habitap: one app to rule them all week of... · the development has four penthous-es priced at $30...

PROPERTY PERSONALISED

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of March 25, 2019 | ISSUE 874-96

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park

Habitap: One app to rule them allFranklin Tang, founder and CEO of the tech firm, has cornered a big chunk of a market that did notexist three years ago. Today, the firm is a market leader on the smart building frontier.

Turn to our Cover Story on Pages 8 & 9.

Tang: Habitap is really about creating communities and allowing vendors to use our tech

Superhomes Family home at The Ladyhill for $7.5 mil

ep4

Spotlight BS Capital offers

Hmlet@Lumiere portfolio for $93 mil ep6

Under the Hammer Four Seasons Park unit

up for auction at $6.2 mil ep10

Done DealsGreater Southern

Waterfront spurs Tanjong Pagar condo sales ep12

SAM

UEL

ISAA

C C

HUA

/ED

GEP

ROP

SIN

GAP

ORE

EP2 • EDGEPROP | MARCH 25, 2019

PROPERTY BRIEFS

EDITORIALeditor | Cecilia Chowdeputy editor | Amy Tanwriters | Timothy Tay, Bong Xin Ying, Charlene Chindigital writer | Fiona Hohead, copy editing | Pek Tiong Geecopy editor | Rachel Hengphoto editor | Samuel Isaac Chuaphotographer | Albert Chuaeditorial coordinator | Yen Tandesigner | Kim Sy

ADVERTISING + MARKETING ADVERTISING SALES

vice-president, sales & operations | Diana Lim deputy account director |Janice Zhusenior account manager |James Chuaaccount manager |Pang Kai Xinregional business development manager | Cole Tanhead of marketing & branding |Rachel Lim Shuling

CIRCULATION managers | Ashikin Kader, Bryan Kekexecutive | Malliga Muthusamy

CORPORATE chief executive officer | Bernard Tong

PUBLISHERThe Edge Property Pte Ltd150 Cecil Street #13-00Singapore 069543Tel: (65) 6232 8688Fax: (65) 6232 8620

PRINTERKHL Printing Co Pte Ltd57 Loyang DriveSingapore 508968Tel: (65) 6543 2222Fax: (65) 6545 3333

PERMISSION AND REPRINTSMaterial in The Edge Property may not be reproduced in any form without the written permission of the publisher

We welcome your commentsand criticism: [email protected]

Pseudonyms are allowed but please state your full name, address and contact number for us to verify.

Oxley's potential $950 mil deal falls through after Gracious Land defaults on $38 mil deposit Oxley Gem, a subsidiary of Ox-ley Holdings, has terminated the letter of intent (LOI) it re-ceived from Gracious Land in January for the $950 million purchase of its Mercure and Novotel hotels, after falling to receive a subsequent deposit of $38 million when it was due.

In a late night filing on March 19, the group says Gracious Land has requested for a refund of the initial $9.5 million depos-it it paid for the two hotels on Stevens Road to Oxley Gem.

Terms of the LOI does not provide for such a refund for the deposit save for under cer-tain specified events under the contract, says the group, add-ing that Oxley Gem “reserves its rights to take all steps nec-essary to protect its interest”.

The group intends to contin-ue exploring other opportuni-ties regarding its Mercure and Novotel hotels on Stevens Road.

DBS Vickers Securities ana-lyst Rachel Tan previously esti-mated that if the hotel sale had gone through as intended, the proceeds could have helped to reduce Oxley’s net debt-to-eq-uity ratio to 1.8 times from 2.5 times as at September 2018.

Braddell View up for collective sale at $2.08 bil Braddell View, the largest of the 18 HUDC estates in Singapore, will be put up for collective sale via public tender on March 27, announced its marketing agent Colliers International.

The reserve price of $2.08

billion translates to a land rate of $1,199 psf per plot ratio (ppr). This is inclusive of the differential premium to inten-sify land use and top up the lease to a fresh 99 years, esti-mated at $795.1 million. The site has a lease tenure of about 102 years with effect from Feb 1, 1978. It has 61 years left on its lease.

Braddell View, a former HUDC estate, was privatised in 2017 and sits on a hilltop site spanning about 1,142,276 sq ft. The redevelopment site comprises two separate land lots of 618,221 sq ft and 524,055 sq ft respectively.

The estate comprises 918 units of apartments, maison-ettes, and penthouses, as well as two shops. The sizes of res-idential units range between 1,453 sq ft and 3,369 sq ft. The owners of residential units can stand to receive between $2.04 million and $4.03 mil-lion upon the successful sale. Meanwhile, owners of the com-mercial shops, which span 194 sq ft and 517 sq ft, could re-ceive between $529,500 and $1.2 million.

Under the 2014 Master Plan, the Braddell View site is zoned for residential use with a gross plot ratio of 2.1. It will have a proposed total gross floor area of about 2,398,781 sq ft. Col-liers estimates that up to 2,620 new residential units with an average size of about 915 sq ft could be built on the site, sub-ject to approval for a pre-appli-cation feasibility study.

The site has easy access to the Pan Island Expressway and Central Expressway. It

is served by three MRT sta-tions: Braddell on the North-South Line; and Marymount and Caldecott on the Circle Line. Come 2020, Caldecott MRT Station will be connect-ed to the new Thomson-East Coast Line, providing greater accessibility to northern and eastern Singapore.

In addition, the upcoming North-South Corridor (NSC) near the site will further im-prove accessibility and reduce travelling time to the city when it is completed around 2026.

The tender will close at 3pm on May 28.

Casa Sophia relaunches en bloc sale at $30 mil Casa Sophia, a freehold devel-opment on Sophia Road in Dis-trict 9, is up for collective sale for the second time via private treaty. This time, the asking price has been lowered to $30 million. This translates into a land rate of $1,158 psf per plot ratio (ppr).

Casa Sophia was first launched for collective sale in July last year at $36 mil-lion ($1,390 psf ppr), which is 16% higher. The 12-unit de-velopment sits on 12,327.9 sq ft of land and consists of only three-bedroom units measur-ing 1,152 to 1,453 sq ft each.

“It wasn’t an easy decision for the owners as many of them have lived here since the pro-ject was built, but with costs of maintenance increasing due to the age of the building, they felt that it is time,” says Tjhai Citanegara, a representative from marketing agent ERA Re-alty Network. The asking price

was lowered in line with the cur-rent market sentiment, he says.

“With its locality and rea-sonable asking price, we ex-pect stronger interest after the price reduction,” adds Citane-gara, noting that the initial at-tempt saw a couple of offers.

Under the Master Plan 2014, Casa Sophia is zoned for res-idential use with a gross plot ratio of 2.1. It can be rebuilt into an estimated 34 units at 753 sq ft per unit.

Two freehold sites at Cavan Road up for sale Two freehold redevelopment sites at 2 and 21 Cavan Road, off Lavender Street, are up for sale by public tender. They are jointly marketed by CBRE and HRL Properties.

2 Cavan Road has an indic-ative price of $47.4 million, while 21 Cavan Road has a price tag of $12.6 million. As-suming the existing building at 2 Cavan Road is conserved and incorporated into the pro-posed redevelopment, the de-velopment charge will be an additional $18.9 million. Mean-while, a development charge of $15.5 million is payable for the redevelopment of the small-er site at 21 Cavan Road. The guide price for each site works out to $1,100 psf per plot ratio after factoring in the develop-ment charges.

2 Cavan Road has a land area of about 20,100 sq ft and is currently a light industri-al-cum-warehouse building with a single storey adjoined to a three-storey block. It is under-stood to have been built in the 1950s. Located just across the

street is the smaller 21 Cavan Road at 8,529 sq ft. It is cur-rently occupied by a four-sto-rey light industrial building that was completed in 1975.

Under the 2014 Master Plan, both sites are zoned as “res-idential with commercial at 1st storey” with a plot ratio of 3.0. The successful buyer can consider maximising the gross floor area of 2 Cavan Road to approximately 60,301 sq ft and 21 Cavan Road to 25,588 sq ft upon redevelopment. Sub-ject to approval, new exten-sions within the conservation guidelines of up to six storeys high are permitted. Relevant development charges will be applicable.

The sites can be purchased individually or together. The public tender exercise closes at 3pm on April 30.

Sentosa Cove villa up for sale at $25 mil A villa at 33 Cove Drive in Sen-tosa Cove is up for sale at a guide price of $25 million, ac-cording to exclusive marketing agent Knight Frank Singapore.

The house sits on a 12,000 sq ft site, and is designed by celebrity architect Richard Lan-dry. The modern house comes with a living and dining room, a large master bedroom, four en suite bedrooms, a cinema, a wine cellar, a swimming pool, and comfortable out-door spaces.

Located in District 4, 33 Cove Drive is a three-minute drive to the Quayside Isle, and a seven-minute drive to Resorts World Sentosa.— Compiled by Bong Xin Ying

Braddell View sits on a hilltop site spanning about 1,142,276 sq ft The villa at 33 Cove Drive is designed by celebrity architect Richard Landry

KNIGHT FRANKCOLLIERS INTERNATIONAL

| BY BONG XIN YING |

City Developments Limited (CDL) and its joint venture partners – Hong Leong Holdings Limited

and Lea Investments – have sold 20 out of 25 released units to date since opening luxury development Boule-vard 88 up for exclusive private pre-views on March 8.

A sales value of over $160 million was achieved in less than two weeks, which is a “positive response” and “very encourag[ing]”, especially in the “cur-

rent market”, says Chia Ngiang Hong, CDL group general manager.

The average selling price is at $3,550 psf, and the majority of units sold were four-bedroom apartments priced above $10 million each. The rest were two-bedroom plus study and three-bed-room apartments. Singaporeans made up 60% of the buyers, with the remain-der being Permanent Residents and for-eigners mainly from Indonesia, China, and the US.

The 154-unit Boulevard 88 is the only brand-new freehold residential

development along Orchard Boule-vard in prime District 10. It is directly accessible through Orchard Boulevard and Cuscaden Road, and is a six-min-ute walk to the Orchard Road shop-ping belt, Orchard MRT Station on the North-South Line and the future Or-chard Boulevard MRT Station on the Thomson-East Coast Line.

Designed by world-renowned archi-tect Moshe Safdie, Boulevard 88 com-prises two 28-storey residential tow-ers that are connected at the top by a Sky Boulevard. Boulevard 88 is also

on top of The Singapore Edition Ho-tel conceived by American hotelier Ian Schrager and Marriott International. Residents can enjoy convenient access to the hotel’s dining facilities.

Prices for units at Boulevard 88 start from $4.4 million for a 1,313 sq ft two-bedroom plus study, $6 mil-lion for a three-bedroom unit, and $9.6 million for a four-bedroom unit. The development has four penthous-es priced at $30 million and $32 mil-lion. The largest penthouse has an area of 6,049 sq ft. E

E

Boulevard 88 sees 80% sales for released units

The Florence Residences has everything going for it: Situated right smack with-in the mature Kovan housing estate, the project is close to not just one, but two, MRT stations – Hougang and Kovan –

on the North East Line. Interesting eateries in the Hougang-Kovan

neighbourhood include hipster cafes such as Ice Edge Café, Lola’s Café, Hatter Street and Pur-ist Patisserie. For those who want more interna-tional cuisine, there are German bistro Knuckles Bar & Bistro, Ding Tele Shanghainese Restaurant, Yaowarat Thai Kway Chap, Hansik Korean res-taurant and Tachinomiya Japanese Bar, which serves Japanese beer and sake as well as Japa-nese street food.

