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Visit EdgeProp.sg to ˎ nd properties, research market trends and read the latest news The week of February 5, 2018 | ISSUE 816-37

Industry Watch On the Market Done Deals Gains and Losses Bullish bids continue Property linked to Prices at Nassim Park, Leedon Road GCB at GLS tenders mysterious deaths up for Ritz-Carlton buoyed fetches $39.8 mil profi t EP4 auction EP5 by new launches EP8 EP10 SAMUEL ISAAC CHUA/THE EDGE SINGAPORE CHUA/THE SAMUEL ISAAC

Frasers Centrepoint rebranded as Frasers Property Even as the group continues to grow its global real estate portfolio, group CEO Panote Sirivadhanabhakdi reaffi rms that Singapore remains a core market. See our Cover Story on Pages 6 and 7. EP2 • EDGEPROP | FEBRUARY 5, 2018 PROPERTY BRIEFS

JLL C&W Located on Lorong 18 Geylang, the 18,259 sq ft EDITORIAL EDITOR | site is about 700m from the Aljunied MRT station. Cecilia Chow The tender closes on Mar 22. HEAD OF RESEARCH | Feily Sofi an CDL appoints AXA veteran Frank Khoo as DEPUTY EDITOR | Lin Zhiqin WRITERS | Angela Teo, Timothy Tay Group CIO DIGITAL WRITER | Fiona Ho On Jan 29, City Developments (CDL) announced the appointment of Frank Khoo as group chief investment COPY-EDITING DESK | Elaine Lim, Evelyn Tung, officer (CIO) beginning Feb 1. Chew Ru Ju, Shanthi Murugiah Khoo was previously global head of Asia at AXA PHOTO EDITOR | Investment Manager — Real Assets from September Samuel Isaac Chua 2008 to November 2017, where he achieved total as- PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | sets under management of $10 billion for Asian cli- Yen Tan ents in Asia and Europe. Khoo has over 20 years of

DESIGN DESK | international experience in fund management, pri- Tan Siew Ching, Christine Ong, Monica Lim, vate equity, acquisition of real estate assets and the Tun Mohd Zafi an Mohd Za’abah repositioning and restructuring of real estate busi- and the upcoming Maxwell MRT stations. The prop- nesses. He has an extensive network of investors, ADVERTISING + Prime bungalow plot off Meyer Road MARKETING on the market for $22 mil erty is at the junction of Craig Road and Neil Road. ranging from insurance companies, pension funds, ADVERTISING SALES A prime bungalow plot off Meyer Road (above, left) It is connected to the Central Expressway, Canton- sovereign wealth funds and high-net-worth individ- DIRECTOR, COMMERCIAL OPERATIONS | has been put up for sale by tender by the trustees of ment Road, New Bridge Road and Eu Tong Sen Street. uals across Asia and Europe. Cowie Tan the estate of the late owner, announced JLL, the sole The tender will close on March 15. Khoo will assist CDL group CEO Sherman Kwek ASSOCIATE ACCOUNT DIRECTOR | Diana Lim marketing agent. The freehold property is located at in establishing a dedicated fund management plat- ACCOUNT MANAGER | 12 Broadrick Road and sits on a 16,160 sq ft plot. Six-storey shophouse on Hongkong form, as well as sourcing for and executing new in- James Chua The asking price is $22 million, which works out to Street for sale at $20 mil vestment opportunities. CIRCULATION about $1,361 psf. A newly refurbished, six-storey commercial shop- DIRECTOR | Victor The 12 Broadrick Road may be subdivided and rede- house on 9 Hongkong Street has been put on the Prime districts lead price recovery for condos EXECUTIVE | veloped into a maximum of three bungalow plots, market for $20 million, announced CBRE, the sole and apartments Malliga Muthusamy, Ashikin Kader subject to approval from planning authorities, says marketing agent. The sale, by expression of interest Resale property prices in the prime districts rose 7.9% CORPORATE Karamjit Singh, senior consultant at JLL. (EOI), is open to both local and foreign buyers and is y-o-y, according to the latest flash values of the NUS CHIEF EXECUTIVE OFFICER | The bungalow is situated in a cluster of about 140 not subject to additional buyer’s stamp duty or sell- Singapore Residential Price Index Series (SRPI) for Bernard Tong two-storey bungalows in an area bounded by Meyer er’s stamp duty. December 2017. PUBLISHER Road, Mountbatten Road and Crescent Road that has The property sits on a 1,691 sq ft plot with a to- Nicholas Mak, ZACD Group executive director, The Edge Property Pte Ltd been designated for detached houses with a minimum tal GFA of about 7,481 sq ft, and is a full commercial attributes the price increase in the prime districts to 150 Cecil Street #13-00 land area of 4,306 sq ft. zone property under the 2014 Master Plan. It is lo- limited new supply, which led buyers to turn to the Singapore 069543 Tel: (65) 6232 8688 The tender will close on March 7. cated within the Upper Circular Road Conservation secondary market. Well-heeled investors are also typ- Fax: (65) 6232 8620 Area, which is the only shophouse zone in the CBD ically among the first to respond to a market recovery Katong Park Towers’ collective under secondary conservation rules where a six-storey by purchasing prime properties, notes Mak. PRINTER KHL Printing Co Pte Ltd sale for $288 mil rear extension is allowed at a maximum plot ratio of The growth in resale prices for the prime districts 57 Loyang Drive The 99-year leasehold Katong Park Towers (above, 4.2, according to CBRE. contributed to the 5.5% increase in overall prices of Singapore 508968 right) has been put up for collective sale for $288 mil- The property underwent major restoration and condominiums and apartments in the same month, Tel: (65) 6543 2222 lion, announced Cushman & Wakefield (C&W), the refurbishment works that added a rear six-storey says Mak. Fax: (65) 6545 3333 sole marketing agent. The property has garnered the extension block, new mechanical and engineer- The SRPI for small units — defined as those with PERMISSION AND requisite 80% consensus by share value and strata ing systems and the installation of mechanical car a floor area of 506 sq ft and below — performed the REPRINTS area for the tender launch. parking lots. worst, with a 2.4% y-o-y growth. This could be partly Material in The Edge Property With a $5.6 million development charge for the ad- Situated between Clarke Quay and Boat Quay, the owing to the weak leasing demand for small units, as may not be reproduced in any form without the written ditional 10% bonus balcony and an estimated lease- area is an up-and-coming work-play lifestyle destina- tenants have more options due to the increasing new permission of the publisher upgrading premium of $51 million, the land rate for the tion frequented by locals and tourists. The property supply of such apartments, reckons Mak. site is projected at about $1,165 psf per plot ratio (ppr), is served by the Clarke Quay MRT station. All four indices are expected to continue to reg- We welcome your comments says Christina Sim, director of capital markets at C&W. The EOI closes on March 16. ister positive growth in 2018, with the SRPI Central and criticism: propertyeditor.sg@ Katong Park Towers is a prime residential devel- continuing to lead the demand, says Mak. “The SRPI bizedge.com opment situated on a 140,758 sq ft site. It is zoned Geylang site on the market for $36 mil Central could increase by up to 10% y-o-y by Decem- Pseudonyms are allowed but for residential use with a plot ratio of 2.1 and a max- On Jan 31, marketing agent ET&Co launched a site ber 2018,” he estimates. please state your full name, imum building height of up to 24 storeys, according at Geylang for sale by tender. The property, which Mak reckons that demand from investors and address and contact number for to the 2014 Master Plan. is held under single ownership, has an asking price homebuyers for prime district properties will contin- us to verify. A future residential development could yield about of $36 million. ue to grow this year while supply of such properties 388 units at an average size of 753 sq ft, subject to It was re-zoned for “Commercial/Institution” use will remain limited. approval, says C&W. with a gross plot ratio of 2.8 in 2015. This means it On the other hand, the continued stream of supply The property is close to Chung Cheng High School, can be developed into an eight-storey development of new residential units in the non-central regions is Dunman High School and the Canadian Internation- with a maximum allowable GFA of 51,124 sq ft, ac- expected to “cap the growth” of the SRPI Non-Cen- al School. It is about 200m to the future Katong Park cording to ET&Co. tral at between 4% and 7% y-o-y in 2018, says Mak. MRT station, which is set to be completed in 2023. To redevelop the site for commercial use at a plot It is connected to Mountbatten Road, Nicholl High- ratio of 2.8, the developer would have to pay an es- Jalan Besar Plaza may relaunch collective way and the East Coast Parkway. timated development charge of $12.5 million, says sale tender in April The tender will close on March 15. ET&Co. There is no development charge if the site Singapore-listed aluminium products and compo- is developed for institutional use. The land cost will nents distribution company New Wave Holdings an- Collective sale of Chinatown be $948 psf ppr for commercial use and $704 psf ppr nounced on Jan 29 that the tender exercise for the Plaza for $270 mil for institutional use. sale of Jalan Besar Plaza, which closed on Nov 10, The freehold Chinatown Plaza (right) has been put Subject to approval, the site can be redeveloped 2017, and was followed by 10 weeks of private trea- on the market for collective sale, announced Edmund into restaurants, shops, offices, commercial schools ty talks, had ended without a sale. Tie & Company (ET&Co), the sole marketing agent. and association premises, among others, says ET&Co. But New Wave Holdings added that Jalan Besar The mixed-use development sits on a 33,953 sq Plaza is likely to be launched for collective sale again ft plot and is zoned for commercial and residential ET&CO in April. The company owns at least one strata of- use under the 2014 Master Plan. The asking price fice and three strata shop units within the mixed-use is $270 million, or $1,989 psf ppr. No development complex, located at the corner of Jalan Besar and charge is payable. Kitchener Road. Subject to approval, the site can be redeveloped up The existing 16-storey building comprises 155 stra- to its existing gross floor area (GFA) of about 135,742 ta units, of which 44 are apartments with sizes be- sq ft, exceeding the permissible plot ratio of 3.5 as tween 915 and 1,593 sq ft. The remaining commer- indicated in the Master Plan, says ET&Co. cial units are a mix of strata offices and shops with It could be redeveloped into a mixed commercial sizes of up to 2,809 sq ft. and residential project that includes a boutique res- Jalan Besar Plaza sits on a 53,043 sq ft freehold idential component to attract millennials and inves- site that is zoned for commercial and residential use, tors, says Swee Shou Fern, senior director of invest- with a plot ratio of 3.0 under the 2014 Master Plan. ment advisory at ET&Co. Subject to planning approval, However, URA gave approval for the site to be rede- the property is ideal to be redeveloped into serviced veloped according to the existing approved use, based apartments or a hotel because of its vibrant location on the existing GFA of 179,697 sq ft, which translates and connectivity, she adds. into a slightly higher plot ratio of 3.388. — Compiled The area is served by the Tanjong Pagar, Outram by Timothy Tay & Angela Teo E EDGEPROP | FEBRUARY 5, 2018 • EP3 EP4 • EDGEPROP | FEBRUARY 5, 2018 INDUSTRY WATCH CDL leads pack as bullish bids continue at government land tenders

