Relic Hunter's Good Class Bungalow for Sale at $63
Total Page:16
File Type:pdf, Size:1020Kb
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.