Toa Payoh turning into hub for estate agencies

Housing agent Mike Poon is looking forward to working in Toa Payoh, on new premises just a stone’s throw from the HDB Hub.

His employer, OrangeTee, joins a host of other property agencies irresistibly drawn there.

After all, location, location, location is the industry’s mantra and the public housing market caters to almost 80 per cent of Singaporeans.

Being near the HDB Hub, in Lorong 6, Toa Payoh, is thus a plus. The HDB moved to its current premises from Bukit Merah in 2002.

Among the big players, ERA and HSR have buildings in Toa Payoh. DTZ, C&H Properties, Global Real Estate and PropNex have units within the HDB Hub, where a major bus interchange and train station are also located.

Another agency, DWG, has its offices along Lorong 6, Toa Payoh as well – at Toa Payoh Shopping Centre.

For now, Mr Poon works out of OrangeTee’s premises in Lock Road, in the Alexandra area.

The company’s new 16-storey building in Lorong 6, leased from the HDB, is nearing completion. When it is ready, 2,500 agents and 60 support staff will move in.

‘Being closer to the Hub will allow me to be closer to my clients and this will allow me to give them more personal service,’ said Mr Poon.

Mr Alan Tock, managing director of OrangeTee, echoed Mr Poon’s point about Toa Payoh’s central location.

Serving private property clients is also a cinch as the area is a short drive to Changi Airport where clients from countries such as China, Indonesia and Malaysia have to be picked up, he added.

With the availability of banks and law firms within the HDB Hub itself, Toa Payoh is becoming a one-stop for home buyers.

Indeed, these factors are crucial to success, said PropNex, which has been based in the HDB Hub since 2004.

Its corporate communication manager, Mr Adam Tan, said that being in Toa Payoh has been a contributing factor to its growth. PropNex has about 6,000 agents.

‘Location is key in the property market,’ he said.

‘People remember you better when you say that your office is in the HDB Hub itself,’ he added, referring especially to buyers of HDB units.

Another company, HSR, moved into the former Pei Chun Primary school premises in Lorong 6, Toa Payoh in November 2008.

It had been based in Toa Payoh Central but decided to move because it needed a bigger place to house its 7,000 staff, said CEO Patrick Liew.

The new premises are still near enough to the HDB Hub, so he does not feel that not being actually there puts him at a disadvantage.

He added: ‘The new premises provide more services for my staff too, such as a spa and a childcare centre.’

Source: Sunday Times, 10 Jan 2010