CBRE: Improving Parc Clematis previews Core Collective ... · Botanique at Bartley which obtained...

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Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of August 19, 2019 | ISSUE 895-117

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

Reinventing Soilbuild GroupLim Han Qin, representing the next generation at the helm

of the company, talks about how the business has diversified

and entered new markets in recent years.

Turn to our Cover Story on Pages 8 & 9.

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Soilbuild Group’s headquarters and Prefab Innovation Hub at Defu South Street 1

Industry InsightsCBRE: Improving

workplace experience platforms ep4

New Launch Parc Clematis previews

at prices from $1,550 psf ep5

Co-Working Core Collective opens

in Dempsey Hill ep6

Market TrendsSingapore retail rents

remain weak in 1H2019 ep15

Lim Han QinDirector of Soilbuild Group Holdings

EP2 • EDGEPROP | AUGUST 19, 2019

PROPERTY BRIEFS

EDITORIALeditor | Cecilia Chowdeputy editor | Amy Tansenior writers | Charlene ChinTimothy Taywriter | Bong Xin Yinghead, 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 Limaccount director | Ivy Hong deputy account director |Janice Zhuaccount manager |Pang Kai Xinregional business development manager | Cole Tanhead of marketing & branding |Rachel Lim Shuling

CIRCULATION manager | Ashikin Kaderexecutive | Malliga Muthusamy

CORPORATE chief executive officer | Bernard Tong

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

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Good Class Bungalow at White House Park for sale from $75 mil A Good Class Bungalow (GCB) at White House Park, sitting on a land of 35,290 sq ft, is up for sale at an asking price of $75 million to $80 million ($2,125 psf to $2,267 psf).

White House Park, in District 10, Bukit Timah, is one of the 39 gazet-ted GCB areas in Singapore.

The property for sale spans two storeys, and is possibly the highest point in the locality, according to ex-clusive marketing agent JLL. Once it is redeveloped, the owner can enjoy commanding views of lush green-ery, it says.

The regular-shaped plot has a front-age of 54 metres. The land can be sub-divided into two GCB parcels, each with a generous frontage, JLL says.

The tender will close on Sept 20, at 2.30pm.

Kampong Bahru Road shophouses for sale from $39.6 mil A row of six freehold conservation shophouses on Kampong Bahru Road are up for sale from $39.6 million, or $6.6 million per unit.

The property for sale comprises 69, 71, 73, 75, 77 and 79 Kampong Bahru Road. It has a total land area of 7,068 sq ft, and total gross floor area (GFA) of 17,600 sq ft. It is zoned for com-mercial use under URA’s 2014 Master Plan and is within the Blair Plain Con-servation Area.

The property is within walking dis-tance to Outram Park MRT Station and the upcoming Cantonment MRT Sta-tion. The new Kampong Bahru bus ter-

minal is located just across from the property. It is also within a 10-minute drive from the CBD.

The property is marketed by JLL and Tuscany Realty.

The expression of interest exercise closes on Sept 12 at 3pm.

Braddell View estate up for collective sale again at $2.08 bil Braddell View, the largest of the 18 HUDC estates in Singapore, is up for collective sale again at an unchanged reserve price of $2.08 billion.

The estate was first put up for col-lective sale on March 27, but the ten-der closed on May 28 without any bids.

After factoring the 7% bonus bal-cony gross floor area (GFA), the esti-mated differential premium, and the lease top-up to a fresh 99 years, the

price translates to a land rate of ap-proximately $1,159 psf per plot ratio.

Braddell View comprises 918 units of apartments, maisonettes, and pent-houses, as well as two shops. The siz-es of residential units range between 1,453 sq ft and 3,369 sq ft. It sits on a 1.14 million sq ft hilltop site over-looking MacRitchie Reservoir Park.

Under the 2014 Master Plan, the Braddell View site is zoned for resi-dential use with a gross plot ratio of 2.1 and has a proposed total GFA of about 2.4 million sq ft. Colliers esti-mates 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-application feasibility study.

The tender will close on Sept 25 at 3pm. — Compiled by Charlene Chin

CDL sells $1.55 bil residential units in Singapore in 1H2019City Developments (CDL) saw its earn-ings fall 26.4% to $162.4 million for the 2Q2019 ended June, from $220.7 million a year ago.

2Q2019 revenue dropped 37.5% to $850.4 million, from $1.36 billion in the corresponding quarter last year.

This was primarily attributable to lower contribution from the property development segment due to timing of profit recognition for development projects. CDL notes that the segment tends to be lumpy since profits from some projects cannot be recognised pro-gressively but only upon completion.

In 2Q2019, revenue was largely rec-ognised from The Tapestry, Gramercy Park, Hongqiao Royal Lake, Whistler Grand and Suzhou Hong Leong City Center (HLCC).

As at end-June, cash and cash equiv-alents stood at $2.96 billion.

“US-China trade tensions contin-ue to severely dampen market senti-ments globally. Until a deal is struck between the world’s two largest econ-omies, global markets will continue to succumb to trade jitters. Many econo-mies, including Singapore, will be se-riously affected by the escalating dis-pute,” says Kwek Leng Beng, executive chairman of CDL.

Meanwhile, CDL group CEO Sher-

man Kwek says the group is focusing on its strategy of Growth, Enhance-ment and Transformation.

“By creating strong value proposi-tions and timing our launches strategi-cally, we have achieved healthy sales for our residential projects in Singa-pore. At the same time, we have further diversified overseas through transfor-mational initiatives such as our part-nership with Sincere to expand CDL’s presence in China and achieve sustain-able growth there,” he says.

In Singapore, CDL sold 505 residen-tial units (including executive condo-miniums or ECs) with total sales at $1.55 billion in 1H2019.

Of CDL’s developments, Boulevard 88, a luxury 154-unit freehold condo along Orchard Boulevard, has seen 69 units sold to date since its launch in March 2019. This includes all four of its penthouses. The average selling price achieved is over $3,800 psf.

Amber Park, a freehold 592-unit de-velopment in the East Coast, has sold 166 units to date, at an average sell-ing price of over $2,450 psf.

New Futura, a 124-unit freehold development at Leonie Hill Road, is 100% sold, achieving an average sell-ing price of over $3,500 psf.

The 190-unit South Beach Residenc-es, atop the Marriott Hotel Singapore South Beach, is 50% sold to date, at an average selling price of $3,400 psf.

At West Coast Vale, the 716-unit Whistler Grand is now more than 50% sold, at an average selling price of over $1,350 psf.

The Tapestry, a 861-unit condomin-ium at Tampines Avenue 10, has seen 644 units sold at an average selling price of over $1,340 psf.

In China, CDL and its joint-venture associates sold 347 residential units in 1H2019, hitting total sales of RMB1.08 billion ($213 million).

CDL has also invested RMB5.5 billion

($1.1 billion) in Sincere Property Group, a real estate developer in China, in re-turn for 24% of equity stake in the Chi-nese firm, which will be completed by 4Q2019. The move provides CDL access to a landback of 1,356 sq ft gross floor area (GFA) across 70 development pro-jects. It also expands CDL’s asset classes in China to include business parks and serviced apartments, and broadens its geographical presence from three to 20 cities in China.

CDL will also increase its stake in Phase 2 of Shanghai Hongqiao Sin-cere Centre, from 70% to 100%, for RMB1.75 billion. Spread across 11 blocks, this prime commercial proper-ty has a GFA of 384,691 sq ft compris-ing office, serviced apartments and a retail component.

In Japan, CDL is acquiring a 34-unit freehold residential project, named Horie Lux, in Osaka City for JPY2.01 billion ($26 million). The property is in Nishi-ku, central Osaka, and in prox-imity to four train stations. The group is targeting the property at the Osaka rental market, and will provide an en-try net yield of 4.5% per annum.

In Australia, CDL is acquiring a port-folio of three prime freehold mixed de-velopment projects in Brisbane and Mel-bourne for A$25.9 million (S$24 million). The three projects are in various stages of planning and have the potential to yield over 600 residential units and 51,667 sq ft of commercial/retail space.

In 4Q2019, CDL plans to launch the 680-unit Sengkang Grand Residences in Singapore. The mixed-use integrat-ed development will be connected to Buangkok MRT Station and a new bus interchange. Sengkang Grand is a joint venture development with Capitaland.

UOL Group sees 48% jump in 2Q2019 earnings to $195.4 milUOL Group recorded a 48% jump in 2Q2019 earnings to $195.4 million,

compared to $131.9 million in 2Q2018. This brings 1H2019 earnings to $267.7 million, 29% higher than $207.2 mil-lion in 1H2018.

Revenue for 2Q2019 was 20% low-er at $512.3 million from $637.9 mil-lion a year ago, mainly due to low-er progressive recognition of revenue from the development projects, Princi-pal Garden, The Clement Canopy and Botanique at Bartley which obtained TOP in December 2018, March and April respectively.

Hotel operations also recorded a 3% decline mainly from lower occu-pancies and room rates at Marina Man-darin and ParkRoyal Darling Harbour and ongoing refurbishments at Park-Royal on Kitchener Road.

This was partially offset by high-er revenue contribution from proper-ty investments, mainly UIC Building and newly acquired 72 Christie Street in Sydney; higher revenue contribution from the management services and technologies segment; and increase in dividend income from quoted invest-ments in UOB and Haw Par.

As at end-June, cash and cash equiv-alents stood at $609.4 million.

Liam Wee Sin, group CEO of UOL, says, “In the first half of 2019, the take-up for new projects was 6% higher than the preceding year notwithstanding the cooling measures introduced on July 6, 2018. We see resilience in the mar-ket and potentially further upside for selected projects with strong location and product attributes.”

“Riding on the strong sales of Am-ber45 and The Tre Ver, both of which are about 80% sold, we are targeting to launch our Avenue South Residence by the end of this month. The 56-storey project is next to the exciting Greater Southern Waterfront, an extension of our city and a gateway to future live, work and play,” adds Liam.

Avenue South Residence will have

JLL COLLIERS INTERNATIONALJLL

CDL

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The GCB at White House Park sits on a land of 35,290 sq ft Braddell View comprises 918 units of apartments, maison-ettes, and penthouses, as well as two shops

The six freehold conservation shophouses on Kampong Bahru Road have a total land area of 7,068 sq ft

New Futura, a 124-unit freehold develop-ment at Leonie Hill Road, is 100% sold

EDGEPROP | AUGUST 19, 2019 • EP3

PROPERTY BRIEFS

twin 56-storey towers with a total of 1,074 res-idential units and 13,993 sq ft of commercial space. At this height, the project is regarded as one of the tallest condo projects in Singa-pore. The project will be developed jointly by UOL, United Industrial Corporation (UIC) and Kheng Leong Co in a 50:30:20 split.

On the outlook for the residential property market, UOL expects prices for new private homes to remain relatively stable despite the economic slowdown in Singapore.

Metro’s 1Q earnings down 47.5% to $10.6 mil on higher costs, lower JV contributions Metro Holdings reported 1Q2020 earnings almost halved to $10.6 million, compared to $20.2 million in 1Q2019. The fall in earnings was mainly due to finance costs increasing by about 600% to $4.5 million from $0.7 million a year ago, as well as a 55.3% fall in share of joint ventures’ results to $7.3 million.

The increase in finance costs was mainly due to interest expense of $3.8 million on the notes issued by the company pursuant to its $1 billion multicurrency debt issuance pro-gramme, while the fall in share of joint ven-tures’ results was mainly attributable to loss-es incurred from The Crest, Singapore, and absence of $2.3 million gain from the sale of Acero Works, an office building in Sheffield, the UK, recognised in 1Q2019.

Revenue for the quarter saw an 85.4% jump to $55.9 million from $30.2 million a year ago, as the property division recognised revenue of $27.2 million from the sale of property rights of the residential development properties in Bekasi and Bintaro, Jakarta. The retail divi-sion reported lower sales.

Consequently, cost of revenue increased 74.6% to $51.7 million, which led to a gross profit of $4.2 million in 1Q2020 compared to $0.7 million in 1Q2019.

As at June 30, Metro’s cash and cash equiv-alents stood at $286.2 million.

Looking ahead, Metro says the group’s portfolio of investments, held at fair value through profit or loss, will continue to be subject to fluctuations in their fair value. The group therefore will continue to be sub-jected to significant currency translation ad-justments on foreign operations which will affect the results and other comprehensive in-come and the balance sheet, as a major por-tion of its net assets which mainly represent investment properties and projects situated in China, are denominated in the renminbi

and Hong Kong dollar. Some of the group’s net assets are also denominated in the Brit-ish pound and Indonesian rupiah.

Occupancy at Metro’s recently acquired 50% stake in two Grade-A office towers, 7 and 9 Tampines Grande, remains at 90.6%. Metro expects the property to benefit from an increasing demand in the decentralised office market with its location in Tampines Regional Centre.

The group’s property division is anticipat-ed to continue receiving recurring rental in-come from its GIE Tower in Guangzhou and Metro City and Metro Tower in Shanghai. Leasing activities are also underway for the group’s office buildings in Bay Valley, New Jiangwan City, Yangpu District in Shanghai. Meanwhile, asset enhancement works for Metro’s joint venture in Shanghai Plaza are progressing on schedule.

In Indonesia, construction and sales of the residential projects in Bekasi and Binta-ro in Jakarta which commenced in late 2017 and March 2018, respectively, are ongoing.

In the UK, Manchester residential pric-es are expected to grow by around 3% over the next five years, according to JLL’s North-ern England Residential Forecasts 2019. This supports Metro’s Middlewood Locks develop-ment project. The first phase of construction for the 571 apartment units was completed in October last year, with units being handed over in stages. Construction for phase two is currently ongoing.