PICTURES: URA | BY CECILIA CHOW & ANGELA TEO |

he past fortnight has seen a flurry of not just the close of tenders for collective sale sites but also for 99-year leasehold sites sold under the govern- Tment land sales (GLS) programme. Jan 30 marked the tender closing of three residential sites: on Handy Road across from Plaza Singapura shopping centre and the Dhoby Ghaut MRT interchange station; West Coast Vale, off West Coast Road; and Chong Kuo Road, off Sembawang Road. While the batch tender closing of three residential sites has dispersed competition among developers — with six to 10 bids received versus an average of 13 bids for sites award- ed in 2017 — “developers across the board continue to price in a contin- ued recovery in end-residential prices, with estimated breakeven prices at City Developments beat 10 bidders with its bid of $212 million ($1,722 psf ppr) for the Handy Road site or above market prices today”, notes Louis Chua, Credit Suisse ana lyst, in increase our local landbank.” a report on Jan 31. “Rising land bids CDL also announced its plan to will continue to be the catalyst for build a 200-unit residential develop- higher prices from 2018.” ment on the Handy Road site, com- prising three blocks spanning eight CDL a big winner to 10 storeys, with basement park- Following its $906.7 million en bloc ing. A conserved building on the site purchase of Amber Park in October will be converted into a clubhouse. 2017, listed giant property group, Meanwhile, the West Coast Vale site City Developments (CDL) emerged will be developed into twin 36-storey the top bidder for two of the three towers with about 730 apartments GLS sites that closed on Jan 30: The and basement carpark. Handy Road site in prime District 9, for which it submitted a bid of $212 Optimism in high-end market million ($1,722 psf per plot ratio); and fuels developers’ confidence the West Coast Vale site, for which According to Credit Suisse, CDL’s top it bid $472.4 million ($800 psf ppr). bid of $1,722 psf ppr for the Handy There were 10 bids for the Handy Road site was slightly lower than the Road GLS site, and six for the West $1,733 psf ppr paid by Frasers Cen- City Developments beat five others to win the site at West Coast Vale with a bid of $472.4 million ($800 psf ppr) Coast Vale site. For the Handy Road trepoint in December for the former site, CDL won by a margin of 12.3%, Zouk discotheque site on Jiak Kim um — comprising Hoi Hup, Sunway Co’s CSC Land in February last year estimates the breakeven cost on the while the margin for the West Coast Street, also in District 9. Development and SC Wong — for for the yet-to-be-launched 520-unit site at $1,100 psf and the new devel- Vale site was a narrower 0.7%. Still, CDL’s bid is “bullish”, notes the Sophia Hills site (also a 99-year Twin Vew condo. opment to have an average selling “We have been very selective and Nicholas Mak, ZACD Group head of leasehold GLS site) in March 2013, As at end-December, the adjacent price ranging from $1,300 to $1,350 see great potential in the two sites,” research & consultancy. Based on the adds Mak. Furthermore, there has 752-unit Parc Riviera by EL Develop- psf. Newly launched projects nearby Sherman Kwek, CDL group CEO said land price of $1,722 psf ppr, he es- been no GLS site made available in ment was 97% sold at an average — the freehold The Brooks I & II — in a statement on the evening of Jan timates that the breakeven price for the vicinity since then. price of $1,200 psf — 13 months af- have seen units transacted at an av- 30, upon winning the two sites. “As the new project ranges from $2,340 The 493-unit Sophia Hills is ex- ter it was launched for sale, says Tri- erage of $1,275 psf over the past year. Singapore’s residential market begins to $2,400 psf. pected to obtain Temporary Occupa- cia Song, head of research at Colliers The 46,101 sq ft site on Chong to gradually recover, we will contin- CDL’s bid is 49% higher than the tion Permit anytime soon. The project International Singapore. “This could Kuo Road has a maximum gross floor ue to seek suitable opportunities to $1,157 psf ppr paid by the consorti- is more than 95% sold, with recent have increased the confidence of de- area of 64,551 sq ft. It can be devel- transactions averaging $2,000 psf. velopers in the location despite the oped into a boutique condominium Since the site on Handy Road is closer abundant supply.” with 70 to 85 units. While the site is to the Dhoby Ghaut MRT interchange Song estimates CDL’s breakeven located in an established and quiet station, Mak concedes that “a certain price for the project at West Coast private residential estate with a limit- land price premium is expected”. Vale at $1,250 psf, with an average ed supply of new condos in the area, Optimism for the high-end market selling price of $1,400 to $1,500 psf. there are several other vacant land has also been fuelled by the strong CDL is no stranger to the West Coast parcels in the vicinity that could be take-up rate at CDL’s New Futura pro- neighbourhood, having developed launched for sale in the future, notes ject, which was previewed on Jan 18. Botannia, Hundred Trees and Monte- Mak. This could spell new competi- It has sold 35 of 124 units at an ave- rey Park there over the past 12 years. tion for the upcoming development rage price of $3,200 psf. Credit Suisse’s on Chong Kuo Road, he adds. Chua expects residential prices to rise Competitive bids for “Bidding for all three sites was 5% to 10% and transaction volume Sembawang site bullish, with top bids exceeding to rise 36% this year. For the Chong Kuo Road site, of the or at the top end of expectations,” eight bids received, the top three says Ong Teck Hui, JLL national di- West Coast Vale premium submitted were all above $43 mil- rector of research and consultancy. While the winning margin for the lion and within a narrow margin of “This was despite the close of the West Coast Vale site was just 0.7%, 1.7%, notes Song. The top bid of batch tender, which did not seem to CDL’s top bid of $800 psf ppr is 35% $43.95 million ($681 psf ppr) came temper bidding, as well as the avail- The top bid of $43.95 million ($681 psf ppr) for the Chong Kuo Road site came from a higher than the $592 psf ppr paid by from a joint venture between Lian ability of collective sale sites on the joint venture between Lian Soon Holdings and OKP Land China Construction Development Soon Holdings and OKP Land. Song market.” E EDGEPROP | FEBRUARY 5, 2018 • EP5 ON THE MARKET House linked to mysterious deaths put up for auction at $1.7 mil to $1.9 mil

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY TIMOTHY TAY |

n Feb 27, Knight Frank will be putting up for auction a terraced house at 17 Jalan Batai, just off Upper Thom- son Road. The vendor is Othe Public Trustee’s Office (PTO), the administrator for the estates of deceased persons. The owners of the house are believed to be two elderly sisters, Pearl and Ruby Tan. In 2015, the High Court issued an order that they be presumed dead af- ter skeletal remains were found in the house in September that year. An un- suspecting contractor engaged by the Building and Construction Authority to clear debris from the house dis- covered a human skull and femur in the guest room. After the discovery, the police reportedly uncovered oth- er skeletal remains in the same guest room, with some buried in soil. It is believed that they are the remains of Most potential homebuyers are unlikely to be deterred by the property’s morbid history, as it is a rare find one of the sisters. Those were not the only set of keting the property. There was one this size is estimated to range from skeletal remains to be found in the other sale by PTO just last year: for $800,000 to $1 million. house. Almost a decade earlier, when a 398 sq ft studio apartment at The The most recent transaction on National Environmental Agency (NEA) Cotz in Telok Kurau that was put Jalan Batai was that of another in- officers checked the house for mosqui- up for auction in August by Knight termediate terraced house farther to breeding, they reportedly chanced Frank. It was sold under the hammer down the row. It changed hands for upon a human skeleton lying on top for $500,000 ($1,255 psf), according $2.83 million ($1,565 psf) earlier this of a toilet. to a caveat lodged on Aug 29, 2017. month, according to a caveat lodged As the Tan sisters neither left a will The guide price for the house on with URA Realis. The seller is likely nor had legal beneficiaries, the house Jalan Batai is $1.7 million to $1.9 mil- to have undertaken extensive renova- has been in state possession since lion. Based on the freehold site area tion of the house, having purchased 2015, under the Intestate Succession of 1,720 sq ft, the price translates it in 2010 for $1.48 million ($817 psf). Act. About 1½ years ago, PTO took into between $988 and $1,105 psf. As the houses on Jalan Batai are an unprecedented step by asking in- While most of the neighbouring just off Upper Thomson Road — with terested parties to submit a claim on houses have been either torn down Lower Peirce Reservoir Park just across the sisters’ estate. A cousin, two neph- and redeveloped into 2½-storey hous- the road and the Bishan Ang Mo Kio ews and a niece on the paternal side es or extensively renovated, the house Park nearby — it is a tranquil estate The skeletal remains found in the dilapidated house in 2006 and 2015 are suspected had stepped forward and expressed at 17 Jalan Batai remains forlorn, surrounded by greenery, notes Lee. to be those of the previous owners their interest in claiming the estate having been vacant all these years. “Those interested in the property but were unsuccessful. Consequent- The new owners are likely to de- offered for sale by PTO will have to after the auction, and the property tearing down the house and rebuild- ly, the PTO engaged Knight Frank to molish the original structure and re- bid at the auction on Feb 27,” says will not be put up for auction again ing it,” says Lee. “In an established list the property for auction. develop it into a 2½-storey house Lee, adding that the process is un- subsequently.” landed housing area like the row of PTO sales are rare, says Tricia with a plot ratio of 0.7, says Sharon like how it is for other properties put Most potential homebuyers are houses on Jalan Batai, it’s hard to Tan, Knight Frank deputy director Lee, Knight Frank head of auction. up for auction. “There will be no pri- unlikely to be deterred by the prop- find a house with redevelopment of auction and sales, who is mar- The cost of building a new house of vate treaty deals conducted before or erty’s morbid history. “They will be potential these days.” E

INDUSTRY WATCH

Housing rental market to stabilise in 2018

| BY CECILIA CHOW | “Even though the overall rental index contin- last year was also more than 20% lower than prospects of rents stabilising,” he says. ued to drop in 4Q2017, the rate of decline on that in 2016. As the Singapore economy picks up pace in he private residential leasing market may a yearly basis has decelerated,” he observes. About 10,000 private housing units are ex- 2018, more foreign labour, including working continue to remain weak, but there are The recovery in the residential leasing mar- pected to be completed in 2018, notes ZACD professionals, will be hired, says Christine Li, Tsigns that it could stabilise this year, says ket is due to a decline in the vacancy rate from Group’s Mak. “This is lower than the three-year director and head of research at Cushman & Nicholas Mak, executive director and head of 8.4% in 2016 to 7.8% in 2017. This was mainly average absorption rate of about 17,000 units Wakefield. “Coupled with the removal of the research & consultancy of ZACD Group. The because of a decline in the supply of newly a year from 2015 to 2017,” he adds. Therefore, older en bloc developments, occupancy rates private residential rental index fell 0.9% q-o-q completed units — which hit a four-year low he reckons the vacancy rate could “break be- for private properties could start to improve.” in 4Q2017, after remaining unchanged in the of 16,449 units — compared with a new take- low 7%” by year-end. Nevertheless, non-landed rents in the Outside previous quarter. For the whole of 2017, rent- up level of 16,852 units in 2017, according JLL’s Ong agrees. “In the face of more fa- Central Region could still come under pressure, als of private residential properties fell 1.9% to Ong Teck Hui, JLL national director of re- vourable economic and business conditions, given that 50% of incoming supply is expect- y-o-y, compared with a decline of 4% in 2016. search. The number of newly completed units vacancy rates are likely to decline, raising the ed to be in OCR from 2018 to 2022. E EP6 • EDGEPROP | FEBRUARY 5, 2018 COVER STORY

