2018 PPS 1519/09/2012 (022805) the Week of October 15, 2018 | ISSUE 852-73

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805) The week of October 15, 2018 | ISSUE 852-73

Recognising Singapore’s Outstanding property developers and their projects EP2 • EDGEPROP | OCTOBER 15, 2018

CEO’s Message

Raising the bar

It is my wish that through the awards, we will be able to recognise developers who have created “ projects that play a major role not just in the lives of residents but also in shaping the nation Th e 2nd EdgeProp Singapore Excellence Awards ly challenging, owing to the number of quality weighed in” on matters of design and placemak- 2018 gala dinner was held at the ballroom of projects that were submitted. Th e judges visit- ing. Fullerton Hotel Singapore on Oct 3. About 260 ed 15 shortlisted completed projects over three Lee Liat Yeang, senior partner of the real people turned up to celebrate the developers and days, and spent many hours deliberating over estate practice at law fi rm Dentons Rodyk & projects that stood out. their scores. Even then, many of the scores were Davidson, gave us a fresh perspective. As legal Th e turnout at the gala dinner refl ected the very close. We have to thank KPMG for auditing adviser in many of the major en bloc deals of the number of projects and developers that partici- the results before we announced the winners. past two years, Lee understands the mentality pated in this year’s awards. Besides the standout We are very fortunate to have a group of of both developers and homebuyers better than projects and developers, this year we also recog- dedicated and committed judges to help us this anyone else, having represented both buyers and nise the top project marketing agencies. year: sellers in many of such deals. Th e gala dinner was the culmination of a six- Professor Yu Shi Ming, who was our judge Property seekers are becoming savvier and month-long project. We express our sincere ap- for the second year running. As the head of NUS’ more sophisticated. Why? Information, which preciation to the developers who took the time to Real Estate Department, his knowledge and con- may have been diffi cult to obtain a decade ago, is collate their materials, fi ll in the forms and hand tribution to this exercise were immense. widely available today. in the submissions for their respective projects. Ong Choon Fah, CEO of Edmund Tie and Developers in Singapore have to contend We would also like to thank the developers for Co, whose many years of experience in the real with increasingly discerning homebuyers and ensuring that their project staff and architects estate industry was an immeasurable help as she government property cooling measures amid a Bernard Tong or landscape architects at the various projects constantly looked outside the box. challenging macroeconomic environment. Now, CEO, EdgeProp Singapore were on hand when the panel of judges visited We are very thankful to have Yvonne Tan, more than ever, developers need to engage in the sites. director of DP Green, the landscape design spe- placemaking, create communal spaces and build We would like to thank our guest of honour, cialist on our panel. Her viewpoint was instru- sustainable projects. Augustine Tan, president of the Real Estate De- mental in evaluating landscaping, which has be- It is my wish that through the awards, we will velopers’ Association of Singapore, for offi ciating come a diff erentiating factor for many projects. be able to recognise developers who have created at the event. We are honoured to have on our panel projects that play a major role not just in the lives Th is year’s judging process was extreme- T K Quek, co-founder of RT+Q Architects, who of residents but also in shaping the nation.

Real estate industry must innovate to meet changing demand, says Redas president

To continue staying ahead of the curve, Redas will work closely with its members “ to sharpen our innovative and competitive edge through quality assurance A total of 53 projects were submitted by 21 de- attractive place to live, work and play.” ”Over the years, Singapore has established a velopers for the EdgeProp Singapore Excellence Th ere has been a clear shift in consumer be- reputation for its expertise in planning, archi- Awards 2018 — 50% higher than last year. Many haviour in recent years. With increased urbani- tecture, construction, building management and members of the Real Estate Developers’ Associ- sation, new trends and disruptive technologies, quality developments. Its success overseas not ation of Singapore (Redas) were among the par- Singapore developers have been embracing in- only contributes to Singapore’s overall economic ticipants and winners. novative ideas and solutions to meet the chang- development, but also satisfi es the employment, “Real estate remains a vital part of Singapore’s ing demand on the use of property spaces and to career and income aspirations of young people, business infrastructure,” says Augustine Tan, pres- diff erentiate their products, observes Tan. says Tan. “To further this mandate, Redas has set ident of Redas at the EdgeProp Singapore Excel- “To continue staying ahead of the curve, Re- up an international committee to bring togeth- lence Awards 2018 awards presentation on Oct 3. das will work closely with its members to sharp- er member-companies, both large and small, to “It is an integral part of Singapore’s success as one en our innovative and competitive edge through forge partnerships and alliances as they expand of the most liveable countries in the world and an quality assurance,” he adds. their international footprint.”

Augustine Tan President, Redas

EP8 • EDGEPROP | OCTOBER 15, 2018 Winners Completed Projects

Central Region

For projects in the Core Central Region and Rest of Central Region completed in 2016/17 EP10 • EDGEPROP | OCTOBER 15, 2018 Top Wallich Residence Design Landscape Innovation Excellence Excellence Excellence Development

Tanjong Pagar Centre sweeps six awards

| BY CECILIA CHOW | Tanjong Pagar Centre won an award for “vertical city” concept that combined premium of Tanjong Pagar Centre are connected to a Integrated Development Excellence while the office space with a hotel, retail component, six-level retail podium with three basement t the EdgeProp Singapore Excel- 223-room Sofitel Singapore City Centre gar- urban park and luxury residences to create levels and three levels above ground. Base- lence Awards this year, the project nered the Hotel Development Excellence award. a 1.7 million sq ft landmark. The design ar- ment 3 is a car park, while Basement 2 is the that tipped the scales and won the Meanwhile, the project’s residential compo- chitect for Tanjong Pagar Centre was interna- main hub of connectivity underground. A 52m Amost awards was Tanjong Pagar nent, Wallich Residence, scooped four awards tional architectural firm Skidmore, Owings & extension was added to seamlessly link the Centre. The $3.2 billion integrated for Design Excellence, Landscape Excellence, Merrill (SOM), which also designed the Burj Tanjong Pagar MRT station to Tanjong Pagar project was developed by Singapore-listed Innovation Excellence and Top Development Khalifa in Dubai, considered the world’s tall- Centre. Residents of Wallich Residence have GuocoLand, controlled by one of Malaysia’s for a completed project in the Central Region. est building. direct access to Basement 2. There are also richest tycoons, Quek Leng Chan. The panel of judges was impressed by the Tanjong Pagar Centre is SOM’s most am- lifts and escalators leading from Basement 2 bitious project in Singapore so far. “I was to the first-level entrance of Sofitel hotel and PICTURES: GUOCOLAND SINGAPORE impressed by SOM’s design — the way they the Guoco Tower office lobby. incorporated the urban park for community Also at Basement 2 are F&B outlets and Tanjong Pagar Centre comprises events and yet retained the exclusivity of the shops. As there is heavy commuter traffic a 64-storey skyscraper containing residences,” says Quek Tse Kwang, co-found- here, many of the F&B outlets have takeaway Wallich Residence and Guoco er and director of Singapore-based RT+Q ar- counters for customers to place and collect Tower, and the 20-storey Sofitel chitectural studio, who was one of the judges. their orders, says Wong. There is a wide selec- City Centre Designed with sustainability in mind, Tan- tion of restaurants, cafés and shops at Base- jong Pagar Centre won the Building and Con- ment 1 to Level 3. They include restaurants struction Authority’s Green Mark (Platinum) such as Imperial Treasure Fine Teochew Cui- and prestigious Leadership in Energy and Envi- sine; Chalong, which features charcoal grilled ronmental Design (LEED) CS Platinum awards. meats; and Kuro Maguro Japanese restaurant. In addition, Wallich Residence was awarded Although the retail space occupies a floor the BCA Green Mark GoldPlus certification. area of just 140,000 sq ft, it is a very important component, says Wong. “It acts as Tallest tower in Singapore a back-of-house access for the service staff Completed last year, Tanjong Pagar Centre, at from the hotel to the office block or the res- 290m, is Singapore’s tallest building. The of- idential tower, as it’s seamlessly connected fice component, Guoco Tower, occupies the to all of them.” first 38 floors and the 181-unit Wallich Res- For instance, residents of Wallich Resi- idence, a luxury residential component, the dence can engage Sofitel Singapore City Cen- 39th to 64th floors. tre housekeeping staff to handle their house- Guoco Tower has 890,000 sq ft of Grade-A keeping and laundry needs. Room service and office space and is close to 100% leased. Ten- butler service are available not just to hotel ants include tech, media and financial insti- guests but also residents of Wallich Residence tutions such as Amadeus, Dentsu Aegis Net- upon request. work and DNB Asia. Serviced office operator Hotel guests at Sofitel Singapore City Centre Regus is also a tenant and offers both serviced will have access to Virgin Active’s 30,000 sq and co-working office space in its premises. ft gym and its 24-hour club on the sixth level About 10,000 people pass through Guo- of the retail podium, which offers high-alti- co Tower daily: 8,000 work there and 2,000 tude training, salt therapy and a 30m outdoor are visitors. The lobby has a state-of-the- swimming pool. “Being part of an integrated art security and smart lift system operated vertical city means services can be shared,” by Hitachi Elevator. Each lift has a capaci- says GuocoLand’s Wong. ty of 25 passengers and goes directly to the high floors without requiring passengers to Urban park, event space transfer to another lift, as commonly seen in The retail podium fronts a 150,000 sq ft ur- many of the older high-rise office towers in ban park that has a 30,000 sq ft event space the CBD. “It’s important that the office lift called the “City Room”, featuring a glass can- lobby not only looks impressive but has the opy intefrated with a light and sound system infrastructure in place to handle the traffic,” as well as ceiling fans — ideal for events and says Valerie Wong, general manager — com- concerts. mercial at GuocoLand (Singapore). The urban park replaces the public park The driveway of the office tower is promi- that used to be on the site. The urban park nently located on Wallich Street. Wallich Res- was designed as a community space for the idence and Sofitel Singapore City Centre have 300,000 people working in the Tanjong Pagar their own dedicated entrance driveway and neighbourhood. “We have made a commit- drop-off point from Peck Seah Street, which ment to hold events at the urban park three is a quieter street fronting the conservation times a week,” says Wong. “They range from shophouses. fitness and health to lifestyle, and crafts and fashion.” Partners include the Health Promo- Seamless integration, shared services tion Board, Singapore Cancer Society, Sin- The office, residential and hotel components gapore Airlines and Tanjong Pagar Centre’s

The 150,000 sq ft urban park and the 30,000 sq ft glass-canopied ‘City Room’ are the hub of activity at About 10,000 people pass through the lobby of Guoco Tower every day Tanjong Pagar Centre EDGEPROP | OCTOBER 15, 2018 • EP11 Integrated Sofitel Singapore Hotel Tanjong Pagar Centre Development Development Excellence City Centre Excellence

Racines offers cuisine that reflects both the French pedigree of Sofitel and the heritage of Singapore The lobby lounge of Wallich Residence is designed to look like that of a plush hotel tenants such as Virgin Active and East Japan Railway Co (JR East). For instance, Virgin Active conducts free classes at the urban park, while the Health Promotion Board holds free exercise sessions at the rooftop. JR East held a Tokyo Summer event over four days in June outside its Japan Rail Café fronting the urban park. Activities included sampling of Japanese street food, beer and sports. “Tanjong Pagar Centre has done a great job curating the space with activities on weekdays and weekends,” says Ong Choon Fah, CEO of Edmund Tie & Co and one of the judges. SOM designed Tanjong Pagar Centre to be environmentally responsive: The urban park fronts the Tanjong Pagar conservation area with its low-rise shophouses, which is One of the facilities on the 52nd floor of Wallich Residence is a private dining room on a more human scale, says Wong. On the other hand, the 64-storey skyscraper at Tan- jong Pagar Centre is set against the back- drop of other high-rise towers in the vicin- ity, she adds.

Luxury business hotel The Sofitel Singapore City Centre at Tanjong Pagar Centre is the third Sofitel in the city state. Positioned as a luxury business hotel, it is considered the flagship Sofitel in Singa- pore, as it has a comprehensive suite of facilities, including 20,000 sq ft of meeting space, a 600 sq m ballroom and 223 rooms. The heart of the hotel is located on the The living room, bedroom and bathroom fifth floor. Its signature restaurant, Racines of one of the Prestige Suites at Sofitel (French for “roots”) has a cuisine that re- Singapore City Centre flects both the French pedigree of Sofitel as The almost 50m infinity pool at Wallich Residence with views of the sea well as the heritage of Singapore. The bar at Sofitel, 1864, is named after the year the Tan- jong Pagar Dock Co was founded. Besides the restaurant, there are also the Club Millésime lounge and the Coffea coffee bar, which features a range of Nespresso coffees. The hotel rooms are luxurious, with typical ones starting from 38 sq m (409 sq ft) and rates from $430 a night. All rooms come with Bose sound system, smart TV, Nespres- so coffee machine with a selection of coffee, and TWG tea. A writing desk in the corner is equipped with writing paraphernalia, including a colouring book for relaxation. The biggest suite is the Joaquim Suite. At The show suite of a typical three-bedroom apartment at Wallich Residence that boasts panoramic views 152 sq m (1,636 sq ft), it comes with its own living room and lounge area, a dining room that can seat 10 and a palatial bathroom with this level are two function rooms, equipped general manager — residential at GuocoLand So far, at least three units at Wallich Res- a free-standing bathtub. with kitchen facilities for those who want to (Singapore). They feature top-end finishing idence have crossed the $4,000 psf thresh- hold private dining events. The rooms can be and fittings such as marble flooring from the old, setting a new benchmark for prices in Wallich Residence opened up to create a space for 100 guests Middle East; full Gaggenau kitchen applianc- the Tanjong Pagar-Marina Bay area. The lobby of Wallich Residence was designed for a cocktail party. es, including dishwasher and double-door in- “The units at Wallich Residence are well to make residents feel as though they are ar- On the 52nd level are facilities such as meet- tegrated refrigerator and freezer; and full-mar- themed and targeted at businessmen and riving home to a plush hotel. They are wel- ing rooms, a boardroom with en suite pantry ble bathrooms with a smart TV in the master high-net-worth individuals,” says ET&Co’s comed by uniformed staff and provided with area as well as a formal function room. Oth- bathroom. For the four-bedroom units and Ong. “The fact that it’s a mixed-use scheme 24-hour concierge service. They can entertain er facilities include a theatrette, sky terraces penthouses, the master bathroom comes with means that the hotel can provide services guests in the lobby lounge if they do not wish and an observatory deck on the 62nd level. a steam bath. for the residents such as concierge service.” to bring them up to their apartment. Units at Wallich Residence are a mix of Units at Wallich Residence are priced from RT+Q’s Quek agrees. “Wallich Residence From the lobby on the first level, residents one- to four-bedroom apartments that start $3,000 psf. A four-bedroom penthouse on the is an outstanding luxury residential project will be whisked up one of the high-speed el- from 614 to 2,034 sq ft. There are also four 58th floor was sold in June for $16 million, in the business district. The project deserves evators to the 39th floor, which houses facil- penthouses of 3,509 sq ft each and a super or a record-smashing $4,560 psf. The unit the awards it received. As a whole, Tanjong ities exclusive to them such as an outdoor penthouse of 21,108 sq ft. was able to achieve that price because of the Pagar Centre has really gentrified the Tan- infinity swimming pool that offers unob- All the units have a north-south orienta- views it offered: Every room had a 180° sea jong Pagar area and turned it into a desira- structed 270° views of the sea and city. On tion and unobstructed views, says Dora Chng, view, according to GuocoLand. ble CBD address.” E EP12 • EDGEPROP | OCTOBER 15, 2018 EDGEPROP | OCTOBER 15, 2018 • EP13 EP14 • EDGEPROP | OCTOBER 15, 2018 Marina One Residences Top Development

