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MCI (P) 136/08/2017 PPS 1519/09/2012 (022805)

Visit EdgeProp.sg to ˎ nd properties, research market trends and read the latest news The week of April 30, 2018 | ISSUE 828-49

Portfolio Sale Gains and Losses Done Deals Deal Watch Dairy Farm to sell Seller at Four Seasons Close to 200 new homes Unit at The Ritz-Carlton 7-Eleven shop units Park rakes in $3.3 mil sold in Pasir Panjang Residences on the market worth $48.8 mil EP3 profi t EP9 in April EP10 for $11 mil EP13

BANYAN TREE GROUP

Banyan Tree Residences Brisbane (bottom, left) at Kangaroo Point Cliffs, fronting Brisbane River

BANYAN TREE sprouts branded residences in Brisbane The Singapore-listed hospitality and property group sees opportunity for more branded residences in major cities around the world. See our Cover Story on Pages 6 and 7. EP2 • EDGEPROP | APRIL 30, 2018 PROPERTY BRIEFS

CBRE EDITORIAL EDITOR | Park House launched for en bloc sale Cecilia Chow at $308 mil DEPUTY EDITOR | Lin Zhiqin Park House (right), a 15-storey block at the junction WRITERS | Timothy Tay, Bong Xin Ying, Charlene Chin of Orchard Boulevard and Tomlinson Road, has been DIGITAL WRITER | Fiona Ho put up for sale with a price tag of $308 million. The property occupies a freehold site of 46,084 COPY-EDITING DESK | sq ft and has an allowable plot ratio of 2.8. As the Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi Murugiah baseline plot ratio is equivalent to 3.66, no devel- PHOTO EDITOR | opment charge is payable, says CBRE, the exclusive Samuel Isaac Chua marketing agent. PHOTOGRAPHER | Albert Chua The guide price of $308 million reflects a land EDITORIAL COORDINATOR | Yen Tan rate of $2,387 psf per plot ratio (ppr) — or $2,170 DESIGN DESK | psf ppr, if the 10% bonus balcony area is taken into Tan Siew Ching, consideration. Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za’abah Built in 1970, Park House contains 56 apartments of 1,571 sq ft each, and four ground-floor shops of ADVERTISING + 1,528 sq ft each. At least 81.6% of the owners have MARKETING ADVERTISING SALES signed the collective-sale agreement. DIRECTOR, COMMERCIAL OPERATIONS | If the collective sale is successful, the apartment Cowie Tan owners of Park House will walk away with at least ASSOCIATE ACCOUNT DIRECTOR | Diana Lim $5 million each and each shop owner will receive at SENIOR ACCOUNT MANAGER | least $6.65 million. price of $112 million would translate into a land rate ten permission to develop the site into two 4-storey Janice Zhu Park House is a short walk to the Orchard Road of $1,072 psf ppr. blocks with F&B on the ground floor and offices on MANAGERS ACCOUNT | shopping belt, near Camden Medical Centre and a For the owners of the 16-year-old condo, the sale the upper floors with an approved GFA of 9,694 sq ft. James Chua, Bernard Wong SALES STRATEGIST | four-minute walk from the upcoming Orchard Boule- price will translate into proceeds of $1.38 million to $2 The site is the former entrance to the New World Han YaoGuang vard MRT station. million each, depending on their unit size. The tender Amusement Park, which has been redeveloped into the The public tender will close on May 31. for St Michael’s Condominium will close on May 23. freehold City Square Residences and the eight-storey CIRCULATION DIRECTOR | Dominic Kevin Sim City Square Mall by City Developments. MANAGER | Bryan Kek SLB Development and Oxley JV acquires About 88.2% of developers expect home An underground link connects City Square Mall EXECUTIVE | Pei-Fu Industrial Building for $76.25 mil prices to rise in next six months: NUS-REDAS to the Farrer Park MRT station on the North-East Malliga Muthusamy, Ashikin Kader On April 24, SLB Development’s indirectly owned sub- Some 88.2% of developers anticipate a hike in resi- Line. The site is also near the Lavender MRT station CORPORATE sidiary, Oxley Kyanite, exercised the option to pur- dential property prices in the next six months amid on the East-West Line and the Bendemeer station on CHIEF EXECUTIVE OFFICER | chase Pei-Fu Industrial Building at 24 New Indus trial an increase in the number of new home launches, ac- the Downtown Line. Bernard Tong Road for $76.25 million. Oxley Kyanite is a 51:49 joint cording to the 1Q2018 report by NUS-REDAS Research. After factoring in the development cost, the break- PUBLISHER venture between SLB and Oxley Holdings. Only 5.9% expect residential prices to remain un- even point for the new development is around $1,925 The Edge Property Pte Ltd The building occupies a freehold land area of changed, while another 5.9% expect a fall in prices. psf, says Clemence Lee, JLL associate director of cap- 150 Cecil Street #13-00 5,792.1 sq m (62,346 sq ft). SLB intends to redevelop The research, published every quarter, measures ital markets. The EOI will close on May 30. Singapore 069543 Tel: (65) 6232 8688 the property, subject to obtaining all the necessary the market perception and expectations of members Fax: (65) 6232 8620 approvals from the relevant authorities. in the Real Estate Developers’ Association of Singa- Freehold three-storey terrace house for sale According to SLB, the acquisition is not expected pore (REDAS). at $6.6 mil PRINTER to have material impact on the net tangible assets per Of the developers surveyed, 82.4% said they A freehold three-storey terrace house with attic at 9 KHL Printing Co Pte Ltd 57 Loyang Drive share and earnings per share for the current financial would increase the number of new launches, where- Sturdee Road has been launched for sale by tender Singapore 508968 year ending May 31. as only 2.9% said they would lower that number. at an asking price of $6.6 million, with Colliers In- Tel: (65) 6543 2222 Some 14.7% said they would maintain the number ternational as the sole marketing agent. The price Fax: (65) 6545 3333 St Michael’s Condominium going for en bloc of their launches. works out to $1,200 psf, based on the built-up area PERMISSION AND sale at $112 mil On the development charge for non-landed resi- of about 5,500 sq ft. REPRINTS St Michael’s Condominium (below), a 60-unit pri- dential properties, 62% of the developers believe that Under the 2014 Master Plan, the 1,661 sq ft site Material in The Edge Property vate condo completed in 2002, has been put up for the latest increase — by 22.8% on average — is “un- is zoned “residential”, with a gross plot ratio of 1.6 may not be reproduced in any form without the written en bloc sale with an asking price of at least $112 usually high”, the report states. Still, 65.1% of the and a six-storey height limit. permission of the publisher million. The existing development contains twin total respondents believe that there will be no sig- The property was rebuilt in 2014 and features a 10-storey blocks on a freehold site of 35,665 sq ft. nificant cutback in collective sales over the next six façade inspired by heritage black-and-white bunga-

We welcome your comments It is on St Michael’s Road, just off Serangoon Road to nine months. lows in Singapore. and criticism: propertyeditor.sg@ in District 12. Some respondents believe that the recent spate of The site is near the Farrer Park MRT station on the bizedge.com The site is zoned for residential use, with a plot en bloc sales has boosted the demand for homes. “En North-East Line and the Bendemeer MRT station on ratio of 2.8 and maximum height of 36 storeys. The bloc beneficiaries will start to receive proceeds grad- the Downtown Line. The tender will close on May 16. Pseudonyms are allowed but please state your full name, maximum gross floor area (GFA) is therefore 99,863 ually and are likely to re-enter the market and pick address and contact number for sq ft, which means the site can be redeveloped into up replacement homes or reinvest in properties for Singapore’s office market could see 20% us to verify. a new residential project with 132 units, assuming an capital appreciation or rental investment,” a REDAS rental growth by end-2019 average size of 753 sq ft, says Sieow Teak Hwa, man- member writes. Singapore’s office market could be the strongest in aging director of Teak Hwa Real Estate, the sole mar- In terms of potential risks to the real estate mar- Asia for investors, potentially achieving up to 20% keting agent for St Michael’s Condominium. ket, 87.3% of respondents are worried that rising in- rental growth for 2018/19, according to Colliers In- No development charge is payable. Owing to the terest rates and inflation will hamper demand in the ternational’s 1Q2018 report. high baseline GFA, buyers should not be affected by next six months; 50.8% believe there will be an ex- Prime office rents should rise 10% to 12% in 2018, future increases in development charge, says Sieow. cessive supply of new property launches; and 49.2% and 5% to 7% in 2019, following Singapore’s sol- If a 10% bonus balcony space were included, the see the government introducing cooling measures. id economic performance, the report stated. Rents proposed plot ratio would rise to 3.08. The asking Interest rate hikes could put pressure on smaller in premium and Grade-A office space in the CBD firms seeking loans. Likewise, inflationary pressures climbed 4.8% q-o-q to $8.60 psf a month in 1Q2018, TEAKHWA REAL ESTATE could come about as current demand for properties up from the 2.7% q-o-q increase in 4Q2017 and 0.6% exceeds supply. q-o-q rise in 3Q2017. Overall, average rent for pre- Of all the real estate segments, prime retail was mium office space in the CBD has risen 14.3% from the only one with negative sentiment. Suburban resi- the rental trough in 1H2017. dential shows the strongest market sentiment, followed Another factor that strengthened the landlord’s by prime residential and office. market was the overall drop in vacancy rates. CBD premium and Grade-A spaces saw vacancy rates fall Commercial freehold site on Jalan Besar 2.3 percentage points q-o-q to 5.8% this quarter. Va- Road up for sale at $13.5 mil cancy rates of Grade-B office space recorded an in- A 3,230 sq ft vacant site located between 251 and crease of 0.2 percentage point to 6.8%. 255 Jalan Besar Road has been put up for sale by ex- pression of interest (EOI). The freehold site zoned Singapore is top destination for Chinese for commercial use has a price tag of $13.5 million, firms expanding overseas, says JLL says sole marketing agent JLL. Under the 2014 Mas- Chinese businesses are expanding their global ter Plan, the site has a gross plot ratio of 3.0, or a footprint by targeting emerging markets, acquiring land rate of $1,392 psf ppr. No development charge overseas firms and making strategic investments in is payable for the intensification of the site. new technologies, says real estate consulting firm The site has a 10m frontage on the main road and JLL in a report. can be used for F&B, retail, office and co-working Among the global network of cities, Singapore concepts, subject to approval by the relevant author- is the top Asian destination for mainland firms ex- ities. The existing owner has already received writ- panding overseas. EDGEPROP | APRIL 30, 2018 • EP3 PORTFOLIO SALE Dairy Farm selling 7-Eleven portfolio of shops