PICTURES: FRASERS PROPERTY LIMITED

Frasers Property and Charoen’s TCC Group are jointly developing the Frasers US$3.5 billion One Bangkok Centrepoint rebranded as Frasers Property

Even as the group continues to grow its global real estate portfolio, group CEO Panote Sirivadhanabhakdi reaffirms that Singapore remains a core market

| BY LIN ZHIQIN | and a stapled trust. Frasers Property also ac- quired Australian property group Australand in ince taking the helm as group CEO of 2014, and renamed it Frasers Property the fol- Singapore-listed property group Frasers lowing year. The acquisition helped establish Centrepoint in October 2016, Panote Australia as a second core market for the group. Sirivadhanabhakdi has moved his fam- According to Panote, the rebranding of Frasers ily to the city state. “I spend 40% to Centrepoint to Frasers Property is part of an S50% of my time in Singapore,” says Panote, “ongoing initiative” to transform the group. 39, at a press conference a fortnight ago. The “All our development businesses, retail, com- rest of his time is spent shuttling across Aus- mercial and business parks as well as logis- tralia, Europe and Thailand, the group’s three tics and industrial properties around the world other markets. will operate under one brand — Frasers Prop- Panote is the youngest son of Thai magnate erty,” he adds. Charoen Sirivadhanabhakdi, who is ranked by Frasers Property’s real estate portfolio has Forbes as the second-richest in the country, with been reshaped over the past five years, with a net worth of US$19.9 billion ($26 billion). more than half of it located outside Singapore Charoen controls Thai Beverage, Thailand’s today. With greater geographical diversifica- largest brewer, famous for its Chang beer and tion, the group will be able to strengthen its Sang Som rum, as well as his privately held income base and improve capital productiv- property firm TCC Land. ity, says Panote. It will also help the group In 2013, Charoen’s TCC Assets took over weather the different property market cycles Singapore’s Fraser and Neave, which val- and achieve a more balanced income stream, ued the conglomerate with beverage, proper- he adds. Frasers Property has a global head- ty and publishing businesses at $13.7 billion. count of 5,500 people across the world today. It was considered the biggest takeover in Sin- gapore’s corporate history. A year later, the Growing global footprint property arm was relisted on the Singapore Last year, Frasers Property acquired a 99.45% Exchange as Frasers Centrepoint, after being stake in Netherlands-headquartered Geneba delisted in 2002. Properties and a 40.95% stake in Thailand-head- quartered TICON Industrial Connection Public Portfolio rebalancing Co. In September, the group purchased four Frasers Centrepoint, which had a market cap- business parks in the UK. It also recently an- italisation of $6.26 billion at market close on nounced the proposed acquisitions of a fifth Jan 31, will be renamed Frasers Property on business park in the UK through a 50:50 joint Feb 1. Together with its subsidiaries, Frasers venture with Frasers Commercial Trust, and Property had total assets under management six cross-dock facilities in Germany. worth $27 billion as at end-September 2017, In Bangkok, Frasers Property and Charoen’s which is more than double the $10.7 billion in TCC Group are jointly developing the US$3.5 2012. This includes its three listed real estate billion One Bangkok, a giant mixed-use scheme Frasers Property’s mixed-use schemes include Central Park in Sydney and Northpoint City in Singapore investment trusts on the Singapore Exchange with office towers, condominium towers and EDGEPROP | FEBRUARY 5, 2018 • EP7 COVER STORY

ALBERT CHUA/THE EDGE SINGAPORE

The 920-unit North Park Residences is fully sold shopping malls on a 16.7ha site. It is consid- unit North Park Residences, which sits on top ered the largest mixed-use development in of Northpoint City; and Seaside Residences. Thailand, says Panote, and this is in line with Completed in 4Q2017, Northpoint City is con- Frasers Property’s mixed-use schemes in other sidered Singapore’s largest mall in the north, major cities, such as Central Park in Sydney with more than 400 retail and dining options. and Northpoint City in Singapore. It is part of the 1.33 million sq ft Northpoint Singapore continues to be a core market City integrated development, which includes for Frasers Property, though. In December, the North Park Residences, an air-conditioned bus group paid $955.4 million ($1,733 psf ppr) for interchange and an underground-link mall to the former Zouk site on Jiak Kim Street. The Yishun MRT station. The development includes 99-year leasehold site of 145,117 sq ft can be the Nee Soon Central Community Club and the developed into a new 36-storey, 525-unit resi- Yishun Public Library. dential development with commercial units on Meanwhile, the 841-unit Seaside Residences the first level. Located in the Robertson Quay was launched last April. It is a joint develop- area in prime District 9, the site has premium ment between Frasers Property and construc- frontage on the Singapore River. According to tion company Keong Hong as well as Japanese Panote, the group will continue to bid selec- developer Sekisui House. Seaside Residences tively for sites. is about 70% sold, with a median sale price The new development on Jiak Kim Street is of $1,747 psf in December 2017. expected to be launched later this year. Panote sees Frasers Property making a differ- ence in major cities and transforming the city- ‘Transforming cityscape’ scape. “For us, real estate is more than bricks Existing residential developments by Frasers and mortar; it is about creating spaces where Property in Singapore include the 628-unit Parc people can thrive,” he says. “It’s about build- Life executive condo in Sembawang; the 920- ing communities and shaping lives.” E Seaside Residences is about 70% sold, less than a year after its launch

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE URA

Panote: Real estate is about creating spaces where people can thrive, building communities and shaping lives In December, Frasers Property paid $955.4 million ($1,733 psf ppr) for the former Zouk site on Jiak Kim Street EP8 • EDGEPROP | FEBRUARY 5, 2018 DONE DEALS Prices at Nassim Park, Ritz-Carlton buoyed by new launches

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY TIMOTHY TAY | to a caveat lodged on Jan 22. At the start of the month, a 3,057 sq rices in the luxury resi- ft, four-bedroom unit on the 31st dential segment are likely floor of the 36-storey tower was to continue to rise on the sold for $11.48 million ($3,755 psf). back of a strong economy According to Savills’ Tan, prices and a property market up- at luxury condos such as Ritz-Carl- Pcycle, says George Tan, head of ton Residences are trending in line residential projects at Savills Singa- with new launches. It is happening pore. “This includes new launches not only in the traditional prime and resales in the luxury market,” Districts 9, 10 and 11, but also in he adds. District 1 in the Marina Bay and Tan says the preview of City De- CBD core. velopments’ New Futura on Leo- At the 1,042-unit Marina One nie Hill Road had injected a dose Residences, a 1,528 sq ft, three-bed- of optimism into the market at the room unit on the 29th floor of one start of the year. At least 34 units of the twin 34-storey towers was in the 124-unit luxury development sold for $4.59 million ($3,004 psf). are said to have been sold at an This is the second time that prices at average price of $3,200 psf. “Up- Marina One crossed the $3,000 psf coming launches should sustain threshold. Last May, a 2,250 sq ft, the optimism,” he adds. four-bedroom unit on the 32nd Besides New Futura, units in floor was sold for $7.1 million other luxury condos have also ($3,157 psf). changed hands for more than $3,000 Each tower at Marina One Res- psf. For instance, a 3,466 sq ft, idences contains 521 units. The four-bedroom unit at Nassim Park first tower was launched in Octo- Residences fetched $12 million ber 2014, and more than 80% of ($3,462 psf), according to a cave- the units have been sold. The sec- at lodged on Jan 22. The unit last ond tower is slated for launch later changed hands for $13.2 million this year. ($3,800 psf) in November 2013. While there has been an in- The 100-unit freehold Nassim Park crease in both transactions and Residences was fully sold and com- prices, there has been no indi- pleted in 2011. cation that a bubble is forming, Meanwhile, a 2,831 sq ft, notes Savills’ Tan. He believes in- three-bedroom unit on the 19th vestors will continue to be cau- floor of the The Ritz-Carlton Resi- tious, especially with more pro- dences Singapore Cairnhill fetched jects in the pipeline for launch $9 million ($3,179 psf), according later this year. E A 3,466 sq ft, four-bedroom unit at Nassim Park Residences fetched $12 million ($3,462 psf) when it was sold on Jan 22