Marina One Residences: Premium city living

PICTURES: M+S | BY TIMOTHY TAY | system. The development’s sustainability features won it the Building arina One Residences and Construction Authority’s Green is part of the $7 billion Mark Platinum certification, the high- Marina One integrated est attainable. Mdevelopment, the new- Marina One’s residential compo- est and largest such pro- nent, Marina One Residences, com- ject in the Marina Bay financial dis- prises twin Park and Garden towers trict. Marina One was developed of 33 storeys. M+S launched the by M+S, a joint-venture company 521-unit Park Tower in 2014 when 60%-owned by Malaysian sovereign the market was in a trough, follow- wealth fund Khazanah Nasional and ing tough property cooling meas- 40%-owned by its Singapore coun- ures the previous year. But buyers terpart Temasek Holdings. The devel- were impressed by the residential opment was completed in November development’s concept, luxuriously last year and comprises 1,042 luxu- sized units and palatable selling pric- ry residential units, 1.88 million sq es. The project recorded an average ft of Grade-A offices and 140,000 sq selling price of $2,242 psf and sold ft of lifestyle retail space. more than 53 units during its first Marina One Residences clinched month of sales. the Top Development Excellence Marina One Residences has a wide Award for a completed development mix of unit types, with sizes consid- in the Central Region at the EdgeProp ered large by today’s standards. At Singapore Excellence Awards 2018 Garden Tower, which was launched on Oct 3. The residential and com- in July, one-bedroom units start from mercial components of the develop- 657 sq ft, two-bedroom units from 980 ment were praised by the judges for sq ft, three-bedroom-plus-study units being well integrated through their from 1,561 sq ft, and four-bedroom sensible architecture and design by units are 2,034 to 2,250 sq ft. There Christoph Ingenhoven, founder of are also four penthouses at each of the Ingenhoven Architects, a leader in two towers that start from 6,469 sq ft. sustainable architecture. On top of the spacious living areas, The development’s façade is in- units come with Villeroy and Boch spired by a city’s street grid, while bathroom accessories, Miele kitchen the iconic louvres visually unify the appliances and signature Poggenpohl development and are integral to In- fittings. All units have uninterrupt- genhoven’s supergreen architecture, ed sea views — those at Park Tower Marina One Residences won the Top Development Excellence Award for a completed development in the Central Region which aims to create a comfortable face Sentosa, while those at Garden climate within the project. Tower face Marina Bay. Facilities in- psf) in June this year. The four-bed- remaining units is expected”, says open to the public and also serves At the core of Marina One are mul- clude a 50m lap pool, aquatic gym room penthouse is on the 33rd floor. Kemmy Tan, CEO of M+S. But she is the community within Marina One. tiple stepped gardens inspired by rice pool, children’s pool, gym and bar- More than 34 units at Garden Tow- encouraged that purchasers of units More than 90% of the office space terraces. The lush greenery and cas- becue terrace. er have been sold so far, according at Garden Tower have bought into the has been committed and 80% of the cading waterfalls in the development So far, more than 89%, or 462, of to URA caveats. The most expensive development, believing in its long- retail space leased. form a natural cooling system. This the units at Park Tower have been sold. unit in terms of absolute price was term capital appreciation potential. Prominent tenants in Marina One’s Green Heart comprises over 160,000 One of the most expensive units to a 2,250 sq ft, four-bedroom unit on The new office space at Mari- two office towers include Swiss pri- plants across an area of 65,000 sq ft be sold was a 2,250 sq ft, four-bed- the fifth floor that was sold for $5.4 na One will double the total com- vate banker Julius Baer, social me- and is the largest green sanctuary room unit on the 32nd floor, which million ($2,407 psf) on Sept 7. mercial office space at the Marina dia giant Facebook, consultancy PwC in the CBD. The buildings in Mari- fetched $7.1 million ($3,157 psf) in With the implementation of the Bay financial district. The centre of Singapore, ride-sharing provider Grab na One harvest rainwater to irrigate May last year. A 6,469 sq ft pent- latest property cooling measures in the development features a 140,000 and financial companies such as Dai- foliage through an automatic drip house fetched $18 million ($2,782 July, “a more paced-out sale of the sq ft retail and F&B podium that is wa Capital, BP Global and Mitsub- ishi Financial Group. Home-grown SAMUEL ISAAC CHUA/THE EDGE SINGAPORE co-working operator JustCo has also taken up 40,000 sq ft in both towers. Anchor tenants at its retail and F&B podium include fitness club Vir- gin Active, which occupies 26,000 sq ft over two levels and boasts the only indoor swimming pool and the largest indoor climbing wall in Mari- na Bay. There is also a Cold Storage supermarket, a Cookhouse by Kou- fu food court, UK pizza chain Piz- za Express and Majestic Restaurant, which serves Chinese cuisine. Marina One will be linked to three MRT stations: the future Shenton Way A four-bedroom unit in Park Tower, which is more than 89% sold A three-bedroom unit in the Garden Tower, which was launched in July station on the Thomson-East Coast Line, the existing Downtown station on the Downtown Line and the Marina Bay interchange station for the North-South, Circle and Thom- son-East Coast Lines. The transport convenience benefits the large residential and commercial community within the development. Its strategic location in the Mari- na Bay financial district means the development is well suited to cater for growth in the area. The project also faces little competition, as the surrounding area has no new, launch-ready projects in the imme- The 50m lap pool on the third floor of Marina One Night-time view of Marina One’s Green Heart and the retail podium diate future. E EDGEPROP | OCTOBER 15, 2018 • EP15 EP16 • EDGEPROP | OCTOBER 15, 2018 New Futura Top Development

New Futura sets benchmark for luxury condos in prime District 9

PICTURES: CITY DEVELOPMENTS | BY CECILIA CHOW |

he prime Grange Road-Leonie Hill Road neighbourhood has been redefined by new high-rises that have sprouted up in recent Tyears. The latest is New Futura, developed by City Developments Ltd (CDL) and designed by Skidmore, Owings and Merrill LLP (SOM). The ultra-luxurious condominium development has twin 36-storey towers that do not just stand out from the crowd, but have also made New Futura the latest landmark in the prestigious area. The project won the EdgeProp Singapore Excellence Awards 2018 for a completed project in the Central region. “New Futura is a well-finished luxury development in an exclusive location,” says Lee Liat Yeang, senior partner at the Real Estate practice of Den- tons Rodyk & Davidson. Lee was on the panel of judges of this year’s EdgeProp awards. “Yet, it’s within walking distance of Orchard Road and the Orchard MRT station.” With 124 units in two high-rise towers, the project occupies a footprint of just 25%. This frees up the remaining 75% of the 87,000 sq ft, freehold site for the more than 50 facilities, including the multi-tiered landscape, waterfall, green atrium, a 45m infinity lap pool, aqua beds and a Jacuzzi. At Club Futura, a two-level clubhouse, residents and their guests will be able to enjoy private dining. The landscaped grounds feature iconic mas- terpieces by renowned sculptor David Harber. There are six sky terraces between the twin towers. Each terrace is themed, and designed with sky pools and leisure corners, and offers compli- mentary WiFi. The project has a wide range of units, from two-bedroom apartments of 1,098 sq ft to four-bedroom apartments of 2,691 sq ft with double-volume ceilings. They have generously sized living The 124-unit, twin tower development New Futura was completed in August last year and dining rooms as well as spacious balconies. Selected units come with a double-volume ceiling. Units have marble flooring in the living and dining areas, while bathrooms are well-appointed with accessories from top-end brands such as Hans grohe, LAUFEN and Geberit. Kitchens are fully fitted with premium Miele appliances as well as designer Pog- genpohl counters and cabinets. New Futura was completed in August 2017 and launched in January 2018. In the first phase, units were launched at prices averaging $3,260 psf, based on caveats lodged. The second phase was launched in May at an average price of $3,575 psf. More than 80% of the units have been sold. The development has only two penthouses — each crowning a tower. At 7,836 sq ft, each penthouse is designed as “a bungalow in the sky”. The double-storey penthouses offer 360-degree panoramic views and come with a private swimming pool. One of the units was sold for $36.28 million ($4,630 psf) in May. The sculptural towers were designed by acclaimed architectural firm Skidmore, Owings & Merrill Despite the latest property cooling measures introduced in July, New Futura has continued to sell well, says Ong Choon Fah, CEO of Edmund Tie & Co (ET&Co), who was also on the panel of judges of the EdgeProp awards this year. Incidentally, ET&Co is one of the appointed marketing agents There are six sky terraces between the two towers, and at New Futura. some come with landscaped gardens while others feature “Once you attract a community of very high- a lap pool net-worth people living in a development, others will similarly be attracted to the project, and will freshen up after a workout, and towels for those want to buy a unit there too,” notes Ong. who are heading to the swimming pool. These buyers are attracted to the prime Dis- Other concierge services include helping resi- trict 9 address, freehold tenure and proximity to dents with their luggage, shopping bags or laundry the malls on Orchard Road, adds Ong. “The facil- service as well as delivery of parcels or groceries ities, landscaping and exclusivity of the project for those who are not home. “The concierge ser- are a draw too, especially the concierge service.” vice on top of spacious apartments, quality finish- The staff at the concierge service make it a point ing and a freehold tenure caps New Futura as one to know the residents by name. They provide cold of the most sought-after residential condominiums towels, face mist and cold water for residents to in recent years,” says Dentons Rodyk’s Lee. E The 45m lap pool is one of the central features of the project EDGEPROP | OCTOBER 15, 2018 • EP17 EP18 • EDGEPROP | OCTOBER 15, 2018 Sustainability The Venue Residences and Shoppes Excellence

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE PICTURES: CDL

Six duplex units front the cabanas and swimming pool at The Venue SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The Venue Residences, along Tai Thong Crescent, comprises 266 residential units and 28 commercial shop lots The Venue Residences lauded for sustainability efforts The swimming pool features an origami-inspired boat sculpture

| BY CHARLENE CHIN | tenance. The building walls, which ings range from one-bedders start- are precast, are coated with a con- ing at 495 sq ft to four-bedroom ituated on Tai Thong Crescent, crete stain that can last for at least units at 1,238 sq ft. There are also The Venue Residences and a decade, says Lee. The added layer eight penthouse units from 1,948 Shoppes is bounded by Upper causes dust and rainwater particles to 2,142 sq ft. SSerangoon Road, MacPher- to roll off the surface, instead of pen- Aedas designed two orientations son Road and the Pan-Island etrating the concrete, he explains. For for the residential units. Some look Expressway (PIE). The mixed-use this feature, the development won inwards, facing condo facilities such development — comprising 266 resi- the Sustainability Excellence award as the pool, while others offer views dential units and 28 commercial shop at the EdgeProp Singapore Excellence of the city. The units facing the main lots — draws footfall throughout the Awards 2018. roads have balconies that were in- day, and is aptly described as “a place “What gave [The Venue] an edge stalled with acoustic ceilings, which where people gather”. That was the was the materials chosen for the deflect noise from the roads. idea behind the name, says Jenson construction — the ease of main- The Venue also has other fea- Lee, senior architect at Aedas, who tenance was carefully considered,” tures that minimise noise from the was part of the team working on The says Yvonne Tan, accredited land- roads. For instance, a public plaza Venue Residences. scape architect at architecture and was carved out on the first level to Despite The Venue’s location at landscape firm DP Green. act as a buffer zone from the traffic a busy junction, developer City De- The development, which also has junction. In addition, double-layered Playground facilities for children at The Venue velopments Ltd focused on the fac- a Platinum BCA Greenmark Award laminated glass was used for the ex- tors it could work with. Special care to its name, received its temporary terior. “We wanted to keep the noise designed so they could not be opened signed to emulate “the look and feel was taken to ensure that the facade of occupation permit in 2017, and is minimised at the facade level”, says too wide, deflecting noise from the of the old fire escape that was once the development requires little main- fully sold. Residential unit offer- Lee. Windows for the bedrooms were bedroom, he explains. at the back of all these shophous- “The Venue has done well, in es”, he adds. terms of shielding off the noise and Transacted prices at The Ven- preserving the privacy of residents ue since its launch have averaged in a very tight and crowded place”, $1,387 psf. The highest transact- says Ong Choon Fah, CEO of prop- ed price logged was $2.69 million erty consultancy Edmund Tie & Co, ($1,255 psf) in December 2013, for and one of the judges for the awards. a 2,142 sq ft penthouse unit on the Aedas also preserved the heritage 17th floor, based on caveats lodged elements of the old site, which used with URA. Meanwhile, the highest to house a stretch of shop houses and psf price fetched at the development a 24-hour coffee shop called Jack- was $1,563, for a 495 sq ft, one-bed- son Centre, says Lee. Two Angsana room unit on the 15th floor. The own- trees, conserved from the old site, er paid $774,000 for the unit in No- are now part of the public plaza in vember 2013. the commercial podium on Level The Venue Residences is close to One. Besides this, the walkways of public transport and amenities. As it the commercial plaza feature dia- is a mixed-use development, residents mond-patterned tiles. According to have convenient access to eateries Lee, these replicate the mosaic tiles within the development itself. Potong that used to line the five-foot ways Pasir MRT station, on the North East of the old buildings. There is also Line, is a four-minute walk away. It a spiral staircase, linking the first also offers easy access by car to PIE The Angsana tree in the centre of the plaza is one of the two conserved from the old site level to the second, which was de- and the Central Expressway. E Winners Completed Projects

Non-Central Region

For projects in the Non-Central Region completed in 2016/17 EP20 • EDGEPROP | OCTOBER 15, 2018 d’Nest Top Development

d’Nest — green haven in Pasir Ris

| BY BONG XIN YING |

’Nest, developed by property giant City Developments (CDL) and its joint-venture dpartners Hong Leong Holdings and Hong Realty, is located in the Pasir Ris Grove enclave. The 921- unit project comprises 12 towering blocks, and sits on a sprawling site of 4.1ha (444,280 sq ft), making it one of the largest 99-year leasehold sites in District 18. At this year’s EdgeProp Singapore Excellence Awards on Oct 3, d’Nest scooped the award for Top Develop- ment. “[d’Nest is] well thought out in terms of landscape,” says Yu Shi Ming, head of the department of real estate at the School of Design and En- vironment at the National Universi- ty of Singapore. The landscape of d’Nest, as its name suggests, was inspired by the warmth and privacy that a nest offers. “Within the site’s verdant landscape, the Nest pavilions that were inspired by nature become signature focal points that weave the social fabric of d’Nest together with the The 921-unit d’Nest comprises 12 towering blocks on a 4.1ha site area unique play spaces,” says Ann Teo, managing director of Coen Design International, the landscape consultant for d’Nest. Designed by Architects 61, d’Nest is based on the “Green Habitat” concept, incorporating eco-friendly design principles to be environmentally sustainable. d’Nest is at the forefront of CDL’s sustainability track record. Focused on the ethos of “conserving as we construct” since 1995, CDL has invested extensively in the use of solar energy technologies for its properties. At d’Nest, a 1,520 sq m (16,361 sq ft) solar panel system was installed on the rooftops of nine blocks to power the development, which set a new The Whispering Wall is the central green feature of d’Nest record for the “Largest Solar Panels in a Condominium” in the Singapore This aqua deck in the ‘Refresh’ zone is one of the water-themed facilities at d’Nest Book of Records in 2013. The solar panels generate almost 250,000kWh a year, equivalent to about 5% of the condominium’s annual energy usage. Other eco-features include its waste collection system, charging areas for electric vehicles and rainwater discharge systems. There are also sky terraces at selected blocks and lush green walls in the development. Apart from creating a natural cooling effect, they also provide a conducive and aes- thetically pleasing environment for At the family-friend- the residents. In addition, there is a ly development, play bio-pond allowing aquatic plants to is used to encourage grow. d’Nest was awarded the BCA interactions Green Mark Gold Plus award in 2013. d’Nest is also designed with a plethora of more than 50 facilities, offered in three thematic zones — The children’s waterplay pool is a cool respite from the heat Relax, Refresh and Revitalise — for entertainment and respite. Accord- tures available, such as the spa beds, sq ft, five-bedroom units, and include ing to Coen’s Teo, “the central green an aqua deck and aqua gym, a 50m 10 penthouses ranging from 2,723 to feature of the Whispering Water Wall lap pool, water cascade, spa sanctu- 3,455 sq ft. Each unit is designed in a immediately stands out”. This is an ary and kid’s waterplay pool. Chil- variety of layouts that offer intelligent extensive 270-degree cascading wa- dren are kept entertained with art and storage solutions that maximise the ter wall set in a well-concealed gar- movies at the art and project studios, use of space. The two- to five-bed- den surrounded by greenery. and they can also expend their energy room apartments offer floor-level There is a good Residents of d’Nest can relax at at the trampoline facility. or bay-window storage options. All mix of unit types at the Labyrinth Hammock or feel re- d’Nest’s unit offerings range from five-bedroom units offer a ceiling d’Nest, from one- to freshed in the variety of water fea- 484 sq ft, one-bedroom units to 2,379 storage system. E five-bedroom units EDGEPROP | OCTOBER 15, 2018 • EP21

An eCO-friendly development

| BY BONG XIN YING |

lora and fauna are eCO’s attractions for buyers and one of the reasons the 748- unit condominium clinched not only Fthe Sustainability Excellence award but also the Top Development award at the EdgeProp Singapore Excellence Awards 2018 on Oct 3. “eCO has set a new benchmark in creating significant species-rich habitats, with an em- phasis on native flora species, creating a new paradigm for its residents,” says Yvonne Tan, director of DP Green, who was one of the judges for the EdgeProp Awards. The 99-year leasehold eCO was the first private residential project in the Bedok South area to be launched in the past 30 years, according to Far East Organization. Jointly developed by FEO, Frasers Property and Sekisui House, eCO is focused on integrating native flora and fauna with the surrounding landscape. The development was completed in February last year. Five residential unit types are offered at eCO: SOHO, Suite, Loft, Condominium and Town- house. One- and two-bedroom suites range from 549 to 775 sq ft; two- and three-bedroom SOHO apartments from 614 to 990 sq ft; two- and three-bedroom condo units from 840 to 1,453 sq ft; three- and four-bedroom lofts from 1,012 to 1,776 sq ft; and four-bedroom townhouses from 3,218 to 3,854 sq ft. The different housing options cater to the varying needs of homebuyers, from singles to multi-generational families. According to FEO, extensive studies were conducted to generate an optimal ecological environment for the native flora and fauna to flourish. The effort was carried out by a multi-disciplinary team led by DP Architects, ICN Landscape International and renowned ecological architect Ken Yeang of Malaysia. As eCO was designed to create a natural habitat, car park elevations and clubhouses are well screened with green creepers. Mature raintrees also act as a subtle delineation between eCO and the neighbouring residential estate. At the heart of eCO lies the one-of-its-kind Green Corridor — a 100m-long nature trail and boardwalk through a lush woodland garden landscape of 18 conserved raintrees, which has attracted many chirping birds. Complete with a bio-stream coursing through at the end of the trail, the Green Corridor’s unique trail captured the judges’ attention. The design blends with the neighbourhood, as eCO’s boardwalk is adjacent to a landed housing estate. Says Ong Choon Fah, CEO of Edmund Tie & Co (ET&Co): “The neighbours also get to enjoy the view of the boardwalk and the chirping birds.” Ong was one of the judges for the EdgeProp Awards. Moreover, eCO’s landscape design not only encourages biodiversity but also harvests rainwater and helps cool the development. Dust particles from the air are filtered through innovative features. A rain garden has been designed to collect, filter and store rainwater runoff to be reused in water features and irrigation of the landscape. With retention and filtration functions, the rain garden comprises a series of heavily interlinked cascading pools. At its full capacity, the garden can collect enough water to irrigate the landscaping plants in eCO for three days. All these factors earned eCO the BCA Green Mark Gold Plus in 2014. eCO was developed to reflect the existing the existing terrain”, notes DP Green’s Tan. tecture and blended the multi-storey parking, a challenging job. To be able to show that it natural physical features of the area. Located There is no basement, and the multi-storey exponentially blurring the boundaries between is possible to protect and embrace nature is, on a greenfield site, eCO “has sensitively min- carpark is located on an existing slope. “The nature and built form,” Tan says. however, “really making a very bold state- imised earthworks by building to advantage lush plantings have greatly softened the archi- ET&Co’s Ong adds that preserving trees is ment”, she asserts. E EP22 • EDGEPROP | OCTOBER 15, 2018 Design Landscape Top Development Rivertree Residences Excellence Excellence