“The Metro Group will continuously ex-ercise astute judgement in capital recycling and look for attractive investment opportuni-ties,” says Metro’s chairman Winston Choo.

Meanwhile, the retail division continues to operate amid difficult trading conditions.

Koh Brothers’ 1H2019 net profit up 8% y-o-y to $2.4 mil Construction and property development firm Koh Brothers recorded a net profit of $2.4 mil-lion in 1H2019, which is an 8% growth from $2.2 million in 1H2018.

This was mainly due to a $4.5 million in-crease in shares resulting from its associated companies and joint ventures to $9.7 million in 1H2019, which stemmed from profit from its 45%-owned, maiden mixed-use develop-ment project, Nonhyeon I PARK, located in the prime Gangnam district of South Korea, and a fair value gain from an investment prop-erty in Singapore.

The group also saw a 17% decrease in

administrative expenses as a result of low-er staff costs.

In 1H2019, revenue rose by 6% to $161.3 million from $152.8 million in 1H2018 due to higher revenue from its construction and building materials division. Gross profit fell by 10% to $8.9 million in 1H2019 from $9.9 million in 1H2018 due to lower margins.

Cash and bank balances remained healthy at $52.5 million, while shareholders’ equity stood at $298.8 million as at June 30. The group’s debt servicing ability with liquidity is at a current ratio of 2.1 times and a net gear-ing ratio of 0.98 time as at June 30.

Moving forward, Koh Brothers plans to launch its wholly owned Toho mansion and its 20%-owned joint venture sites, Hollandia and Estoril, for sale. All three sites are free-hold and in Holland Village.

Overseas, Koh Brothers’ Nonhyeon I PARK project in South Korea has sold 97% of its units to date.

“The well-received Nonhyeon I PARK pro-ject in South Korea continues to contribute healthy profit from units sold, while our con-struction arm has continued its momentum to clinch a large-scale project from PUB that has lifted our construction book to almost $1 billion,” said Francis Koh, managing director and group CEO of Koh Brothers.

Last month, Koh Brothers won the $668.2 million PUB contract to construct pumping sta-tions at Tuas Water Reclamation Plant. This has lifted the group’s construction order book to $984.7 million, from $566.4 million, as at June 30, 2019. The project has commenced and is slated to complete in 2025.

Koh Brothers’ other public projects include Circle Line 6-related works (from Prince Ed-ward Station to Marina Bay Station); the de-sign and construction of Phase 2 of the Deep Tunnel Sewerage System; and the Woodlands Health Campus project awarded by the Minis-try of Health, a first in the Woodlands vicinity.

Frasers Property reports 68% rise in 3Q earnings to $334 mil Frasers Property reported 3Q2019 earnings of $333.9 million, up 68.2% from a year ago on higher fair value change and exceptional items.

Gross profit for 3Q2019 fell 27.3% to $298.1 million from a year ago as revenue fell 53.1% to $638.8 million while cost of sales fell a steeper 64.2% to $349.7 million.

Revenue and PBIT from Singapore resi-dential properties fell by $559 million and $70 million to $2 million and $10 million,

respectively. Frasers Property says the de-cline was mainly due to fewer settlements in Parc Life Executive Condo (EC) and the absence of profit contributions from North Park Residences following its TOP last Octo-ber and full revenue recognition in 1Q end-ed December 2018.

Revenue and PBIT from Singapore com-mercial properties increased by $12 million and $58 million to $131 million and $139 mil-lion. Excluding the group’s share of fair value change of joint ventures and associates, PBIT grew by $31 million to $112 million.

These increases were mainly attributed to maiden contributions from the newly ac-quired PGIM Real Estate Asia Retail Fund (PGIM ARF), full quarter’s contributions from Frasers Tower following the start of operations in May 2018 and higher occupancies at the south wing of Northpoint City.

Revenue and PBIT from Australia decreased by 29% and 47% to $204 million and $38 mil-lion. Frasers Logistics and Industrial Trust re-ported higher revenue and PBIT by $8 mil-lion and $11 million to $57 million and $38 million, respectively.

Including other losses of $4.5 million and 16.3% higher administrative expenses of $110.3 million, trading profit came in 42.3% lower at $183.3 million.

Profit before fair value change, taxation and exceptional items fell 42.3% to $166.8 million.

However, share of results of JVs and as-sociates more than doubled to $85.5 million and there was a fair value change on invest-ment properties of $263 million compared to $39.9 million a year ago while exception-al items grew to $16.1 million compared to $0.97 million.

In its outlook, Frasers Property says it will continue to manage and grow its business-es and asset portfolio in a prudent manner across geographies and business segments.

Frasers Property Singapore previewed the 99-year leasehold Rivière on the former Zouk site on Jiak Kim Street in June 2019. Accord-ing to Frasers Property, 32 units were sold during the preview.

Meanwhile, around 90% of the 841-unit Seaside Residences along Siglap Link were sold as at end-June.

On the retail front, Frasers Property says it will “explore opportunities to collaborate and share experiences to enhance its mall of-ferings and better serve its communities”. — The Edge Singapore, with additional report-ing by Charlene Chin

FRASERS PROPERTYUOL

Frasers Property Singapore previewed the 99-year leasehold Rivière in June 2019Avenue South Residence is developed jointly by UOL, United Industrial Corporation (UIC) and Kheng Leong Co

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INDUSTRY INSIGHTS

| BY SHOBHIT CHOUBEY |

The conversation around workplace chang-es has become somewhat passé. Across the globe, much has been written about a radical shift in the design and interpre-tation of the workplace. Equally, digital-

ly driven solutions have made office flexibility a bigger reality. The rise of internationally em-braced concepts like co-working, activity-based working and open-plan offices has created what is being referred to in some circles as the work-place’s “Uber moment”. These are all reason-able dicussions, which is not a negative thing, but the time has come to dig a little deeper.

Progress of this nature is clearly a sign of the times – a reflection of shifting demographics; a window into evolving corporate cultures, and the “mainstreaming” of flatter workplace hier-archies and practices. We, as an industry, fully embrace this dialogue.

However, one area that we find needs more discussion and debate is the human element in this new workplace. And this is where we find the development of next-generation employee experience platforms will bridge the gap be-tween humans and technology, workplace and experience, convenience and employee-centric requirements.

The human element of service delivery Providers of digital-tenant platforms have made considerable progress, but have never fully addressed how to connect said platforms with the human experience, within and out-side the bounds of the workplace. True, recent years have seen the development of employ-ee experience platforms in response to grow-ing employee demand for technology-driven, hospitality-infused and inspiring workplaces.

While there now exists a wide range of dig-ital platforms featuring technology capable of enhancing employee experience to some degree, many do not effectively leverage data to identi-fy problem areas or proactively deliver the fea-tures and services end-users require. The com-mon denominator here is the human element of service delivery, which has been neglected.

So wherein lies the answer? In our view, the next-generation workplace experience platforms must combine technology with advanced data strategies as a first step. They must provide best-in-class hospitality services to create a truly transformative and employee-centric workplace experience. And, perhaps most poignantly, op-erate through an understanding that technolo-gy alone cannot create a truly effective and em-ployee-centric workplace experience.

The immediate answer lies in the marriage of data with human experience. Specifically, data analysis and people services are emerg-ing as key differentiators for employee engage-ment platforms. Why is this the case? Simple:

the rise and increasing demand for proactive, rather than reactive, services and more per-sonalised user experiences. Let’s unpack this a little further.

Leveraging dataData and its collection are a divisive topic, and one of the larger cultural conversations at the centre of this new omni-tech age. True, within the workplace sphere, most workplace engage-ment platforms collect vast amounts of data. However, on the flip side, they are not equipped with the requisite expertise or algorithms to analyse it, making them incapable of provid-ing actionable insights into workplace teams.

Change, though, is here. And data is being used far more effectively to improve the expe-rience of the end-user, the employee. In our observations, the most advanced employee en-gagement platforms are now capturing a vari-ety of functional workplace information. Data is identifying how users are utilising the office on a day-to-day basis. It is pinpointing the fea-tures and amenities they prefer and the trans-actions they conduct. More recently, data is leading the charge in terms of how platforms and their users can identify areas for improve-ment and implement employee-centric change.

On a practical level, data from scheduling systems, motion sensors, in-app user behaviour and learned preferences can provide consider-able insight into how employees collaborate or spend their time in the office.

From a convenience and scheduling perspec-tive, it can also enable workplace teams to as-certain whether large spaces are being occupied by individuals; which rooms are rarely occu-pied; and whether there are certain spaces that are chronic service request generators. Pretty simple, but core to improving some measure of employee experience by putting the human at the centre of the outcome.

More recently, the Internet of Things (IoT) system has emerged on tenant experience plat-forms. When viewed through the lens of the workplace, the IoT system has human inter-ests and experiences at its heart.

For example, data collected by IoT sensors and space management software can also pro-vide a wealth of information related to space optimisation and occupancy analytics. After this data is captured, processed and analysed by workplace teams, occupiers can accurately gauge space, seat and room utilisation. It can even calculate and advise on the average size and duration of meetings; and entry and exit statistics.

People servicesThese insights can be used to help occupiers and landlords improve utilisation by chang-ing the role and function of that space or add-ing new features to make it more attractive to users. But once again, it is the end-user that will reap the most benefits. This comes to the changing demands on the way we work and employee expectations of this process.

Across the Asia-Pacific and the globe, em-ployees are increasingly demanding to work in a way that suits them. This is where data works for them. Data can be directed at creating per-sonalised working experiences for individual employees – in other words, people services.

Many platforms overlook the importance of genuine human interaction, particularly regard-ing service delivery. For instance, consumers have come to expect great in-person customer experiences in shops, restaurants and hotels. So why not the workplace?

This shift is occurring. The same consumer and hospitality experiences are increasingly be-

ing demanded by the workplace by the same in-dividuals craving the people-centric experience. In parallel to life outside of the office, employ-ees expect the simplicity and ease of these ex-periences to be accessible to them at any time through technology, even while working.

With this backdrop, CBRE believes that for employee experience technologies to be truly effective, they must be integrated with people services. How is this accomplished? By posi-tioning well-trained and knowledgeable expe-rience professionals on site, who are available to handle enquiries and requests made through the application and to support employees over the course of their working day.

As a result, the experience teams can make informed decisions when curating experiences and events through captured data on user be-haviour, feedback and preferences. Combined with a technology mindset for the human ex-perience, a data-driven and curated experience can significantly increase employee engagement.

On the flip side, technology can be a dou-ble-edged sword when implanted through a workplace experience lens. For example, one of the more common misappropriations that or-ganisations make is buying platforms that focus primarily on technology features and neglect en-hancements to the service delivery capability of workplace managers within the workplace. However, when used correctly, smart technol-ogy tools help workplace managers to enhance moments that matter in the experience journey and proactively resolve pain points to deliver hospitality-focused experience in the workplace.

A configurable platformAs a provider of tenant experience, CBRE takes the role of technology, data and people seri-ously. CBRE’s latest technology-based, hu-man-focused employee experience platform, Host, blends people, training and technology to create an employee-centric workplace expe-rience. Host integrates technology and end-us-er experience features on a single platform.

This enables employees to access their work-place needs from a single app, and organisations to administer building management require-ments from a single and customisable platform. Host, which can be tailored to specific client re-quirements, features a mobile experience that allows users to navigate the workplace, sched-ule meetings with colleagues, reserve work-spaces, use F&B services, and access building and concierge services.

We like to think of it as the extension of a brand – a configurable platform that allows cli-ents to personalise the look and feel of the work-place. The app is also mindful of the unique aspects of space, culture and values of users, ensuring, for example, that through machine learning, space needs are met sustainably and efficiently for building operators.

As the workplace evolves, it will only succeed with the buy-in of the most important currency: the people. Platforms can be technology-sound, innovative and highly analytical, but without a clear connection to the needs, demands and functionality of an evolving employee base, they miss the mark. One must not forget that at the core of any change is behaviour. And that be-haviour is human-led. Next-generation tenant platforms must correlate with that reality to take this important step in the broader work-place evolution.

Shobhit Choubey is the APAC lead, Host, at CBRE.

Why workplace experience platforms need the human element

CBRE’s new office in San Francisco

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Host is CBRE’s latest technology-based, human-focused employee experience platform

PICTURES: CBRE


NEW LAUNCH

| BY BONG XIN YING |

Named after the Clematis aristata, a flower associated with ingenuity and artistry, Parc Clematis by Sin-ghaiyi Group will open for public preview on Aug 17.

Sitting on a 99-year leasehold site spanning 633,639 sq ft, the 1,468-unit development is Singhaiyi’s largest project to date. It is located on the former Park West site at Jalan Lempeng and will be the first mega private residential launch in Clementi in 3½ years. About 30% of the units, or 440 units, will be released for sale at the project’s launch on Aug 31.

“Parc Clematis is an inventive residential project built on the fundamental premise of community living, weaving together residents, homes and well-thought spaces to facilitate a unique, kindred lifestyle community,” says Celine Tang, group managing director of Sin-gHaiyi. The project is marketed by Huttons Asia, OrangeTee & Tie, PropNex Realty and ERA Realty Network.

The development is the third in its “flower series” of new residential projects launched

this year. The first two were The Gazania and The Lilium, located in the How Sun area - which were launched simultaneously in May.

Variety of unitsTo cater to various homebuyers’ needs, Parc Clematis will feature a total of 64 layout con-figurations.

