EFFECTIVENESS OF INSTITUTIONAL PROPERTY MANAGEMENT IN SINGAPORE

Abstract

In Singapore, property management is widely practiced and understood for properties such as condominiums, shopping centres, hotels, public housing and mixed development. However, there is less emphasis on institutional property management for special facilties such as military buildings/facilities. With the growing focus of new economy and staff hire freeze, there is a need to consider for the outsourcing approach rather than conventional in-house resources. Therefore, in the transition from in-house to managing agent services, the effectiveness of the institutional property management may be affected. It is necessary to examine the managing agents performance and the occupant's perceptions. The survey results found that all parties complement each other in their roles institutional property management. The managing agent needs more time to familiarise themselves with the various aspects of institutional property management, as well as to facilitate cooperation from owner's term contractors (TC).