Rivertrees Residences: Capitalising on views of Punggol River

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CHARLENE CHIN | ed to spread the bicycle parking zone across the lower basement he 495-unit Rivertrees Res- car park instead of having a dedi- idences in Sengkang took cated bicycle keeping area. This of- home three awards at the fers residents added convenience as TEdgeProp Singapore Excel- they have easy access to the park lence Awards 2018. The de- connector along the Punggol Res- velopment won in the Design Excel- ervoir. lence, Landscape Excellence and Top When Rivertrees Residences Development categories. first previewed in February 2014, Rivertrees Residences, off Seng- it drew more than 500 visitors to kang West Avenue, overlooks the its show suites. The average start- Punggol River. The condominium, ing price was $1,099 psf in March developed by Far East Organization, 2014; it has risen 10% to an aver- Frasers Property and Japan-listed age of $1,209 psf from March to Sekisui House, was designed to August 2018. capitalise on views of the Punggol Units at Rivertrees Residenc- River. The five towers are laid out es, which is fully sold, range from such that more than 90% of the one- to four-bedroom units of 506 units have river views. Each tower to 1,593 sq ft. The living and dining slants away from the others to pro- areas have marble flooring, while vide privacy for residents. the bedrooms have timber flooring. At the development, there are Some units come with dual balco- eight strata-titled landed homes called nies — at the living room and master “Cove Houses” that are 10m to 15m bedroom — that offer unobstruct- from the river. The units were de- ed views of the river. signed with “luxurious waterfront So far, the highest purchase price living” in mind, says Frasers Prop- achieved at Rivertrees Residenc- erty, and were inspired by the houses is for a 1,399 sq ft, four-bed- The 495-unit Rivertrees Residences in Sengkang was developed by Far East Organization, Frasers Property and Sekisui House es in Sentosa Cove. These 1,528 sq room unit, which was sold for $1.77 ft, three-bedroom homes come with million ($1,265 psf) in February private parking and front a jogging 2015, according to caveats lodged path, which residents can use to ac- with URA. Meanwhile, the highest cess the jetty overlooking the river. psf price recorded at the develop- “The units are nicely positioned at ment was $1,364 — for a 570 sq ft, the peripheral of the development, one-bedroom unit. The owner paid integrating with the walkway beside $778,000 for the ground-floor unit in the river,” says Lee Liat Yeang, sen- August 2018. The unit first changed ior partner of Real Estate Practice at hands for $635,500 ($1,114 psf) in law firm Dentons Rodyk & David- March 2014. son, and one of the judges for the Rivertrees Residences is close to EdgeProp awards. public transport and amenities. It is Above all, the judges were most 10 minutes by foot from Layar LRT impressed with the “River Villa”, station, which connects to Sengkang which is built by the riverbank and MRT station on the North-East Line. supported by stilt decks. It boasts an The project is a one-minute drive outdoor jacuzzi, spa facilities, living from Seletar Mall and a nine-min- and function space and a kitchenette. ute drive from Waterway Point. It Yvonne Tan, accredited landscape ar- is six minutes by car to Nan Chiau chitect of landscape architecture firm Primary School. E Rivertrees Residences was designed such that more than 90% of its units will have views of the Punggol River DP Green and one of the EdgeProp awards judges, says the River Villa EDGEPROP was the “highlight” of the site tour. “It offers exclusive, elevated views of Sungei Punggol, giving residents a facility often found in luxury forest resorts,” she notes. Another EdgeProp awards judge, Ong Choon Fah, CEO of property consultancy Edmund Tie & Co, says the villa makes one “feel as though one is in Bali, away from the hustle and bustle”. Such facilities are what makes the development a “sanctuary” for residents to come home to, she adds. Other amenities at the condo include a gym, tennis court, dining pavilions, steam room and five kinds of pools. The 50m lap pool is surrounded by three jacuzzis, each placed near barbecue pits for the ease of organising lawn parties. For the children, there is a life-sized chess board and a water play area. Next to the drop-off plaza at the main entrance, a shop unit enables residents to make their gro- There are eight ‘Cove Houses’ at Rivertrees Residences — 1,528 sq ft, cery runs. The developers also opt- three-bedroom units that are 10m to 15m from Punggol River Children can play at the life-sized chess board next to the dining pavilions EDGEPROP | OCTOBER 15, 2018 • EP23 Innovation Westwood Residences Excellence

Westwood Residences rides cycling fad

PICTURES: KOH BROTHERS | BY BONG XIN YING |

estwood Residences is a 480- unit, 99-year leasehold executive condominium located on West- Wwood Avenue in Jurong West. Completed in 2017, Westwood Residences comprises nine blocks of residential units that cater for diverse buyers. It has 28 unit types ranging from 689 sq ft, two-bedroom units to 1,518 sq ft, five-bedroom units. More than 90% of the tower blocks are designed with North-South orientation, and 50% of the units enjoy unobstructed views. The units have a full-height glass façade for natural lighting. On Oct 3, Koh Brothers bagged an award for Innovation Excellence at the EdgeProp Singapore Excellence Awards 2018 for the development. Westwood Residences is jointly developed by Koh Brothers and Heeton Homes in an 80:20 tie-up. As Singapore’s first bicycle-centric development, Westwood Residences “promotes a car-lite [society] and a healthy lifestyle, [and] its unique theme has a strong focus on facilities for active healthy living with bicycle-centric amenities for all ages”, says Yvonne Tan, director of DP Green and one of the judges of the EdgeProp awards. The whole development was designed to be bicycle-friendly, with wider footpaths and marked bicycle paths. Every unit at the development has individual access to bicycle storage, Westwood Residences is the first-ever bicycle-themed development in Singapore which comprises a bicycle parking slot with a secure covered garage. play. All these features impressed Edmund Westwood Residences has an outdoor mini Tie & Co CEO, Ong Choon Fah, an EdgeProp velodrome, customised for cycling enthusiasts awards judge. She notes that no other devel- to hone their racing techniques. This is a first opment “takes cycling to this level”. for a Singapore condominium. In keeping with Ong says: “It actually changes people’s mind- the cycling focus, there is also a kid’s traffic sets about cycling, not just for leisure, but [also] garden and BMX adventure park. This not only as a mode of transport. It brings people togeth- allows children to cycle freely but also enables er, whether you are a cycling enthusiast or just them to be educated on road safety through spending time with your family.” E

With 28 unit types, Westwood Residences has a good mix of two- to five-bedroom units The outdoor mini velodrome for cycling enthusiasts to hone their racing skills

The secure garage in the basement of Westwood Residences is a proper bicycle storage space for residents The BMX adventure park allows children to cycle freely and learn about road safety through play

EP26 • EDGEPROP | OCTOBER 15, 2018 Winners Uncompleted Projects

Central Region

For projects in the Central and Rest of Central Region launched in 2017 EP28 • EDGEPROP | OCTOBER 15, 2018 Sustainability Marketing Top Development Park Place Residences Excellence Excellence

Park Place Residences — acing sustainability and innovation

LENDLEASE | BY TIMOTHY TAY | Landscaping and natural ustralian-based construction and water catchment areas property developer Lendlease has throughout the development been making waves in the Singa- will reduce urban heat Apore property market since estab- by 20% lishing itself here in 1973. Its latest develop ment in Singapore is Paya Lebar Quarter, a modern integrated development in the centre of the Paya Lebar neighbourhood. Paya Lebar Quarter’s residential component, the 436-unit Park Place Residences, clinched three awards at the EdgeProp Singapore Ex- cellence Awards 2018 on Oct 3, including the Top Development award for an uncompleted project in the Central region. Although Park Place Residences and Paya Lebar Quarter have yet to be completed, the judges of this year’s awards were impressed by the plans and details of the development submitted for consideration. They also took into account Lendlease’s track record of innovative developments and proven commitment to environmental sustainability. “Park Place Resi- dences and Paya Lebar Quarter are Lendlease projects, and I believe the company has the reputation to deliver a high-quality development,” says National University of Singapore SAMUEL ISAAC CHUA/THE EDGE SINGAPORE associate professor Yu Shi Ming, who is head “In terms of sustainability, Lendlease is oper of urban regeneration projects in Australia of department at the school of design and en- among a handful of developers in Singapore and the UK to market to local buyers the poten- vironment. He was one of the judges at this that actually walk the talk. Based on all their tial of Paya Lebar Quarter to be a new regional year’s EdgeProp awards. other projects, it is quite clear that they want commercial hub in Singapore. Its strategy in- Lendlease has set key sustainability tar- to achieve what they set out to do in terms of cluded emphasising the transport connectiv- gets for Paya Lebar Quarter, including grow- sustainability,” says Yu. “When I examine what ity and good location, since the site is beside ing tree coverage by three times the existing they are proposing, and even though the pro- the Paya Lebar MRT interchange on the East- area and a 30% increase in biodiversity. More ject is incomplete, I believe Paya Lebar Quar- West and Circle lines. At this year’s EdgeProp than 100,000 sq ft of the site will be dedicat- ter and Park Place Residences will do well in awards, Lendlease also walked away with the ed to public green spaces on the ground floor terms of sustainability.” EdgeProp Marketing Excellence Award. as well as in vertical and podium areas. The The 429-unit Park Place Residences is Lend- The 4ha Paya Lebar Quarter will comprise greenery will extend into an elevated land- lease’s maiden residential property development one million sq ft of Grade-A office space in scape deck between the residential blocks at in Singapore. The 99-year leasehold condo has three office towers and a 340,000 sq ft retail Park Place Residences. This deck will feature a mix of one- to three-bedroom units in three mall. More than half of the office space has al- the condominium’s facilities, including a 50m towers. There are 117 one-bedroom units of 484 ready been pre-committed and leased to inter- lap pool, yoga deck, outdoor dining terrace to 581 sq ft; 234 two-bedroom units of 646 to national companies and local industry leaders. and clubhouse with private dining room and 904 sq ft; and 78 three-bedroom units of 1,076 Insurance giants Great Eastern and NTUC In- kitchenette. Most of the condo’s public areas to 1,367 sq ft. More than half of the units were come will lease 125,000 sq ft across four floors will be embedded with natural water catch- snapped up on the first day of launch in March and 55,000 sq ft across two floors respectively. ment areas and landscaping to reduce storm last year. The developer had intended to sell Meanwhile, listed office outsourcing company water discharge by 30% and generated urban Park Place Residences is the residential component only about 170 (40%) units, but released more IWG is in talks to lease 52,000 sq ft for Spac- heat by 20%. of Paya Lebar Quarter because of overwhelming demand. es, its co-working business. Other tenants in- The developer also plans to reduce the op- The second phase of sales occurred in April clude SMRT, which is leasing 97,000 sq ft across erational energy consumption of all the build- provide the electrical infrastructure to support this year, and saw more than 149 units sold, three floors, and CBRE, which will move 600 ings in Paya Lebar Quarter by more than 30%. electric vehicle charging. For its environmen- out of the 219 units remaining. Park Place Resi- employees into a dedicated innovation centre. It will incorporate energy-efficient lights and tally sustainable initiatives, Park Place Resi- dences is more than 95% sold, and prices have “That big, local companies like CBRE are water-chilled plant and air-conditioning sys- dences was awarded the Building and Con- ranged from $935,000 ($1,930 psf) for a 484 sq committing to office space in Paya Lebar Quar- tems, and lifts and escalators equipped with struction Authority’s Green Mark Platinum ft, one-bedroom unit sold on April 5 this year ter is reflective of not just the excellent loca- sleep mode drives that will set them to idle award in 2016. It was also awarded the Sus- to $2.13 million ($1,832 psf) for a 1,163 sq ft, tion of the project, but also their confidence when not in use. In support of greener trans- tainability Excellence Award at the EdgeProp three-bedroom unit sold on April 7. in the high-quality project Lendlease is creat- port options, the integrated development will awards this year. Lendlease banked on its success as a devel- ing,” says Yu. E

LENDLEASE SAMUEL ISAAC CHUA/TH E EDGE SINGAPORE

The mixed-use Paya Lebar Quarter will have a mall adjacent to the Paya Lebar MRT interchange Park Place Residences is more than 95% sold, since it was launched in March last year EDGEPROP | OCTOBER 15, 2018 • EP29 EP30 • EDGEPROP | OCTOBER 15, 2018 Martin Modern Design Landscape Excellence Excellence

Martin Modern bags four titles at EdgeProp Excellence Awards

| BY CHARLENE CHIN | The appointed design architects for Martin Modern were four-time artin Modern clinched President’s Design Award winner Yip four awards at the Edge- Yuen Hong from ip:li architects in Prop Singapore Excel- collaboration with Tang Kok Thye, Mlence Awards 2018. The senior principal architect of ADDP development emerged Architects. Meanwhile, ICN De- winner for Design Excellence, Land- sign was the appointed landscape scape Excellence, Innovation Excel- architect. lence and Top Development. “We were very careful in who we Martin Modern is a 450-unit luxury selected as the architects because we condominium currently under develop- wanted to bring something new to ment and situated on a sloped 171,535 the market,” says Cheng. sq ft plot at Martin Place. “What we The architects managed to utilise like about the area is that it’s very the undulating site to create an ex- quiet and exclusive,” says Cheng Hs- periential landscape in the developing Yao, group managing director of ment. According to ADDP’s Tang, the GuocoLand Singapore. “And yet, it’s main challenge for the architects was very connected — just a stone’s throw to construct a development on land from the restaurants at Robertson Quay with “so much character”. and the Singapore River.” As the site is large and undulating, Over 200 species of trees and Cheng was convinced that the develop- plants er could “create something special”, he Two 30-storey, high-rise towers oc- says. “When we bought the land, we cupy a footprint of just over 20% of had a strong conviction of its future. the site area, freeing the remaining View of the greenery outside the clubhouse Prior to the site, there had not been a 80% for greenery. Over 200 species launch of a government land parcel in of tropical trees and plants have been On the rooftop of both towers are a dipping pool and Jacuzzi; as well two balconies are included in the that area of District 9 in years.” selected, and there will be 15 distinct two exclusive gardens — which the as two fitness courts. three- and four-bedroom premium gardens. Native tree species such as developer terms “Secret Gardens”. units, one each in the dining and liv- ‘A sanctuary of greenery jelutong, meranti and chengal will The plants selected for the “Secret Each unit has a view ing areas. The floor-to-ceiling sliding in the city’ be grown on the grounds. The ficus Gardens” will be those that are able The unit mix at Martin Modern rang- grilles — made of perforated alumin- While prestigious, the District 9 neigh- variegata, which towers 30m when to thrive in high altitudes, says Simon es from two- to four-bedroom units of ium — at the balconies let natural bourhood is densely built. “What’s mature, will also be planted. Morrison, director of ICN Design. 764 to 1,798 sq ft. Ceiling heights for light into the rooms and allow bet- most difficult to find is space and Green features include a forest Residents will also be able to host the ground and top-floor units reach ter ventilation. greenery, and if you could live in a trail; a maze that opens to a fitness private parties at the dining pavilions up to 4.2m, offering extensive views The developer also made sure Botanic Garden right in the heart of court; a shallow bio pond, next to a on the roof terraces. Other facilities of the landscaped scenery. that the unit interiors come with District 9, how nice would that be?” lawn surrounded by trees; an aquatic in the development include a din- GuocoLand wants to ensure that top-range fittings. These include That was the premise that led to the garden between the two residential ing and club lounge that overlooks each of the 450 units has a view — Miele kitchen appliances, SMEG creation of “a sanctuary of greenery blocks; and a bamboo grove path sit- a 50m lap pool; barbecue pits at the of the gardens, city skyline or Singa- refrigerators, Laufen sanitaryware in the city”, he adds. ting next to the tennis court. two ends of an expansive party lawn; pore River, says Cheng. As a result, and AXOR bathroom accessories. EDGEPROP | OCTOBER 15, 2018 • EP31 Innovation Top Development Martin Modern Excellence

PICTURES: GUOCOLAND

The arrival court at the 99-year leasehold Martin Modern

The bathrooms also come with full unit sold — in terms of both abso- marble walls and flooring. lute and psf price — at Martin Mod- ern was for a 1,798 sq ft, four-bed- Dearth of new launches room unit on the 28th floor of one The market is also in Martin Modern’s of the towers. It achieved a price of favour, says Dominic Lee, PropNex $5.64 million ($3,138 psf), according Realty’s head of luxury team. There to caveats lodged in August. has not been a new launch in that This July, GuocoLand released area since 2012, when UP@Robert- some of its ground floor units for sale. son was launched, he points out. PropNex’s Lee sees “real demand” for Since Martin Modern’s launch in such units, which have views of the July last year, the project is more than pools and curated gardens. 64% sold. The average price achieved The project is slated for comple- is $2,366 psf. The most expensive tion in 2021. E EP32 • EDGEPROP | OCTOBER 15, 2018 EDGEPROP | OCTOBER 15, 2018 • EP33 EP34 • EDGEPROP | OCTOBER 15, 2018 Artra Top Development

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

Artra’s 21,500 sq ft sales gallery is designed to look like a contemporary art gallery