JLL JLL | BY BONG XIN YING | Th e 7-Eleven Portfolio airy Farm Singapore has put PROPERTIES TOTAL STRATA AREA GUIDE PRICE (SQ FT) ($ MIL) up for sale its “7-Eleven Port- Cluster 1: Sale and leaseback folio”, which comprises 13 Blk 210 Hougang St 21 #01-275 850 1.98 HDB shophouses and a 999- Blk 532 Ang Mo Kio Ave 10 #01-2455 2,207 2.86 year leasehold retail shop at Blk 102 Yishun Ave 5 #01-137 1,160 4.07 Peninsula Plaza. The asking price for D Blk 339 Ang Mo Kio 1 #01-1579 1,518 1.98 the entire portfolio with a combined Blk 1 Changi Village Road #01-2014 1,421 1.65 strata area of 21,289 sq ft is $48.79 Blk 501 Jurong West St 51 #01-255 1,518 4.40 million. According to the marketing Blk 291 Yishun St 22 #01-337 1,916 2.86 agent JLL, the assets can be sold ei- Blk 111 Toa Payoh Lor 1 #01-358 1,528 1.82 ther individually or collectively. Cluster 2: Sale with vacant possession The properties are located in prime Blk 727 Clementi West St 2 #01-284 2,196 3.08 areas such as City Hall (Peninsula Blk 130 Jurong East St 13 #01-223 1,335 3.96 Plaza) and in mature residential es- Blk 139 Tampines St 11 #01-20 1,873 2.75 tates like Ang Mo Kio, Bedok and Blk 190 Toa Payoh Lor 6 #01-564 1,033 9.90 Clementi (see table). Peninsula Plaza #01-35 581 4.95 They come with prominent front- Cluster 3: Sale with tenancy age and most of them are in close Blk 631 Bedok Reservoir Road #01-934 2,153 2.53 proximity to road junctions, coffee This 7-Eleven store at Jurong West St 51 is one of the stores in the portfolio shops, post offices and supermarkets. The retail unit at Peninsula Plaza oc- tions for owner-occupiers. Investors can Such properties are highly sought was due to legacy reasons and not a Storage supermarket, IKEA furniture cupies a prime ground floor location also have the flexibility of leasing the after by investors owing to their de- strategic one,” according to the com- store, Giant hypermart and Guardi- with a prominent main road frontage. units to their own preferred tenants. fensive and counter-cyclical nature, pany. “In order to improve its capita an pharmacy. In 2017, the group and The portfolio will be offered for Cluster 3 features an individual as- Lee adds. He expects strong interest efficiency, Dairy Farm has decided its associates and joint ventures op- sale under three separate clusters. set located on Bedok Reservoir Road. from investors such as boutique real to divest the portfolio.” erated more than 7,100 outlets, em- Cluster 1 features assets that are The unit is offered for sale with exist- estate funds, local companies, fam- Furthermore, in light of their non- ployed 200,000 people and had total offered for sale with a long-term ing tenancy, providing the incoming ily offices and high-net-worth indi- core strategic nature and lack of scal- annual sales exceeding US$21 billion sale-and-leaseback arrangement with investor with a stable income stream. viduals who are looking to own a ability for further development, it is ($27.9 billion). 7-Eleven in place, providing inves- The 7-Eleven portfolio will be of- turnkey property with a strong ten- considered more beneficial to unlock Incidentally, Dairy Farm Interna- tors with the opportunity to acquire fered for sale via an open tender pro- ant covenant and a long-term ten- the value of these assets. The pro- tional is incorporated in Bermuda high-yielding properties with a strong cess that will close on June 5 at 3pm. ancy in place. ceeds will be used to reinvest and and listed on the London Stock Ex- and established blue-chip tenant in This is the first time that a series Dairy Farm Singapore derives its grow the business, says Dairy Farm change, with secondary listings in place. The units will be leased to Cold of prime 7-Eleven convenience stores returns from retail and not proper- Singapore. Bermuda and Singapore. The group’s Storage Singapore, a subsidiary of situated in long-standing and ma- ty, says the company in a statement. Dairy Farm Singapore is a sub- businesses are managed from Hong Dairy Farm International Holdings. ture residential hubs is being put on As such, over 95% of its stores are sidiary of Dairy Farm International, Kong by Dairy Farm Management Cluster 2 features assets that are of- the market for sale, says Clemence leased. Dairy Farm Singapore owns a leading pan-Asian retailer. Besides Services through its regional offices. fered for sale with vacant possession, Lee, associate director of capital mar- about 400 7-Eleven stores in Singa- 7-Eleven, the group also operates well- Dairy Farm is a member of the Jardine providing units located in good loca- kets at JLL. pore. “The acquisition of the assets known retail brands such as Cold Matheson Group. E

PROPERTY BRIEFS

Tay Huey Ying, head of research & con- tive spaces featuring Indonesian-inspired art ital acquired Quayside for $450 million. Local tial development that is already completed and sultancy for JLL Singapore, says: “Not only is and graphics. architect partners SCDA, the team behind New nearly fully occupied. Prices for one-bedroom it Asia’s most stable and transparent market Turochas Fuad, managing director of WeWork York’s Soori High Line development, was en- units start from £179,950 ($333,044) and those and a global financial services hub, but Sin- Southeast Asia, says: “With our aggressive listed. Local F&B companies Super Loco, Sum- for two-bedroom units start from £269,950. gapore also has strong links to China and is growth and upcoming plans, WeWork is at the merlong and Decker Barbecue were among the The 10-storey development has a gym and geographically well placed to act as a gateway forefront of redefining conventional work envi- first to secure their plots and open in front of 24-hour concierge. It is located in Birming- into Southeast Asia.” ronments in today’s rapidly changing era and a new 225-room InterContinental Singapore ham’s main retail and entertainment district Among Asian markets, Tokyo and Seoul we will continue our commitment of creating Robertson Quay, formerly known as The Gal- and close to the main business district, which came in close at second and fifth respectively. greater value for the local business ecosystem.” lery Hotel. is the largest financial and professional hub Jakarta is ranked sixth, Bangkok is in 10th The co-working operator opened its first Recent launches at Quayside include ground- outside London. place, and Delhi is 13th. Southeast Asian location in Singapore last De- floor Italian neighbourhood bar Marcello, Another property that will be showcased is cember at WeWork Beach Centre. Its second lo- adjacent to Publico Ristorante, which offers the 63-unit CopperBox. The luxury residential WeWork expands into Indonesia with cation in Singapore, at 71 Robinson, will open contemporary Italian dining. In March, Plum development is in Harborne Village, a highly two upcoming locations by end-June. Other locations in the pipeline in- and Toro, a Japanese dining concept by Chef sought-after suburb of Birmingham that The New York-based co-working operator WeWork clude 60 Anson Road, 22 Cross Street and Fu- Hideki Ii, was opened. Members club 1880 Times has named one of the UK’s best places announced on April 24 that it would be enter- nan Mall. WeWork also plans to expand into opened for business in December, occupy- to live in. ing the Indonesian market with the opening of other markets in the region, including Bang- ing all of the hotel’s third floor with its iconic CopperBox is set to be completed in Decem- two co-working offices by 3Q2018. WeWork will kok, Kuala Lumpur and Manila, by year-end. Timothy Oulton design. ber and comprises studio and one-bedroom occupy three floors in Sinarmas MSIG Tower, apartments, including eight top-floor pent- which will accommodate 800 members, and RB Capital signs Potato Head Family UK developer SevenCapital to launch house-style apartments. It also has 18 dedi- five floors in Revenue Tower, which will host to complete Robertson Quay line-up two luxury residential developments cated parking spaces, which is a rarity in the 1,400 members. The upgrade of Singapore’s Robertson Quay in Singapore area. Prices of studio apartments start from Both properties are located on Jakarta’s Wall is set to be completed later this year, with RB SevenCapital, one of the largest privately £174,950 and those for a one-bedroom units Street equivalent, Jalan Jenderal Sudirman, in Capital confirming the signing of the prome- owned real estate investment and develop- start from £207,950. the Sudirman CBD. The area is close to major nade’s final restaurant tenant, the Three Buns ment companies in the UK, is bringing two Situated in a prime position on Harborne’s office buildings, hotels, embassies, shopping concept by Potato Head Family. Following a of its luxury residential developments in Bir- high street, the development is close to local and entertainment complexes, and upmarket bidding war for the final space, Potato Head mingham to Singapore. They were showcased amenities, and F&B and retail offerings. It residential apartments. The new locations will Family will join, among others, Super Loco, over the weekend of April 28 and 29 at the will be served by the High Speed 2 railway, have a full suite of amenities, including com- Summerlong and Wolfgang Steakhouse in the Regent Hotel. which is set to be operational in 2026. — mon areas, phone booths, community bars and Quayside line-up. The first property is the 214-unit Broad- Compiled by Charlene Chin, Bong Xin Ying breakout areas housed in beautiful, collabora- In 2013, local real estate business RB Cap- way Residences, a prime city centre residen- and Timothy Tay E EP4 • EDGEPROP | APRIL 30, 2018 OFFSHORE

Singapore-based Strawberry Star to offer ‘end-to-end’ services for international investors