 Singapore — by postal district LOCALITIES DISTRICTS LAND AREA/ NETT UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE Orchard/Tanglin/Holland 9 and 10 ARTRA Apartment 99 years Jan 20, 2018 1,227 1,814,999 - 1,479 Uncompleted New Sale Newton/Bukit Timah/Clementi 11 and 21 ARTRA Apartment 99 years Jan 20, 2018 1,227 1,899,999 - 1,548 Uncompleted New Sale Balestier/MacPherson/Geylang 12 to 14 ARTRA Apartment 99 years Jan 21, 2018 1,044 1,778,500 - 1,703 Uncompleted New Sale East Coast 15 and 16 HIGHLINE RESIDENCES # Condominium 99 years Jan 21, 2018 10,559 20,176,500 - 1,911 Uncompleted New Sale Changi/Pasir Ris 17 and 18 QUEENS PEAK # Condominium 99 years Jan 21, 2018 7,535 13,373,000 - 1,775 Uncompleted New Sale THE CREST Condominium 99 years Jan 18, 2018 1,216 2,142,000 - 1,761 2017 Resale Serangoon/Thomson 19 and 20 THE CREST Condominium 99 years Jan 19, 2018 947 1,798,000 - 1,898 2017 Resale West 22 to 24 THE METROPOLITAN Condominium 99 years Jan 16, 2018 1,787 2,110,000 - 1,181 2009 Resale North 25 to 28 CONDOMINIUM District 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years Jan 16, 2018 1,335 2,050,000 - 1,536 2004 Resale CARIBBEAN AT KEPPEL BAY Condominium 99 years Jan 18, 2018 926 1,520,000 - 1,642 2004 Resale HARBOUR VIEW TOWERS Condominium 99 years Jan 22, 2018 1,615 1,510,000 - 935 1994 Resale THE INTERLACE Condominium 99 years Jan 16, 2018 1,066 1,368,888 - 1,285 2013 Resale TURQUOISE Condominium 99 years Jan 18, 2018 2,400 3,580,000 - 1,491 2010 Resale District 5 BOTANNIA Condominium 956 years Jan 18, 2018 1,270 1,415,000 - 1,114 2009 Resale CLEMENTIWOODS Condominium 99 years Jan 19, 2018 2,702 2,428,000 - 899 2010 Resale CONDOMINIUM HUNDRED TREES Condominium 956 years Jan 16, 2018 1,302 1,630,000 - 1,251 2013 Resale LYNNSVILLE 331 Terrace Freehold Jan 19, 2018 3,455 2,080,000 - 602 2009 Resale FABER WALK Semi-Detached Freehold Jan 18, 2018 3,531 3,900,000 - 1,104 1977 Resale PARC RIVIERA Condominium 99 years Jan 20, 2018 904 1,210,000 - 1,338 Uncompleted New Sale SEAHILL Condominium 99 years Jan 19, 2018 1,130 1,510,000 - 1,336 2016 Resale THE CLEMENT CANOPY Apartment 99 years Jan 18, 2018 1,109 1,661,000 - 1,498 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years Jan 20, 2018 657 1,125,000 - 1,713 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years Jan 21, 2018 1,109 1,643,000 - 1,482 Uncompleted New Sale THE MAYLEA Condominium Freehold Jan 19, 2018 990 1,368,888 - 1,382 2008 Resale THE ORIENT Apartment Freehold Jan 21, 2018 721 1,394,200 - 1,933 2017 New Sale THE ROCHESTER Apartment 99 years Jan 18, 2018 1,206 1,715,000 - 1,423 2011 Resale THE TRILINQ Condominium 99 years Jan 16, 2018 1,345 1,703,000 - 1,266 2017 New Sale Residential transactions with contracts dated Jan 16 to 23 THE TRILINQ Condominium 99 years Jan 16, 2018 1,345 1,674,000 - 1,244 2017 New Sale THE TRILINQ Condominium 99 years Jan 16, 2018 1,518 1,738,000 - 1,145 2017 New Sale LAND AREA/ NETT UNIT THE TRILINQ Condominium 99 years Jan 16, 2018 1,518 1,768,000 - 1,165 2017 New Sale FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF THE TRILINQ Condominium 99 years Jan 16, 2018 1,345 1,750,000 - 1,301 2017 New Sale PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE THE TRILINQ Condominium 99 years Jan 16, 2018 1,345 1,738,000 - 1,292 2017 New Sale District 1 District 8 MARINA BAY SUITES Condominium 99 years Jan 22, 2018 1,593 3,280,000 - 2,059 2013 Resale CARLYX RESIDENCE Apartment Freehold Jan 23, 2018 1,389 1,485,000 - 1,069 2006 Resale MARINA ONE RESIDENCES Apartment 99 years Jan 18, 2018 1,528 4,591,410 - 3,004 2017 New Sale CITY SQUARE RESIDENCES Condominium Freehold Jan 22, 2018 1,206 1,810,000 - 1,501 2008 Resale ONE SHENTON Apartment 99 years Jan 23, 2018 1,109 1,700,000 - 1,533 2011 Resale CITYLIGHTS Condominium 99 years Jan 18, 2018 678 1,100,000 - 1,622 2007 Resale District 2 R66 APARTMENTS Apartment Freehold Jan 17, 2018 581 776,000 - 1,335 2007 Resale 76 SHENTON Apartment 99 years Jan 19, 2018 624 1,250,000 - 2,002 2014 Resale STURDEE RESIDENCES Condominium 99 years Jan 16, 2018 947 1,419,800 - 1,499 Uncompleted New Sale SPOTTISWOODE SUITES Apartment Freehold Jan 18, 2018 441 1,030,000 - 2,334 2017 Sub Sale SUITES 123 Apartment Freehold Jan 16, 2018 581 780,000 - 1,342 2011 Resale WALLICH RESIDENCE Apartment 99 years Jan 19, 2018 1,787 4,924,000 - 2,756 2017 New Sale THE MERLOT Apartment Freehold Jan 19, 2018 883 1,050,000 - 1,190 2009 Resale AT TANJONG PAGAR CENTRE District 9 District 3 111 EMERALD HILL Apartment Freehold Jan 16, 2018 2,120 4,290,000 - 2,023 2011 Resale ARTRA Apartment 99 years Jan 18, 2018 1,410 2,363,400 - 1,676 Uncompleted New Sale ESPADA Apartment Freehold Jan 18, 2018 646 1,350,000 - 2,090 2013 Resale ARTRA Apartment 99 years Jan 18, 2018 1,044 1,786,600 - 1,711 Uncompleted New Sale MACKENZIE 88 Apartment Freehold Jan 16, 2018 710 955,000 - 1,344 2009 Resale EDGEPROP | FEBRUARY 5, 2018 • EP9 DONE DEALS

