CORPORATE REAL ESTATE ASSET MANAGEMENT (CREAM)

Abstract

For most non-real estate companies, real estate is seen merely as a factor of production to support the core business activity. This was found to be the case for most corporations in the United States. Hence, the evolution of the concept of Corporate Real Estate Asset Management ( CREAM ) . The fundamental belief of the concept of CREAM is that real estate should be seen as an asset capable of enhancing the corporate returns through proper management. In Singapore, the concept of CREAM is relatively new. Most non-real estate companies have yet to realise the need for CREAM. However, this phenomena may change with increasing business competitiveness. Several local corporations have already begun to practise some form of CREAM albeit unconsciously. These progressive companies may set the trend for increasing awareness of CREAM among local non-real estate companies.