PROPERTY PERSONALISED

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

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of April 15, 2019 | ISSUE 877-99

CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park EDGEPROP | APRIL 15, 2019 • EPJ2

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K PROUDLY DEVELOPED BY PROPERTY PERSONALISED MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of April 15, 2019 | ISSUE 877-99

Co-working Offshore Gains and Losses Under the Hammer Lendlease launches Macau group targets rich Pebble Bay resale unit Duplex penthouse at new co-working brand Hong Kong retirees reaps $2.9 mil profit D’Zire going for $1.28 mil ‘csuites’ ep4 ep8 ep12 ep13

SingHaiyi roots for flower power

The Singapore-listed property group will roll out three new projects this year, starting with the preview of The Lilium and The Gazania later this month, followed by that of Parc Clematis some time in 3Q2019. Turn to our Cover Story on Pages 6 & 7.

The How Sun private housing estate where the sites of The Gazania CapitaLand’s(former Sun M&ARosier) will and give The it Lilium access (former to Ascendas-Singbridge’s How Sun Park) are Changisituated Business Park SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE CHUA/EDGEPROP ISAAC SAMUEL

EP2 • EDGEPROP | APRIL 15, 2019

PROPERTY BRIEFS

JLL JLL

EDITORIAL Local editor | Cecilia Chow deputy editor | Co-living operator Hmlet signs Amy Tan its largest property senior writer | Timothy Tay Co-living operator Hmlet has signed writers | Bong Xin Ying, a new property in the Tanjong Pa- Charlene Chin gar/Cantonment downtown area – its head, copy editing | Pek Tiong Gee largest dedicated co-living building so copy editor | far. Located at 150 Cantonment Road, Rachel Heng the property is also known as Canton- photo editor | Samuel Isaac Chua ment Centre. photographer | Albert Chua The property will comprise 150 editorial coordinator | rooms which will be operated as ser- Yen Tan viced apartment units; they will be designer | The Big Box industrial building is connected to nearby buildings such The four-storey Joo Chiat building sits on a 4,686 sq ft site Kim Sy housed in two three-storey blocks that as JEM as well as Jurong East MRT Station have a total gross floor area of 47,352 ADVERTISING + sq ft. The property is on a 76,003 sq ft vestment and capital markets at Knight gross floor area of about 207,679 sq chanical car park for nine cars in the MARKETING ADVERTISING SALES site that is close to the Tanjong Pagar Frank Singapore, the marketing agent. ft. The JTC-owned land has a 60-year building. vice-president, sales & MRT Station and Outram Park MRT The site offers panoramic sea views tenure that starts from Feb 1, 1980, The new owner could have nam- operations | Diana Lim interchange. and is near the upcoming Siglap MRT with 21 years left to the lease. ing and signage rights for the build- deputy account director | Janice Zhu The property was part of a govern- station on the Thomson-East Coast The six-storey detached building has ing. The existing tenancies could be senior account manager | ment tender for the rental of state prop- Line that is expected to open in 2023. high floor loading, large floor plates terminated for an owner-occupier to James Chua erty. The tender was awarded to LHN The tender for Laguna Park clos- and high ceilings. A typical floor plate move in immediately, or an inves- account manager | Facilities Management, which is an in- es on May 8. spans about 43,000 sq ft, while the av- tor could refurbish the building or Pang Kai Xin regional business direct subsidiary of Singapore-based erage floor-to-ceiling height is about change the tenant mix. Alternative- development manager | Cole Tan real estate management services group Big Box building in Jurong East seven metres. It has large passenger ly, the driveway could be decanted to head of marketing & branding | LHN Limited. LHN will fully custom- put up for sale by managers and cargo lifts, as well as a covered make way for additional retail space Rachel Lim Shuling ise the design and renovation of the The Big Box industrial building in Ju- carpark and a ground-floor canteen. on the ground floor. CIRCULATION property to Hmlet’s requirements, and rong East has been put up for sale by The property is fully tenanted. It Based on a URA reply, up to 40% of managers | Ashikin Kader, build additional facilities like a swim- its receivers and managers. The de- has 15 tenants, with most of the tenan- the GFA could be considered for resi- Bryan Kek ming pool, a gym, and an all-day, in- velopment was last put up for sale in cies structured with rental escalation. dential use, says Clemence Lee, sen- executive | Malliga Muthusamy house café. May last year. The building is 400m from Paya ior director of capital markets, at JLL. CORPORATE The refurbished property will open The eight-storey facility is approved Lebar MRT Station, and is located The property is a 10-minute walk chief executive officer | in July. Hmlet is set to raise its mem- for Business 1 usage and will be offered within the Paya Lebar Central com- from Paya Lebar and Eunos MRT sta- Bernard Tong bership numbers to more than 2,400 with mostly vacant possession. The mercial hub. tions, and is a 15-minute drive to PUBLISHER in the Asia-Pacific this year. site area is 606,639 sq ft. The build- The completion of the nearby Paya the CBD. It is also accessible by the The Edge Property Pte Ltd ing has ramp-up warehouse specifica- Lebar Quarter has contributed to me- Pan-Island and Kallang-Paya Lebar 150 Cecil Street #13-00 Singapore 069543 Laguna Park attempts en bloc tions with ceiling heights of five to 18 dian office rents in the area rising by Expressways. Tel: (65) 6232 8688 sale again at $1.48 bil price metres, and a total gross floor area of almost 20% from its last trough in The sale will be made through an Fax: (65) 6232 8620 The 516-unit Laguna Park, located off 1.405 million sq ft. 4Q2018. “The lack of supply of high- expression of interest exercise, which Marine Parade Road, has relaunched a Big Box is connected to nearby spec industrial space in central areas closes on May 14. PRINTER KHL Printing Co Pte Ltd collective sale bid at $1.48 billion. The buildings such as JEM, and its under- like Paya Lebar has also pushed the 57 Loyang Drive 40-year-old residential estate last at- ground pedestrian walkways provide rents for such spaces above $3 psf per Freehold industrial building in Singapore 508968 tempted a collective sale in September direct access to Jurong East MRT Sta- month,” says Shaun Poh, executive di- Aljunied for sale at $23 mil Tel: (65) 6543 2222 Fax: (65) 6545 3333 last year with the same price tag. Two tion. There are 1,726 carpark lots and rector of capital markets at Cushman A freehold industrial building at 51 earlier collective sale attempts were ancillary container and lorry parking & Wakefield, which is the sole mar- Lorong 21 Geylang is on the market PERMISSION AND made in 2007 and 2010. lots on the site. keting agent for the sale of the Eunos for $23 million, or $599 psf per plot REPRINTS Including the latest estimates for The facility was completed in 2014. Avenue 3 property. ratio, according to Edmund Tie & Co Material in The Edge Property may not be reproduced in any an additional differential premium and The site has a remaining land tenure The sale will be made through an (ET&Co), the sole marketing agent form without the written lease top-up, the reserve price trans- of 18 years. The building is suitable expression of interest exercise, which for the sale. permission of the publisher lates to a land rate of $1,231 psf per for corporates with e-commerce and closes on May 16. The property is held under a single plot ratio. The differential premium technology platforms, large-scale logis- ownership which is likely to make for We welcome your comments is estimated to be $407.4 million for tics operators, and third-party service Freehold commercial building a straightforward sale. “The relatively and criticism: propertyeditor.sg@ the intensification of the site to a plot providers. It is near Jurong Port and in Joo Chiat on the market for palatable quantum of the property pre- bizedge.com ratio of 2.8, and the top-up premium the Jurong Lake District. $20 mil sents a rare opportunity for end-users Pseudonyms are allowed but for a fresh 99-year lease is expected JLL has been appointed to conduct A freehold commercial building at 118 and developers to acquire a rare free- please state your full name, to cost $420.7 million. an expression of interest (EOI) exercise Joo Chiat Road has been launched for hold industrial site at a city-fringe lo- address and contact number for Laguna Park is a 99-year leasehold for the facility. The EOI was launched sale at a guide price of $20 million. cation,” says Swee Shou Fern, exec- us to verify. residential estate comprising seven on April 9 and bids are due on May 23. The price translates to about $1,077 utive director of investment advisory residential blocks and 12 commercial psf on the existing gross floor area at ET&Co. units, and sits on a 669,485 sq ft site. High-specification industrial (GFA). The four-storey building sits on a The new owner will also have po- A new development could yield 1,741 building in Paya Lebar up for 4,686 sq ft site, and has a GFA of 18,571 tential signage and naming rights for residential units of about 1,076 sq ft. sale sq ft. It comes with an attic and a lift. the property. “With Laguna Park over 40 years A high-specification industrial building The building is zoned for commer- Located in a mature industrial cluster old, maintenance costs are expected at 115 Eunos Avenue 3, known as the cial use under the 2014 Master Plan, near Aljunied MRT Station, the prop- to go up. Owners are open to achiev- Zhaolim Building, is up for sale. and is currently approved for shops erty sits on a site of 15,364 sq ft. The ing a sale by moderating their price ex- The three-year-old property sits on on the ground floor and offices on land has a gross plot ratio of 2.5, and pectations,” says Ian Loh, head of in- an 83,076 sq ft plot of land and has a the upper floors. There is also a me- CONTINUES ON PAGE EP8

KNIGHT FRANK ET&CO

The freehold industrial building near Aljunied MRT Station sits on a Laguna Park comprises seven residential blocks and 12 commercial units on a 669,485 sq ft site site of 15,364 sq ft EDGEPROP | APRIL 15, 2019 • EP3

Top Boutique Top Executive Development Condominium Excellence Excellence

TOP PROPERTY DEVELOPMENT EXCELLENCE These awards recognize Singapore’s top scoring developments in the Design, Landscape, Sustainability, Innovation and Marketing Excellence awards, displaying all-roundedness from planning to execution and delivery.

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Top Boutique Development Top Executive Condominium Excellence Award Excellence Award The Orient I Aurum Land Pte Ltd Lush Acres I City Developments Limited Watercove I Bukit Sembawang Bellewoods I Qingjian Realty (South Pacific) Estates Limited Group Pte Ltd

Visit https://awards.edgeprop.sg/awards-eligibility to check your project eligibility.