Residential transactions with contracts dated Jan 16 to 23

LAND AREA/ NETT UNIT LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE JALAN JINTAN Terrace Freehold Jan 17, 2018 1,647 4,908,000 - 2,974 Unknown Resale D’NEST Condominium 99 years Jan 18, 2018 936 1,050,000 - 1,121 2017 Sub Sale NEW FUTURA # Condominium Freehold Jan 21, 2018 46,672 148,366,800 - 3,179 2017 New Sale D’NEST Condominium 99 years Jan 19, 2018 1,410 1,410,000 - 1,000 2017 Sub Sale PARC SOPHIA Apartment Freehold Jan 23, 2018 474 878,000 - 1,854 2011 Resale D’NEST Condominium 99 years Jan 22, 2018 775 810,000 - 1,045 2017 Sub Sale SOPHIA HILLS Condominium 99 years Jan 20, 2018 570 1,315,000 - 2,305 Uncompleted New Sale DOUBLE BAY RESIDENCES Condominium 99 years Jan 17, 2018 1,819 1,620,000 - 891 2012 Resale THE COSMOPOLITAN Condominium Freehold Jan 18, 2018 1,141 2,450,000 - 2,147 2008 Resale LIVIA Condominium 99 years Jan 17, 2018 1,345 1,150,000 - 855 2011 Resale THE RITZ-CARLTON RESIDENCES Apartment Freehold Jan 22, 2018 2,831 9,000,000 - 3,179 2011 Resale MELVILLE PARK Condominium 99 years Jan 18, 2018 1,475 920,000 - 624 1996 Resale SINGAPORE CAIRNHILL MODENA Condominium 99 years Jan 18, 2018 1,356 1,280,000 - 944 2001 Resale District 10 OASIS @ ELIAS Condominium 99 years Jan 18, 2018 1,249 918,000 - 735 2011 Resale DUCHESS ROYALE Apartment 999 years Jan 22, 2018 1,195 1,930,000 - 1,615 2013 Resale RIPPLE BAY Condominium 99 years Jan 18, 2018 764 875,000 - 1,145 2015 Resale GLENTREES Condominium 999 years Jan 19, 2018 1,711 2,550,000 - 1,490 2005 Resale THE ALPS RESIDENCES Condominium 99 years Jan 20, 2018 936 1,075,000 - 1,148 Uncompleted New Sale GOODWOOD RESIDENCE Condominium Freehold Jan 18, 2018 1,119 3,000,000 - 2,680 2013 Resale THE ALPS RESIDENCES Condominium 99 years Jan 21, 2018 936 1,080,000 - 1,153 Uncompleted New Sale LOFT @ NATHAN Apartment Freehold Jan 22, 2018 484 880,000 - 1,817 2014 Resale THE RIVERINA Terrace 99 years Jan 22, 2018 1,615 1,670,000 - 1,032 2000 Resale LEEDON ROAD Detached Freehold Jan 18, 2018 43,927 57,500,000 - 1,309 Unknown Resale District 19 NASSIM PARK RESIDENCES Condominium Freehold Jan 22, 2018 3,466 12,000,000 - 3,462 2011 Resale CARDIFF RESIDENCE Condominium 99 years Jan 19, 2018 420 540,000 - 1,286 2014 Resale ONE JERVOIS Condominium Freehold Jan 16, 2018 1,324 2,300,000 - 1,737 2009 Resale CHARLTON 18 Terrace Freehold Jan 22, 2018 3,391 2,798,888 - 825 2016 Resale ROBIN RESIDENCES Condominium Freehold Jan 19, 2018 1,066 2,809,000 - 2,636 2015 Resale CHARLTON 27 Terrace Freehold Jan 22, 2018 5,952 3,450,000 - 580 2016 Resale RV RESIDENCES Condominium 999 years Jan 16, 2018 850 1,785,000 - 2,099 2015 Resale COMPASS HEIGHTS Apartment 99 years Jan 16, 2018 1,324 1,088,000 - 822 2002 Resale THE ASANA Apartment Freehold Jan 20, 2018 635 1,726,758 - 2,719 2017 New Sale EVERGREEN PARK Apartment 99 years Jan 18, 2018 1,249 845,000 - 677 1999 Resale THE MARBELLA Condominium Freehold Jan 19, 2018 1,582 2,588,888 - 1,636 2005 Resale GOLDEN HILL ESTATE Terrace Freehold Jan 19, 2018 1,679 2,400,000 - 1,432 1976 Resale THE NASSIM Condominium Freehold Jan 17, 2018 6,598 17,000,000 - 2,576 2015 Resale KINGSFORD WATERBAY Apartment 99 years Jan 16, 2018 689 992,556 - 1,441 Uncompleted New Sale THE ORANGE GROVE Condominium Freehold Jan 17, 2018 2,960 6,500,000 - 2,196 2010 Resale KINGSFORD WATERBAY Apartment 99 years Jan 16, 2018 1,033 1,390,000 - 1,345 Uncompleted New Sale THE SOLITAIRE Condominium Freehold Jan 23, 2018 1,970 2,900,000 - 1,472 2009 Resale KINGSFORD WATERBAY Apartment 99 years Jan 16, 2018 689 1,010,431 - 1,467 Uncompleted New Sale VICTORIA PARK VILLAS Semi-Detached 99 years Jan 19, 2018 3,111 5,508,000 - 1,771 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years Jan 16, 2018 689 1,011,170 - 1,468 Uncompleted New Sale VICTORIA PARK VILLAS Semi-Detached 99 years Jan 20, 2018 2,508 5,500,000 - 2,193 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years Jan 16, 2018 689 993,310 - 1,442 Uncompleted New Sale VICTORIA PARK VILLAS Semi-Detached 99 years Jan 20, 2018 2,293 5,000,000 - 2,181 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years Jan 17, 2018 883 1,206,185 - 1,367 Uncompleted New Sale District 11 KINGSFORD WATERBAY Apartment 99 years Jan 19, 2018 678 976,618 - 1,440 Uncompleted New Sale ADRIA Apartment Freehold Jan 17, 2018 850 1,550,000 - 1,823 2013 Resale KINGSFORD WATERBAY Apartment 99 years Jan 19, 2018 689 983,126 - 1,427 Uncompleted New Sale ADRIA Apartment Freehold Jan 18, 2018 850 1,550,000 - 1,823 2013 Resale KOVAN MELODY Condominium 99 years Jan 18, 2018 872 990,000 - 1,135 2006 Resale GENTLE VILLAS Semi-Detached 99 years Jan 17, 2018 3,068 3,080,000 - 1,004 1995 Resale JALAN GOTONG ROYONG Terrace Freehold Jan 17, 2018 1,302 2,030,000 - 1,565 1963 Resale HILLCREST VILLA Terrace 99 years Jan 23, 2018 3,154 2,880,000 - 913 2009 Resale LOWLAND ROAD Terrace Freehold Jan 18, 2018 2,142 2,800,000 - 1,306 1975 Resale LORNIE ROAD Detached Freehold Jan 19, 2018 6,039 13,800,000 - 2,284 2017 Resale ST. HELIER’S AVENUE Semi-Detached Freehold Jan 22, 2018 5,328 5,050,000 - 947 1985 Resale NOVENA COURT Apartment Freehold Jan 22, 2018 861 1,020,000 - 1,185 Unknown Resale PRIVE EC 99 years Jan 19, 2018 1,238 880,000 - 711 2013 Resale SKY@ELEVEN Condominium Freehold Jan 19, 2018 2,271 3,765,000 - 1,658 2010 Resale SERANGOON GARDEN ESTATE Terrace 999 years Jan 16, 2018 2,648 2,692,000 - 1,018 Unknown Resale THE ARCADIA Condominium 99 years Jan 19, 2018 3,714 3,700,000 - 996 1983 Resale THE LUXURIE Condominium 99 years Jan 17, 2018 452 630,000 - 1,394 2015 Resale THE GLYNDEBOURNE Condominium Freehold Jan 22, 2018 2,174 4,380,000 - 2,014 2013 Resale THE MINTON Condominium 99 years Jan 16, 2018 980 950,000 - 970 2013 Resale District 12 THE MINTON Condominium 99 years Jan 17, 2018 1,755 1,785,000 - 1,017 2013 Resale GEM RESIDENCES # Condominium 99 years Jan 21, 2018 9,892 15,359,515 - 1,553 Uncompleted New Sale THE MINTON Condominium 99 years Jan 18, 2018 1,496 1,618,888 - 1,082 2013 Resale MOONSTONE RESIDENCES Apartment Freehold Jan 22, 2018 1,238 1,318,000 - 1,065 2004 Resale THE RIVERVALE EC 99 years Jan 16, 2018 1,313 895,000 - 682 2000 Resale NEEM TREE Apartment Freehold Jan 16, 2018 420 704,680 - 1,679 Uncompleted New Sale THE SUNNYDALE Condominium 99 years Jan 19, 2018 1,173 1,030,000 - 878 2001 Resale NEEM TREE Apartment Freehold Jan 18, 2018 624 990,000 - 1,586 Uncompleted New Sale District 20 REGENT RESIDENCES Apartment Freehold Jan 17, 2018 818 1,100,000 - 1,345 2015 Resale HORIZON GARDENS Terrace 99 years Jan 22, 2018 2,992 1,670,000 - 558 2002 Resale ST MICHAEL REGENCY Apartment Freehold Jan 22, 2018 926 1,180,000 - 1,275 2010 Resale HORIZON GREEN Terrace 99 years Jan 19, 2018 3,767 2,050,000 - 544 2003 Resale TRELLIS TOWERS Condominium Freehold Jan 18, 2018 840 1,370,000 - 1,632 2000 Resale SEMBAWANG HILLS ESTATE Terrace Freehold Jan 18, 2018 2,842 3,100,000 - 1,093 Unknown Resale TREVISTA Condominium 99 years Jan 18, 2018 915 1,220,000 - 1,333 2011 Resale SKY HABITAT Condominium 99 years Jan 22, 2018 2,228 2,934,700 - 1,317 2015 Resale TREVISTA Condominium 99 years Jan 19, 2018 1,733 2,050,000 - 1,183 2011 Resale THE GARDENS AT BISHAN Condominium 99 years Jan 18, 2018 1,227 1,250,000 - 1,019 2004 Resale VETRO Apartment 999 years Jan 18, 2018 474 560,000 - 1,182 2010 Resale THOMSON GRAND Condominium 99 years Jan 19, 2018 1,765 2,000,000 - 1,133 2015 Resale District 13 District 21 8@WOODLEIGH Condominium 99 years Jan 18, 2018 958 1,275,000 - 1,331 2012 Resale BUKIT REGENCY Condominium Freehold Jan 23, 2018 1,528 1,500,000 - 981 1995 Resale BARTLEY RIDGE Condominium 99 years Jan 23, 2018 969 1,300,000 - 1,342 2016 Resale KISMIS RESIDENCES Terrace Freehold Jan 16, 2018 1,658 4,000,000 - 2,413 Uncompleted New Sale PARC ASTON Apartment Freehold Jan 18, 2018 1,195 1,405,000 - 1,176 2011 Resale SUNSET TERRACE Terrace Freehold Jan 18, 2018 4,026 5,620,000 - 1,396 Unknown Resale District 14 JALAN JAMBU AYER Semi-Detached Freehold Jan 22, 2018 4,198 7,390,000 - 1,763 1990 Resale ASTORIA PARK Condominium 99 years Jan 19, 2018 1,173 1,150,000 - 980 1995 Resale BINJAI PARK Detached Freehold Jan 22, 2018 14,047 18,261,100 - 1,300 Unknown Resale METRO LOFT Apartment Freehold Jan 22, 2018 495 665,000 - 1,343 2016 Sub Sale PARC PALAIS Condominium Freehold Jan 17, 2018 1,550 1,600,000 - 1,032 1999 Resale SIMS URBAN OASIS Condominium 99 years Jan 17, 2018 1,442 2,040,600 - 1,415 2017 New Sale SYMPHONY HEIGHTS Condominium Freehold Jan 16, 2018 1,152 1,168,000 - 1,014 1998 Resale SIMS URBAN OASIS Condominium 99 years Jan 18, 2018 1,324 1,794,000 - 1,355 2017 New Sale District 22 SIMS URBAN OASIS Condominium 99 years Jan 20, 2018 1,324 1,789,500 - 1,352 2017 New Sale CASPIAN Condominium 99 years Jan 16, 2018 1,238 1,345,000 - 1,087 2012 Resale SIMS URBAN OASIS Condominium 99 years Jan 21, 2018 1,033 1,619,100 - 1,567 2017 New Sale LAKE GRANDE Condominium 99 years Jan 16, 2018 883 1,165,000 - 1,320 Uncompleted New Sale SIMSVILLE Condominium 99 years Jan 18, 2018 1,238 1,105,000 - 893 1998 Resale PARC OASIS Condominium 99 years Jan 16, 2018 1,378 1,250,000 - 907 1994 Resale SKT MANSIONS Apartment Freehold Jan 18, 2018 1,012 895,000 - 885 1993 Resale THE FLORAVALE EC 99 years Jan 16, 2018 1,238 818,000 - 661 2000 Resale THE NAVIAN Apartment Freehold Jan 20, 2018 667 1,056,000 - 1,582 Uncompleted New Sale THE LAKEFRONT RESIDENCES Condominium 99 years Jan 16, 2018 1,055 1,239,999 - 1,175 2014 Resale THE NAVIAN Apartment Freehold Jan 21, 2018 657 1,079,000 - 1,643 Uncompleted New Sale THE MAYFAIR Condominium 99 years Jan 17, 2018 893 873,000 - 977 2000 Resale THE VINES Apartment Freehold Jan 19, 2018 1,087 1,090,000 - 1,003 2003 Resale WESTVILLE Semi-Detached 99 years Jan 17, 2018 2,153 1,680,000 - 779 1997 Resale TRE RESIDENCES Condominium 99 years Jan 18, 2018 764 1,129,000 - 1,477 Uncompleted New Sale District 23 TRE RESIDENCES Condominium 99 years Jan 18, 2018 947 1,303,000 - 1,376 Uncompleted New Sale CASHEW VILLAS Terrace 999 years Jan 19, 2018 1,938 2,900,000 - 1,497 2002 Resale TRE RESIDENCES Condominium 99 years Jan 19, 2018 947 1,316,000 - 1,389 Uncompleted New Sale CHESTERVALE EC 99 years Jan 17, 2018 1,410 868,000 - 616 1999 Resale TRE RESIDENCES Condominium 99 years Jan 20, 2018 861 1,294,000 - 1,503 Uncompleted New Sale CHESTERVALE EC 99 years Jan 19, 2018 1,410 900,000 - 638 1999 Resale District 15 ESPA Condominium 999 years Jan 16, 2018 850 1,032,000 - 1,214 2009 Resale 16 @ AMBER Apartment Freehold Jan 18, 2018 420 725,000 - 1,727 2014 Resale HILLION RESIDENCES Apartment 99 years Jan 19, 2018 463 788,000 - 1,702 2017 New Sale 448@EAST COAST Apartment Freehold Jan 17, 2018 431 665,000 - 1,545 2013 Resale HILLVISTA Condominium Freehold Jan 19, 2018 915 1,121,000 - 1,225 2010 Resale AMBER RESIDENCES Condominium Freehold Jan 16, 2018 1,518 2,800,000 - 1,845 2011 Resale INZ RESIDENCE # EC 99 years Jan 21, 2018 10,204 8,483,000 - 831 Uncompleted New Sale CRESCENDO PARK Condominium Freehold Jan 18, 2018 1,711 1,855,000 - 1,084 1996 Resale MAYSPRINGS Apartment 99 years Jan 19, 2018 915 770,000 - 842 1998 Resale EAST BAY GARDENS Apartment 99 years Jan 16, 2018 1,528 1,155,000 - 756 1995 Resale MAYSPRINGS Apartment 99 years Jan 19, 2018 1,313 986,000 - 751 1998 Resale FRANKEL ESTATE Semi-Detached Freehold Jan 22, 2018 4,284 5,500,000 - 1,284 Unknown Resale JALAN ZAMRUD Terrace Freehold Jan 19, 2018 2,250 2,500,000 - 1,114 Unknown Resale MANDARIN GARDENS Condominium 99 years Jan 16, 2018 829 960,000 - 1,158 1986 Resale NORTHVALE Apartment 99 years Jan 22, 2018 1,270 990,000 - 779 1998 Resale MANDARIN GARDENS Condominium 99 years Jan 19, 2018 829 968,000 - 1,168 1986 Resale SOL ACRES EC 99 years Jan 17, 2018 926 714,000 - 771 Uncompleted New Sale MANDARIN GARDENS Condominium 99 years Jan 23, 2018 829 948,000 - 1,144 1986 Resale THE LINEAR Apartment 999 years Jan 18, 2018 1,238 1,050,000 - 848 2006 Resale MODA Apartment Freehold Jan 16, 2018 969 1,520,000 - 1,569 2014 Resale THE PETALS Condominium Freehold Jan 19, 2018 1,259 1,170,000 - 929 2002 Resale JALAN KERIS Terrace Freehold Jan 18, 2018 1,873 2,880,000 - 1,534 1981 Resale VILLA VERDE Terrace 99 years Jan 19, 2018 1,615 1,350,000 - 836 2000 Resale Joo Chiat Place Apartment Freehold Jan 18, 2018 1,163 1,046,700 - 900 1996 Resale District 25 BOSCOMBE ROAD Detached Freehold Jan 22, 2018 12,766 17,500,000 - 1,371 Unknown Resale NORTHWAVE EC 99 years Jan 18, 2018 980 756,000 - 772 Uncompleted New Sale EAST COAST DRIVE Semi-Detached Freehold Jan 22, 2018 4,865 5,400,000 - 1,111 1969 Resale NORTHWAVE EC 99 years Jan 20, 2018 990 790,500 - 798 Uncompleted New Sale Jalan Jamal Apartment Freehold Jan 22, 2018 2,271 2,000,000 - 881 1982 Resale NORTHWAVE EC 99 years Jan 20, 2018 1,109 899,000 - 811 Uncompleted New Sale ONAN ROAD Terrace Freehold Jan 22, 2018 1,841 2,450,000 - 1,333 Unknown Resale WOODSVALE EC 99 years Jan 16, 2018 1,389 850,000 - 612 2000 Resale PRESTIGE RESIDENCE Apartment Freehold Jan 19, 2018 646 760,000 - 1,177 2008 Resale District 26 SANDY EIGHT Apartment Freehold Jan 16, 2018 1,033 1,680,000 - 1,626 Uncompleted New Sale CASTLE GREEN Condominium 99 years Jan 19, 2018 1,410 1,269,000 - 900 1997 Resale SANDY EIGHT Apartment Freehold Jan 16, 2018 1,033 1,675,000 - 1,621 Uncompleted New Sale MEADOWS @ PEIRCE Condominium Freehold Jan 23, 2018 2,077 2,195,000 - 1,057 2012 Resale SEASIDE RESIDENCES Apartment 99 years Jan 16, 2018 592 1,050,000 - 1,774 Uncompleted New Sale SPRINGLEAF GARDEN Detached Freehold Jan 17, 2018 13,153 9,700,000 - 738 1984 Resale SEASIDE RESIDENCES Apartment 99 years Jan 17, 2018 560 937,000 - 1,674 Uncompleted New Sale District 27 SEASIDE RESIDENCES Apartment 99 years Jan 18, 2018 678 1,146,000 - 1,690 Uncompleted New Sale EIGHT COURTYARDS Condominium 99 years Jan 18, 2018 1,152 1,060,000 - 920 2014 Resale SEASIDE RESIDENCES Apartment 99 years Jan 20, 2018 592 1,069,000 - 1,806 Uncompleted New Sale EIGHT COURTYARDS Condominium 99 years Jan 18, 2018 861 850,000 - 987 2014 Resale SEASIDE RESIDENCES Apartment 99 years Jan 21, 2018 506 937,000 - 1,852 Uncompleted New Sale EUPHONY GARDENS Condominium 99 years Jan 23, 2018 1,141 780,000 - 684 2001 Resale SEASIDE RESIDENCES Apartment 99 years Jan 21, 2018 592 1,028,000 - 1,736 Uncompleted New Sale PARC LIFE EC 99 years Jan 17, 2018 1,066 884,000 - 830 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jan 21, 2018 1,087 1,801,000 - 1,657 Uncompleted New Sale PARC LIFE EC 99 years Jan 20, 2018 1,066 877,000 - 823 Uncompleted New Sale THE ARISTO @ AMBER Apartment Freehold Jan 16, 2018 646 1,250,000 - 1,935 2013 Resale PARC LIFE EC 99 years Jan 20, 2018 1,001 828,000 - 827 Uncompleted New Sale THE SEA VIEW Condominium Freehold Jan 19, 2018 1,518 2,480,000 - 1,634 2008 Resale SIGNATURE AT YISHUN EC 99 years Jan 19, 2018 775 705,000 - 910 2017 New Sale THE WATERSIDE Condominium Freehold Jan 17, 2018 2,142 3,400,000 - 1,587 1992 Resale SIGNATURE AT YISHUN EC 99 years Jan 20, 2018 1,098 824,000 - 751 2017 New Sale TIVOLI GRANDE Apartment Freehold Jan 17, 2018 1,528 1,650,000 - 1,079 2012 Resale SYMPHONY SUITES Condominium 99 years Jan 18, 2018 1,023 1,077,000 - 1,053 Uncompleted New Sale WATER PLACE Condominium 99 years Jan 19, 2018 1,216 1,470,000 - 1,209 2004 Resale SYMPHONY SUITES Condominium 99 years Jan 20, 2018 915 1,045,000 - 1,142 Uncompleted New Sale District 16 THE CRITERION EC 99 years Jan 17, 2018 915 715,200 - 782 Uncompleted New Sale BAYSHORE PARK Condominium 99 years Jan 19, 2018 1,292 1,170,000 - 906 1986 Resale THE CRITERION EC 99 years Jan 19, 2018 1,001 850,400 - 850 Uncompleted New Sale CASA MERAH Apartment 99 years Jan 22, 2018 958 1,100,000 - 1,148 2009 Resale THE CRITERION EC 99 years Jan 20, 2018 915 724,800 - 792 Uncompleted New Sale EAST MEADOWS Condominium 99 years Jan 22, 2018 1,238 1,160,000 - 937 2002 Resale THE CRITERION EC 99 years Jan 21, 2018 915 724,800 - 792 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Jan 17, 2018 667 1,089,000 - 1,632 Uncompleted New Sale WATERCOVE Terrace Freehold Jan 17, 2018 3,520 2,580,000 - 733 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Jan 19, 2018 581 999,000 - 1,719 Uncompleted New Sale WATERCOVE Terrace Freehold Jan 19, 2018 3,348 2,858,000 - 854 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Jan 20, 2018 1,453 2,048,000 - 1,409 Uncompleted New Sale District 28 KEW GREEN Condominium 99 years Jan 16, 2018 3,369 1,775,000 - 527 1997 Resale BELGRAVIA VILLAS Terrace Freehold Jan 19, 2018 3,584 3,007,490 - 839 Uncompleted New Sale JALAN BILAL Terrace Freehold Jan 22, 2018 2,971 2,570,000 - 864 1976 Resale BELGRAVIA VILLAS Terrace Freehold Jan 19, 2018 3,584 2,916,350 - 814 Uncompleted New Sale WATERFRONT ISLE Condominium 99 years Jan 18, 2018 1,152 1,310,000 - 1,137 2015 Resale KELULUT HILL Terrace 999 years Jan 22, 2018 4,026 3,700,000 - 919 1997 Resale WATERFRONT WAVES Condominium 99 years Jan 17, 2018 1,550 1,750,000 - 1,129 2011 Resale LUXUS HILLS Terrace 999 years Jan 19, 2018 1,615 2,610,000 - 1,616 2011 Resale District 17 MIMOSA PARK Condominium Freehold Jan 16, 2018 2,153 1,938,000 - 900 1979 Resale BALLOTA PARK CONDOMINIUM Condominium Freehold Jan 17, 2018 1,421 950,000 - 669 2000 Resale MUGLISTON HILL Terrace 999 years Jan 22, 2018 3,767 3,350,000 - 889 1976 Resale BALLOTA PARK CONDOMINIUM Condominium Freehold Jan 19, 2018 1,066 788,000 - 739 2000 Resale JALAN TARI PIRING Terrace 999 years Jan 16, 2018 1,798 1,910,000 - 1,065 Unknown Resale BLUWATERS 2 Condominium 946 years Jan 17, 2018 958 860,000 - 898 2010 Resale PARC BOTANNIA # Condominium 99 years Jan 21, 2018 16,490 20,616,000 - 1,250 Uncompleted New Sale CARISSA PARK CONDOMINIUM Condominium Freehold Jan 22, 2018 1,324 1,050,000 - 793 2001 Resale SELETAR SPRINGS Condominium 99 years Jan 19, 2018 1,302 875,000 - 672 2000 Resale EDELWEISS PARK Condominium Freehold Jan 19, 2018 2,680 1,560,000 - 582 2006 Resale CONDOMINIUM CONDOMINIUM SUNRISE GARDENS Condominium 99 years Jan 16, 2018 1,432 995,000 - 695 1998 Resale FERRARIA PARK CONDOMINIUM Condominium Freehold Jan 19, 2018 915 800,000 - 874 2009 Resale SUNRISE GARDENS Condominium 99 years Jan 17, 2018 1,453 1,140,000 - 785 1998 Resale HEDGES PARK CONDOMINIUM Condominium 99 years Jan 17, 2018 484 520,000 - 1,074 2015 Resale PARC OLYMPIA Condominium 99 years Jan 18, 2018 646 675,000 - 1,045 2015 Resale DISCLAIMER: District 18 Source: URA Realis. Updated Jan 30, 2018. The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, BELYSA EC 99 years Jan 18, 2018 1,055 860,000 - 815 2014 Resale or reliance on, the information provided therein. CHANGI RISE CONDOMINIUM Condominium 99 years Jan 18, 2018 1,496 1,140,000 - 762 2004 Resale #Not all caveats are reflected owing to the high volume of transactions D’NEST Condominium 99 years Jan 16, 2018 1,270 1,334,000 - 1,050 2017 Sub Sale EC stands for executive condominium EP10 • EDGEPROP | FEBRUARY 5, 2018 GAINS AND LOSSES Leedon Road GCB fetches $39.8 mil profit

