Relic Hunter's Good Class Bungalow for Sale at $63

PROPERTY PERSONALISED MCI (P) 045/08/2019 PPS 1519/09/2012 (022805)

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of February 3, 2020 | ISSUE 918-140

Market Trends Industry Insight Gains and Losses Under the Hammer Singapore ranked sixth Is London property set Three-bedder at Gisborne Triplex penthouse at for data-centre market for a crash? Probably not Light sold at record Helios Residences competitiveness ep3 ep5 $1.2 mil profitep 9 for sale at $9.8 mil ep12

Relic hunter’s Good Class Bungalow for sale at $63 mil Raymond Ng, executive chairman of Enviro-Hub, built his 34,000 sq ft home to accommodate his extensive collection of Chinese art and artefacts and his family of six. He has even incorporated part of his collection into the building itself. Turn to our Cover Story on Pages 6, 7 & 8.

CapitaLand’sThe exterior ofM&A the will Good give Class it access Bungalow to Ascendas-Singbridge’s at Camden Park is cladded Changi with Business stainless Park steel with niches to suspend the marble kingposts SAMUEL ISAAC CHUA/THE EDGE SINGAPORE CHUA/THE ISAAC SAMUEL PICTURES: ASCOTT

EP2 • EDGEPROP | FEBRUARY 3, 2020 PROPERTY BRIEFS Singapore home prices expected to grow 3% ADVERTISING + MARKETING ADVERTISING SALES in 2020: Colliers vice-president, sales & operations | Diana Lim account director | Ivy Hong deputy account director | BY CHARLENE CHIN 2019 have helped developers pare down 2023 (with the recent spate of conver- Grade-A rental growth is forecast to Janice Zhu [email protected] on inventory – 9,850 units were sold in sions of commercial buildings into ho- slow to 1% y-o-y in 2020. Rents are cur- account manager | 2019, which is 12% higher y-o-y. tels), the five-year average would still rently on a 10-year high and tenants will Pang Kai Xin, Ryan Wang rivate residential prices in Sin- In 2020, there are 44 projects esti- be half that of the past decade. resist further rent hikes in view of mac- gapore grew 2.5% in 2019, de- mated to be launched, of which 45% Large-scale events that are predict- roeconomic uncertainty, notes the report. PUBLISHER spite cooling measures imposed are from the prime districts. This would ed to draw in large crowds include The Meanwhile, CBD Grade-A vacancy The Edge Property Pte Ltd 150 Cecil Street #13-00 by the government in late 2018 draw a strong crowd of foreigners, who International Trademark Association’s is predicted to increase to 5% in 2020 Singapore 069543 and amid a subdued economy, are attracted to “super luxurious pro- 142nd Annual Meeting and the 103rd as net demand declines. However, limit- Tel: (65) 6232 8688 Pand are forecast to grow 3% in 2020, jects”, states the report. Lions Clubs International Convention. ed supply in the area from 2020 to 2021 Fax: (65) 6232 8620 according to research by Colliers In- Infrastructure developments such In the office sector, demand is ex- should keep the vacancy below the 10- PRINTER ternational. as plans for the Greater Southern Wa- pected to be led by the tech and flexi- year average of 6.2%. KHL Printing Co Pte Ltd The “record high” of housing supply terfront, Jurong Lake District and new ble workspace sectors, albeit at a slower For the mid- to long term, Colliers 57 Loyang Drive from 2014 to 2017 is expected to taper MRT lines would also drive buyer in- rate than in 2019. In particular, flexible is bullish on the Shenton Way/Tanjong Singapore 508968 Tel: (65) 6543 2222 off from 2018 to 2021, and peak again terest, it adds. workspace operators are expected to fo- Pagar and Beach Road/Bugis micro mar- Fax: (65) 6545 3333 from 2022 to 2023 once the develop- cus more on sustainability and profit- kets, expecting them to post the high- ments that were sold from the collective Hotel and office to offer mid- to ability, partly due to limited vacancy. est rental growth. E PERMISSION AND sales wave of 2017 to 2018 are complet- long-term growth REPRINTS CHARTS: COLLIERS INTERNATIONAL. Material in The Edge Property ed, notes Colliers. Completions, mean- Colliers predicts that the hotel and of- may not be reproduced in any while, are expected to be low in 2024. fice market could offer mid- to long- Hotel: Room supply and occupancy form without the written Vacancy has declined steadily to 6.4% term growth. permission of the publisher from 3Q2017’s rate of 9.3%. Colliers ex- In the hospitality industry, RevPAR pects that it will improve to 6% by end- (revenue per available room) is expect- We welcome your comments 2020, before increasing once again as ed to improve on tight near-term supply and criticism: propertyeditor.sg@ bizedge.com new stock completes from 2021 to 2023. since 2017’s recovery, as well as contin- The firm expects rents to grow 5% ued growth in visitor arrivals. Pseudonyms are allowed but in 2020 amid declining vacancy. Howev- Total new hotel supply over 2020 please state your full name, er, rents could see a decline from 2022 to 2024 is estimated to average around address and contact number for us to verify. to 2023 on rising vacancy. 1,400 rooms per annum, well below Developers have been observed to the last 10-year average of 2,800 rooms be “active but cautious in their bidding” per annum, highlights the report. Al- for sites, says Colliers. Resilient sales in though hotel supply could increase in

Residential: Private housing supply and vacancy Office: Net supply, absorption and vacancy

CBRE CDL of experience, with a focus on Austral- in companies such as Star Entertain- ia. Prior to this, he was at JLL as head ment Group, Herbert Smith Freehills of international capital, Australia, where Solicitors, Ernst & Young, and King & he drove cross-border investment in Aus- Wood Mallesons. tralia’s real estate market. Silicon Valley veterans Mihir Shah “Stuart’s wealth of experience and and Yishai Lerner have been named to proven track record, particularly in the oversee JLL Technologies and will join Pacific region that continues to attract the company’s global executive board. offshore capital, will help grow the next In September 2019, the firm announced The Singapore Sustainability Academy phase of our Asia Pacific Capital Mar- the formation of JLL Technologies, a new (pictured), located at City Square mall, is kets business,” comments Chris Lude- business division that will align and ex- one of CDL’s sustainably designed and built man, CBRE’s global president of capi- pand its technology and digital initia- projects tal markets. tives, and accelerate innovation in com- McCann has more than 15 years of mercial real estate for its investor and CDL group CEO in a press release an- experience, with a focus on Australia JLL appoints Kathleen Stubbs occupier clients. nouncing the accolade. as chief information officer for Kwek adds: “As a significant contrib- Stuart McCann joins CBRE as head Australia and New Zealand City Developments recognised for utor to carbon emissions, the building of international capital for JLL has appointed Kathleen Stubbs as corporate climate action sector must play a bigger role in driving Pacific and Southeast Asia chief information officer (CIO) for Aus- City Developments (CDL) has been rec- emissions reduction.” CBRE has appointed Stuart McCann as tralia and New Zealand. ognised for its corporate climate action. To that end, the firm has raised its car- head of international capital, Pacific and Previously, Stubbs was serving as The firm made it to CDP’s A List, to- bon emissions intensity reduction target Southeast Asia. He will take up the new- global head of infrastructure and service gether with 178 other global companies to 59%, from the previous 38%, across its ly created role from Feb 3. delivery (deputy global CIO) for Knight leading on environmental transparency Singapore operations by 2030, from base- Based in Singapore, McCann will be Frank’s global head office in London. and performance. CDP is an internation- year 2007. For its development projects, responsible for facilitating cross-border “Kathleen’s global and Australian ex- al non-profit that drives companies and CDL has committed to using sustaina- real estate investments into the Pacific perience is impressive and spans block- governments to reduce their greenhouse ble building materials, instead of their region, in addition to providing strategic chain for property, IoT, artificial intelli- gas emissions, safeguard water resourc- conventional equivalents, cutting down advisory services, including capital rais- gence and robotic process automation es and protect forests. embodied carbon by 24% by 2030. Em- ing and capital partnering services, for solutions,” says Stephen Conry, CEO of “Soaring record temperatures and bodied carbon of construction materials corporate and institutional investors in JLL Australia & New Zealand. high-impact weather continue to plague includes the greenhouse gas emissions the Pacific and Southeast Asia regions, Stubbs’ career has included oversee- our living environment, as can be seen arising from the manufacture, assembly says CBRE. ing service and operations management, by the ongoing devastating Australian and replacement of building materials. McCann brings more than 15 years application, and database management bushfires,” comments Sherman Kwek, — Compiled by Charlene Chin E PICTURES: ASCOTT

