Knight Frank Singapore resets for growth, with focus on capital markets, occupier strategy and property management
Galven Tan, CEO of Knight Frank Singapore (centre), with Alan Wong, head of facilities management and Eleana Teo, head of strata management, Knight Frank Property & Facilities Management (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Knight Frank Singapore is entering a new phase following AF Global’s sale of its 55% stake to Knight Frank Asia Pacific. With that, Knight Frank Singapore is now fully owned by the regional arm, which is, in turn, a subsidiary of the London-based global real estate consultancy.
The shift has reset the growth ambitions of Galven Tan, CEO of Knight Frank Singapore, who is forging ahead with expansion plans across three business lines: capital markets, occupier strategy and solutions, and property and facilities management.
“While there are challenges in the market with geopolitical risks and various overhanging issues, we are brokers — so we always think positively,” says Tan.
He believes Singapore remains a key destination for private capital, noting that Knight Frank was involved in transactions worth about $600 million in 4Q2025 alone.
Knight Frank and CBRE were joint marketing agents in the sale of City Developments’ Quayside Isle to an entity owned by Patrick Kho for $97.3 million in December (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Capital markets at the core
Those deals included the purchase of Piccadilly Galleria for $65.46 million by Koufu Group three months ago, as well as the sale of Quayside Isle at Sentosa Cove for $97.3 million in December. The latter was reportedly acquired by an entity owned by Patrick Kho, former group managing director of Lian Huat Group. Both deals were jointly brokered by CBRE and Knight Frank.
In January, the firm was involved in the sale of a portfolio of four HDB shops by Lian Beng Group to a private investment vehicle owned by Andre Tanoto, son of Indonesian tycoon Sukanto Tanoto. The younger Tanoto also reportedly purchased i12 Katong mall from Keppel for $370 million last month.
Between December 2024 and December 2025, Knight Frank’s capital markets team is said to have brokered deals totalling about $1.3 billion. One of these deals was the sale of 21 Collyer Quay — the former HSBC Building — by CapitaLand Integrated Commercial Trust to the family office of Zhang Yong, co-founder and chairman of global hotpot chain Haidilao, at the end of 2024.
In December, Knight Frank also brokered the sale of a Good Class Bungalow at Dalvey Estate for $41.6 million ($2,674 psf).
“I do think there will be more activity in the market in terms of institutional capital movements,” says Tan. “Some developers are also becoming more active.”
In December, Knight Frank also brokered the sale of a Good Class Bungalow at Dalvey Estate for $41.6 million ($2,674 psf) [Photo: Albert Chua/The Edge Singapore]
Rebuilding the capital markets bench
Tan is now overseeing the capital markets team following senior departures in early and late 2025, including Daniel Ding, former head of capital markets (land and buildings, international real estate), and Chia Mein Mein, former head of capital markets (land and collective sale).
Over the past 12 months, Tan has strengthened the team by hiring Melvin Chay as senior director and Dayna Ang as senior manager. Chay was previously director of capital markets and investment services at Colliers Singapore, while Ang was with the capital markets and investment sales team at Savills Singapore. They join existing senior manager Tania Ong and executive director Mary Sai.
“In a sense, we are rebuilding the team,” says Tan. “Talent is an issue in our market. I’ve been very careful to hire people whom I believe will work well together and fit the existing team, so that we can strengthen our existing culture of collaboration to drive the business for sustainable growth in the right direction.” He believes there is room in the capital markets team for three to four more brokers.
Knight Frank also brokered the first residential collective sale deal last year with the sale of River Valley Apartments for $56 million in February 2025 (Photo: Knight Frank Singapore)
Collective sales, shophouses
Knight Frank also brokered the first residential collective sale of 2025 — River Valley Apartments — which was sold for $56 million to a Singapore family office in February last year.
Over the course of the year, the firm handled several shophouse transactions, including the sale of the conservation shophouse at 65 Club Street belonging to John Lim’s family office for $21 million last October. In November, the firm brokered the sale of Rehau Building, a freehold commercial property at King George’s Avenue, for $40 million.
Before taking on the CEO role at Knight Frank Singapore in February 2024, Tan handled investment sales at CBRE and Savills, where he brokered about $15 billion in transactions over 15 years.
The firm handled several shophouse transactions, including the sale of the conservation shophouse at 65 Club Street belonging to John Lim’s family office for $21 million last October (Photo: Albert Chua/The Edge Singapore)
Strengthening occupier strategy and services
In November, Knight Frank announced the appointment of Tridiana Ong as head of occupier strategy and services. Ong was previously with Colliers for over four years, most recently serving as executive director of tenant representation. At Knight Frank Singapore, she leads a team of 16 brokers, specialising in leasing across the commercial and industrial sectors.
She replaced Calvin Yeo, who had led the business for almost a decade. Yeo was also appointed managing director and head of workplace consulting and project management in April 2022.
Closer regional integration
With Knight Frank Singapore moving from a joint venture to a wholly owned subsidiary of Knight Frank Asia Pacific, the two firms are now working more closely to identify operational efficiencies and areas for collaboration.
We are working a lot more closely, and exploring how we can collaborate beyond what we are already doing,” says Tan. “For instance, we are working on creating new work neighbourhoods to seat the local and global teams of relevant business lines closer together.”
After all, Knight Frank Asia Pacific’s office is on the same floor as Knight Frank Singapore’s, separated only by a door.