Unit sizes range from 452 sq ft for a one-bed-room unit, to 2,669 sq ft for a five-bedroom penthouse unit. The strata terrace units start from 2,659 sq ft and the bungalow units are 3,832 sq ft each.

Prices start from about $1,550 psf for a one-bedroom unit, $1,540 psf for a two-bed-room unit, and $1,530 psf for a three-bed-room unit.

Community spiritParc Clematis has dedicated over 400,000 sq ft, or 80% of the site, to recreational spaces and communal facilities. To promote commu-nal living and provide an extension of living space for residents, there are themed dining pavilions such as the Chef’s Kitchen, the Wok It Dining Pavilion and the Teppanyaki Pavil-

ion. These are all fitted with communal culi-nary equipment and furnishing.

Other facilities include study/work lounges, clubhouses, multi-purpose entertainment and game rooms, thematic playgrounds including an inclusive playground, as well as a laundry pavilion with large, self-service washing ma-chines and dryers.

Residents can enjoy a free shuttle bus ser-vice to the nearby MRT stations for one year, and at a subsidised rate from the second to fifth year.

“We are confident that Parc Clematis will attract strong interest from both homeowners and investors alike, given its stellar location, extensive list of communal facilities, and en-gaging concept,” says Tang.

Close to amenitiesParc Clematis is within walking distance to The Clementi Mall, where the Clementi Bus Interchange and Clementi MRT Station on the East West Line are situated. The development is also close to major expressways such as Ayer Rajah Expressway, Pan Island Express-way and Bukit Timah Expressway.

The project is a six-minute walk from Nan Hua Primary School, a four-minute drive to NUS High School of Mathematics and Sci-ence, and a 10-minute drive to Anglo-Chi-nese Junior College and the National Univer-sity of Singapore. Business gateways, such as the one-north R&D park, and the Jurong Lake District, are also nearby. West Coast Pla-za, JEM, JCube, and Westgate mall are just a six-minute drive away.

Given these attributes, property consult-ants expect to see keen interest for the pro-ject. “We’ve received good response on the ground since we started doing roadshows [for Parc Clematis] because of its location,” says Ismail Gafoor, CEO of PropNex Realty.

According to him, potential buyers are mainly drawn to the project’s proximity to Clementi MRT Station, schools, and busi-ness parks. As such, he expects owner-oc-cupiers and HDB upgraders to make up the bulk of buyers. “Clementi has also tradition-ally been attractive to investors because of its location,” he adds.

Eugene Lim, key executive officer of ERA, also expects the project to appeal to existing residents in the vicinity. He observes that there has been interest from the children of residents who are living in the private landed estate at Faber Avenue or in the non-landed private homes nearby. This group of buyers is looking to buy a home close to their parents.

Both Gafoor and Lim highlight that the project’s starting price of $1,550 psf for a one-bedroom unit is also a key selling point. “Mass-market condos in the outlying areas command well above $1,400-1,500 psf,” says Gafoor. “Parc Clematis is appealing in that it offers different layouts [catering to] every family and, at this price point, it is really at-tractive in today’s market.”

Lim agrees: “Nearby, recent transactions for an older completed project, The Trilinq, are above $1,600 psf.” Developed by IOI Group, the 99-year leasehold The Trilinq was com-pleted in 2017 and comprises 755 units.

Parc Clematis previews at prices from $1,550 psf

Located on the former Park West site at Jalan Lempeng, the 1,468-unit Parc Clematis will be the first mega private residential launch in Clementi in 3½ years

EThe living and dining area of a four-bedroom show unitTo cater to various homebuyers’ needs, Parc Clematis will feature a total of 64 layout configurations

PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE


CO-WORKING


On July 12, Core Collective soft-launched its second location at 27A and 30B/C Loewen Road in Dempsey Hill.

Operating on a concept similar to co-working, Core Collective fo-

cuses on creating spaces for fitness and well-ness professionals to collaborate and deliver their services to clients without committing to long-term leases.

“This location caters to a very different mar-ket from Core Collective Anson,” observes Mi-chelle Yong, founder of Core Collective and direc-

tor of property development firm Aurum Land, a subsidiary of construction giant, Woh Hup.

At Anson Road, Core Collective’s flagship mainly caters to office workers in the CBD area, while at Dempsey, families are its main clients. As such, she does not see its Dempsey outlet as a replica of what the brand has done at Anson.

She shares that her family was her source of inspiration for the Dempsey space. They want-ed to have a Core Collective closer to home so they didn’t need to travel to the CBD, says Yong. This way, they could attend a pilates or aerial yoga class, their children could partici-

pate in the children’s classes and their spous-es could work out at the gym with a personal trainer, she explains.

One-stop lifestyle destinationDrawing from this idea, Core Collective Dempsey was conceived as a one-stop lifestyle and well-ness destination. The site where it is located once housed the Museum of Contemporary Arts. The site was later launched for tender by the Singapore Land Authority (SLA) in May last year. Aurum Land, of which Core Collective is a subsidiary, was awarded the tender after a successful bid rent of $24,800 per month.

“I do keep an eye on the SLA tenders,” says Yong. “SLA flagged the site to us [as] they thought that our concept would be a really good fit.”

While Core Collective Dempsey is situated at a tranquil corner, the space is abuzz with laugh-ter from the children who are having swimming classes at the pool and upbeat music in the main hall that comprises the gym and rest area.

On the same floor, apart from treatment rooms for chiropractors and osteopaths, there is a reformer pilates studio. A highlight of this outlet is a studio fitted with aerial hoops and aerial silks. There, clients can attend yoga class-es with instructors from Yoga Lab or learn aerial

Core Collective opens in Dempsey Hill

The site where Core Collective Dempsey is located once housed the Museum of Contemporary Arts

PICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

Core Collective Dempsey has some 100,000 sq ft of outdoor space that can be used for sports and activities In addition to lifestyle and wellness facilities, Core Collective Dempsey has a Baker & Cook outlet


CO-WORKING

yoga with Aerial Fitness Studio, Core Collec-tive Dempsey’s latest partner.

Given the studio’s high ceiling, Core Col-lective’s partners are able to offer a range of classes and not just standard yoga. “A lot more tricks and drops [can be done, making it] really exciting,” she says.

On the second floor, there is a studio for barre workouts, in partnership with Barre Lab. A room has also been designed for dedicated play therapy with a focus on children’s well-ness. Yong reveals that talks are currently ongo-ing for three play therapists to collaborate there.

Adjacent to the space are a nursing room and a separate staff lounge for partners to take a break. Yong is considering offering a mani-cure and pedicure service there.

‘Tanjong Beach Club in the city’With all these features, Core Collective Dempsey has attracted a host of new partners including the Institute of Functional Neuroscience with its first clinic location in Singapore; All That Jazz Dance Academy, targeted at children; The Movement Factory which organises outdoor bootcamps for corporates, spartan training for children, and personal training; Bodytree Pi-lates and Centre Stage School of the Arts of-fering drama classes.

Apart from these, Swish Swimming has part-nered Core Collective to offer classes at the pool. Kristen Romain, founder of Swish Swimming, observes that Core Collective Dempsey is “like this breath of fresh air in Singapore”.

Prior to offering classes at Core Collective,

Swish has been conducting classes at another pool at 72 Loewen Road. When Yong approached Swish to hold classes at Core Collective’s pool, Romain thought it was a “no-brainer” as it is close to its existing location.

Romain says that on some evenings, her students get to enjoy a view of the sunset from the pool. “Our clients are really happy to be here,” she adds. According to her, what her clients enjoy the most is the mix of life-style and fitness options at Core Collective Dempsey. Parents would drop their children off for swimming classes while they attend their own fitness classes at Core Collective or have a meal at Baker & Cook.

In conceiving Core Collective Dempsey, Yong made space for a pool there. “I wanted a ‘Tanjong Beach Club in the city’ kind of feel,” she says.

To be sure, Core Collective Dempsey has the opportunity for further development. The land it sits on spans 140,000 sq ft, inclusive of the new Baker & Cook restaurant. Yong es-timates that it has some 100,000 sq ft of ad-ditional outdoor space that can be used for sports and activities.

A permanent obstacle course, a bio pond for children to fish at, and a purpose-built outdoor parkour park are among the ideas Yong has for the unutilised space. “We could do so much more, that’s why it’s so excit-ing,” she says.

Co-working and co-wellnessApart from Core Collective, Yong is co-CEO of co-working operator Found8. The brand is the

result of a merger between local co-working operators, Found and Collision 8. Yong was the founder of Collision 8. Following the merg-er earlier this year, Found8 has five locations in Singapore and is about to open its sixth on Aug 22 in Kuala Lumpur (KL), Malaysia. For its first overseas venture, Found8 is partner-ing Malaysian Resources Corp Bhd, the mas-ter developer of the KL Sentral transport hub and business district.

“They fell in love with Core Collective when they came to visit Found8 [in Singa-pore],” says Yong. “They love the concept, and so they have been asking us to open Core Collective there.”

For now, Yong is in no hurry to expand Core Collective into KL as she wants to fo-cus on getting the Dempsey outlet off on the right foot first. “Most likely in the next year or two, we will have opened one in KL,” she shares.

When it comes to expansion, Yong highlights that it is her intention to bring both Found8 and Core Collective together overseas. “[We could] even have a co-living aspect. A lot of developers are asking us whether we can do all three,” she says.

Found8 has over 1,000 members across its six locations and a network of 22,000 inno-vation-centric individuals. There is a range of membership options starting from $390 per month.

Meanwhile, Core Collective has a curated community of over 70 professionals offering their services, and membership prices start

from $18 per standard class, $100 for a person-al training session, and $65 for a chiropractic consultation. For fitness and wellness profes-sionals, in-class support services and facilities start from $500 per month.

Franchise modelYong’s plan is to open Core Collective in five countries over the next three years, with two locations in each country. Apart from Singa-pore, the markets she has identified include Malaysia, Australia and India.

“Found8 is also interested in those markets [so] it makes sense for both businesses [to be there],” she explains. Found8 is likely to open one branch in India in 2Q2020.

Yong has no further plans to expand in Sin-gapore. “The intention is to grow internation-ally [and] regionally, and not [just] in Singa-pore, because we already have five locations, which we think is strong enough presence and coverage,” she adds.

She is also seeking advice from Enterprise Singapore to develop a franchise model for Core Collective, as she believes this model is “the most optimal way to really scale the business quickly”.

Yong may have big plans for Core Collec-tive, but she still makes time to relax and keep fit at the new Dempsey space, which is within proximity to her current abode at Balmoral. “Core Collective Dempsey is my ‘me-space’, and that’s quite fortunate. I get to have my workouts and see my chiroprac-tor here,” she says.

Yong states that thanks to the studio’s high ceiling, Core Collective’s partners are able to offer a range of classes and not just standard yoga

Kristen Romain of Swish Swimming says what her clients enjoy the most about Core Collective Dempsey is the mix of lifestyle and fitness options it offers. Swish Swimming is one of Core Collective’s partners at its Dempsey branch.

Like co-working operators, Core Collective focuses on creating spaces for fitness and wellness professionals to collaborate and deliver their services to clients without committing to long-term leases

Apart from treatment rooms for chiropractors and osteopaths, there is a reformer pilates studio at Core Collective Dempsey

E



COVER STORY

| BY CECILIA CHOW |

Soilbuild Group Holdings’ new headquar-ters at Defu South Street 1 features dou-ble-glazed glass walls to cut off the noise from the nearby Paya Lebar Airbase. Nine fish-tank-style meeting rooms overlook

a central landscaped courtyard. There are also a boardroom and a training room.

The office pantry designed as an open kitch-en with a long countertop and bar stools on ei-ther side has become a popular gathering place for staff to socialise. Other amenities include a well-equipped gym, shower room, steam room and nursing room.

A lot of attention was paid to “doing up the office nicely”, says Lim Han Qin, director of Soilbuild Group Holdings. “These days, young people place a lot of value on a beautiful of-fice.” A staff welfare committee was set up to organise activities, for instance, exercise class-es at the start of the week to beat the Monday blues and quarterly staff buffet dinners.

Unlike Soilbuild’s headquarters and Prefab Innovation Hub, the entire area around it is still very much a construction site. Like all pioneers in a frontier location, being the first had its own logistical challenges. “When we first moved in last year, Grab cars didn’t even come here; you couldn’t find the address on Google Maps; and food options were limited,” says Han Qin. To counter that, Soilbuild provides regular shuttle service for staff to go out for lunch and to the nearest MRT station.

Soilbuild had purchased the 219,708.3 sq ft, 30-year leasehold site at Defu South Street 1 in September 2015 for $23.89 million. The site is designated by Building & Construction Author-ity (BCA) as part of the Integrated Construc-

tion and Prefabricated Hub that caters for the production of prefabricated construction com-ponents, such as precast columns and beams, prefabricated bathroom units (PBUs), modular prefabricated mechanical, electrical and plumb-ing (MEP) systems, and prefabricated prefin-ished volumetric construction (PPVC).

In addition to land cost, Soilbuild spent an-other $50 million on highly automated equip-ment for the precast plant, an administrative office and a dormitory for 1,000 workers. All in, the entire complex is estimated to have cost close to $100 million, according to Han Qin.

EVOLUTIONThe new headquarters signifies the evolution of Soilbuild Group in recent years as it invests in automation and new technology for its con-struction business, ventures further beyond Singapore’s shores and makes forays into new asset classes.

It also heralded the entry of a new genera-tion of Lims at the forefront of Soilbuild Group Holdings: Han Qin, 32, who came on board in 2016; and his elder brother, Han Feng, 33, who joined the firm as a director in 2014.