S : I P : EP4 • EDGEPROP | APRIL 15, 2019

CO-WORKING

Lendlease will manage a new 72,000 sq ft co-working space at Paya Lebar Quarter

PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE Lendlease beefs up Paya Lebar Quarter with new co-working brand ‘csuites’

| BY TIMOTHY TAY | bining the best of traditional office spaces its Asian headquarters and PLQ development to be established organisations. “The pool of and dynamic co-working environments. The team into the workspace. potential clients here are either corporates endlease, the developer behind the 4ha co-working space will feature 10 office suites. “We have 10 suites available and each will which want some flex-space, or mid-sized or- Paya Lebar Quarter (PLQ), is entering the These suites are of various sizes: the smallest be supported by additional hot-desking and ganisations which may have grown out of a competitive co-working fray in Singapore office suite can fit 50 persons, and there are flexible workspaces when required,” says Lom- co-working space,” says Ng Hsueh Ling, chief with its own flexible workspace brand three such suites. There are also two suites that bardo. Walls between the office suites can be investment officer of Lendlease Asia and the called csuites. The 72,000 sq ft work- can fit 60 persons each, while other suites can removed to create a larger office space for larg- managing director of Singapore for Lendlease. Lspace is located in one of its three Grade-A fit 75 to 105 persons each. The largest office er-sized groups, he adds. “Corporates from a traditional office environ- office towers in PLQ. suite, which accommodates up to 170 peo- Lendlease is marketing the suites to an up- ment can enjoy generous desks at csuites as “Csuites has been conceptualised to support ple, is home to Lendlease, which has moved market clientele, and expects its future tenants well as the benefits of a flexible workplace.” the needs of growing enterprises with employ- ee teams of between 50 and 150 people,” says Tony Lombardo, CEO of Lendlease Asia. The workspace solution caters to small- and medi- um-sized enterprises, enabling shorter leases, immediate move-ins, as well as security and sustainability credentials. This new co-work- ing brand by Lendlease is being trialled at PLQ, “but on the basis we see success here and get it fully leased, we would want to do more of these flexible workspaces”, says Lombardo. The flexible workspace will occupy 72,000 sq ft across the fourth and fifth floors in the office tower PLQ3, which also houses conven- tional office space for tenants such as transport operator SMRT, property consultancy CBRE, and insurance company Great Eastern. All three companies are expected to take up their respective spaces by end-July. The entire PLQ integrated development boasts more than one million sq ft of office space, and more than 70% has already been leased, says Richard Paine, managing direc- tor of PLQ.

Space for corporates With csuites, Lendlease says it is delivering a “new generation workplace solution” com- Lendlease's Asian headquarters and Paya Lebar Quarter development team have been relocated into its new flexible workspace EDGEPROP | APRIL 15, 2019 • EP5

CO-WORKING

ALBERT CHUA/EDGEPROP SINGAPORE SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

From left: Richard Paine (managing director of Paya Lebar Quarter), Tony Lombardo (CEO, Lendlease Asia) csuites is located at PLQ3, the third Grade-A office tower in Paya Lebar Quarter and Ng Hsueh Ling (chief investment officer, Lendlease Asia)

Typical desks are 150cm long and provide a fice suites feature sound-dampening walls and OfficeRnD, and allows csuites tenants to un- grown tech firm Habitap, PLQ Workspaces large amount of workspace. noise-cancelling duct-works to reduce the sound lock workspaces they have booked with their is a custom app built for Lendlease that con- A potential csuites tenant is also consider- emanating from utility pipes. Another wellness mobile phone. nects the three office towers, retail podium, ing taking up some conventional office space aspect is the variety of work desks in each of- Lendlease will also map out heavily fre- and the residential component of 429-unit in PLQ, and a number of interested companies fice suite, which include sit-stand desks, team quented areas and collect data on space utili- Park Place Residences. have divisions which are content with working tables, and desks along the windows. sation rates throughout the workspace. While the office buildings and retail compo- from their own satellite area, Ng adds. Lendlease says that companies looking for “By having data about how many people nent are expected to be completed by the end There have been “very strong enquiries and new workspaces today want places with ser- are in the space and what time they are there, of the year, residents are expected to move in interest” for csuites, says Lombardo. Lendlease vices that can better support their employees, you can get a sense of which areas are popu- next year. The 99-year leasehold development has already signed a tenancy with a multina- and there is a major focus on well-being, talent lar and which aren’t,” says Paine. Lendlease is Lendlease’s maiden residential development tional company and is in discussions with oth- attraction and enhanced productivity. will use the data to better furnish the spac- in Singapore, and comprises a mix of one- to er interested organisations. “We have been watching the [co-working] es that are used more frequently with more three-bedroom units in three residential tow- Lendlease is offering one- to three-year leas- market evolve and drawing valuable insights seats or work desks to better meet demand ers. More than half the units were snapped up es for office suites in its flexible workspace. from the first generation of co-working mod- usage there. on the first day of launch in May 2017, and “We welcome prospective tenants to get in els. Today, workplace design is a dynamic sec- the second tranche of units were launched for touch and experience what csuites have to of- tor with an increasing focus on people-centric Part of a wider ecosystem sale in April last year. fer, and we’ll then be able to share more de- design and collaboration,” says Lombardo. However, csuites will not be the only co-work- According to Lendlease, just seven units – tails on our rates,” says Ng. ing brand in PLQ. Global office provider IWG three-bedroom units of 1,076 sq ft to 1,367 sq Encouraging collisions and connections is expected to open a 52,000 sq ft co-working ft – remain available for sale. The average sell- People-centric design About 35% of the total floor area at csuites space under its Spaces brand in PLQ1 by end- ing price of units sold in the second phase is Incorporating flexible workspace for corpo- has been set aside for communal spaces that May. Lombardo says, “We have an arrangement about $1,950 psf. “With only these units left, rates and medium-sized business has always encourage people to interact. On the fifth floor with Spaces that any co-working tenancies be- it is clear that the proposition of a well-locat- been part of the development plan for PLQ. is a fully serviced reception, and the common low 50 people would be under the Spaces ar- ed mixed-use development where one can live, To better understand the local co-working area for tenants will feature a café managed rangement, and those above 50 would come work and play is a compelling one for home market, Lendlease relocated in 2017 its Asian by Providore, an event space for up to 150 to csuites.” buyers,” says Paine. headquarters of about 100 team members into people, as well as a variety of informal col- This deal was made to accommodate the Technology, connectivity, services, retail The Work Project’s flagship co-working space laboration spaces. two flexible workspace offerings so that both and F&B are all part of the modern workplace, at OUE Downtown Gallery on Shenton Way “These are places where tenants can work co-working brands could co-exist in PLQ. and today, the best workplaces are a big fac- in the CBD. at their leisure, and where they can also hold “When we started developing PLQ, we knew tor in attracting and retaining the best talent. “This lets us better understand the bene- informal meetings,” says Lombardo. we wanted to create an ecosystem here, so we “The disruption brought on by co-work- fits and limitations for our own organisation, Each office suite has at least one meeting allocated 15% of the total office space for flex- ing has now permeated into corporate work- employees and customers,” says Lombardo. room depending on its size, but other meet- ible workspaces,” says Paine. spaces, and Lendlease sees that as a growth From this, and its experience in workplace ing rooms and a boardroom can be booked The three office towers, which will house area,” says Lombardo. “For Lendlease to con- design, Lendlease has built csuites with a peo- through a dedicated mobile application for more than 10,000 workers, are also part of a tinue servicing our office tenants, we have to ple-centric design in mind. One area it is cham- tenants of csuites. The app is designed by wider ecosystem that encompasses the en- offer a product that ensures we remain rele- pioning is wellness in the workspace. The of- London-based space management platform tire integrated development. Built by home- vant to their needs in the future.” E

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

About 35% of the total floor area at csuites is set aside for communal spaces to encourage social interaction There are 10 office suites available, which can accommodate teams of 50 to 150 people EP6 • EDGEPROP | APRIL 15, 2019

COVER STORY

The Lilium and The Gazania will be new developments in the How Sun private residential estate

PICTURES: SAMUEL ISAAC CHUA/ EDGEPROP SINGAPORE SingHaiyi roots for flower power The Singapore-listed property group will roll out three new projects this year, starting with the preview of The Lilium and The Gazania later this month, followed by that of Parc Clematis some time in 3Q2019

| BY CECILIA CHOW | The biggest en bloc purchase made by – from one- to four-bedroom apartments – ca- ested in the How Sun area in the first place.” SingHaiyi to date is the former Park West, a tering to investors, young couples and families What’s more, Bartley MRT Station is just affodils, lilies, poppies and tulips have 99-year leasehold site. Its price tag of $840.9 as well as multi-generations living together. one stop from the Serangoon MRT interchange inspired many an English and Amer- million ($850 psf ppr) in January 2018 also Even though both developments will share station for the Circle and North East Lines. ican poet, while plum blossoms, pe- makes it the fourth biggest deal in the lat- some similarities in terms of façade treat- The MRT interchange station is also integrat- onies and chrysanthemums are sig- est en bloc wave of 2017-2018, and it ranks ment, they will have their own distinct de- ed with Nex – one of the biggest suburban nificant in classical Chinese poems among the biggest all-time en bloc deals to sign characteristics, says Sim. shopping malls in Singapore – and the Seran- Dand songs. It is not surprising, then, that even date. The new leasehold development, Parc The enduring appeal of both projects lies goon bus interchange. property developers turn to the world of flow- Clematis located on Jalan Lempeng, will be in the freehold tenure, and location within The How Sun estate is easily accessible by ers in search of exotic names for their projects. a high-rise project with 1,468 units. the How Sun private residential estate which car via Bartley Road, Upper Serangoon Road The latest to do so is Singapore-listed prop- is largely a landed housing estate, he adds. and Upper Paya Lebar Road. erty developer SingHaiyi Group, which will SIMULTANEOUS LAUNCHES In terms of amenities, the two developments Nearby is the upcoming Bidadari Estate, be unleashing its “flower series” – a trilogy SingHaiyi intends to launch The Gazania and are near top schools such as St Andrew’s announced in the 2013 Master Plan. Besides of new residential projects this year. They The Lilium simultaneously not only due to School, Maris Stella High School and Nan- seven new-generation public housing projects are The Lilium and The Gazania in the How their proximity, but also because they com- yang Junior College. with a total of 6,100 units, there will also be Sun private residential estate, which are like- plement each other, says Sim. Both projects parks, gardens, communal and social spac- ly to be previewed some time this month; are designed by Singapore-based RSP Archi- PROXIMITY TO MRT, BIDADARI ESTATE es, lakes, dedicated bicycle paths and walk- and Parc Clematis in the neighbourhood of tects Planners & Engineers. “We thought that The nearest MRT station is Bartley on the Cir- ing trails. In the future, The Woodleigh Mall, Clementi, scheduled to be unveiled some the smaller development with 80 units will cle Line, which is just a three-minute walk which is integrated with the Woodleigh MRT time in 3Q2019. appeal to those who want a residence that’s from The Gazania, and a six-minute walk station, is just one stop from the Serangoon According to Gregory Sim, deputy CEO of quiet and serene,” he explains. “The 250- from The Lilium. “It’s very rare to find free- interchange station. SingHaiyi Group, one of the reasons behind unit development, being bigger, will appeal hold private condos located so close to an “Having all these new amenities will help the “flower series” was to inject softer ele- to those who want a more active, vibrant life- MRT station,” Sim points out. “That was cer- create value for future home owners of The ments into the properties. “People often as- style. We then picked names of flowers that tainly one of the reasons why we were inter- Gazania and The Lilium,” Sim adds. sociate real estate with the hard elements would resonate with the respective projects’ such as concrete, aluminium and steel,” he characteristics.” says. “We hope to introduce a softer aspect The idea of using flower names arose from through the names of the projects, the archi- a discussion between Sim and Celine Tang, tectural lines and our landscaping.” SingHaiyi’s group managing director. “Since the former development Sun Rosier has the THREE EN BLOC PURCHASES word ‘sun’, we thought the perfect comple- WORTH $1.2 BILLION ment would be the ‘moon’,” says Sim. “But All three developments are collective sale sites it’s hard to relate ‘sun’ and ‘moon’ back to purchased by SingHaiyi and its related par- property.” ties over a five-month period from September The idea was therefore to choose the names 2017 to January 2018. The purchases amount- of flowers that bloomed in the day and the ed to more than $1.19 billion. night. The result was “lilium”, which is a It started with the purchase of the former type of lily that resembles a lotus flower that Sun Rosier for $271 million ($1,325 psf per blooms at night, for the former How Sun Park. plot ratio or psf ppr) in September 2017. The The former Sun Rosier took on the name of site will be redeveloped into The Gazania, “gazania”, also known as “the African dai- a low-rise, freehold condominium develop- sy” or “treasure flower”. It comes in vibrant ment of about 250 units on How Sun Drive. colours and responds very well to the sun. This was followed two months later by the At The Lilium, unit types range from two- purchase of the former How Sun Park for $81.1 to four-bedroom apartments. The project will million ($1,092 psf ppr). Located along How Sun cater to those who want more space and a Road, the new, freehold boutique development tranquil environment, says Sim. The Gaza- that will be built on the site is The Lilium, and nia, on the other hand, being a larger devel- will contain about 80 units. opment, will have a wider mix of unit types Sim: It’s very rare to find freehold private condos located so close to an MRT station EDGEPROP | APRIL 15, 2019 • EP7