Local restaurants include Ivins Nyonya Spe-cialties, Tian Wai Tian Fish Head Steam Boat and 888 Mookata, founded by local celebrities Chew Chor Meng and Zhou Chongqing in partnership with cousins Esmond and Ronnie.

Famous hawker fare in the area are the likes of Ponggol Nasi Lemak, Ponggol Noodles, Heng Long Teochew Porridge, Sin Chie Toke Huan Hainanese Curry Rice and Bee Kee Wanton Noo-dle. Food centres that draw residents from near and far include the Kovan 209 Food Centre, Teck Chye Food Street, Hougang Hainanese Village Centre and Chomp Chomp Food Centre in Seran-goon Gardens.

Malls in the area include Heartland Mall, which is linked to the Kovan MRT Station, Hou-gang Mall located along Hougang Avenue 10 and the adjacent Kang Kar Mall.

The Florence Residences is just one MRT stop from Nex, one of the biggest suburban malls and all-in-one entertainment-lifestyle destinations in Singapore. It has two food courts, a 24-hour hy-permarket and supermarket, a 24-hour fitness gym, Shaw Theatres cineplex and more than 300 shops. Nex is also integrated with a rooftop sky garden, dog park and playground, the Serangoon Public Library as well as Serangoon MRT and bus interchange stations.

Cross Island Line bonusThe completion of the first phase of the Cross Is-land Line will see Hougang MRT Station elevat-ed to an interchange station. This will bring res-idents within walking distance from the future Hougang MRT interchange station for the North East and Cross Island Lines.

The Defu station and upcoming Defu Industrial Park will be just one stop away. Punggol Digital District in the northeast, the Changi region includ-ing Jewel Changi Airport, and Jurong Lake Dis-trict in the west will be within a train ride away.

The Florence Residences is also near top lo-

cal and international schools such as the prestig-ious preschool Pat’s Schoolhouse, Rosyth School and Dimensions International College. Primary schools located within 1km of The Florence Res-idences are the likes of Xinmin Primary, Holy In-nocents’ Primary and Montfort Junior.

Next-generation industrial parksThe Cross Island Line will bring the future Defu New Industrial Park closer to home for those liv-ing in The Florence Residences. It is part of URA’s Master Plan to transform the existing Defu Indus-trial Estate into a green and sustainable park of the future over the next 15 to 20 years.

State-of-the-art industrial complexes with a total of 2.1 million sq ft of industrial space will be earmarked for a wide spectrum of industries – ranging from logistics and precision engineer-ing to info-communications and media, electron-ics, clean energy and biomedical.

Another “next-generation” industrial park nearby is Lorong Halus Industrial Park, which will cover an area of over 100ha and cater to light and clean industries such as food, life-style and logistics. Fronting the nearby Sungei Serangoon, it will likewise feature parkland, recreational amenities and public spaces for communal activities.

Both the Defu and Lorong Halus Industri-al Parks are envisioned to be major employ-ment centres for those living in the northeast region. It will be especially convenient for owner-occupiers or investors at The Florence Residences who wish to rent out to tenants who work there.

Amenities for all agesThe Florence Residences is brought to you by ac-claimed Hong Kong-listed property developer Lo-gan Property. While its maiden residential pro-ject, Stirling Residences, is a joint venture with Nanshan Group, The Florence Residences is de-veloped wholly by Logan Property.

The Florence Residences is a redevelopment of the former privatised HUDC estate, Florence Regency, which sits on a sprawling 389,239 sq ft site bounded by Florence Road and Hougang Avenue 2.

Given the scale of the project, Logan Prop-erty is able to create a “club-condo” concept with a comprehensive range of facilities – up to 128 different facilities – that cater to resi-dents of all ages. Even with so many facilities, potential buyers at The Florence Residences will be able to enjoy value-for-money as the conservancy charges will be low as they will be split among 1,410 units.

The centrepiece of the development is the two-storey, resort-style The Clubhouse over-looking the 80m island lap pool. For the youth and fitness enthusiasts, there is a well-equipped gym, a sparring ring pavilion; pool table and dartboard pavilion; and a cosy nook for out-door movie screenings.

For food lovers, there are many different themed dining pavilions, from the Italian Pa-vilion to the Japanese Pavilion as well as an Outback Grill. There’s also the Wine & Chill Pavilion for those who want to enjoy a good bottle of wine or whiskey with friends.

The developer is also offering residents com-

plimentary classes for the first two years in a wide variety of recreational pursuits, such as yoga, cooking, baking and floral arrangements.

Wide choice of unit typesThe Florence Residences has a wide range of unit types to cater to different lifestyles: with one-bedroom units from 474 sq ft and two-bed-room units from 624 sq ft. Three-bedroom units are sized from 893 sq ft, while four-bedroom units are upwards of 1,270 sq ft.

The five-bedroom units are from 1,668 sq ft, and come with private lift lobby, wet and dry kitchens as well as marble flooring. All penthous-es will have a double-volume ceiling height for the living and dining areas.

Prices at The Florence Residences average $1,450 psf*, with one-bedroom units start-ing from $677,000; two-bedroom units from $877,000; and three-bedroom units from $1.254 million. Four-bedroom units are upwards of $1.71 million, while five-bedders are from $2.456 million.

EDGEPROP | MARCH 25, 2019 • EP3

The Florence Residences, with 1,410 units, will be a new addition to the Kovan enclave. Being near several public transport stops, it is set to offer residents added convenience

View from a five-bedroom showflat unit at Logan Property’s mega-development

Potential residents can fully utilise the balcony space as an outdoor living room

View of a showflat of a one-bedroom unit at The Florence Residences

The Florence Residences banks on rejuvenation of Kovan-Hougang area Instead of waiting for 10 years for the future Cross Island Line, homebuyers of The Florence Residences will enjoy immediate accessibility to two existing MRT stations, proximity to next-generation industrial parks at Defu and Lorong Halus, as well as a residential development with a resort-style, club-condo concept.

BROUGHT TO YOU BY LOGAN PROPERTY

PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

LOGAN PROPERTY

SALES GALLERY: ALONG HOUGANG AVE 10FOR MORE INFORMATION, VISIT THE-FLORENCE-RESIDENCES.SG ORCALL 6100 8300 / 6100 8311

*Prices subject to change and availability.


| BY AMY TAN |

Husband and wife, Arjan and Amber De Boer, were looking for a home in 2004 when they came across The La-dyhill, a boutique luxury condo locat-ed next to Shangri-La Residences, just

off Orange Grove Road. The design concept of SCDA Architects’ Chan

Soo Khian for The Ladyhill – a low-rise develop-ment with just 55 units, surrounded by green-ery, water features and façade of natural stone – “resonated with us”, says Arjan in a phone interview with EdgeProp Singapore.

Arjan is the co-founder of InSitu, a devel-oper and manager of hospitality concepts. The couple develop villas and hotel resorts in Bali, Indonesia, and share a love for interior design, despite never having been trained in the field. “Through our work, we meet a lot of architects, interior designers, landscaping designers, and you get ideas all the time,” he says. “You are ba-sically inspired all the time after working with all these people.”

The couple purchased a 3,283 sq ft, four-bed-room apartment on the first level at The Ladyhill in 2004. The living room has full-height glass sliding doors opening out to a patio, which over-looks the lawn. They have been living there since.

“We really like the tranquillity of the place despite its proximity to Orchard Road, which is such a busy area,” says Amber in the phone interview. “Everything we need is within walk-ing distance.”

Six-year renovation in phasesEven when they renovated their apartment, the De Boers did not move out. Their last renova-tion took place over a span of six years and was completed last year. It cost about $1 million.

They renovated in phases over the years to accommodate the needs of their growing fam-

ily. They now have two daughters aged seven and nine, a helper, a golden retriever and a cat.

“Given that we have a very young family, where everything was changing, we lived with our renovation and then we reconsidered the next section that we wanted to do and we did it slowly,” says Amber. “So many people renovate an entire house without actually living through it. And they end up regretting what they have done further down the track when they have to renovate again.”

One of the first things they did was to re-move the water feature at one end of the liv-ing room. This allowed them to extend the liv-ing area. Amber also wanted an open-concept kitchen so she could see and hear her children when she was there. As such, the wall enclos-ing the kitchen was torn down to make way for a custom-built kitchen from Germany by luxu-ry kitchen designer Eggersmann, with high-end kitchen appliances from Gaggenau.

Both brands worked together to ensure that the glass-fronted doors on the De Boers’ fridge and freezer could suit the Singapore climate. The Eggersmann and Gaggenau offices in Ger-many are located within close proximity, ena-bling them to customise their appliances and finishing easily.

“Amber spent a lot of time on this,” recounts Arjan. “She basically went through all the cata-logues and called them [the retailers] up to find out the largest fridge and freezer she could get.”

The couple added more wardrobe and stor-age space in the bedrooms. Even though there were three en suite bedrooms in the unit, a fourth bedroom had to be added when the two daughters wanted their own rooms. This is be-cause the third bedroom had been designated the guest bedroom. A new bedroom was there-fore created from part of the space that was freed up after the removal of the water feature in the living room as well as the study.

The wooden deck and river stones in the pa-tio were replaced with stone slabs that were eas-ier to maintain and this also created more space for the pets to roam about freely.

Sensitivity to original design Apartments at The Ladyhill are fitted out with marble, granite, semi-precious stone and teak floors. Even though the De Boers extensively renovated their apartment to suit their fami-ly’s needs, they were sensitive to the original design and materials used.

For instance, when they covered up the wa-ter feature and redesigned the kitchen, Arjan visited six different stone suppliers to source

for the same type of marble used for the floor-ing. “He stood in the hot midday sun and went through each slab to make sure that the grains matched,” says Amber.

Adds Arjan: “You could ask a contractor to do it, but he will not make the same effort in finding slabs of the same colour or to make sure that the grains match.”

The pride that the De Boers take in maintain-ing their home has also extended to the devel-opment as a whole. Arjan has even joined the Management Corporation Strata Title (MCST) committee for The Ladyhill as a council mem-ber, and is actively involved in the rollout of the various maintenance programmes.

SUPERHOMES

Family home at The Ladyhill for $7.5 mil

Every unit at The Ladyhill has marble flooring

PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

The Ladyhill is a freehold project comprising two parallel, four-storey terrace blocks facing a landscaped courtyard


Facilities include an infinity pool, a function room, a gymnasium, and a lotus pond which runs the length of the development. The gym was renovated two years ago while the swim-ming pool deck and furniture were replaced with new ones recently. Meanwhile, the lotus pond and landscaped gardens are maintained regu-larly. Hence, despite being 17 years of age, the condo still looks pristine today.