PICTURES: STRAWBERRY STAR SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CECILIA CHOW & ANGELA TEO |

anthosh Gowda, founder and chairman of Strawberry Star Group, spends 15 days in Singapore each month, and an- other 15 days in London. He now calls Singapore home, and has even estab- Slished his headquarters here. Strawberry Star first opened its office in Sin- gapore in March 2015. It started as a London real estate agency. However, Gowda’s ambi- tion was to create “an integrated, end-to-end services platform” for international investors, primarily from Asia and the Middle East, to invest in the UK. Initially, there was confusion about Straw- berry Star’s business, says Gowda. “People would ask if we’re a developer or a property agent, and then they would ask about our track record. It was a chicken-and-egg situation.” When Gowda started the company in 2007, his intention was to pool together the capital of overseas investors to acquire assets in the UK. His maiden acquisition was a block of 33 Aerial view of Sky Gardens Nine Elms (tower in the foreground), a mixed-use development with 196 Gowda: Most of the equity will be deployed in apartments in London, purchased in the depths apartments and commercial space developing housing schemes around London of the global financial crisis in 2008. At the time, there were only two staff in the company, including Gowda. He had to rely on a new-build home with as little as 5% equi- external consultants and advisers — from prop- ty. They are also entitled to a government eq- erty agents to legal advisers and lending part- uity loan of up to 40% of the purchase price ners — to complete the transaction within 30 and eligible for a mortgage of up to 55% of days. He also had to engage letting agents to the purchase price. help lease out the units, as well as a proper- Strawberry Star therefore intends to build ty management firm to manage the building. a pipeline of 3,000 to 5,000 of such homes in commuter towns outside Zone 3, which are a ‘Fragmented market’ 45-minute to one-hour commute from London. “The UK real estate market is very fragmented,” For example, in February, Strawberry Star he says. “For an overseas investor, it’s espe- secured a contract to develop a £260 million cially challenging because there’s no coordina- mixed-use development with a residential com- tion, no follow-up. It’s not just when it comes ponent in Luton in Bedfordshire, which is a to acquisition, but rental and sale as well.” 40-minute commute to London. The 6.9-acre Ten years on, Gowda feels he has finally site at Luton will comprise 685 homes, a 200- put in place an “end-to-end” services platform room hotel, retail and leisure facilities, a state- — from acquisition to development, proper- of-the-art medical and wellness centre as well ty management, leasing and selling. He even as high-quality public spaces. enrolled himself in a three-year programme The development has received planning ap- at Harvard Business School to ensure that he Two-storey sky gardens located on the eighth floor and rooftop of Sky Gardens Nine Elms proval, and construction is expected to start in had implemented the right structures, process- autumn, with the first phase to be completed es and business culture. “I’m graduating this by 2H2021. Prices of apartments at the devel- year,” he says. tial and Savills, came on board as Strawberry £150 million in equity in 2018 from global in- opment will start from £210,000. Gowda believes it is equally important to Star’s sales director. vestors to tap the London housing market, and The site is located near Luton Airport, hire the right people to head each business line to hit £500 million by 2020. “Most of this eq- where there will be a new light rail link to — “those with at least 15 to 20 years’ expe- Play on London, Guernsey-listed uity will be deployed in developing housing the nearest train station. With the Crossrail, rience in their fields”, he says. The team has investment structure schemes around London, where the gap be- the journey from Luton to London St Pancras grown from just two to more than 50 today. Joining Strawberry Star as managing director tween demand and supply is widening, creat- will take just 30 minutes. The Luton Airport In Singapore, Doris Tan, a veteran in inter- of developments in London was Nick Stonley, ing business opportunities, especially with the is also spending £110 million to redevelop its national residential project marketing, joined who was managing director of United Hous- sterling yet to regain its strength,” Gowda says. terminals to increase its passenger capacity to Strawberry Star in 2017 as regional director for ing Developments for seven years. He had also Under the listed entity are different spe- 18 million by 2020. Singapore and Hong Kong. She was previous- spent 13 years at Berkeley Homes, where he cial purpose vehicles that investors can par- ly with JLL and prior to that, the founder and was managing director for several of its Lon- ticipate in — either a development project or Developments and investments managing director of her own boutique firm, don divisions. Steve Peters, Strawberry Star’s an asset to be acquired for future redevelop- According to Gowda, Strawberry Star has de- DST International. development director, was the operations di- ment or as an investment. “With these struc- veloped projects in areas that are undergoing At the beginning of 2018, Tracy Wun joined rector of United House Developments for sev- tures in place, we can get investors on board regeneration and massive investments, such Strawberry Star as director of capital in Sin- en years. There are two development teams easily,” explains Gowda. as Nine Elms, Royal Docks in Docklands and gapore. Wun was previously the chief invest- within the firm: one to handle small devel- Southall. Over the past 11 years, the compa- ment officer of Pollux Properties and prior to opments with shorter turnaround times, and Catering for first-time buyers ny has developed projects with a gross devel- that, with Singapore-listed property develop- the other to handle big, mixed-use schemes. Over the last three years, Strawberry Star’s opment value of close to £1 billion. So far, six er Hiap Hoe Ltd. “The capital division works Heading Strawberry Star’s acquisitions primary focus has been on the housing mar- projects have been completed and delivered, with its London counterpart to secure interest is managing director Sathvik Sathish, while ket in Greater London. According to Gowda, including Chelsea Bridge Wharf in Wand- from early-stage investors from Singapore in Kekul Shah is director of fund management. there is an acute shortage of affordable homes, sworth and Riverlight and Embassy Gardens various London schemes,” says Wun. Kekul worked for flagship real estate projects particularly those priced below £300,000, or in Nine Elms. While Wun and Tan are based in Singapore, such as the Heron Tower and prime residen- £600 psf. Residential properties in this price Other projects include Hoola at Royal Docks, the other heads of Strawberry Star’s business- tial schemes in Central London developed by range appeal to first-time homebuyers. Since which comprises 360 apartments in twin resi- es are based in London. They include Robert Ronson Capital Partners. last November, first-time buyers of homes be- dential towers of 23 and 24 storeys as well as Hepworth, Strawberry Star’s commercial in- Gowda has also listed an investment struc- low £300,000 will not be subject to buyer’s a commercial development; and Sky Gardens vestment director, who was previously with ture called Strawberry Star Real Estate PCC Ltd stamp duty. in Nine Elms, which was developed in a joint PNB Paribas Real Estate and prior to that, Col- on the International Stock Exchange in Guern- To help first-time homebuyers get on the venture with the UK arm of Singapore-listed liers International. Matthew Leitch, who was sey. The structure currently holds £40 million first rung of the property ladder, the London Frasers Property. Sky Gardens is a mixed-use previously senior director at CBRE Residen- ($74 million) in equity. The intention is to raise Help to Buy scheme allows them to purchase project with 196 apartments and commercial EDGEPROP | APRIL 30, 2018 • EP5 PROPERTY TAKE

Singapore third choice for corporate expansion, trails

space. About 80% of the investors in Hoola behind India and China: CBRE and Sky Gardens are Asian investors, primarily from Singapore and Hong Kong, says Gowda. BLOOMBERG Under development is Bronze in Wand- ingapore is the third most popular sworth, which comprises a mix of one- to choice for company portfolio expan- three-bedroom apartments as well as duplex sion, behind India and China, accord- penthouses. The project is located on Buckhold ing to CBRE’s 2018 Asia Pacific Occu- Road, adjacent to the popular King George’s pier Survey. Park. Prices start from £465,000. The project SBangalore remains the top choice for mul- is scheduled for completion by 4Q2019. tinationals, followed by Shanghai. Singa- Last November, Strawberry Star announced pore remains an important hub for South- a £47 million investment in Greenview Court, east Asia. a project by UK developer Galliard Homes. The In India and China, smaller cities are the residential development in Southall is located next popular choice for corporates. In India, near the upgraded Southall Station, with ac- companies have limited growth plans in Delhi cess to the Elizabeth Line, which is part of the NCR and Mumbai. In China, apart from Crossrail project and scheduled to open this Shanghai, corporates are looking at Tier-2 cit- year. Greenview Court is slated for completion ies, while Beijing and Guangzhou command by 2020. Units in the development are priced weaker interests. from £340,000. CBRE observes that Shanghai office rent- Last November, Strawberry Star also com- al prices are not expected to fall significantly mitted to purchasing five Grade-A office build- despite a big supply of office space, as strong ings in the first phase of Asian Business Port demand is expected to sustain rental prices. (ABP), in London’s Royal Albert Dock. The Bangalore and Singapore also face high office topping-out ceremony for the first phase of rental demand, tightening space availability. the £1.7 billion, 35-acre development was China’s Tier-1 cities, New Delhi and smaller held on April 12, with completion scheduled Indian cities are experiencing a major over- for March 2019. The first phase will have 28 supply. commercial buildings with a gross floor area The survey respondents were 50 corpo- of 635,000 sq ft across eight acres. The build- rate real estate executives who oversaw their ings are predominantly Grade-A office space company’s real estate portfolio from October with accompanying retail space, according to to December 2017. Most were from compa- iTutor Group’s Shanghai office. Technology is increasingly being deployed to enhance the workplace experience. the developer, ABP London, the UK arm of nies headquartered in North America (36%). ABP (China) Holding Group. The rest were split evenly between Asia-Pa- Strawberry Star’s Gowda intends to hold the cific and Europe (32% each). Offi ce portfolio growth intentions five Grade-A office buildings at ABP London The biggest sector represented was tech- as a long-term investment. When completed, nology, media and telecommunications (TMT) they will be leased out for rental income, he (30%), followed by banking and finance says. “I think demand for commercial prop- (22%), automotive, healthcare and life scienc- erty is growing.” es (14%) and oil and gas (10%). 0% 5% 10% 15% 20% 25% of Overall, 45% of respondents express 47% TMT companies ‘Robust demand’ for new build positive sentiments on expansion plans in Increase 10%+ 23% Gowda is optimistic about the UK housing mar- Asia-Pacific over the next two years, with plan to increase ket, particularly the segment targeting first- more than half expecting to increase their their space by more than 10% time homebuyers in the Greater London area. office portfolio by more than 10%. Inten- Increase 1-10% 21% According to the Bank of England’s Agents’ tions to expand are strongest within TMT, Summary Report in 1Q2018, housing market where 47% plan to increase office portfolio Financial companies activity remained subdued. UK house prices by over 10%. Banking shows a weaker sen- Same 23% intend to resume grew 4.4% in the year to February 2018. How- timent, with 55% planning to expand their ever, the UK Residential Market Survey for Feb- office by no more than 10%. portfolio growth but in a restrained manner. ruary 2018 reported that new buyer enquiries On the other hand, 28% of respondents Reduce 1-10% 15% fell for the 11th consecutive month. expect a reduction in their Asia-Pacific of- plan to “Lack of stock in the secondary market fice portfolio. Even so, many in this cate- 55% increase their space was depressing demand by limiting choice for gory plan to grow by improving utilisation Reduce 10%+ 13% prospective buyers,” says the Agents’ Summa- of office space. by less than 10% ry Report. “However, demand for new-build property was robust, supported by the Help Relocation demand Undecided 4% to Buy scheme.” Almost half of the respondents plan to re- CBRE RESEARCH APRIL 2018 Meanwhile, in its prime UK residential report locate over the next two years. Tokyo is for Spring 2018, Savills Research says the prime the most popular destination for relocation central London market is not expected to see fur- (42%), with interest largely concentrated port fast-changing workstyles. Such a process hance workplace experience. Of the respond- ther significant falls in value. “But we don’t ex- in the Marunouchi CBD. Next is Singapore breaks down the decision-making process ents, nearly 80% anticipate a rise in Prop- pect a return to growth until there is greater Brex- (25%), which is in the midst of a rental into more manageable portions to enable Tech investment in the next three years. it clarity,” the report says. Economic uncertainty upcycle that is projected to last till 2020. rapid response to shifts in the marketplace. Workplace technology that respondents are also means the market will remain “discretion- Third is Manila, where multinationals are Observes CBRE: “Traditional workplace using or planning to install includes apps to ary”, according to Savills, “while international looking to relocate to cheaper locations out- solutions such as open-plan offices and cubi- book desks/meeting rooms (64%), sensors buyers will be reluctant to take advantage of the side the CBD. cles cannot accommodate the agile business to monitor workspace occupancy (43%), currency play, given the high tax environment”. When picking office buildings, the re- process. Such places need to be high-per- predictive analysis tools (30%) and person- The price gap between London and the rest spondents’ top three criteria are real estate formance workplace solutions that support al environment control systems (20%). In of the country remains, says Savills. “This will cost (80%), transport accessibility (61%) and a diversity of rapidly changing workstyles.” particular, the use of predictive analytics drive a flow of wealth into the commuter belt floorplate design (50%). More and more, how- Other trends identified by the respond- in identifying critical workplace needs is and beyond, so the prospects for house price ever, the respondents are choosing buildings ents that have implications for real estate set to play a bigger role. The CBRE survey growth over the next five years remain positive.” based on landlords’ willingness to provide strategy include wellness programmes, the notes that landlords are increasingly expect- Reading these trends, Gowda therefore value-added services and amenities. rise of the co-working space and innovation ed to play a bigger role in enhancing work- plans to develop a pipeline of 5,000 new centres, as well as mobile- and home-work- place experience. Workplace technology in homes worth an estimated £3 billion. “Over Working arrangements ing policies. respondents’ plans and for which landlords the long term, we will be able to create value Flexibility remains central to companies’ are expected to provide includes air purifi- for our shareholders,” he says. “We may then real estate strategy. Some 40% see the “ag- Investment in PropTech cation technology (28%) and biometric au- look at an IPO.” E ile business process” as necessary to sup- Technology is increasingly deployed to en- thentication (15%). E EP6 • EDGEPROP | APRIL 30, 2018 COVER STORY