PICTURES: ASCOTT EDGEPROP | FEBRUARY 3, 2020 • EP3 MARKET TRENDS

Singapore ranked sixth globally for data-centre

Grade-A rental growth is forecast to slow to 1% y-o-y in 2020. Rents are cur- market competitiveness rently on a 10-year high and tenants will resist further rent hikes in view of mac- SHUTTERSTOCK roeconomic uncertainty, notes the report. BY CHARLENE CHIN This is followed by other well-established US Meanwhile, CBD Grade-A vacancy [email protected] markets, for similar reasons, in the second to is predicted to increase to 5% in 2020 fifth positions – Silicon Valley, Dallas, Chica- as net demand declines. However, limit- ingapore has emerged sixth in terms of go, and New York/New Jersey. ed supply in the area from 2020 to 2021 data-centre market competitiveness, in Singapore, Amsterdam and Los Angeles should keep the vacancy below the 10- a global ranking by real estate consul- trail behind the US cities in sixth to eighth year average of 6.2%. tancy Cushman & Wakefield (C&W). positions, each facing challenges on permit- For the mid- to long term, Colliers Singapore scores among the top five in ting and development. All three markets are is bullish on the Shenton Way/Tanjong Sdevelopment pipeline and lowest environmen- in constant demand, yet have limited physical Pagar and Beach Road/Bugis micro mar- tal risk, two of 12 factors used to rank data- room for additional construction. kets, expecting them to post the high- centre market attractiveness. Seattle and London take the ninth and 10th est rental growth. E Markets with a strong development pipe- places, respectively. line indicate an excellent indicator of market C&W notes that although the top three mar- quality, with the industry deploying capital kets received considerably higher scores than on the expectation of growth, says C&W in their respective contenders, the other 12 cit- the ranking report. In this case, Singapore’s ies that trailed behind were separated by lower undersea cables and strong business climate scores. This therefore “represents a new shift have attracted developers to keep building up. toward key secondary areas fast becoming The largest pipelines under active develop- primary markets around the globe”, it states, ment that currently exist (powering over 140 forecasting that the top 15 global markets will megawatts) are in traditional powerhouse mar- remain “extremely competitive”. kets, with good connectivity and a positive rep- Singapore scores among the top five in development pipeline and lowest environmental risk, two of 12 Sydney is expected to be one of the emerg- utation among potential tenants, states C&W. factors used to rank data-centre market attractiveness ing data-centre markets, enjoying “massive These markets include Singapore, northern Vir- growth” in the sector, although this has been ginia, London, Dublin and Silicon Valley. Cur- pore, as a key business hub in Southeast Asia, lin, Madrid, Paris and Vancouver. tempered somewhat by the recent wildfires. A rently, Singapore’s toughest challenge in ex- faces low risk of natural disasters. Out of 38 gateway cities ranked in the re- Gartner study has found that there was a 20% panding its pipeline is its extreme land scarcity. “Even when facing daunting natural dis- port, northern Virginia clinches first place. The jump in public cloud spending in 2019 by Aus- Meanwhile, markets with a low environ- asters that down other business verticals, factors of large market size, robust fibre con- tralian companies, and similar large increases mental risk have a low risk of being affected networks must stay functional, data must nectivity, strong cloud availability, deep devel- are predicted for the next two years. This is by disasters such as earthquakes, tornadoes keep moving, and disaster recovery must be opment pipeline, and low vacancy (implying faster than the global average, according to and hurricanes. This in turn ensures continued available if all else fails,” C&W finds. Other strong demand) pushed the current and long- C&W, and indicates a desire by local firms to operations and clients’ peace of mind. Singa- cities that score high on this include Dub- time largest data-centre market to the top. modernise their computing capabilities. E

CHARTS: CUSHMAN & WAKEFIELD RESEARCH

Markets with the lowest vacancies imply highest demand and healthy overall interest

Lower tax rates on equipment purchases can incentivise data-centre operators and make initial development or expansion more attractive

EMERGING MARKETS TO WATCH

Cities with low cost of power offer attractive opportunities for data-centre operators, allowing for higher profit margins EP4 • EDGEPROP | FEBRUARY 3, 2020 OFFSHORE Ascott shores up presence in Japan, opens first Citadines serviced residence in Osaka

PICTURES: ASCOTT BY CHARLENE CHIN PICTURES: ASCOTT [email protected]

he Ascott, the wholly-owned lodging business unit of property giant Capi- taLand, has strengthened its toehold in Japan by opening its first Citadines serviced residence in Osaka. TLocated near Namba Station, Citadines Nam- ba Osaka is set within the city’s popular en- tertainment and shopping district, and is sur- rounded by commercial buildings. The property offers 313 units with a selec- tion of different apartment types for guests with different lengths of stay. While the studio apartment is designed for short-stay travellers, the studio executive apartment – which has a kitchen – is more suitable for guests on extended stay. Conversely, the one- and two-bedroom apartments have separate living rooms and are ideal for long-stay guests and those who are travelling with their families, says Ascott. Common facilities include restaurants and meeting rooms as well as a gymnasium, a laun- derette, a children’s playroom and a residents’ lounge which comes with a kitchen. To be sure, the property which now houses Citadines Namba Osaka has its roots as a departmental store. It is therefore fitting that As- cott is operating the property through a master lease agreement with Toshin Development Com- Ascott opened its first Citadines serviced residence in Osaka. The Citadines Namba Osaka will be managed through a partnership with Takashimaya pany, a subsidiary of Takashimaya Group, the established departmental store brand in Asia. tifs, ornate carvings, decorative travel trunks co-living brand in Fukuoka, called lyf Tenjin bound travel market, we see great opportuni- and elevators with dial indicators. Fukuoka. Two years later, It plans to open its ties to expand in the country where we have Departmental store of days past Cosmetics, fashion accessories, handbags first property in Yokohama, under the Cita- a strong portfolio of over 5,000 units across As tribute to its glorious past, different parts and shoes are also displayed prominently at dines brand. more than 30 serviced residences, hotels and of the property feature different fashion and the reception area, through a collaboration Tan Lai Seng, Ascott’s regional manager rental housing properties in nine cities,” says shopping themes which is achieved through with Takashimaya Osaka departmental store. for Japan & Korea, adds that his business unit Tan in the press release announcing the open- the display of relevant furniture pieces, sig- Elsewhere, the property takes on a quaint wants to grow organically through management ing of Citadines Namba Osaka. nages and artworks. and playful vibe. For instance, the children’s contracts, leases, investments and strategic al- Including Citadines Namba Osaka, Ascott Citadines Namba Osaka also oozes old-world playroom adopts a carousel theme while the liances with market leaders in gateway cities now operates eight serviced residences in Ja- charm by featuring a modern art deco design. restaurant has an industrial look, thanks to the such as Tokyo, Osaka, Fukuoka and Yokohama. pan. The other seven are: Ascott Marunouchi The property also evokes feelings of nostalgia display of a vintage car in its midst. Tan also expects the upcoming Tokyo Olym- Tokyo, Somerset Azabu East Tokyo, Somerset the original design used in the building years pics and Paralympics, and Osaka-Kansai World Ginza East Tokyo, Somerset Shinagawa Tokyo, ago has been preserved. For example, the mar- Pipeline of properties in Japan Expo to boost demand for Ascott’s lodging Citadines Central Shinjuku Tokyo, Citadines bled column lobby is retained and accentuat- To be sure, Ascott has only recently gained a properties. Karasuma-Gojo Kyoto and Citadines Shinjuku ed by intricate details such as acanthus mo- foothold in Japan. Next year, it will open its “With Japan’s thriving economy and in- Tokyo. E

The children’s playroom at the serviced residence features a carousel as The restaurant at Citadines Namba Osaka gets the industrial look and Citadines Namba Osaka used to be a departmental store well as a ball pit features a vintage car as a focal point

The property will be operated through a master lease agreement with Toshin Development Company, a subsidiary of Takashimaya Group, an established department store brand in Asia A one-bedroom twin unit at Citadines Namba Osaka The two-bedroom apartment comes with a separate living room EDGEPROP | FEBRUARY 3, 2020 • EP5 INDUSTRY INSIGHT

As of 2018, 34% of London’s private-sector dwelling stock was owned by landlords. The average share in England was 10 percentage points lower