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY ANGELA TEO |

Good Class Bungalow on Leedon Road was sold at $57.5 million ($1,309 psf), according to a caveat lodged on Jan 18. The seller, Aa Madam Chong, is a veteran lux- ury property investor and collector of GCBs in the Leedon Road-Leedon Park neighbourhood, which has earned her the moniker “Queen of Leedon Park”. The GCB that she sold was an in- vestment property she had held for 21 years, having purchased it for $17.7 million ($403 psf) in August 1996. Based on the sale price of $57.5 mil- lion, she will enjoy a capital gain of $39.8 million, equivalent to the price of a luxury GCB. Over the years, Madam Chong had flirted with the idea of selling the house on Leedon Road. In the last property boom a decade ago, she had put the GCB on the market for $39.5 million ($900 psf), and had then withdrawn it from the market. With a freehold plot area of 43,928 sq ft, the GCB can be subdivided into two smaller GCBs of 21,000 to 22,000 sq ft. Such large GCB plots are becom- The GCB on Leedon Road was bought in August 1996 for $17.7 million ($403 psf) and sold on Jan 18 for $57.5 million ($1,309 psf) ing rare, as many have already been purchased and subdivided into small- caveat lodged in October 2012. For four-bedroom unit sold for $3.8 mil- er GCB land parcels over the years. the seller, this translates into a loss lion ($1,368 psf), according to a ca- The transaction of the GCB on of $2.3 million, or 39%. veat lodged in June 2016. The unit Leedon Road marked the most sig- Last November, a neighbouring was first purchased at the peak of the nificant gain for caveats lodged be- four-bedroom unit on the same floor market in November 2007 for $7.16 tween Jan 16 and 23. was sold for $3.7 million ($1,535 psf). million ($2,580 psf). The loss was In Sentosa Cove, a 2,400 sq ft, The unit is slightly larger at 2,411 sq 47%, and it was a distressed sale. four-bedroom unit at Turquoise was ft, and the seller also recognised a With the residential market re- sold for $3.58 million ($1,491 psf), loss, having purchased the condo- covering, prices at Turquoise and according to a caveat lodged on Jan minium for $6.27 million ($2,600 the other condos in Sentosa Cove 18. The fifth-floor unit was purchased psf) in October 2007. may stabilise this year, says a prop- for $5.87 million ($2,446 psf) more The biggest loss at the Turquoise erty consultant who declined to be Prices at Turquoise and other condominiums in Sentosa Cove may stabilise this year. than five years ago, according to a was registered by a 2,777 sq ft, named. E Find the most affordable listing in the project at edgepr.link/Turquoise.