Artra scores on layout design and balcony space

| BY CHARLENE CHIN | signed with two entrances. The main entrance opens to the living and dining area, while the rtra, a mixed-use project on Alex- side entrance opens to the kitchen and utility andra View, won in the Top Devel- room. With this layout, homeowners can en- opment category at the EdgeProp ter the kitchen after doing their grocery runs ASingapore Excellence Awards on without having to step into the living room, Oct 3. The development, next to says FEC’s Tan. Redhill MRT station, comprises 400 residen- There were several considerations FEC had tial units and 16 commercial lots. It is devel- to take into account for Artra. For instance, oped by FEC Skyline, a joint venture between the residential blocks had to be set back as Hong Kong-listed Far East Consortium Inter- far away as possible from the MRT station national and New World Development Co. to minimise noise from the trains, Tan says. The 99-year leasehold development had its There will also be an “acoustic canopy” that official launch in April last year. FEC Skyline will serve as both a sound barrier and shel- sold 130 units, or 65% of 200 units released, tered walkway from Redhill MRT station to in just one day. As at end-September 2018, the The residential units at Artra start from the third The ‘acoustic canopy’ serves as both a sound barrier the development. To ensure the privacy of project was close to 77% sold (307 units), ac- floor, while the childcare and commercial compo- and sheltered walkway from Artra to the MRT station residents, large and leafy trees will be plant- cording to Alice Tan, director of residential pro- nents are on the lower two floors ed next to the pool. ject marketing at Knight Frank. The average Homeowners with children at Artra will price fetched at Artra was $1,650 psf in April odd angles behind cabinets. living and dining space. “At first glance, some be able to enjoy the convenience of having a 2017; it has now risen 11.2% to $1,835 psf for In addition, FEC has designed the layouts people might think the unit looks really huge, childcare centre. Situated on the second level the duration of April to September 2018, ac- such that units appear more spacious than their but if you think about it, that’s only because of the development and taking up 5,380 sq ft of cording to caveats lodged with URA. actual sizes. For the three-bedroom units, the of the way we’ve arranged the layout,” says space, it caters for 100 children. The develop- Tan attributes Artra’s popularity among balcony area was stretched across at least two Derrick Tan, design director at FEC, who was ers have also provided a 1,076 sq ft children’s buyers to the “unique” layout of the units. rooms — a combination of either the master part of the team that designed Artra. playground that links to the childcare centre. Instead of the regular rectangular layout in bedroom, dining area, or living room. In the At the development, the residential units start As the commercial component of Artra is most developments, some of the units at Ar- largest of the three-bedder offerings, the bal- from the third floor and range from two-bed- on level one, residents will not need to leave tra have a gradual slant to their shape. This, cony is spread across all three spaces. Mean- room units of 786 to 829 sq ft and three-bed- the development to get groceries or a meal. however, does not result in tight angles in the while, homeowners who purchased the largest ders of 1,044 to 1,410 sq ft, to five-bedroom A supermarket will occupy 10,760 sq ft of unit, but is “comfortable and functional”, she unit — the five-bedroom unit of 2,583 sq ft — units of 2,583 sq ft. There are only six five-bed- space at the development. The retail compo- explains. FEC had in fact carved out the tri- will have expansive views from the balcony, room units at Artra. nents have been earmarked for F&B purpos- angular space as storage spaces, hiding the as it stretches across two bedrooms and the Units with private lift lobbies were de- es, Tan says. E

Alice Tan of Knight Frank attributes Artra’s popularity among buyers to the unique layout of its units The open-concept living and dining rooms at the Artra showflat Winners Uncompleted Projects

Non-Central Region

For projects in the Non-Central Region launched in 2017 EP36 • EDGEPROP | OCTOBER 15, 2018 Landscape The Clement Canopy Top Development Excellence

Living with nature at The Clement Canopy

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY TIMOTHY TAY | in the type of home you come back to each day,” she says. he 505-unit Clement Canopy is joint- Many of the condo facilities, such as the ly developed by Singapore-listed UOL dining pavilion, poolside grill and entertain- Group and its sister company Singa- ment room, encourage social interaction. The Tpore Land. Launched for sale in Feb- condo also has a gym, 50m lap pool and tennis ruary last year, the development was court. Enabling residents to interact in natural popular among homebuyers, with more than surroundings is important as it brings the res- 200 units sold on its launch day. The Clement idential community closer together, says Ong. Canopy was fully sold by August this year. The The condo sits on a 139,931 sq ft site. A mul- 99-year leasehold development comprises two ti-storey carpark, fitness corner, gardens and a 40-storey blocks with a mix of two- to four-bed- putting green act as a buffer between the resi- room units of 635 to 1,539 sq ft. dential blocks and the Ayer Rajah Expressway. The Clement Canopy won the Top Devel- About 75% of the units sold when the development Award in the uncompleted project cat- opment was launched were two- and three-bed- egory in the Non-Central Region at the Edge- room units priced below $1.5 million, with Prop Singapore Excellence Awards 2018 on prices ranging from $1,330 to $1,360 psf. The Oct 3. The condominium also won the Land- developer also offered early-bird discounts of scape Excellence Award in the same category. $6,000 to $12,000. The project’s concept, location and affordabil- Overall, prices at The Clement Canopy ity were some of the factors that contributed ranged from $1,187 to $1,735 psf during its to its high demand. With its immersive land- sales period of one year and five months. The scape environment, nature takes centre stage most expensive unit sold in terms of absolute within the development, which stands out price was a 1,346 sq ft, four-bedroom unit on from other projects. the 34th floor that fetched $2.1 million ($1,559 According to the judges of this year’s Edge- sq ft) in April this year. Prop Singapore Excellence Awards, one of the The development has 194 two-bedroom units distinguishing aspects of The Clement Cano- of 635 to 732 sq ft; 115 three-bedroom units of py is that its landscape adds to the overall us- 990 to 1,163 sq ft; 116 three-bedroom-with-utili- ability of its space. “A pretty space that looks ty units of 1,109 to 1,141 sq ft; and 80 four-bed- great but is not comfortable to use, or does room units of 1,346 to 1,539 sq ft. not meet user needs, is an opportunity lost,” The Clement Canopy is located on Clementi says Yvonne Tan, director at DP Green and Avenue 1 and is close to the Kent Ridge cluster one of the judges. of universities that include the National Uni- A development such as The Clement Can- versity of Singapore and the Yale-NUS College. opy attracts homeowners who appreciate liv- Among the other nearby educational institu- ing close to nature and enjoy the relaxing life- tions are Anglo-Chinese Junior College, Fair- style it provides, says fellow judge Ong Choon field Methodist Primary School and Nan Hua Fah, CEO of Edmund Tie & Co. “Wellness is Primary School. The condo is also close to the a big draw for buyers today, and a well-con- Clementi MRT station on the East-West line. ceived landscape and design concept adds val- The development is expected to obtain its The Clement Canopy won the Top Development Award in the uncompleted project category in the ue to a development and makes a difference Temporary Occupation Permit by 2020. E Non-Central Region

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

A typical three-bedroom unit at The Clement Canopy The forest-inspired landscaping around the pool provides a tranquil ambience

Greenery, landscape,and water features cover 52% of the development’s site The condo’s facilities, such as the poolside grill, encourage social interaction EDGEPROP | OCTOBER 15, 2018 • EP37 EP38 • EDGEPROP | OCTOBER 15, 2018 Grandeur Park Residences Innovation Marketing Top Development Excellence Excellence

Grandeur Park Residences banks on wellness amenities

PICTURES: CEL | BY CHARLENE CHIN |

hen Grandeur Park Residences first previewed in February last year, over 10,000 people showed Wup at the sales gallery. One month later, 60% of its total 720 units were sold at its official launch. Today, only around 25 units are still available for sale. The 99-year leasehold development, next to Tanah Merah MRT station, stands out for its array of wellness and health facilities. At the EdgeProp Singapore Excellence Awards 2018, Grandeur Park Residences won in three categories: Innovation Excellence, Marketing Ex- cellence and Top Development. The recreational facilities provided, ranging from indoor spa to high-tech gym equipment, are impressive, says Lee Liat Yeang, one of the judges for the EdgeProp Excellence Awards. Lee is senior partner of real estate practice at law firm Dentons Rodyk & Davidson. The developer CEL Development — property development arm of listed construction group Chip Eng Seng Corp — focused on providing unique wellness facilities to its residents. According to CEL, these include a Himalayan Salt Room, a lounge space packed with heated Grandeur Park Residences, off Upper Changi Road, comprises 720 units across six residential blocks blocks of Himalayan salt, believed to be beneficial in treating skin conditions and respira- tory ailments; an Ice Therapy Corner, where fitness buffs can go after exercising; and a Sen- sory Spa Jet, where residents can relax under the stream of water jets. There is also a range of exercise facilities at the condo. Omnia fitness equipment is provided at a dedicated exercise pavillion. Om- nia is a versatile training concept where users can perform a wide range of exercises, from traditional strength training routines to cardio workouts and more. A separate fitness studio is available for yoga lessons. Water facilities include a 50m infinity pool, aqua gym and outdoor Jacuzzi. Kid-friendly facilities at the condo include a clubhouse for children, with an The children’s playground at Grandeur Park Residences CEL also offers residents a range of les- al fresco dining area sons, from classes on music and fitness to sports. The developer tied up with business ter to younger families, says Ong Choon Fah, spaces for facilities like lounge cabanas and corner balconies to maximise views of the partners Amore Fitness and Mandeville Con- CEO of property consultancy Edmund Tie & dining pavilions. landscape. servatory of Music to provide fitness, gui- Co. “Given that the site is fairly large, [the de- Meanwhile, CEL kept the commercial func- At Grandeur Park Residences, the unit mix tar and violin lessons to residents. Other veloper] is able to cater for all these”, she says. tions — integrated shop units and a childcare ranges from one-bedroom units to five-bedders, lessons include those on swimming, tennis “They have brought facilities that you would centre — tucked away in a corner of the devel- at 420 to 1,744 sq ft. As at Sept 19, there were and cooking. expect in a prime area to a suburban develop- opment, offering residents convenience with- only 26 units left unsold at the development. CEL has also carved out dedicated play areas ment”, Ong tells EdgeProp. out disrupting the quiet of the community. In March last year, the average price fetched and facilities for children. There is custom-sized Grandeur Park Residences comprises six Certain blocks at the condo come with was $1,373 psf. The average price has now gym equipment for children in the family gym, towers laid out in a U-shape; the 50m lap pool different facade designs. Block 1 and 2, right risen 13% to $1,552 psf for the duration of and a dedicated children’s clubhouse housing an and aqua gym mark the centre of the develop- next to Tanah Merah station, come with priva- March to August. al fresco dining area with kid-friendly furniture. ment and are separated by wooden decks and cy screens, while Block 3 and 4 are installed So far, the highest price transacted at Gran- For adventurous children, there are climbing landscaped greenery. To maintain privacy, each with sun screens. All towers are orientated deur Park has been $2.2 million ($1,523 psf). structures, a tree house and a water play zone. residential block is located a minimum 25m in a north-south direction to minimise heat This was for a 1,453 sq ft, five-bedroom unit Overall, the facilities at the development ca- away from one another. This, in turn, creates from the harshest of sun rays. There are also on the 13th floor, sold this March. E

The arrival court at Grandeur Park Residences Residents can dine at the elevated hilltop pavilions at the development

EP40 • EDGEPROP | OCTOBER 15, 2018 Seaside Residences Design Sustainability Top Development Excellence Excellence

PICTURES: FRASERS PROPERTY

The 841-unit Seaside Residences won three awards on Oct 3

Seaside Residences — seafront living in the east

| BY BONG XIN YING |

easide Residences, located in Siglap in District 15, is developed by a consortium comprising Singapore-listed developer SFrasers Property, Japanese developer Sekisui House and construction company Keong Hong Holdings. Launched in April last year, the 99-year leasehold development comprises 841 residential units and two commercial units. At the EdgeProp Singapore Excellence Awards 2018 on Oct 3, Seaside Residences bagged three awards — Design Excellence, Sustainability Excellence and Top Development. The condominium’s appeal can be attributed largely to its location, as it is less than a More than 70% of the units at Seaside Residences are guaranteed a sea view kilometre from East Coast Park. In keeping with ALBERT CHUA/THE EDGE SINGAPORE East Coast living, Seaside Residences’ facilities carry the themes of “Sun”, “Sea”, “Sand” and “Sky”. The family lawn and the reflexolo- gy garden are under the “Sun” theme; the 50m lap pool and beach pool are Sea-themed facilities for residents. Given its proximity to East Coast Park, which is frequented by cyclists, Seaside Residences has a sheltered bicycle park with direct cyclist access to nearby MRT stations. It is linked to East Coast Park via a pedestrian underpass. One of the EdgeProp Awards judges, Lee Liat Yeang, senior partner at Dentons Rodyk & Davidson, describes Seaside Residences as “a rarely available new sea-fronting residential Less than a kilometre away, East Coast Park offers various outdoor activities project”. Lee says: “The developer has also tak- The 99-year leasehold development has a wide range of fitness and lifestyle facilities that families can enjoy together en advantage of the elongated shape of the site to design blocks of units [such that] many of tions at the development maintained an aver- ALBERT CHUA/THE EDGE SINGAPORE [the units] will have [unobstructed] sea views.” age price of $1,739 psf, according to URA data. Designed by ADDP Architects, Seaside Res- In January 2016, the Frasers Property-led idences has four 27-storey towers. More than consortium placed the winning bid of $624.18 70% of the units at Seaside Residences are million for this 207,842 sq ft Government Land guaranteed a sea view. The living rooms and Sales site at Siglap Link, which translated into bedrooms that face the sea boast full-height $858 psf per plot ratio. There has been no sale windows, complementing the balconies that of a GLS site on the stretch overlooking the East open up to vast sea views. Each pair of towers Coast Parkway since 1997, when Cheung Kong is connected by a sky terrace, which is a com- Property Holdings purchased the 99-year lease- munity space topped by lush gardens, acces- hold site on Bayshore Road to develop the 969- sible to all residents and offering views of the unit Costa del Sol, which was completed in 2004. city and the sea. Seaside Residences is expected to be com- Seaside Residences is 84% sold. During the pleted in 2020. The project will be a six-min- three months of its launch, 459 units — 71% ute walk from the upcoming Siglap MRT sta- of the released units — were taken up. Units tion on the Thomson-East Coast Line. Upon were transacted at an average of $1,733 psf the line’s completion in 2023, residents will then. Even after the property cooling measures have easy access to Marina Bay and the that took effect on July 6, however, transac- Changi Airport. E The crowd at the showflat during the launch of the development Winners

Top Boutique Development

(in alphabetical order) EP42 • EDGEPROP | OCTOBER 15, 2018 Top Boutique The Orient Development (Completed) The Orient — A touch of Shanghai

PICTURES: AURUM LAND | BY CECILIA CHOW |

he Orient, a boutique development located on Pasir Panjang Road, was completed last December. It won the award Tfor Top Boutique Development (Com- pleted Project) at the EdgeProp Singa- pore Excellence Awards 2018. Befitting its name, The Orient’s design is a contemporary interpretation of “Shanghai in the 1920s”, says Michelle Yong, director of Aurum Land, the project’s developer. Au- rum Land is a subsidiary of the privately held, family-owned construction and civil engineer- ing firm Woh Hup Holdings, founded in 1927. Inspired by the ornate screens of Chinese homes, the façade of the development is wrapped by a geometric frame with lattice design. The intricate lattice design can be found in the interiors too. The project is designed by Form- werkz Architects, which has carved a niche for itself in the design of private houses and The upper deck of a two-bedroom loft-style boutique residential developments. apartment that has been turned into a sleeping The Orient consists of two five-storey blocks area with a study on the lower deck on a freehold site of 20,042 sq ft. Yet, it man- ages to pack in many communal spaces into Upcoming projects the landscaped grounds, including a lap pool, The recovery in the property market last year sun deck, Jacuzzi, gym, relaxation corner and spurred Aurum Land to acquire sites. In Sep- dining pavilion. tember last year, the developer purchased the Units are a mix of one- to three-bedroom freehold site at 12 Amber Road for $58 million apartments, two-bedroom dual-key apartments The exterior of the 52-unit The Orient, which was completed last year ($2,545 psf). The 22,800 sq ft site has a plot as well as three- and four-bedroom penthous- ratio of 2.8, with a gross floor area of 63,840 es. Designed as loft-style apartments, com- sq ft. Given its location in Katong, the project pact one-bedroom units start from 388 sq ft will be named Nyon, and its design will have and two-bedroom units from 592 sq ft. Add- Peranakan influences. ing to the feeling of luxury is the lofty ceiling In May this year, Aurum Land made a bulk height of 3.5m. purchase of eight units at Balmoral Gardens for The dual-key apartments provide flexibility nearly $83 million. It then amalgamated the — for investors who want to rent out part of site with that of the adjacent 11 Balmoral, the unit; for multi-generational families who which it had acquired en bloc for $73.8 mil- still want privacy; or for those who want a lion in November last year. The site at 11 Bal- home office. “These versatile units are the per- moral is about 30,200 sq ft. fect solution,” says the developer. Aurum Land’s new condo project at Bal- The Orient was launched in 2015. Owing moral will have more than 100 units. It will to the slew of property cooling measures, the be a luxury condo named The Hyde, inspired market was soft then, Yong recounts. Howev- by “Hyde Park in London”, according to er, when the market started to recover last year, Yong. The project will comprise three-bed- sales took off. “The project is doing really well,” room units. she adds. The average selling price achieved is Both Nyon and The Hyde are expected to $1,832 psf, and the project is fully sold. be launched sometime in 1Q2019. In terms of location, The Orient is situat- The dining and kitchen of a typical unit at The Orient ed within walking distance of Haw Par Villa Beyond property development MRT station. It is also near Mapletree Busi- office, loft office) units and retail space; as well and colonial black-and-white houses. It was Besides property development, Yong has been ness City, VivoCity and the HarbourFront pre- as GuocoLand’s 1,024-unit Sims Urban Oasis, sold out within five days of its launch in mid- growing Aurum Group — with investments cinct, and within a short drive of Tanjong Pa- which was completed last year. 2012 and completed in 2015. in Hmlet, a co-living platform, via Aurum In- gar and the CBD. Since taking the helm at Aurum Land in The launch of 1919 was followed by that of vestments; and venturing into co-working 2007, Yong, who is a fourth-generation direc- the 65-unit Three 11 at Upper Thomson. The de- with Collision 8 as well as a collaborative fit- Continuing legacy tor in the family business, has overseen the velopment has “a luxury safari experience”, in- ness-wellness space, Core Collective, over the Aurum Land was founded in 1982 and focus- launch and development of several boutique spired by the nearby MacRitchie Reservoir Park past two years. es on boutique developments, while Woh Hup projects. She has focused on acquiring free- and Nature Reserve. Launched in 2013, units Yong is exploring the possibility of offer- handles construction of high-profile, large- hold sites in established and prime residential at Three 11 were quickly snapped up as well. ing these services to the future residents in scale developments such as the upcoming Jew- neighbourhoods. “All our projects have differ- Two other launches followed: The Orient in her new projects at Aurum Land. “There are el Changi Airport, designed by acclaimed ar- ent themes,” she says. 2015, and The Asana, a 48-unit freehold con- a lot of synergies in the various businesses,” chitect Moshe Safdie; Far East Organization’s The first project that Yong was involved in dominium, in 2016. The Asana is located on she says. “We are reinventing ourselves at Au- Woods Square, an integrated office develop- from the start was 1919, a 75-unit development Queen’s Road, off Bukit Timah Road and Farrer rum; we are not just a property developer but ment with Grade-A office space, SOLO (small on Sophia Road, inspired by the shophouses Road, and the project was completed in 2017. also a space and business innovator.” E

