scanning the horizon As he mulls new ventures after the successful launch of Quayside at Robertson Quay, property developer Kishin RK tells Hong Xinyi how he hones his eye for untapped opportunities Photography Darren Gabriel Leow Fashion Direction Desmond Lim

efunct nightclubs may not for a developer with a clear vision of what a inspire as much melancholia vibrant Robertson Quay could look like in this as other heritage sites at new chapter of its story. “We started looking risk of disappearing, but at this area in 2011, 2012, because we saw the these markers of ’s potential. It was ripe for a transformation,” more ephemeral history can nevertheless says Kishin. “There was a strong captive induce a twinge of nostalgia for communally audience in this area—residents from not misspent youth. From the late 1990s to just Robertson Quay, but also River Valley, the mid-noughties, Robertson Quay was Kim Yam Road and St Thomas Walk. This party central for clubbers, home to several catchment area has many expatriates and pioneering nightlife concepts. These days, young families, and the average age of the however, the area grooves to a different adult residents is mid to late 30s. And there beat. The InterContinental Singapore was nothing exciting at the time, in terms of Robertson Quay opened last October, and lifestyle offerings that catered to them. That’s is part of the 120,000sqft Quayside at the reason we came in.” Robertson Quay development spearheaded To make sure RB Capital understood by RB Capital Group. Chatting with the these target consumers well, a team was company’s founder and CEO Kishin RK one formed to start initiating conversations with morning in the InterContinental penthouse, residents. From this legwork, clear demand we ask how the neighbourhood’s nightlife patterns emerged. Many residents talked heritage factored into the conceptualisation about wanting a place where they could work of the area’s rejuvenation. remotely—that is one reason Quayside is now The 35-year-old has a reputation for being home to private members’ club 1880, which utterly fascinated by every facet of the real includes a co-working space. For dining, estate business, and his well‑considered residents wanted fine casual options that are answer certainly lives up to that reputation. child- and pet-friendly. “From there, we could For him, the key to success here lies in start to understand exactly how to curate that looking forward rather than backward. experience for them,” Kishin explains. “All the “Robertson Quay has gone through a very restaurants at Quayside are not intimidating interesting journey,” he says. “It used to have in terms of design, approach, service, and many warehouses, then it moved towards an pricing. What we are trying to do is move era where it was known for its nightclubs. from that typical landlord-tenant relationship Then, there was a transformation again when to a landlord-consumer relationship. We went there were many residential plots tendered from a B2B to B2C model.” out. That brought an influx of residents and This thoughtful approach guides the the nightlife positioning didn’t sit well with design of the entire development. Because them. So from 2010 to 2013, this area went Quayside is situated within what is now a through a little bit of a lull period, or what I largely residential area, Kishin opted to work call an identity crisis.” with SCDA, an architectural firm known for Caught in this transition from an its work in the luxury residential space. “We unruly bacchanalia to a more serene style needed to take a more organic approach in of waterfront living, the newly sedate the way we took on this development—we