Their youngest brother Han Ren, 27, is work-ing as an analyst at a private equity firm. “He just graduated over a year ago,” says Han Qin. “We will let him decide whether he wants to join the company. However, every now and then, I will ask him what his plans are.”

They are the sons of Soilbuild Group Hold-ings’ chairman, Lim Chap Huat, who co-found-ed the firm as a construction outfit in 1976. It is not just Lim’s sons; his wife, Leo Jee Lin, is also part of the business. Having joined Soil-build in 1984, she is the head of marketing and leasing division.

“My mum retired for a while as she was looking after my younger brother’s child,” ex-plains Han Qin. “Now that her grandchild is attending school full-time, we asked her if she could return as we would benefit from her vast experience.”

Over the years, Lim, now 65 years old, grew the business and diversified into property de-velopment – from houses and condos to in-dustrial buildings and business space. He has since bought out the shares of the other two co-founders. Lim listed Soilbuild Group Hold-ings on the Singapore Exchange in 2005, but privatised it in 2010.

Lim subsequently listed Soilbuild Construc-tion Group in 2013 where he is both executive chairman and CEO; and spun off Soilbuild

Business Space REIT in 2014. He is still a sub-stantial shareholder of both listed entities: he holds 74.61% of the shares in Soilbuild Con-struction, which had a market capitalisation of $50.5 million at six cents a share; and 9.87% of the shares in Soilbuild Business Space REIT, with a market capitalisation of $623.2 million and share price of 58.5 cents as at Aug 13, ac-cording to Bloomberg.

Both the listed companies – Soilbuild Busi-ness Space REIT and Soilbuild Construction Group – have their own management teams and operate independently, emphasises Han Qin.

GROWING UPRanked among Singapore’s 50 richest by Forbes last year, Lim is reported to have a net worth


Lim Han Qin, representing the next generation at the helm of the company,talks about how the business has diversified and entered new markets in recent years

Reinventing Soilbuild Group

Han Qin: We want to be diversified – by sector and geography. Hence, you see overseas exposure in both resi-dential and industrial space

The central landscaped courtyard on the top floor of Soilbuild Group’s new headquarters


COVER STORY

of $895 million. As the third of seven children and the eldest son of a trishaw driver and wash-erwoman, Lim has certainly come a long way.

According to Han Qin, from the time he was in primary school – “about Primary 3” – family outings on weekends had been visits to construction sites and sales galleries, includ-ing other developers’ showflats. “It sparked my interest in property,” he says.

After graduating from the National Univer-sity of Singapore with a law degree, Han Qin spent three years in the corporate mergers & acquisitions department of Allen & Gledhill. “I thought I was going to stay only a year, but I ended up staying on for more than three years because the work was interesting,” he says.

His father allowed them to pursue their own interests. “He didn’t tell us what to study,” says Han Qin. While he read law, his two brothers’ interests were in the financial sector. However, Han Qin felt compelled to “come and help” at Soilbuild as it is, after all, the family business.

In Soilbuild Group, Han Qin focuses on the property development business in Singapore, Myanmar and Vietnam.

In the pipeline for launch is Verticus, a 162-unit, freehold condo development on Jalan Ke-maman, off Balestier Road. The new project sits on the site of the former Kemaman Point which Soilbuild Group purchased en bloc for $143.88 million in June last year. Based on the plot ra-tio of 2.8 and maximum gross floor area (GFA) of about 122,711 sq ft, the land price translates to $1,173 psf per plot ratio.

REVISITING BALESTIERSoilbuild Group is no stranger to Balestier, hav-ing developed five other projects there in the past: the latest was The Mezzo, a mixed strata-titled commercial and residential development, which was launched in 2009 and completed in 2012. The others were The Centrio and Monte-bleu, both launched in 2007, with the former completed in 2009 and the latter in 2010. Pin-nacle 16 was launched in 2003 and completed

in 2006, while Mandale Heights was launched in 2001 and completed in 2004.

“I guess we have an affinity for Balestier,” says Han Qin. “I remember when I was young-er, we used to visit the construction sites in Balestier with my parents as we had five pro-jects there over a short span of time. We like the area because of its city-fringe location, ac-cessibility, rich heritage and vibrancy, with a lot of good food.”

Kemaman Point’s location is also attractive as it is just behind Balestier Plaza and near two other malls, namely Shaw Plaza and Zhongshan Mall at Zhongshan Park, which has a Fairprice supermarket and eateries such as the recent-ly opened New Ubin Seafood restaurant and Starker Bistro. The Balestier area has also be-come a “hipster neighbourhood” with cafes such as Wheeler’s Yard and Brown Sugar Cafe Bistro, says Han Qin.

The purchase of Kemaman Point came one month before the ninth round of property cool-ing measures kicked in on July 6, 2018. “In a way, that attested to our strategy of not putting too many eggs in one basket,” says Han Qin. “Even though we didn’t undertake many resi-dential projects in Singapore over the past dec-ade, we had residential developments in Myan-mar and Vietnam.”

IN MYANMAR AND VIETNAMSoilbuild Group’s maiden residential develop-ment in Myanmar was the 176-unit Rosehill Res-idences, developed in 2015 in a 60:40 joint ven-ture with its local partner in Myanmar.

Soilbuild Construction in Myanmar is under-taking the construction of Rosehill Residences, its maiden construction project there. The con-struction arm entered Myanmar in 2012 and started with 15 people. Today, it has a staff of about 60, adds Han Qin.

In December 2017, Soilbuild Group made its first foray into Vietnam in a joint venture with a local partner, CT Group, to develop a mixed-use residential and commercial retail project in Dis-

trict 9 of Ho Chi Minh City. The project, Metro Star, sits on a 197,385 sq ft site and will have two 30-storey towers containing 1,600 apart-ments. The project is under construction and scheduled for completion in 2Q2021.

District 9 is where the existing Saigon Hi-Tech Park is located, and there are plans underway for a new scientific and technological park mod-elled after Silicon Valley in the US. Metro Star is well situated to benefit from future growth and “property price upside” in the area, says Han Qin. The first phase has already been launched and 25% of the project has been sold to date.

In April 2018, Soilbuild Group signed two more MOUs with CT Group. One is for the de-velopment of I-Town Affordable Housing Town-ship in Ho Chi Minh City with an estimated de-velopment value of US$350 million. The other is for the development and implementation of its prefabrication technology and PPVC sys-tems in Vietnam.

FOCUS ON RESIDENTIAL AND INDUSTRIAL DEVELOPMENTSIn Singapore, Soilbuild Group purchased an old bungalow sitting on a 16,028 sq ft, freehold site on Wilkinson Road for $19.28 million in 2015. The site has been redeveloped into two detached houses sitting on freehold site of 8,021 sq ft each.

Each house has a built-up area of 15,300 sq ft, and comes with six bedrooms, an 11m swim-ming pool and covered parking for up to five cars. Both houses are fully fitted with kitchen cabinetry and appliances, air-conditioning units, bathroom accessories and sanitaryware, as well as home security system with CCTV. They have since been sold.

“Residential development is something that is close to our hearts,” says Han Qin. Howev-er, the group has allocated more capital into industrial developments over the past decade. He adds: “We want to be diversified – by sec-tor and geography. Hence, even overseas, we are in the residential and industrial as well as business space.”

Soilbuild Group has five industrial projects in Singapore currently. Its latest purchase was an industrial land parcel on Gambas Way which it won with a bid of $40.02 million in June this year. Last October, the group also purchased an industrial site on Corporation Road for $44.09 million. Both sites were pur-chased on a 30-year lease from JTC in gov-ernment land tenders.

The group also won two industrial sites in Tuas last year: a site on a 20-year lease at Tuas South Link 3 for $2.63 million in January; and an industrial site on a 30-year lease for $28.85 million. They also purchased a site on New In-dustrial Road in a private treaty.

NEW OVERSEAS MARKETSA new market segment that Soilbuild Group entered recently is purpose-built student ac-commodation in the UK, with the purchase of Innovo House in Liverpool’s Knowledge Quarter in March this year. The site, which broke ground in May, has been approved for a 124-unit student housing scheme, with the development “forward funded” by Soil-build Group.

The plan is to build a sizeable portfolio of student accommodation in the UK, says Han Qin. The business is headed by his elder broth-er Han Feng, who is actively looking for more opportunities in the sector. In addition to that, he is overseeing the family office.

Last September, Soilbuild Business Space REIT made its maiden overseas acquisitions with two properties in Australia: a centrally-lo-cated office building in Canberra for A$55 mil-lion; and a poultry processing plant in Adelaide, South Australia for A$44 million.

As the group is small, it is important to “stay nimble, respond swiftly to market changes and to redeploy capital across various asset classes”, says Han Qin. “I think we have shown that in the last 10 years: From residential, we switched to industrial space and we did very well. And now, we have expanded regionally.”

ALBERT CHUA/EDGEPROP SINGAPORE

SOILBUILD GROUP

KNIGHT FRANK

SOILBUILD GROUP

The precast plant makes reinforcement bars and concrete panels, as well as assembles prefabricated bathroom units

The two detached houses on Wilkinson Road are a redevelopment of a former bungalow sitting on a 16,028 sq ft site purchased by Soilbuild Group in 2015. The two houses have since been sold.

Soilbuild Group will be launching the new 162-unit Verticus on the site of the former Kemaman Point (pictured) that it purchased en bloc for $143.88 million in June last year

Eightrium, an eight-storey business park development in Changi Business Park, was developed by Soilbuild Group and is now part of Soilbuild Business Space REIT’s portfolio

E


Residential transactions with contracts dated July 30 to Aug 6Singapore — 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 NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/

FLOOR AREA(SQ FT)TRANSACTED

PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE



PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE

District 1 MARINA ONE RESIDENCES Apartment 99 years Jul 31 1,593 3,579,015 2,247 2017 New SaleMARINA ONE RESIDENCES Apartment 99 years Aug 2 1,173 2,543,310 2,168 2017 New SaleDistrict 2 SKY EVERTON Apartment Freehold Jul 30 1,109 2,600,000 2,345 Uncompleted New SaleSKY EVERTON Apartment Freehold Aug 2 678 1,690,000 2,492 Uncompleted New SaleSKY EVERTON Apartment Freehold Aug 4 1,109 2,626,000 2,369 Uncompleted New SaleDistrict 3 ARTRA Apartment 99 years Jul 30 786 1,628,400 2,072 Uncompleted New SaleARTRA Apartment 99 years Jul 31 1,119 2,080,100 1,858 Uncompleted New SaleARTRA Apartment 99 years Jul 31 1,119 2,063,300 1,843 Uncompleted New SaleARTRA Apartment 99 years Aug 1 1,119 2,116,000 1,890 Uncompleted New SaleARTRA Apartment 99 years Aug 2 1,410 2,298,800 1,630 Uncompleted New SaleARTRA Apartment 99 years Aug 2 1,119 2,097,100 1,873 Uncompleted New SaleMARGARET VILLE Apartment 99 years Aug 3 915 1,644,734 1,798 Uncompleted New SaleMARGARET VILLE Apartment 99 years Aug 3 463 925,806 2,000 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 30 700 1,777,000 2,540 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 30 700 1,756,000 2,510 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 30 840 1,849,000 2,202 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 30 527 1,259,000 2,387 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 31 431 1,071,000 2,487 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 1 431 986,000 2,290 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 3 431 986,000 2,290 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 3 700 1,718,000 2,455 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 3 431 994,000 2,309 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 4 431 992,000 2,304 Uncompleted New SaleONE PEARL BANK Apartment 99 years Aug 4 560 1,377,000 2,460 Uncompleted New SaleQUEENS PEAK Condominium 99 years Jul 31 1,507 2,479,000 1,645 Uncompleted New SaleRIVER PLACE Condominium 99 years Jul 31 678 1,000,000 1,475 1999 ResaleSTIRLING RESIDENCES Apartment 99 years Jul 30 657 1,164,000 1,773 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 30 786 1,494,000 1,901 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Aug 1 635 1,154,000 1,817 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Aug 3 1,055 1,870,000 1,773 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Aug 3 657 1,184,000 1,803 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Aug 3 657 1,156,000 1,761 Uncompleted New SaleDistrict 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years Aug 1 1,356 2,130,000 1,570 2004 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years Aug 1 1,625 3,064,800 1,886 2011 ResaleDistrict 5 HERITAGE VIEW Condominium 99 years Aug 2 1,195 1,370,000 1,147 2000 ResaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 31 646 1,126,000 1,743 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 31 474 827,000 1,746 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 2 474 867,000 1,831 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 2 775 1,378,000 1,778 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 2 474 862,000 1,820 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 3 786 1,346,000 1,713 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 3 517 890,000 1,723 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Aug 3 474 834,000 1,761 Uncompleted New SaleMURANO Apartment Freehold Aug 2 635 700,000 1,102 2008 ResaleTHE INFINITI Condominium Freehold Aug 6 915 1,120,000 1,224 2008 ResaleVIVA VISTA Apartment Freehold Jul 30 388 625,000 1,613 2014 ResaleWHISTLER GRAND Apartment 99 years Jul 31 764 1,186,650 1,553 Uncompleted New SaleWHISTLER GRAND Apartment 99 years Jul 31 990 1,373,760 1,387 Uncompleted New SaleWHISTLER GRAND Apartment 99 years Aug 4 1,066 1,511,460 1,418 Uncompleted New SaleDistrict 7 SOUTH BEACH RESIDENCES Apartment 99 years Aug 5 2,120 7,288,900 3,437 2016 ResaleTHE PLAZA Apartment 99 years Aug 5 840 960,000 1,143 1979 ResaleDistrict 8 N.A. Apartment Freehold Aug 5 1,023 900,000 880 Unknown ResaleDistrict 9 CAIRNHILL PLAZA Apartment Freehold Aug 1 3,305 5,300,000 1,604 1978 ResaleCAVENAGH COURT Apartment Freehold Aug 1 1,841 2,880,000 1,565 Unknown ResaleELIZABETH TOWER Apartment Freehold Aug 1 3,068 4,500,000 1,467 1980 ResaleHILLTOPS Condominium Freehold Aug 5 1,550 4,500,000 2,903 2011 ResaleMARTIN MODERN Condominium 99 years Aug 3 764 1,986,500 2,599 Uncompleted New SaleMARTIN MODERN Condominium 99 years Aug 3 764 1,979,800 2,591 Uncompleted New SaleMARTIN MODERN Condominium 99 years Aug 4 764 2,129,000 2,786 Uncompleted New SaleMARTIN NO 38 Apartment Freehold Jul 30 1,335 3,460,000 2,592 2011 ResalePARC CENTENNIAL Apartment Freehold Aug 5 1,249 1,850,000 1,482 2011 ResaleRIVERGATE Apartment Freehold Jul 31 1,604 3,250,000 2,026 2009 ResaleRV ALTITUDE Apartment Freehold Jul 30 441 1,360,000 3,082 Uncompleted New SaleSOPHIA RESIDENCE Condominium Freehold Aug 2 1,819 3,050,000 1,677 2014 ResaleTHE LAURELS Condominium Freehold Jul 30 1,302 3,620,000 2,779 2013 ResaleTWENTYONE ANGULLIA PARK Condominium Freehold Jul 30 2,260 9,080,000 4,017 2014 ResaleTWENTYONE ANGULLIA PARK Condominium Freehold Jul 30 2,260 9,280,000 4,105 2014 ResaleTWENTYONE ANGULLIA PARK Condominium Freehold Aug 5 2,260 8,380,000 3,707 2014 ResaleTWENTYONE ANGULLIA PARK Condominium Freehold Aug 6 1,163 3,980,000 3,424 2014 ResaleVIDA Apartment Freehold Aug 1 861 1,600,000 1,858 2009 ResaleVIVACE Apartment 999 years Jul 31 398 798,000 2,004 2012 ResaleDistrict 10 3 CUSCADEN Apartment Freehold Aug 4 474 1,625,845 3,433 Uncompleted New Sale