COVER STORY

PICTURES: SINGHAIYI

The façade of the 250-unit, freehold The Gazania located on the site of the former Sun Rosier along The three, 25-storey towers of Parc Clematis will have 1,468 units instead of the 1,765 units that could How Sun Drive potentially be built on the site

FREEHOLD TENURE – KEY DIFFERENTIAL when they are fully developed, notes Alan into a brand-new, 25-storey condo with a to- cilities to cater to a diverse range of residents’ He acknowledges that there have been many Cheong, executive director of research & con- tal of 1,765 units. However, SingHaiyi decid- needs,” says Sim. new launches in the Hougang-Serangoon and sultancy at Savills Singapore. ed to build 1,468 units instead. “Right from In addition to co-kitchens, residents at Parc Woodleigh-Potong Pasir areas over the past 12 “The value of a freehold tenure can- the start, we knew we didn’t want to maxim- Clematis can also look out for other shared fa- months: the 613-unit The Garden Residences not be overstated,” concedes Ismail Gafoor, ise the number of units in the development,” cilities such as co-dining pavilions, self-service and 1,052-unit Affinity at Serangoon at Seran- CEO of PropNex. “A lot of people appreciate says Sim. “We didn’t want to have unit sizes large washing machines and dryers, as well as goon North Avenue 1 launched in June last the value of freehold property over the long that were too small.” vending machines. year; followed by the 1,427-unit Riverfront term, and are willing to pay a premium for To optimise space use, SingHaiyi's team Residences at Hougang Avenue 7 and the it. But developers are also cognisant of the embarked on a fact-finding mission. “The life- STAKES IN OTHER LISTED DEVELOPERS 805-unit Park Colonial at Woodleigh Link on fact that homebuyers are very price-sensitive styles of people have changed, so we need to Besides being group managing director of the evening of July 5, the eve of the imple- today, and will therefore price their projects adapt,” says Sim. “We wanted to see how peo- SingHaiyi, Celine Tang is also the chairman of mentation of the property cooling measures. accordingly.” ple utilise the space and the appliances with- Singapore-listed construction company, Chip The 729-unit The Tre Ver at Potong Pasir Following the launch of The Gazania and in their home.” Eng Seng Corp, after becoming the latter’s larg- Avenue 1 was launched last August, while The Lilium, SingHaiyi will be looking at re- One example is the living and dining area. est shareholder last October. Tang and her hus- The Woodleigh Residences released 50 units plenishing its landbank. “We are a listed com- According to Sim, some homeowners say they band, Gordon, had purchased 29.7% of Chip Eng at a preview last November. The latest launch pany, and we will have to start looking for do not mind having a smaller living room if Seng’s shares from the company’s founder, Lim in the area was the 1,410-unit The Florence suitable sites even before the launch of Parc it means having a bigger master bedroom be- Tiam Seng and six other members of his fam- Residences in March this year. Clematis,” says Sim. “It’s not easy to find the cause they now watch television and movies ily who are also major shareholders. Chip Eng “We will certainly draw reference from right site so we should actively look out af- on their personal devices in their bedroom. Seng’s property development arm, CEL Develop- projects nearby, like The Woodleigh Resi- ter launching these two projects.” Another example is the oven, a standard pro- ment, is the developer of Parc Colonial and the dences and Park Colonial, and try to strike vision in the kitchens of most condominiums upcoming redevelopment of the former Changi a balance between the two,” says Sim. Pric- PARC CLEMATIS – WITHIN AN today. “Judging from my own personal expe- Garden which it purchased in October 2017. es of units sold at Park Colonial may have ESTABLISHED RESIDENTIAL AREA rience, I use my oven perhaps only once or Tang is also the non-executive chairman of averaged about $1,736 psf at launch in July The third and biggest project launch in Sin- twice a year to bake cookies with my chil- Singapore-listed property group, OKH Global, in 2018. However, more than 60 units were sold gHaiyi’s residential property portfolio to date dren during Christmas or roast something which she and her husband acquired a 44.3% at prices above $1,900 psf, with close to 20 will be Parc Clematis, which derives its name over New Year,” says Sim. stake in 2016 through the issuance of new shares units sold at prices above $2,000 psf. Mean- from a genus of flowers within the buttercup A more practical solution is to provide mi- at a discount to market price. while, the average price of units released at family. The site is on Jalan Lempeng, just off crowave combination ovens for the one- and Despite holding substantial stakes in the two The Woodleigh Residences last November Clementi Avenue 6. It is well-served by amen- two-bedroom units at Parc Clematis, which not other listed companies, Tang is “more involved was $2,025 psf. ities, being located in the vicinity of parks and only occupy less space, but are also more like- with SingHaiyi”, says Sim. The three listed com- Sim highlights that while these projects the rail corridor, as well as Nan Hua Primary ly to be used regularly, he adds. panies “operate very independently from one are leasehold, The Gazania and The Lilium School, Clementi Mall and Clementi MRT Sta- Residents of such units who want to use the another”, he adds. are freehold. “Our pricing strategy is pegged tion on the East West Line. larger, conventional ovens for baking, could still However, he “wouldn’t rule out the possi- to recent new launches in the Bidadari area, Like The Gazania and The Lilium, Parc do so at the “co-kitchen” that SingHaiyi will be bility” of the three entities doing joint ventures with a premium of about 15% to 20% accord- Clematis is also located within an established introducing at Parc Clematis. The co-kitchen in the future, especially if they are bidding for ed to the freehold status of the two projects.” landed housing estate, namely Faber Park. will house 10 to 12 ovens, which residents can a big development site. “We could leverage one These two condos – The Gazania and The Parc Clematis sits on a site area of 633,644 book for use. There will be ovens reserved for another’s expertise,” he says. “So if there’s a Lilium – will stand out as among the few new sq ft – the equivalent of about nine soccer halal and for vegetarian food. “Given the scale mega-sized project in the future that we are freehold developments in the Bidadari area fields. It has the potential to be redeveloped of the project, we are able to provide such fa- keen on, why not?” E

The clubhouse fronting the 50m lap pool at The Gazania Homebuyers at The Gazania and The Lilium have a choice of the warm and cool scheme (pictured) EP8 • EDGEPROP | APRIL 15, 2019

OFFSHORE

Macau group targets rich Hong Kong retirees with promise of better quality of life in Greater Bay Area

| BY PEARL LIU, SCMP | “It is time for Hong Kong’s retired people to with diversified interests. With a 132-room hotel, two treatment cen- embrace high-end housing and services,” said The units, however, are not cheap. A 657 tres with more than 400 nurses and doctors Macau conglomerate is targeting Amber Li, founder of Serensia Woods, a 300-unit sq ft studio in Serensia Woods, about 20 min- providing a range of treatments and other fa- Hong Kong’s affluent retirees, urg- retirement community in Zhuhai’s Hengqin area. utes by car via the Hong Kong-Zhuhai-Macau cilities, Li is confident of the project’s success ing them to leave the city’s cramped “Hongkongers are among the wealthiest people Bridge and 10 minutes from Macau’s border, is and expects it to be sold out soon. retirement homes for a better qual- in the world, but they live in cramped spaces.” priced at more than HK$6 million ($1 million). She said all the facilities at the development ity of life across the border in the The RMB 2 billion ($402 million) project is Meanwhile a Hong Kong retiree seeking a will be available in September 2020 when the AGreater Bay Area. part of HN Group, the nearly 100-year-old group 480 sq ft flat at Hong Kong Housing Society’s first buyers move in. The Tanner Hill, the city’s first quality home “We are not developers building and sell- DICKSON LEE/SCMP for those above the age of 60 in North Point, ing property, or pure nursing homes provid- is required to pay a one-off “life lease” fee of ing beds or space only for elderly. We are sell- HK$6.3 million. ing the services for wellness and retirement,” Life-lease only allows the person to stay in said Li, who waited 20 years to see the pro- the home until they die, which then goes back ject through. “Since I could not find a place to the society and is leased to someone else. where I want to spend my time after I retire, I The Tanner Hill, equipped with a Chinese thought why not build one myself?” medicine clinic, a wellness centre, is fully occu- The company initially sold more than 10 pied. The home is so popular that are more than units during a presale in 2016, mainly to buy- 1,000 people on the waiting list as of March. ers from Hong Kong and Macau. In Hong Kong, those over 65 will account for The ownership of units that ranges from 30 per cent of the population by 2034, up from HK$6 million to HK$30 million entitles buyers 1 million or 16 per cent currently. “membership”, giving them access to all the fa- According to study by Terry Lum, director cilities in the community, barring a few services. of the Sau Po Centre on Ageing at the Univer- The membership can also be sold to oth- sity of Hong Kong, nearly 7 per cent of Hong er buyers or transferred to other family mem- Kong’s old folk – about 68,000 people – live in bers free of cost. nursing institutions, while some 2.5 per cent are “We want people with real needs, not on standby. As demand for old age homes ris- speculators, to come to our community,” Li said. es and the city is unable to accommodate the needs, operators like Serensia Woods are step- — This story first appeared in the South Serensia Woods, an elderly home project in Hengqin, Zhuhai, is expected to be ready by September 2020 ping in to bridge the gap. China Morning Post on April 10. E