outfit: e r menegildo zegn a nd kishin’s own neighbourhood presented a great opportunity didn’t want to shock the neighbourhood too the store? The next question is: what will it take to get me into the store? We have very interesting conversations about how we need to change, to be relevant and to maintain our relevance.” With Quayside now up and running, new adventures beckon. RB Capital has been approached by overseas parties for the rejuvenation of districts, including some in the Middle East and the US, Kishin reveals. “But what I’d like to do is to see if there are other opportunities within Singapore. Being Singaporean, giving back to society here through projects where I can assist in the revitalisation of neighbourhoods is exciting. That would be my next immediate focus.” Home ground advantage does count for a lot in his business, after all. “Real estate is a very local business. As the saying goes, the value of property can be very different on one side of the street versus the other, and we need to know which side of the street to be on,” Kishin reckons. “That doesn’t mean we are not going to do something overseas, but Singapore is a natural place to look for the next opportunity. I can tell when there’s untapped potential in a certain area when I spend time here, and simply by being local. In a foreign city, that sense of perspective would they can connect with it, not just from a now become a sector struggling to cope with be harder to achieve.” transactional point of view, but also from the onslaught of e-commerce. His choices to date express a certain an emotional point of view,” he believes. “If you don’t have an emotional connection sense of imagination, balanced by savvy “They can spend their Sunday afternoons with a brand, then you’d buy online,” Kishin pragmatism. Early projects include the here with their families, there are lots of points out. “That way, you get your product transformation of 17 dilapidated shophouses options for them to dine out instead of cheaper, and you don’t need to go to a store. collectively known as Cuppage Terrace into a cooking at home. It’s become a community. I need something to get you to the store, bustling F&B enclave. Part of the Emerald Hill Maximising profits is one thing, but what’s and the only thing I can work on is that conservation district, “the restaurants and important is to really understand the emotional connection, and how to give you an bars there are open till late, so when the positioning of an asset in a neighbourhood. experience that you can’t get online.” malls close, that becomes the Fitting into the surroundings, complementing Kishin’s father, Raj Kumar, entered the place to be”. He also speaks fondly of buying much. An architectural firm that only does it, and taking it to next level—that’s hotel business in Singapore, Australia and the former Shell station on the ground floor of hotels might not be able to understand what our approach to staying relevant in the New Zealand beginning in the late 1980s, Coronation Plaza in , whose site the residential feel is like, and that might have longer term.” and is also known as the king of strata retail now boasts a Starbucks that is reliably filled resulted in a more typical commercial hotel for his long-standing stakes in malls such as with students from the surrounding schools, experience that may not sit well with the SITES TO BEHOLD Far East Plaza, Lucky Plaza and Queensway as well as a HSBC branch. In Kuala Lumpur, residents here,” he elaborates. “We have to Connection, emotion, community, Shopping Centre. “In that era, the strata retail he acquired and repositioned what is now the weave into our surroundings; whatever we do relevance—these are the magic words that space was what was relevant, it was what HSBC Bank Building. Opposite Singapore’s here needs to fit like a glove.” echo through many legacy industries today, consumers wanted,” says Kishin when we ask Parliament House on North Bridge Road, It makes good sense to understand and concepts that are increasingly seen as crucial how his approach to development sits with he turned two nondescript office buildings WATERFRONT DELIGHTS With a tastefully curated please one’s primary target audience, and for sustaining brands and businesses through his father. into the modern EFG Bank building. His first selection of bars and restaurants, indeed, Kishin is justifiably proud of how waves of disruption. That these ideas recur “But in this day and age, there have hotel project was the Holiday Inn Express Quayside at Robertson Quay Quayside’s offerings have subtly invigorated often in Kishin’s musings about his work is no been a lot of changes in behaviour. Being in , which was followed by has been described as the the neighbourhood over the past few surprise. Once seen as the safest of bets, real the true entrepreneur that he is, he gets Medical Suites and Park Hotel Soho of Singapore; fine casual months. Embedded within his evaluation estate has not escaped the headwinds of the it. He’s tried buying stuff online just to Farrer Park in Little India. dining concepts such as Publico Ristorante cater of the project are also clues as to how he new digital economy. Take brick-and-mortar experience e-commerce, and that’s changed Much like Quayside, these developments to everyone from expatriates views his company’s strategic direction. retail, which has traditionally been a key his thinking. The first question prompted by quickly acquire the aura of having always to young families “Today, the residents look at Quayside and source of revenue for property developers. It’s that experience was: why do I need to be in been where they are, because they clearly Kishin wears cotton shirt, cashmere sweater and wool jacket, both by Ermenegildo Zegna

Novel eats Summerlong is one of the many new dining concepts at Quayside

meet a distinct need within their location He is well aware that retail players have —for after-hours dining, for after-school been experimenting with different forms of hangouts, for a central space to work, for a innovation, but rightly points out: “There convenient place to stay. In other words, they has not been a formula for success. I see are relevant. As for the next neighbourhoods that gap in terms of a retail experience that in Singapore he has his eye on, Kishin will makes consumers feel excitement and an only say this: “I think there are some areas emotional connection.” that need a bit of a Botox treatment. There As for resorts, he is looking specifically at may be an opportunity for an acquisition the ultra-luxury segment. “There are very few of a sleepy neighbourhood, or one due for brands today that are able to excite travellers a transformation.” looking for that ultra-luxury experience. That’s another opportunity,” he believes. EMOTIONAL “Because of the recent consolidation of CONNECTION hospitality management companies, we don’t There are two sectors that particularly pique have many brands with that ultra‑luxury his interest—retail and resorts. “Within the soul today that can offer something unique. real estate space over the next five years, Most hotel brands in that segment are part I see opportunities in the retail sector. In of large corporate chains, and they feel Asia and globally, retail is going through a that way. When people travel now, they transformation with e-commerce and the way want an experience. They’re not looking for people shop. Mall owners are going through standardised luxury, they’re looking for that a bit of an identity crisis, and malls currently journey that’ll get them out of their daily lives are not curated to be relevant to this new and comfort zones. Few brands are able to environment that we live in today,” he says. understand how to curate that experience, “The value of retail real estate has become that sense of escape. I think on a global basis, a lot more realistic today and there’ll be there’s a gap in that space.” more interesting opportunities in this space Kishin gives the impression of someone for groups like us to acquire, and reinvent a who chooses his words with great traditional sector.” deliberation, and there are more recurring And what would a relevant retail magic words within these assessments— experience look like? For Kishin, there curate, experience, crisis, gap and, above definitely needs to be a convergence of all, opportunity. These words, too, resonate entertainment and technology. “It’s not just across the world today, serving as touchstones about someone coming to a store to buy a for those who know they are living the product. How do I create an experience for transition between old ways and emerging

P HOTOG RAP H e r ’s a ssist nt: ic t n; stylist’s joey G R OOMING : C he yl O w/ I ndigo A tis ns, using Mar c Ja cobs B e a uty; outfit: r menegildo zegn nd kishin’s own my customer? How do I embrace technology ones, and betting they can create brave new while I do that? That’s the future of retail.” worlds attuned to these interesting times.