The lap pool, barbecue pavilion and gym are some of the facilities at The Orient EDGEPROP | OCTOBER 15, 2018 • EP43 Top Boutique Watercove Development (Uncompleted)

PICTURES: BUKIT SEMBAWANG ESTATES

The Top Boutique Development award went to Watercove by Bukit Sembawang Estates

Watercove — boutique cluster houses by the sea

| BY TIMOTHY TAY | ter elements such as the swimming pool or water play area, says Ng. Watercove is close hey may be developed on relative- to many waterfront and recreational facili- ly small plots of land and often com- ties in the area. Residents can sail at the SAF prise fewer than 100 residential units, Yacht Club, canoe at the Sembawang Wa- Tbut boutique landed developments in ter-Venture, or experience Singapore’s only Singapore provide spacious homes and natural hot spring nearby. the cosiness of a close-knit residential estate. In recognition of the sustainable features Recognised as a benchmark boutique devel- that are included in the development, Water- opment, Watercove by Singapore-listed Bukit cove was awarded the Green Mark Gold Plus Sembawang Estates walked away with the Top accreditation by the Building and Construc- Boutique Development award at the EdgeProp tion Authority. Watercove’s initiatives include Singapore Excellence Awards 2018 on Oct 3. a heat recovery system for water heaters, LED The freehold development, located in Kam- lighting for common areas, energy-saving mo- pong Wak Hassan in Sembawang, comprises tion sensors in the carparks, and high efficien- 80 strata terraced houses. cy air-conditioning and air filtration systems There are 80 strata landed houses in the development The District 27 cluster housing project was in the units. lauded by the judges for its design concept The houses also boast top-of-the-line fit- and environmentally sustainable features, as tings such as Miele and De Dietrich kitchen ap- well as its wellness and lifestyle amenities. pliances, and Villeroy & Boch and Hans grohe The houses were inspired by colonial-era bun- bathroom fittings. galows in the Sembawang area, and feature The development is expected to be com- similarly spacious interiors and wide win- pleted by June next year. All of the houses at dows. Other selling points like the efficient Watercove will be en-suite four-bedroom units, layout, sea and water views, wide range of with a guest room and roof terrace. There facilities and Green Mark features were also are 54 intermediate terraced units of 3,348 to identified in the initial planning stage of the 3,552 sq ft; 22 corner units of 3,337 to 4,521 project, says Ng Chee Seng, CEO of Bukit sq ft; and four semi-detached units of 3,434 Sembawang Estates. to 3,843 sq ft. The development sits on a 125,216 sq ft Watercove is one of a few strata landed site fronting the beach and the Straits of Jo- seafront developments in the Sembawang hor. Units will feature high ceilings of up to area. More than 67 units (83%) have been The 25m pool at Watercove is among the more than 20 facilities residents can enjoy 3.65m, in addition to the wide windows, so sold since the development was launched in residents can enjoy the tranquil environment. May last year. Prices have ranged from $2.23 Buyers of strata landed houses choose such million ($645 psf) for a 3,466 sq ft, inter-ter- homes because they combine the lifestyle of race unit sold in July last year, to $3.37 mil- a landed housing estate with the facilities and lion ($745 psf) for a 4,521 sq ft corner ter- landscape available in modern condominiums. race house that was sold in May last year. The development’s facilities are designed to The most recent unit sold was a 3,466 sq ft provide the comfort and relaxed ambience of corner terrace that fetched $2.4 million ($692 a resort. They will include a 25m swimming psf) on Sept 16. pool, lounge pool with spa seats, Jacuzzi, Bukit Sembawang has been developing land- steam room, an aromatic garden, a barbecue ed estates in Singapore for the past 50 years. corner with teppanyaki grill, as well as indoor Its other projects include Straits Gardens, a 67- and outdoor gyms. unit landed estate in Sembawang, and Luxus Being next to the sea, Watercove offers Hills, a 999-year landed estate in Ang Mo Kio. waterfront living. While not all units will “Our experience has helped us in understand- have a direct sea view, the design and lay- ing the key elements that have to be incorpo- out throughout the development ensures that rated when designing efficient landed homes every unit will face lush landscaping and wa- that buyers appreciate,” says Ng. E The cluster houses feature high ceilings and wide windows EP44 • EDGEPROP | OCTOBER 15, 2018 EDGEPROP | OCTOBER 15, 2018 • EP45 Winners

Top Executive Condominiums

For projects completed in 2016/17, and in alphabetical order EDGEPROP | OCTOBER 15, 2018 • EP47 Top Executive Bellewoods Condominium

Bellewoods — where nature meets innovation

PICTURES: QINGJIAN REALTY | BY CECILIA CHOW |

ince entering Singapore in 1999, Qingjian Realty has carved a niche for itself as an innova- Stive developer. From its first development — an HDB De- sign, Build and Sell Scheme (DBSS) Natura Loft in Bishan — it has gone on to build a string of more than 12 executive condominiums (ECs) and private condo developments, initially in the Punggol-Sengkang area, including RiverParc, RiverSound Res- idences and River Isles, then The Visionaire in Sembawang and iNZ Residences in Choa Chu Kang. Qingjian is also the developer behind the successful launch of the 1,206-unit JadeScape on Shunfu Road. Launched at end-September, the project saw more than 300 units snapped up in one weekend. Two ECs developed by Qingjian that were launched in 2015 and fully sold and completed last year were Bellewoods in Woodlands and Belle- waters in Sengkang. For its design and innovation, Bellewoods won the Top Executive Condo award at Bellewoods is designed as a resort-style development with six zones the EdgeProp Singapore Excellence Awards 2018. The 561-unit Bellewoods has three 11-storey blocks and nine 12-storey blocks on a land area of 226,087 sq ft on Woodlands Avenue 5. It was designed by acclaimed architect ADDP Architects. Units at Bellewoods are a mix of two- to five-bedroom apartments sized from 786 to 1,549 sq ft. Se- lected three- to five-bedroom units come with the option of “Cospace”, a flexible space in an apartment that allows the owner to configure according to changing lifestyle needs. It could be used as a utility room or home office; it could also be turned into an infant room, a study or walk- in wardrobe by combining it with a bedroom. The individual spa houses in the Wellness Zone The gourmet pavilion in the Evergreen Zone for entertaining family and friends Qingjian first tested Cospace in its River Isle project and introduced it at its Ecopolitan EC development in Punggol in 2013. Qingjian has even trademarked the name “Cospace”. Units at Bellewoods are also designed to provide adequate natural ventilation and daylight, especially in wet areas such as the kitchen and bathrooms. Bellewoods was designed as a resort-style home. The facilities in the development are divided into six zones. The “Aquatic Zone” is where the floating poolside deck and the play pools are. Nearby is the clubhouse, with a gym on the first level and a barbecue terrace on the second level. Adjacent to the clubhouse The floating deck in the Aquatic Zone The double-storey clubhouse with gym and enclosed entertainment rooms are a tennis court and playground. The centrepieces of the “Urban vilion is. It even comes with a bar at Dentons Rodyk and Davidson. for classes from yoga to dance. MRT station and Causeway Point are Forest Zone” are the 50m infinity for those who want to throw parties Lee was also a judge for the Edge- Beyond the full facilities in the located at the heart of Woodlands Re- pool and a lounge. The “Wellness with evening cocktails. The “Man- Prop awards. “This project repre- condo, residents of Bellewoods enjoy gional Centre. Based on the URA Mas- Zone” is where the hydro spa beds, grove Forest Zone” is designed with sents great value for money for up- the convenience of basement park- ter Plan, Woodlands Regional Centre individual spa houses, a spa pool, meandering water canals and foot graders,” he adds. ing as well as proximity to the Ad- will be transformed into a business Jacuzzi and waterside dining pavil- paths that link all the zones together. Residents at Bellewoods will be miralty MRT station and a shopping cluster as part of the future North ion are located. The “Bamboo Forest “Bellewoods’ concept is inspired able to use Qingjian’s smart app, mall called 888 Plaza. Coast Innovation Corridor. By 2019, Zone” is a quiet area with a medita- by nature, and it has landscaping in- hiLife, to book the facilities; engage Just one MRT stop away are the the Woodlands MRT station will be tion lawn nearby. tegrating all the six forest themes,” interior design, maintenance and Woodlands MRT station and Cause- an interchange station for the future Meanwhile, the “Evergreen For- observes Lee Liat Yeang, senior home cleaning services as well as way Point, one of the biggest suburban Thomson-East Coast Line and exist- est Zone” is where the Gourmet Pa- partner of the real estate practice food delivery or catering; or sign up malls in Singapore. The Woodlands ing North-South Line. E EP48 • EDGEPROP | OCTOBER 15, 2018 Top Executive Lush Acres Condominium

Lush Acres’ 100m lap pool stands out

CDL | BY CHARLENE CHIN | As energy consumption for the AgriCube is high, it draws power from both solar ener- unique feature at Lush Acres — a gy and electricity to maintain a cool tempera- 380-unit executive condominium off ture. At night, the interior of the farm is well Sengkang West Way — is its 100m lap lit. “We wanted to bring in the idea that farm- A pool. The size of the pool, uncom- ing can also be done at night,” says Alen Low, mon in most condos and ECs, is one an architect with ADDP. of the reasons the development won in the Top Lush Acres is now fully sold. The highest Executive Condominium category at the Edge- absolute price fetched at the EC was in Jan- Prop Singapore Excellence Awards this year. uary 2014, when a 1,722 sq ft, five-bedroom According to ADDP Architects, which de- unit on the 25th floor was sold for 1.28 mil- signed Lush Acres, the 100m lap pool is one lion ($740 psf), according to caveats lodged of the project’s selling features. While the pool with URA. Overall, psf prices at the project was designed with serious swimmers in mind, have ranged from $673 to $929. Lush Acres thought was also given to those who could not obtained its temporary occupation permit swim full laps. ADDP put in rest spots along in 2016. the pool, such as a sunken lounge with plush Half of the units at the EC have a verandah sofas around a central table. outside the living room. There are four units “The size of the pool gives a resort-living on every floor, two of which feature veran- vibe,” says Ong Choon Fah, CEO of proper- dahs. This design is alternated on every floor, ty consultancy Edmund Tie & Co (ET&Co). A giving an “interlocking box effect”, says Low. clubhouse with a gym, a function room and The concept was drawn from landed homes. steam rooms was also built near the pool to “In landed property, you come in through a car capitalise on the view. porch, then walk into the living room,” Low The development was designed with sus- explains. “We designed the verandahs such tainability in mind. It won the Building and that homeowners would be shielded from rain Construction Authority Green Mark (Platinum) when entering their homes,” he adds. award. Building materials that require little ET&Co’s Ong says Lush Acres has a spa- maintenance such as composite timber deck- tial layout that is well thought through. “The ing — comprising recycled plastic and organ- development is stacked up quite high, which ic fibres — were used at the common spaces frees up a lot of space for the facilities on the in the condo. grounds,” she notes. In addition, the blocks Another feature that the judges found ex- are designed with a north-south orientation ceptional was the AgriCube, a hydroponic farm to minimise heat from the sun. Each block is for residents to grow their greens. The Agri- laid out with ample distance from the others Cube was imported from Japan, in collabora- to give residents privacy. tion with Daiwa House, a Japanese construc- Lush Acres is close to schools such as Pei tion and real estate giant. Residents who wish Hwa Secondary School, an eight-minute walk to grow temperate greens can rent the space away, and Fernvale Primary School, a 12-min- PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE for a period of time, as determined by man- ute walk away. Layar LRT station, which con- agement. The farm is kept locked and only nects to Sengkang MRT station on the North those who have rented a space will be given East Line, is six minutes by foot from the de- the keys to access it. velopment. E

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

Lush Acres is a 380-unit executive condominium off Sengkang West Way

The clubhouse is built to capitalise on the view of the lap pool

EdgeProp Singapore Excellence Awards judges at the AgriCube, a hydroponic farm at Lush Acres Lush Acres’ 100m lap pool is one of its selling features, according to ADDP Architects Winners

Value Creation

For projects completed in 2016/17 EP50 • EDGEPROP | OCTOBER 15, 2018 Coco Palms | The Panorama | Urban Vista Value Creation

Best developments by capital appreciation and rental returns

| BY TIMOTHY TAY | Coco Palms is a 99-year leasehold condomin- The average price of units at the devel- 12th floor. The unit was bought for $1.32 he EdgeProp Value Creation Award aims ium by Singapore-listed property giant City opment on the secondary market, including million ($1,378 psf) in 2014 and fetched to recognise property developments that Developments Ltd. The 944-unit develop- sub-sale transactions, is $1,228 psf, compared $1.75 million ($1,387 psf) when it was sold have rewarded homebuyers in terms of ment was completed this year and is locat- with the developer’s average selling price of in June this year. The seller walked away Tcapital appreciation and rental returns ed on Pasir Ris Grove, off Pasir Ris Drive 1 $1,025 psf. This means the average capital with a 33% profit, or $431,000. on their properties. The developments in District 18. The development is just 200m appreciation of a resale unit is 19.8%. All The estimated gross rental yield at Coco are judged on the following criteria: from Pasir Ris MRT station on the East-West secondary market sales at Coco Palms have Palms over the period in review is 3.59%, Capital appreciation: This is the differ- line. Next to the MRT station is the White been sub-sale transactions so far this year. based on an average monthly rent of $3.07 ence between the developer’s average sell- Sands mall. The most profitable transaction was that psf, compared with the developer’s average ing price and the average price achieved on The condo is also close to the Pasir Ris of a 1,378 sq ft, four-bedroom unit on the selling price of $1,025 psf. the secondary market, from January 2016 to Town Park and is connected to several park June 2018. We considered both resale and and bicycle connectors in the neighbourhood. sub-sale transactions in our computation, Nearby schools include Elias Park Primary but excluded projects with less than five re- School, Coral Primary School, Meridian Sec- sale transactions. ondary School and Meridian Junior College. Rental yield: We calculated the average The condo was launched in May 2014 monthly rent psf from 3Q2017 to 2Q2018 and and is 95% sold so far, according to URA compared it with the developer’s average psf caveats. Prices at Coco Palms have ranged selling price. The computation excludes pro- from $483,750 ($1,045 psf) for a 463 sq ft, jects with less than five resale transactions in one-bedroom unit that was sold at launch the period in review. to $2.8 million ($1,191 psf) for a 2,325 sq ft, The following are the winning develop- penthouse unit that was sold in July this year. ments in this award category. E

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The 944-unit Coco Palms by City Developments Ltd was completed this year and the average capital appreciation of a resale unit is 19.8%

Units at The Panorama have an estimated yield of 4.03%, with the average monthly rent at $4.22 psf