‘Pride in the development’“All the council members take pride in the development,” says Arjan. “We want to main-tain it regularly so that we reduce future costs of upkeep.”

The Ladyhill was the maiden luxury condo development by Simon Cheong of SC Global Developments. The freehold project in prime District 10 also marked the first collaboration

between SC Global and SCDA Architects in a high-end condo project. Since then, SC Glob-al has become a developer synonymous with luxury projects.

For instance, SC Global’s The Marq on Pat-erson Hill – where SCDA was also the archi-tect – was the first condo in Singapore where prices first crossed $5,000 psf during the last peak of 2007/2008. Moreover, it achieved the highest psf price of $6,842 in 2011, a record that remains unbroken today.

SC Global is also the developer of Sculp-tura Ardmore in Ardmore Park, where the super penthouse was sold for $60 million or over $6,000 psf in 2017.

All the 55 units at The Ladyhill are four- to five-bedroom units with sizes from 2,239 sq ft. The biggest units are those on the first level, which are up to 4,187 sq ft. The pent-

houses on the fourth level are all 3,843 sq ft in size.

Premium valueWhen the project was first launched in 2000, units were sold at prices ranging from $1,139 to $1,781 psf, based on caveats lodged then. Prices at The Ladyhill peaked in 2010, when units crossed $2,800 psf. The highest were for two units of 2,325 sq ft on the second level that changed hands for $6.6 million ($2,839 psf) each in April and October 2010 respectively, accord-ing to caveats lodged then.

The prices at The Ladyhill have held up well over the years, says Sharon Lee, senior director and head of auction sales at Knight Frank. Lee brokered the sale of a 4,187 sq ft unit on the first level for $10.3 million ($2,460 psf) in December.

“The Ladyhill is sought-after because it was SC Global’s first project,” says Lee. “The quality of the finishing and materials used is top-end. The property has therefore been able to main-tain its premium value. It’s also rare to find a project so close to Orchard Road and yet still so peaceful.”

After some 14 years at The Ladyhill, the De Boers have decided to sell their apartment. “The Ladyhill has been very good to us but our chil-dren are coming to the crucial schooling age that require us to make some big decisions,” says Amber.

Adds Arjan: “We are ready for our next ren-ovation project.”

The De Boers have therefore engaged Knight Frank’s Lee to be the exclusive agent for their apartment. The asking price for the property is said to be $7.5 million ($2,284 psf).

The 10-year-old, 2½ -storey property cost close to $1.8 million to buildThe living room’s folding doors can be opened to extend the space into a courtyard

The De Boers fitted out their open-concept kitchen with Eggersmann and Gaggenau finishing and appliances

E

One of the daughters' bedrooms

The couple removed the original water feature to make room for more living space

The guest room

The master bedroom en-suite

SUPERHOMES


| BY CECILIA CHOW |

On Friday morning, March 8, Raymond Ng, founder of property development firm BS Capital, paid an impromptu visit to Lumiere. He toured some of the newly furnished apartments on

the top 12 floors of the 45-storey residential tower located on Mistri Road, just off Shenton Way in the CBD.

Co-living company Hmlet was putting the finishing touches on the units, with a feature wall of deep blue in the living room – a Hmlet signature – contemporary Scandinavian style furniture, home accessories from Ikea and pot-ted plants to give the apartments a homely vibe.

They were certainly a contrast to the stark white walls of the past, acknowledges Ng. “I always thought a co-living or serviced-apart-ment type concept will work,” he says.

Ng, whose BS Shenton Pte Ltd is the devel-oper of Lumiere, owns all the 43 units which span the 34th to 45th storeys. He had been

holding onto these units since the 168-unit res-idential tower was completed in 2010. Mean-while, the units on the lower floors have al-ready been sold over the years.

Conversion to co-livingInitially, he baulked when he was told that all the existing furniture in his units at Lum-iere had to go. That was after Hmlet’s ground staff took possession of the units on Feb 15. “All the furniture was usable,” Ng says. “But Hmlet wanted them removed so they could bring in their own furniture. It would have cost $40,000 to get someone to take them away.”

Samuel Eyo, managing director of Light-house Property Consultants, came to the res-cue by offering the furniture for free to friends who were property leasing agents.

Eyo had also introduced Ng to Hmlet co-founders Yoan Kamalski and Zenos Schmick-rath in January. That coincided with the end of the master tenancy agreement that Ng had with his previous tenant.

Ng’s BS Shenton Pte Ltd struck a leasing agreement with Hmlet to manage the 43 units for the next five years, and the units have been branded Hmlet@Lumiere.

Hmlet is able to provide a turnkey service for developers and building owners – from fur-nishing the units, to managing them, to rent-ing the units out on a per bed basis – and give the building owners a monthly rental return.

From apartments to bedsThe co-living operator also ensures that the rent-al leases with its members adhere to URA resi-dential leasing conditions, such as a minimum rental period of three months and the number of unrelated occupants in a private residential unit to be capped at six, says Schmickrath, who is also Hmlet CXO (chief experience officer) and chairman of the board at Hmlet Coliving.

Hmlet is at heart a technology-based firm, says Schmickrath. All members are connect-ed by an app, which allows them to chat with other residents, request services and lodge

complaints. Data collected through the shared platform is also used to make informed deci-sions such as how to match members who live in the same unit, and how to design spaces. Generally, the biggest fit-out cost is the kitch-en, Schmickrath points out.

The 43 apartments at Hmlet@Lumiere com-prise 32 one-bedroom units, eight 2-bedroom units, two duplexes and a penthouse. Studi-os are 47 sq m (506 sq ft); one-bedroom units range from 58 to 63 sq m (624 to 678 sq ft); two-bedroom units from 91 to 93 sq m (980 to 1,001 sq ft); and duplexes from 216 to 237 sq m (2,325 to 2,551 sq ft). The sole penthouse on the 45th floor is 473 sq m (5,091 sq ft).

The units at Hmlet@Lumiere have a total of 60 beds. One- and two-bedroom apartments have been made available for viewing by pro-spective members from March 18.

At Hmlet@Lumiere, most of the kitchen appliances are original DeDietrich, which are still in good condition.

The addition of these 60 beds at Lumiere

SPOTLIGHT

The living room of a one-bedroom unit at Hmlet@Lumiere with a deep-blue feature wall – a Hmlet signature

View towards the future Greater Southern Waterfront from one of the units at Hmlet@LumiereThe living room of a two-bedroom unit at Hmlet@Lumiere

PICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

BS Capital offers Hmlet@Lumiereportfolio for $93 mil


will bring Hmlet's portfolio to 1,000 beds by early June, says Schmickrath. Besides Singa-pore, Hmlet now has a presence in Hong Kong and Australia.

Hmlet premiumNg, who is also executive chairman of Singa-pore-listed environmental management solu-tions group Enviro-Hub Holdings, is optimistic that Hmlet@Lumiere will be able to attract mil-lennials. Having secured Hmlet as the co-liv-ing operator for the next five years, Ng has de-cided to put his entire portfolio of 43 units on the market for sale, with Eyo as the exclusive marketing agent.

The price tag for the portfolio is $93 million or $2,458 psf. According to Eyo, the Hmlet@Lumiere units are situated on the high floors and depending on their orientation, some units have unblocked sea views, others enjoy the CBD skyline, while some others look out to the future Great Southern Waterfront.

A co-living brand like Hmlet is able to pro-vide a 10% to 15% rental premium relative to the typical apartment, says Eyo. Under co-liv-ing, the apartments are rented out on a per bed basis, and the rental they charge members is inclusive of furniture, utilities and WiFi. There are no additional charges.

As such, Hmlet co-founders see hospital-ity at the core of its business. Renting a unit at Lumiere is equivalent to renting a serviced apartment property but with all the perks of a club membership. Hmlet regularly organis-es events for its members.

The rooftop deck above the penthouse of Lumiere will be turned into an entertainment deck with a bar, where events can be held. It is also a communal facility exclusive to Hm-let@Lumiere members residing on the 34th to 45th floors.

“Hmlet is clearly the market leader in the

co-living space in Singapore,” says Eyo. “Co-liv-ing operators like Hmlet are disrupting the leas-ing market, especially for agents who special-ise on leasing.”

Investment potentialAccording to URA records, units at Lumiere in the range of 400 to 500 sq ft have achieved month-ly rental rates ranging from $2,350 to $2,800 in December and January. Meanwhile, units of 600 to 700 sq ft have commanded monthly rental rates in the $3,000 to $3,200 range.

Based on the market rental rates achieved, Eyo estimates the new owner of the Hmlet@Lumiere units could look forward to a gross rental yield above 2% per annum.

Schmickrath points out the value of the Hm-let brand. He relates how Hmlet@Sam Leong in Little India was conceived. “The prospective owner was looking to buy a property then, and we asked if we could go shopping with him,” he recounts. “We identified the shophouse – a stan-dalone four-storey shophouse at 22 Sam Leong Road. We helped him to reconfigure the shop-house, the layout plans, and to fit out the units.”

The four-storey shophouse was converted into the 11-bed Hmlet@Sam Leong. “The layout is very unique,” says Schmickrath. “Each floor has a breakout area.” Hmlet also signed a five-year lease to manage the property.

With Hmlet, the owner was able to sell the property “almost immediately”, he adds. “Even though he did have to incur stamp duty, he was able to achieve a price that he wanted.”

Ng is hoping that he will enjoy the same up-lift with his Hmlet@Lumiere.

After all, Lumiere is a redevelopment of the former HMC Centre which he had purchased for $20.5 million back in 2005.

Lumiere previewed in December 2006, and units were sold at an average of $1,681

SPOTLIGHT

View of the city from the penthouse of Hmlet@LumiereCONTINUES ON PAGE EP16


COVER STORY

| BY TIMOTHY TAY |

On a recent Thursday afternoon, Franklin Tang, founder and CEO of tech firm Habitap, was at a building dubbed "Alice", which in his opinion, is the first truly “intelligent building

in Singapore”. The business park development by Boustead Projects spans 11 floors with a to-

tal gross floor area of 425,038 sq ft. Located at Mediapolis in one-north, the

building was completed at the end of 2018. According to Boustead Projects in its 3Q2019 results (ended Dec 31, 2018), about 60% of the net lettable area at Alice@Mediapolis is either leased or under negotiations.

After downloading the app created for the building users, Tang is able to enter the lift

lobby through the gantry without having to register at the reception desk.

The destination control system at Alice@Mediapolis allows tenants to access only their respective floors. It is an added security fea-ture. However, tenants can still issue access cards for guests visiting their office or attend-ing an event as well as provide parking access for their visitors.

“It’s an intelligent system, and doesn’t al-low you to keep going in and out of the gan-try,” says Tang. “We have also increased the performance to one second for NFC [near field communication] and three seconds for Blue-tooth on smartphones.”

‘INTELLIGENT SYSTEM’In addition to such front-end functions, the app is “fully integrated with the entire build-ing management system [BMS] and allows re-al-time access”, says Tang.