Banyan Tree Residences Brisbane (right) at Kangaroo Point with the CBD across the Brisbane River

Banyan Tree sprouts branded residences in Brisbane The Singapore-listed hospitality and property group sees opportunity for more branded residences in major cities around the world

THE EDGE SINGAPORE | BY CECILIA CHOW & CHARLENE CHIN | botanic gardens as well as the Southbank cultural and lifestyle precinct. Amenities include leading schools, universities and he collective-sale fever has rubbed off on new-home hospitals. “If you ask anyone in Brisbane, they will tell you sales, not just in Singapore but overseas too. This was that it’s one of the super-prime locations,” Ho says. evident from the relatively brisk sales at the April 21 A prime two-bedroom apartment on the waterfront of Syd- and 22 weekend launch of Banyan Tree Residences Bris- ney’s CBD is likely to be priced from A$2.5 million ($2.51 mil- bane by Banyan Tree Group held at St Regis Singapore. lion) to A$3 million today, says Colliers’ Ching. Meanwhile, T“We definitely saw a lot of collective sale beneficiaries,” says in Melbourne, there is quite a lot of stock in the CBD area, Carmen Ching, director of international properties at Colliers she adds. Even so, similar apartments in the most exclusive International, the exclusive marketing agent for Banyan Tree suburbs are likely to be in the A$1.5 million-to-A$1.6 million Residences Brisbane. “There were also many first-time buy- price range, she adds. ers of international properties as well as Australian nationals — mainly from Sydney and Melbourne — who saw value in Brand appeal buying a property in Brisbane.” Recognising the premium attached to the product, Banyan Tree One reason they see value in Brisbane property is that home Group has increased the unit mix of Banyan Tree Residences prices in Sydney have run up by 44% over the past decade to Brisbane to include one-bedroom configurations. The num- 2017, according to data from CoreLogic. Likewise, home prices ber of units in the development was therefore increased from in Melbourne have soared 39%, whereas in Brisbane, they 76 to 100, with a wide range of one-, two- and three-bedroom have fallen 11.4% over the same period. Since the beginning apartments as well as four-bedroom penthouses. of 2018, however, the trend has reversed, according to Core- “Since we launched [Banyan Tree Residences Brisbane], the Logic: Property prices have dipped in Sydney and Melbourne market has become even more competitive, with an increase in but stayed flat in Brisbane, says CoreLogic. demand for a broader range of units to cater for investors and Ho: If you ask anyone in Brisbane, they will tell you that [the Banyan owner-occupiers,” says Stuart Reading, Banyan Tree Group’s Price gap Tree Residences site] is one of the super-prime locations head of property development, in a statement. “We’ve been “If you want to invest in Australia today, you would have to be lucky in that even though this is our first branded residence in very brave to invest in Melbourne or Sydney because prices there ban centre”, says Ho. Many older Australians are moving to Australia, the Banyan Tree Group is already a reputable prop- are so high that they are unlikely to be sustainable,” says Ho Brisbane from Sydney and Melbourne, and they prefer to buy erty and hospitality developer with projects in 25 countries.” Kwon Ping, executive chairman of Singapore-listed Banyan Tree an apartment because they do not want to maintain a big house, At the weekend launch of Banyan Tree Residences Brisbane Holdings, in a phone interview with EdgeProp Singapore. “With he adds. Most of them already live in houses in Sydney and in Singapore, one-bedroom units of 55 sq m were priced from Sydney and Melbourne prices having risen so rapidly over the Melbourne. “They also want to move to Brisbane because of all A$550,000, while two-bedroom units starting from 89 sq m past 10 years, the price gap between Brisbane and these two cit- the places in Australia, the weather there is probably the best.” had price tags from A$1.2 million. ies is so huge that either Brisbane prices have to rise rapidly, or According to Ho, most of the prime sites in Sydney and Mel- those in Sydney and Melbourne are going to have to drop. Either bourne have already been taken up. Meanwhile, Banyan Tree Buying ahead of hike in foreign buyer’s stamp duty way, we think investing in Brisbane is a good bet right now.” Residences Brisbane is located atop the Kangaroo Point Cliffs International investors who want to buy a home in Brisbane are Another reason for choosing Brisbane to plant the first Ban- and fronts the Brisbane River, offering views of the CBD. Be- also locking in their purchases ahead of the hike in additional yan Tree Residences in Australia is that “it’s a fast-growing ur- sides its proximity to the CBD, it is also near parklands and foreign buyer’s stamp duty from 3% to 7% from July 1. In July EDGEPROP | APRIL 30, 2018 • EP7 COVER STORY

PICTURES: BANYAN TREE GROUP

The pool at the rooftop of Banyan Tree Residences Brisbane, from where residents can enjoy unobstructed Every unit at Banyan Tree Residences Brisbane will have a view of the waterfront waterfront views last year, foreign buyers in Sydney were hit by a doubling in ary, Banyan Tree Residences — Hillside Dubai was launched. it has the potential to generate $1.8 billion in revenue,” says foreign buyer’s stamp duty to 8%. Meanwhile, in Melbourne, It was the first Banyan Tree Residences in the Middle East. The Banyan Tree Holdings in its FY2017 annual report. foreign buyer’s stamp duty was raised to 7% from July 2016. development is a 32-storey tower with one- to four-bedroom The group has a handful of property projects in Phuket, These additional stamp duties for foreign buyers were in- apartments as well as duplexes with private outdoor gardens from Banyan Tree Grand Residences Phuket to Banyan Tree troduced to stem an oversupply of investor-led, off-plan apart- and triplex penthouses featuring large terraces and cantile- Phuket Spa Pool villas, and the mid-range Cassia Phuket ment projects. “In a lot of places in Sydney and Melbourne, you vered swimming pools. Core Savills was the marketing agent apartments as well as Dusit Phuket villas. These projects have 90-storey condos right in the heart of the city, but they for the project. have residences — worth several hundred thousand to $8 remain empty after they are completed,” observes Ho. “Many Last year saw the launch of Banyan Tree Residences River- million — catering for a wide spectrum of buyers. “We be- of them are owned by speculative buyers.” side Bangkok, a luxury condominium in the Charoen Nakhon lieve Phuket has enormous potential, which we are now un- Banyan Tree Residences is a growing part of the group’s area that fronts the Chao Phraya River. The project is a collab- locking,” says Ho. business, as it is riding on the Banyan Tree brand, says Ho. In oration between Thai-listed developer Nirvana Daii and Ban- That explains why Banyan Tree Holdings announced in December 2016, Banyan Tree Holdings entered into an agree- yan Tree, with Singapore-based SCDA Architects as the design February that it was acquiring the remaining 34.25% stake ment with AccorHotels to collaborate in developing and man- architect. The development, which sits on a five-rai (86,111 sq it did not own in subsidiary Laguna Resorts & Hotels, which aging Banyan Tree branded hotels around the world. As at end- ft) plot, has a total sales value of THB6.5 billion ($273.4 mil- owns Laguna Phuket. 2017, the group’s footprint in 25 countries covered 41 hotels lion). Prices start from THB22.9 million. “We did that because, for the first time in history, Chinese with 5,874 rooms, 60 spas as well as 72 galleries. Another development with Banyan Tree-branded residences property buyers outrank Russian buyers in Phuket,” says Ho. It has a stable of four brands, including its hallmark Banyan is Banyan Tree Signatures Pavilion KL. The development com- “And this is happening at a time when people are talking Tree and Angsana brands. It launched its third brand, Cas- prises 441 private residences for sale and 50 hotel suites. It is about [the Chinese government’s] curbs on capital outflow.” sia, as an extended-stay brand in 2014, and its fourth brand, located at the junction of Jalan Conlay and Jalan Raja Chulan, Ho sees Chinese buyers pooling their money together to buy Dhawa, as a casual and contemporary full-service hotel of- opposite The Pavilion KL mall. Urusharta Cemerlang, a com- property in Phuket. fering in 2015. pany controlled by billionaire Desmond Lim, chairman of Pa- Moreover, the group’s collaboration with China Vanke al- vilion REIT and owner of Pavilion KL, is also behind the de- lows it to tap the latter’s database of potential homebuyers Joint ventures with China Vanke, AccorHotels velopment of Banyan Tree Signatures Pavilion. Launched in from China, he points out. Banyan Tree also formed a joint venture with real estate de- 2015, the private residences are fully sold, says Ho. veloper China Vanke a year ago with the intention of consol- Singapore’s turn? idating the ownership of Banyan Tree-branded hotels and as- ‘Unlocking value’ Will there be a Banyan Tree Residences in Singapore? The sets in China. In early April 2018, the JV partners acquired all According to Banyan Tree Holdings in its FY2017 annual report, group has been approached “many times” by various parties the hotel assets of the Banyan Tree China Hospitality Fund for the group has a pipeline of branded residences worth $147.3 to develop a Banyan Tree Residences in Singapore. “But the RMB1.35 billion ($283.3 million). million in sales. They are Angsana Beachfront Residences and locations were never prime enough,” says Ho. “Through our joint ventures with Accor and Vanke, and with Banyan Tree Grand Residences in Phuket; Banyan Tree Resi- An indication that the time is right for a Banyan Tree Res- more Banyan Tree-branded hotels and residences around the dences Brisbane; Cassia Phuket and Cassia Bintan. The reve- idences in Singapore would be when foreigners start to buy world, a lot more people want us to do pure residences,” notes Ho. nue will be recognised upon completion in 2018 to 2020. Singapore luxury property again. “For foreigners, buying a Banyan Tree Residences Brisbane is not the group’s only The group still holds a landbank of 1.15 million sq m in its branded residence is a sign of prestige and assurance of qual- standalone branded residential project in the world. In Febru- largest integrated resort, Laguna Phuket. “When developed, ity,” Ho says. E EP8 • EDGEPROP | APRIL 30, 2018 PERSONALITY