FROM PAGE EP2 Shanghai is in the city’s CBD of Hongqiao, has natural wood floors and furniture. The vas and a beacon to people in the surround- is zoned for Business 1 use under the 2014 and is expected to open in 2022. In Kuala kitchen is fully equipped with Lauren Nich- ing area,” he says. Master Plan. The site may be redeveloped Lumpur, lyf Raja Chulan Kuala Lumpur is lo- olas kitchen brand appliances, marble coun- This project is Crown Group’s first step in to a maximum allowable gross floor area of cated in the capital’s “Golden Triangle” – the ter-tops, and breakfast-bar seating. realising an A$3 billion ($2.9 billion) develop- 38,410 sq ft, and no development charge is city’s commercial, shopping, and entertain- The residences are located adjacent to the ment pipeline in Melbourne. “Our bigger plan payable, the agent says. ment hub. It is expected to open next year. hotel, and will have a separate entrance on is to grow our pipeline in Melbourne, but we The tender exercise will close on May 28. “Demand for our lyf-branded co-living Brick Street. Both buildings are in the pres- wanted to start with a single project first to properties is gaining ground,” says Ascott CEO tigious Mayfair neighbourhood and are op- test the market,” says Iwan Sunito, chairman Kevin Goh. “We are bringing lyf to Fukuoka, posite Hyde Park, with easy access to all ma- and CEO of Crown Group. The site was cho- Kuala Lumpur and Shanghai as the buzzing jor rail links. sen “because it is strategically located in the International start-up ecosystems in these cities have given The hotel and residences are part of the arts precinct and close to St Kilda Road, with rise to a popular culture of living and co-cre- Singapore-based COMO Group by local busi- unblocked views of the city”, Sunito says. ating as a community among the millennials.” nesswoman Christina Ong. Together with her Crown Group’s new project complements Ascott banks on co-living lyf brand Millennials already account for a quarter husband, Ong Beng Seng of Singapore-listed the Victorian government’s plan to invest more with three new overseas properties of Ascott’s customer base. With the lyf brand, Hotel Properties, they have developed prime than A$200 million over the next two years into The Ascott Limited (Ascott) has secured con- the company hopes that it will be able to seize residential developments in Singapore in- Southbank and the surrounding arts precinct, tracts to manage three new properties under more opportunities from this customer base cluding Four Seasons Residences and Tom- to attract more than three million visitors each its lyf co-living brand. These properties are which it believes is set to become the larg- linson Heights. year. — Compiled by Timothy Tay E located in Fukuoka, Japan; Kuala Lumpur, est spending demographic in the near future. Malaysia; and Shanghai, China. The company is also looking to bring lyf Crown Group unveils first CROWN GROUP With the three new properties, Ascott now to Australia, France, Germany, Indonesia, development in Melbourne has eight lyf properties comprising more than and the UK. Australian property developer Crown Group 1,600 units under development. The other lyf has unveiled its maiden residential project in properties are located in Singapore, Thailand Singapore-based COMO hotelier Melbourne. The 152-unit development will be and the Philippines. opens luxury residences in London’s located in the city’s Southbank neighbourhood The three new co-living management con- Mayfair and the first tranche of units will be launched tracts were announced on Tuesday (April 9), Luxury hotel COMO Metropolitan London is later this year. together with 11 other management contracts developing luxury residences beside its May- The new project, a joint venture with Mel- secured by Ascott. These comprise more than fair hotel, which will complement its exist- bourne-based developer G3 Projects, will com- 2,000 residential units in eight different coun- ing hospitality offering. The 10 luxury private prise two towers of 14 and 16 storeys sitting tries, including Germany, India, Indonesia, apartments will open this June, and are ide- on a corner site of 22,281 sq ft. The units will Thailand, and Saudi Arabia. Ascott is a whol- al for long or short stays in London for trav- be a mix of studios and one- to three-bed- ly owned lodging business unit of property ellers on business or family trips. room apartments. Residents will have access giant CapitaLand. The residences feature two-bedroom units, to a rooftop lounge and garden, a theatre, a The 131-unit lyf Fukuoka is expected to and residents will have access to the same children’s play area, an indoor pool, and a open in 2020, and will be located in the city’s five-star facilities and services as the hotel. ground-floor café. There will also be park- major retail and recreational centre. Ascott There will be 24-hour room service and dai- ing spaces for 140 cars and 40 bicycles in a will manage lyf Fukuoka in a partnership with ly maid and laundry services. A 24-hour con- four-storey podium. Japanese real estate company NTT Urban cierge will be on hand, and residents will The art-themed development is designed by Development Corp, a subsidiary of Nippon have access to the hotel’s wellness centre, a architect Koichi Takada, and the project fea- Telegraph and Telephone Corp. The partners gym, and priority reservations at its Gridiron tures two curved white towers encircled by sin- will also jointly explore serviced residence or Nobu restaurants. uous white “ribbons”. “The ribbons will form a opportunities in the country. The apartments feature open-plan living beautiful pattern that will gleam white, reflect- Crown Group’s 152-unit development will comprise Meanwhile, the 160-unit lyf Hongqiao and dining areas, while an entertainment area ing the light, creating an ever-changing can- two towers of 14 and 16 storeys EDGEPROP | APRIL 15, 2019 • EP9

COVER STORY

        

 