Knight Frank Asia Pacific’s office is on the same floor as Knight Frank Singapore’s, separated only by a door (Photo: Samuel isaac Chua/EdgeProp Singapore)
Shaped by eight decades of change
Knight Frank Singapore’s business has evolved significantly over its 86-year history — as has its ownership.
Established in 1940 as Cheong Hock Chye & Co, the firm began as a six-man property consultancy in a two-storey shophouse at the corner of Chulia Street and Raffles Place. During World War II, it relocated to 14 Robinson Road after a bomb landed at its doorstep.
In the 1980s, the firm merged with the Knight Frank & Rutley group in the UK and Baillieu Real Estate in Australia, with Cheong Hock Chye & Co holding a 55% stake in the new entity. In 1996, the firm was renamed Knight Frank as part of a global branding exercise.
In 2011, the seven partners who collectively owned Cheong Hock Chye & Co sold their 55% stake to hotel owner and investor LC Development, later renamed AF Global. Fourteen years on, Knight Frank Singapore has come full circle — now 100% owned by the London-based global property consultancy.
KF Property Network at a crossroads
Knight Frank’s associate agency business, KF Property Network, was established in 1999 to handle residential resale transactions. In January 2025, the departure of 111 salespersons — including its head Evan Chung — to Singapore Realtors Inc reduced the sales force to 145. As at Jan 4, the figure was 99 salespersons.
Last July, Tan Tee Khoon returned as head of KF Property Network and also assumed the role of managing director of corporate affairs. He previously led KF Property Network and served as a key executive officer for nearly seven years, from 2013 until 2019, when he joined PropertyGuru.
According to CEO Tan, KF Property Network has since been approached by several firms with sizeable agent teams and ancillary businesses. “There are a few proposals on the table that we are reviewing,” he says. “We want to see how they can leverage our brand, and where we can leverage their manpower.” Plans have yet to be firmed up. Tan notes that many of KF Property Network’s salespersons have been with the firm for decades, some since its inception in 1999.
“We are constantly looking at what’s the best way forward, other than simply migrating our agents to a platform and being done with it,” he adds. “It’s a very competitive landscape. Clearly, some agents who have been with us a long time see value in the brand, even as scale becomes increasingly important.”
Some of the bigger projects handled by Knight Frank include the poroperties owned by the Singapore Land Authority such as the colonial-era Black & White bungalows (Photo: SLA)
Property and facilities management as a growth pillar
Knight Frank Estate Management was formed in 2000 to provide professional property management services. In 2024, the division was rebranded as Knight Frank Property and Facilities Management.
In January, Alan Wong joined Knight Frank Property and Facilities Management as COO and head of facilities management. Peter Tan, the former managing director and head of facilities management, retired late last month. Wong previously served as COO of St Luke’s ElderCare, where he focused on digital transformation.
Having spent a month at Knight Frank, Wong observes that the firm holds “a lot of latent data points”.
“Whether you call it BI [business intelligence] or AI [artificial intelligence], I’m trying to move away from the hype,” he says. “Once we chart the right digital path, our clients will be the primary beneficiaries. We will invest where needed. With the right data, we can really help them increase the value of their assets.”
Tan agrees. “Everyone talks about technology, but implementing it successfully is something many struggle with. Alan has a tech background, and we are looking to leverage his experience to drive our digital transformation. He will also be looking at strengthening the overall facilities management business, and seeing how we can be more competitive in sectors we want to grow into.”
Knight Frank has been managing Ardmore Park (pictured) for 22 years, and is also the property manager for Ardmore II and Ardmore Three (Photo: Samuel Isaac Chua/EdgeProp Singapore)
From property managers to community managers
Eleana Teo, managing director of strata management under Knight Frank Property and Facilities Management, has been with the firm since 2004. Today, the firm manages more than 50,000 units across 150 strata-titled developments spanning all asset classes. About 85% of the units are residential.
Knight Frank manages more than half of the condominium projects in prime Districts 9, 10 and 11. These include Ardmore Park, Ardmore II and Ardmore Three, the St Regis Residences linked to the St Regis Singapore hotel, Wallich Residence integrated with Guoco Tower, and the 1,715-unit d’Leedon.
For developments such as Yong An Park, Ardmore Park and Nassim Mansion, Knight Frank has served as managing agent for over 20 years. At Nassim Park Residences and St Regis Residences, it has held the role for at least 15 years.
“In the past, we were just property managers,” says Teo. “You cannot play that role anymore. Today, you are looking after residents’ well-being and sometimes acting as a peacemaker. Expectations are higher, buildings are getting smarter, and communities are getting more diverse. Our job is really to bring all these together, seamlessly.”
At d’Leedon, where many residents are expatriates, activities such as tai chi sessions and evening folk dancing are organised by the management council. “As managing agents, we need to stay attuned to lifestyle trends and advise council members accordingly,” she adds.
Knight Frank has been managing St Regis Residences for the past 15 years (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Looking ahead
The property and facilities management arm “has been a big part of our business”, says Tan. “There is definitely a lot of opportunity as no single player dominates the market.”
He adds: “That means if we strive to do better and serve people better, we can grow into that space.”
For a firm that has evolved through war, mergers and acquisitions, and reintegration, Knight Frank Singapore’s next phase of growth appears set to hinge less on scale — and more on targeted expansion.
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