Resale units at the 582-unit Urban Vista recorded capital appreciation of 20.5%, the highest Located in Ang Mo Kio in District 20, The ($1,265 psf) for a 2,411 sq ft penthouse sold among all the condos reviewed this year Panorama is a 99-year leasehold condo by in December 2016. Wheelock Properties. The development’s Based on our computation, units at The Just like the other two condos that came selling price of $1,206 psf. main appeal is its location in a mature res- Panorama have an estimated rental yield of in tops in this year’s EdgeProp Value Crea- The most profitable transaction at Urban idential estate of landed private homes and 4.03%. The average monthly rent is $4.22 tion award category, the 99-year leasehold Vista was that of a 549 sq ft, two-bedroom HDB estates, and its proximity to schools. psf while the developer’s average selling condo Urban Vista is near an MRT station. unit on the second floor. It was sold for The condo on Ang Mo Kio Avenue 2 is price was $1,256 psf. The 582-unit condo on Tanah Merah Ke- $825,000 ($1,503 psf) on April 5 this year. just beside CHIJ St Nicholas Girls’ School The most profitable transaction at The Pan- chil Link, off New Upper Changi Road in The seller had bought it for $770,196 ($1,403 and 250m from the upcoming Mayflower orama so far this year was that of a 1,324 sq District 16, is just beside the Tanah Merah psf) from the developer when the condo was MRT station on the Thomson-East Coast ft, four-bedroom unit on the 16th floor that MRT station on the East-West line. launched in 2013. The seller reaped a profit line. Other nearby schools include Ang Mo fetched $1.95 million ($1,473 psf) on March Urban Vista was jointly developed by of $54,804, or 7%, from the sale. Kio Primary School, Mayflower Secondary 15. The seller had bought the unit from the Fragrance Group and World Class Land, Resale prices at Urban Vista have ranged School, Yio Chu Kang Secondary School and developer for $1.64 million ($1,239 psf) in the property arm of Aspial Corp. The con- from $878,000 ($1,599 psf) for a 549 sq ft, Anderson Junior College. August 2014. The seller thus walked away do was launched in 2013 and completed two-bedder sold in January this year to $1.1 Launched in 2014 and completed in 2017, with a profit of $309,504, or 19%. in 2016. On average, resale units at Urban million ($1,294 psf) for an 850 sq ft, three-bed- the 698-unit condo is fully sold. Units com- We estimate that during the period in re- Vista saw a 20.5% capital appreciation, room unit sold in June. The average rental prise a mix of one- to five-bedders between view, a resale unit on the secondary mar- the highest among all the condos we re- yield at Urban Vista is 3.98%, based on an 431 and 1,561 sq ft, and six penthouses of ket saw an average capital appreciation of viewed. This is based on the average psf average monthly rent of $4 psf during the 1,787 to 2,411 sq ft. Prices have ranged from 15.4%, based on an average resale price of price of $1,454 achieved on the second- period in review and the developer’s aver- $564,000 ($1,310 psf) for a 431 sq ft, one-bed- $1,450 psf and the developer’s average sell- ary market and the developer’s average age selling price of $1,206 psf. room unit sold at launch, to $3.05 million ing price of $1,256 psf. Winner

People’s Choice

For projects completed in 2016/17 EP52 • EDGEPROP | OCTOBER 15, 2018 DUO Residences People’s Choice

PICTURES: SAMUEL ISAAC CHUA/ THE EDGE SINGAPORE DUO Residences — iconic and popular

| BY BONG XIN YING | Designed by Ole Scheeren, principal architect of Büro Ole Scheeren, DUO’s twin towers t the EdgeProp Singapore Excel- span a total gross floor area of 1.73 million lence Awards 2018, an award was sq ft. While the residential tower houses 660 reserved for the audience of Edge- units, the other 39-storey DUO Tower compris- Aprop.sg to decide on a winner, via es Grade-A offices, and a 342-room luxury ho- an online voting system. Over the tel by Andaz Singapore. In a March interview one-month voting period from July 23 to Aug with EdgeProp, Scheeren describes DUO as “a 23, 4,354 votes were cast for the 42 shortlisted radical break from most architecture that has projects. Taking the prize for People’s Choice been conceived”. In Singapore, Scheeren also was DUO Residences, which accounted for designed The Interlace, a residential develop- 10% of the total votes received. ment on Alexandra Road that was named “World DUO’s 49-storey residential tower, com- Building of the Year” in 2015 at the World Ar- pleted last year by M+S, is situated in the chitecture Festival. Elsewhere in Asia, he de- heart of Bugis. M+S is a joint-venture com- signed the iconic CCTV Headquarters and the pany between the Malaysian and Singapore Guardian Art Center cultural complex, both sovereign wealth funds, Khazanah Nasion- located in Beijing. In Bangkok, Scheeren is al and Temasek Holdings, respectively. With behind the 77-storey MahaNakhon skyscrap- an iconic building design that redefines the er, which is the tallest building in Thailand. city’s skyline, DUO is the largest integrated The units at DUO Residences range from development in Bugis and forms part of a studios that start at 420 sq ft, to four-bedroom vibrant mixed-use cluster within the Ophir- units sized from 1,927 sq ft. It also has six pent- Rochor corridor. houses that range from 2,390 to 4,392 sq ft. DUO Residences was launched in November 2013, and its units fetched an average price of $2,032 psf as at Oct 8, according to URA data. The DUO towers have a composite honeycomb exterior. The hexagonal pattern is carved into sweeping concave shapes on the façade, functioning as sunshades. They capture and channel wind flows through and across the buildings. The development incorporates an energy-efficient design and naturally ven- tilated spaces. All these elements earned a The 49-storey DUO Residences in Bugis is a crowd favourite Green Mark Platinum rating for DUO Tower and DUO Galleria, and a Green Mark Gold Plus rating for DUO Residences and the hotel in the BCA Awards 2013. DUO Galleria features retail and F&B outlets. Residents at DUO Residences can have their pick of eateries ranging from Peruvian restaurant Tono Cevicheria to So France gourmet grocery and bistro. Furthermore, DUO’s plaza, which has leisure zones and gardens, is accessible to the public 24 hours a day. The entire development is linked to Bugis MRT station, an interchange for the Downtown and East-West lines. DUO’s design, features and accessibility bear out Scheeren’s belief that “architecture is not built to be built, it’s built to live”, and The honeycomb façade is part of DUO’s charm have captured the hearts of many. E

DUO Residences has a good mix of unit types, and is almost fully sold

Scheeren: DUO is a radical break from most architecture that has been conceived The extensive view of Bugis and the Central Business District from one of DUO’s towers Winners

Top Developer

(in alphabetical order) EP54 • EDGEPROP | OCTOBER 15, 2018 City Developments Ltd Top Developer

Kwek on CDL’s journey of renewal and transformation

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CECILIA CHOW | As part of CDL’s transformation, he wants to create a more sustainable business mod- herman Kwek’s first 10 months as group el. Towards that end, new divisions ranging CEO of City Developments Ltd (CDL) from fund management, venture capital and has been full of ups and downs, “akin innovation were set up. An Enterprise Innova- Sto a roller-coaster ride”. He adds: “You tion Committee comprising “our youngest and never know what’s around each corner brightest staff” has been created to focus on and just when you think the ride is smooth, “finding ways to deliver a superior and unique there is a sharp curve or stomach-twisting loop experience to customers”, he adds. when you least expect it!” This was despite the mental preparation since Property cooling measures August last year when it was announced that the biggest market disruptor he would be taking over as CEO from Jan 1, While CDL has made some headway in imple- 2018. He had even come up with a roadmap menting its plans, the property industry was to hit the ground running. derailed by the unexpected slew of property On Oct 3, CDL won in the Top Developer cooling measures announced on July 5. “The category at the EdgeProp Singapore Excellence measures disrupted sentiment in the proper- Awards 2018. As a third-generation chief of a ty market while capital markets continue to sprawling real estate business with an illus- reel from macroeconomic concerns, including trious history spanning more than 55 years global trade tensions, rising interest rates and and a market capitalisation of close to $9 bil- currency crises,” observes Kwek. lion, the 42-year-old Kwek is determined to Many industry players consider the recent prove himself. cooling measures particularly harsh. “The gov- “We cannot rest on our laurels,” he says. ernment’s strong intervention at such an early “A lot needs to be done, especially in this day stage [of] the recovery cycle was very unex- and age of disruption and innovation. We must pected,” Kwek says. “Prices may have gone up constantly strengthen, transform and even re- 9.1% over four quarters starting from 2Q2017, invent ourselves to stay relevant.” but they fell close to 12% over 15 consecutive At the start of his tenure in January, Kwek quarters before the recent rise.” declared to the entire organisation his mani- The hike in additional buyer’s stamp duty festo: “A journey of renewal and transforma- (ABSD), coupled with the implementation of tion.” He even crafted a three-pronged strategy the total debt servicing ratio (TDSR) frame- with the acronym GET: Growth, Enhancement work in 2013, had already taken their toll on and Transformation. the property market from 2H2013 to 1H2017. CDL’s Singapore corporate office has 392 “The [TDSR] was not an easy pill for the mar- staff today, according to the company’s 2018 ket to swallow and one would have assumed integrated sustainability report. “As a compa- that it was effective in keeping overall house- ny becomes bigger in size, there are bound to hold debt in check,” says Kwek. be some growing pains,” Kwek admits. “These Leverage, however, continues to be an is- three elements — good teamwork, execution and sue. “Aside from significantly hiking the ABSD, innovation — start to really suffer. Consistent the recent cooling measures also reduced the with human nature, change is something that loan-to-value ratio across the board for all people are very resistant to and many would purchasers, including first-time homebuyers,” rather stay in their comfort zone, hence stifling Kwek observes. the innovation that is urgently required in the ABSD for developers was increased from face of such rapid evolution and disruption.” Kwek: Change is something that people are very resistant to and many would rather stay in their comfort zone 15% to 25% from July. On top of that, developers have to pay 5% ABSD upfront when ac- Replenishing landbank The sites are also spread across different tained planning approval for redevelopment quiring land, and that amount is non-remit- Kwek intends to grow the group’s existing prop- regions — from the East to Central and the into a nine-storey building of over 72,000 sq table. Yet, the five-year time frame to develop erty development and asset management busi- West. “We have been very selective and see ft in NLA. A third office acquisition in Lon- and sell all the units remains. nesses. “We were almost out of landbank last great potential in our sites, which have excel- don is underway. In the 12 months leading up to the meas- year and I made it my priority to strategically lent locational attributes,” notes Kwek. For in- “In the past, we had been too dependent ures in July, land prices soared to “dizzying replenish our landbank, especially in our do- stance, the Sengkang Central site that CDL and on our development income, which is prone heights” and put significant pressure on de- mestic market,” he says. CapitaLand jointly acquired is adjacent to the to big fluctuations,” Kwek explains. “It’s time velopers bidding for land, observes Kwek. “In Last year, CDL acquired two land parcels Buangkok MRT station. to really build up our recurring income now.” turn, these high land prices translate into es- for $1.28 billion: A site on Tampines Avenue calating housing prices, which are not desira- 10 was purchased in a government land ten- Overseas investments, Asset and fund management ble for [buyers] and pose a significant concern der in April; and Amber Park in an en bloc recurring income As part of his enhancement strategy, a new for the government as prices run ahead of eco- deal in October. CDL embarked on an overseas diversification asset management structure has been put in nomic fundamentals. However, if you trace the This year, four sites were purchased in gov- strategy in 2010, starting with China, followed place, led by Yvonne Ong, who took on the problem to its source, part of the issue stems ernment land tenders for a total of $1.97 bil- by the UK in 2013, Japan a year later and Aus- role of CEO of commercial and head of CDL’s from the ABSD measure, which heavily penal- lion. The first two sites — on Handy Road and tralia in 2015. “We will continue to boost our asset management division in June this year. ises developers if they do not complete con- West Coast Vale — were acquired at end-Jan- presence in these markets and look at new The group had closed the original 97-apart- struction and fully sell every single unit within uary. An executive condominium (EC) site markets with strong potential,” says Kwek. ment Le Grove Serviced Residence. After a $30 a period of five years from land acquisition.” on Sumang Walk in Punggol was purchased Beyond the hotels under its subsidiary Mil- million refurbishment, the property opened in in February and a mixed-use commercial and lennium & Copthorne, CDL has also acceler- mid-July with 173 apartments. Developers ‘forced through residential site at Sengkang Central was jointly ated its acquisition of properties with recur- CDL is in the midst of a $70 million asset a narrow funnel’ purchased with CapitaLand in August. ring income. enhancement exercise for its flagship Republic While the intention is to prevent developers According to Kwek, the sites will provide a In China, CDL acquired a 32,000 sq m Plaza office tower that is on track to be com- from hoarding land, Kwek says an unintended pipeline of around 3,300 units for the next few (344,400 sq ft) office project — now called pleted by 2H2019. It includes revamping the consequence is that “all developers are forced years. The figure excludes the 861-unit The Hong Leong Plaza — in Shanghai’s Huangqiao main lobby and lift lobbies, adding restrooms through a narrow funnel to build and sell in Tapestry at Tampines, which has already been district for RMB890 million in February 2017. and upgrading the existing ones. The retail a short timeframe”. launched. However, it includes the 190 units This year, CDL acquired another prime office space will be enhanced to provide better pe- As a result, developers are prevented from at South Beach Residences, which was soft- building in the Yaojiang International complex destrian flow and visibility, with new mechan- timing their launches. “Even when market sen- launched last month; and Boulevard 88, a mixed- in Shanghai for RMB148 million ($29.6 mil- ical and electrical installation to facilitate more timent is depressed, they have no choice but to use development with 154 residential units and lion). In Suzhou, it opened the Hong Leong F&B offerings. Plans are underway to create a start sales for new projects,” Kwek says. “They 204 hotel rooms that has yet to be launched. City Centre mall in June 2018. new retail cluster at Level 2 of Republic Pla- end up developing, selling and handing over units “For the Singapore residential market, we In the UK, CDL acquired Aldgate House, an za through conversion of some of the existing within a similar time frame, causing many of tried to be strategic in our land acquisitions office building with 210,000 sq ft of net lettable car-park spaces. them to run out of land at around the same time.” and put in place a diversified landbank that area in London for $328.5 million last month. “The group will continue to review its as- Kwek observes that developers without land- caters for all segments of the market, includ- In 2016, CDL had purchased the prime free- set portfolio and find ways to enhance, reposi- banks are unlikely to be in business for long. ing ECs and mass-market, mid-tier and high- hold, 28,0000 sq ft Development House of- tion or redevelop the properties to drive great- “It is no wonder that developers who are in ur- end offerings,” says Kwek. fice building in Shoreditch. The site has ob- er value,” says Kwek. gent need of land replacement have had to bid EDGEPROP | OCTOBER 15, 2018 • EP55 City Developments Ltd Top Developer

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE ferociously to obtain new land, be it via government land sales or private en bloc treaties.” At South Beach Residences, about 10 Kwek understands the rationale behind the units were sold at private previews ABSD: to caution developers and buyers as well last month, including the penthouse as moderate land prices by attaching hefty pen- for $26 million ($3,864 psf) alties for unsold units. “Unfortunately, the fear of running out of ‘raw materials’, or land, ulti- mately outweighs the fear of penalties and this causes developers to bid aggressively for land,” he adds. “This can cause land prices to spiral to unsustainable levels, something which developers also do not want to see happen. I am not saying that the five-year ABSD restriction is the only reason for high land prices, but it is certainly a significant contributing factor.”

Luxury segment worst hit The recent measures will hit the luxury residential segment the hardest, reckons Kwek. “We saw a slower take-up rate at our South Beach Residences soft launch than would oth- erwise be the case,” he says. It was reported that South Beach Residences sold about 10 units at private previews last month, including the super penthouse, for $26 million ($3,864 psf). For New Futura, Kwek says, “We are fortunate to have launched the project in January and are now over 80% sold.” Even after the recent measures came into effect, New Futura has continued to see strong sales, and maintained its average selling price of above $3,500 PICTURES: CITY DEVELOPMENTS psf for the second phase. Kwek attributes this to “the ultra-luxurious and unique product that we have created”. The project picked up the Top Development award at the EdgeProp Sin- gapore Excellence Awards on Oct 3. “The development’s iconic design and freehold nature likely swayed many buyers into accepting the onerous ABSD implications. However, it is unlikely that we will see this happening across the board for other luxury developments,” Kwek points out. The mass- to mid-market segments have seen a slowdown in sales volume too since the property cooling measures came into effect. “But high-quality, well-located projects such as The Tapestry will still be able to maintain a steady stream of sales,” says Kwek. “The buyers of these projects tend to be mostly Singapore citizens and permanent residents purchasing their first property, so the majority are unaffected by the ABSD rul- ing, although some may struggle, owing to the reduced loan quantum.” According to caveats lodged as at Oct 8, 530 The Teddington Riverside project in London, launched in Singapore this month, occupies out of 550 units launched in March at the 861- the site of the former Teddington Studios that CDL purchased in 2015 unit The Tapestry had been sold, at an average price of $1,531 psf. The 124-unit New Futura is 80% sold so far, with New launches units in the second phase priced above $3,500 psf CDL is planning to launch Whistler Grand, its new project on the site of West Coast Vale, The new development at Teddington River- ment and fund management, CDL intends to On Distrii, he says it has achieved “signif- before year-end. It will have 716 residential side will have 240 units — four blocks of 217 invest in start-ups that complement its core real icant scale” and now has 34 co-working loca- units and two shops. Kwek reckons demand apartments, six townhouses, two duplex apart- estate and hospitality businesses. Investments tions in China and one in Republic Plaza in for Whistler Grand will be good because of the ments and 15 affordable housing units — oc- so far include a 20% stake in mamahome, a Singapore. The 62,000 sq ft co-working space upcoming Jurong Lake District, which is being cupying a 196,022 sq ft site. Prices start from Shanghai-based online residential rental plat- at Republic Plaza, which opened in mid-May, positioned as the second CBD. “Most of the £670,000 ($1.2 million) for a one-bedroom unit, form, and a 24% stake in co-working platform is now 80%-occupied. other new projects in the West Coast area are £980,000 for a two-bedroom unit and £1.63 mil- Distrii. In July, CDL invested HK$237.81 mil- Kwek hopes to turn CDL into a more di- almost fully sold,” he says. “Buyers of mass- lion for a three-bedroom unit. lion ($42.1 million) to become a cornerstone versified property group “with greater stabil- and mid-market projects are largely first-time “Prior to our launch [of Teddington Riv- investor in the IPO of E-House, a China-based ity in earnings and wider diversification”. He homebuyers.” erside] this month, we had received encour- home services provider. adds: “Had we just remained in one or two In early May, CSC Land launched the 520- aging levels of enquiries,” says Kwek. “Hav- According to Kwek, E-House has an ex- asset classes and focused solely on our do- unit Twin Vew, located just across the street ing said that, it’s a very difficult time for the tensive network of more than 17,000 proper- mestic market, we would have suffered great- from the upcoming Whistler Grand. So far, 453 residential market in the UK, which has suf- ty agents in China. “It can be very beneficial ly during the extremely depressed years in units (87%) of the project have been sold, at fered greatly from the uncertainty surround- for our residential sales in China, Singapore Singapore’s residential market from 2014 to an average price of $1,382 psf, according to ing the whole Brexit process.” Aside from the and other investment destinations,” he says. 2017. During those difficult years, our results caveats lodged. UK and the roadshow in Singapore recently, “On top of that, E-House has a deep and ro- were greatly bolstered by our overseas sales On the weekend of Oct 6 and 7, Tedding- with Strawberry Star as the marketing agent, bust database.” as our diversification efforts bore fruit, espe- ton Riverside was launched in Singapore. The CDL intends to hold roadshows in Hong Kong Mamahome has 230,000 apartment listings cially in China.” London project occupies the site of the former and mainland China as well. across 30 cities in China and entered Singa- Singapore will, however, remain CDL’s core Teddington Studios, a big UK television studio. pore this year. “It is building up a tremendous focus. “After five decades, we are very familiar CDL had purchased the site in November 2015 Investing in start-ups, diversification rental platform that our own rental properties with the local market and we have contributed for £158 million. Besides property development, asset manage- can also benefit from,” Kwek says. much to the skyline here,” he says. E EP56 • EDGEPROP | OCTOBER 15, 2018 Far East Organization Top Developer