Top 10 gains and losses from Jan 16 to 23

Most profi table deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) URA, EDGEPROP URA, 1 The Marbella 10 1,582 Jan 19 1,636 Sept 17, 2004 698 1,483,888 134 7 13.3 2 The Waterside 15 2,142 Jan 17 1,587 Jan 1, 2014 934 1,400,000 70 14 4.0 3 The Sea View 15 1,518 Jan 19 1,634 Oct 28, 2005 787 1,285,668 108 6 12.2 4 Glentrees 10 1,711 Jan 19 1,490 May 14, 2004 785 1,206,000 90 5 13.7 5 Crescendo Park 15 1,711 Jan 18 1,084 March 15, 1999 414 1,147,000 162 5 18.9 6 One Jervois 10 1,324 Jan 16 1,737 Aug 27, 2006 990 988,632 75 5 11.4 7 1A Jalan Jamal 15 2,271 Jan 22 881 June 12, 2007 476 920,000 85 6 10.6 8 Carlyx Residence 8 1,389 Jan 23 1,069 July 17, 2006 551 720,000 94 6 11.5 9 Trevista 12 1,733 Jan 19 1,183 Sept 11, 2009 793 676,320 49 5 8.4 10 Modena 18 1,356 Jan 18 944 Aug 30, 2001 475 635,930 99 4 16.4

Non-profi table deals

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018)(2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LLOSSOSS (%)(%) HOLDING PERIOD (YEARS) 1 Turquoise 4 2,400 Jan 18 1,491 Oct 19, 2012 2,446 2,292,000 39 9 5.3 2 Nassim Park Residences 10 3,466 Jan 22 3,462 Nov 28, 2013 3,800 1,170,800 9 2 4.2 3 The Solitaire 10 1,970 Jan 23 1,472 May 22, 2007 1,878 800,000 22 2 10.7 4 Seahill 5 1,130 Jan 19 1,336 Jan 2, 2013 1,678 386,200 20 4 5.0 5 The Orange Grove 10 2,960 Jan 17 2,196 Sept 15, 2009 2,324 380,000 6 1 8.3 6 The Glyndebourne 11 2,174 Jan 22 2,014 Dec 21, 2010 2,122 234,800 5 1 7.1 7 Espada 9 646 Jan 18 2,090 Dec 21, 2010 2,319 147,686 10 1 7.1 8 Livia 18 1,346 Jan 17 855 Oct 21, 2011 957 138,000 11 2 6.2 9 8@Woodleigh 13 958 Jan 18 1,331 March 6, 2013 1,442 106,888 8 2 4.9 10 Double Bay Residences 18 1,819 Jan 17 891 March 18, 2013 939 88,000 5 1 4.8

Note: Computed based on URA caveat data as at Jan 30 for private non-landed houses transacted between Jan 16 and 23. The profit-and-loss computation excludes transaction costs such as stamp duties. EDGEPROP | FEBRUARY 5, 2018 • EP11 DEAL WATCH

DONALD NG/LIST SOTHEBY’S INTERNATIONAL REALTY SINGAPORE Marina Bay Residences penthouse on the market for $11 mil

TABLES: URA, EDGEPROP | BY ANGELA TEO | Recent transactions at Marina Bay Residences 4,435 sq ft penthouse on The living and dining area of the penthouse, which has floor-to-ceiling windows CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) the 52nd and 53rd floor of that offer panoramic views Marina Bay Residences has Dec 4, 2017 1,130 2,220,000 1,964 been put up for sale with Nov 20, 2017 1,981 5,348,700 2,701 Bay Sands integrated resort opened cial Centre. Jointly developed by an asking price of $11 mil- Oct 6, 2017 710 1,460,000 2,055 its doors. Hong Kong-listed conglomerate CK Alion ($2,480 psf). “The duplex unit Launched in mid-December 2006, Hutchison Holdings, Chinese devel- is owned by a foreigner, who is sell- the 99-year leasehold condominium oper Hongkong Land and Singapore ing it with vacant possession and an outdoor Jacuzzi,” says Ng. project was sold out within three days, property developer Keppel Land, Ma- without furnishings,” says Donald Recent rental contracts According to URA caveat data, according to one of its developers, Kep- rina Bay Financial Centre sits on a Ng, senior manager of project mar- for units larger than the last time a penthouse of simi- pel Land. Units were sold at an average 3.55ha waterfront site. keting at List Sotheby’s International lar size was sold at Marina Bay Res- price of $1,950 psf at that time, with Marina Bay Financial Centre also Realty Singapore. It was previously 3,000 sq ft at Marina idences was in October 2013, when a penthouse setting a record price of includes the 221-unit Marina Bay tenanted out, but the lease expired Bay Residences a 4,489 sq ft penthouse on the 51st $3,450 psf, says Keppel Land. Suites, three Grade-A office towers, recently, according to Ng. floor changed hands for about $13.9 Marina Bay Residences is one of and 179,000 sq ft of retail space at “The four-bedroom penthouse LEASE DATE MONTHLY RENT (($)$) million ($3,092 psf). two residential blocks within mixed- Marina Bay Link Mall. It is linked features a balcony that overlooks July 2017 23,000 Located at Marina Boulevard in use development Marina Bay Finan- to the Downtown MRT station. E the Marina Bay precinct, including March 2017 15 15,000,000 prime district 1 and designed by US landmarks such as the Gardens by January 2017 23 23,000,000 architectural practice Kohn Peders- the Bay and the Marina Bay Cruise en Fox Associates, the 428-unit Ma- Centre,” notes Ng. “Floor-to-ceiling rina Bay Residences has 55 storeys. windows also mean the living area two bedrooms, the wet and dry kitch- Known for its bay-wide views, open is filled with light,” he adds. ens and the dining area. “The upper balconies and three sky lounges, it Besides the living area, the lower level is where the fourth bedroom is. was completed in 2010, around the floor includes the master bedroom, It also has a family area that leads to same time that the nearby Marina EP12 • EDGEPROP | FEBRUARY 5, 2018

PROP HUNT

Properties for Sale Landed 3 Scan QR code for more details Ó To be featured, email [email protected] or call 9855-5282

$22,800,000 $11,800,000 $9,300,000 $7,380,000 Good Class Bungalow Detached House Good Class Bungalow Semi-Detached House LYNWOOD GROVE | Freehold BERRIMA | Freehold CHESTNUT DRIVE | Freehold HONG KONG PARK | 999 years Built-Up(sqft): 10,000 | Land(sqft): 20,500 Built-Up(sqft): 7,500 | Land(sqft): 6,000 Built-Up(sqft): 9,300 | Land(sqft): 9,300 Built-Up(sqft): 5,500 | Land(sqft): 3,400 PSF: $1,112 PSF: $1,967 PSF: $1,000 PSF: $2,171

Beautiful tropical 2-storey Good Class Bungalow. Rare detached in Berrima vicinity. Hilltop. Quiet. Only $1,000 psf! Best value Good Class Bungalow Rare semi-detached in Binjai Park vicinity. Comes with swimming pool and lush garden. Huge Spacious, 5 bedrooms ensuites. Lap pool and lift. land available in Chestnut GCBA. Nice regular flat Excellent layout. Spacious, 5 bedrooms ensuites. deck and outdoor patio. Can park 12 cars. Sell with tenancy. land for redevelopment. Quiet. Good frontage. Lap pool and home theatre room. Can park 3 cars. Easy access to Cold Storage/ King Albert Park MRT station.

RENA LEE George Lee George Lee George Lee REALSTAR PREMIER GROUP PTE LTD MYRIAD REALTY PTE LTD MYRIAD REALTY PTE LTD MYRIAD REALTY PTE LTD R028501G R025014J R025014J R025014J ™ 65 9109 4480 ™ 65 8188 8777 ™ 65 8188 8777 ™ 65 8188 8777

$5,980,000 $4,880,000 $4,500,000 $4,000,000 Semi-Detached House Semi-Detached House Semi-Detached House Detached House JALAN LIM TAI SEE | Freehold JALAN JORAN | 999 years RANGOON LANE | Freehold CHUAN ESTATE | 99 years Built-Up(sqft): 3,900 | Land(sqft): 3,505 Built-Up(sqft): 4,700 | Land(sqft): 3,444 Built-Up(sqft): 5,000 | Land(sqft): 2,938 Built-Up(sqft): 7,000 | Land(sqft): 6,200 PSF: $1,706 PSF: $1,417 PSF: $1,532 PSF: $645

Well-maintained semi-detached house in a quiet Hidden Gem in Seletar Hills Estate. 2-storey semi- Rare 3.5 storey semi-detached house with 13 Rare detached in Chuan vicinity. Cul-de-sac. Quiet. and convenient location. 5 bedrooms with 3 detached house + attic. 6 bedrooms (5 sleek ensuite bedrooms, 9 attached + 2 common bathrooms. Spacious, 6 bedrooms ensuites, lap pool. Own a ensuite. Near to famous schools such as Henry Park baths) + maid's room. 3.6m ceiling height. South Centrally located on the fringe of CBD, 400m bungalow at semi-detached price! Primary School, Methodist Girls School, Nanyang facing. 250m to Greenwich V Shopping Mall. 960m walking distance to Farrer Park MRT station. Ideal Primary School and Raffles Girls Primary School. to The Seletar Mall. for multi-generation family. Currently tenanted till early 2019.

Kang Yang Peng Kelly Tay Jeffrey Tan George Lee PROPNEX REALTY PTE LTD KF PROPERTY NETWORK PTE LTD SHANG PROPERTIES PTE LTD MYRIAD REALTY PTE LTD R055898F R020926D R021704F R025014J ™ 65 9731 4731 ™ 65 9790 1163 ™ 65 9675 7575 ™ 65 8188 8777

$3,950,000 $3,500,000 $2,900,000 $1,879,888 Semi-Detached House Corner Terrace House Semi-Detached House Corner Terrace House JALAN TAMBUR | Freehold SUNRISE PLACE | Freehold JALAN BUMBONG | Freehold LIMBOK TERRACE | 99 years Built-Up(sqft): 3,369 | Land(sqft): 3,481 Built-Up(sqft): 3,000 | Land(sqft): 2,590 Built-Up(sqft): 2,500 | Land(sqft): 4,500 Built-Up(sqft): 2,950 | Land(sqft): 2,164 PSF: $1,135 PSF: $1,351 PSF: $644 PSF: $869

Situated at Thomson Vicinity. Huge land size. Rare corner terrace house beside park. Pleasant Freehold semi-detached house at Mandai. Suitable Beautiful 3-storey corner terrace house with Original condition. Ideal for A&A. Within 1km of quiet environment. 100% move in condition. Re- for rebuild. Quiet and scenic. 5-bedroom. Bright and windy. Well-maintained. Ai Tong, 2km of CHIJ St. Nicholas Girls' School and constructed in year 2011. Regular shaped land. Mins walk to bus-stop. Stations away to NEX Catholic High School. North-south facing. Shopping Mall.

