Every time I come to Singapore I meet up with my friend Fauzi, a Malay Singaporean who works in the IT industry. As well as being a great guy Fauzi knows a lot about what is going on in the city. Getting together this time took longer than usual due to his work schedule and my new phone.
Fauzi works for an IT company and said the guys in Singapore are up to date on the latest developments in their field, “You’ve got to be up to date,” he said, “you’ve got to love it in your spare time and have an interest in it.” Fauzi gets to fly all over SE Asia on company business and said when he flies out at night Singapore looks like his little pearl, with all the lights. What the future holds for him is unsure, but at least he’s in an industry that is active. Fauzi said he would love to find work in Australia as the IT person for a company, but not for another IT firm. He said the guys at work talk shop all the time and it does his head in.
According to Fauzi, real estate is a great sector to get into in Singapore, if you have the money. Apparently there were new condos built on Sentosa island, across from the World Trade Center. A wealthy local snapped a couple up and tripled his money in about a month, with a foreign connection. If it was me I would of keep the condos, in 20 years Singapore will be heaving with people and anyone with a beach-side condo will be laughing.
Fauzi told me that 20 year ago his grandparents bought an apartment for $40,000 Sing and its now over $400,000. One trend in Singapore is for the residents of a building to agree to sell there apartments to the government as one block, which greatly increases the price. It also brings up the value of the surrounding neighborhood. Last night we had a drink at a bar called something like the Jazz Pub near Arab St, a very cool area, with older preserved houses lining the street. Fauzi told me that very bars can make a living in the area as rents are so high, probably $5,000 Sing + a month.
Still all considered, I think Singapore is well positioned for the 21st Century, being close to China and several other countries. Fauzi said he thought that considering Singapore has no natural resources, it was the harbor that was its greatest asset. I said I thought it was ‘trust’ that Singapore has over most of the other countries in the region. People come here to bank, to seek medical attention and to get a square deal, which might not happen in Philippines, Indonesia, Malaysia etc.
Walking home Fauzi pointed out Al Sagoff, a madrasa, the oldest Muslim school in Singapore and the National mosque. Maybe Fauzi could start a tour guiding business for visiting tech guys.