Far East Organization’s steady pipeline of award-winning projects

PICTURES: FAR EAST ORGANIZATION | BY BONG XIN YING | Nature Reserve and Bukit Panjang Park. It is within walking distance of t was perhaps no surprise when Cashew MRT station on the Down- Far East Organization, Singapore’s town Line and near amenities such biggest privately held property de- as HillV2, The Rail Mall, Junction 10 Iveloper, won the Top Developer and Bukit Panjang Plaza. award at this year’s EdgeProp Sin- “We remain steadfast in creating gapore Excellence Awards on Oct 3. innovative, functional spaces that will After all, it has already accumulat- improve and inspire better lives,” Tan ed a long list of accolades, including avows. For instance, the company cre- 10 FIABCI World Prix d’Excellence ated an interactive 3D model for its Awards through the years. Parksuites showflat. The model sim- But there is more — its joint-ven- ulates the layout and interior design ture (JV) projects with Frasers Property of one of the units, allowing potential and Sekisui House were among those buyers to view it from various angles that topped the EdgeProp Awards: to get a feel of the space, adds Tan. eCO bagged two awards and River- Two other smart features that Far tree Residences won three. East Organization has incorporated into Far East Organization’s track record Tan: We will continue to work hard in Parksuites are a smart parcel lock sys- has also been impressive in terms of raising the bar to create human-centric tem for every unit and a smart park- quantity. It is completing and hand- spaces that meet the aspirations of our ing system. The smart parcel lock sys- ing over more than 10,000 units from customers tem allows residents to unlock their 2015 to 2019. They include units in JV parcel cabinet remotely for the deliv- projects and range from residential, tive to the existing community and eryman to place the items inside. In office, medical and industrial units to its rich social fabric. It will offer a place of security personnel manning hotel rooms and serviced residences. wide variety of uses — residential, the entry into the development, the “Our current focus is on fulfilling our dual office/residential units, offices, smart parking system enables visitors obligations and delivering our prom- co-working spaces, retail and serviced to simply flash a QR code provided ises to customers, business partners residences. There will be communal Far East Organization led a consortium that won the bid for a mixed commercial and by the resident to enter the car park and the community,” says Augustine and green spaces to encourage social residential site on Holland Road for $1.213 billion in May and access the common areas. Tan, executive director of property ser- gatherings and community activities “As stewards of Far East Organiza- vices at Far East Organization. in the area. A new pedestrian bridge ALBERT CHUA/THE EDGE SINGAPORE tion, we will continue to work hard The group has embarked on a cus- will link Holland Village with Holland in raising the bar to create human- tomer engagement programme that Vista HDB estate, providing greater centric spaces that meet the aspira- includes customer satisfaction mea- connectivity and convenience for res- tions of our customers,” says Tan. surements and the development of a idents and patrons of F&B, retail and Far East Organization has also been service excellence blueprint to guide services in the area. acquiring land outside of Singapore. customer fulfilment across various In April, Far East Organization pre- The group has invested about A$2 operating business units, he adds. viewed its latest SOHO development, billion in Australian real estate since In May this year, a Far East Orga- Parksuites, in the neighbourhood of 2013 through direct investments and nization-led consortium won the bid Holland Grove in prime District 10. JVs with its Singapore Exchange-list- for a mixed commercial and residen- The 110-year leasehold project con- ed subsidiary, Far East Orchard. The tial site of 247,214 sq ft on Holland sists of 119 SOHO units and 18 strata properties include 227 Elizabeth Street Road. It paid $1.213 billion, or $1,888 shops. The SOHO units range from in Sydney, a 24-storey commercial psf per plot ratio (ppr), for the site one- to two-bedroom-plus-study, as building next to Hyde Park; 50 Park in a hotly contested tender awarded well as two- and three-bedroom du- Street, a 12-storey office building on a two-envelope scheme based on al-key units. There are also five units overlooking the same park; and the design and price. Far East Organiza- of four-bedroom triplexes of over 3,000 iconic The Westin Sydney at 1 Mar- tion’s two JV partners for the project sq ft. In the first phase launched, about Scale model of Parksuites, which consists of 119 SOHO units and 18 shops on tin Place, part of the redevelopment are Sekisui House and Sino Group. 16 units were sold at prices ranging Holland Grove Road of the former General Post Office. In- The site is in Holland Village, “a from $1.6 million ($2,286 psf) for a cidentally, Far East Organization’s sis- much-loved neighbourhood and a des- 700 sq ft SOHO unit to $6.84 million Green, a 999-year leasehold landed three cars. Corner units come with a ter company, Sino Land, owns Fuller- tination with a distinctive character and ($2,231 sq ft) for a triplex, according housing project in Upper Bukit Ti- private swimming pool, while inter- ton Hotel in Singapore, which is the charm”, says Tan. “Our plan is to en- to caveats lodged. The project is a mah. Nine out of 15 units in the first mediate units have a central courtyard. former General Post Office that has rich the precinct through the creation three-minute drive from Holland Vil- phase were released. The terraced Units sold to date range from $3.83 been restored and converted into a of a vibrant mixed-use development.” lage, adjacent to Henry Park Prima- houses have three storeys, five bed- million ($1,979 psf) to $3.96 million luxury hotel. He says the future development ry School and fronting Henry Park. rooms and a built-up area of 5,000 ($2,069 psf), according to caveats Beyond Sydney, Far East Organi- will build upon the identity of Hol- Last month, Far East Organization sq ft. They come with an attic and lodged. Cashew Green is near Bukit zation has invested in office build- land Village while remaining sensi- launched the first phase of Cashew a basement with private parking for Timah Nature Reserve, Bukit Batok ings in prime areas in Melbourne and Perth. Earlier this year, the developer made its first foray into Japan with Sekisui House, its longstanding partner in multiple projects in Singapore. In Osaka, where Sekisui House is headquartered, Far East Organiza- tion will be building a 14-storey hotel in the Fukushima district. It has also entered into a second hotel development project in Ariake, Tokyo, with Far East Orchard. On the group’s latest triumph, Tan says: “It is an honour to receive the Top Developer award among so many outstanding developers.” To him, it further “affirms [our] experience and expertise in developing new Nine out of 15 units in the first phase of landed housing development Cashew Green Far East Organization has poured A$2 billion into Australian real estate since 2013, and meaningful concepts, in tune with were launched last month which includes the landmark The Westin Sydney at Martin Place the needs of the community.” E EDGEPROP | OCTOBER 15, 2018 • EP57 Frasers Property Ltd Top Developer

PICTURES: FRASERS PROPERTY

Residents at the 841-unit Seaside Residences will enjoy views of the coastline

Frasers Property boasts diverse offerings

| BY CHARLENE CHIN |

ust nine months into FY2018, Frasers Property has bolstered its property development in Vietnam, waltzed into J the co-working business with JustCo, and shored up support for its logistics and industrial functions in Europe and Thai- land. Now, it has added another feather to its cap — on Oct 3, it was named Top Devel- oper at this year’s EdgeProp Singapore Ex- cellence Awards. Over the years, Frasers Property has built more than 20,000 homes in Singapore. Among its developments is Seaside Residences, an 841- unit condo in the Siglap neighbourhood. The residential units are spread across two 27-storey towers, orientated to avoid the harshest of Tang says Seaside Residences offers residents the sun rays and give residents the “best panoramic ‘best panoramic sea views’ The pool facility at Seaside Residences sea views”, says Christopher Tang, CEO of SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Frasers Property. The two towers are connect- Office space and co-working ed by a sky terrace that also serves as a com- Aside from its residential business, Frasers munity space for residents. continues to expand in the commercial space. Seaside Residences won the BCA Green Frasers Tower, a Grade-A office tower in Sin- Mark GoldPlus Award this year for its choice gapore’s CBD, has secured a committed office of environmentally friendly products. The de- occupancy rate of about 80%, as highlight- veloper included energy-efficient features for ed in its 3QFY2018 financial results released air-conditioning and lifts, as well as charging in August. Anchor tenants include Microsoft stations for electric cars. Singapore, and French oil and gas juggernaut Launched in April last year, Seaside Resi- Total Oil. Other occupants include those in dences is now more than 84% sold. The condo the financial and consumer goods sectors, is jointly developed with Japan-listed Sekisui such as Sumi tomo Corp, Arup, Fonterra and House and Keong Hong Holdings, and slated Pacific Life. for completion in 2020. The development, on Cecil Street in Sin- gapore’s CBD, is 235m tall and comprises a Homes overlooking the river 38-storey office tower. It features dedicated While units at Seaside Residences were de- community zones — The Sky, The Terrace signed to have views of the sea, another project and The Park — which are “designed to en- Rivertrees Residences is orientated to offer views of the Punggol River of Frasers, Rivertrees Residences, banks on its courage interaction and collaboration among views of the Punggol River. The develop ment tower occupants”, according to Frasers. Facil- into the co-working business. Frasers and the Singapore River, the site is a “prime loca- — a joint effort with Far East Organization ities provided include foosball tables and rest- state sovereign wealth fund GIC are investing tion that has created many meaningful mem- and Sekisui House — was laid out such that ing pods. Meanwhile, an adjacent three-storey US$177 million ($245 million) in co-working ories for [Singaporeans]”, says Tang. URA more than 90% of the units could enjoy views retail podium houses F&B operators such as space provider JustCo. This will enable the lat- announced that the land was up for sale last of the river. For the development, Frasers en- Cedele. The office space received its Tempo- ter to expand its presence in Singapore, Indo- December, and Frasers beat nine others for the sured that the landscape design blended in rary Occupation Permit in May and has a to- nesia and Thailand. site, submitting the highest bid of $955.4 mil- well with the natural terrain and environment, tal net lettable area of 663,000 sq ft. lion, or $1,733 psf per plot ratio. Tang explains. Frasers Towers also won the BCA Green Looking ahead Frasers will design and develop the site, tak- The 495-condo, off Sengkang West Ave- Mark Platinum title for practices in sustaina- In 1H2019, Frasers is expected to launch its in- ing into account its waterfront location and the nue, incorporated sustainable features, says bility. The greenery at the development is ir- tegrated development on Jiak Kim Street, the elements of its “strong local heritage”, Tang Tang. These include high-floor balconies and rigated by recycled water. The building, too, former site for iconic club Zouk, which was says. “We are confident that, with our exper- full-height glass façades, which promote ven- is equipped with systems that optimise energy voted top 3 in the World’s Top 100 Clubs. The tise, it will be a unique space and destination tilation and enable natural lighting for every usage and improve indoor air quality. property can yield 500 residential units, accord- that will appeal to both local and overseas [tar- unit in the development. In May, Frasers announced its expansion ing to the developer. Located on the banks of get] audiences.” E EP58 • EDGEPROP | OCTOBER 15, 2018 GuocoLand (Singapore) Top Developer

GuocoLand’s Cheng vindicated as Wallich Residence, Martin Modern break new ground in luxury living

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CECILIA CHOW | jong Pagar Centre into a business hub. It was thus important that the hotel or Cheng Hsing Yao, group man- be a recognised international, five- aging director of GuocoLand star brand like Sofitel Singapore City Singapore, what is more satis- Centre, which comes with offerings Ffying than the many accolades such as a café, lounge, coffee place, that Tanjong Pagar Centre has bar, restaurants, meeting rooms and received is the fact that the integrated a grand ballroom. “The hotel is an development has become both a physi- important element that supports the cal and social landmark in Tanjong Pa- entire offering,” says Cheng. “Beyond gar. “We said we wanted to transform our corporate tenants at Guoco Tower, the district and we did,” he says. “It the hotel serves a greater purpose — has even exceeded our expectations.” for MICE activities and as a gathering Prior to the $3.2 billion Tanjong place for businessmen and profession- Pagar Centre, there was no Grade-A als from around the CBD.” office space nor five-star hotel of- Tanjong Pagar Centre is Guoco- fering in the district. Tanjong Pagar Land’s flagship property and houses Cente delivered a Grade-A skyscraper the group’s headquarters. Wallich in the form of the 38-storey Guoco Residence sits on top of Guoco Tower Tower and the luxury 223-room Sofitel and spans the 39th to 64th floors. Singapore City Centre. Perched on The 280m tower has earned Tanjong top of Guoco Tower is also a luxury Pagar Centre the title of “tallest sky- residential offering, the 181-unit scraper in Singapore”. Wallich Residence. For GuocoLand, Wallich Residence The project won six awards and is not just another residential pro- GuocoLand garnered the title of Top ject but represents “the pinnacle of Developer at the EdgeProp Singapore Tanjong Pagar Centre”, says Cheng. Excellence Awards 2018 on Oct 3. Experiencing the views from the fa- It is no surprise that Cheng recently cilities deck on the 39th floor of Wal- came across property advertisements lich Residence is equivalent to being for office space for sale in the Cecil on top of a mountain or a 50-storey Street and Robinson Road area in the building. “You have sky gardens, CBD claiming to be part of Tanjong amazing views, a prestigious address Pagar. “Obviously, people see val- and exclusivity,” he adds. “It’s more ue in the association now,” he says. than just a luxury residence. It’s ex- It was not always the case. In clusive and yet connected: The lift January 2016, at Guoco Tower’s brings you to the MRT station or to topping-out ceremony, only 10% of the offices at Guoco Tower, or you the 890,000 sq ft office space was can walk over to the lounge at Sofitel. pre-committed. When the tower was It’s a different form of luxury living.” completed 10 months later, the take- Typical apartments at the 181-unit up rate had soared to 80%. Today, it Wallich Residence range from one- to is almost 100%. four-bedroom units sized from 614 “A large proportion of the compa- to 2,034 sq ft. The tower is topped nies that are tenants of Guoco Tower by four penthouses spanning the today are tech companies and oth- 58th to 61st floors with sizes from ers who had the vision to move into 3,509 sq ft, and a super penthouse an area that wasn’t tried and tested of 21,108 sq ft occupying the 63rd then,” Cheng says. and 64th floors. Tanjong Pagar was always a his- torical area, but close to a decade ‘Crazy Rich Asian’ product Cheng: We said we wanted to transform the district and we did. It has even exceeded our expectations. ago, it lacked a strong positioning, So far, one of the penthouses has he adds. As part of URA’s plan to changed hands — a 3,530 sq ft, transform Tanjong Pagar, the stat- four-bedroom simplex on the 58th utory board launched the sale of a floor. It was sold for $16 million and, prime, white site in the heart of the at $4,560 psf, it set a new bench- district in 2010. mark for luxury residential property in the CBD, including Marina Bay. Community, business hub The 21,108 sq ft super penthouse car- GuocoLand won the tender for the ries a price tag of $100 million and white site with a bid of $1.708 bil- has yet to be released. “It’s a ‘Crazy lion in 2011. URA’s tender called for Rich Asian’ product, and we believe a public space of at least 1,000 sq m there’s a market for it,” says Cheng. (10,764 sq ft) and a retail podium Besides Tanjong Pagar Centre, the sitting on top of the Tanjong Pagar other project that has won numerous MRT station. “That would have made awards for GuocoLand was Martin the most commercial sense,” says Modern. More than two years ago, the Cheng. “But we went above and be- company paid $595.1 million for the yond the URA requirement to create 1.6ha site at Martin Place in a govern- a 150,000 sq ft urban park. We want- ment land tender. The price translated to create a community hub to en- ed into $1,239 psf per plot ratio (ppr). gage everyone in the Tanjong Pagar “In hindsight, the price isn’t so high,” neighbourhood.” he says. “Back then, it was the high- Beyond a community hub, Guoco- est. Still, it wasn’t a reckless move. We Tanjong Pagar Centre is GuocoLand’s flagship property and houses the group’s headquarters Land’s ambition was also to turn Tan- were convinced about the site, its lo- EDGEPROP | OCTOBER 15, 2018 • EP59 GuocoLand (Singapore) Top Developer

PICTURES: GUOCOLAND

Wallich Residence represents ‘the pinnacle of Tanjong Pagar Centre’