For instance, tenants at Alice@Mediapo-lis can check the availability of parking spac-es before they enter the building. They can extend their season parking and pay for it online. Via the app, the operating hours for the air-conditioning system can be extended beyond 6pm. Tenants at Alice@Mediapolis need not fill in and submit forms in advance, which is what those in older buildings have to do, adds Tang.

Even the bicycle racks and end-of-trip fa-cilities are integrated with the BMS. “That’s why Alice is the most intelligent building to date because it has all the facilities integrated on a single platform,” says Tang.

ONE BUILDING TO MULTIPLE BUILDINGSFrom one smart building, Tang is now work-ing on linking multiple intelligent buildings. “We were recently awarded a contract for a portfolio of four to five commercial buildings in the city centre where they will all be acces-sible via one app," he says.

Tang sees the biggest growth in smart build-ing technology taking place in the commercial sector. Including this portfolio of four to five buildings, Habitap is now managing 12 build-ings with a total of 10 million sq ft of net letta-ble area including offices, business parks and integrated developments.

Habitap’s foray into the commercial space came about with the launch of the MySphere app for M+S’ portfolio in Singapore in 2017, namely the two integrated developments DUO and Marina One. The total commercial space at DUO and Marina One covers 2.45 million sq ft.

Today, growth has quadrupled in a span of two years, reckons Tang. The 10 million sq ft NLA includes the three Grade-A office tow-ers at Paya Lebar Quarter, an integrated devel-opment by Lendlease at Paya Lebar Central.

SMARTENING UP OLDER BUILDINGSBesides new commercial buildings, Tang sees opportunity in older buildings, namely those that were completed 10 to 20 years ago and now need upgrading in order to keep up with more modern offerings.

A good example is Keppel Bay Tower, an 18-storey building at Harbourfront that was completed in 2002. Owned by Keppel Land, the office building has a total area of 394,000 sq ft.

Tang: We are excited to be able to connect homes and commercial buildings

Located in one-north, Alice@Mediapolis was completed at the end of 2018

Franklin Tang, founder and CEO of the tech firm, has cornered a big chunk of a market that did notexist three years ago. Today, the firm is a market leader on the smart building frontier.

Habitap: One app to rule them allPICTURES SAMUEL ISAAC CHUA/ EDGEPROP SINGAPORE


COVER STORY

At Keppel Bay Tower, Habitap has de-veloped an app similar to the one for Alice. However, the difference is that gantry access utilises facial recognition. Tenants and their visitors will have to take a selfie and upload the picture to the app. “They only need to do it once," says Tang.

Last September, Keppel Land announced that Keppel Bay Tower will be testing new technol-ogies, including intelligent building control sys-tem, cooling tower water management, smart lighting and an integrated sensor technology to optimise fresh air intake.

Habitap has also introduced an app for members of KLOUD, Keppel Land’s co-work-ing space on the 13th floor of Keppel Bay Tow-er, as well as KLOUD in Vietnam and Yangon. The KLOUD app enables members to book the boardroom, meeting rooms or event space. External parties may rent the event space at KLOUD too, says Tang. The KLOUD app can link the app to a payment system that allows them to pay for the space online.

Other uses of the app include locking and unlocking doors to the various meeting rooms, the snooze room and private rooms for video conferencing. The app even controls the lights and blinds in the meeting rooms as well as the projector screen at the event space.

GREATER COMPETITION IN SMART HOME SPACESmart home automation in the residential sec-

tor has become more competitive, with more players entering the space, he concedes.

It has been almost three years since Hab-itap’s first collaboration with Keppel Land in July 2016 to introduce a fully integrated smart home management system at the 336-unit Cor-als at Keppel Bay.

Since mid-2016, about 14,000 to 15,000 res-idential units with smart home features have been launched, estimates Tang. Of these units, Habitap’s market share is about 7,000 units, he reckons.

The 7,000 excludes another pipeline of 1,000 units that have been awarded, which are pending signed contracts. “If we add those, we would have 8,000 units in the pipeline,” he says. He therefore estimates Habitap’s like-ly market share to be “over 40%” in the res-idential sector.

Habitap is providing smart home features for UOL Group’s Clement Canopy, Amber 45 and The Tre Ver. This year will also see the completion of Lendlease’s Park Place Resi-dences at Paya Lebar Quarter, which will also feature a smart home app by Habitap. Other condominiums that have Habitap as a provider of home automation include Tuan Sing Hold-ings’ Kandis Residence and Mont Botanik Res-idence, as well as Wing Tai and Keppel Land’s joint venture project, The Garden Residences.

Another luxury condominium development by Keppel Land that Habitap will be provid-ing a smart home management system for is at

Nassim Hill. Marking Habitap’s first foray into a landed housing project is Lum Chang’s One Tree Hill Collection, which includes a visitor management system, smart parcel station for deliveries and geofencing around the estate.

MAPPING OUT YOUR DAY WITH THE APP“Smart buildings are a long time coming,” says Tang. Because we are creatures of habit, with the advent of artificial intelligence, we could soon have our own personal butler via an app. He paints a possible scenario in a not-too-distant future: “When you wake up, the app would have already switched on the wa-ter heater, and after a nice warm shower, you won’t even need to remember to switch it off because the app has already done it. When you leave the house, you don’t even need to remember to turn off the lights or the air-con-ditioner because it has already been done by the app.”

On the way to work, the app can even prompt you to buy a cup of coffee, adds Tang.

On a hot day, you no longer need to tell your helper to turn on the air-conditioner for you at home. You can do it with the app. If there’s a delivery, it doesn’t matter if there’s no one at home. The parcel can be left in the smart parcel box that can be unlocked with the app when you return home later in the evening, adds Tang.

“I think tech, when done smoothly, can be very elegant,” says Tang. “This is what gets us

very excited to do commercial buildings, where we can showcase our entire suite of offerings from home to office.”

LINKING COMMUNITIESThe URA has been engaging communities, business and other public agencies to enliv-en public spaces through placemaking pro-grammes. Tang says in order for placemaking programmes to be successful, a virtual plat-form needs to be created first.

Commercial landlords are beginning to see the need to develop an app for their mall ac-tivities and to engage with the community around them.

“With smart buildings and smart condos around them, these mall landlords see the op-portunity to access a huge potential custom-er base for their retail offerings,” says Tang. “We are already working with malls, in terms of mall promotions for condos and commer-cial buildings in the neighbourhood that are already using the Habitap app. Habitap is re-ally about creating communities and allowing vendors to use our tech.”

Beyond Singapore, Habitap has also ven-tured to the rest of the region, namely, Viet-nam, Malaysia, Indonesia, and Myanmar.

“What we are excited about is to be able to connect homes, commercial buildings and we would like to do student accommodation next," says Tang. “We want to build tech for all real estate classes.”

Habitap is also the smart home system provider for other upcoming UOL projects like The Tre Ver (shown) and Amber45

Habitap developed an app for Keppel’s serviced co-office solution Kloud in Keppel Bay Tower, and the build-ing is being upgraded with facial recognition features to integrate the app with the building

The Mysphere app, developed by Habitap in 2017, can be used in both DUO and Marina One

Habitap’s Mysphere app for commercial buildings was pioneered at Marina One (left) and DUO, two integrated developments by M+S

UOL GROUP

E


UNDER THE HAMMER

| BY CHARLENE CHIN |

A 2,260 sq ft, four-bedroom unit at Four Seasons Park, along Cusca-den Walk in prime District 10, will be put up for auction on March 27. This is an owner’s sale with a guide

price of $6.2 million ($2,743 psf), according to Edmund Tie & Co (ET&Co), which is han-dling the auction.

The fourth-floor unit overlooks the greenery of the trees within the development. It faces the landed estate of One Tree Hill, away from the noise and activities in the Orchard Road area, says Joy Tan, head of auction and sales at ET&Co.

The space of the unit is fully utilised, with no balcony area, bay window, or household shel-ter, says Tan. It boasts an entrance foyer, a spa-cious living and dining area as well as a family area, she adds. The master bedroom has a walk-in wardrobe and en suite bathroom, while the junior suite comes with an en suite bathroom. The remaining two bedrooms both share an ad-joining bathroom.

The unit is currently tenanted at $8,650 per month until August this year, says Tan, with an option to renew the existing tenancy. Rents for a similar-sized unit at the development in Jan-uary ranged from $8,000 to $10,500, based on caveats lodged with URA.

The owner, a local, had purchased the unit in May 2007 for $5.4 million ($2,389 psf). He wants to sell and cash out for a “comfortable retirement”, says Tan.

Completed in 1994, Four Seasons Park com-prises 202 freehold units. It is a five-minute walk to Orchard MRT Station on the North-South Line and the Orchard Road shopping belt. It is within a 1.6km distance to sever-al medical institutions, such as Gleneagles Hospital, Camden Medical Centre and Mount Elizabeth Hospital. There are also a number of embassies in the area, such as the US Em-bassy, the Chinese embassy, the Australian High Commission, the Royal Thai Embassy and the British High Commission.

Four Seasons Park sits on a sprawling land plot of about 299,775 sq ft. Given the large land plot, owners may look forward to a potential en bloc sale in the future as the condo is in a prime location, points out Tan. “The project site and unit sizes are much bigger than newer develop-ments these days.”

The highest psf price fetched at Four Seasons Park was for a 3,821 sq ft, six-bedroom unit on the 22nd floor. It was sold at $3,036 psf, or $11.6 million, in July 2013.

So far, there has mostly been interest from local buyers, comprising a mix of owner-oc-cupiers and investors, shared Tan.

Unit at Four Seasons Park up for auction at $6.2 mil

Recent transactions at Four Seasons Park

CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF)

Jun 29, 2018 2,260 6,000,000 2,654

Jun 11, 2018 2,260 6,000,000 2,654

Apr 16, 2018 2,260 5,500,000 2,433

Jan 5, 2018 2,260 6,682,820 2,956

Oct 19, 2017 3,821 11,300,000 2,957

Recent rental contracts for 2,200 to 2,300 sq ft units at Four Seasons ParkCONTRACT DATE MONTHLY RENT ($)

January 2019 8,600

January 2019 8,000

January 2019 8,000

January 2019 8,700

January 2019 9,600

January 2019 10,500

January 2019 8,600

URA, EDGEPROP SINGAPORE

The fourth-level unit faces the landed estate of One Tree Hill

ET&CO

E


Thong Lo or Sukhumvit Soi 55 in Bangkok’s Watthana district has long been a coveted address in the city due to its association with class and nobility.

Translated literally as “molten gold”, Thong Lo is the choice address for the rich – both millennials and multi-generational families. It is equivalent to the Dempsey Hill, Holland Road and Orchard Road enclaves in prime Districts 9 and 10, with their hip restaurants, cafes, lifestyle offerings as well as upmarket malls and residences.

Now, Thailand-listed property developer San-siri and mass transit provider BTS Group Holdings have joined hands to offer buyers in Singapore an opportunity at The Monument Thong Lo, which is ideal as a long-term investment or a second home.