BLOOMBERG Is London property set for a crash? Probably not

OXFORD ECONOMICS/ONS OXFORD ECONOMICS/SAVILLS BY OXFORD ECONOMICS The London property market is more London is estimated to account for a he London housing market starts 2020 financialised than elsewhere in the UK quarter of the UK’s housing stock by value in a soft position. Values have dropped modestly for the last year or so, a step- down from the double-digit growth seen as recently as 2016, while affordability Tmetrics suggest that a return to rapid price rises is unlikely. In 3Q2019, the average London house price was almost £480,000 – 18 times the annual median salary of resident employees in the capital city. The ratio for the whole UK was just under 11, while northeast England, with average house prices 6.5 times the median salary, was the most affordable region. Moreover, London house prices are 61% higher than their pre-cri- sis peak – 2½ times the national gain of 24%. But stretched affordability is not in itself a reason to think that property prices are set for a sharp fall. The ratio of London house prices to median salaries has barely changed compared to late 2014, but no serious price correction has occurred. In fact, our forecast shows annual house price inflation picking up to around 5% towards the middle of this decade. London. We forecast the stock of dwellings to London market. But with no timeline set for fer from property owners to buyers rather than What will hold up London values? grown by 0.8% per year from 2020 to 2024, the new levy, overseas investors may seek to an absolute destruction of wealth. Our expectation of continued low interest rates the same rate as the five years to 2018. One buy before the new tax comes in, supporting Second, the financialisation of the capital’s is key. Both our analysis and that of the Bank reason for a subdued building rate is that lo- short-term demand. Either way, global geopolit- housing means that the wealth effect from a of England (BoE) have concluded that chang- cal authorities in some London boroughs are ical strife continues to support the push factors fall in values would be quite concentrated. In es in interest rates play a much bigger role in reluctant to give planning permission to big channelling foreign money into London housing. 2018, the 51.3% of London households own- driving residential property values than scarci- housing developments. This is partly a con- ing their own home outright or with a mort- ty or otherwise in housing supply. sequence of local government spending cuts What if a crash in prices were to gage was lowest in the UK. Granted, this im- In fact, the BoE concludes that almost all – more housing creates demand for ameni- materialise? plies that a loss of wealth from lower prices the real growth in property values nationally ties, such as school places, which councils Perhaps market interest rates jumped as a result would be higher per homeowner. But proper- since 2000 can be attributed to the major fall in are struggling to provide. of a global loosening of fiscal policy or a sup- ty investors are likely to be relatively wealthy. interest rates over that period, rather than ris- At the same time, our expectation of a pick- ply-shock to the economy. The BoE estimates With the propensity to consume from a pound ing rents (which would indicate a lack of sup- up in pay growth should support demand for that if real long-term interest rates returned to of wealth tending to decline as wealth rises, ply of homes). property. We forecast wages in London (for res- 2011 levels, this could knock 31% off real house more concentrated ownership should ease the Given property’s more prominent role as an ident workers in the capital) to grow by 3.3% prices over time. Savills estimates the value of consumption hit from lower prices. investment asset in the capital (so-called “finan- per year in the five years to 2024, an advance London housing stock at close to £1.8 trillion The third cushioning factor is the presence cialisation”), London prices may be more re- on the 1.6% averaged from 2014 to 2018. That ($3.16 trillion). So a big fall in London prices of foreign ownership of property. A survey by sponsive to interest rates than elsewhere. This said, slower employment growth will offset would have implications for household wealth Hamptons found that international buyers ac- is an implication of research by Savills which some of the positives from higher pay. and via wealth effects, potentially for consum- counted for 29% of prime property sales in found that prices in the capital are much less Finally, December’s election win for Boris er spending. What’s more, the outsized share Greater London in 1H2019. And research by sensitive to household incomes than in other Johnson removed the perceived risk of a rad- of London property in UK banks’ mortgage the University of York estimated that 13% of UK regions. As of 2018, 34% of London’s pri- ical left-wing government. Granted, the new books means that a price crash accompanied all new build sales in the capital from 2014 vate-sector dwelling stock was owned by land- administration plans to introduce a 3% stamp by negative equity and forced selling could im- to 2016 were made by overseas residents. So lords. The average share in England was 10 per- duty surcharge by non-UK residents, which will pair banks’ ability to extend credit. some of the economic pain of a fall in pric- centage points lower. present a headwind. The higher rate of duty on However, we think three factors would cush- es would be borne outside the UK, a form We do not anticipate the next few years buy-to-let homes adopted in 2016 is frequently ion the size of the wealth effect. The first is that of stabilisation that marks out London from to deliver a dramatic rise in housebuilding in cited as a cause of the recent weakness in the lower prices would in effect represent a trans- other regions. E EP6 • EDGEPROP | FEBRUARY 3, 2020 COVER STORY

The two stone lions that once graced the main entrance of Tang Dynasty City now adorn Ng’s pool deck and garden

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Relic hunter’s Good Class Bungalow for sale at $63 mil

Raymond Ng, executive chairman of Enviro-Hub, built his 34,000 sq ft home to accommodate his extensive collection of Chinese art and artefacts and his family of six. He has even incorporated part of his collection into the building itself.

STORIES BY CECILIA CHOW how he can repurpose or redesign something [email protected] new from his collection. “I’ve kept all the things from Tang Dynasty City since 2001. aymond Ng, executive chairman of I’ve moved six times and all these things Singapore-listed investment hold- have moved with me.” ing company, Enviro-Hub Holdings, The next time he moves, however, Ng will became interested in collecting Chi- be leaving some of his collection behind. This nese antiques and artefacts in 2001 is because he has incorporated them into the R– the year he purchased all the contents of building of his current home, a Good Class the Tang Dynasty City theme park, which Bungalow (GCB) at Camden Park, just off closed in 1999. Adam Road. It had taken 20 years and an estimated $100 million to build the theme park, mod- ‘OUT OF THE BOX’ elled after Chang’An, the ancient capital Besides Ng, other illustrious residents in the of the Tang Dynasty. Ng carted everything GCB neighbourhood of Camden Park and away, including granite slabs, marble balus- Chee Hoon Avenue include banking legend trades and the two imposing 3m-tall stone and former UOB chairman Wee Cho Yaw as lions at the main entrance, over a period of well as his children, who each have a GCB three months. there; former actress turned top AIA agent “I needed more than 100 trailers to move Mary Chen Ming Li; and the Song family of everything out and I had to do it in the mid- Chinese property developer Nanshan Group dle of the night,” he recounts. “I collected (developer of Thomson Impressions and joint enough building materials to cover 200,000 The meditation pool and pavilion in the garden of the GCB which sits on a freehold site of 26,641 sq ft developer of Stirling Residences). sq ft of space.” The Songs are the latest residents at Cam- temple and castle doors, Chinese art, vintage teresting property, I will buy and build it up den Park, having paid $40 million ($1,373 GETTING HOOKED Pu-Er tea, Chinese teapots, and snuff bottles. again. My wife doesn’t like it. She says she psf) for a GCB sitting on a prime, 29,150 From then on, “I got addicted”, Ng declares. “But I have always loved property,” he has to keep packing and unpacking. There sq ft, freehold site in September 2018. They His obsession extends beyond Chinese antiques adds. “I like to buy a piece of land, design are some things from our very first house that are said to be tearing down and redevelop- and artefacts to building materials, antique my own house from scratch and stay there haven’t even been unpacked yet.” ing the property. cast-iron spiral staircases and street lamps, for a few years. And then, if I see another in- Beyond collecting, Ng likes to think about Ng, however, purchased his GCB at Cam- EDGEPROP | FEBRUARY 3, 2020 • EP7 COVER STORY

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The tea room at the first level of the house

Ng: I like to buy a piece of land, design my own house from scratch and stay for a few years. And then, if I see another interesting property, I will buy and build again.

The double-storey wardobe area in the master suite den Park in 2010 for $17.25 million ($648 psf) chitectural features.” The makings of a and decided to build a new home to fit his The two stone lions that once graced the collection and his family. The property sits main entrance of Tang Dynasty City now adorn on a 26,642 sq ft site. “Given the location of Ng’s pool deck and garden. As the stone li- consummate collector the site, I felt that I had to build something ons weighed 15 tonnes each, they had to be that’s out of the box,” he says. brought in after the piling was done and a He engaged Arc Studio Architecture and special platform was built. The stone lions Urbanism, founded by husband and wife had to be positioned in the property even be- aymond Ng credits his propensity who had joined their father in the karung team, Khoo Peng Beng and Belinda Huang, fore construction of the house began. to collect things to the fact that guni trade, invited Ng to join them. “But I told to design the home. Arc Studio is known for Ng and his family, together with his col- he is in the recycling business. The them I didn’t like driving around in a truck full its design of the premium HDB towers of lection, moved into the Camden Park home in executive chairman of Singapore- of carton boxes and plastic,” he relates. “I told Pinnacle @ Duxton in the city centre; Wing June 2014. “It took twice the amount of time listed Enviro-Hub Holdings, a them if they switched to recycling electronic Tai’s 337-unit The Tembusu condominium at taken to construct my Belmont Road GCB, Rholding company with a diverse portfolio waste, I will join them. That’s how I ventured Tampines Road; and the 91-unit One Balmor- which was just over two years,” he relates. that includes trading, recycling and refining into the electronic waste recycling business al on Balmoral Road by Hong Leong. “This is because of the construction of the of electronic waste and metals as well as in 1988.” The duo at Arc Studio studied Ng’s eclec- basement level and all the architectural fea- property investment and management, Besides property, Ng’s other interest is tic collection. “They really put in a lot of ef- tures and details.” He reckons he spent about started the company in 1988 primarily in automobiles. His privately-held property fort to see what I have and to try to incorpo- $12 million just on construction. electronic waste recycling. development and investment arm, BS Capital, rate them into the design,” says Ng. Hence, The property was designed as two build- Ng’s father was in the karung guni purchased a 455,000 sq ft freehold site it took four years to design and construct his ings – a main house and an annex building (rag-and-bone) trade. The elder Ng used in Kranji, which he turned into the biggest home, which has a built-up area of 33,670 which Ng has turned into a three-storey gal- to drive around in a truck to collect things automobile hub in Singapore called Carros sq ft. This excludes the basement carpark of lery to house his collection. The two build- that people discarded, and then sort them Centre. The eight-storey complex has a total 8,000 sq ft, which has a car lift and is big ings are separated by a landscaped courtyard according to items to be recycled and those of 2.3 million sq ft of space for lease. Ng wants enough to accommodate 12 cars, including garden and linked by bridges on the first and destined for the dump or incinerator. Ng to turn it into a one-stop-shop, featuring supercars such as Rolls-Royce and Bentleys. second levels of the house. The basement lev- used to accompany his father. “Once when car marts, workshops, spare parts and body Including the basement carpark, the floor el is only accessible via the lift from the main I was throwing out carton boxes from inside shops as well as other car-related trades. space will amount to more than 40,000 sq house and has a total area of about 18,000 sq a house, the pile was so high that when His company, BIS Motoring, a subsidiary ft, estimates Ng. ft, including the basement carpark. I slid down from the top, I ended up in the of BS Capital, already owns a fleet of 1,200 On the first level of the main house is a middle of the street,” he says. cars for lease. Last year, he acquired 60% of ARCHITECTURAL DETAILS spacious living area, enclosed dining room When Ng left school, he decided to join Alpine Group, which owns Alpine Car Rentals, The façade of the house has stainless steel with en suite kitchen, a tea room and his the Singapore Armed Forces (SAF) instead Alpine Motors (the dealership for Chevrolet cladding with perforated panels designed to children’s study. of the family business. He spent 8½ years in cars) and Auto Germany, the sole distributor fit the marble kingposts that used to adorn the The second level has four bedrooms – one the SAF, where he discovered he had a talent of Opel cars. marble balustrades in Tang Dynasty City. The bedroom for each of his four children – and as an auto mechanic. He dabbled in used cars Ng’s latest interest is in vintage cars. His walls of the house are reinforced with granite a family room on one side of the house. An- and even became a used-car dealer. At one ambition now is to redevelop his Good Class balustrades, also from the former theme park. other part of the second level contains his point, he had 13 cars. “I used to park them all Bungalow site at Yarwood Avenue, which sits “Each of these pieces weighs about 300kg,” master suite – a vast master bedroom, an over the army camp,” he recalls. on a sprawling site of 69,548 sq ft, into three says Ng. “These were all built in the 1970s, adjoining office, two-level walk-in wardrobe Towards the end of his National Service, Ng luxury GCBs with basement parking that so they are almost 50 years old. You won’t area and a palatial bathroom with a private sold almost all his cars. Ng’s older brothers, would appeal to vintage car collectors. E be able to find another house with such ar- CONTINUES ON PAGE EP8 EP8 • EDGEPROP | FEBRUARY 3, 2020 COVER STORY