AAG

The various department heads at AAG. From left: Johnny Ng, recruitment and growth; Yap, sales performance; Ivy Eyu, team bonding and cohesiveness; Tan, technology and innovation and AAG head; Christopher Ng, branding and marketing; Siow, AAG Training Academy; Eric Lee, support and events advisory; and Kevin Seetoh, AAG co-founder. Champion team builder, thanks to PropTech

| BY TIMOTHY TAY | He has a diploma in computer engineering read the newspaper or chatted, I was the only was a struggle convincing [them] because at from Nanyang Polytechnic and a degree in one who brought a laptop and, line by line, the time many still saw technology as just an ester Tan is a real estate agent with an business IT from the University of Swansea. started coding my app” he says. auxiliary tool to support their work, says Tan. uncommon skillset. His training and ex- He joined DTZ in 2004 as a part-time agent The very first mobile app he developed was Today, Tan and Perry Siow, associate dis- perience as a computer programmer have to learn sales and negotiation business skills a reposting tool that made it easier for him to trict director at OTT who is also in charge given him an edge over others in the in- After closing his first successful solo deal in repost his listings on various listing portals of AAG’s Training Academy, are working to dustry and prepared him to face techno- 2006, a three-bedroom HDB flat in Ang Mo Over time he added other software such as ensure that all their agents learn how best Llogical disruptors. Kio, he switched careers to become a full- vTourCreator which enables agents to create to capitalise on the many features available “The industry is in an unprecedented situa- time property agent. a 360-degree walk-through of a home, as well in Tan’s mobile app. According to Siow, the tion and it is especially challenging for agents; Tan experienced first-hand how many of as extend support for commercial, industrial training programme is constantly updated never before have so many disruptors tried to the work processes at the time were backward and landed property segments. His latest up- to cover new features added to the app. The replace the role of the agent” says Tan For and inefficient. “It was all manual and tedi- grade, InstantPro v5, includes a new Target- programme also includes real estate restruc- the past eight years, turning technology to his ous work. As a programmer, I started writing ed Mailer Pro feature that allows agents to turing advisory training as well as customer firm Orange Tee & Tie’s (OTT) advantage, he software to turn whatever I was learning into send addressed mailers to any property with service advice. has developed a suite of mobile applications an automated process” he recounts just a few clicks Tan and AAG aim to continue growing the that has eased property agents’ tasks and ena- As a new agent with limited experience of The daily utilisation rate for Tan’s mobile team and sales by tapping their mobile app bled him to grow his team, which now boasts the property market, he found it frustrating app is between 70% and 80% and about 900 edge, and are targeting younger tech-savvy 1,200 agents compared with just three agents, when he could not answer questions sellers agents log on each day, says Harry Yap, asso- agents as well as experienced senior agents six years ago and buyers asked him “Senior agents had ciate district director at OTT, who is also in who are not used to technology Tan is happy Tan, who is currently senior associate ex- the info at the top of their head, and it frus- charge of sales performance at AAG. Online when agents provide feedback that they fin- ecutive director at OTT, heads the largest di- trated me when it gave away the fact that listings are more important than ever for agents, ished their jobs quicker and with less difficulty, vision of agents there. The rapid growth of I was a new agent”, says Tan. So he devel- especially as market momentum picks up. His and when new agents are happy to know that Tan’s team, the Apex Achievers Group (AAG), oped an app that provided him instant ac- tools help agents engage sellers and buyers, such tools are available to help accelerate their is thanks to his own mobile app called In- cess to information from various sources, helping them get a good price for a property, career development. stantPro which he has been personally de- such as URA caveat data and publicly avail- says Yap. Their team is also keeping a close Tan reckons the number of agents in the veloping for the past 12 years. “I never in- able HDB data watch on prospective en bloc sites and using property industry will fall to about 15,000 in tended to charge my agents for the software, He tells his agents, “Information is every- the new targeted mailing feature to advertise the next few years, from about 28,000 this but would give it free to [those] on my team where. But if you can’t instantly pull it out to their services, he adds. year. “Technology is the only way that will Through word of mouth, more agents have close a deal, information is nowhere to you.” Tan is quick to point out that his success allow agents to remain relevant,” he asserts. become aware of my software and they found As a rookie agent Tan was assigned to var- story is shared with his dedicated AAG man- Despite Tan’s success, he feels there are that it simplified many of their repetitive and ious project show flats that did not see many agement team, who helps him run the division still many features and improvements he has tedious tasks” he says walk-ins. He used the time to develop his first and allows him to focus on developing the app. yet to cover, and he is always thinking of new Before becoming a property agent, Tan spent mobile app which would eventually become his It has not always been easy convincing ideas. For Tan, his mobile app is still a work a decade working as a software programmer. signature InstantPro app. “While other agents agents to adopt technology. Five years ago it in progress. E EDGEPROP | APRIL 30, 2018 • EP9 GAINS AND LOSSES Seller at Four Seasons Park rakes in $3.3 mil profit

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY TIMOTHY TAY | ed a $3 million (70%) profit when the unit was sold. This translates into an annualised he seller of a four-bedroom unit at profit of 5% over an 11-year holding period. Four Seasons Park in prime Dis- It was the second-most-profitable transac- trict 10 raked in a $3.3 million prof- tion recorded during the week in review. it (150%) on April 16. It was the This is the first unit that has changed most profitable sale recorded in the hands at the 18-unit condo since 2011. Ac- Tweek of April 10 to 17. The 2,260 sq ft unit cording to URA caveat data, the last unit is on the fourth floor of one of the condo’s sold was a 3,627 sq ft unit on the 10th floor, three 26-storey blocks. The seller bought and it fetched a $6.6 million (210%) profit. it for $2.2 million ($973 psf) in 1999 and It was also the most profitable transaction sold it for $5.5 million ($2,433 psf). This recorded at the condo. The seller bought the translates into an annualised profit of 5% two-bedroom unit for $3.15 million ($868 over an 18-year holding period. psf) in 2005 and sold it for $9.75 million A 3,821 sq ft unit on the 22nd floor ($2,688 psf) in 2011. This translates into fetched a $5.05 million (81%) profit when an annualised profit of 20% over a six-year it was sold in October 2017. The previous holding period. owner bought the six-bedroom unit for Completed in 1995, 72 Grange compris- $6.25 million ($1,636 psf) in 1999, and es a mix of two- and three-bedroom units sold it for $11.3 million ($2,957 psf). Pric- ranging from 3,692 to 4,305 sq ft. es at the freehold condo have reached lev- In District 15, at the 99-unit condo els last seen during the previous property Camelot By-The-Water, the seller of a 2,874 boom in 2010 to 2013, when the average sq ft, three-bedroom unit made a $2.69 mil- psf price was about $2,700. Six units have lion (154%) profit. The fifth-floor unit was changed hands at the 202-unit condo over bought for $1.76 million ($611 psf) in 2006 the past two years at prices ranging from and sold for $4.45 million ($1,550 psf) on $2,102 to $2,957 psf. April 11. This translates into an annualised Completed in 1994, Four Seasons Park profit of 85% over a 12-year holding period. comprises a mix of three- and four-bed- This is the first time since 2014 that a room units of 2,260 to 2,857 sq ft, six-bed- unit at the 99-year leasehold development room units of 3,821 sq ft and penthouses has been sold at more than $1,500 psf. The of 6,017 sq ft. It was developed by listed last time a unit was sold above this level property group Hotel Properties, which is was in December 2014, when a 2,626 sq ft E controlled by tycoon Ong Beng Seng. The unit fetched $4.7 million ($1,790 psf). The developer also owns the Four Seasons Ho- previous owner bought the unit for $3.2 tel across the road. million ($1,218 psf) in 2007 and made a Also in District 10 is the freehold 72 $1.5 million profit (47%) from selling it. Grange condo, where a 3,853 sq ft unit was Camelot By-The-Water was complet- sold for $7.3 million ($1,894 psf) on April ed in 2000 and comprises a mix of three- 12. The seller of the three-bedroom unit on and four-bedroom units of 2,433 to 3,531 the seventh floor bought it for $4.3 million sq ft as well as penthouses of 5,048 to Prices at the freehold Four Seasons Park condominium are on an uptrend and have reached the levels achieved ($1,116 psf) in October 2006 and pocket- 5,500 sq ft. E during the previous peak in 2010 to 2013

URA, EDGEPROP

Top 10 gains and losses from April 10 to 17 Most profi table deals

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 Four Seasons Park 10 2,260 April 16 2,433 Nov 04, 1999 973 3,300,000 150 5.1 18.5 2 72 Grange 10 3,853 April 12 1,894 Oct 26, 2006 1,116 3,000,000 70 4.7 11.5 3 Camelot By-Th e-Water 15 2,874 April 11 1,550 April 17, 2006 611 2,698,700 154 8.1 12.0 4 Fontana Heights 10 3,455 April 12 1,418 Dec 19, 2006 932 1,680,000 52 3.8 11.3 5 Sky@Eleven 11 1,851 April 11 1,776 March 01, 2007 1,061 1,323,888 67 4.7 11.1 6 Rosevale 11 1,313 April 12 1,675 Jan 01, 2002 777 1,180,000 116 4.8 16.3 7 Th e Tessarina 10 1,033 April 11 1,742 Sept 09, 2002 802 1,006,000 127 5.4 15.6 8 Varsity Park Condominium 5 1,475 April 12 1,119 Nov 01, 2004 459 973,002 144 6.8 13.5 9 Baode Building 14 1,216 April 11 1,093 May 26, 2003 312 950,000 250 8.8 14.9 10 Neptune Court 15 1,636 April 12 885 Feb 14, 2003 312 938,000 184 7.1 15.2

