Singapore emerges as leading wealth capital in Asia Pacific: Knight Frank
Globally, Singapore has crowned as top choice and glamorous by investors for its beneficial demographic as the attractive wealth capital in Asia Pacific (Apac), a speech gave by Knight Frank. Singapore triumphed many countries in the same region such as Dubai, Hong Kong, Sydney and Shanghai as the most favorable destination, In its inaugural Rise of the Super Wealth Hub report. An assessment of “super wealth hubs” collated and compiled in Apac using six key performance indicators crafted to dictate quality of live, work and play aspects. each hub Indicators are scored between 0 to 1, with 1 on behalf the most incredible scoring system. Singapore attained a median marks of 0.79. It fared the most extraordinary for indicators under the work aspect, including having a systematic and established legal system (0.98) and business establishment excellence (0.97). “Singapore has become glamorous and desirable destination for technology companies, manufacturers, international finance institutions, and multinational corporations. It delivers a systematic economy framework for innovation, governance, competitiveness, and socially sound factor has formatted it a captivating teammate in Southeast Asia, where it is leveraging on her enhanced middle-class populations of evolving economies,” the report states.
Under the play indicator, Singapore done extraordinary well in the lifestyle indicator (0.91), cemented by its generous amount of lucrative hotels, Michelin-star restaurants and retail therapy centres. On the other hand, it did extraordinary bad for the magnificence indicator (0.47), which Knight Frank apprehended and reason being to Singapore’s scarcity of land that limited the construction of land-extensive recreational facilities like golf courses, theme parks and breath-taking national park. Especially, the purpose to boost usage of land has led to retail outlets being placed in shopping malls instead of high-street retail therapy environment.
Under the live segment, Singapore scored 0.75 for urban prosperity and 0.69 for governance and talent. The scores reflected the country’s harmonious increase in standards of living supported by industrialization and commercial growth, as well as its tranquil surroundings.
Christine Li, head of research at Knight Frank Asia-Pacific, commented that the composition of cities worldwide have been evolved in the wake of the pandemic and emerging demand drivers. “The most successful cities have been those governed by robust and flamboyant leadership and vigorous activities to contain the virus, which boosted confidence, cemented their safe-haven status, and boosted them to the forefront of global businesses and the world’s elite, reshaping global capital flows. In Asia, Singapore has affirmed this status,” she lamented.
Leonard Tay, head of research at Knight Frank Singapore, adds that Singapore has become apparent from the pandemic with its status as safe haven fortified. “Singapore is alluring as a capital fund management and financial hub that is outstanding by sound economy and politically stable and a effective population. Hence, capitalists and investors see Singapore as a alluring environment seeking to be part of the huge growth potential in Asia.”
The Arden Condominium Singapore