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE FROM PAGE EP7 jacuzzi. The bathroom is semi-open to allow natural ventilation while also offering priva- cy. “I designed all my bathrooms this way,” he explains. The third level contains a private suite, which has been turned into a prayer and meditation room, a pantry and a roof terrace. Ng also designed every room in the house with a balcony. The office in his master suite on the second level was designed with display shelves for part of his collection of “a few hundred” Chinese snuff bottles. A door from the office leads to the gallery via a bridge. “I can go and view my collection at night without disturbing anyone,” he says.

SAVING ALL THE RELICS The entrance to each floor of his gallery features an antique door, salvaged from an ancient Chinese building, while the basement level has a heavy castle door. Some of the structures within his home, for instance the door frames, doorposts and outdoor pavilion, were designed by Ng out of reclaimed teakwood. Sitting in his garden are two lamp posts that used to stand along North Bridge Road. They are made of cast iron and used kero- sene in the old days, he points out. He also salvaged three cast-iron spiral staircases from old buildings in Bencoolen Street. Ng feels he has to save all these relics. When a century-old temple on Rangoon Road was about to be torn down, Ng was asked if he wanted to have some of the wooden structures. “I told them to give me all,” he says. It totalled 12,000 pieces. The basement houses Ng’s prized collection of Chinese sculptures and artefacts, including a massive hand-carved bone sculp- Ng’s wine cellar was inspired by a wine display he saw at an airport in Italy The pair of 3m, 15-tonne stone lions facing the swimming pool in the garden ture by a Chinese artist. “There are only four of these pieces in the world,” says Ng. “I you’re addicted: you can’t stop collecting.” They include works by Lang Shining, an He has appointed Jeffrey Sim, associate own two of them.” Among his collection is In the basement is also a customised wine Italian missionary by the name of Giuseppe executive director of OrangeTee & Tie, as the a Ming Dynasty armillary sphere, an ancient cellar that can house up to 2,000 bottles. The Gastiglione, who became a court painter in sole marketing agent. With the house boast- Chinese astronomical instrument. inspiration for the wine storage had come China to the Qing emperors for 50 years and ing finishings such as marble flooring, a car from a trip to Italy, while he was at the air- was famous for painting on silk. Another fa- lift that can easily fit a supercar as well as TEA BY THE TONNE port. “I saw the way the bottles were dis- vourite artist of Ng’s is Xu Beihong, famous a home lift, Sim reckons cconstruction cost Another room in the basement houses his tea played, with LED lights of different colours for his paintings of horses in Chinese ink and alone would amount to $25 million today, collection. His interest in tea dates back to running through the glass display,” says Ng. watercolor as well as portraits. based on the existing floor area of 33,670 sq 2005. That was when he started collecting vin- He had a similar wine display designed Ng also has art pieces by Singaporean art- ft and construction cost at $750 psf. This ex- tage Pu-Er tea bricks, which cost US$250,000 for his basement. ist Liu Kang, the father of Liu Thai-Ker, a cel- cludes the cost of the land, which he pegs at per 250 grams. Ng has enough Pu-er tea bricks The basement carpark space has also ebrated architect and town planner in Sin- $1,450 psf, which translates to $38 million, to cover an entire wall in his basement. But been taken over by his collection of build- gapore. “The majority are famous artists,” based on the land area of the GCB. Sim says that’s not his entire collection either. “In 2006, ing materials, artefacts and antiques. He has says Ng. “But I just buy pieces that I love.” the asking price is “fair” given these factors. there was an exhibition and they brought in another covered garage on the first level to Besides One Hundred Horses, a paint- “This is the type of house that will ap- 12 tonnes of this special vintage Pu-Er tea,” park his cars. ing made famous by Lang Shining, Ng has peal to collectors of all sorts – from art, an- says Ng. “I bought five tonnes because this a 30m-long silk scroll painting of 100 tiger tiques, wine to cars, including vintage cars,” was the last of that vintage.” EVER-GROWING COLLECTION cubs by an anonymous artist, and another says Sim. “It’s ideal for a collector who wants He opened a storage room to reveal shelves The first level of the gallery is where he hous- depicting 100 eagles. lots of space.” lined with boxes of tea still wrapped in their es a mix of antiques, art pieces, sculptures Having lived in the house for 5½ years, Sim has suggested that Ng sells his house original packaging. “This is just half of the such as a second bone carved sculpture, and Ng feels that his collection has outgrown the together with his collection. To that, Ng re- collection,” he says. “I have another storage an assortment of furniture pieces. The sec- space. He now wants to put the Camden Park sponds: “I will be very happy because I can room full of tea. This is the problem when ond level is where his prized art collection is. GCB on the market at a price tag of $63 million. then collect more.” E

Among Ng’s collection is a Ming Dynasty armillary sphere, an ancient Chinese astronomical instrument Part of Ng’s antique collection in the basement of the house EDGEPROP | FEBRUARY 3, 2020 • EP9 GAINS AND LOSSES Three-bedder at Gisborne Light sold at record $1.2 mil profit

ALBERT CHUA/THE EDGE SINGAPORE ALBERT CHUA/THE EDGE SINGAPORE SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The 2,885 sq ft, three-bedroom unit at Gisborne Light was sold for $3.2 A four-bedroom unit at Peakview Estate near Upper Changi Road was The sale of a three-bedroom unit at Reflections at Keppel Bay resulted million on Jan 7 sold for $1.34 million on Jan 9 in a $1.09 million loss for the seller on Jan 10