Non-profi table deals

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 Miro 11 1,959 April 12 1,531 March 20, 2013 2,016 950,000 24 5.3 5.1 2 Newton Imperial 11 1,938 April 12 1,708 Oct 17, 2012 1,910 390,000 11 2.0 5.5 3 Rhapsody On Mount Elizabeth 9 2,540 April 12 1,646 Oct 15, 2009 1,750 264,200 6 0.7 8.5 4 Waterscape At Cavenagh 9 1,313 April 11 1,847 April 08, 2010 1,943 126,000 5 0.6 8.0 5 Parc Rosewood 25 1,701 April 13 694 March 14, 2012 766 122,652 9 1.6 6.1 6 Livia 18 1,539 April 13 838 Dec 13, 2011 910 110,000 8 1.3 6.3 7 Th e Sail @ Marina Bay 1 893 April 11 1,813 July23, 2007 1,879 58,840 4 0.3 10.7 8 Th e Tennery 23 883 April 13 1,069 Jan 24, 2011 1,125 49,346 5 0.7 7.2 9 Livia 18 1,539 April 12 910 Dec 18, 2013 939 45,000 3 0.7 4.3 10 River Place 3 743 April 12 1,346 Aug 19, 2010 1,400 40,000 4 0.5 7.7

Note: Computed based on URA caveat data as at April 24 for private non-landed houses transacted between April 10 and 17. Th e profi t-and-loss computation excludes transaction costs such as stamp duties. EP10 • EDGEPROP | APRIL 30, 2018 DONE DEALS Close to 200 new homes sold in Pasir Panjang in April

OXLEY HOLDINGS | BY CHARLENE CHIN | scheduled launch date of April 14. A total of 129 units were sold by ince the beginning of April, ballot on April 7. So far, 142 units, the Pasir Panjang area has or 83.5% of the project, have been been a hotspot for new pro- sold. The average price of units sold ject launches and relaunch- is $1,810 psf, according to caveats es, bringing new home sales lodged so far. Sto close to 200 units so far. Roxy-Pacific’s Teo attributes the April 1 was the launch of Har- healthy sales at both projects to bour View Gardens by Roxy-Pacific pent-up demand. “There haven’t Holdings. As at April 24, more than been many new launches in the 84% of the units — 48 out of a to- Pasir Panjang area for quite some tal of 57 — were sold. The average time,” he says. “Supply traditional- price of units sold at the freehold ly came from redevelopment of bun- condominium at 221 Pasir Panjang galow plots on Pasir Panjang Road Road was $1,753 psf, according to into condos. But supply has dwin- caveats lodged so far. Most of the dled considerably in recent years.” buyers are locals, says Teo Hong The last project to be launched Lim, Roxy-Pacific Holdings execu- in the Pasir Panjang area prior to tive chairman and CEO. Harbour View Gardens and The Ve- Roxy-Pacific Holdings purchased randah Residences was Far East Or- the former Harbour View Gardens en ganization’s Bijou in 2014. Bijou is bloc in August 2016 for $33.25 mil- a mixed-use development with 120 lion. The former 14-unit apartment residential and 15 commercial units The crowd on the first day of Oxley Holdings’ preview of The Verandah Residences block sat on a 30,745 sq ft plot with in a single block. Previewed in Au- ROXY-PACIFIC HOLDINGS an existing plot ratio of 1.4. The de- gust 2014, units were sold at an av- $1,955 psf. Since the start of 2018, veloper decided to retain the same erage price of $2,169 psf. Since the units sold have averaged $1,868 psf, name for the new project. start of the year, units sold have av- according to caveats lodged. Next door to Harbour View Gar- eraged $1,927 psf, according to ca- Recent new launches such as Har- dens is Oxley Holdings’ 170-unit veats lodged. There has also been bour View Gardens and The Veran- The Verandah Residences, which a pickup in transactions at Bijou dah Residences as well as projects was previewed over the Good Fri- in April. launched earlier such as Bijou and Roxy-Pacific day weekend of March 30 to April The Orient, a 52-unit boutique The Orient have revived interest in Holdings has 1. More than 2,500 visitors thronged condo by Aurum Land, is located on the Pasir Panjang area. “Sentiment sold 48 out the sales gallery. Pasir Panjang Road, near the Haw Par has improved a lot,” says Roxy-Pa- of a total of Given the strong response, Oxley Villa MRT station. It was launched cific’s Teo. He believes the recent 57 units at Holdings brought forward the launch at end-2014. Units sold from Decem- launches have attracted not only Harbour View to April 7 instead of the originally ber 2014 to September 2015 averaged owner-occupiers but also investors. E Gardens

Residential transactions with contracts dated April 10 to 17

LOCALITIES DISTRICTS Singapore — by postal district LAND AREA/ UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE Orchard/Tanglin/Holland 9 and 10 District 3 Newton/Bukit Timah/Clementi 11 and 21 ASCENTIA SKY Condominium 99 years April 16, 2018 947 1,520,000 1,605 2013 Resale Balestier/MacPherson/Geylang 12 to 14 THE CREST Condominium 99 years April 13, 2018 700 1,423,000 2,034 2017 Resale East Coast 15 and 16 ECHELON Condominium 99 years April 13, 2018 1,001 1,520,000 1,518 2016 Resale Changi/Pasir Ris 17 and 18 ARTRA Apartment 99 years April 12, 2018 1,410 2,265,100 1,606 Uncompleted New Sale Serangoon/Thomson 19 and 20 ARTRA Apartment 99 years April 12, 2018 1,410 2,488,800 1,765 Uncompleted New Sale West 22 to 24 ARTRA Apartment 99 years April 12, 2018 1,410 2,444,500 1,734 Uncompleted New Sale North 25 to 28 THE CREST Condominium 99 years April 12, 2018 1,324 2,443,000 1,845 2017 Resale THE CREST Condominium 99 years April 12, 2018 926 1,948,000 2,104 2017 Resale RIVER PLACE Condominium 99 years April 12, 2018 743 1,000,000 1,346 1999 Resale THE CREST Condominium 99 years April 12, 2018 1,259 2,544,000 2,020 2017 Resale QUEENS PEAK Condominium 99 years April 10, 2018 861 1,652,000 1,918 Uncompleted New Sale ARTRA Apartment 99 years April 10, 2018 1,410 2,349,500 1,666 Uncompleted New Sale ARTRA Apartment 99 years April 10, 2018 829 1,682,500 2,030 Uncompleted New Sale THE CREST Condominium 99 years April 10, 2018 700 1,463,000 2,091 2017 Resale District 4 THE INTERLACE Condominium 99 years April 13, 2018 1,066 1,450,000 1,361 2013 Resale CARIBBEAN AT KEPPEL BAY Condominium 99 years April 12, 2018 872 1,390,000 1,594 2004 Resale THE INTERLACE Condominium 99 years April 11, 2018 1,055 1,400,000 1,327 2013 Resale PARADISE ISLAND Detached 99 years April 10, 2018 8,633 11,200,000 1,297 2009 Resale District 5 THE INFINITI Condominium Freehold April 17, 2018 1,270 1,310,000 1,031 2008 Resale LAND AREA/ UNIT THE VERANDAH RESIDENCES Apartment Freehold April 15, 2018 1,087 1,880,000 1,729 Uncompleted New Sale FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE THE CLEMENT CANOPY Apartment 99 years April 15, 2018 1,346 2,062,000 1,533 Uncompleted New Sale District 1 THE CLEMENT CANOPY Apartment 99 years April 15, 2018 1,346 2,097,000 1,559 Uncompleted New Sale EMERALD GARDEN Condominium 999 years April 16, 2018 947 1,880,000 1,985 1999 Resale HARBOUR VIEW GARDENS Apartment Freehold April 15, 2018 840 1,447,000 1,723 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 14, 2018 1,518 3,740,000 2,464 2017 New Sale HARBOUR VIEW GARDENS Apartment Freehold April 15, 2018 678 1,197,000 1,765 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 12, 2018 1,528 4,514,220 2,953 2017 New Sale BIJOU Apartment Freehold April 15, 2018 570 1,088,000 1,907 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 12, 2018 1,539 3,558,180 2,312 2017 New Sale THE VERANDAH RESIDENCES Apartment Freehold April 15, 2018 1,292 2,278,000 1,764 Uncompleted New Sale THE SAIL @ MARINA BAY Apartment 99 years April 11, 2018 893 1,620,000 1,813 2008 Resale THE VERANDAH RESIDENCES Apartment Freehold April 14, 2018 1,087 1,958,000 1,801 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 11, 2018 1,119 2,880,900 2,573 2017 New Sale HARBOUR VIEW GARDENS Apartment Freehold April 14, 2018 603 1,102,000 1,828 Uncompleted New Sale THE CLIFT Apartment 99 years April 10, 2018 775 1,310,000 1,690 2011 Resale THE CLEMENT CANOPY Apartment 99 years April 14, 2018 990 1,446,000 1,460 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 10, 2018 1,539 3,930,000 2,553 2017 New Sale THE PARC CONDOMINIUM Condominium Freehold April 13, 2018 2,196 2,100,000 956 2010 Resale MARINA ONE RESIDENCES Apartment 99 years April 10, 2018 1,518 4,462,140 2,940 2017 New Sale THE CLEMENT CANOPY Apartment 99 years April 13, 2018 990 1,402,000 1,416 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years April 10, 2018 1,539 3,842,760 2,497 2017 New Sale VARSITY PARK CONDOMINIUM Condominium 99 years April 13, 2018 1,313 1,400,000 1,066 2008 Resale MARINA ONE RESIDENCES Apartment 99 years April 10, 2018 1,518 3,534,000 2,328 2017 New Sale VARSITY PARK CONDOMINIUM Condominium 99 years April 12, 2018 1,475 1,650,000 1,119 2008 Resale District 2 REGENT PARK Condominium 99 years April 12, 2018 980 960,000 980 1997 Resale ONZE @ TANJONG PAGAR Apartment Freehold April 13, 2018 1,141 2,808,100 2,461 2017 Resale HARBOUR VIEW GARDENS Apartment Freehold April 12, 2018 657 1,184,000 1,803 Uncompleted New Sale SPOTTISWOODE SUITES Apartment Freehold April 12, 2018 463 990,000 2,139 2017 Resale HARBOUR VIEW GARDENS Apartment Freehold April 12, 2018 635 1,136,000 1,789 Uncompleted New Sale EDGEPROP | APRIL 30, 2018 • EP11 DONE DEALS