BOTANIC GARDENS MANSION Apartment Freehold Aug 2 1,755 3,000,000 1,710 Unknown ResaleBOULEVARD 88 Apartment Freehold Jul 30 1,776 6,066,900 3,416 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Aug 1 1,776 6,099,300 3,434 Uncompleted New SaleBOULEVARD 88 Apartment Freehold Aug 2 1,776 6,600,000 3,716 Uncompleted New SaleDUCHESS ROYALE Apartment 999 years Aug 2 764 1,400,000 1,832 2013 ResaleESTRIVILLAS Semi-Detached Freehold Jul 30 5,403 3,408,000 631 2013 ResaleFOURTH AVENUE RESIDENCES Apartment 99 years Aug 4 689 1,589,000 2,307 Uncompleted New SaleGRAMERCY PARK Condominium Freehold Aug 5 2,185 6,880,000 3,149 2016 ResaleKING’S ARCADE Apartment Freehold Jul 30 1,281 1,498,000 1,169 2002 ResaleMING TECK PARK Semi-Detached 999 years Aug 2 3,326 3,900,000 1,173 Unknown ResaleNAMLY AVENUE Semi-Detached Freehold Aug 1 3,767 5,730,000 1,522 1972 ResaleNASSIM JADE Condominium Freehold Aug 1 3,208 5,300,000 1,652 1997 ResaleNOUVEL 18 Condominium Freehold Aug 1 2,820 9,664,000 3,427 2014 ResaleNOUVEL 18 Condominium Freehold Aug 2 3,337 12,905,000 3,867 2014 ResaleONE JERVOIS Condominium Freehold Aug 2 990 1,750,000 1,767 2009 ResaleRIDGEWOOD Condominium 999 years Jul 31 2,002 2,520,000 1,259 1981 ResaleSPRING GROVE Condominium 99 years Aug 5 1,012 1,550,000 1,532 1996 ResaleTANGLIN PARK Condominium Freehold Aug 1 1,604 3,000,000 1,871 1989 ResaleTHE DRAYCOTT Apartment Freehold Jul 31 2,637 4,500,000 1,706 1980 ResaleTHE HYDE Condominium Freehold Jul 30 1,249 3,730,000 2,837 Uncompleted New SaleTHE MARBELLA Condominium Freehold Jul 31 1,076 1,900,000 1,765 2005 ResaleTHE SERENADE @ HOLLAND Condominium 99 years Aug 1 1,152 1,450,000 1,259 2004 ResaleDistrict 11 AMARYLLIS VILLE Condominium 99 years Jul 31 2,594 3,600,000 1,388 2004 ResaleM21 Apartment Freehold Aug 2 1,066 1,560,000 1,464 2010 ResaleTEN @ SUFFOLK Apartment Freehold Jul 31 1,119 1,640,000 1,465 2006 ResaleWATTEN HILL Condominium Freehold Aug 1 1,981 2,550,000 1,288 1979 ResaleDistrict 12 JUI RESIDENCES Apartment Freehold Aug 1 710 1,270,000 1,788 Uncompleted New SaleONE DUSUN RESIDENCES Apartment Freehold Aug 1 657 1,100,000 1,675 2016 ResaleRIVERBAY Apartment 999 years Aug 6 517 720,000 1,394 2014 ResaleTREVISTA Condominium 99 years Aug 2 1,615 1,760,000 1,090 2011 ResaleDistrict 13 BARTLEY RIDGE Condominium 99 years Jul 30 732 988,000 1,350 2016 ResalePARK COLONIAL Condominium 99 years Jul 30 506 935,000 1,848 Uncompleted New SalePARK COLONIAL Condominium 99 years Jul 31 506 947,000 1,872 Uncompleted New SalePARK COLONIAL Condominium 99 years Aug 1 1,410 2,451,000 1,738 Uncompleted New SalePARK COLONIAL Condominium 99 years Aug 2 1,711 2,805,000 1,639 Uncompleted New SalePARK COLONIAL Condominium 99 years Aug 2 1,249 2,125,000 1,702 Uncompleted New SalePARK COLONIAL Condominium 99 years Aug 4 603 1,236,000 2,050 Uncompleted New SalePARK COLONIAL Condominium 99 years Aug 4 1,410 2,457,000 1,742 Uncompleted New SaleTHE TRE VER Condominium 99 years Jul 30 495 833,000 1,682 Uncompleted New SaleTHE TRE VER Condominium 99 years Aug 2 1,098 1,728,000 1,574 Uncompleted New SaleTHE TRE VER Condominium 99 years Aug 4 1,378 2,306,000 1,674 Uncompleted New SaleDistrict 14 ARENA RESIDENCES Apartment Freehold Aug 2 603 1,129,000 1,873 Uncompleted New SaleESCADA VIEW Condominium Freehold Aug 1 775 750,000 968 1997 ResaleWARINGIN WALK Detached Freehold Aug 2 12,034 8,000,000 665 1998 ResalePARC ESTA Apartment 99 years Jul 30 635 1,067,000 1,680 Uncompleted New SalePARC ESTA Apartment 99 years Jul 30 721 1,249,000 1,732 Uncompleted New SalePARC ESTA Apartment 99 years Jul 30 721 1,209,000 1,676 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 915 1,497,440 1,637 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 915 1,477,840 1,615 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 915 1,487,640 1,626 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 915 1,502,340 1,642 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,549,350 1,674 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,564,200 1,690 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 829 1,364,160 1,646 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 829 1,368,080 1,651 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 829 1,390,620 1,678 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 829 1,360,240 1,641 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 829 1,348,480 1,627 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,584,000 1,711 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,579,050 1,706 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,588,950 1,716 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,574,100 1,700 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 926 1,569,150 1,695 Uncompleted New SalePARC ESTA Apartment 99 years Jul 31 527 953,000 1,807 Uncompleted New SalePARC ESTA Apartment 99 years Aug 1 635 1,067,000 1,680 Uncompleted New SalePARC ESTA Apartment 99 years Aug 1 926 1,585,000 1,712 Uncompleted New SalePARC ESTA Apartment 99 years Aug 3 904 1,467,000 1,622 Uncompleted New SalePARC ESTA Apartment 99 years Aug 4 926 1,540,000 1,664 Uncompleted New SalePARC ESTA Apartment 99 years Aug 4 420 759,000 1,808 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years Aug 1 1,076 1,953,000 1,814 Uncompleted New SaleTHE MIDAS Apartment Freehold Jul 31 2,131 1,730,000 812 2008 ResaleVACANZA @ EAST Condominium Freehold Jul 31 840 956,888 1,140 2014 ResaleVIENTO Apartment Freehold Aug 1 452 560,000 1,239 2013 ResaleDistrict 15 AMBER 45 Apartment Freehold Aug 3 1,345 2,800,000 2,081 Uncompleted New SaleAMBER PARK Condominium Freehold Jul 30 700 1,703,430 2,435 Uncompleted New SaleAMBER PARK Condominium Freehold Aug 2 743 1,807,110 2,433 Uncompleted New SaleAMBER PARK Condominium Freehold Aug 3 700 1,800,630 2,574 Uncompleted New SaleAMBER PARK Condominium Freehold Aug 4 2,336 5,730,750 2,453 Uncompleted New SaleCOASTLINE RESIDENCES Apartment Freehold Jul 30 1,130 3,174,000 2,808 Uncompleted New SaleCORALIS Condominium Freehold Aug 1 1,227 2,010,000 1,638 2013 ResaleEIS RESIDENCES Apartment Freehold Jul 31 1,066 878,000 824 2014 ResaleEMERY POINT Apartment Freehold Aug 6 1,302 1,500,000 1,152 2003 ResaleFRANKEL ESTATE Semi-Detached Freehold Jul 31 4,252 4,630,000 1,090 1956 ResaleFRANKEL ESTATE Detached Freehold Aug 2 5,038 7,680,000 1,525 2013 ResaleHAIG COURT Condominium Freehold Aug 1 1,076 1,580,000 1,468 2004 ResaleIDYLLIC RESIDENCES Apartment Freehold Aug 5 1,109 1,370,000 1,236 2009 ResaleLAGOON VIEW Apartment 99 years Aug 1 1,647 1,450,000 880 Unknown ResaleMANDARIN GARDENS Condominium 99 years Aug 5 732 860,000 1,175 1986 ResaleMARINE BLUE Condominium Freehold Aug 1 1,270 1,600,000 1,260 2016 ResaleOLLOI Apartment Freehold Jul 31 947 1,630,530 1,721 Uncompleted New SaleONE MEYER Apartment Freehold Aug 1 1,033 2,626,470 2,542 Uncompleted New SaleONE MEYER Apartment Freehold Aug 1 614 1,684,980 2,746 Uncompleted New SaleONE MEYER Apartment Freehold Aug 4 614 1,594,000 2,598 Uncompleted New SaleSANCTUARY GREEN Condominium 99 years Aug 5 1,711 2,300,000 1,344 2003 ResaleSANDY EIGHT Apartment Freehold Aug 2 732 1,227,000 1,676 2018 New SaleSANDY EIGHT Apartment Freehold Aug 2 721 1,249,000 1,732 2018 New SaleSEASIDE RESIDENCES Apartment 99 years Jul 31 1,302 2,226,150 1,709 Uncompleted New SaleDistrict 16 AQUARIUS BY THE PARK Condominium 99 years Jul 30 1,227 1,120,000 913 2000 ResaleBEDOK RESIDENCES Apartment 99 years Aug 1 538 790,000 1,468 2015 ResaleCOSTA DEL SOL Condominium 99 years Aug 1 1,238 1,700,000 1,373 2003 Resale

DONE DEALS


Residential transactions with contracts dated July 30 to Aug 6



PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALEPROJECT NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/


PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE

Source: URA Realis. Updated Aug 13, 2019.EC stands for executive condominium

DISCLAIMER:The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein.