Ashlyn Aw Ling CK Alan Wee Vanessa Lee PROPNEX REALTY PTE LTD PROPNEX REALTY PTE LTD ERA REALTY NETWORK PTE LTD PROPNEX REALTY PTE LTD R030895E R056727F R024730A R047198H ™ 65 8198 9018 ™ 65 9011 0636 ™ 65 9297 3150 ™ 65 9159 6436 EDGEPROP | FEBRUARY 5, 2018 • EP13

PROP HUNT

Properties for Sale Condominium 3 Scan QR code for more details Ó To be featured, email [email protected] or call 9855-5282

$15,800,000 $2,300,000 $2,180,000 $2,100,000 Nassim Park Residences Dakota Residences The Rochester d'Leedon NASSIM ROAD, 258462 Singapore DAKOTA CRESCENT, 399940 Singapore ROCHESTER DRIVE, 138638 Singapore LEEDON HEIGHTS, 267955 Singapore Freehold | Bedroom: 5 99 years | Bedroom: 3 99 years | Bedroom: 3 99 years | Bedroom: 3 Size(sqft): 4,832 | PSF: $3,270 Size(sqft): 1,744 | PSF: $1,319 Size(sqft): 1,679 | PSF: $1,298 Size(sqft): 1,216 | PSF: $1,727

Outdoor patio with private pool. 4 ensuite plus 3 + study. Ground floor. High ceiling. Junior Master. Serious seller, prime location. doorstep to Rochester Unblocked city view. Fire works guaranteed during guest/study. Spacious living area. Almost new 3 mins to Dakota MRT. Mall. Mins to Buona Vista MRT. Fully Furnish, festive seasons. Own this amazing home before its condition. Side gate to shopping belt at Orchard. Great view. Great layout with regular shape. sold. Close to Botanic gardens.

Keith Teoh Raymond Sim Troy Lee Raymond Ho ERA REALTY NETWORK PTE LTD ERA REALTY NETWORK PTE LTD PROPNEX REALTY PTE LTD PROPNEX REALTY PTE LTD R041319H R052823H R024573B R027475I ™ 65 8777 3311 ™ 65 9775 9776 ™ 65 9873 3101 ™ 65 9878 7111

$1,888,889 $1,420,000 $1,340,000 $1,288,888 Clover By The Park Parc Imperial Hume Park I The Gale BISHAN STREET 25, 573975 Singapore PASIR PANJANG ROAD, 118618 Singapore HUME AVENUE, 598726 Singapore FLORA ROAD, 509746 Singapore 99 years | Bedroom: 3 Freehold | Bedroom: 2 Freehold | Bedroom: 3 Freehold | Bedroom: 3 Size(sqft): 1,604 | PSF: $1,178 Size(sqft): 1,173 | PSF: $1,211 Size(sqft): 1,346 | PSF: $996 Size(sqft): 1,259 | PSF: $1,024

Renovated 3-bedroom unit. Spacious layout. 5 mins walk to MRT and 15 mins drive to CBD. Next to future Hume MRT station. Mid floor. Simple Beautiful patio unit. Superb resort living. Total move Pool view. A stone's throw away to Bishan Park. Value for money. Bright and airy penthouse unit in renovated. 3 toilets, maid's room, store, balcony. in condition. Mins walk to Catholic High, Ai Tong School, a low-rise development. Renovated a few years ago. Raffles Institution, Raffles Junior College, Bishan Great for young couples or investors! MRT station and Junction 8 Shopping Mall.

Irene Leong Shareen Tan Alan Wee Vanessa Lee ORANGETEE & TIE PTE LTD KONG QUST REALTY (S) PTE LTD ERA REALTY NETWORK PTE LTD PROPNEX REALTY PTE LTD R057806E R008569G R024730A R047198H ™ 65 9855 4903 ™ 65 9827 9802 ™ 65 9297 3150 ™ 65 9159 6436

$1,220,000 $980,000 $828,000 $699,000 The Rochester Blossom View Sky Green Bella Casita ROCHESTER DRIVE, 138638 Singapore LORONG 26 GEYLANG, 398498 Singapore MACPHERSON ROAD, 368237 Singapore IPOH LANE, 438610 Singapore 99 years | Bedroom: 1 Freehold | Bedroom: 3 Freehold | Bedroom: 1 Freehold | Bedroom: 1 Size(sqft): 840 | PSF: $1,452 Size(sqft): 1,034 | PSF: $948 Size(sqft): 495 | PSF: $1,673 Size(sqft): 474 | PSF: $1,475 Charming loft unit. Designer decor. No west sun, Big apartment near two MRT stations under $1m. Walk to Tai Seng MRT, food court, eatries and wet One KM mall right at the doorstep. A few bus stops bright and quiet. Good privacy and space usage. Rare market. Quiet facing. Balcony. Easy access to to away from Parkway Parade mall. Spacious living unit with 2 entrances. PIE, Changi Airport and ECP. Fairly new Electrical room and unblocked view from balcony. applicances and furniture. Cosy surroundings.

Y K Yik Janice Liu Estella Khoo Keith Teoh YK REALTY CONSULTANTS ERA REALTY NETWORK PTE LTD NBI REALTY LLP ERA REALTY NETWORK PTE LTD P000384D R031760A R002454Z R041319H ™ 65 9383 3616 ™ 65 9690 9816 ™ 65 9100 2299 ™ 65 8777 3311 EP1 • EDGEPROP | FEBRUARY 5, 2018

PROP HUNT

Properties for Sale and Lease Condominium Business Space 3 Scan QR code for more details Ó To be featured, email [email protected] or call 9855-5282

$9,700/mth $8,300/mth $7,300/mth $4,000/mth DUO Residences Beaverton Court Marina Bay Residences Espada FRASER STREET, 189350 Singapore MOUNT SINAI RISE, 276958 Singapore MARINA BOULEVARD, 018980 Singapore ST. THOMAS WALK, 238126 Singapore 99 years | Bedroom: 3 Freehold | Bedroom: 5 99 years | Bedroom: 2 Freehold | Bedroom: 2 Size(sqft): 1,722 | PSF: $6 Size(sqft): 3,229 | PSF: $3 Size(sqft): 1,228 | PSF: $6 Size(sqft): 667 | PSF: $6

Super high floor unit, brand new! Minutes to Bugis 4-ensuite bedrooms, near Orchard and Dover road. Stack 8 high floor with unblocked Marina Bay view Superb location. Short walk to 24 hrs Supermarket MRT. Wet and dry kitchen. Partially furnished. that overlooks everything including Marina Bay NTUC. Near Somerset MRT & Killiney Road Sands. One of the few properties where you can eateries - japanese, local, thai, western, etc. Full stand at your balcony on festive dates to enjoy the facilities - tennis court, swimming pool (1st floor), fireworks display. sheltered pool (14th floor), sports bar & pool table (24th floor, overlooking Orchard).

Aggie Hee Raymond Sim Raymond Ho Michael Wong PROPNEX REALTY PTE LTD ERA REALTY NETWORK PTE LTD PROPNEX REALTY PTE LTD HUTTONS ASIA PTE LTD R044884F R052823H R027475I R006996I ™ 65 9822 6522 ™ 65 9775 9776 ™ 65 9878 7111 ™ 65 8838 6969

$3,800/mth $3,800/mth $3,100/mth $2,550/mth Mill Point Loft 33 @ Geylang Spottiswoode Suites Lakeholmz ZION CLOSE, 247813 Singapore LORONG 32 GEYLANG, 398293 Singapore SPOTTISWOODE PARK ROAD, 088661 Singapore CORPORATION ROAD, 649824 Singapore 999 years | Bedroom: 2 Freehold | Bedroom: 3 Freehold | Bedroom: 1 99 years | Bedroom: 2 Size(sqft): 926 | PSF: $4 Size(sqft): 1,216 | PSF: $3 Size(sqft): 441 | PSF: $7 Size(sqft): 1,021 | PSF: $2

2-bedroom unit on high floor. Bright and breezy. Cozy 2-storey loft apartment. Fully furnished, Brand new. Available now. Ideal for business Near Lakeside MRT station, comfortable unit with Spacious layout. Open concept kitchen. 5 mins to available immediately. expats & young couples working in CBD, Raffles good layout. Orchard MRT station. Opposite Great World City Place, MBFC. Study room with balcony, beautiful Shopping Mall. panoramic seaview. Super high floor. Bright and windy. Fully furnished. Full condo facilities. Approx 5-10mins walk to Outram Park MRT Station.

Irene Leong Elaine Ng Benjamin Lee Norman Lee KONG QUST REALTY (S) PTE LTD ORANGETEE & TIE PTE LTD HUTTONS ASIA PTE LTD HUTTONS ASIA PTE LTD R008569G R019584J R017096A R007451B ™ 65 9855 4903 ™ 65 9009 2248 ™ 65 9816 8896 ™ 65 9853 4587

$773,388 $761,280 $39,000/mth $2,100/mth Woodlands 11 - Factory for sale Vertex - Factory for sale Duxton Road - Shop house for rent Orchard Plaza - Shop for rent WOODLANDS CLOSE, 737853 Singapore UBI AVENUE 3, 408868 Singapore DUXTON ROAD Singapore ORCHARD ROAD, 238841 Singapore 60 years | Size(sqft): 1,938 | PSF: $399 60 years | Size(sqft):1,464 | PSF: $520 Size(sqft): 4,000 | PSF: $10 99 years | Size(sqft): 280 | PSF: $8

Rare type B1 Ramp up Industrial at Woodlands. Fully Divided into 3 rooms. Column free. Seperate air-con Rare big single floor plate space available for F&B Unit on low floor. Good location. Suitable for most fitted with air cons, lightings, carpet and partitioned units. Carpeted. Attached toilet. Near to Tai Seng usage. Big wide facade. Easy accessible by public trades. rooms. Good for investment. MRT station. transportation.

Vanessa Lee Joel Png Dave Lee Stephen Sim PROPNEX REALTY PTE LTD ERA REALTY NETWORK PTE LTD ERA REALTY NETWORK PTE LTD ORANGETEE & TIE PTE LTD R047198H R023774H R018615I R005712Z ™ 65 9159 6436 ™ 65 9631 2370 ™ 65 8181 8134 ™ 65 9386 2513