Unique designLocated in the heart of Thong Lo, The Monument Thong Lo was designed by dynamic Bangkok-based architectural firm Quintrix Architects. The 45-storey residential tower houses just 127 apartments, with a mix of two- and three-bedroom units as well as three penthouses. Apartment sizes are generous, with two-bedroom units of 1,337 sq ft; three-bed-room units of 2,715 sq ft; and penthouses from 5,476 to 7,126 sq ft.

With only two to four units per level, each apart-ment is served by a private lift. Given the orientation of the units, every apartment will enjoy a panoramic 180-degree city view. Besides the generous interior spaces, each apartment will have an en suite out-door deck with ceiling and flooring of solid wood. It is an ideal extension of the living and dining area, and comes in useful when entertaining at home. It is also the perfect outdoor lounge for enjoying the view

of the Bangkok skyline – by day or night. The developer has also paid attention to the fin-

ishing. To maximise enjoyment of the view, yet screen off the glare of the sun and the buzz of the city be-low, full-height, triple-glazed low-e glass sliding doors and windows are installed for every unit. Flooring in the lobby, living and dining areas will be of ex-clusive White Venus marble imported from Greece; while bedrooms will have flooring of solid timber.

Facilities and servicesFacilities include a 28m, uniquely designed swim-ming pool, landscaped parkland, a fitness gym, yoga room, children’s play area, multi-purpose area and a chauffeurs’ lounge. There will also be a dog park, which makes The Monument Thong Lo the first luxury project in Thailand to offer such an amenity for pets.

At The Monument Thong Lo, residents will be able to enjoy the services of butlers, a romanceol-ogist to concoct the ideal scent for the home, per-sonal gym trainers, valet parking and limousine services as well as other perks. A mixologist will be on hand during happy hour to serve up drinks created by leading bars in Thailand such as Rabbit Hole, Locker Room and 008 Bar. A special concoc-tion named “The Monument” has also been creat-ed as a tribute to the development.

Future residents of The Monument Thong Lo will be spoilt for choice by the area’s lifestyle and F&B options. At its doorstep is 70 Courtyard which fea-tures a collection of bars and restaurants, as well as Beam, a popular techno club. Nearby, The Commons offers a range of gastronomic delights. Residents can also enjoy the high life at Octave Rooftop Bar and Lounge, which offers a 360-degree view of Bangkok.

Reputable developerOver the past 35 years, Sansiri has earned a repu-tation as a Thai developer of quality, high-end pro-jects in the prime districts of Bangkok. Sansiri has become a major developer not just in Thong Lo but also in the neighbouring Ekamai area. Besides The Monument Thong Lo, two other standout develop-ments by Sansiri in the area are Khun by Yoo, a col-laboration with Yoo Design Studios; as well as Taka Haus, a collaboration between Japan’s Tokyu Corp and Sansiri in the prime location of Ekamai 12.

On the heels of its success in Bangkok, Sansiri has also ventured into the UK, and has developed two hotels as well as a residential project in the prime Kensington neighbourhood of London.

Beyond property development, Sansiri also pro-vides its residents and homebuyers with add-on benefits such as concierge and butler services. San-siri also has a property management arm that helps overseas investors rent out their units.

Investing in a landmark projectThe Monument Thong Lo is scheduled for comple-tion by 2Q2019, which means residents will be able to receive their keys in the coming months.

With its prestigious location and proximity to life-style options as well as amenities like public trans-

port, properties in Thong Lo have recorded the highest price increases in Bangkok over the past five years. According to Nexus Property Survey, total returns on real estate investment – both in terms of sales and rental income – have hovered around 66% annually.

The Monument Thong Lo will be showcased at Sansiri’s newly opened sales gallery, Siri House at Dempsey in Singapore. There, visitors will be able to enjoy a taste of the luxurious lifestyle offered at The Monument Thong Lo in Bangkok and meet a Sansiri sales representative.

Those who are interested can make an appoint-ment with the developer's sales representative at Siri House to visit the actual site and show units in Bangkok. They can rest assured that they will be well taken care of by the Sansiri team during the proper-ty tour in Bangkok.

Apartment prices start from THB34.52 million (S$1.5 million*) for a two-bedroom unit.

The Monument Thong Lo: A legacy of luxury in Bangkok

ONE GLOBAL PROPERTY SERVICES

ADRIAN LIM: +65 9690 0666

[email protected]

BROUGHT TO YOU BY SANSIRI

Top gains and losses from March 5 to 12

Source: URA, EdgeProp Note: Computed based on URA caveat data as at March 19 for private non-landed houses transacted from March 5 to 12. The profit and loss computation excludes transaction costs such as stamp duties.

Most profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)PROFIT ($) PROFIT

(%)ANNUALISED PROFIT

(%)HOLDING PERIOD

(YEARS)

1 GLENTREES 10 1,991 Mar 12 1,381 Feb 26, 2003 647 1,462,100 114 5 16.02 MERAPRIME 3 1,313 Mar 8 1,561 Jun 2, 2005 592 1,272,000 163 7 13.83 TWIN REGENCY 3 1,227 Mar 11 1,671 Jul 2, 2004 662 1,238,200 153 7 14.74 ARDMORE II 10 2,023 Mar 6 2,940 Oct 16, 2006 2,434 1,025,006 21 2 12.45 THE TRILLIUM 9 1,797 Mar 7 2,003 Dec 14, 2009 1,550 813,100 29 3 9.26 QUEENS 3 1,194 Mar 8 1,289 Dec 3, 2002 611 810,500 111 5 16.37 CASPIAN 22 1,399 Mar 5 1,143 Feb 20, 2009 595 767,500 92 7 10.08 BAYWATER 16 1,291 Mar 12 1,068 Dec 11, 2003 495 740,000 116 5 15.39 QUEENS 3 1,410 Mar 7 1,291 Aug 1, 2000 781 719,000 65 3 18.610 GALAXY TOWERS 15 1,065 Mar 7 1,126 Jun 11, 2002 477 692,000 136 5 16.711 THE INTERLACE 4 1,797 Mar 8 1,307 Nov 22, 2010 927 684,300 41 4 8.312 FLAME TREE PARK 20 1,862 Mar 12 1,235 Mar 9, 2011 873 675,000 42 4 8.013 THE BEACON 2 1,108 Mar 6 1,353 Apr 16, 2009 749 670,000 81 6 9.914 BLOSSOMS @ WOODLEIGH 13 1,205 Mar 11 1,381 May 30, 2008 871 615,000 59 4 10.815 THE LINEAR 23 1,227 Mar 6 1,059 May 13, 2009 579 590,000 83 6 9.8

Non-profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD

(YEARS)

1 SPOTTISWOODE 18 2 893 Mar 7 1,623 Jan 31, 2013 2,051 382,455 21 4 6.1

2 ONE TREE HILL RESIDENCE 10 1,130 Mar 11 2,115 May 5, 2007 2,400 322,000 12 1 11.93 LATITUDE 10 2,766 Mar 8 2,115 Aug 1, 2011 2,224 303,500 5 1 7.64 THE CREST 3 1,184 Mar 8 1,757 Jul 25, 2018 1,950 228,680 10 16 0.65 ROBINSON SUITES 1 484 Mar 7 2,643 Jan 3, 2011 2,909 129,000 9 1 8.26 D'LEEDON 10 785 Mar 8 1,756 Mar 4, 2013 1,857 79,530 5 1 6.07 SKYSUITES@ANSON 2 505 Mar 8 2,668 Jun 22, 2011 2,820 76,500 5 1 7.78 CENTRAL IMPERIAL 14 645 Mar 8 1,022 Dec 14, 2011 1,130 69,980 10 1 7.29 REGENT PARK 5 979 Mar 5 990 Sep 14, 2012 1,038 46,880 5 1 6.510 V ON SHENTON 1 473 Mar 7 2,369 Aug 23, 2012 2,443 35,000 3 0.5 6.511 THE SHORE RESIDENCES 15 893 Mar 7 1,455 Feb 1, 2011 1,483 24,800 2 0.2 8.112 ORCHID PARK CONDOMINIUM 27 958 Mar 8 778 Jun 5, 2012 789 11,000 1 0.2 6.813 REGENT HEIGHTS 23 1,023 Mar 5 753 Mar 15, 2012 763 10,000 1 0.2 7.014 WOODHAVEN 25 850 Mar 6 1,002 Aug 29, 2011 1,002 50 0.01 0.0008 7.5

GAINS & LOSSES

Enjoy the expansive views of the Bangkok skyline from your penthouse at The Monument Thong Lo with sizes up to 6,458 sq ft, 5m high ceilings and a private pool

SANSIRI

*SGD 1 = THB 23 Disclaimer: Exchange rate used is purely indicative. Actual exchange rate may differ on date of booking.

Scan here to visit project website & download e-brochure


| BY TIMOTHY TAY |

Condos in the Shenton Way, Tanjong Pagar and Spottiswoode Park neigh-bourhoods have seen a pick-up in transactions, especially in the week of March 5-12.

The most noticeable is at Wallich Residence at Tanjong Pagar Centre where four high-floor units were sold, of which caveats were lodged for three. Two of the transactions were for 614 sq ft, one-bedroom units: the one on the 51st floor fetched $2.38 million ($3,879 psf), and was the highest achieved for a one-bedder; while the oth-er was on the 43rd floor, and went for $2.15 mil-lion ($3,504 psf), according to URA Realis. The third unit transacted at Wallich Residence where a caveat was lodged is a 1,098 sq ft, three-bed-room unit that went for $3.53 million ($3,211 psf).

A fourth unit was also sold this month, but no caveat was lodged. It is a 1,313 sq ft, three-bedroom unit which fetched $4.15 million ($3,157 psf).

The buyers were said to comprise a wide spec-trum of nationalities: a Singaporean, a permanent resident, an American citizen and a Chinese na-tional. The 181-unit luxury residences span the 39th to 64th storeys – the top 25 floors of Sin-gapore’s tallest tower, which stands 290m tall.

Other transactions in the Tanjong Pagar neigh-bourhood included a 506 sq ft, one-bedroom unit at Skysuites@Anson that was sold for $1.35 million ($2,668 psf), and a 1,001 sq ft two-bed-der at the nearby Icon that changed hands for $1.67 million ($1,668 psf).

In the adjacent Spottiswoode Park area, a 797 sq ft, two-bedroom at Spottiswoode Residenc-es changed hands for $1.6 million ($2,009 psf), and the neighbouring Spottiswoode 18 saw an 893 sq ft, one-bedroom penthouse sold for $1.45 million ($1,623 psf).

Even The Beacon on Cantonment Road, a con-do completed 11 years ago, saw two units sold

in the first week of March: a 1,109 sq ft unit on the fifth floor and a 1,163 sq ft unit on the 13th floor that went for $1.5 million each.

Along Shenton Way, two units at V on Shen-ton also found buyers. One was a 474 sq ft, one-bedroom unit on the 33rd floor that was sold for $1.12 million ($2,369 psf), and the other was a 1,518 sq ft, four-bedroom unit that fetched $3.15 million ($2,075 psf).