EAST VIEW GARDEN Semi-Detached 99 years Jul 31 3,724 1,450,000 389 Unknown ResaleECO Condominium 99 years Aug 2 635 850,000 1,338 2017 ResaleLAGUNA GREEN Condominium 99 years Jul 30 1,270 1,200,000 945 1998 ResalePARBURY HILL CONDOMINIUM Condominium Freehold Jul 30 915 1,100,000 1,202 1997 ResaleUBER 388 Condominium Freehold Aug 1 850 1,220,000 1,435 2014 ResaleDistrict 17 CHANGI HEIGHTS Terrace Freehold Aug 2 1,733 2,250,000 1,298 1999 ResalePARC KOMO Apartment Freehold Aug 1 614 884,000 1,441 Uncompleted New SalePARC KOMO Apartment Freehold Aug 1 1,421 2,001,000 1,408 Uncompleted New SaleTHE GALE Condominium Freehold Jul 31 990 945,000 954 2013 ResaleTHE JOVELL Condominium 99 years Jul 30 872 1,094,200 1,255 Uncompleted New SaleTHE JOVELL Condominium 99 years Aug 3 904 1,092,000 1,208 Uncompleted New SaleTHE JOVELL Condominium 99 years Aug 3 527 650,000 1,232 Uncompleted New SaleDistrict 18 BELYSA EC 99 years Aug 5 829 760,000 917 2014 ResaleMELVILLE PARK Condominium 99 years Jul 31 1,378 900,000 653 1996 ResaleSEASTRAND Condominium 99 years Aug 1 581 625,000 1,075 2014 ResaleTHE TAPESTRY Condominium 99 years Jul 30 603 786,380 1,305 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 31 1,722 2,065,000 1,199 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 31 1,722 1,948,000 1,131 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 31 1,033 1,352,000 1,308 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 31 1,033 1,338,000 1,295 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 1 463 661,000 1,428 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 1 657 890,000 1,355 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 1 592 825,000 1,394 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 2 840 1,078,000 1,284 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 3 463 660,000 1,426 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 3 1,033 1,338,000 1,295 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 3 463 656,000 1,417 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 3 915 1,129,000 1,234 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 4 1,012 1,349,000 1,333 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 4 1,238 1,521,000 1,229 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Aug 4 592 791,000 1,336 Uncompleted New SaleWATERVIEW Condominium 99 years Aug 1 1,184 1,100,000 929 2014 ResaleWATERVIEW Condominium 99 years Aug 1 1,130 1,210,000 1,071 2014 ResaleWATERVIEW Condominium 99 years Aug 2 1,109 1,070,000 965 2014 ResaleDistrict 19 AFFINITY AT SERANGOON Apartment 99 years Jul 31 474 734,000 1,550 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Jul 31 474 790,000 1,668 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 1 732 1,179,000 1,611 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 3 753 1,158,000 1,537 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 3 538 800,000 1,486 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 4 732 1,069,000 1,460 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 4 538 791,000 1,470 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Aug 4 926 1,382,000 1,493 Uncompleted New SaleAUSTVILLE RESIDENCES EC 99 years Jul 31 1,023 880,000 861 2014 ResaleBOATHOUSE RESIDENCES Condominium 99 years Aug 2 1,464 1,430,000 977 2015 ResaleBOTANIQUE AT BARTLEY Condominium 99 years Aug 6 495 775,000 1,565 2019 Sub SaleCARDIFF RESIDENCE Condominium 99 years Aug 6 420 590,000 1,405 2014 ResaleESPARINA RESIDENCES EC 99 years Aug 3 1,066 1,150,000 1,079 2013 ResaleKOVAN MELODY Condominium 99 years Jul 30 1,410 1,780,000 1,262 2006 ResaleKOVAN MELODY Condominium 99 years Jul 31 1,216 1,400,000 1,151 2006 ResaleNOUVELLE PARK Condominium Freehold Jul 31 1,636 1,450,000 886 1994 ResalePIERMONT GRAND EC 99 years Jul 30 990 1,134,700 1,146 Uncompleted New SalePIERMONT GRAND EC 99 years Jul 30 840 940,000 1,120 Uncompleted New SalePIERMONT GRAND EC 99 years Aug 2 1,561 1,495,200 958 Uncompleted New SalePIERMONT GRAND EC 99 years Aug 3 1,356 1,479,200 1,091 Uncompleted New SalePIERMONT GRAND EC 99 years Aug 4 1,367 1,500,000 1,097 Uncompleted New SalePIERMONT GRAND EC 99 years Aug 4 1,044 1,110,000 1,063 Uncompleted New SaleREGENTVILLE Apartment 99 years Jul 31 2,077 1,200,000 578 1999 ResaleREGENTVILLE Apartment 99 years Aug 5 1,152 820,000 712 1999 ResaleREGENTVILLE Apartment 99 years Aug 6 1,744 1,050,000 602 1999 ResaleRIO VISTA Condominium 99 years Aug 1 1,249 1,060,000 849 2004 ResaleRIVERFRONT RESIDENCES Apartment 99 years Jul 31 614 884,000 1,441 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Aug 1 915 1,232,000 1,347 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Aug 2 915 1,238,000 1,353 Uncompleted New SaleSERANGOON GARDEN ESTATE Detached 999 years Jul 30 4,176 6,300,000 1,510 Unknown ResaleSERANGOON GARDEN ESTATE Detached 999 years Jul 30 4,080 3,930,000 963 Unknown ResaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 30 527 799,000 1,515 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 31 753 1,013,000 1,344 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 31 936 1,303,000 1,391 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 31 700 1,056,000 1,509 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 31 1,292 1,794,000 1,389 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 31 926 1,339,000 1,446 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 721 1,052,000 1,459 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 936 1,353,000 1,445 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 635 929,000 1,463 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 721 1,028,000 1,425 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 484 688,000 1,420 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 1 1,012 1,416,000 1,399 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 527 744,000 1,411 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 721 991,000 1,374 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 753 1,077,000 1,429 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 527 766,000 1,452 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 667 959,000 1,437 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 527 742,000 1,407 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 667 1,047,000 1,569 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 1,012 1,469,000 1,452 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 1,012 1,419,000 1,402 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 667 1,047,000 1,569 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 667 959,000 1,437 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 646 1,027,000 1,590 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 484 713,000 1,472 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 2 1,012 1,392,000 1,376 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 721 1,047,000 1,452 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 990 1,435,000 1,449 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 635 901,000 1,419 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 1,270 1,788,000 1,408 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 936 1,343,000 1,434 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 527 756,000 1,433 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 700 1,078,000 1,541 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 3 1,012 1,428,000 1,411 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 990 1,441,000 1,455 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 936 1,373,000 1,466 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 635 899,000 1,416 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 667 960,000 1,438 Uncompleted New Sale

THE FLORENCE RESIDENCES Apartment 99 years Aug 4 721 1,004,000 1,392 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 667 975,000 1,461 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 1,012 1,449,000 1,432 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 635 936,000 1,474 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Aug 4 484 679,000 1,402 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Aug 3 614 916,900 1,494 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Aug 3 614 1,027,700 1,675 Uncompleted New SaleTHE MINTON Condominium 99 years Jul 31 1,335 1,490,000 1,116 2013 ResaleTHE MINTON Condominium 99 years Aug 5 980 1,060,000 1,082 2013 ResaleTHE QUARTZ Condominium 99 years Aug 1 1,141 1,160,000 1,017 2009 ResaleDistrict 20 GRANDEUR 8 Condominium 99 years Aug 1 1,582 1,270,000 803 2005 ResaleJADESCAPE Condominium 99 years Aug 3 904 1,536,200 1,699 Uncompleted New SaleJADESCAPE Condominium 99 years Aug 3 764 1,295,400 1,695 Uncompleted New SaleSEMBAWANG HILLS ESTATE Terrace Freehold Jul 30 2,045 3,450,000 1,687 Unknown ResaleTHE GARDENS AT BISHAN Condominium 99 years Jul 30 1,152 1,300,000 1,129 2004 ResaleTHE GARDENS AT BISHAN Condominium 99 years Aug 1 861 918,000 1,066 2004 ResaleTHE GARDENS AT BISHAN Condominium 99 years Aug 2 883 940,000 1,065 2004 ResaleTHE PANORAMA Condominium 99 years Jul 30 1,012 1,520,000 1,502 2017 ResaleTHE PANORAMA Condominium 99 years Aug 6 474 680,000 1,436 2017 ResaleTHOMSON VIEW CONDOMINIUM Condominium 99 years Aug 5 1,313 1,331,000 1,014 1987 ResaleYEW LIAN PARK Terrace Freehold Jul 30 1,981 2,730,000 1,380 1967 ResaleDistrict 21 DAINTREE RESIDENCE Condominium 99 years Jul 31 743 1,228,350 1,654 Uncompleted New SaleDAINTREE RESIDENCE Condominium 99 years Aug 4 678 1,083,600 1,598 Uncompleted New SaleDAINTREE RESIDENCE Condominium 99 years Aug 4 721 1,148,000 1,592 Uncompleted New SaleDAINTREE RESIDENCE Condominium 99 years Aug 4 775 1,385,100 1,787 Uncompleted New SaleGARDENVISTA Condominium 99 years Aug 1 926 1,250,000 1,350 2006 ResaleMAYFAIR GARDENS Condominium 99 years Jul 31 1,249 2,461,450 1,971 Uncompleted New SaleMAYFAIR MODERN Condominium 99 years Jul 30 635 1,123,500 1,769 Uncompleted New SaleMAYFAIR MODERN Condominium 99 years Jul 31 506 1,067,036 2,109 Uncompleted New SaleMAYFAIR MODERN Condominium 99 years Jul 31 958 2,057,999 2,148 Uncompleted New SaleSOUTHAVEN I Condominium 99 years Aug 6 980 900,000 919 1997 ResaleVIEW AT KISMIS Apartment 99 years Jul 30 517 887,000 1,717 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 1 893 1,613,000 1,805 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 1 592 998,000 1,686 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 3 517 880,000 1,703 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 3 592 1,003,000 1,694 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 4 700 1,188,000 1,698 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 4 893 1,558,000 1,744 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 4 710 1,110,000 1,562 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Aug 4 710 1,231,000 1,733 Uncompleted New SaleDistrict 22 PARC OASIS Condominium 99 years Jul 31 1,507 1,350,000 896 1994 ResaleTHE CENTRIS Apartment 99 years Aug 2 1,066 1,260,000 1,182 2009 ResaleTHE LAKEFRONT RESIDENCES Condominium 99 years Aug 1 495 730,000 1,474 2014 ResaleDistrict 23 GUILIN VIEW Condominium 99 years Aug 1 861 718,000 834 1999 ResaleLE QUEST Apartment 99 years Aug 2 936 1,262,000 1,348 Uncompleted New SaleLE QUEST Apartment 99 years Aug 4 936 1,286,000 1,373 Uncompleted New SalePAVILION PARK Semi-Detached Freehold Aug 1 2,153 3,000,000 1,394 2003 ResaleREGENT GROVE Condominium 99 years Jul 31 1,163 780,000 671 2000 ResaleTHE JADE Condominium 99 years Aug 6 1,335 1,390,000 1,041 2004 ResaleTHE QUINTET EC 99 years Aug 5 1,270 920,000 724 2006 ResaleTHE SKYWOODS Condominium 99 years Jul 31 1,044 1,400,000 1,341 2016 ResaleWANDERVALE EC 99 years Aug 2 1,098 1,215,000 1,107 2018 ResaleYEW MEI GREEN EC 99 years Jul 30 1,292 890,000 689 2000 ResaleYEWTEE RESIDENCES Apartment 99 years Aug 5 1,259 1,000,000 794 2008 ResaleDistrict 25 PARC ROSEWOOD Condominium 99 years Jul 30 603 640,000 1,062 2014 ResalePARC ROSEWOOD Condominium 99 years Jul 31 431 520,000 1,208 2014 ResalePARC ROSEWOOD Condominium 99 years Jul 31 431 513,000 1,191 2014 ResaleDistrict 26 TEACHER’S HOUSING ESTATE Terrace 999 years Jul 31 1,798 1,900,000 1,054 Unknown ResaleTHE ESSENCE Apartment 99 years Aug 3 1,227 1,621,520 1,321 Uncompleted New SaleDistrict 27 LILYDALE EC 99 years Jul 31 1,238 840,000 679 2003 ResaleNORTHWOOD Condominium Freehold Aug 2 2,228 1,820,000 817 2009 ResaleSEMBAWANG SPRINGS ESTATE Semi-Detached Freehold Jul 30 2,895 3,690,000 1,275 2013 ResaleTHE MILTONIA RESIDENCES Condominium 99 years Jul 30 936 808,000 863 2014 ResaleTHE WISTERIA Apartment 99 years Aug 2 710 868,000 1,222 2018 Sub SaleDistrict 28 H2O RESIDENCES Condominium 99 years Jul 31 1,076 1,195,000 1,110 2015 ResaleNIM COLLECTION Terrace 99 years Jul 31 1,679 2,908,000 1,732 2019 New SalePARC BOTANNIA Condominium 99 years Jul 30 667 883,000 1,323 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 31 786 1,011,000 1,287 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 31 980 1,367,700 1,396 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 1 786 1,050,112 1,336 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 2 667 920,000 1,379 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 2 667 896,280 1,343 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 2 1,335 1,561,700 1,170 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 2 969 1,372,000 1,416 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 2 1,281 1,635,420 1,277 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 4 786 1,031,000 1,312 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 4 872 1,195,600 1,371 Uncompleted New SalePARC BOTANNIA Condominium 99 years Aug 4 1,163 1,361,000 1,171 Uncompleted New SaleRIVERBANK @ FERNVALE Condominium 99 years Aug 1 1,238 1,410,000 1,139 2017 Resale

DONE DEALS


GAINS AND LOSSES

Top gains and losses from July 30 to Aug 6

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 VIDA 9 861 Aug 1 1,858 Apr 28, 2010 2,899 896,000 36 5 9.32 NASSIM JADE 10 3,208 Aug 1 1,652 Jun 1, 1995 1,948 361,488 6 0.3 24.23 EIS RESIDENCES 15 1,066 Jul 31 824 Apr 25, 2011 1,042 232,000 21 3 8.34 RIDGEWOOD 10 2,002 Jul 31 1,259 Nov 21, 2013 1,364 210,000 8 1 5.75 THE LAURELS 9 1,302 Jul 30 2,779 Apr 12, 2013 2,887 140,000 4 1 6.36 REGENT GROVE 23 1,163 JUL 31 671 OCT 31, 2012 753 95,000 11 2 6.87 SOPHIA RESIDENCE 9 1,819 Aug 2 1,677 May 7, 2015 1,704 50,000 2 0.4 4.28 ESCADA VIEW 14 775 Aug 1 968 Apr 18, 2013 1,032 50,000 6 1 6.39 TEN @ SUFFOLK 11 1,119 Jul 31 1,465 Apr 29, 2013 1,501 40,000 2 0.4 6.310 TREVISTA 12 1,615 Aug 2 1,090 Oct 18, 2012 1,115 40,000 2 0.3 6.811 BEDOK RESIDENCES 16 538 Aug 1 1,468 Dec 14, 2011 1,500 17,200 2 0.3 7.612 VACANZA @ EAST 14 840 Jul 31 1,140 Jun 30, 2011 1,155 13,112 1 0.2 8.113 GUILIN VIEW 23 861 Aug 1 834 Apr 5, 2011 848 12,000 2 0.2 8.314 CARDIFF RESIDENCE 19 420 Aug 6 1,405 Mar 6, 2012 1,429 10,000 2 0.2 7.4