GuocoLand provided for a 150,000 sq ft urban park with a glass-canopied ‘City Room’ to be turned into a community hub Lobby of the Sofitel Singapore City Centre. The hotel supports the other offerings of the integrated development at Tanjong Pagar City Centre. cation, connectivity and exclusivity.” its appointed architects to create “a tects, in collaboration with Tang Kok a 1,399 sq ft unit on the 28th floor saw puzzle in the Beach Road area While others baulked at the price, project that was special and that we Thye, senior principal architect of of the other tower that was sold at and it will connect all the other major GuocoLand remained quietly confi- could be proud of”, he adds. ADDP Architects. “We wanted to cre- $3,020 psf, according to a caveat developments there. It will really dent. According to Cheng, there has The developer therefore decided to ate something new in the market,” lodged in September. transform the area.” been no government land site for res- have just two towers instead of three says Cheng. “We looked into every Martin Modern has, therefore, set In March, GuocoLand and Hong idential development offered in the on the site, freeing up the grounds detail, as we wanted to get the orien- a new price threshold for the Mar- Leong Group purchased Pacific Man- prime District 9 neighbourhood for for landscaping. There are also “se- tation and layout of the units right to tin Road neighbourhood. Still, Cheng sion at River Valley Close in prime Dis- many years. The site is located with- cret gardens” on the rooftops of the ensure that every unit has a view.” says: “We’re not out to set benchmark trict 9 for $980 million ($1,987 psf ppr) in a five-minute walk of the upcom- two 30-storey towers. When the project was launched prices. Our focus is on the product.” in the biggest collective sale this year. ing Great World MRT station and also in July last year, the average price In July, GuocoLand paid $319.88 just across the road from the bars, Space and gardens of units sold was initially in the re- Prime products million for Casa Meyfort on Meyer restaurants and cafés at Robertson “District 9 is a prime location and gion of $2,200 psf. Despite the latest Over the past 12 months, GuocoLand Road. “Meyer Road is the most prime Quay that front the Singapore River. very built up,” says Cheng. “What’s round of property cooling measures has purchased three prime sites. In address in District 15, and this site has “It’s the best of both worlds — rare in the area is space and greenery. that took effect from July 6, units September, it purchased a 99-year unobstructed views of both the sea being close enough to all the amen- That motivated us to create a home sold have averaged $2,757 psf from leasehold commercial site on Beach and landed housing estate,” Cheng ities and yet away from the noise, as within a Botanic Gardens setting.” July to September. There were even Road with Guoco Group for $1.62 says. “Our philosophy is to go for the Martin Place area is quiet and ex- That led to many rounds of re- two transactions that crossed the billion. “There are a lot of similari- sites where we see great potential clusive,” says Cheng. The fact that visions to the plans of the 450-unit $3,000 psf threshold: a 1,798 sq ft, ties between the Beach Road site and and where we believe we can create the site was large enough and un- Martin Modern by its appointed ar- four-bedroom unit on the 28th floor Tanjong Pagar Centre,” says Cheng. a strong product. It just so happens dulating allowed the developer and chitects, Yip Yuen Hong of ip:li Archi- that fetched $3,138 psf in August and “Our site is the last piece of the jig- that a lot of them are prime sites.” E EP60 • EDGEPROP | OCTOBER 15, 2018 M+S Pte Ltd Top Developer

M+S enhances work-live-play lifestyle

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

+S is 60% owned by Khazanah Nasional and 40% by Temasek Holdings, and was set up in 2011 Mto develop two mega integrated developments in Singapore — Marina One in the Marina Bay Financial District, and DUO in downtown Bugis. The company was named one of the recipients of the Top Devel- oper Award for its development and management of Marina One and DUO, at the EdgeProp Singapore Excellence Awards 2018 on Oct 3. Marina One comprises two residential towers with 1,042 luxury units, 1.88 million sq ft of Grade A office space in two office towers, and a 140,000 sq ft retail podium. DUO is located beside the Bugis MRT station and comprises one residential tower — the 660-unit DUO Residences — and a second tower consisting of 20 floors of Grade A office space spanning 570,000 sq ft, as well as the five-star, 342-room Andaz Singapore hotel by Hyatt. Both developments were completed last year and have become iconic architectural developments in their respective areas, says Kemmy Tan, CEO of M+S. Beyond that, she is hap- py that a community has begun to develop around both developments, comprising residents, office workers, and weekend shoppers. M+S is behind the development of the integrated developments DUO (above) and Marina One The wide variety of retail and entertainment M+S options available in Marina One and DUO has transformed the way office tenants and residents work, live, and play, as they spend most of their time in and around the developments throughout the day without having to step out. Following the completion of the integrated developments, M+S is now fully focused on stabilising the operations of the various residential, retail, and office components, and op- timising their commercial value, says Tan. Only a handful of residential units at DUO remain unsold, while the office space is almost entire- ly committed. The Andaz Singapore hotel has also seen its occupancy increase, and the retail podium has become a dining destination in the area. At Marina One, 90% of the office After work, many office workers enjoy activities held in communal spaces at space has been committed and 80% of the re- The four-bedroom show unit at DUO Residences Marina One, such as yoga classes in the Green Heart tail space leased, while more than half of the residential units are sold. Both projects have meetings in the shared spaces such as the hotel “exceeded expectations”, she says. lounge at Andaz in DUO, and the Green Heart “We are now able to devote more time and at Marina One, Tan adds. The Green Heart is a resources towards enriching the well-being, life- verdant sanctuary surrounded by the tall build- style and experience of our community,” says ings within Marina One, and has a waterfall and Tan. This will be done through placemaking reflecting pool. After work, many also enjoy en- efforts such as organising activities, partici- tertainment and activities held in the commu- pating in district-wide events, and champion- nal spaces, such as yoga classes in the Green ing social and environmental causes. M+S is Heart, or an outdoor movie at DUO’s plaza. playing its part in ground-up urban placemak- “Residents are truly experiencing the lifestyle of ing efforts, and is one of the major stakehold- an integrated development,” says Tan of M+S. ers in URA’s pilot Business Improvement Dis- Buyers and tenants have responded posi- trict programme for the Marina Bay district. tively to the projects despite the latest prop- Announced on Sept 18, this programme en- erty cooling measures implemented in July. courages stakeholders like corporations and The timing of the measures was a surprise, community members to take an active role Tan says, as she feels that buying momentum in transforming districts and activating pub- in the property had been gradually picking up lic spaces. since 3Q2017. “But the measures will ensure In the Marina Bay area, where Marina One the long-term stability of the market for own- is located, M+S is collaborating with seven er-occupiers,” she says. Since the measures other stakeholders to organise heritage trails, M+S will do more to foster the community bonds within our developments, so that residents can truly mainly target the investor segment, Tan adds and arts and fitness activities. They will also experience the lifestyle of an integrated development, says Tan that these buyers will become more “astute”, set up regular pop-up stalls and hold activities and will seek out properties with “bankable at public spaces within the development such to connect Marina One and DUO. It engaged tors to the office buildings, as they will be au- attributes” like a prime address, ready pool of as The Promontory and The Lawn to enhance Habitap to develop a proprietary application thorised by the office owners or tenants with a tenants and limited supply in the short to me- the area’s vibrancy and attract crowds to the called MySphere, which allows office tenants code on their smartphone to access the securi- dium term in the area, as well as good acces- district in the evenings. Other joint efforts in- and residents to not only book facilities in their ty gantries. Other features include contacting sibility and transport links. clude enhancing the pedestrian connectivity own development, but in the other as well. For maintenance staff or the concierge service at While M+S’s accomplishments have been between developments in the area through bet- example, office tenants at Marina One can use the respective developments, as well as mak- recognised by the EdgeProp award, Tan says ter wayfinding signs, as well as implementing the app to book a meeting room or ballroom ing reservations at any restaurant in DUO or “we can do, and will do, more to foster the joint marketing platforms among stakeholders. at Andaz Singapore in DUO. Likewise, office Marina One. community bonds within our developments, The developer is also improving the qual- tenants at DUO can use it to book the audito- Many office workers in both developments so that residents [and office tenants] can tru- ity of service it offers tenants and residents rium at Marina One. have lunch in the various F&B outlets within ly experience the lifestyle of an integrated de- by utilising the latest property technologies The app also makes it convenient for visi- the developments. They also frequently hold velopment”. E Winners

Top Property Marketing Agency

(in alphabetical order) EP62 • EDGEPROP | OCTOBER 15, 2018 Marketing Agency ERA Realty Excellence

ERA expands in Singapore and abroad

ALBERT CHUA/THE EDGE SINGAPORE | BY BONG XIN YING | er brokerage income from the re- erty agent statistics as well as prop- sale and rental of properties ($153.9 erty information.” wo successive collaborations million) and from new home sales When the property cooling meas- last month saw ERA Real- ($68.5 million). ures were announced on July 5, ERA ty Network boost its sales ERA clinched the Marketing Agen- was the first agency to update its Tforce from 6,210 agents to cy Excellence award at this year’s property investment calculator in the 6,875 agents. Singapore’s sec- EdgeProp Singapore Excellence Awards i-ERA app with the new additional ond-largest property agency joined on Oct 3. buyer’s stamp duty and loan-to-val- forces with CBRE Realty and HSR In 1H2018, ERA achieved an ue formulas. This was done with- International Realtors in the space average income of $36,629 per sales- in 24 hours of the announcement, of a week. person, or an increase of 41% from says the firm. “We have done joint marketing 1H2017. Chua reckons the way to Chua says ERA has 200 division- with CBRE and HSR in the past,” says raise agents’ income is to invest “a al directors. The divisions vary in Jack Chua, CEO of Singapore-listed lot” in their training in order to in- size, but each has a minimum of 20 APAC Realty, the parent company crease their productivity. agents, he adds. of ERA Realty Network. “The deci- ERA has many training pro- Outside of Singapore, APAC Realty sion to collaborate was therefore a grammes in place for the agents. holds the ERA regional master fran- natural one.” The programmes have been reviewed chise rights for 17 countries in Asia-Pa- Other smaller agencies have also and improved on by its senior man- cific. It currently has a vast network approached ERA to explore the possi- agement, who are real estate veter- of more than 18,000 agents across bility of a collaboration, but “there’s ans with an average of over 18 years’ Singapore, Cambodia, Indonesia, Ja- nothing concrete yet”, says Chua. He experience. The “Ultimate Agent pan, Korea, Malaysia, Taiwan, Thai- adds: “It’s a bit like marriage; [we] Training” series, launched this year, land and Vietnam. have to go through a courtship pe- includes modules for a skills-based At end-August, APAC Realty en- riod first.” mastery programme, market-focused tered into a joint-venture agreement According to APAC Realty’s press seminars, and specialised sales and with two Chinese firms, Hainan release on Aug 7, ERA expects 10 pro- leadership empowerment camps. The Zhong Zhi Sheng He Real Estate In- jects, or 4,383 units, to be launched objective is to sharpen agents’ indus- vestment Consulting Co and Bei Guo from August to December 2018, cre- try skills and enable personal devel- Tou (Shanghai) Equity Investment ating more opportunities for ERA opment and professional excellence. and Fund Management Co. Named salespersons in 2H2018. ERA had APAC Realty said in its press release ERA Hainan Real Estate Marketing launched 15 projects in the first sev- its agents could benefit from the new Co, the new JV company will be in- en months of this year, or a total of features on the Findpropertyagents. volved in the brokerage business 8,625 units. sg website and i-ERA mobile app. and train and license property agents APAC Realty posted a net prof- “These new features help to enhance in Hainan. it of $13.6 million for 1HFY2018, the overall efficiency of the proper- Chua says APAC Realty has two up 8.7% compared with 1HFY2017. ty buying and selling process, with purposes in entering the Chinese The improvement came on the back smart algorithms to connect con- market. “We want to [operate] in of a 37.4% y-o-y increase in revenue sumers to the right property agents the Chinese market and refer our to $227.3 million. The rise in reve- quickly and accurately, providing Chinese customers to Singapore Chua reckons the way to raise agents’ income is to invest ‘a lot’ in their training in nue was largely attributed to high- users with rich knowledge of prop- properties.” E order to increase their productivity

Marketing Agency Huttons Asia Excellence

Huttons Asia — Helping agents thrive

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY BONG XIN YING | keting Agency Excellence award at says: “I can buy a company with 300 the EdgeProp Singapore Excellence agents, but that does not mean that n the night of July 5, the eve Awards 2018. they will come [to my company]. Oof the implementation of the Established in 2002, Huttons has They can go elsewhere.” latest property cooling meas- grown into a 3,400-strong team, However, he is keeping an open ures, real estate agency Huttons Asia making it the fourth-largest prop- mind on acquisitions. “We are open was in the midst of the sales fren- erty agency in Singapore. Project to like-minded people, people who zy at the launches of three proper- marketing is Hutton’s core activity, are aligned to what we do, wheth- ties — Park Colonial, Stirling Resi- but it has over time expanded into er individual agents or agencies,” dences and Riverfront Residences. other areas as well, more specifi- he says. “It was interesting to see how the cally the resale segment, such as Goh, who joined Huttons in 2013, company came together that night collective sales, retail leasing, HDB believes in providing a conducive, because it was quite sudden, [and] sales and private condominiums. supportive and caring environment our mobilisation was really fast,” The resale market makes up “quite for his agents to thrive, as well as says Goh Kee Nguan, CEO of Hut- a significant proportion” of Huttons’ giving them ample opportunities. tons Asia. business, says Goh. “In fact, just “Our main focus is people, so we More recently, Huttons was in- from the collective sales cycle, we have to make sure that they are not volved in the launches of Oxley Hold- successfully marketed six projects, competing with each other,” he says. ings’ Mayfair Gardens on Rifle Range including Tampines Court, Ampas Huttons carries out in-house re- Road, Qingjian Realty’s JadeScape Apartment, Kovan Lodge, Balmoral search to keep agents updated on on the site of the former Shunfu Gardens and Park West.” property trends, as well as provides Ville and Tripartite Developers’ The Property agencies are in a compet- market data and in-house research Jovell on Flora Road. “Our focus is itive environment and consolidation reports needed for them to do their to make sure that we sell fast and is taking place as the property cool- work. “We really want to make sure we sell out,” says Goh. ing measures take hold. Will Hut- the agents do well, [because] when Goh: We really want to make sure the agents do well, [because] when they do well, Huttons’ efforts have won recog- tons Asia consider mergers and ac- they do well, the company will be the company will be well nition. On Oct 3, it received the Mar- quisitions as others have done? Goh well.” E EDGEPROP | OCTOBER 15, 2018 • EP63 Marketing Agency PropNex Realty Excellence

PropNex’s path to success

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY BONG XIN YING | the top 500 agents in each quarter are rec- Holdings’ 120 Grange, Bukit Sembawang’s 8 ognised, and their successes are celebrated St Thomas and Sustained Land’s upcoming s at Oct 9, Singapore-listed real es- with their families. project, 3 Cuscaden. tate agency PropNex had a sales Another reason for the firm’s success is PropNex is also one of the marketing agents force of 7,575, making it the big- the boot camps that the company holds for for GuocoLand’s Martin Modern as well as Agest in the city state. It added 891 its agents, says Gafoor. PropNex started hold- M+S’s Marina One Residences and DUO Res- more agents than the 6,684 regis- ing them three years ago. The gruelling three- idences. “PropNex is now a dominant player tered with the Council for Estate Agencies day camps start at 7am each day and end at in the luxury segment,” says Gafoor. (CEA) at the start of the year. That’s not all. midnight or even 2am. “We will replace the His next goal is to bring the home-grown “There are others who are still waiting CPU [central processing unit] of our agents brand offshore. PropNex now has 800 agents for CEA approval,” says Ismail Gafoor, ex- during these three days,” says Gafoor. “It’s and 18 offices in Indonesia; two offices and ecutive chairman and CEO of PropNex. He not brainwashing. Our boot camps are five a sales force of about 200 in Malaysia; and estimates that in the first nine months of times more impactful than many self-help an office in Ho Chi Minh City with about 2018, PropNex received more than 1,000 seminars. Agents will then become more than 100 agents. applications, of whom more than 700 are mere middlemen. They will be able to devel- About 30% of PropNex’s revenue contri- experienced sales agents who crossed over op an in-depth knowledge and understanding bution comes from new project launches. So from other companies, while the remainder of the market they are in.” far, 19 projects have been launched, with an- are new agents. Besides training and motivating agents, Ga- other six to seven before year-end. Next year, He attributes this significant increase part- foor believes educating consumers is equal- there will be a pipeline of about 20 new pro- ly to project launches. PropNex was one of ly important. PropNex is very active in con- jects with a total of 6,000 units for launch, the appointed marketing agencies for 15 out ducting seminars or property talks, whether estimates Gafoor. of a total 19 new projects launched so far this at developers’ sales galleries, PropNex’s own The remaining 70% of PropNex’s revenue year. “We sold the most units in these pro- auditorium or other venues. Gafoor: PropNex is now a dominant player in the contribution comes from resales of both pri- jects,” adds Gafoor. Three years ago, PropNex decided to split luxury segment vate and public housing units, and includes It is not surprising that PropNex was pre- the agents according to different geograph- leasing (17%) as well as landed home trans- sented with the Marketing Agency Excellence ical zones — north, south, east and west. doors but nobody gave us the opportunity,” actions (6%), says Gafoor. award at this year’s EdgeProp Singapore Ex- They were further sub-divided into central relates Gafoor. The latest round of property cooling meas- cellence Awards on Oct 3. and non-central regions. At OUE Twin Peaks, PropNex sold 264 units ures has made the market environment “a bit The strong sales achieved at new project Having started in HDB resale and mass- — the most among the appointed marketing more challenging”, concedes Gafoor. “Yet, launches are in turn due to the training pro- and mid-tier projects over the years, Pro- agents. This year, PropNex has been appoint- we’ve been growing since 2013, when the vided and the culture of the firm, Gafoor says. pNex’s ambition had always been to break ed one of the marketing agents for projects in last round of harsh property cooling meas- Each year, PropNex holds four big conven- into the luxury market. The project that the Core Central Region such as City Develop- ures was introduced. I’m positive about this tions, with attendance at each convention gave it the chance to do so was OUE’s Twin ments’ New Futura and South Beach Residenc- year, and looking at the market, I think we reaching up to 4,000 people. At these events, Peaks. “Before Twin Peaks, we knocked on es, Lian Huat Group’s 8 Hullet, Roxy-Pacific will do well next year [too].” E EDGEPROP | OCTOBER 15, 2018 • EP5