Tang Wei Leng, managing director of Col-liers International, commented last year: “Ar-eas such as Shenton Way stand to benefit from the development of the Greater South-ern Waterfront.” These include buildings that sit on the fringe of Shenton Way and Tanjong Pagar. “They will find themselves directly at the doorstep of Singapore’s new premier wa-terfront destination,” she says.

The Greater Southern Waterfront is a 1,000ha site – 2.5 times the size of Marina Bay – that will be freed up following the relo-cation of the ports at Tanjong Pagar and Pasir Panjang to Tuas from 2025. The government plans to redevelop the land for new mixed-use developments. “This will also better op-timise and intensify the use of prime CBD land,” said National Development Minister Lawrence Wong, during this year’s Commit-tee of Supply debate on March 7.

Tanjong Pagar Centre has become “a key catalyst, leading the rejuvenation and transformation of the district”, says Dora Chng, general manager of residential at GuocoLand Singapore. GuocoLand is the de-veloper of Tanjong Pagar Centre, an integrated development that includes Wallich Residence.

“Soon, Tanjong Pagar will become the gate-way to the Greater Southern Waterfront,” says Chng. She sees Wallich Residence continu-ing to be “attractive to international proper-ty buyers” and expects sales to continue at a steady pace.

DONE DEALS

District 1 MARINA ONE RESIDENCES Apartment 99 years Mar 6 1,561 4,017,000 2,574 2017 New SalePEOPLE'S PARK COMPLEX Apartment 99 years Mar 7 1,119 928,000 829 1972 ResaleROBINSON SUITES Apartment Freehold Mar 7 484 1,280,000 2,643 2016 ResaleTHE CLIFT Apartment 99 years Mar 11 775 1,380,000 1,781 2011 ResaleV ON SHENTON Apartment 99 years Mar 7 474 1,122,000 2,369 2017 Sub SaleDistrict 2 SKYSUITES@ANSON Apartment 99 years Mar 8 506 1,350,000 2,668 2014 ResaleSPOTTISWOODE 18 Apartment Freehold Mar 7 893 1,450,000 1,623 2014 ResaleTHE BEACON Apartment 99 years Mar 6 1,109 1,500,000 1,353 2008 ResaleTHE BEACON Apartment 99 years Mar 7 1,163 1,500,000 1,290 2008 ResaleWALLICH RESIDENCE Apartment 99 years Mar 6 614 2,150,000 3,504 2017 ResaleWALLICH RESIDENCE Apartment 99 years Mar 8 614 2,380,000 3,879 2017 ResaleWALLICH RESIDENCE Apartment 99 years Mar 8 1,098 3,525,000 3,211 2017 Resale

Residential transactions with contracts dated March 5 to 12Singapore — by postal district LOCALITIES DISTRICTS

City & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

PROJECT PROPERTY TYPE TENURE SALE DATE

LAND AREA/FLOOR AREA

(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE

($ PSF) COMPLETION DATETYPE OF

SALE



(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE


SALE

District 3 ARTRA Apartment 99 years Mar 8 1,410 2,436,000 1,728 Uncompleted New SaleARTRA Apartment 99 years Mar 8 829 1,746,200 2,107 Uncompleted New SaleMERAPRIME Condominium 99 years Mar 8 1,313 2,050,000 1,561 2006 ResaleQUEENS Condominium 99 years Mar 7 1,410 1,820,000 1,291 2002 ResaleQUEENS Condominium 99 years Mar 8 1,195 1,540,500 1,289 2002 ResaleRIVER PLACE Condominium 99 years Mar 12 818 1,170,000 1,430 1999 ResaleSTIRLING RESIDENCES Apartment 99 years Mar 5 635 1,146,000 1,805 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Mar 5 689 1,205,000 1,749 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Mar 6 1,055 1,641,000 1,556 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Mar 9 786 1,386,000 1,764 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Mar 9 786 1,431,000 1,821 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Mar 10 980 1,561,000 1,594 Uncompleted New SaleTHE CREST Condominium 99 years Mar 5 1,195 2,408,000 2,015 2017 ResaleTHE CREST Condominium 99 years Mar 8 1,184 2,080,000 1,757 2017 ResaleTWIN REGENCY Condominium Freehold Mar 11 1,227 2,050,000 1,671 2007 ResaleDistrict 4 THE INTERLACE Condominium 99 years Mar 8 1,798 2,350,000 1,307 2013 ResaleDistrict 5 BLUE HORIZON Condominium 99 years Mar 5 958 965,000 1,007 2005 ResaleDOVER PARKVIEW Condominium 99 years Mar 8 936 1,008,000 1,076 1997 ResaleFABER CREST Condominium 99 years Mar 5 1,249 1,138,000 911 2001 ResaleKENT RIDGE HILL RESIDENCES Apartment 99 years Mar 5 646 970,000 1,502 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Mar 9 646 959,000 1,485 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Mar 10 646 1,133,000 1,754 Uncompleted New SaleREGENT PARK Condominium 99 years Mar 5 980 970,000 990 1997 ResaleTHE PARC CONDOMINIUM Condominium Freehold Mar 7 2,433 3,080,000 1,266 2010 ResaleTHE ROCHESTER RESIDENCES Apartment 99 years Mar 7 1,302 1,788,888 1,373 2011 ResaleVIVA VISTA Apartment Freehold Mar 7 344 550,000 1,597 2014 ResaleWESTMONT Semi-Detached Freehold Mar 8 3,046 2,268,000 745 2009 ResaleWHISTLER GRAND Apartment 99 years Mar 6 764 1,055,430 1,381 Uncompleted New SaleDistrict 7 SOUTH BEACH RESIDENCES Apartment 99 years Mar 5 2,099 7,386,500 3,519 2016 ResaleDistrict 9 8 SAINT THOMAS Condominium Freehold Mar 5 1,302 4,168,000 3,200 2018 Resale8 SAINT THOMAS Condominium Freehold Mar 8 441 1,400,000 3,172 2018 ResaleCASA CAIRNHILL Apartment Freehold Mar 11 1,539 2,680,000 1,741 1991 ResaleNIVEN ROAD Terrace Freehold Mar 5 1,249 3,200,000 2,563 Unknown ResaleORCHARD SCOTTS Condominium 99 years Mar 12 2,282 3,500,000 1,534 2007 ResalePARC SOPHIA Apartment Freehold Mar 5 624 1,018,000 1,631 2011 ResaleRIVERGATE Apartment Freehold Mar 11 2,077 4,700,000 2,262 2009 ResaleTHE TRILLIUM Condominium Freehold Mar 7 1,798 3,600,000 2,003 2010 Resale

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

Proximity to Greater Southern Waterfront spurs condo sales in Tanjong Pagar, Shenton Way

Four units have been sold at Wallich Residence at Tanjong Pagar so far this month, and have attracted buyers from China and AmericaE


Innovation ExcellenceAward

Sustainability ExcellenceAward

WHO WILL SHINE THIS YEAR?The Innovation Excellence Award recognises projects that not only display novelty,

but also adapt to new technology, making it relevant to the community. While the Sustainability Excellence Award is a recognition of developments that push the envelope to succeed in

construction productivity, safety advancements, energy efficiency and green initiatives.

These categories are open to both completed and uncompleted projects.

Supported by: In Partnership with:


Residential transactions with contracts dated March 5 to 12

EC stands for executive condominium

DISCLAIMER:Source: URA Realis. Updated Mar 19, 2019. The Edge Publishing Pte Ltd shall not be responsible for any loss or liability arising directlyor indirectly from the use of, or reliance on, the information provided therein. EC stands for executive condominium