Residential transactions with contracts dated April 10 to 17

LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE HARBOUR VIEW GARDENS Apartment Freehold April 12, 2018 980 1,685,000 1,720 Uncompleted New Sale BARTLEY RIDGE Condominium 99 years April 11, 2018 1,109 1,445,000 1,303 2016 Resale LORONG SARI Detached Freehold April 11, 2018 4,812 5,180,000 1,076 1994 Resale MACPHERSON GARDEN ESTATE Terrace Freehold April 10, 2018 883 1,600,000 1,808 Unknown Resale THE ORIENT Apartment Freehold April 11, 2018 721 1,385,300 1,921 2017 Resale THE POIZ RESIDENCES Apartment 99 years April 10, 2018 581 849,000 1,461 Uncompleted New Sale HARBOUR VIEW GARDENS Apartment Freehold April 11, 2018 1,001 1,741,000 1,739 Uncompleted New Sale District 14 THE ORIENT Apartment Freehold April 10, 2018 990 1,844,000 1,862 2017 Resale THE SUNNY SPRING Apartment Freehold April 17, 2018 1,098 1,050,000 956 1998 Resale HARBOUR VIEW GARDENS Apartment Freehold April 10, 2018 689 1,258,000 1,826 Uncompleted New Sale LORONG 22 GEYLANG Terrace Freehold April 16, 2018 1,658 2,330,000 1,407 1955 Resale HARBOUR VIEW GARDENS Apartment Freehold April 10, 2018 818 1,401,000 1,713 Uncompleted New Sale THE ALCOVE Apartment 99 years April 16, 2018 1,378 1,112,000 807 2004 Resale BIJOU Apartment Freehold April 10, 2018 570 1,100,000 1,928 Uncompleted New Sale DELIGHT COURT Apartment Freehold April 16, 2018 1,163 986,600 849 1991 Resale BIJOU Apartment Freehold April 10, 2018 570 1,126,193 1,974 Uncompleted New Sale THE SUNNY SPRING Apartment Freehold April 16, 2018 1,195 1,150,000 963 1998 Resale District 7 RESIDENCES 88 Apartment Freehold April 16, 2018 807 790,000 979 2013 Resale CONCOURSE SKYLINE Apartment 99 years April 16, 2018 1,141 2,311,920 2,026 2014 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 15, 2018 678 1,355,000 1,998 Uncompleted New Sale DUO RESIDENCES Apartment 99 years April 13, 2018 1,023 2,350,000 2,298 2017 Sub Sale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 15, 2018 667 1,345,000 2,015 Uncompleted New Sale CONCOURSE SKYLINE Apartment 99 years April 11, 2018 1,119 2,214,420 1,978 2014 Resale SIMS URBAN OASIS Condominium 99 years April 14, 2018 1,442 2,270,400 1,574 2017 New Sale THE BENCOOLEN Apartment 99 years April 10, 2018 1,044 1,350,000 1,293 1999 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 14, 2018 678 1,385,000 2,042 Uncompleted New Sale District 8 PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 14, 2018 1,087 1,850,000 1,702 Uncompleted New Sale KERRISDALE Condominium 99 years April 12, 2018 990 1,150,000 1,161 2005 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 13, 2018 484 1,030,000 2,126 Uncompleted New Sale 30 BRISTOL ROAD Apartment Freehold April 11, 2018 1,259 1,448,000 1,150 1997 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 13, 2018 678 1,445,000 2,131 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years April 10, 2018 1,302 1,793,000 1,377 Uncompleted New Sale AVANT AT ALJUNIED Apartment 99 years April 13, 2018 527 816,600 1,548 2012 Resale District 9 EUHABITAT Condominium 99 years April 13, 2018 1,012 1,080,000 1,067 2015 Resale VIVACE Apartment 999 years April 17, 2018 398 850,800 2,136 2012 Resale STARVILLE Condominium Freehold April 13, 2018 538 660,000 1,226 2006 Resale URBAN SUITES Condominium Freehold April 16, 2018 1,044 3,200,000 3,065 2013 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 12, 2018 1,163 2,045,000 1,759 Uncompleted New Sale THE PIER AT ROBERTSON Apartment Freehold April 16, 2018 657 1,280,000 1,949 2006 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 12, 2018 667 1,380,000 2,068 Uncompleted New Sale SOPHIA RESIDENCE Condominium Freehold April 16, 2018 1,453 2,300,000 1,583 2014 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 12, 2018 667 1,430,000 2,143 Uncompleted New Sale WILKIE REGENCY Apartment Freehold April 13, 2018 850 1,150,000 1,352 2002 Resale AVANT AT ALJUNIED Apartment 99 years April 12, 2018 377 664,800 1,765 2012 Resale HILLTOPS Condominium Freehold April 13, 2018 829 2,678,000 3,231 2011 Resale AVANT AT ALJUNIED Apartment 99 years April 12, 2018 527 811,300 1,538 2012 Resale SOPHIA RESIDENCE Condominium Freehold April 13, 2018 1,432 2,290,000 1,600 2014 Resale AVANT AT ALJUNIED Apartment 99 years April 12, 2018 538 838,900 1,559 2012 Resale LANGSTON VILLE Apartment 999 years April 13, 2018 936 1,480,000 1,580 2000 Resale SUITES@CHANGI Apartment Freehold April 12, 2018 441 608,000 1,378 2012 Resale ASPEN HEIGHTS Condominium 999 years April 13, 2018 1,324 2,388,000 1,804 1998 Resale WATERBANK AT DAKOTA Condominium 99 years April 12, 2018 1,184 1,868,000 1,578 2013 Resale RHAPSODY ON MOUNT ELIZABETH Apartment Freehold April 12, 2018 2,540 4,180,800 1,646 2010 Resale CASA AERATA Apartment Freehold April 12, 2018 420 570,000 1,358 2012 Resale VILLE ROYALE Condominium Freehold April 12, 2018 1,044 1,720,000 1,647 1993 Resale AVANT AT ALJUNIED Apartment 99 years April 12, 2018 527 800,800 1,518 2012 Resale NEW FUTURA Condominium Freehold April 12, 2018 1,098 3,912,000 3,563 2017 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 11, 2018 484 1,075,000 2,219 Uncompleted New Sale TRIBECA Condominium Freehold April 12, 2018 1,765 3,330,000 1,886 2010 Resale ASTORIA PARK Condominium 99 years April 11, 2018 1,195 1,200,000 1,004 1995 Resale WATERSCAPE AT CAVENAGH Apartment Freehold April 11, 2018 1,313 2,425,000 1,847 2014 Resale NICOLE GREEN Apartment Freehold April 11, 2018 2,228 1,950,000 875 2002 Resale SOPHIA HILLS Condominium 99 years April 10, 2018 958 2,214,000 2,311 2018 New Sale SILVERSCAPE Apartment Freehold April 11, 2018 409 565,000 1,381 2015 Resale ESTILO Apartment Freehold April 10, 2018 581 930,000 1,600 2010 Resale BAODE BUILDING Apartment Freehold April 11, 2018 1,216 1,330,000 1,093 1991 Resale MARTIN MODERN Condominium 99 years April 10, 2018 764 2,110,300 2,761 Uncompleted New Sale LA FLEUR Apartment Freehold April 11, 2018 420 525,000 1,251 2014 Resale HELIOS RESIDENCES Apartment Freehold April 10, 2018 1,313 3,050,000 2,323 2011 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 10, 2018 678 1,345,000 1,983 Uncompleted New Sale STARLIGHT SUITES Apartment Freehold April 10, 2018 1,076 1,800,000 1,672 2014 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years April 10, 2018 667 1,430,000 2,143 Uncompleted New Sale SCOTTS SQUARE Apartment Freehold April 10, 2018 947 2,900,000 3,062 2011 Resale THE NAVIAN Apartment Freehold April 10, 2018 904 1,444,000 1,597 Uncompleted New Sale MOUNT SOPHIA SUITES Apartment Freehold April 10, 2018 495 860,000 1,737 2010 Resale District 15 District 10 THE SHORE RESIDENCES Condominium 103 years April 17, 2018 1,055 1,630,000 1,545 2014 Resale FOUR SEASONS PARK Condominium Freehold April 16, 2018 2,260 5,500,000 2,433 1994 Resale CASA AROMA Apartment Freehold April 16, 2018 1,012 1,050,000 1,038 2003 Resale DLV. Apartment Freehold April 16, 2018 786 1,180,000 1,502 2005 Resale PARK EAST Condominium Freehold April 16, 2018 1,701 2,010,000 1,182 1994 Resale QUINTERRA Apartment 99 years April 16, 2018 1,679 1,910,000 1,137 2009 Resale SEASIDE RESIDENCES Apartment 99 years April 15, 2018 592 986,000 1,665 Uncompleted New Sale ONE JERVOIS Condominium Freehold April 16, 2018 1,087 1,850,000 1,702 2009 Resale SEASIDE RESIDENCES Apartment 99 years April 15, 2018 560 985,000 1,760 Uncompleted New Sale ONE JERVOIS Condominium Freehold April 16, 2018 1,281 2,480,000 1,936 2009 Resale SEASIDE RESIDENCES Apartment 99 years April 14, 2018 560 985,000 1,760 Uncompleted New Sale CYAN Condominium Freehold April 16, 2018 678 1,350,000 1,991 2014 Resale SEASIDE RESIDENCES Apartment 99 years April 14, 2018 1,130 1,780,000 1,575 Uncompleted New Sale PARKSUITES Apartment 110 years April 14, 2018 786 1,650,490 2,036 Uncompleted New Sale DE CASALLE Apartment Freehold April 13, 2018 936 963,000 1,028 1996 Resale FONTANA HEIGHTS Condominium Freehold April 12, 2018 3,455 4,900,000 1,418 1985 Resale FOWLIE ROAD Terrace Freehold April 13, 2018 1,615 2,800,000 1,735 1985 Resale VIZ AT HOLLAND Condominium Freehold April 12, 2018 861 1,410,000 1,637 2008 Resale LE CONNEY PARK Apartment Freehold April 13, 2018 990 968,000 977 1995 Resale 72 GRANGE ROAD Apartment Freehold April 12, 2018 3,854 7,300,000 1,894 1995 Resale ONAN SUITES Apartment Freehold April 13, 2018 818 980,000 1,198 2012 Resale ESTRIVILLAS Semi-Detached Freehold April 12, 2018 6,275 3,428,000 546 2013 Resale THE SHORE RESIDENCES Condominium 103 years April 12, 2018 1,292 2,000,000 1,548 2014 Resale DUCHESS CREST Condominium 99 years April 11, 2018 1,346 1,850,000 1,375 1998 Resale NEPTUNE COURT Apartment 99 years April 12, 2018 1,636 1,448,000 885 1975 Resale THE TESSARINA Condominium Freehold April 11, 2018 1,033 1,800,000 1,742 2003 Resale THE MEYERISE Condominium Freehold April 12, 2018 1,270 2,350,000 1,850 2014 Resale QUINTERRA Apartment 99 years April 10, 2018 1,679 1,980,000 1,179 2009 Resale SUNNY PALMS Condominium Freehold April 12, 2018 3,649 2,530,000 693 2004 Resale D’LEEDON Condominium 99 years April 10, 2018 1,033 1,670,000 1,616 2014 Resale THE AMBRA Apartment Freehold April 12, 2018 840 965,000 1,149 2010 Resale District 11 NEPTUNE COURT Apartment 99 years April 11, 2018 1,636 1,480,000 905 1975 Resale MOUNT ROSIE ROAD Semi-Detached Freehold April 16, 2018 4,855 3,400,000 700 2009 Resale CAMELOT BY-THE-WATER Condominium 99 years April 11, 2018 2,874 4,454,700 1,550 2000 Resale SKY@ELEVEN Condominium Freehold April 13, 2018 2,820 4,400,000 1,560 2010 Resale RIVEREDGE Condominium 99 years April 11, 2018 1,679 2,428,000 1,446 2008 Resale CUBE 8 Condominium Freehold April 13, 2018 1,421 2,200,000 1,548 2013 Resale VERSILIA ON HAIG Condominium Freehold April 11, 2018 1,130 1,550,000 1,371 2010 Resale RESIDENCES @ EVELYN Condominium Freehold April 13, 2018 1,539 3,100,000 2,014 2007 Resale BELLA CASITA Apartment Freehold April 11, 2018 463 690,000 1,491 2012 Resale GOLDHILL GARDENS Terrace Freehold April 13, 2018 2,756 5,400,000 1,961 1996 Resale THE SEAWIND Condominium Freehold April 11, 2018 915 1,495,888 1,635 2015 Resale NINETEEN SHELFORD ROAD Condominium Freehold April 13, 2018 947 1,550,000 1,636 1997 Resale PALAZZETTO Apartment Freehold April 10, 2018 818 1,198,000 1,464 2002 Resale JALAN SENI Semi-Detached Freehold April 13, 2018 3,261 5,750,000 1,762 1968 Resale District 16 THE ANSLEY Condominium Freehold April 13, 2018 1,012 1,500,000 1,482 2004 Resale BAYSHORE PARK Condominium 99 years April 17, 2018 2,196 2,300,000 1,047 1986 Resale 26 NEWTON Apartment Freehold April 13, 2018 614 1,701,899 2,774 2016 Resale THE CLEARWATER Condominium 99 years April 16, 2018 1,905 1,480,000 777 2001 Resale NEWTON IMPERIAL Apartment Freehold April 12, 2018 1,938 3,310,000 1,708 2011 Resale GRANDEUR PARK RESIDENCES Condominium 99 years April 13, 2018 624 1,129,000 1,808 Uncompleted New Sale DALKEITH ROAD Detached Freehold April 12, 2018 5,016 9,100,000 1,814 1997 Resale GRANDEUR PARK RESIDENCES Condominium 99 years April 13, 2018 893 1,304,112 1,460 Uncompleted New Sale MIRO Apartment Freehold April 12, 2018 1,959 3,000,000 1,531 2012 Resale GRANDEUR PARK RESIDENCES Condominium 99 years April 13, 2018 1,259 1,901,000 1,509 Uncompleted New Sale ROSEVALE Apartment Freehold April 12, 2018 1,313 2,200,000 1,675 2001 Resale GRANDEUR PARK RESIDENCES Condominium 99 years April 13, 2018 1,453 2,133,000 1,468 Uncompleted New Sale M21 Apartment Freehold April 12, 2018 1,346 1,900,000 1,412 2010 Resale JALAN ANGIN LAUT Semi-Detached Freehold April 13, 2018 3,563 3,500,000 983 1991 Resale NINETEEN SHELFORD ROAD Condominium Freehold April 12, 2018 947 1,380,000 1,457 1997 Resale TANAH MERAH GREEN Terrace 99 years April 13, 2018 1,679 1,851,000 1,105 2000 Resale SKY@ELEVEN Condominium Freehold April 11, 2018 1,851 3,288,888 1,776 2010 Resale THE SUMMIT Condominium Freehold April 12, 2018 1,238 1,600,000 1,293 1992 Resale THE LINCOLN RESIDENCES Condominium Freehold April 11, 2018 1,841 3,200,000 1,739 2011 Resale GRANDEUR PARK RESIDENCES Condominium 99 years April 11, 2018 1,130 1,649,112 1,459 Uncompleted New Sale THE THOMSON DUPLEX Apartment Freehold April 10, 2018 2,110 2,730,000 1,294 2010 Resale OPTIMA @ TANAH MERAH Condominium 99 years April 11, 2018 850 1,038,000 1,221 2012 Resale DERBYSHIRE HEIGHTS Apartment Freehold April 10, 2018 1,292 1,750,000 1,355 2004 Resale EAST COAST RESIDENCES Apartment Freehold April 11, 2018 872 1,135,000 1,302 2011 Resale District 12 ARCHIPELAGO Condominium 99 years April 10, 2018 829 1,100,000 1,327 2015 Resale D’LOTUS Apartment Freehold April 17, 2018 1,066 1,100,000 1,032 2008 Resale THE BAYSHORE Condominium 99 years April 10, 2018 1,012 945,000 934 1996 Resale RITZ MANSIONS Apartment Freehold April 16, 2018 1,281 1,500,000 1,171 1995 Resale BAYSHORE PARK Condominium 99 years April 10, 2018 936 860,000 918 1986 Resale KALLANG RIVERSIDE Apartment Freehold April 15, 2018 1,033 2,205,683 2,135 Uncompleted New Sale OPTIMA @ TANAH MERAH Condominium 99 years April 10, 2018 872 1,065,000 1,221 2012 Resale KALLANG RIVERSIDE Apartment Freehold April 14, 2018 1,141 2,475,366 2,170 Uncompleted New Sale District 17 KALLANG RIVERSIDE Apartment Freehold April 14, 2018 1,141 2,417,000 2,118 Uncompleted New Sale LOYANG VILLAS Terrace 99 years April 17, 2018 2,863 1,675,000 586 1995 Resale KALLANG RIVERSIDE Apartment Freehold April 14, 2018 1,432 3,117,772 2,178 Uncompleted New Sale CARISSA PARK CONDOMINIUM Condominium Freehold April 16, 2018 1,324 1,096,600 828 2001 Resale GEM RESIDENCES Condominium 99 years April 13, 2018 1,313 1,979,010 1,507 Uncompleted New Sale CASA PASIR RIS Condominium 946 years April 13, 2018 1,098 830,000 756 1997 Resale TOPAZ MANSIONS Apartment Freehold April 13, 2018 1,055 1,000,000 948 1993 Resale ASTON RESIDENCE Detached 946 years April 13, 2018 4,682 2,200,000 470 2010 Resale EIGHT RIVERSUITES Condominium 99 years April 12, 2018 441 755,000 1,711 2016 Resale AZALEA PARK CONDOMINIUM Condominium 999 years April 13, 2018 1,507 1,200,000 796 1996 Resale CHELSEA GROVE Apartment Freehold April 12, 2018 958 1,080,000 1,127 2007 Resale THE INFLORA Condominium 99 years April 11, 2018 463 556,000 1,201 2016 Resale THE RICHMOND Apartment Freehold April 12, 2018 1,238 1,300,000 1,050 1999 Resale CARISSA PARK CONDOMINIUM Condominium Freehold April 11, 2018 1,302 1,080,000 829 2001 Resale CITY SUITES Apartment Freehold April 11, 2018 527 967,000 1,833 2017 New Sale HEDGES PARK CONDOMINIUM Condominium 99 years April 11, 2018 872 810,000 929 2015 Resale KALLANG RIVERSIDE Apartment Freehold April 11, 2018 1,141 2,518,000 2,207 Uncompleted New Sale EDELWEISS PARK CONDOMINIUM Condominium Freehold April 10, 2018 915 780,000 853 2006 Resale TRELLIS TOWERS Condominium Freehold April 10, 2018 1,647 2,030,000 1,233 2000 Resale THE EDGEWATER Condominium Freehold April 10, 2018 1,001 828,000 827 2003 Resale D’MIRA Apartment Freehold April 10, 2018 1,507 1,750,000 1,161 2012 Resale District 18 EASTPOINT GREEN Condominium 99 years April 17, 2018 958 740,000 772 1999 Resale CITY SUITES Apartment Freehold April 10, 2018 527 956,000 1,813 2017 New Sale WATERVIEW Condominium 99 years April 16, 2018 1,421 1,350,000 950 2014 Resale CITY SUITES Apartment Freehold April 10, 2018 527 959,000 1,818 2017 New Sale D’NEST Condominium 99 years April 16, 2018 484 618,000 1,276 2017 Resale CITY SUITES Apartment Freehold April 10, 2018 527 949,000 1,799 2017 New Sale THE TAPESTRY Condominium 99 years April 15, 2018 474 694,980 1,467 Uncompleted New Sale CITY SUITES Apartment Freehold April 10, 2018 527 999,000 1,894 2017 New Sale THE TAPESTRY Condominium 99 years April 15, 2018 603 838,400 1,391 Uncompleted New Sale District 13 THE TAPESTRY Condominium 99 years April 15, 2018 441 653,670 1,481 Uncompleted New Sale WAN THO LODGE Apartment Freehold April 12, 2018 1,152 1,225,000 1,064 1966 Resale JALAN WANGI Terrace Freehold April 12, 2018 1,894 2,320,000 1,223 Unknown Resale CONTINUES NEXT PAGE EP12 • EDGEPROP | APRIL 30, 2018 DONE DEALS