Source: URA, EdgeProp Note: Computed based on URA caveat data as at Aug 14 for private non-landed houses transacted between July 30 and Aug 6The 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 CAIRNHILL PLAZA 9 3,305 Aug 1 1,604 Jan 31, 1997 923 2,250,000 74 2 22.52 TANGLIN PARK 10 1,604 Aug 1 1,871 Jun 29, 2001 892 1,570,000 110 4 18.13 THE DRAYCOTT 10 2,637 Jul 31 1,706 Apr 5, 1997 1,138 1,500,000 50 2 22.34 GRAMERCY PARK 10 2,185 Aug 5 3,149 Jul 25, 2016 2,645 1,100,800 19 6 3.05 CAVENAGH COURT 9 1,841 Aug 1 1,565 May 24, 2007 978 1,080,000 60 4 12.26 WATTEN HILL 11 1,981 Aug 1 1,288 Jun 26, 1996 747 1,070,000 72 2 23.17 SANCTUARY GREEN 15 1,711 Aug 5 1,344 Feb 10, 2000 725 1,058,400 85 3 19.58 NORTHWOOD 27 2,228 Aug 2 817 Jun 8, 2007 467 789,500 77 5 12.29 AMARYLLIS VILLE 11 2,594 Jul 31 1,388 Sep 28, 2010 1,090 772,540 27 3 8.810 KOVAN MELODY 19 1,410 Jul 30 1,262 Jul 19, 2009 730 750,000 73 6 10.011 KING'S ARCADE 10 1,281 Jul 30 1,169 Feb 28, 2002 596 734,100 96 4 17.412 THE GARDENS AT BISHAN 20 1,152 Jul 30 1,129 Mar 25, 2002 495 729,760 128 5 17.413 HERITAGE VIEW 5 1,195 Aug 2 1,147 Dec 24, 1998 542 722,310 112 4 20.614 THE CENTRIS 22 1,066 Aug 2 1,182 Oct 30, 2006 533 691,755 122 6 12.815 ONE JERVOIS 10 990 Aug 2 1,767 Feb 12, 2007 1,133 628,000 56 4 12.5

E


The seller of a unit at Cairnhill Plaza made the top gain of $2.25 million over the week of July 30 to Aug 6. The 3,305 sq ft unit on the 20th floor was bought for $3.05 million ($923 psf) in January 1997, and sold for $5.3 million ($1,604 psf) on Aug 1. The seller made a

74% profit, or an annualised profit of 2%, over 22½ years.Located along Cairnhill Road in prime District 9, the free-

hold Cairnhill Plaza was developed by UOL Group (former-ly known as United Overseas Land).

Completed in 1978, Cairnhill Plaza comprises 204 units in two 30-storey high towers. The development is made up mainly of three- and four-bedroom units, with sizes ranging from 2,293 sq ft to 3,305 sq ft. Located near the Orchard Road shopping belt, Cairnhill Plaza is a one-minute drive from Far East Plaza, and a three-minute drive from Ion Orchard. Mount Elizabeth Hospital is just an eight-minute walk away.

The second top gain made over the week – a 110% profit of $1.57 million – was at Tanglin Park, located at Ridley Park in prime District 10. The 1,604 sq ft unit on the third floor was purchased for $1.43 million ($892 psf) in June 2001 and sold for $3 million ($1,871 psf) on Aug 1. This means that the seller made an annualised profit of 4% over 18 years.

Completed in 1989, the freehold Tanglin Park has a total of 274 units, and is developed by City Developments Ltd. It is a three-minute drive from Gleneagles Medical Centre, and a six-minute drive from the Singapore Botanic Gar-dens. Tanglin Park is also a less than six-minute drive from Ion Orchard, Tanglin Mall, Takashimaya, and The Paragon.

At The Draycott, the seller of a 10th-floor unit made the third most profitable transaction of $1.5 million of the week. The 2,637 sq ft, three-bedroom unit was bought for $3 million ($1,138 psf) in April 1997, and sold for $4.5 mil-lion ($1,706 psf) on July 31. The seller made a 50% prof-it, or an annualised profit of 2% over more than 22 years.

Located in prime District 10, at Draycott Park, the free-hold The Draycott comprises 132 units in 34 floors. The de-velopment was completed in 1980.

On the other hand, the greatest loss incurred over the

week was from the resale of an 861 sq ft unit at Vida, at Peck Hay Road, in prime District 9. The seller sold the property for $1.6 million ($1,858 psf) on Aug 1, and sustained a 36% loss of $896,000. The unit was purchased in April 2010 for $2.49 million ($2,899 psf). Over a holding period of more than nine years, this translates into an annualised loss of 5%.

The freehold Vida was completed in 2009, and de-veloped by Far East Organization. It comprises a total of 137 units.

Cairnhill Plaza unit reaps $2.25 mil profitPICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

The 3,305 sq ft unit at Cairnhill Plaza was sold for $5.3 million on Aug 1, marking the biggest gain of the week

An 861 sq ft unit at Vida was sold for $1.6 million on Aug 1 and incurred the greatest loss of the week


| BY AMY TAN |

Joint-venture partners TCC Assets Co and Frasers Property Holdings (Thailand) have unveiled the master plan for One Bang-kok, a THB120 billion ($5.4 billion) dis-trict. Located on a 16.7ha plot at the cor-

ner of Wireless Road and Rama IV Road, One Bangkok is set to be Thailand’s largest fully in-tegrated district and the largest private-sector property initiative undertaken in the country.

“Our ambition is to build sustainable de-velopments that improve quality of life and are part of the fabric of the community,” says Panote Sirivadhanabhakdi, group CEO of Frasers Property Ltd. “We believe One Bang-kok is an offering worthy of what Thailand’s capital can deliver on the world stage, and our goal is to see the country become the very ep-icentre of Asean.”

The district’s master plan outlines a set of four precincts centred around a 107,640 sq ft landscaped civic plaza. These precincts will be connected on multiple levels, with each pre-cinct comprising retail and lifestyle offerings on the lower levels, and offices and residenc-es on the upper floors.

Work and play“It is our vision to enhance the city’s status by creating a focal point for business in Bangkok that will gain global recognition. And learning from the great neighbourhoods of the world, we knew it is vital to enrich the mix of commer-cial uses at One Bangkok to ensure the district is engaging and alive at all hours,” says Soon Su Lin, CEO of development, One Bangkok.

In total, the district will have 5.38 million sq ft of net lettable office space spread across five office towers that will be integrated into the mixed-use scheme. These towers will house 500 local and international organisations with more than 50,000 employees. To be complet-ed in phases from 2023 to 2026, the offices at One Bangkok are designed to the highest specifications and are targeting the LEED and WELL certifications. The former provides in-

dependent verification of a building or neigh-bourhood’s green features, while the latter is a building standard focusing on enhancing peo-ple’s health and wellness through the build-ings where they live, work and play.

Apart from office space, One Bangkok will have some 450 retail stores occupying 1.94 million sq ft of space. These will be spread across four different retail precincts that will be connected across multiple levels, offering shoppers a range of leisure activities and so-cial experiences.

In addition, One Bangkok will be a cultural destination with inclusive and accessible ar-tistic offerings. The district will be linked to-gether by multi-sensory experiences through state-of-the-art facilities and showcase public art, learning spaces, performing arts and con-certs all year round.

Luxury livingThe district will also have five new-to-market hotels ranging from boutique to business to su-per luxury, offering a combined 1,100 rooms. The first luxury hotel, The Ritz-Carlton Bang-ko, is scheduled to open in 2023.

Meanwhile, the district’s residential com-ponent will combine the prestige of the Wire-less Road address with park-side living. Three luxury residential towers will be located at the north of the district and offer privacy and views of Lumphini Park and the city.

The first residences will be located on top of The Ritz-Carlton Bangkok and comprise 110 ultra-luxury apartments of two to four bed-rooms starting from 1,399 sq ft. These units will be launched in early 2020.

The joint-venture partners have also con-ceived an iconic Signature Tower. Standing at 430m, this tower will house office spaces as well as a super luxury hotel. When complet-ed, it will be one of Asean’s 10 tallest buildings and will offer panoramic views of the city and be a focal point of Bangkok’s skyline.

Accessibility and greeneryOne Bangkok’s master plan prioritises ease of accessibility: Connected to the MRT Blue Line

at Lumphini Station, users can enter and walk to every point in the district in comfort. By car, the district has six access points, includ-ing from Wireless Road, Rama IV and a new direct connection to the expressway, which is in the process of being approved by the rele-vant authorities.

These access points link directly to a com-mon underground infrastructure to ease traffic and promote walking within the district via a network of streets and alleys lined with shops, cafés, art and public spaces. To ensure pedes-trian comfort, streets are shaded with open-air structures and tall canopied trees, or are within fully enclosed air-conditioned spaces.

Almost half of the 16.7ha land plot is al-located for an integrated system of streets, squares and open spaces to encourage people

to spend more time outdoors. Beside the civ-ic plaza, there is a 40m-wide continuous lin-ear park that will wrap around both Wireless Road and Rama IV Road.

Soon says: “The district is peppered with activated public spaces, and we expect the synergy from this mix of uses to create an exceptional destination capable of attract-ing top-level organisations and a place that tourists and locals alike will want to go and keep returning to, a place to work, shop, play and create.”

One Bangkok will be enabled by a smart centralised infrastructure system, the first of its kind in Thailand for a private development. With piling works completed in June this year, the district is expected to open in 2023, with full completion scheduled for 2026.

For any enquiries, please call Exclusive Marketing Agent:

Henry Butcher Real Estate Sdn Bhd (236461-W)No. 25, Jalan Yap Ah Shak, Off Jalan Dang Wangi, 50300 Kuala LumpurTel: +603-2694 2212 Fax: +603-2694 1261

Mr. Long Shi Chuen +6012-373 5580 (PV 1848)[email protected]

Mr. Haryanto Lim +6016-295 4988 (PEA 1377)[email protected]

Jalan Raja Chulan, Kuala Lumpur Within KL’s Golden Triangle & Tourist Belt

SALE BY EXPRESSION OF INTEREST

For Sale by Expressions of Interest Closing on 13 September 2019, 5.00pm

■ Existing 10 storey office building■ Corner of Jln Raja Chulan & Jln Hang Lekiu■ Land Area: 5,918 sq ft (approx.)■ GFA: 58,038 sq ft (approx.)■ Previously let to a private college■ Close to SEGi College, Maybank HQ, Menara

Standard Chartered■ Masjid Jamek Station is 10 minutes’ walk away■ Approved for conversion to 91 room Hotel■ Freehold. Vacant possession

Approximate Location of the

Subject Property

A Rare Opportunity to Own A Prime Building in Kuala Lumpur for less than SGD 8 million*

“This is an overseas investment. As overseas investments carry additional financial, regulatory and legal risks, investors are advised to do the necessary checks and research on the investment beforehand.”

*subject to contract and vendor’s acceptance

Michael YS Tan +65 9661 5010 (CEA: R042955H) [email protected]

LUXE PROPERTY PTE LTD (CEA Lic. No. L3010790Z)

OFFSHORE

Master plan for Bangkok’s $5.4 bil fully integrated district unveiled

Located on a 16.7ha plot at the corner of Wireless Road and Rama IV Road, One Bangkok is set to be the largest private-sector property initiative undertaken in the country

E

Panote Sirivadhanabhakdi (left), group CEO of Frasers Property Ltd, and Soon Su Lin, CEO of development, One Bangkok, with the model for One Bangkok

PICTURES: ONE BANGKOK


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UNDER THE HAMMER

| BY TIMOTHY TAY |

A 743 sq ft, one-bedroom unit at Ma-rina Bay Residences will be offered for the first time at Edmund Tie & Co’s (ET&Co) auction on Aug 28. The corner unit on the 30th floor

has a guide price of $1.7 million ($2,288 psf). It will be sold with existing tenancy that ends in March next year and carries a

monthly rent of $4,500. The owner has decided to cash out and re-

invest in another property, says Joy Tan, head of auction and sales at ET&Co.

Marina Bay Residences is a 55-storey residen-tial tower comprising 428 units of mostly one- and two-bedders. Completed in 2010, the devel-opment is part of Marina Bay Financial Centre (MBFC). The entire mixed-use project was joint-ly developed by Keppel Land, Hongkong Land,

and CK Hutchison Holdings.Located on Marina Boulevard in prime Dis-

trict 1, the development is in the heart of the CBD and close to other prominent buildings like Marina One, Asia Square, and One Raffles Quay. MBFC is also connected to the Downtown MRT Station on the Downtown Line.

On the unit to be auctioned, Tan says: “This type of unit that is located in the CBD is likely to attract investors who are look-ing for an asset with a good yield return, as well as singles who work in the CBD area

and want a home closer to their workplace.” She adds: “Investors are thus able to target singles or expatriate professionals working in the nearby area.”