(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE


SALE PROJECT PROPERTY TYPE TENURE SALE DATE


(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE


SALE

TWENTYONE ANGULLIA PARK Condominium Freehold Mar 5 3,122 10,600,000 3,396 2014 ResaleDistrict 10 3 CUSCADEN Apartment Freehold Mar 5 463 1,790,000 3,867 Uncompleted New Sale3 CUSCADEN Apartment Freehold Mar 6 463 1,648,000 3,561 Uncompleted New SaleARDMORE II Condominium Freehold Mar 6 2,024 5,950,000 2,940 2010 ResaleBOULEVARD 88 Apartment Freehold Mar 8 1,776 5,960,000 3,356 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 1,313 4,480,000 3,411 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 1,313 4,335,100 3,301 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 1,313 4,528,000 3,448 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 2,799 10,424,000 3,725 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 2,777 9,968,000 3,589 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 2,777 9,648,000 3,474 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 8 2,777 10,240,000 3,687 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 9 2,799 10,320,000 3,688 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 9 2,799 10,128,000 3,619 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 10 2,799 9,808,000 3,505 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Mar 10 2,777 9,728,000 3,503 Uncompleted New SaleCASA JERVOIS Apartment Freehold Mar 6 1,238 1,900,000 1,535 Unknown ResaleD'LEEDON Condominium 99 years Mar 7 1,184 1,880,000 1,588 2014 ResaleD'LEEDON Condominium 99 years Mar 8 786 1,380,000 1,756 2014 ResaleDORMER PARK Condominium Freehold Mar 6 2,347 3,650,000 1,555 1993 ResaleGALLOP GREEN Condominium Freehold Mar 5 4,402 7,930,000 1,801 2002 ResaleGLENTREES Condominium 999 years Mar 12 1,991 2,750,000 1,381 2005 ResaleLATITUDE Condominium Freehold Mar 8 2,766 5,850,000 2,115 2010 ResaleROBIN CLOSE Semi-Detached Freehold Mar 8 3,154 6,050,000 1,922 1989 ResaleJALAN TUPAI Semi-Detached Freehold Mar 11 2,164 6,158,888 2,841 1997 ResaleONE JERVOIS Condominium Freehold Mar 5 1,087 1,780,000 1,637 2009 ResaleONE TREE HILL RESIDENCE Apartment Freehold Mar 11 1,130 2,390,000 2,115 2008 ResaleTHE SIXTH AVENUE RESIDENCES Condominium Freehold Mar 5 1,356 2,320,000 1,711 2009 ResaleWATERFALL GARDENS Condominium Freehold Mar 6 1,830 3,150,000 1,721 2010 ResaleDistrict 11 HILLCREST VILLA Terrace 99 years Mar 7 3,089 3,030,000 981 2009 ResaleMONARCHY APARTMENTS Apartment Freehold Mar 5 1,216 1,270,000 1,044 1997 ResaleCHANCERY LANE Detached Freehold Mar 12 9,774 13,100,000 1,340 1985 ResaleSUFFOLK PREMIER Apartment Freehold Mar 5 1,001 1,390,000 1,389 2007 ResaleTHOMSON 800 Condominium Freehold Mar 8 1,399 1,700,000 1,215 1999 ResaleDistrict 12 1953 Apartment Freehold Mar 9 441 868,000 1,967 Uncompleted New Sale1953 Apartment Freehold Mar 9 786 1,534,000 1,952 Uncompleted New Sale1953 Apartment Freehold Mar 9 786 1,528,000 1,945 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,209,000 1,971 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,203,000 1,961 Uncompleted New Sale1953 Apartment Freehold Mar 9 506 958,000 1,894 Uncompleted New Sale1953 Apartment Freehold Mar 9 570 1,058,000 1,855 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,143,000 1,863 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,138,000 1,855 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,150,000 1,874 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,150,000 1,874 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,140,000 1,858 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,145,000 1,866 Uncompleted New Sale1953 Apartment Freehold Mar 9 936 1,598,000 1,706 Uncompleted New Sale1953 Apartment Freehold Mar 9 614 1,140,000 1,858 Uncompleted New Sale1953 Apartment Freehold Mar 9 786 1,460,000 1,858 Uncompleted New Sale1953 Apartment Freehold Mar 10 614 1,145,000 1,866 Uncompleted New Sale1953 Apartment Freehold Mar 10 570 1,048,000 1,837 Uncompleted New Sale1953 Apartment Freehold Mar 10 614 1,140,000 1,858 Uncompleted New SaleEIGHT RIVERSUITES Condominium 99 years Mar 5 936 1,260,000 1,345 2016 ResaleGEM RESIDENCES Condominium 99 years Mar 7 1,313 1,928,000 1,468 Uncompleted New SaleJUI RESIDENCES Apartment Freehold Mar 10 700 1,288,000 1,841 Uncompleted New SaleSCENIC HEIGHTS Apartment Freehold Mar 5 915 1,020,000 1,115 2005 ResaleTREVISTA Condominium 99 years Mar 7 1,270 1,770,000 1,394 2011 ResaleDistrict 13 BLOSSOMS @ WOODLEIGH Condominium Freehold Mar 11 1,206 1,665,000 1,381 2007 ResaleONE LEICESTER Condominium Freehold Mar 7 1,378 1,880,000 1,365 2008 ResalePARK COLONIAL Condominium 99 years Mar 5 1,066 2,015,000 1,891 Uncompleted New SalePARK COLONIAL Condominium 99 years Mar 7 936 1,593,000 1,701 Uncompleted New SalePARK COLONIAL Condominium 99 years Mar 8 980 1,818,000 1,856 Uncompleted New SalePARK COLONIAL Condominium 99 years Mar 9 667 954,000 1,429 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 700 1,119,000 1,599 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 700 1,137,000 1,625 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 646 995,000 1,541 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 646 1,036,000 1,604 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 743 1,225,000 1,649 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 5 743 1,231,000 1,657 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 7 700 1,119,000 1,599 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 7 495 780,000 1,575 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 7 743 1,237,000 1,666 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 7 506 862,000 1,704 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 8 689 1,088,000 1,579 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 700 1,149,000 1,642 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 1,098 1,741,000 1,586 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 646 995,000 1,541 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 495 741,000 1,497 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 700 1,170,000 1,672 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 624 1,025,000 1,642 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 624 1,025,000 1,642 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 9 624 1,010,112 1,618 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 689 1,166,000 1,693 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 1,335 2,098,000 1,572 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 1,098 1,731,000 1,577 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 753 1,151,000 1,528 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 1,098 1,764,000 1,607 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 700 1,155,000 1,651 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 689 1,070,000 1,553 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 689 1,166,000 1,693 Uncompleted New SaleTHE TRE VER Condominium 99 years Mar 10 743 1,195,000 1,609 Uncompleted New SaleWOLSKEL LODGE Terrace Freehold Mar 5 2,390 1,750,000 732 1997 ResaleDistrict 14 ARENA RESIDENCES Apartment Freehold Mar 9 893 1,569,000 1,756 Uncompleted New SaleCASA SARINA Condominium Freehold Mar 8 1,259 1,300,000 1,032 1998 ResaleCENTRAL IMPERIAL Apartment Freehold Mar 8 646 660,000 1,022 2014 ResaleEUHABITAT Condominium 99 years Mar 7 506 666,000 1,316 2015 ResalePARC ESTA Apartment 99 years Mar 5 420 751,000 1,789 Uncompleted New SalePARC ESTA Apartment 99 years Mar 6 915 1,473,000 1,610 Uncompleted New SalePARC ESTA Apartment 99 years Mar 9 904 1,477,000 1,634 Uncompleted New SalePARC ESTA Apartment 99 years Mar 9 420 768,000 1,829 Uncompleted New SalePARC ESTA Apartment 99 years Mar 9 420 736,000 1,753 Uncompleted New SalePARC ESTA Apartment 99 years Mar 10 614 1,058,000 1,724 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years Mar 6 1,087 1,967,000 1,809 Uncompleted New SaleREZI 35 Apartment Freehold Mar 5 840 1,180,000 1,405 Uncompleted New SaleDistrict 15 AMBER SKYE Apartment Freehold Mar 11 1,216 2,570,000 2,113 2017 ResaleGALAXY TOWERS Apartment Freehold Mar 7 1,066 1,200,000 1,126 1989 ResaleLAVERNE'S LOFT Apartment Freehold Mar 8 398 576,000 1,446 2013 Resale

NYON Apartment Freehold Mar 5 818 1,928,000 2,357 Uncompleted New SaleONE @ PULASAN Apartment Freehold Mar 5 1,130 1,200,000 1,062 2009 ResaleONE MEYER Apartment Freehold Mar 9 1,033 2,670,000 2,584 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 1,033 2,583,000 2,500 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 926 2,458,000 2,655 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 614 1,705,000 2,779 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 614 1,646,000 2,683 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 614 1,602,000 2,611 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 614 1,590,000 2,591 Uncompleted New SaleONE MEYER Apartment Freehold Mar 9 614 1,725,000 2,812 Uncompleted New SalePEBBLE BAY Condominium 99 years Mar 5 2,766 4,670,000 1,688 1997 ResaleRADIX Apartment Freehold Mar 7 1,991 2,000,000 1,004 2006 ResaleSEASIDE RESIDENCES Apartment 99 years Mar 10 678 1,286,290 1,897 Uncompleted New SaleSILVERSEA Condominium 99 years Mar 11 1,572 2,850,000 1,814 2014 ResaleTHE RAMFORD Apartment Freehold Mar 7 1,528 2,246,000 1,469 Uncompleted New SaleTHE SHORE RESIDENCES Condominium 103 years Mar 7 893 1,300,000 1,455 2014 ResaleDistrict 16 BAYWATER Condominium 99 years Mar 12 1,292 1,380,000 1,068 2006 ResaleDistrict 17 LOYANG VALLEY Condominium 99 years Mar 11 1,582 1,100,000 695 1985 ResaleTHE JOVELL Condominium 99 years Mar 9 527 711,000 1,348 Uncompleted New SaleDistrict 18 DOUBLE BAY RESIDENCES Condominium 99 years Mar 11 1,313 1,425,000 1,085 2012 ResaleSAVANNAH CONDOPARK Condominium 99 years Mar 11 1,227 1,048,000 854 2005 ResaleTHE PALETTE Condominium 99 years Mar 5 893 930,000 1,041 2015 ResaleTHE TAPESTRY Condominium 99 years Mar 10 441 665,020 1,507 Uncompleted New SaleTROPICAL SPRING Condominium 99 years Mar 6 1,335 1,170,000 877 2002 ResaleDistrict 19 AFFINITY AT SERANGOON Apartment 99 years Mar 5 904 1,363,000 1,507 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Mar 9 732 1,102,000 1,506 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Mar 9 646 903,000 1,398 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Mar 10 646 913,000 1,414 Uncompleted New SaleESPARINA RESIDENCES EC 99 years Mar 6 1,001 1,085,000 1,084 2013 ResaleESPARINA RESIDENCES EC 99 years Mar 11 829 930,000 1,122 2013 ResaleGOLDEN HEIGHTS Apartment Freehold Mar 6 1,679 1,730,000 1,030 2003 ResaleKENSINGTON PARK CONDOMINIUM Condominium 999 years Mar 11 1,658 2,000,000 1,207 1990 ResaleSIRAT ROAD Terrace 999 years Mar 6 1,927 3,750,000 1,946 Unknown ResaleRIVERCOVE RESIDENCES EC 99 years Mar 7 1,163 1,113,100 957 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 5 463 649,000 1,402 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 5 517 696,000 1,347 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 5 732 931,000 1,272 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 6 463 652,000 1,409 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 8 915 1,223,000 1,337 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 9 463 639,000 1,381 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Mar 9 463 638,000 1,378 Uncompleted New SaleTERRASSE Condominium 99 years Mar 7 1,453 1,588,000 1,093 2014 ResaleTHE FLORENCE RESIDENCES Apartment 99 years Mar 5 753 1,018,000 1,351 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Mar 8 1,001 1,385,000 1,384 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Mar 9 700 1,024,000 1,464 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Mar 10 1,001 1,379,000 1,378 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Mar 5 517 742,200 1,437 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Mar 6 667 960,000 1,438 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Mar 9 452 710,000 1,570 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Mar 9 452 706,000 1,562 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Mar 9 614 981,900 1,600 Uncompleted New SaleWATERTOWN Apartment 99 years Mar 8 527 725,000 1,375 2017 Sub SaleDistrict 20 BISHAN POINT Condominium 99 years Mar 8 1,270 1,400,000 1,102 2005 ResaleFLAME TREE PARK Condominium Freehold Mar 12 1,862 2,300,000 1,235 1989 ResaleJADESCAPE Condominium 99 years Mar 6 764 1,272,800 1,665 Uncompleted New SaleJADESCAPE Condominium 99 years Mar 10 1,012 1,708,500 1,689 Uncompleted New SaleLAKEVIEW ESTATE Apartment 99 years Mar 6 1,615 1,400,000 867 1977 ResaleSEMBAWANG HILLS ESTATE Terrace Freehold Mar 12 1,496 2,638,000 1,758 Unknown ResaleSKY HABITAT Condominium 99 years Mar 7 1,216 1,900,000 1,562 2015 ResaleDistrict 21 GREENRIDGE Terrace Freehold Mar 8 1,830 2,730,000 1,491 1987 ResaleMAYFAIR GARDENS Condominium 99 years Mar 6 570 1,125,000 1,972 Uncompleted New SaleMAYFAIR GARDENS Condominium 99 years Mar 6 506 1,020,000 2,016 Uncompleted New SaleENG KONG PLACE Terrace Freehold Mar 7 2,820 3,500,000 1,240 Unknown ResaleTHE RAINTREE Condominium 99 years Mar 7 1,432 1,500,000 1,048 2008 ResaleVISTA GARDEN Terrace Freehold Mar 7 1,679 2,350,000 1,400 1975 ResaleDistrict 22 CASPIAN Condominium 99 years Mar 5 1,399 1,600,000 1,143 2012 ResaleJ GATEWAY Condominium 99 years Mar 8 474 850,000 1,795 2016 ResaleTHE LAKEFRONT RESIDENCES Condominium 99 years Mar 8 2,099 1,950,000 929 2014 ResaleYUNNAN GARDENS Terrace Freehold Mar 5 3,649 2,750,000 753 2000 ResaleDistrict 23 BUKIT 828 Apartment Freehold Mar 5 980 1,566,000 1,599 Uncompleted New SaleHILLVIEW REGENCY Condominium 99 years Mar 6 1,109 888,000 801 2005 ResaleHILLVIEW VILLAS Terrace Freehold Mar 11 2,971 3,330,000 1,121 1992 ResalePALM GARDENS Condominium 99 years Mar 8 1,216 900,000 740 2000 ResaleREGENT HEIGHTS Condominium 99 years Mar 5 1,023 770,000 753 1999 ResaleTHE HILLIER Apartment 99 years Mar 12 840 1,248,000 1,486 2016 ResaleTHE LINEAR Apartment 999 years Mar 6 1,227 1,300,000 1,059 2006 ResaleDistrict 25 WOODHAVEN Condominium 99 years Mar 6 850 852,000 1,002 2015 ResaleWOODSVALE EC 99 years Mar 7 1,313 832,000 634 2000 ResaleDistrict 26 MEADOWS @ PEIRCE Condominium Freehold Mar 8 1,195 1,390,000 1,163 2012 ResaleMENG SUAN ROAD Semi-Detached 999 years Mar 8 3,972 4,000,000 1,006 1996 ResaleTHE ESSENCE Apartment 99 years Mar 8 818 1,100,000 1,345 Uncompleted New SaleDistrict 27 ORCHID PARK CONDOMINIUM Condominium 99 years Mar 8 958 745,000 778 1994 ResaleSTRAITS GARDENS Terrace Freehold Mar 11 1,615 2,210,000 1,369 2005 ResaleTHE CANOPY EC 99 years Mar 6 872 740,000 849 2014 ResaleDistrict 28 PARC BOTANNIA Condominium 99 years Mar 5 667 914,000 1,370 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 5 872 1,119,380 1,284 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 5 969 1,257,120 1,298 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 5 1,033 1,217,000 1,178 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 5 1,507 1,713,020 1,137 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 6 506 705,000 1,394 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 7 861 1,078,640 1,253 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 8 861 1,122,290 1,303 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 10 786 1,010,000 1,285 Uncompleted New SalePARC BOTANNIA Condominium 99 years Mar 10 592 874,000 1,476 Uncompleted New SaleSUNRISE GARDENS Condominium 99 years Mar 5 1,475 1,150,000 780 1998 Resale