BY TIMOTHY TAY for sale with an asking price of $37 million, which trans- Road, the property is near Tanah Merah MRT Station on the [email protected] lates to a land rate of $1,671 psf per plot ratio. The 2,885 sq East-West Line. It is also near Anglican High School and is ft unit sold on Jan 7 is the first unit at Gisborne Light to be in a three-storey mixed landed housing estate. he most profitable transaction in the week of Jan 7 sold since the unsuccessful en bloc attempt, and it is also the Meanwhile, the sale of a three-bedroom unit at Reflec- to 14 was for a three-bedroom unit at Gisborne Light. most profitable deal ever recorded at the 17-year-old condo- tions at Keppel Bay was the most unprofitable sale during The 2,885 sq ft unit was sold for $3.2 million ($1,109 minium. The record was last held by the sale of a 936 sq ft the week. The 1,701 sq ft unit is located in one of the low- psf) on Jan 7. The owner purchased it for $2 million unit. Its owner made a $555,000 (85%) profit when it was rise blocks fronting the marina. It was sold for $2.73 mil- ($693 psf) in February 2002. This means the seller sold for $1.21 million ($1,287 psf) in July 2011. The unit was lion ($1,602 psf) on Jan 10, while the owner purchased it for Tearned a $1.2 million (60%) profit, or an annualised profit bought for $650,000 ($694 psf) in July 2006. This translates $3.82 million ($2,244 psf) in May 2007. The seller made a of 3% over 18 years. to an annualised profit of 13% over five years. $1.09 million (29%) loss on the sale of the property, which Gisborne Light is a freehold development off Bukit Timah The second most profitable sale during the week occurred translates to an annualised loss of 3% over close to 13 years. Road, and comprises 17 units of 936 to 2,885 sq ft. The de- at Peakview Estate, a freehold apartment development in Dis- Since the start of 2018, the majority of resale transactions velopment is close to Stevens MRT Station on the Down- trict 16, where a 1,453 sq ft, four-bedroom unit was sold for at Reflections at Keppel Bay, or about 81%, have been un- town Line, as well as Singapore Chinese Girls’ School and $1.34 million ($920 psf) on Jan 9. The property last changed profitable, based on the matching of URA caveats. This in- Anglo-Chinese School (Barker Road). It is close to the highly hands for $505,000 ($348 psf) in 2007. This means the sell- cludes transactions at the six high-rise curved towers of 24 desirable neighbourhoods along Balmoral Road and Stevens er made an $832,000 (165%) profit, or an annualised profit to 41 storeys, and the 11 low-rise villa blocks of six to eight Road, and the White House Road Good Class Bungalow area. of 8% over 13 years. storeys. So far, losses at the development during that period In September 2018, its owners launched the development Located on Jalan Pari Kikis near the start of Upper Changi have ranged from $2,000 to $3.29 million. E

Top gains and losses from Jan 7 to 14

Most profitable deals PROJECT DISTRICT AREA SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD ( SQ FT) (2020) ($ PSF) (YEARS) 1 GISBORNE LIGHT 10 2,885 Jan 7 1,109 Feb 26, 2002 693 1,200,000 60 3 17.9 2 PEAKVIEW ESTATE 16 1,453 Jan 9 920 Jan 29, 2007 348 832,000 165 8 13.0 3 NEWTON 18 11 1,249 Jan 8 1,782 May 22, 2006 1,137 805,000 57 3 13.6 4 THE RICHMOND 12 1,259 Jan 10 1,072 Jun 28, 2004 437 800,000 145 6 15.5 5 HIGH OAK CONDOMINIUM 21 1,399 Jan 13 1,000 Oct 17, 1998 450 770,000 122 4 21.3 6 THE GARDENS AT BISHAN 20 1,658 Jan 10 905 Dec 2, 2006 452 750,000 100 5 13.1 7 GARDENVISTA 21 936 Jan 10 1,388 May 3, 2005 613 726,000 126 6 14.7 8 RAFFLESIA CONDOMINIUM 20 1,302 Jan 13 1,148 Mar 5, 2002 608 703,000 89 4 17.9 9 HILLVIEW GREEN 21 1,281 Jan 7 1,054 Apr 1, 1999 543 655,000 94 3 20.8 10 PARK EAST 15 1,335 Jan 9 1,364 Nov 24, 2010 875 652,000 56 5 9.1 11 PALM HAVEN 19 1,615 Jan 13 743 Feb 21, 2005 346 641,100 115 5 14.9 12 MARTIN NO 38 9 1,335 Jan 13 2,607 Sep 30, 2008 2,132 634,000 22 2 11.3 13 THE CASCADIA 21 1,496 Jan 13 1,771 Jan 10, 2011 1,356 620,500 31 3 9.0 14 THE SEA VIEW 15 1,216 Jan 9 1,772 Mar 9, 2010 1,290 586,360 37 3 9.8 15 SIMS RESIDENCES 14 1,410 Jan 13 837 Aug 1, 2001 431 572,000 94 4 18.5 Non-profitable deals PROJECT DISTRICT AREA SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (SQ FT) (2020) ($ PSF) (YEARS) 1 REFLECTIONS AT KEPPEL BAY 4 1,701 Jan 10 1,602 May 9, 2007 2,244 1,091,756 29 3 12.7 2 OPTIMA @ TANAH MERAH 16 1,302 Jan 8 1,190 Aug 16, 2013 1,412 288,800 16 3 6.4 3 THE SAIL @ MARINA BAY 1 1,733 Jan 8 2,250 Jul 27, 2007 2,400 259,200 6 1 12.5 4 THE LAURELS 9 549 Jan 10 2,459 Apr 12, 2010 2,890 236,610 15 2 9.8 5 MARINA BAY RESIDENCES 1 732 Jan 8 2,118 Aug 27, 2007 2,430 228,760 13 1 12.4 6 DUNMAN REGENCY 15 797 Jan 7 1,343 May 12, 2017 1,620 220,000 17 7 2.7 7 LAVERNE'S LOFT 15 1,270 Jan 9 756 May 3, 2011 920 208,400 18 2 8.7 8 ARDMORE PARK 10 2,885 Jan 8 3,189 Aug 12, 2010 3,241 150,000 2 0.2 9.4 9 THE MAYFAIR 22 893 Jan 13 940 Jan 7, 2013 1,041 90,000 10 1 7.0 10 ST THOMAS SUITES 9 2,013 Jan 8 2,037 Mar 5, 2007 2,062 51,000 1 0.1 12.9 11 STURDEE RESIDENCES 8 657 Jan 9 1,447 Apr 23, 2016 1,507 39,300 4 1 3.7 12 OASIS GARDEN 19 947 Jan 9 1,214 Apr 23, 2013 1,246 30,000 3 0.4 6.7 13 TROPICAL SPRING 18 1,076 Jan 8 909 Jun 8, 2012 918 10,000 1 0.1 7.6 14 RV EDGE 10 743 Jan 10 1,601 Feb 11, 2010 1,611 7,500 1 0.1 9.9 Source: URA, EdgeProp Singapore Note: 1. Computed based on URA caveat data as at Jan 21 for private non-landed houses transacted between Jan 7 and 14 2. The profit and loss computation excludes transaction costs such as stamp duties. EP10 • EDGEPROP | FEBRUARY 3, 2020 DONE DEALS

