanho\u00e9 Cambridge; Trent Winduss, Phoenix Property Investors &lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-400x219.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-1024x560.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Panel: The Singapore-Australia Connection\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07174.JPG-Nick-Wilson-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07161-jpg-nick-wilson\/'><img decoding=\"async\" data-attachment-id=\"334542\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson.jpg\" data-orig-size=\"1500,1856\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666080081&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07161.JPG &#8211; Nick Wilson\" data-image-description=\"&lt;p&gt;Nick Wilson, Oxford Economics&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-323x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-828x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Nick Wilson, Oxford Economics\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07161.JPG-Nick-Wilson-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07075-jpg-laurent-fischler\/'><img decoding=\"async\" data-attachment-id=\"334544\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler.jpg\" data-orig-size=\"1500,1853\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666079815&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07075.JPG &#8211; Laurent Fischler\" data-image-description=\"&lt;p&gt;Laurent Fischler, Ivanho\u00e9 Cambridge&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-324x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-829x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Laurent Fischler, Ivanho\u00e9 Cambridge\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07075.JPG-Laurent-Fischler-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07070-jpg-fergal-harris\/'><img decoding=\"async\" data-attachment-id=\"334545\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris.jpg\" data-orig-size=\"1500,1351\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666079810&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07070.JPG &#8211; Fergal Harris\" data-image-description=\"&lt;p&gt;Fergal Harris, JLL&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-400x360.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-1024x922.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Fergal Harris, JLL\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07070.JPG-Fergal-Harris-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07066-jpg-sharon-sng\/'><img decoding=\"async\" data-attachment-id=\"334546\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng.jpg\" data-orig-size=\"1097,1920\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666079806&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07066.JPG &#8211; Sharon Sng\" data-image-description=\"&lt;p&gt;Sharon Sng, SDAX&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-229x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-585x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Sharon Sng, SDAX\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07066.JPG-Sharon-Sng-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/dsc07047-jpg-trent-winduss\/'><img decoding=\"async\" data-attachment-id=\"334547\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179.jpg\" data-orig-size=\"780,668\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666079738&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;138&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC07047.JPG &#8211; Trent Winduss\" data-image-description=\"&lt;p&gt;Trent Winduss, Phoenix Property Investors&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179-400x343.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-1024x877.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Trent Winduss, Phoenix Property Investors\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC07047.JPG-Trent-Winduss-e1686833368179-260x260.jpg 260w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl>\n\t\t\t<br style='clear: both' \/>\n\t\t<\/div>\n\n<p>He predicted that interest coverage ratios would remain under pressure through the first half of 2023, leaving highly regulated banks to struggle with flexibility.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>\u201cSo that model is broken,\u201d Harris said. \u201cAnd that model is not going to get fixed by Citibank or by Standard Chartered Bank or UOB coming into town and picking up, where in previous cycles we saw local banks replaced by ambitious and flexible international banks. That part of the market is now going to have to be filled by private credit.\u201d<\/p>\n<p>The JLL exec said at least $2 billion in capital was raised in the last six months for the credit markets, \u201cso that\u2019s not going away, that\u2019s now a trend, and it\u2019s going to be really interesting to see the competition for credit in the unregulated space\u201d.<\/p>\n<h3>Moderating Risk<\/h3>\n<p>Sharon Sng, head of sales, at digital assets exchange SDAX, said Singapore-based real estate investors looking to spread their risk have eagerly headed Down Under.<\/p>\n<p>\u201cIn the Australian market, Singapore has been a key driver and supporter as an alternative lender into that market,\u201d Sng said. \u201cBecause the Singapore capital has been very comfortable in that space in terms of property development specifically.\u201d<\/p>\n<p style=\"text-align: center;\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"mingt-415662285\"><a data-no-instant=\"1\" href=\"https:\/\/www.yardi.asia\/Resource\/?resource=Data+Centres+Fuelling+the+AI+Future+%28White+Paper%29&#038;utm_source=mingtiandi&#038;utm_medium=website&#038;utm_campaign=wp23dcai\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Yardi - Data Centre v4_250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/08\/Yardi-Data-Centre-v4_250.gif\" alt=\"Yardi - Data Centre v4_250\"  width=\"780\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/p>\n<p>Laurent Fischler, head of APAC investment at Ivanhoe Cambridge, noted that the Canadian fund manager has invested alongside partners in Australian projects in the build-to-rent segment for the past several years. And while vacancies are low and rents are rising in the competitive space, the underlying conditions haven\u2019t made it easy to source new opportunities.<\/p>\n<p>\u201cThe cost of debt is going up, construction costs have exploded over the past 18 months, and yet the people selling land don\u2019t seem to have got the memo and they\u2019re not really adjusting their expectations,\u201d Fischler said. \u201cSo there\u2019s a bit of a mismatch and it\u2019s been pretty hard to deploy, if I\u2019m entirely honest. One of our frustrations is we would like to deploy more in that sector, but it\u2019s hard to get good deals to meet your return targets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\">https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8dVideo can&#8217;t be loaded because JavaScript is disabled: The Singapore-Australia Connection-MTD TV (https:\/\/player.vimeo.com\/video\/762882460?h=9bb7a93a8d)<\/div>\n<p>&nbsp; Singapore investors are playing a growing role in Australia\u2019s real estate market, with surging borrowing costs opening up opportunities in the credit space&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/ivanhoe-phoenix-sdax-jll-talk-singapore-oz-links\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":9671,"featured_media":334543,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[1066,5382,505,1671,8380,8400,5570,8985,282,9009],"ppma_author":[8847],"authors":[{"term_id":8847,"user_id":9671,"is_guest":0,"slug":"christopher-caillavet","display_name":"Christopher Caillavet","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/500c291c35a85a2ad5827cf7c6d198e1?s=96&d=mm&r=g","user_url":"","last_name":"Caillavet","first_name":"Christopher","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/334533"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/9671"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=334533"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/334533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/334543"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=334533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=334533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=334533"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=334533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}