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DONE DEALS

Residential transactions with contracts dated March 26 to April 2 Singapore — by postal district LOCALITIES DISTRICTS LAND AREA/ UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 THE QUAYSIDE Apartment 99 years Mar 29 1,173 1,748,888 1,491 1998 Resale Balestier/MacPherson/Geylang 12 to 14 District 10 East Coast 15 and 16 3 CUSCADEN Apartment Freehold Mar 30 1,270 4,678,515 3,683 Uncompleted New Sale Changi/Pasir Ris 17 and 18 3 ORCHARD BY-THE-PARK Condominium Freehold Mar 29 2,260 8,287,000 3,666 2017 Resale Serangoon/Thomson 19 and 20 ALLSWORTH PARK Condominium 999 years Mar 28 1,959 3,300,000 1,684 1985 Resale ALLSWORTH PARK Condominium 999 years Mar 28 1,959 2,950,000 1,506 1985 Resale West 22 to 24 BOULEVARD 88 Apartment Freehold Mar 26 2,799 10,264,800 3,668 Uncompleted New Sale North 25 to 28 BOULEVARD 88 Apartment Freehold Mar 27 1,776 6,504,000 3,662 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Mar 27 5,683 28,000,000 4,927 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Mar 28 1,776 5,896,000 3,320 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Mar 28 1,313 4,792,000 3,649 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Mar 30 1,313 4,736,000 3,606 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Mar 31 2,799 10,424,000 3,725 Uncompleted New Sale D'LEEDON Condominium 99 years Mar 28 1,152 1,900,000 1,650 2014 Resale FOURTH AVENUE RESIDENCES Apartment 99 years Mar 26 1,109 2,716,000 2,450 Uncompleted New Sale FOURTH AVENUE RESIDENCES Apartment 99 years Mar 29 710 1,684,000 2,370 Uncompleted New Sale GRANGE RESIDENCES Condominium Freehold Mar 27 2,852 7,150,000 2,507 2004 Resale HOLLAND RESIDENCES Condominium Freehold Mar 28 2,250 3,650,000 1,622 2012 Resale LEEDON 2 Condominium Freehold Mar 26 1,206 1,810,000 1,501 1996 Resale LEEDON 2 Condominium Freehold Mar 29 840 1,580,000 1,882 1996 Resale M5 Apartment Freehold Mar 26 441 960,000 2,175 2018 New Sale JALAN ARNAP Semi-Detached Freehold Mar 26 3,154 6,828,000 2,166 Unknown Resale NAMLY COURT Terrace Freehold Mar 29 2,799 3,500,000 1,251 1998 Resale LAND AREA/ UNIT PARVIS Condominium Freehold Mar 29 1,701 3,290,000 1,934 2012 Resale FLOOR AREA TRANSACTED PRICE TYPE OF THE CORNWALL Condominium Freehold Mar 27 1,044 1,860,000 1,781 2005 Resale PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE THE MONTANA Apartment Freehold Mar 26 1,109 1,900,000 1,714 2002 Resale District 1 THE SIXTH AVENUE RESIDENCES Condominium Freehold Mar 26 1,356 2,200,000 1,622 2009 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 27 2,174 6,285,600 2,891 2017 New Sale VOLARI Condominium Freehold Mar 29 1,636 3,350,000 2,048 2012 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 27 2,250 5,278,740 2,346 2017 New Sale District 11 MARINA ONE RESIDENCES Apartment 99 years Mar 27 2,034 5,444,610 2,676 2017 New Sale BARKER TERRACES Terrace Freehold Apr 01 2,616 3,320,000 1,269 2006 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 27 2,174 6,596,970 3,034 2017 New Sale HILLCREST ARCADIA Condominium 99 years Apr 02 2,745 2,450,000 893 1980 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 27 1,561 4,268,000 2,735 2017 New Sale HILLCREST VILLA Terrace 99 years Apr 02 3,100 2,950,000 952 2009 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 28 743 1,871,000 2,519 2017 New Sale LA NOUVELLE Apartment Freehold Mar 29 1,023 1,420,000 1,389 2003 Resale MARINA ONE RESIDENCES Apartment 99 years Mar 28 1,561 3,988,000 2,555 2017 New Sale BARKER ROAD Terrace Freehold Mar 28 1,722 4,000,000 2,325 1991 Resale THE SAIL @ MARINA BAY Apartment 99 years Mar 26 1,184 2,380,000 2,010 2008 Resale PAVILION 11 Condominium Freehold Mar 26 958 1,730,000 1,806 2009 Resale District 2 SOLEIL @ SINARAN Condominium 99 years Mar 28 581 1,050,000 1,806 2011 Resale ICON Apartment 99 years Mar 28 581 1,000,000 1,720 2007 Resale SOLEIL @ SINARAN Condominium 99 years Apr 02 1,098 2,080,000 1,894 2011 Resale SPOTTISWOODE RESIDENCES Condominium Freehold Mar 28 603 1,105,000 1,833 2013 Resale THE GREENWOOD Terrace Freehold Apr 02 1,625 4,350,000 2,673 2006 Resale WALLICH RESIDENCE Apartment 99 years Mar 26 915 3,399,000 3,715 2017 Resale THOMSON 800 Condominium Freehold Mar 26 1,625 2,050,000 1,261 1999 Resale WALLICH RESIDENCE Apartment 99 years Apr 01 646 2,395,000 3,708 2017 Resale District 12 District 3 DE ROYALE Condominium Freehold Mar 26 1,281 1,888,888 1,475 2006 Resale ECHELON Condominium 99 years Mar 28 1,475 2,478,000 1,680 2016 Resale JUI RESIDENCES Apartment Freehold Mar 31 883 1,473,000 1,669 Uncompleted New Sale MARGARET VILLE Apartment 99 years Mar 30 829 1,426,096 1,721 Uncompleted New Sale THE MARQUE @ IRRAWADDY Apartment Freehold Mar 26 883 1,185,000 1,343 2009 Resale STIRLING RESIDENCES Apartment 99 years Mar 26 689 1,233,000 1,790 Uncompleted New Sale TREVISTA Condominium 99 years Mar 27 915 1,180,000 1,290 2011 Resale STIRLING RESIDENCES Apartment 99 years Mar 27 624 1,099,000 1,760 Uncompleted New Sale TREVISTA Condominium 99 years Mar 29 1,152 1,570,000 1,363 2011 Resale STIRLING RESIDENCES Apartment 99 years Mar 27 786 1,436,000 1,828 Uncompleted New Sale District 13 STIRLING RESIDENCES Apartment 99 years Mar 28 678 1,274,000 1,879 Uncompleted New Sale 8@WOODLEIGH Condominium 99 years Mar 29 840 1,060,000 1,263 2012 Resale STIRLING RESIDENCES Apartment 99 years Mar 28 689 1,253,000 1,819 Uncompleted New Sale MOSELLA Detached Freehold Mar 28 5,500 3,060,000 556 2012 Resale STIRLING RESIDENCES Apartment 99 years Mar 28 764 1,331,000 1,742 Uncompleted New Sale PARK COLONIAL Condominium 99 years Mar 28 1,012 1,866,000 1,844 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 29 624 1,095,000 1,754 Uncompleted New Sale PARK COLONIAL Condominium 99 years Mar 29 1,442 2,171,000 1,505 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 29 678 1,270,000 1,873 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 26 646 1,000,000 1,548 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 30 980 1,653,000 1,688 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 26 495 808,000 1,632 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 30 678 1,321,000 1,948 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 26 700 1,082,000 1,546 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 30 689 1,265,000 1,836 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 27 689 1,105,000 1,604 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 30 786 1,488,000 1,894 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 27 753 1,205,000 1,599 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 30 764 1,367,000 1,789 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 28 689 1,111,000 1,613 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 31 624 1,087,000 1,741 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 28 700 1,166,000 1,667 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 31 624 1,083,000 1,735 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 29 743 1,262,000 1,699 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 31 624 1,107,000 1,773 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 30 495 801,000 1,618 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 31 689 1,289,000 1,871 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 30 495 796,000 1,608 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Mar 31 764 1,383,000 1,810 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 30 689 1,165,000 1,691 Uncompleted New Sale THE CREST Condominium 99 years Mar 27 980 1,983,000 2,024 2017 Resale THE TRE VER Condominium 99 years Mar 30 689 1,117,000 1,621 Uncompleted New Sale THE CREST Condominium 99 years Apr 02 1,270 2,318,000 1,825 2017 Resale THE TRE VER Condominium 99 years Mar 30 700 1,125,000 1,608 Uncompleted New Sale District 5 THE TRE VER Condominium 99 years Mar 31 753 1,180,000 1,566 Uncompleted New Sale FABER CREST Condominium 99 years Mar 28 1,270 1,200,000 945 2001 Resale THE TRE VER Condominium 99 years Mar 31 700 1,176,000 1,681 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Mar 28 732 1,170,000 1,598 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 31 700 1,182,000 1,689 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Mar 29 657 1,166,000 1,776 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 31 700 1,119,000 1,599 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Mar 30 646 1,090,000 1,688 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 31 700 1,125,000 1,608 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Mar 31 732 1,210,000 1,653 Uncompleted New Sale THE TRE VER Condominium 99 years Mar 31 1,012 1,658,000 1,639 Uncompleted New Sale PASIR PANJANG GARDENS Terrace Freehold Mar 26 2,626 3,200,000 1,217 Unknown Resale THE TRE VER Condominium 99 years Mar 31 743 1,220,000 1,643 Uncompleted New Sale REGENT PARK Condominium 99 years Mar 28 969 910,000 939 1997 Resale District 14 VARSITY PARK CONDOMINIUM Condominium 99 years Apr 01 1,012 1,200,000 1,186 2008 Resale ASTON MANSIONS Apartment 99 years Mar 28 1,302 1,100,000 845 1998 Resale VARSITY PARK CONDOMINIUM Condominium 99 years Apr 02 1,367 1,600,000 1,170 2008 Resale ASTOR Apartment 99 years Mar 28 861 780,000 906 2006 Resale WHISTLER GRAND Apartment 99 years Mar 26 614 835,920 1,362 Uncompleted New Sale CASA AERATA Apartment Freehold Mar 28 549 725,000 1,321 2012 Resale WHISTLER GRAND Apartment 99 years Mar 27 603 873,990 1,450 Uncompleted New Sale CENTRA HEIGHTS Apartment Freehold Mar 29 409 660,000 1,614 2014 Resale WHISTLER GRAND Apartment 99 years Mar 27 1,066 1,381,050 1,296 Uncompleted New Sale CENTRAL IMPERIAL Apartment Freehold Mar 28 549 580,000 1,057 2014 Resale WHISTLER GRAND Apartment 99 years Mar 27 958 1,299,240 1,356 Uncompleted New Sale E7 LODGE Apartment Freehold Apr 01 1,346 1,440,000 1,070 1991 Resale WHISTLER GRAND Apartment 99 years Mar 28 1,066 1,368,900 1,285 Uncompleted New Sale EUHABITAT Condominium 99 years Mar 26 1,582 1,780,000 1,125 2015 Resale WHISTLER GRAND Apartment 99 years Mar 29 1,281 1,618,380 1,263 Uncompleted New Sale MERA EAST Apartment Freehold Mar 29 1,195 1,390,000 1,163 2007 Resale WHISTLER GRAND Apartment 99 years Mar 29 958 1,299,240 1,356 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 26 904 1,457,000 1,611 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 30 958 1,323,540 1,382 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 26 635 1,087,000 1,712 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 30 764 1,027,890 1,345 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 26 710 1,215,000 1,710 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 30 958 1,363,230 1,423 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 26 840 1,416,000 1,687 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 30 1,066 1,459,620 1,370 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 26 420 748,000 1,782 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 31 764 1,077,300 1,410 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 28 452 821,000 1,816 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Mar 31 990 1,349,460 1,363 Uncompleted New Sale PARC ESTA Apartment 99 years Mar 29 710 1,195,000 1,682 Uncompleted New Sale WHITEHAVEN Apartment Freehold Mar 27 1,206 1,880,000 1,559 2016 Resale PARC ESTA Apartment 99 years Mar 30 420 759,000 1,808 Uncompleted New Sale District 7 PARC ESTA Apartment 99 years Mar 30 635 1,117,000 1,759 Uncompleted New Sale SOUTH BEACH RESIDENCES Apartment 99 years Mar 27 2,260 7,675,360 3,396 2016 Resale PARC ESTA Apartment 99 years Mar 31 1,119 1,789,000 1,598 Uncompleted New Sale SOUTH BEACH RESIDENCES Apartment 99 years Mar 29 1,399 4,833,900 3,454 2016 Resale PARC ESTA Apartment 99 years Mar 31 635 1,071,000 1,686 Uncompleted New Sale District 8 PARK PLACE RESIDENCES AT PLQ Apartment 99 years Mar 29 1,076 1,877,000 1,744 Uncompleted New Sale CITY SQUARE RESIDENCES Condominium Freehold Mar 28 1,496 2,245,000 1,500 2009 Resale REZI 24 Apartment Freehold Mar 31 1,195 1,783,000 1,492 Uncompleted New Sale KERRISDALE Condominium 99 years Mar 28 1,485 1,570,000 1,057 2005 Resale TRE RESIDENCES Condominium 99 years Mar 29 420 720,000 1,715 2018 Sub Sale District 9 VACANZA @ EAST Condominium Freehold Mar 28 807 888,000 1,100 2014 Resale 8 SAINT THOMAS Condominium Freehold Mar 28 872 2,638,000 3,026 2018 Resale VACANZA @ EAST Condominium Freehold Mar 29 840 970,000 1,155 2014 Resale 8 SAINT THOMAS Condominium Freehold Apr 02 1,044 2,828,000 2,709 2018 Resale VIENTO Apartment Freehold Mar 27 431 580,000 1,347 2013 Resale 8 SAINT THOMAS Condominium Freehold Apr 02 517 1,580,000 3,058 2018 Resale District 15 LUMA Apartment Freehold Mar 29 904 1,660,000 1,836 2011 Resale BUTTERWORTH 8 Condominium Freehold Mar 26 1,313 2,080,000 1,584 2004 Resale LUMA Apartment Freehold Mar 29 1,173 1,990,000 1,696 2011 Resale CARPMAEL THIRTY-EIGHT Apartment Freehold Mar 27 1,259 2,023,652 1,607 Uncompleted New Sale MARTIN MODERN Condominium 99 years Mar 30 764 1,990,800 2,605 Uncompleted New Sale DE CENTURION Apartment Freehold Mar 27 570 850,000 1,490 2010 Resale EMERALD HILL ROAD Terrace Freehold Apr 01 1,798 7,425,000 4,133 Unknown Resale EASTBAY Apartment Freehold Mar 28 689 1,009,050 1,465 2010 Resale ORCHARD SCOTTS Condominium 99 years Mar 28 2,282 3,300,000 1,446 2007 Resale FINLAND GARDENS Condominium Freehold Apr 01 1,851 2,300,000 1,242 1984 Resale OXLEY EDGE Apartment Freehold Mar 27 398 880,000 2,210 2016 Resale HAWAII TOWER Condominium Freehold Mar 27 2,239 2,828,888 1,264 1984 Resale PARC EMILY Condominium Freehold Apr 02 980 1,710,000 1,746 2008 Resale DUKU PLACE Terrace Freehold Mar 29 1,851 2,380,000 1,289 1952 Resale RIVERGATE Apartment Freehold Mar 28 1,776 3,800,000 2,140 2009 Resale OCEAN PARK Condominium Freehold Mar 28 3,897 4,150,000 1,065 1984 Resale RV ALTITUDE Apartment Freehold Mar 28 441 1,341,000 3,039 Uncompleted New Sale EDGEPROP | APRIL 15, 2019 • EP11