According to URA Realis, the unit last changed hands for about $1.92 million ($2,581 psf) in April 2010, but was initially sold for $1.54 million ($2,078 psf) in 2007. The unit faces the Marina Bay Cruise Centre and has views of the sea.

Over the past three years, the average selling price of one-bedroom units at Marina Bay Res-idences was $2,465 psf across 12 transactions, according to URA Realis. So far this year, month-ly rents for units of 700 to 800 sq ft have ranged from $3,300 to $5,000 across 42 transactions.

“Generally, demand has remained strong for one-bedroom units in the Marina Bay area as these units tend to be of a good tenantable size, and they usually have affordable absolute pric-es,” says Tan. “As this development is located in the heart of the CBD, it provides easy access to different parts of Singapore.” E

Corner one-bedroom unit at Marina Bay Residences going for $1.7 mil

Marina Bay Residences is a 55-storey residential tower that is part of the mixed-use Marina Bay Financial Centre

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

TABLES: URA REALIS

Recent one-bedroom resale transactions at Marina Bay Residences

CONTRACT DATE FLOOR UNIT SIZE (SQ FT) PRICE ($ MIL) PRICE ($ PSF)

April 2019 31st 743 1.62 2,181

August 2018 50th 732 1.65 2,254May 2018 21st 710 1.55 2,182

February 2018 41st 710 1.60 2,252

Recent rental transactions for 700-800 sq ft units at Marina Bay Residences LEASE DATE MONTHLY RENT ($)

June 2019 4,700

June 2019 4,400

June 2019 4,150

June 2019 3,800


MARKET TRENDS

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

$2,300,000HDB ShophouseD16 BEDOK RESERVOIR ROAD | 99 yearsSize(sqft): 1,647 | PSF: $1,396

Super Prime HDB Shophouse, 2 storey total size 1,647 sq ft. No restriction on ownership, foreigner, PR and Singaporean can own. Ground floor 764 sq ft tenanted to Guardian for 12 years. 2nd floor 3 Rooms HDB apartment size 883 sq ft. Balance tenure 63 years.

$39,888,888Good Class BungalowD10 JERVOIS HILL | FreeholdBuilt-up(sqft): 11,000 | Land(sqft): 15,191 | PSF: $2,626

Stunning GCB on the Peak of the Hill that offers unblocked breathtaking Views of Singapore & cityscape.Located in the Top 5 GCB areas & Embassy Belt.Near to Orchard,Tanglin,Grange,Bishop Road.With 8 Bedrooms,7 Bathrooms walk-in wine cellar entertainment rm Park 5 cars,21 m lap pool.Enjoy your own rooftop Gym & Sauna.A rare masterpiece not to miss, call Michael Ciola 94754785.

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View to OfferSemi-Detached HouseD5 JUBILEE ROAD | Freehold Built-Up(sqft): 3,800 | Land(sqft): 3,300

4 ADJOINING SEMI-D HOUSES @ JUBILEE RD FOR SALE! Ideal for Redevelopment. Site area: 13,231 sf Freehold. Next to West Coast Plaza, SuperMarket, Hawker Centre, Wet market and Many More Amenities. Don’t miss this Rare Investment Opportunity. Kindly contact David Neubronner @98178807 for viewing.

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Lindy Lee ORANGETEE & TIE PTE LTD R049099J

65 9455 4388

$3,300,000The Suites at Central D9 DEVONSHIRE ROAD | Freehold Size(sqft): 1,378 | PSF: $2,395 Bedroom: 3

A beautifully crafted freehold D9 condominium located at the privileged neighborhood of Devonshire Rd embedded with luxurious full condo facilities. Mins walking distance to Somerset and Orchard MRT. Many nearby amenities. Easily accessible via the Central Expressway. Contact Lindy @94554388 now!

$2,800,000HDB ShophouseD10 GHIM MOH ROAD | 99 yearsSize(sqft): 1,474 | PSF: $1,900

2 Storey Shophouse. 5 + 5 years Lease to Corporate F&B Tenant, S$10,200 monthly Rental. No GST. Solid Investment. Fantastic Location in Mature Estate, Easy Access with Parking. 5 Mins Walk to Buona Vista MRT, near Commonwealth, Dover & Holland Village. Sincere Seller, Price Negotiable.

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PROP HUNT CLASSIFIEDS

CONTRACT DATE FLOOR UNIT SIZE (SQ FT) PRICE ($ MIL) PRICE ($ PSF)

April 2019 31st 743 1.62 2,181

August 2018 50th 732 1.65 2,254May 2018 21st 710 1.55 2,182

February 2018 41st 710 1.60 2,252

| BY CHARLENE CHIN |

Retail rents in Singapore remained weak in 1H2019, with the URA retail rental index in the Central Region recording a 1.7% fall from end-2018, real estate consultancy Colliers highlighted in a

report released on Aug 14. Ground floor rents on Orchard Road declined

by 1.5% half-on-half (h-o-h) in 1H2019 to $40.60 psf per month, while rents in the Central Re-gion remained flat at $33.60 psf per month.

Although rental declines have slowed since early 2018, the soft economy could impact the weak consumer sentiment and delay any rent-al increases, notes Colliers.

New supply in 2019 has been well dis-

tributed across the city centre, city fringe and suburbs, observes Colliers. It forecasts that supply pipelines should taper off over 2020 to 2023.

Colliers attributes the new supply of retail options in 2019 to the decline in retail vacan-cy rates by 80 basis points h-o-h in 1H2019 to 7.7%. This has been “driven by higher net ab-sorption which is likely boosted by good take-up at Jewel at Changi and Funan”, the report says. On a y-o-y basis, vacancy increased by 40 basis points.

On June 28, Funan reopened after a three-year revamp, with 95% of its retail space leased. The new Funan comprises 507,000 sq ft of retail space, 260,000 sq ft of office space, as well as a co-living component. At Funan,

25% of its space is dedicated to F&B, boasting new concepts such as a 200m cycling path, ur-ban farm and a Taobao store, the brand’s first in Singapore.

Jewel Changi Airport officially opened on April 17, with 280 shops over 580,000 sq ft of retail space.

In 2H2019, PLQ Mall is expected to be com-pleted, injecting 340,000 sq ft of retail space into the market. Colliers forecasts the aver-age annual new supply for 2H2019 to 2023 to be 380,000 sq ft, vastly less than 1.04 million sq ft over the last decade. “The lower sup-ply should help support occupancy going for-ward,” it observes.

Consolidation in the retail sector continued in 1H2019. Bath and body products retailer

Crabtree & Evelyn shut all its physical stores in Singapore as it moved operations online, re-launching its website and new product lines. Brands such as Isetan, Cold Storage, Marks & Spencer, MPH and Kinokuniya have also down-sized operations.

Meanwhile, the trend of “clicks-to-bricks” – where an online retailer enforces its offline presence by expanding to physical stores – has continued. Singapore online fashion label Love Bonito has opened its third store, also its flag-ship store, at Funan.

Colliers also observes the rise of “subscrip-tion e-commerce”, where curated products are shipped to customers on a regular basis, at a faster shipping time, to differentiate itself from online retailers.

Singapore retail rents remain weak in 1H2019

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PROP HUNT CLASSIFIEDS

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

$5,810,000Detached HouseD19 KOVAN | Freehold Built-Up(sqft): 3,500 | Land(sqft): 5,287PSF: $1,099

$5,980,000Semi-Detached HouseD16 SENNETT LANE | Freehold Built-Up(sqft): 7,769 | Land(sqft): 3,495PSF: $1,711

RSVP PropNex Landed Exhibition on 25th August! Rare Detached with an auspicious number! 2-storey on regular land with 5 good size bedrooms plus a granny’s room @ Kovan vicinity. Mins walk to Kovan MRT, Mall & amenities.

RSVP PropNex Landed Exhibition on 25 August! Brand new 3.5 storey Semi-D in Lucky Height estate. Quality finishes with fully equipped kitchen. Home lift that access all the way to the roof garden. A pool that will delights the kids and bring joy to the family. All bedrooms are ensuite and spacious.

$4,900,000Semi-Detached HouseD15 TAY LIAN TECK DRIVE | Freehold Built-Up(sqft): 3,233 | Land(sqft): 4,769PSF: $1,027

RSVP PropNex Landed Exhibition on 25 August! Freehold, 5 mins to future Siglap MRT. huge land for a Semi-D, good for entertaining guests and holding party. Ideal for multi-genration family. Easily accessible and near amenities. Good Sch/ eating house/ park.

$7,650,000Semi-Detached HouseD19 CHUAN GARDEN | 999 yearsBuilt-Up(sqft): 7,556 | Land(sqft): 5,100PSF: $1,500

RSVP PropNex Landed Exhibition on 25th August! 2.5 Storey Iconic Semi-D@Chuan Garden. L5100sf/B7556sf. Big car porch, pool, lift & basement. Modern living, Spacious layout with its one-of-a-kind of timeless design & luxury. The water feature at living and recreational area to inject uniqueness here.

$3,990,000Semi-Detached HouseD19 HUDDINGTON AVENUE | 999 yearsBuilt-Up(sqft): 3,900 | Land(sqft): 2,153 PSF: $1,853

RSVP PropNex Landed Exhibition on 25th August! Hurry! Irresistible Price! Serious Seller! Brand New Semi Detached with Home Lift in Serangoon Garden. Complete with Modern and Luxurious ID Finishing. Near upcoming MRT. Short walk to myVillage, Chomp Chomp and Serangoon Country Club. TOP Soon!

$3,750,000Semi-Detached HouseD19 BRIDPORT AVENUE | 999 years Built-Up(sqft): 3,310 | Land(sqft): 2,164PSF: $1,733

$2,788,000Terrace HouseD19 PARRY ROAD | 999 years Built-Up(sqft): 3,000 | Land(sqft): 1,916PSF: $1,455

RSVP PropNex Landed Exhibition on 25 August! Star-priced of Serangoon Gardens! This beautiful, home features floor to ceiling windows, allowing ample natural daylight. All rooms are ensuite and spacious. It is excellently located, just 8 mins stroll to amenities. 1KM to Zhonghua Pri Sch. Call now.

RSVP PropNex Landed Exhibition on 25 August! Spacious 3-sty Inter-Terrace at Parry Road. Unblocked and breezy. 4+1 with roof terrace and big yard. Within 1km to Rosyth School. Renovated and well-kept.

$4,380,000Corner Terrace HouseD21 YUK TONG AVENUE | Freehold Built-Up(sqft): 4,500 | Land(sqft): 2,127PSF: $2,059

$2,680,000Cluster HouseD19 HILLSIDE DRIVE | 999 years Built-Up(sqft): 4,779 | PSF: $561 (Built-Up)

RSVP PropNex landed Exhibition on 25 August! This Exclusive Corner Terrace has a good view of the Bukit Timah Hill. Relax after a long day with your family in your own pool. A total of 4 rooms and 4 bath, this house sit on the highest point of the Yuk Tong Avenue. Call to enquire!

RSVP PropNex Landed Exhibition on 25th Aug! Hillsgrove nestled in Kovan area is an exclusive cluster of 12 units, 3 sty strata Semi-D with basement carpark. Bright & breezy houses with high ceiling and functional layout.Enjoy daily convenience with an array of dining, shopping malls in the vicinity.

$3,799,000Semi-Detached HouseD19 TAI KENG GARDEN | Freehold Built-Up(sqft): 4,160 | Land(sqft): 2,480PSF: $1,532

RSVP PropNex Landed Exhibition on 25 August!. Brand New completed Semi-Detached at Tai Keng Gardens. Beautiful and spacious layout 4 or 5 bedrooms configuration available. Great accessibility to major expressways. Within 1km to Maris Stella High & PLMGS! A dream home that you should not miss.

Anselm Teo PROPNEX REALTY PTE LTDR043448I 65 8668 7778

Jenny Yeo PROPNEX REALTY PTE LTDR011509Z 65 8333 0883

Elaine Leong PROPNEX REALTY PTE LTDR016199G 65 9695 6656

Albert Low PROPNEX REALTY PTE LTDR010772J 65 9009 6486

Rosebelle Chua PROPNEX REALTY PTE LTDR009616H 65 8288 9815

Roy Lee PROPNEX REALTY PTE LTDR058783H 65 8700 6661

Ben Huang PROPNEX REALTY PTE LTDR051182C 65 8488 4454

Avery Lee PROPNEX REALTY PTE LTDR058648C 65 8808 0838

Catherine Lee PROPNEX REALTY PTE LTDR009414I 65 9847 3817

Mitchelle Wong PROPNEX REALTY PTE LTDR055068C 65 8322 3093

Lynn Sim PROPNEX REALTY PTE LTDR056904Z 65 9109 3781

Ace Gouk PROPNEX REALTY PTE LTDR056469B 65 8612 5656

$8,480,000Detached HouseD14 JALAN SENANG | FreeholdBuilt-Up(sqft): 7,969 | Land(sqft): 5,000PSF: $1,696

RSVP PropNex Landed Exhibition on 25th August! This Detached is situated in quiet estate yet close to amenities & MRT. Quality finishing of both Flooring and Fittings, superb feeling of own pool and manicured garden make it even more luxurious living out of buzzling city.

$23,888,000Detached HouseD15 EAST COAST | Freehold Built-Up(sqft): 5,000 | Land(sqft): 20,007PSF: $1,194

RSVP PropNex Landed Exhibition on 25th August! Rarely available Detached with an auspicious number! Choice location! Best suited for rebuild!

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