Residential transactions with contracts dated Jan 7 to 14 Singapore — by postal district LOCALITIES DISTRICTS City & Southwest 1 to 8 SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION Orchard/Tanglin/Holland 9 and 10 PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE Newton/Bukit Timah/Clementi 11 and 21 LEEDON GREEN Condominium Freehold Jan 10 2,411 6,018,300 - 2,496 Uncompleted New Sale Balestier/MacPherson/Geylang 12 to 14 LEEDON GREEN Condominium Freehold Jan 12 710 1,934,800 - 2,723 Uncompleted New Sale East Coast 15 and 16 LEEDON GREEN Condominium Freehold Jan 12 818 2,285,400 - 2,794 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jan 12 2,594 6,277,700 - 2,420 Uncompleted New Sale Changi/Pasir Ris 17 and 18 LEEDON GREEN Condominium Freehold Jan 12 2,400 6,165,200 - 2,568 Uncompleted New Sale Serangoon/Thomson 19 and 20 LEEDON GREEN Condominium Freehold Jan 12 2,433 6,039,600 - 2,483 Uncompleted New Sale West 22 to 24 ONE HOLLAND VILLAGE RESIDENCES Apartment 99 years Jan 11 484 1,332,598 1,325,935 2,737 Uncompleted New Sale North 25 to 28 RV EDGE Apartment Freehold Jan 10 743 1,188,800 - 1,601 2013 Resale SHAMROCK PARK Detached Freehold Jan 8 5,317 7,600,000 - 1,430 2008 Resale SOMMERVILLE PARK Condominium Freehold Jan 8 1,302 2,210,000 - 1,697 1985 Resale SPRING GROVE Condominium 99 years Jan 7 1,787 2,830,000 - 1,584 1996 Resale THE GRANGE Condominium Freehold Jan 8 1,765 4,600,000 - 2,606 2008 Resale THE LEVELZ Condominium Freehold Jan 8 743 1,230,000 - 1,656 2004 Resale VAN HOLLAND Condominium Freehold Jan 7 1,152 3,441,000 - 2,988 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jan 10 1,152 3,433,000 - 2,981 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jan 10 1,152 3,413,000 - 2,963 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jan 11 689 2,022,450 - 2,936 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jan 11 495 1,465,670 - 2,960 Uncompleted New Sale District 11 AMARYLLIS VILLE Condominium 99 years Jan 10 1,259 2,005,000 - 1,592 2004 Resale FYVE DERBYSHIRE Apartment Freehold Jan 11 797 1,817,000 - 2,281 Uncompleted New Sale HILLCREST VILLA Terrace 99 years Jan 7 2,928 2,900,000 - 991 2009 Resale JALAN PANDAN Detached Freehold Jan 7 4,672 11,500,000 - 2,463 Unknown Resale NEU AT NOVENA Apartment Freehold Jan 10 818 2,168,000 - 2,650 Uncompleted New Sale NEU AT NOVENA Apartment Freehold Jan 11 646 1,672,000 - 2,589 Uncompleted New Sale NEU AT NOVENA Apartment Freehold Jan 12 818 2,154,000 - 2,633 Uncompleted New Sale SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION NEWTON 18 Apartment Freehold Jan 8 1,249 2,225,000 - 1,782 2002 Resale PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE District 12 District 1 THE INTERWEAVE Apartment Freehold Jan 10 441 650,000 - 1,473 2014 Resale MARINA BAY RESIDENCES Condominium 99 years Jan 8 732 1,550,000 - 2,118 2010 Resale THE RICHMOND Apartment Freehold Jan 10 1,259 1,350,000 - 1,072 1999 Resale District 13 MARINA ONE RESIDENCES Apartment 99 years Jan 7 743 1,675,724 - 2,256 2017 Resale MARINA ONE RESIDENCES Apartment 99 years Jan 8 1,163 2,427,639 - 2,088 2017 Resale THE TRE VER Condominium 99 years Jan 9 743 1,177,000 - 1,585 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Jan 8 1,163 2,906,000 - 2,500 2017 Resale THE WOODLEIGH RESIDENCES Apartment 99 years Jan 12 689 1,369,000 - 1,987 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Jan 9 1,496 3,166,783 - 2,117 Unknown Resale District 14 MARINA ONE RESIDENCES Apartment 99 years Jan 9 3,778 8,061,414 - 2,134 Unknown Resale ASTON MANSIONS Apartment 99 years Jan 14 1,012 957,000 - 946 1998 Resale MARINA ONE RESIDENCES Apartment 99 years Jan 9 1,582 3,863,287 - 2,442 2017 Resale ASTOR Apartment 99 years Jan 10 1,087 890,000 - 819 2006 Resale THE SAIL @ MARINA BAY Apartment 99 years Jan 8 1,733 3,900,000 - 2,250 2008 Resale CENTRA LOFT Apartment Freehold Jan 13 474 612,888 - 1,294 2013 Resale District 2 LORONG 22 GEYLANG Terrace Freehold Jan 10 1,658 2,700,000 - 1,631 1955 Resale SKY EVERTON Apartment Freehold Jan 7 646 1,722,000 - 2,666 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 7 958 1,560,000 - 1,628 Uncompleted New Sale SKY EVERTON Apartment Freehold Jan 7 646 1,727,000 - 2,674 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 8 840 1,521,000 - 1,812 Uncompleted New Sale SKY EVERTON Apartment Freehold Jan 7 646 1,650,000 - 2,555 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 8 527 997,000 - 1,890 Uncompleted New Sale SKY EVERTON Apartment Freehold Jan 9 915 2,328,000 - 2,544 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 9 743 1,261,000 - 1,698 Uncompleted New Sale SKY EVERTON Apartment Freehold Jan 11 657 1,938,000 - 2,952 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 9 1,152 1,861,000 - 1,616 Uncompleted New Sale SKY EVERTON Apartment Freehold Jan 12 958 2,538,000 - 2,649 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 9 958 1,535,000 - 1,602 Uncompleted New Sale District 3 PARC ESTA Apartment 99 years Jan 10 753 1,212,000 - 1,609 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 11 452 856,000 - 1,893 Uncompleted New Sale ARTRA Apartment 99 years Jan 8 786 1,663,000 - 2,116 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 11 517 952,000 - 1,843 Uncompleted New Sale ARTRA Apartment 99 years Jan 8 1,044 2,095,200 - 2,007 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 11 1,055 1,653,000 - 1,567 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jan 8 657 1,402,000 - 2,135 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 12 743 1,249,000 - 1,682 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jan 9 1,109 2,147,000 - 1,937 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 12 635 1,076,000 - 1,694 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jan 11 527 1,088,000 - 2,063 Uncompleted New Sale PARC ESTA Apartment 99 years Jan 12 635 1,076,000 - 1,694 Uncompleted New Sale RIVIERE Apartment 99 years Jan 9 840 2,280,000 - 2,716 Uncompleted New Sale District 4 PARC ESTA Apartment 99 years Jan 12 958 1,565,000 - 1,634 Uncompleted New Sale SIMS RESIDENCES Apartment 99 years Jan 13 1,410 1,180,000 - 837 2002 Resale CORALS AT KEPPEL BAY Condominium 99 years Jan 8 1,281 2,664,000 - 2,080 2016 Resale SIMS URBAN OASIS Condominium 99 years Jan 10 1,033 1,535,000 - 1,485 2017 Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years Jan 8 1,561 3,200,000 - 2,050 2011 Resale District 15 REFLECTIONS AT KEPPEL BAY Condominium 99 years Jan 10 1,701 2,725,000 - 1,602 2011 Resale COSTA RHU Condominium 99 years Jan 10 990 1,220,000 - 1,232 1997 Resale SANDY ISLAND Detached 99 years Jan 8 8,224 16,800,000 - 2,044 2011 Resale District 5 DUNMAN REGENCY Apartment Freehold Jan 7 797 1,070,000 - 1,343 2016 Resale EASTERN LAGOON Condominium Freehold Jan 13 893 1,240,000 - 1,388 1985 Resale FABER CREST Condominium 99 years Jan 7 1,378 1,180,000 - 856 2001 Resale LAVERNE’S LOFT Apartment Freehold Jan 9 1,270 960,000 - 756 2013 Resale PARC CLEMATIS Apartment 99 years Jan 7 1,292 2,211,000 - 1,712 Uncompleted New Sale MEYER MANSION Apartment Freehold Jan 8 1,765 4,622,500 - 2,619 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jan 11 732 1,209,000 - 1,652 Uncompleted New Sale OLLOI Apartment Freehold Jan 10 1,345 2,332,000 - 1,733 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jan 12 517 842,000 - 1,630 Uncompleted New Sale OPERA ESTATE Terrace Freehold Jan 14 2,196 3,840,000 - 1,748 2018 Resale TWIN VEW Apartment 99 years Jan 8 1,518 2,346,000 - 1,546 Uncompleted New Sale PARK EAST Condominium Freehold Jan 9 1,335 1,820,000 - 1,364 1994 Resale WHISTLER GRAND Apartment 99 years Jan 9 603 968,420 - 1,607 