DONE DEALS

Residential transactions with contracts dated March 26 to April 2

LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE TYPE OF FLOOR AREA TRANSACTED PRICE TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE OPERA ESTATE Terrace Freehold Mar 29 2,519 3,088,000 1,228 Unknown Resale THE GARDEN RESIDENCES Apartment 99 years Mar 30 904 1,397,700 1,546 Uncompleted New Sale PEBBLE BAY Condominium 99 years Mar 27 2,809 5,100,000 1,815 1997 Resale THE GARDEN RESIDENCES Apartment 99 years Mar 31 452 711,900 1,575 Uncompleted New Sale SUNSHINE RESIDENCE Apartment Freehold Mar 28 969 1,053,000 1,087 2006 Resale THE LUXURIE Condominium 99 years Mar 28 1,055 1,285,000 1,218 2015 Resale THE ATRIA AT MEYER Condominium Freehold Apr 01 1,475 2,350,000 1,594 1996 Resale THE LUXURIE Condominium 99 years Apr 01 452 650,000 1,438 2015 Resale THE RAMFORD Apartment Freehold Mar 29 1,195 1,852,000 1,550 Uncompleted New Sale THE MINTON Condominium 99 years Mar 26 1,658 1,810,000 1,092 2013 Resale THE SHORE RESIDENCES Condominium 103 years Apr 01 1,055 1,616,000 1,532 2014 Resale THE PROMENADE@PELIKAT Apartment Freehold Mar 27 990 970,000 980 2015 Resale TIERRA VUE Condominium Freehold Apr 01 1,259 1,920,000 1,525 2009 Resale WATERTOWN Apartment 99 years Apr 01 581 785,000 1,351 2017 Sub Sale VILLA MARINA Condominium 99 years Mar 27 1,249 1,350,000 1,081 1999 Resale District 20 WORTHINGTON Apartment Freehold Mar 28 1,894 2,050,000 1,082 2010 Resale CENTRO RESIDENCES Condominium 99 years Mar 29 1,001 1,468,800 1,467 2014 Resale District 16 FABER GARDEN CONDOMINIUM Condominium Freehold Mar 29 2,153 2,500,000 1,161 1984 Resale CASAFINA Condominium 99 years Apr 01 1,302 1,172,000 900 1999 Resale GRANDEUR 8 Condominium 99 years Mar 26 1,421 1,528,000 1,075 2005 Resale CASAFINA Condominium 99 years Apr 01 1,270 1,180,000 929 1999 Resale JADESCAPE Condominium 99 years Mar 26 904 1,611,600 1,782 Uncompleted New Sale CHANGI GREEN Condominium Freehold Apr 02 1,130 1,230,000 1,088 1998 Resale JADESCAPE Condominium 99 years Mar 28 2,099 3,238,400 1,543 Uncompleted New Sale COSTA DEL SOL Condominium 99 years Mar 28 1,561 1,700,000 1,089 2004 Resale JADESCAPE Condominium 99 years Mar 30 904 1,605,400 1,776 Uncompleted New Sale COSTA DEL SOL Condominium 99 years Mar 29 1,313 1,800,000 1,371 2003 Resale JALAN SEMBILANG Terrace Freehold Apr 02 1,658 2,040,000 1,231 Unknown Resale EASTWOOD PARK Semi-Detached 99 years Mar 28 3,154 2,200,000 698 1997 Resale SEMBAWANG HILLS ESTATE Terrace Freehold Apr 02 1,905 2,600,000 1,363 Unknown Resale EASTWOOD REGENCY Apartment Freehold Mar 26 409 520,000 1,271 2010 Resale THE GARDENS AT BISHAN Condominium 99 years Apr 01 883 960,000 1,088 2004 Resale KEW GROVE Terrace Freehold Apr 01 2,357 2,650,000 1,122 1986 Resale District 21 JALAN TANJONG Terrace Freehold Mar 28 2,045 2,200,000 1,078 Unknown Resale BINJAI CREST Terrace 99 years Mar 28 3,778 2,350,000 622 2004 Resale PARBURY HILL CONDOMINIUM Condominium Freehold Apr 02 1,776 2,300,000 1,295 1997 Resale CASA ESPERANZA Condominium Freehold Mar 27 2,164 3,200,000 1,479 1992 Resale WATERFRONT KEY Condominium 99 years Mar 28 1,442 1,700,000 1,179 2012 Resale MAPLE WOODS Condominium Freehold Apr 02 1,335 2,080,000 1,558 1997 Resale WATERFRONT WAVES Condominium 99 years Apr 02 1,292 1,380,000 1,068 2011 Resale MAYFAIR GARDENS Condominium 99 years Mar 31 635 1,232,000 1,940 Uncompleted New Sale District 17 ENG KONG ROAD Semi-Detached Freehold Apr 02 2,713 4,100,000 1,511 1997 Resale LOYANG VALLEY Condominium 99 years Mar 26 1,873 1,330,000 710 1985 Resale PARC PALAIS Condominium Freehold Mar 26 1,206 1,425,000 1,182 1999 Resale PALM ISLES Condominium 99 years Mar 28 990 880,000 889 2015 Resale THE CASCADIA Condominium Freehold Mar 26 1,249 2,160,000 1,730 2010 Resale THE GALE Condominium Freehold Mar 26 980 960,000 980 2013 Resale District 22 THE GALE Condominium Freehold Mar 29 1,346 1,385,000 1,029 2013 Resale LAKEPOINT CONDOMINIUM Condominium 99 years Mar 27 2,217 1,500,000 676 Unknown Resale THE JOVELL Condominium 99 years Mar 29 452 611,000 1,352 Uncompleted New Sale THE CENTRIS Apartment 99 years Mar 28 1,238 1,470,000 1,188 2009 Resale THE JOVELL Condominium 99 years Mar 30 904 1,062,000 1,175 Uncompleted New Sale THE FLORAVALE EC 99 years Mar 26 1,238 818,000 661 2000 Resale THE JOVELL Condominium 99 years Mar 30 721 921,000 1,277 Uncompleted New Sale District 23 District 18 CHESTERVALE EC 99 years Mar 27 1,475 1,038,000 704 1999 Resale COCO PALMS Condominium 99 years Mar 29 753 905,000 1,201 2018 Resale FUYONG ESTATE Semi-Detached 99 years Apr 02 5,167 1,250,000 242 Unknown Resale D'NEST Condominium 99 years Mar 28 1,765 1,880,000 1,065 2017 Resale GUILIN VIEW Condominium 99 years Mar 26 1,259 1,090,000 865 2000 Resale MELVILLE PARK Condominium 99 years Mar 28 1,044 780,000 747 1996 Resale HAZEL PARK CONDOMINIUM Condominium 999 years Mar 29 1,518 1,773,000 1,168 2000 Resale SEA ESTA Condominium 99 years Mar 27 517 570,000 1,103 2015 Resale HILLBROOKS Condominium Freehold Mar 29 1,066 1,050,000 985 1999 Resale THE TAPESTRY Condominium 99 years Mar 26 603 865,100 1,435 Uncompleted New Sale HILLINGTON GREEN Condominium 999 years Mar 28 1,356 1,550,000 1,143 2002 Resale THE TAPESTRY Condominium 99 years Mar 28 603 889,700 1,476 Uncompleted New Sale HILLSTA Terrace 99 years Mar 28 3,229 2,680,000 830 2016 Resale THE TAPESTRY Condominium 99 years Mar 28 1,130 1,454,760 1,287 Uncompleted New Sale LE QUEST Apartment 99 years Mar 31 1,313 1,812,000 1,380 Uncompleted New Sale THE TAPESTRY Condominium 99 years Mar 29 1,130 1,483,110 1,312 Uncompleted New Sale MERAWOODS Condominium 999 years Apr 01 1,346 1,460,000 1,085 1999 Resale THE TAPESTRY Condominium 99 years Mar 30 1,130 1,449,090 1,282 Uncompleted New Sale MONTROSA Condominium 999 years Mar 27 1,184 1,170,000 988 1999 Resale THE TAPESTRY Condominium 99 years Mar 30 990 1,261,170 1,274 Uncompleted New Sale REGENT GROVE Condominium 99 years Mar 28 1,195 730,000 611 2000 Resale THE TAPESTRY Condominium 99 years Mar 30 603 865,100 1,435 Uncompleted New Sale THE AMSTON Apartment 999 years Mar 29 1,819 1,810,000 995 1998 Resale THE TAPESTRY Condominium 99 years Mar 30 1,485 1,780,380 1,199 Uncompleted New Sale THE JADE Condominium 99 years Mar 28 1,012 1,120,000 1,107 2004 Resale THE TAPESTRY Condominium 99 years Mar 31 1,485 1,786,860 1,203 Uncompleted New Sale YEW MEI GREEN EC 99 years Mar 27 1,130 810,000 717 2000 Resale THE TAPESTRY Condominium 99 years Mar 31 1,130 1,424,790 1,261 Uncompleted New Sale YEW MEI GREEN EC 99 years Apr 01 1,335 925,000 693 2000 Resale TREASURE AT TAMPINES Condominium 99 years Mar 27 1,238 1,545,000 1,248 Uncompleted New Sale District 25 TREASURE AT TAMPINES Condominium 99 years Mar 27 840 1,060,000 1,263 Uncompleted New Sale CASABLANCA Condominium 99 years Apr 01 1,109 860,000 776 2005 Resale TREASURE AT TAMPINES Condominium 99 years Mar 27 1,033 1,342,000 1,299 Uncompleted New Sale CENTURY WOODS Terrace 99 years Apr 01 1,615 1,718,000 1,064 2001 Resale TREASURE AT TAMPINES Condominium 99 years Mar 27 818 996,000 1,218 Uncompleted New Sale NORTHOAKS EC 99 years Mar 29 1,432 800,000 559 2000 Resale TREASURE AT TAMPINES Condominium 99 years Mar 28 818 1,013,000 1,238 Uncompleted New Sale NORTHWAVE EC 99 years Mar 29 883 786,000 891 2019 New Sale TREASURE AT TAMPINES Condominium 99 years Mar 28 818 1,014,000 1,240 Uncompleted New Sale PARC ROSEWOOD Condominium 99 years Apr 01 431 510,000 1,185 2014 Resale TREASURE AT TAMPINES Condominium 99 years Mar 29 484 655,000 1,352 Uncompleted New Sale District 26 TREASURE AT TAMPINES Condominium 99 years Mar 29 581 794,000 1,366 Uncompleted New Sale PRESIDENT GARDENS Terrace Freehold Mar 29 2,347 2,800,000 1,196 1985 Resale TREASURE AT TAMPINES Condominium 99 years Mar 30 581 791,000 1,361 Uncompleted New Sale SEASONS PARK Condominium 99 years Mar 26 1,044 930,000 891 1997 Resale TREASURE AT TAMPINES Condominium 99 years Mar 30 678 909,000 1,340 Uncompleted New Sale THE ESSENCE Apartment 99 years Mar 31 818 1,081,950 1,323 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Mar 31 614 891,000 1,452 Uncompleted New Sale District 27 TREASURE AT TAMPINES Condominium 99 years Mar 31 678 968,000 1,427 Uncompleted New Sale CANBERRA RESIDENCES Condominium 99 years Mar 27 1,528 1,210,000 792 2013 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 1,033 1,299,000 1,257 Uncompleted New Sale EIGHT COURTYARDS Condominium 99 years Mar 26 1,227 1,200,000 978 2014 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 1,033 1,370,000 1,326 Uncompleted New Sale EIGHT COURTYARDS Condominium 99 years Mar 29 1,141 1,115,000 977 2014 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 840 1,015,000 1,209 Uncompleted New Sale KANDIS RESIDENCE Condominium 99 years Mar 29 764 960,600 1,257 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Mar 31 592 790,000 1,334 Uncompleted New Sale LILYDALE EC 99 years Mar 26 1,195 800,000 670 2003 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 678 954,000 1,407 Uncompleted New Sale LILYDALE EC 99 years Apr 01 1,270 828,000 652 2003 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 1,033 1,299,000 1,257 Uncompleted New Sale ORCHID PARK CONDOMINIUM Condominium 99 years Mar 26 1,141 850,000 745 1994 Resale TREASURE AT TAMPINES Condominium 99 years Mar 31 1,238 1,511,000 1,221 Uncompleted New Sale SKIES MILTONIA Condominium 99 years Mar 29 1,076 1,080,000 1,003 2016 Resale WHITEWATER EC 99 years Mar 26 1,206 808,000 670 2005 Resale District 28 WHITEWATER EC 99 years Mar 26 1,259 958,000 761 2005 Resale D' KENARIS Semi-Detached 999 years Apr 01 3,649 2,128,888 583 2009 Resale District 19 NIM COLLECTION Terrace 99 years Mar 26 1,970 2,733,000 1,387 Uncompleted New Sale A TREASURE TROVE Condominium 99 years Mar 26 1,044 1,236,888 1,185 2015 Resale NIM COLLECTION Terrace 99 years Mar 27 2,626 3,176,000 1,209 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 26 753 1,123,000 1,490 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 26 506 717,000 1,417 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 27 850 1,255,000 1,476 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 26 872 1,150,420 1,319 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 28 732 1,090,000 1,489 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 27 506 724,000 1,431 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 31 474 695,000 1,467 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 27 872 1,183,400 1,357 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 31 474 719,000 1,518 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 27 980 1,266,820 1,293 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Mar 31 474 710,000 1,499 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Mar 27 667 910,000 1,364 Uncompleted New Sale CHILTERN PARK Condominium 99 years Mar 28 1,346 1,250,000 929 1995 Resale PARC BOTANNIA Condominium 99 years Mar 27 980 1,294,950 1,322 Uncompleted New Sale CHUAN PARK Condominium 99 years Mar 28 1,173 1,080,000 920 1985 Resale PARC BOTANNIA Condominium 99 years Mar 27 861 1,075,000 1,248 Uncompleted New Sale COMPASS HEIGHTS Apartment 99 years Mar 28 1,238 1,075,000 868 2002 Resale PARC BOTANNIA Condominium 99 years Mar 28 1,281 1,664,520 1,299 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Mar 26 1,690 1,550,000 917 2013 Resale PARC BOTANNIA Condominium 99 years Mar 28 872 1,198,920 1,375 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Mar 26 1,001 1,150,000 1,149 2013 Resale PARC BOTANNIA Condominium 99 years Mar 28 980 1,367,700 1,396 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Mar 26 1,001 1,070,000 1,069 2013 Resale PARC BOTANNIA Condominium 99 years Mar 29 667 927,000 1,389 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Mar 27 1,001 1,100,000 1,099 2013 Resale PARC BOTANNIA Condominium 99 years Mar 30 667 894,340 1,340 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Mar 28 1,679 1,460,000 869 2013 Resale PARC BOTANNIA Condominium 99 years Mar 30 786 987,955 1,257 Uncompleted New Sale FONTAINE PARRY Condominium 999 years Mar 26 1,206 1,420,000 1,178 2010 Resale PARC BOTANNIA Condominium 99 years Mar 30 872 1,105,000 1,267 Uncompleted New Sale GOLDENHILL VILLAS Terrace Freehold Mar 28 1,615 3,200,000 1,982 2004 Resale PARC BOTANNIA Condominium 99 years Mar 30 786 999,000 1,271 Uncompleted New Sale HERON BAY EC 99 years Mar 26 1,023 920,000 900 2015 Resale PARC BOTANNIA Condominium 99 years Mar 31 980 1,241,600 1,268 Uncompleted New Sale KOVAN RESIDENCES Condominium 99 years Apr 01 1,442 1,670,000 1,158 2011 Resale PARC BOTANNIA Condominium 99 years Mar 31 667 911,800 1,366 Uncompleted New Sale KOVAN RESIDENCES Condominium 99 years Apr 02 1,701 1,670,000 982 2011 Resale SELETAR HILLS ESTATE Semi-Detached 999 years Mar 27 3,466 3,200,000 923 1993 Resale PARC VERA Condominium 99 years Mar 27 786 800,000 1,018 2014 Resale SUNRISE GARDENS Condominium 99 years Mar 29 829 665,000 802 1998 Resale RIVER ISLES Condominium 99 years Mar 28 753 832,000 1,104 2015 Resale SUNRISE VILLA Terrace Freehold Mar 26 1,679 2,298,000 1,365 1985 Resale RIVERFRONT RESIDENCES Apartment 99 years Mar 27 463 633,000 1,368 Uncompleted New Sale THE TOPIARY EC 99 years Mar 28 1,292 1,320,000 1,022 2016 Resale TAI KENG VILLAS Terrace 99 years Mar 27 1,851 1,710,000 924 1999 Resale THE FLORENCE RESIDENCES Apartment 99 years Mar 26 667 1,013,000 1,518 Uncompleted New Sale DISCLAIMER: THE FLORENCE RESIDENCES Apartment 99 years Mar 27 700 1,060,000 1,515 Uncompleted New Sale Source: URA Realis. Updated April 9, 2019. The Edge Publishing Pte Ltd shall not be responsible for any loss or liability THE FLORENCE RESIDENCES Apartment 99 years Mar 28 484 716,000 1,478 Uncompleted New Sale arising directly or indirectly from the use of, or reliance on, the information provided therein. THE FLORENCE RESIDENCES Apartment 99 years Mar 29 700 1,024,000 1,464 Uncompleted New Sale EC stands for executive condominium THE FLORENCE RESIDENCES Apartment 99 years Mar 30 484 720,000 1,486 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Mar 31 667 1,077,000 1,614 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 26 614 980,900 1,599 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 27 614 1,003,000 1,635 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 29 614 1,028,600 1,676 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 30 452 697,300 1,542 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 30 452 677,300 1,498 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 30 452 692,800 1,532 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 30 904 1,473,900 1,630 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Mar 30 904 1,469,300 1,625 Uncompleted New Sale EP12 • EDGEPROP | APRIL 15, 2019

