LENDERS AND INVESTORS PERCEPTION OF CMBS IN SINGAPORE

Abstract

While asset-backed securitization has been an accepted financing option for commercial real estate in Singapore, the conspicuous absence of such a deal based on commercial mortgage-backed securities (CMBS) structure here is telling. The study in this dissertation surveyed potential commercial mortgage securitizers and institutional investors on possible benefits of CMBS which could motivate their active participation in this new instrument. It also attempt to identify possible impediments to development of CMBS in Singapore from the respondents perspective. Ultimately, the knowledge gathered here would hope to prepare a better understanding and appreciation of possible upcoming of CMBS here in the future. However, failure to get response for the survey designed voids the objectives of study. Nonetheless, it is hoped that enough exposure has been given to turn heads towards this missing instrument in Singapore when we are in fact aiming to be a leading global financial centre.