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jan 10 678 1,330,540 - 1,962 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jan 10 1,066 1,526,020 - 1,432 Uncompleted New Sale SERAYA VILLE Apartment Freehold Jan 10 1,259 1,380,000 - 1,096 1991 Resale WHISTLER GRAND Apartment 99 years Jan 11 1,270 1,659,170 - 1,306 Uncompleted New Sale THE ARISTO @ AMBER Apartment Freehold Jan 8 624 1,030,000 - 1,650 2013 Resale District 8 THE SEA VIEW Condominium Freehold Jan 9 1,216 2,155,000 - 1,772 2008 Resale KENTISH COURT Apartment 99 years Jan 10 1,259 1,250,000 - 993 1999 Resale District 16 STURDEE RESIDENCES Condominium 99 years Jan 9 657 950,000 - 1,447 2019 Sub Sale OPTIMA @ TANAH MERAH Condominium 99 years Jan 8 1,302 1,550,000 - 1,190 2012 Resale District 9 PEAKVIEW ESTATE Apartment Freehold Jan 9 1,453 1,337,000 - 920 Unknown Resale HOCK MANSION Apartment Freehold Jan 13 1,615 2,180,000 - 1,350 1975 Resale District 17 MACKENZIE REGENCY Apartment Freehold Jan 14 1,087 1,438,000 - 1,323 2007 Resale HEDGES PARK CONDOMINIUM Condominium 99 years Jan 9 764 775,000 - 1,014 2015 Resale MARTIN NO 38 Apartment Freehold Jan 13 1,335 3,480,000 - 2,607 2011 Resale PARC OLYMPIA Condominium 99 years Jan 13 1,647 1,400,000 - 850 2015 Resale RV ALTITUDE Apartment Freehold Jan 7 614 1,585,000 - 2,583 Uncompleted New Sale THE INFLORA Condominium 99 years Jan 7 463 510,000 - 1,102 2016 Resale RV ALTITUDE Apartment Freehold Jan 10 624 1,867,000 - 2,990 Uncompleted New Sale THE JOVELL Condominium 99 years Jan 7 527 700,200 - 1,328 Uncompleted New Sale RV ALTITUDE Apartment Freehold Jan 10 570 1,695,000 - 2,971 Uncompleted New Sale District 18 RV ALTITUDE Apartment Freehold Jan 10 570 1,614,000 - 2,829 Uncompleted New Sale DOUBLE BAY RESIDENCES Condominium 99 years Jan 10 560 708,000 - 1,265 2012 Resale RV ALTITUDE Apartment Freehold Jan 11 441 1,371,000 - 3,107 Uncompleted New Sale DOUBLE BAY RESIDENCES Condominium 99 years Jan 14 1,367 1,495,000 - 1,094 2012 Resale ST THOMAS SUITES Condominium Freehold Jan 8 2,013 4,100,000 - 2,037 2010 Resale NV RESIDENCES Condominium 99 years Jan 10 1,184 1,050,000 - 887 2013 Resale THE AVENIR Condominium Freehold Jan 11 1,572 5,337,000 - 3,396 Uncompleted New Sale RIPPLE BAY Condominium 99 years Jan 10 538 580,000 - 1,078 2015 Resale THE AVENIR Condominium Freehold Jan 11 1,572 4,809,000 - 3,060 Uncompleted New Sale SIMEI GREEN CONDOMINIUM EC 99 years Jan 8 1,195 960,000 - 803 1999 Resale THE AVENIR Condominium Freehold Jan 11 2,067 7,046,000 - 3,409 Uncompleted New Sale THE RIVERINA Terrace 99 years Jan 7 2,217 1,820,000 - 821 1997 Resale THE AVENIR Condominium Freehold Jan 11 2,067 7,073,000 - 3,422 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 7 1,087 1,389,112 - 1,278 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 2,067 7,154,000 - 3,462 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 8 592 845,112 - 1,428 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 2,067 6,938,000 - 3,357 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 9 581 785,112 - 1,351 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 2,411 7,882,000 - 3,269 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 11 614 897,112 - 1,462 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 2,411 8,256,000 - 3,424 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 12 463 681,112 - 1,472 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 2,411 7,814,000 - 3,241 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 12 592 841,112 - 1,421 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 829 2,497,000 - 3,013 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jan 12 463 685,112 - 1,480 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 829 2,640,000 - 3,185 Uncompleted New Sale TROPICAL SPRING Condominium 99 years Jan 8 1,076 978,000 - 909 2002 Resale THE AVENIR Condominium Freehold Jan 11 829 2,692,000 - 3,248 Uncompleted New Sale TROPICAL SPRING Condominium 99 years Jan 10 1,389 1,245,000 - 897 2002 Resale THE AVENIR Condominium Freehold Jan 11 829 2,523,000 - 3,044 Uncompleted New Sale District 19 THE AVENIR Condominium Freehold Jan 11 527 1,880,000 - 3,564 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 1,141 3,577,000 - 3,135 Uncompleted New Sale A TREASURE TROVE Condominium 99 years Jan 10 1,044 1,250,000 - 1,197 2015 Resale THE AVENIR Condominium Freehold Jan 11 1,141 3,487,000 - 3,056 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Jan 10 1,152 1,677,000 - 1,456 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 1,141 3,451,000 - 3,025 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Jan 10 732 1,150,000 - 1,571 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 1,528 4,839,000 - 3,166 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Jan 11 850 1,275,000 - 1,499 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 11 538 1,593,000 - 2,960 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Jan 11 538 861,000 - 1,600 Uncompleted New Sale THE AVENIR Condominium Freehold Jan 12 829 2,510,000 - 3,028 Uncompleted New Sale AUSTVILLE RESIDENCES EC 99 years Jan 7 786 740,000 - 942 2014 Resale THE LAURELS Condominium Freehold Jan 10 549 1,350,000 - 2,459 2013 Resale CHUAN VILLAS Terrace 99 years Jan 12 2,164 1,850,000 - 855 2000 Resale THE WHARF RESIDENCE Condominium 999 years Jan 9 1,012 2,120,000 - 2,095 2012 Resale FOH PIN GARDEN Terrace Freehold Jan 10 2,131 2,620,000 - 1,230 1979 Resale TWENTYONE ANGULLIA PARK Condominium Freehold Jan 8 3,154 11,588,000 - 3,674 2014 Resale HERON BAY EC 99 years Jan 9 1,389 1,280,000 - 922 2015 Resale District 10 KINGSFORD WATERBAY Apartment 99 years Jan 13 474 650,000 - 1,372 2018 Sub Sale KOVAN REGENCY Condominium 99 years Jan 10 775 1,085,000 - 1,400 2015 Resale ARDMORE PARK Condominium Freehold Jan 8 2,885 9,200,000 - 3,189 2001 Resale FLORENCE ROAD Detached 947 years Jan 7 15,877 12,100,000 - 762 Unknown Resale BOULEVARD 88 Apartment Freehold Jan 10 1,776 6,196,500 - 3,489 Uncompleted New Sale OASIS GARDEN Condominium Freehold Jan 9 947 1,150,000 - 1,214 2009 Resale CHATEAU LE FAME Apartment Freehold Jan 13 1,087 1,690,088 - 1,555 2000 Resale PALM HAVEN Condominium 999 years Jan 13 1,615 1,200,000 - 743 2002 Resale D’LEEDON Condominium 99 years Jan 8 829 1,325,000 - 1,599 2014 Resale PIERMONT GRAND EC 99 years Jan 7 969 1,027,890 - 1,061 Uncompleted New Sale D’LEEDON Condominium 99 years Jan 8 1,076 1,610,000 - 1,496 2014 Resale PIERMONT GRAND EC 99 years Jan 7 1,044 1,065,150 - 1,020 Uncompleted New Sale DORMER PARK Condominium Freehold Jan 9 1,679 2,750,000 - 1,638 1993 Resale PIERMONT GRAND EC 99 years Jan 8 969 1,055,400 - 1,089 Uncompleted New Sale GISBORNE LIGHT Apartment Freehold Jan 7 2,885 3,200,000 - 1,109 2003 Resale PIERMONT GRAND EC 99 years Jan 8 904 1,030,400 - 1,140 Uncompleted New Sale JUNIPER HILL Apartment Freehold Jan 11 2,217 6,080,000 - 2,742 Uncompleted New Sale PIERMONT GRAND EC 99 years Jan 9 1,507 1,666,100 - 1,106 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jan 7 818 2,302,773 - 2,815 Uncompleted New Sale PIERMONT GRAND EC 99 years Jan 9 1,302 1,422,360 - 1,092 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jan 7 818 2,263,600 - 2,767 Uncompleted New Sale PIERMONT GRAND EC 99 years Jan 11 1,701 1,696,950 - 998 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jan 7 818 2,294,682 - 2,805 Uncompleted New Sale PIERMONT GRAND EC 99 years Jan 11 1,367 1,446,660 - 1,058 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jan 9 1,496 4,159,000 - 2,780 Uncompleted New Sale PIERMONT GRAND EC 99 years Jan 11 840 963,090 - 1,147 Uncompleted New Sale EDGEPROP | FEBRUARY 3, 2020 • EP11 DONE DEALS