GAINS AND LOSSES Pebble Bay resale unit reaps $2.9 mil profit

| BY CHARLENE CHIN | The second top gain made over the week Timah Road in District 21, was the third most three-bedroom units are sized between 1,841 – a 162% profit of $2.04 million ­­– was at profitable transaction over the week, raking and 2,024 sq ft. unit sold on March 27 at Pebble Bay, on Allsworth Park, along Holland Road in Dis- in a 108% profit of $1.66 million for the sell- Meanwhile the greatest loss incurred over Tanjong Rhu Road in District 15, made the trict 10. The 1,959 sq ft, three-bedroom unit er. The 2,164 sq ft, three-bedroom unit on the week was from the resale of a 2,282 sq ft Atop gain of $2.85 million in the week of on the eighth floor was bought for $1.26 mil- the 10th floor was purchased in June 1999 unit at Orchard Scotts, off Scotts Road in Dis- March 26 to April 2. The 2,809 sq ft, four-bed- lion ($643 psf) in April 2001, and sold for $3.3 for $1.54 million ($710 psf), and sold for trict 9. Having sold the property for $3.3 mil- room unit on the 15th floor was purchased for million ($1,684 psf) on March 28. This means $3.2 million ($1,479 psf) on March 27. The lion ($1,446 psf) on March 28, the seller sus- $2.26 million ($804 psf) in March 1995, and that the seller made an annualised profit of seller thus made an annualised profit of 4% tained a 27% loss of $1.25 million. The unit sold for $5.1 million ($1,815 psf). The seller 5% over 18 years. over 20 years. was purchased in December 2010 for $4.55 reaped a 127% profit, or an annualised profit Completed in 1985, Allsworth Park is a Casa Esperanza is a boutique freehold million ($1,994 psf). Over a holding period of 3% over 24 years. 999-year leasehold condo, comprising 156 condo, comprising 90 units in two 10-storey of eight years, this translates into an annual- Pebble Bay is a 510-unit condominium de- units. The nearest MRT station is Dover on blocks. It was developed by NT One Devel- ised loss of 4%. veloped by CapitaLand. It is a 10-minute walk the East-West Line at 3.1km away. It is with- opment, and completed in 1992. King Albert Orchard Scotts, a 99-year leasehold de- to Stadium MRT Station on the Circle Line. in close vicinity to educational institutions Park MRT Station on the Downtown Line is velopment, comprises 387 units across three The upcoming Tanjong Rhu MRT Station on such as Nexus International School and Hen- two minutes away by foot. The units at the towers. It was completed in 2008, and is built the Thomson-East Coast Line, which is slat- ry Park Primary School, which are about 12 development are larger than those at its new- on the site of the former 196-unit HUDC An- ed for completion in 2023, will be right next minutes away by foot. er counterparts: two-bedroom units range thony Garden. The condo is an eight-minute to the condo. A unit sold at Casa Esperanza, on Bukit between 1,152 and 1,378 sq ft, while the walk to Newton MRT Station. E

ALBERT CHUA/EDGEPROP SINGAPORE SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

A 15th-floor, four-bedroom unit at Pebble Bay was sold for $5.1 million on March 27 A 2,282 sq ft unit at Orchard Scotts was sold for $3.3 million, or at a loss of 27% for the seller