DONE DEALS


PROPERTY PERSONALISED

The latest round of cooling measures in 2018 has completely shifted the mood in the property scene. Despite this, developers continue to launch new projects at record pace and buyers continue to flock to show galleries on weekends. What gives? Who and where are the buyers? Have buyers’ preference shifted over the years? Are there still opportunities, either locally or internationally? Join our panel of experts and have all your burning questions answered.

11 April 2019, Thursday6.30pm - 9.00pm

(Registration starts at 6pm)

Marina One AuditoriumMarina One West Tower,

9 Straits View, Level 3, Singapore 018937

EARLY BIRD TICKETS18 Mar - 4 Apr

25$Single

30$2-to-go

Refreshments & wine included�

Scan the QR code to reserve your seat.

Hurry! seats are limited.

� +65 9855 5282

� http://edgepr.link/360apr19

Registration, Dinner & Wine

Home-Buyer Sentiment: What Do People Prefer?Dr Lee Nai Jia Senior Director & Head, Research, Knight Frank Singapore

After the cooling measures, sales have declined. What do buyers prefer?

Where, When and How to UpgradeMarcus Chu COO, ERA Realty Network Pte Ltd

Despite global uncertainties, Singapore’s economy is expected to maintain its growth at 1.5 to 3.5 per cent in 2019. Do you wait and see? If not, what should you look out for in your next property investment? In this session, Marcus will be sharing with us all the latest insights to upgrading your property in 2019.

Where are the Pockets of Opportunity?Regina LimHead of Research, SEA, JLL Singapore

As a market leader in international residential, JLL has vast experience in identifying up and coming trends and first-class smart investments. Regina Lim, Head of Research, Capital Markets SEA will share insights on 3 capital cities of which we believe to represent the most interesting growth opportunities today. Break Panel DiscussionDr. Boaz BoonFormer Head of Research at CapitaLand, Founder & Principal of THRED and Director of Vestasia

Panelists include: Dr Lee Nai Jia, Marcus Chu & Regina Lim

End of Seminar

18:00

18:40

19:10

19:40

20:10

20:25

21:00

Programme Outline


psf, based on caveats lodged with URA Rea-lis in the three months from December 2006 to February 2007.

There were very few inner-city apartments in the CBD and Marina Bay then, recalls Ng. There were only the 646-unit Icon at Tanjong Pagar (completed in 2007), the 312-unit The Clift on McCallum Street (completed in 2011), and the 265-unit Emerald Garden at Club Street that was completed in 1998.

At Marina Bay, the 1,111-unit The Sail was the first residential development to be launched in late 2004 and was completed in 2008. It was followed by the 428-unit Marina Bay Residenc-es that was launched in December 2006 and sold out within three days.

Ng had therefore retained the remaining 43 units on the top 10 floors at Lumiere for investment.

Divestment, focus on industrial and carsSince 2011, his property investment focus has shifted towards the industrial sector in 2011. He had purchased a freehold site of 455,000 sq ft on Jalan Liam Huat, off Kranji Road, and has developed it into an industrial complex of more

than 2.3 million sq ft, named Carros Centre. “I’m focused on the car business now,” he says.

His company already has 500 cars for lease, and he intends to increase the fleet to 2,000 by end of the year. He has also recently acquired 60% of Alpine Group, which owns Alpine Car Rentals, Alpine Motors (the dealership for Chev-rolet cars) and Auto Germany, the sole distrib-utor of Opal cars.

In February, Ng’s Carros Project Management

Pte Ltd purchased the neighbouring industrial site in a JTC land tender with a bid of $5.1 mil-lion. The 0.77ha site has a 20-year lease and a plot ratio of 2.5. Ng intends to turn it into an extension of his car-related business at Carros Centre next door. “I’m making this into a hub for automobiles – a one-stop shop for car leasing, repairs, car parts and after-sale service,” he says.

As such, Ng feels it is time to divest his portfolio of units at Lumiere and invest further into indus-

trial property catering to the automobile industry. Lighthouse’s Eyo is confident that Hmlet@

Lumiere will attract potential buyers. He sees interest from the likes of high-net-worth indi-viduals, family offices, private equity players and property funds.

“With a co-living operator like Hmlet in place, landlords need not have to wor-ry about finding tenants for the individual units,” says Eyo.

PROP HUNT CLASSIFIEDS

Scan QR code for more details

Properties for Sale To be featured, email [email protected] or call 8822-2997

$1,600,000Hume Park IID21 HUME AVENUE | FreeholdSize(sqft): 1,356 | PSF: $1,180Bedroom: 3

Next to future Hume Park MRT station to be open in 2025. 3 bedroom+maid, 1356 sqf Freehold. Full condo facilities. Spacious living & dining. Enbloc potential.

Alan Wee ERA REALTY NETWORK PTE LTDR024730A

65 9297 3150

Alan Wee ERA REALTY NETWORK PTE LTDR024730A

65 9297 3150

Ng: I always thought a co-living or serviced apartment concept will work

Eyo: With a co-living operator like Hmlet in place, landlords need not have to worry about finding tenants for the individual units

Schmickrath: The addition of 60 beds at Lumiere will bring Hmlet's portfolio to 1,000 beds by early June

SPOTLIGHT

E

$3,300,000Corner Terrace HouseD23 PAVILLION VIEW | FreeholdBuilt-up(sqft): 2,900 (est) | Land(sqft): 2,153 (est)PSF: $1,533

Renovated corner terrace house for sale. Freehold. 4 bedrooms+maid. 4 ensuite baths. Spacious roof terrace. Ready to move in. Sell vacant.

$4,500,000Semi Detached HouseD19 FLORENCE ROAD | 999 yearsBuilt-Up(sqft): 2,500 | Land(sqft): 4,333PSF: $1,039

Rare Semi-D on sale, Kovan's Jewel, Park 4 Car, Reno or Rebuilt. Proposed ID prepared for you, Spacious living, value price, future MRT, Motivated Seller. House you will be proud of. Don't miss this! Call Sole Agent 9169-7684 Matt.

$6,480,000Corner Terrace HouseD10 ROBIN ROAD | FreeholdBuilt-Up(sqft): 3,000 | Land(sqft): 2,739PSF: $2,366

A beautiful & cozy corner terrace house within short walking distance to Stevens MRT & other key amenities; close to many prestigious schools. It features a northerly facing garden & outside patio. Rooms are spacious & bright with natural light. 4 bedrooms & 3 bathrooms.

Kent Yunandar SAVILLS RESIDENTIAL PTE LTD R060434A

65 9235 6777

FROM PAGE EP7

$10,800,000Detached HouseD4 SENTOSA COVE | 99 yearsBuilt-Up(sqft): 8,300 | Land(sqft): 7,043PSF: $1,533

2.5 storey corner Modern Bungalow, 5 ensuites with high quality fittings overlooking 100m unblocked waterway for a 50ft yacht. Also Starbuy brand new 4 storey homes 6 ensuites with lift & basement available at 19xxpsf. ID option available. Huge discount for limited period

Rowena Chan LIST INTERNATIONAL REALTY PTE LTDR051926C

65 9038 3166

$22,000,000Detached HouseD10 GALLOP PARK ROAD | FreeholdBuilt-Up(sqft): 6,000 | Land(sqft): 14,800PSF: $1,486

RARE Gallop Park bungalow, huge land size. Elevated 2 storey corner home. Large car porch, swimming pool and outhouse. Potential to build dream home in this prestigious district. Mins drive to Orchard Road. Located within 1km of Nanyang Primary School

Elaine TanSAVILLS RESIDENTIAL PTE LTD R051086Z

65 9367 2242

$5,500,000Goodwood Residence D10 BUKIT TIMAH ROAD | FreeholdSize(sqft): 1,950 | PSF: $2,821Bedroom: 3

Condo in heart of D10. Mins walk to Newton Mrt. Close to Orchard belt & Prestigious schools. Spacious & well maintained with full facilities. Good choice for living/ investment. Good rental yield. Contact now in advance for exclusive viewing

Sheela K SAVILLS RESIDENTIAL PTE LTD R051936J

65 9007 8445

$6,500,000Gramercy ParkD10 GRANGE ROAD | FreeholdSize(sqft): 2,067 | PSF: $3,145Bedroom: 3

Condo with full facilities on Grange road. Beautiful view of pools & greenery from bedrooms. Award winning concierge services, expats favorite! Good profile of residents. Wise choice for own stay or far investment. Contact now for exclusive viewing.

Sheela K SAVILLS RESIDENTIAL PTE LTD R051936J

65 9007 8445

Matt ChiangSAVILLS RESIDENTIAL PTE LTD R032242G

65 9169 7684

PIC

TURE

S: A

LBER

T C

HUA

/ED

GEP

ROP

SIN

GAP

ORE

habitap: one app to rule them all week of... · the development has four penthous-es priced at $30...

Documents