Real estate

Real estate has been a key driver of both local and global economy for over decades. For many organisations, real estate and physical infrastructure are major components of operational costs and typically involve significant investments which dominate the balance sheet.


Our real estate practice

PwC Singapore real estate industry practice listens to different points of view to help organisations solve their business issues as well as identify and maximise the opportunities they seek. Our team comprises of experienced professionals with comprehensive understanding of industry specific regulations and issues distinctive to both local and global environments.

At the heart of our mission is to assist our clients in identifying, assessing and managing a spectrum of business issues; working with them to develop solutions that address the challenges they face, ultimately, delivering value to their businesses.

Our strategy is aligned across these key functions that are crucial to all businesses.
 

Maximising profit

Tax optimisation

  • Tax structuring advisory
  • Tax compliance
  • Transfer pricing

Operational efficiency & people sustainability

  • Change management
  • Performance improvement
  • Project management
  • Data information systems
  • Outsourcing alternatives
  • Compensation benefits

Minimising risks

Regulatory compliance

  • Accounting advisory
  • Assurance services
  • Controls & governance
  • Stakeholders management

Ownership governance & crisis management

  • Risk management for real estate companies/ funds
  • Board structure & effectiveness
  • Dispute analysis & investigations
  • Litigation support

Optimising growth

Mergers and acquisitions & business planning

  • Financial & operational due diligence
  • Business structuring
  • Financial modelling
  • Deal advisory & valuation
  • Strategy

Financing growth & portfolio restructuring

  • Capital raising assessment & sourcing
  • Capital markets & REITs advisory
  • Initial public offering
  • Real estate portfolio analysis and structuring
  • Structuring of SPVs


How we can help

Our services

Finance

  • Assurance services
  • Financial accouting & reporting
  • Accounting advisory
  • Initial public offerings
  • Finance function effectiveness
  • Global investment performance standard (GIPS)

Governance, risks and compliance

  • Regulatory compliance
  • Governance & board communications
  • Risk management
  • Internal audit
  • Internal controls
  • Forensics & investigation
  • Property manager operational review

Technology

  • Reporting & forecasting
  • System selection assistance
  • System implementation assurance
  • Information technology effectiveness
  • IT security
  • Data privacy & management
  • IT asset management
  • Business continuity planning

Operations and transactions

  • Valuation
  • Transaction due diligence
  • Corporate finance
  • Loan origination & securitisation services
  • Transaction support & structuring
  • Procurement function assessment & development
  • Data analytics
  • Restructuring & insolvency services
  • Asset monitory & asset management
  • Litigation & arbitration
  • Hospitality & leisure services
  • Financing growth
  • Portfolio restructuring
  • Financial modelling
  • Board structure & effectiveness
  • Structuring of Special Purpose Vehicles (SPV)
  • Change management
  • Performance improvement
  • Compensation & benefits
  • Sustainability
  • Crisis management

Tax

  • Investment tax structuring
  • Post-acquisition tax planning & restructuring planning opportunities
  • Pre-IPO & warehousing stage tax planning
  • Asset vs share deal analysis
  • Tax due diligence
  • Interest deduction advice & optimisation
  • Tax ruling applications
  • Fund & REIT structuring
  • Tax incentive planning & application
  • Stamp duty advice, including relief analysis & application
  • Withholding tax planning, including treaty benefit analysis & application
  • Transfer pricing
  • Tax function effectiveness
  • Carried interest taxation
  • Capital allowance maximisation study
  • Exit tax planning, including documentation development
  • Tax compliance
  • Tax solutions

Start to end support

With strong network connectivity, we form teams across our lines of services and network to help our clients create value through mergers, acquisitions, disposals and restructuring.

In M&A, we support our clients through a deal process as follow:

1. Identify - Where are the opportunities in today’s market?

  • Growth strategy
  • Lead advisory
  • Market study
  • Market entry strategy
  • Investment partnering strategy
  • Tax efficient investment structure

2. Evaluate - Is this a good investment opportunity?

  • Pros cons analysis of asset vs share deal
  • Financial tax due diligence
  • Commercial market due diligence
  • Human resources due diligence
  • Synergies validation

3. Execute - What is the most efficient way to close the deal?

  • Deal structuring
  • Valuation advice
  • Negotiation support
  • Completion assistance
  • Purchase price allocation
  • GAAP conversion reconciliation
  • Review documents for tax efficiencies

4. Stabilise - How do I achieve stability early post-deal wins?

  • Add-on deal identification
  • Integration planning project management
  • Corporate governance internal controls alignment
  • Restructuring turnaround strategy
  • Post-acquisition tax planning
  • Exit tax planning

5. Maximise - How do I maximise downstream value through change?

  • Strategic repositioning
  • Back office coast reduction restructuring
  • Business process infrastructure improvement

6. Harvest - How do I harvest value from the deal?

  • Divestment advice
  • Refinancing advice
  • IPO advice capital raising
  • Review exit tax planning

As reporting auditor or advisors, we our with clients from the beginning to the end of the IP process order to maximise value out of the transaction.

We add value in an IPO process as follow:

1. Pre-IPO Process - “Assess” current landscape and facilitate listing process

  • Identify the suitable listing destination
  • Understand and evaluate the potential listing structures available
  • Understand financial reporting requirements for the various listing destinations or structures
  • Identify the acceptable accounting standards and restate historical financial statements
  • Strategic business planning to create a well-constructed, and attractive IPO story for the investors
  • Group restructuring and management reorganization
  • Review effectiveness of existing finance function, technology infrastructure, and management information and reporting systems
  • Review corporate governance and internal controls requirements
  • Identify tax leakages and the associated tax minimization strategies
  • Identify tax efficient corporate structure for warehousing phase

2. Listing Process - “Design and Construct” for listing readiness

  • Compliance with the listing criteria
  • Compliance with the financial information and prospectus disclosure requirements
  • Preparation of historical financial information
  • Preparation of financial forecast
  • Obtain ruling from tax authorities for certainty of tax treatment and tax exemption/relief
  • Appoint independent directors and board subcommittees

3. Post Listing - “Implement and sustain” listed status

  • Corporate strategy and development
  • Compliance with continuous listing requirements
  • Compliance with corporate governance code
  • Establish risk management and internal controls framework
  • Review management information and reporting systems to meet the requirement of the listed company
  • Set up investor relations functions
  • Set up effective tax functions and compliance process

Insights

Get in touch with our industry specialists

Assurance

Assurance Partner

email me

Assurance Partner

email me

Assurance Partner

email me

< Back

< Back
[+] Read More

Risk Assurance and Advisory

Risk Assurance Partner

email me

Advisory, Management Consulting Partner

email me

Advisory, Transaction Accounting & Valuation Partner

email me

< Back

< Back
[+] Read More

Capital Markets Transactions (REITS and IPO)

Capital Market Services Leader

email me

Capital Market Services Partner

email me

Capital Market Services Partner

email me

< Back

< Back
[+] Read More

Tax

< Back

< Back
[+] Read More

Contact us

Yeow Chee Keong
Real Estate and Hospitality Industry Practice Leader
Tel: +65 6236 7298
Email

Follow us