Top 15 gains and losses from March 26 to April 2 Most profitable deals PROJECT DISTRICT AREA (SQ SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE PROFIT ($) PROFIT ANNUALISED PROFIT HOLDING PERIOD FT) (2019) ($ PSF) (%) (%) (YEARS) 1 PEBBLE BAY 15 2,809 Mar 27 1,815 Mar 1, 1995 804 2,854,000 127 3 24.1 2 ALLSWORTH PARK 10 1,959 Mar 28 1,684 Apr 7, 2001 643 2,040,000 162 5 18.0 3 CASA ESPERANZA 21 2,164 Mar 27 1,479 Jun 1, 1999 710 1,664,270 108 4 19.8 4 ALLSWORTH PARK 10 1,959 Mar 28 1,506 Mar 5, 1997 743 1,470,000 99 3 22.1 5 PARBURY HILL CONDOMINIUM 16 1,776 Apr 2 1,295 Sep 27, 2002 549 1,325,000 136 5 16.5 6 THE SAIL @ MARINA BAY 1 1,184 Mar 26 2,010 Dec 14, 2004 993 1,204,780 103 5 14.3 7 MAPLE WOODS 21 1,335 Apr 2 1,558 May 1, 1999 667 1,190,000 134 4 19.9 8 FINLAND GARDENS 15 1,851 Apr 1 1,242 Apr 29, 2009 613 1,165,000 103 7 9.9 9 LEEDON 2 10 1,206 Mar 26 1,501 Mar 25, 1999 644 1,020,000 129 4 20.0 10 THE ATRIA AT MEYER 15 1,475 Apr 1 1,594 Apr 9, 2001 915 1,000,000 74 3 18.0 11 DE ROYALE 12 1,281 Mar 26 1,475 Feb 23, 2007 728 955,888 102 6 12.1 12 WORTHINGTON 15 1,894 Mar 28 1,082 Jun 15, 2009 580 951,480 87 7 9.8 13 VARSITY PARK CONDOMINIUM 5 1,367 Apr 2 1,170 Aug 15, 2005 475 951,069 147 7 13.6 14 RIVERGATE 9 1,776 Mar 28 2,140 Feb 28, 2007 1,637 892,400 31 2 12.1 15 HAZEL PARK CONDOMINIUM 23 1,518 Mar 29 1,168 Jun 25, 2009 611 845,000 91 7 9.8 Non-profitable deals PROJECT DISTRICT AREA (SQ SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD FT) (2019) ($ PSF) (YEARS) 1 ORCHARD SCOTTS 9 2,282 Mar 28 1,446 Dec 28, 2010 1,994 1,250,000 27 4 8.3 2 HILLCREST ARCADIA 11 2,745 Apr 2 893 Jul 25, 2011 1,057 450,000 16 2 7.7 3 SKIES MILTONIA 27 1,076 Mar 29 1,003 Nov 26, 2012 1,208 220,000 17 3 6.3 4 8@WOODLEIGH 13 840 Mar 29 1,263 Nov 12, 2012 1,465 170,000 14 2 6.4 5 OCEAN PARK 15 3,897 Mar 28 1,065 Mar 28, 2011 1,104 150,000 3 0.4 8.0 6 VOLARI 10 1,636 Mar 29 2,048 Aug 14, 2009 2,127 129,980 4 0.4 9.6 7 EUHABITAT 14 1,582 Mar 26 1,125 Nov 18, 2014 1,190 103,000 5 1 4.4 8 ORCHID PARK CONDOMINIUM 27 1,141 Mar 26 745 Jan 28, 2013 806 70,000 8 1 6.2 9 DE CENTURION 15 570 Mar 27 1,490 Dec 11, 2007 1,578 50,000 6 0.5 11.3 10 VACANZA @ EAST 14 807 Mar 28 1,100 Jun 30, 2011 1,143 35,000 4 0.5 7.7 11 CASABLANCA 25 1,109 Apr 1 776 Oct 20, 2011 803 30,000 3 0.5 7.5 12 THE PROMENADE@PELIKAT 19 990 Mar 27 980 May 4, 2012 1,010 29,900 3 0.4 6.9 13 HAWAII TOWER 15 2,239 Mar 27 1,264 Aug 13, 2012 1,273 21,112 1 0.1 6.6 14 CANBERRA RESIDENCES 27 1,528 Mar 27 792 May 22, 2012 798 10,000 1 0.1 6.8 15 SPOTTISWOODE RESIDENCES 2 603 Mar 28 1,833 Dec 10, 2010 1,843 6,000 1 0.1 8.3

Source: URA, EdgeProp Note: Computed based on URA caveat data as at April 9 for private non-landed houses transacted between March 26 and April 2. The profit and loss computation excludes transaction costs such as stamp duties. EDGEPROP | APRIL 15, 2019 • EP13

UNDER THE HAMMER

Duplex penthouse at D’Zire going for $1.28 mil

PICTURES: ET&CO | BY BONG XIN YING | The Florence Residences have been transact- ing at average prices of $1,314 psf and $1,439 1,421 sq ft duplex penthouse at D’Zire psf respectively, as seen from caveats. in District 19 will be put up for its For the unit at D’Zire, Tan expects that first auction on April 30, according the price point of $1.28 million will attract to the auctioneer at Edmund Tie & “healthy” interest, especially from potential Company (ET&Co). This is a mort- buyers looking to stay in it. Agagee sale, with an opening price of $1.28 mil- The living and dining area is located on the lion ($900 psf). lower level of the duplex penthouse, which D’Zire is a 999-year leasehold, boutique offers full, floor-to-ceiling windows. ET&Co’s condo by Robeyfort Land, and was complet- Tan says the living and dining area “will en- ed in 2014. Located at Robey Crescent, off joy views of the surrounding greenery”. The Hougang Avenue 2, D’Zire has 47 units in a en suite master bedroom is spacious and will single five-storey block. There are nine pent- “fit a king-sized bed comfortably”, she adds. houses in the condo. Other unit types range On the upper level is an en suite bedroom, from 388 sq ft, one-bedroom units, to 1,604 which is next to an open-roof terrace and a sq ft, two-bedders. private jacuzzi. The two-bedroom penthouse unit on the For families with school-going children, fifth floor up for auction will be sold with va- Rosyth School and Montfort Junior School cant possession. The owner purchased it for are both a seven-minute drive from the de- The upper level of this duplex penthouse looks over the surrounding landed estate $1.36 million ($961 psf) from the developer velopment. E in July 2013, according to caveats lodged in URA, EDGEPROP SINGAPORE URA Realis. Joy Tan, head of auction and sales at ET&- Transactions at D'Zire Co, says that units in 999-year leasehold devel- opments like D’Zire are “not as readily avail- CONTRACT DATE AREA (SQ FT) PRICE ($ MIL) PRICE ($ PSF) able”. Based on caveats, D’Zire has only seen one resale transaction. It was for a 431 sq ft, Nov 30, 2017* 431 565,000 1,312 one-bedroom unit on the second floor, which Jul 04, 2013 1,421 1,364,800 961 changed hands for $565,000 ($1,312 psf) in Apr 19, 2013 1,389 1,410,000 1,015 November 2017. Mar 19, 2013 893 931,960 1,043 In the Hougang area, recently launched units The living and dining area is spacious and offers Jan 21, 2013 484 677,090 1,398 at 99-year leasehold Riverfront Residences and floor-to-ceiling windows * Resale transaction; the other transactions were developer sales EP14 • EDGEPROP | APRIL 15, 2019

PROP HUNT CLASSIFIEDS Properties for Sale  Scan QR code for more details  To be featured, email [email protected] or call 8822-2997

$9,588,888 $8,671,500 $7,000,000 $6,000,000 GB Building - Office for sale International Plaza - Office for sale Henderson Industrial Park Semi Detached House D1 CECIL STREET | 99 years D2 ANSON ROAD | 99 years D3 HENDERSON ROAD | Freehold D19 FLORENCE ROAD | 999 years Size(sqft): 5,210 Size(sqft): 4,230 | PSF: $2,050 Size(sqft): 8,482 | PSF: $825 Built-Up(sqft): 6,000 | Land(sqft): 4,333 PSF: $1,840 PSF: $1,385

Whole floor for Sale. Great Corporate image. Rare large office unit for sale. Great corporate Rare Free Hold B1 Industrial Terrace Factory @ Super Nice CORNER Semi-D for Rebuilt. Comes Tenanted till 2021 @$5.20psf. High floor & column image. Tenanted till 2020 @ $5.65psf. High floor Prime D03. 3 storeys corner unit, BIA 8,482 sq ft with ID for you to complete. Spacious living, Super free. Great for own use/ investment. Centrally and column free. Great for own use/ investment. and 8 car park lots. Strata land size 6,200 sq ft. En Nice valued price, Magnificent real estate. Located located & short walk to Tj Pagar, Telok Ayer MRT & Centrally located & next to Tanjong Pagar MRT. bloc target with URA 2014 plot ratio 2.5. UOB Bank near Future MRT. Built a house that will make you future Shenton Way MRT. Plenty of rental demand. valuation $7 million. proud. Don’t miss this dream home. Motivated Seller.

Alex Chong Alex Chong Jerry Lum Matt Chiang ORANGETEE & TIE PTE LTD ORANGETEE & TIE PTE LTD ERA REALTY NETWORK PTE LTD SAVILLS RESIDENTIAL PTE LTD R046782D R046782D R032056D R032242G  65 9026 8168  65 9026 8168  65 8288 0098  65 9169 7684

$3,150,000 $2,880,000 $4,228,888 $3,800,000 Terrace House Terrace House Parc Seabreeze Belle Vue Residences D19 SERANGOON GARDEN TERRACE | 99 years D26 SPRINGSIDE AVENUE | Freehold D15 JOO CHIAT ROAD | Freehold D9 OXLEY WALK | Freehold Built-Up(sqft): 3,600 | Land(sqft): 1,615 Built-Up(sqft): 3,681 | Land(sqft): 1,713 Size(sqft): 2,562 | PSF: $1,651 Size(sqft): 1,399 | PSF: $2,716 PSF: $1,783 PSF: $1,868 Bedroom: 3 Bedroom: 2 One of the most efficiently designed Terrace House, Best in Estate. Highest rental yield within same District D15 Duplex 3bedroom Penthouse on #19. Unblock Rare 2 bdrm low rise on elevated 257,609sq ft land emphasizing on usable space, prestige, and quality Award Winning Design. Brand New Refurbished. North facing views of Katong. Sell vacant or with created by Award Winning Architect Toyo Ito. Only finishes. Low entry price for a renovated new rebuilt Modern Spacious Living. 4 level of space + lots of 2 years new tenancy. Spacious living. Roof terrace 176 units Premium with balcony Pte lift Lush greenery house. Seller relocated overseas due to work. Key on rooms. Modern & comfortable for family. The place private pool to enjoy. & tranquil unblocked Luxurious Resort living Walk to hand. Call now! to call HOME. Don’t miss! Matt - 9169 7684. Orchard Clarke Quay eateries pub & 3 Mrt .

Jason Tan Matt Chiang Ee Laine Ng Veronica Lim ERA REALTY NETWORK PTE LTD SAVILLS RESIDENTIAL PTE LTD ORANGETEE & TIE PTE LTD ORANGETEE & TIE PTE LTD R048613F R032242G R048665I R019750I  65 9119 1175  65 9169 7684  65 9656 1860  65 9455 0898