Residential transactions with contracts dated Jan 7 to 14

SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE PIERMONT GRAND EC 99 years Jan 12 1,356 1,446,660 - 1,067 Uncompleted New Sale THE CASCADIA Condominium Freehold Jan 13 1,496 2,650,000 - 1,771 2010 Resale RIVERFRONT RESIDENCES Apartment 99 years Jan 12 517 708,000 - 1,370 Uncompleted New Sale District 22 RIVERSAILS Condominium 99 years Jan 10 1,152 1,200,000 - 1,042 2016 Resale PARC OASIS Condominium 99 years Jan 13 1,076 1,016,000 - 944 1994 Resale SENGKANG GRAND RESIDENCES Apartment 99 years Jan 10 1,313 2,151,200 - 1,638 Uncompleted New Sale THE MAYFAIR Condominium 99 years Jan 13 893 840,000 - 940 2000 Resale SENGKANG GRAND RESIDENCES Apartment 99 years Jan 12 474 843,200 - 1,780 Uncompleted New Sale District 23 TAI KENG VILLAS Terrace 99 years Jan 9 1,744 1,700,000 - 974 1999 Resale BUKIT 828 Apartment Freehold Jan 8 624 985,000 - 1,578 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jan 11 635 967,000 - 1,523 Uncompleted New Sale ECO SANCTUARY Condominium 99 years Jan 9 775 955,000 - 1,232 2016 Resale THE FLORENCE RESIDENCES Apartment 99 years Jan 11 936 1,342,000 - 1,433 Uncompleted New Sale FORESQUE RESIDENCES Condominium 99 years Jan 9 1,281 1,490,000 - 1,163 2014 Resale THE FLORENCE RESIDENCES Apartment 99 years Jan 12 936 1,341,000 - 1,432 Uncompleted New Sale HAZEL PARK CONDOMINIUM Condominium 999 years Jan 7 1,012 1,138,800 - 1,126 2000 Resale THE GARDEN RESIDENCES Apartment 99 years Jan 10 689 1,055,700 - 1,532 Uncompleted New Sale HILLVIEW RESIDENCE Condominium 999 years Jan 7 1,238 1,260,000 - 1,018 2002 Resale THE GARDEN RESIDENCES Apartment 99 years Jan 11 904 1,387,600 - 1,535 Uncompleted New Sale MI CASA Condominium 99 years Jan 9 1,367 1,280,000 - 936 2012 Resale District 20 MIDWOOD Condominium 99 years Jan 12 484 743,600 - 1,535 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 7 1,421 2,413,200 - 1,698 Uncompleted New Sale THE LINEAR Apartment 999 years Jan 13 1,755 1,650,000 - 940 2006 Resale JADESCAPE Condominium 99 years Jan 7 764 1,349,500 - 1,766 Uncompleted New Sale THE PETALS Condominium Freehold Jan 13 1,259 1,328,000 - 1,054 2002 Resale JADESCAPE Condominium 99 years Jan 8 527 890,000 - 1,687 Uncompleted New Sale WINDERMERE EC 99 years Jan 7 1,442 846,000 - 587 1999 Resale JADESCAPE Condominium 99 years Jan 8 646 1,169,000 - 1,810 Uncompleted New Sale District 25 JADESCAPE Condominium 99 years Jan 8 1,055 1,791,600 - 1,698 Uncompleted New Sale LA CASA EC 99 years Jan 10 1,141 828,000 - 726 2008 Resale JADESCAPE Condominium 99 years Jan 8 904 1,451,000 - 1,605 Uncompleted New Sale PARC ROSEWOOD Condominium 99 years Jan 7 517 525,000 - 1,016 2014 Resale JADESCAPE Condominium 99 years Jan 10 764 1,311,000 - 1,715 Uncompleted New Sale District 26 JADESCAPE Condominium 99 years Jan 11 527 928,000 - 1,759 Uncompleted New Sale SPRINGLEAF GARDEN Semi-Detached Freehold Jan 10 3,498 3,220,000 - 920 1984 Resale JADESCAPE Condominium 99 years Jan 11 1,055 1,806,900 - 1,713 Uncompleted New Sale District 27 JADESCAPE Condominium 99 years Jan 11 1,259 2,033,000 - 1,614 Uncompleted New Sale NORTHWOOD Condominium Freehold Jan 14 1,604 1,398,000 - 872 2009 Resale JADESCAPE Condominium 99 years Jan 11 1,421 2,245,000 - 1,580 Uncompleted New Sale District 28 JADESCAPE Condominium 99 years Jan 11 1,647 2,901,100 - 1,762 Uncompleted New Sale H2O RESIDENCES Condominium 99 years Jan 7 1,130 1,180,000 - 1,044 2015 Resale JADESCAPE Condominium 99 years Jan 11 1,259 2,124,400 - 1,687 Uncompleted New Sale HIGH PARK RESIDENCES Apartment 99 years Jan 8 872 950,000 - 1,090 2019 Sub Sale JADESCAPE Condominium 99 years Jan 11 764 1,310,600 - 1,715 Uncompleted New Sale HIGH PARK RESIDENCES Apartment 99 years Jan 10 667 830,000 - 1,244 2019 Sub Sale JADESCAPE Condominium 99 years Jan 11 527 933,000 - 1,769 Uncompleted New Sale NIM GARDENS Condominium Freehold Jan 9 1,830 1,530,000 - 836 1986 Resale JADESCAPE Condominium 99 years Jan 11 904 1,469,700 - 1,625 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 7 980 1,337,700 - 1,366 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 11 1,012 1,698,000 - 1,678 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 8 786 1,007,000 - 1,282 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 12 1,421 2,328,500 - 1,639 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 8 786 1,069,180 - 1,361 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 12 904 1,506,200 - 1,666 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 8 872 1,236,000 - 1,418 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 12 904 1,518,000 - 1,679 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 8 1,281 1,635,420 - 1,277 Uncompleted New Sale JADESCAPE Condominium 99 years Jan 12 764 1,259,000 - 1,647 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 8 667 932,960 - 1,398 Uncompleted New Sale RAFFLESIA CONDOMINIUM Condominium 99 years Jan 13 1,302 1,495,000 - 1,148 2003 Resale PARC BOTANNIA Condominium 99 years Jan 9 786 1,031,000 - 1,312 Uncompleted New Sale SKY VUE Condominium 99 years Jan 9 797 1,355,000 - 1,701 2016 Resale PARC BOTANNIA Condominium 99 years Jan 9 786 1,064,280 - 1,354 Uncompleted New Sale SKY VUE Condominium 99 years Jan 10 678 1,180,000 - 1,740 2016 Resale PARC BOTANNIA Condominium 99 years Jan 9 872 1,195,600 - 1,371 Uncompleted New Sale THE GARDENS AT BISHAN Condominium 99 years Jan 10 1,658 1,500,000 - 905 2004 Resale PARC BOTANNIA Condominium 99 years Jan 9 861 1,129,000 - 1,311 Uncompleted New Sale THOMSON V TWO Apartment Freehold Jan 8 560 730,000 - 1,304 2012 Resale PARC BOTANNIA Condominium 99 years Jan 9 969 1,372,000 - 1,416 Uncompleted New Sale District 21 PARC BOTANNIA Condominium 99 years Jan 10 1,163 1,361,000 - 1,171 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jan 11 710 1,182,290 - 1,664 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Jan 11 667 967,270 - 1,449 Uncompleted New Sale GARDENVISTA Condominium 99 years Jan 10 936 1,300,000 - 1,388 2006 Resale HIGH OAK CONDOMINIUM Condominium 99 years Jan 13 1,399 1,400,000 - 1,000 1999 Resale HILLVIEW GREEN Condominium 999 years Jan 7 1,281 1,350,000 - 1,054 1998 Resale MAYFAIR MODERN Condominium 99 years Jan 9 1,141 2,145,132 - 1,880 Uncompleted New Sale MAYFAIR MODERN Condominium 99 years Jan 10 1,044 2,235,000 - 2,141 Uncompleted New Sale Source: URA Realis. Updated Jan 21, 2020. MAYFAIR MODERN Condominium 99 years Jan 12 506 1,048,000 - 2,072 Uncompleted New Sale EC stands for executive condominium YUK TONG AVENUE Terrace Freehold Jan 9 1,701 2,280,000 - 1,341 Unknown Resale DISCLAIMER: TOH TUCK TERRACE Terrace Freehold Jan 10 1,970 2,730,000 - 1,390 Unknown Resale The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly SOUTHAVEN II Condominium 999 years Jan 8 1,539 1,773,000 - 1,152 1999 Resale or indirectly from the use of, or reliance on, the information provided therein. TERRENE AT BUKIT TIMAH Condominium 999 years Jan 7 527 800,000 - 1,517 2013 Resale EP12 • EDGEPROP | FEBRUARY 3, 2020 UNDER THE HAMMER Triplex penthouse at Helios Residences for sale at $9.8 mil

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE EDMUND TIE BY CHARLENE CHIN [email protected]

4,629 sq ft, triplex penthouse unit at Helios Residenc- es, along Cairnhill Circle off Orchard Road in District 9, was put on the market on Jan 21 at a guide price of $9.8 million ($2,117 psf), according to Edmund Tie, which is handling the sale. The property, how- Aever, received no bids at that auction. The unit comprises four bedrooms, and spans the 19th to 21st levels of Helios Residences, offering a good view of Scotts Road, says Joy Tan, head of auction and sales at Ed- mund Tie. The property is “unique as most other penthouses in Dis- tricts 9 and 10 are only two levels or duplex units”, she adds. Other features at the penthouse unit include an internal passenger lift which serves all three levels. The living area also boasts high, double-volume ceiling space. Adding to that are two private jacuzzis on the second level The third level offers a roof terrace, where residents will be able to enter- – one in an en suite to the master bedroom and the other at tain their guests the common family area. Meanwhile, the third level offers EDMUND TIE a “lovely roof terrace, where residents will be able to entertain their guests in a conducive environment”, says Tan. Completed in 2011, Helios Residences comprises 140 free- Helios Residences comprise 140 freehold units and was completed hold units. Facilities at the development include a swimming in 2011 and wading pool, playground, BBQ pits, gym and jacuzzi. EDMUND TIE The property is 11 minutes by foot to Newton MRT Sta- tion on the Downtown and North-South Lines. It is also in proximity to educational institutions such as Raffles Girls’ Secondary and Singapore Management University. The Or- chard Road shopping belt is also nearby. According to caveats lodged with the URA, a four-bedroom unit spanning 2,000 to 2,100 sq ft could fetch up to $7,800 in monthly rents. The penthouse unit, should it be put on the rental market, would be expected to fetch a much higher rate. On that front, “our subject unit is unique and incom- parable as it is a three-level penthouse unit” asserts Tan. So far, Tan says interest has come from high-net-worth locals or foreigners from China and Hong Kong. Most of these potential buyers are looking to reside in the proper- The unit comprises four bedrooms and spans the 19th to 21st levels of ty themselves, she adds. E The penthouse unit offers a good view of Scotts Road Helios Residences

PROP HUNT CLASSIFIEDS Properties for Sale  Scan QR code for more details  For sales enquiries, please contact [email protected] or call 6232-8820

$2,850,000 $8,500,000 Terrace House Gramercy Park D19 JALAN PACHELI | 999 years D10 GRANGE ROAD | Freehold Land(sqft): 2,122 | PSF: $1,344 Size(sqft): 2,702 | PSF: $3,146 Bedroom: 4

Spacious sizes for all Living, Kitchen and Bedrooms. Nicely renovated unit. As good as new. 4 bdrm 2702 Nearby Amenities are Chomp-Chomp Food centre, sqft. Fitted with top end finishing. Huge condo land My Village Mall and many other shops. Australian and size of 170,000 sqft. Impressive landscaping & full French International Schools are within its vicinity. facilities. Unit comes with private lift. Tennis and Squash centre.

Jennifer Wee Kelvin Chng ERA REALTY NETWORK PTE LTD PROPNEX REALTY PTE LTD R010613I R008108Z  65 9105 0312  65 8138 1050