Far East Organization retained Starcom as its media agency for Singapore after a pitch, maintaining its four-year partnership with the agency.
Marketing understands that Maxus, MPG and MediaCom also vied for the account. Account billings are estimated to be US$70 million.
Starcom Singapore will remain agency-of-record for the property giant’s media planning and buying. This is the agency’s third consecutive tenure with Far East Organization, having first been appointed for its media account back in 2009.
With the re-appointment, Far East Organization hopes to grow the scale and depth of Starcom’s work for its properties and media investments. Starcom’s duties are limited to the Singapore market, while MPG holds its media business for its four overseas markets of China, Indonesia, Hong Kong and Malaysia.
Oh Thay Lee, director of corporate affairs & group general manager, Far East Organization, said: “As part of our good corporate governance, we periodically review our agency partners to ensure we are making the best appointments out of each agency partnership.”
Since its establishment in 1960, Far East Organization has more than 700 developments in the residential, hospitality, retail, commercial, and industrial sectors, including 42,500 or one in six private homes in Singapore.