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Residential transactions with contracts dated April 10 to 17

LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE THE TAPESTRY Condominium 99 years April 15, 2018 990 1,287,090 1,300 Uncompleted New Sale THE HILLSIDE Condominium Freehold April 16, 2018 1,313 1,430,000 1,089 2001 Resale THE TAPESTRY Condominium 99 years April 15, 2018 1,432 1,690,470 1,181 Uncompleted New Sale GARDENVISTA Condominium 99 years April 13, 2018 1,346 1,770,000 1,315 2006 Resale THE TAPESTRY Condominium 99 years April 15, 2018 990 1,283,040 1,296 Uncompleted New Sale GARDENVISTA Condominium 99 years April 13, 2018 1,141 1,490,000 1,306 2006 Resale THE TAPESTRY Condominium 99 years April 14, 2018 603 800,800 1,329 Uncompleted New Sale ENG KONG PLACE Semi-Detached 99 years April 12, 2018 2,153 2,450,000 1,136 1995 Resale THE TAPESTRY Condominium 99 years April 14, 2018 603 913,680 1,516 Uncompleted New Sale THE HILLSIDE Condominium Freehold April 12, 2018 1,528 1,770,000 1,158 2001 Resale THE TAPESTRY Condominium 99 years April 14, 2018 700 939,600 1,343 Uncompleted New Sale SYMPHONY HEIGHTS Condominium Freehold April 11, 2018 1,281 1,300,000 1,015 1998 Resale LIVIA Condominium 99 years April 13, 2018 1,539 1,290,000 838 2011 Resale THE BEVERLY Apartment Freehold April 11, 2018 1,119 1,500,000 1,340 2012 Resale WATERVIEW Condominium 99 years April 13, 2018 1,130 1,100,000 973 2014 Resale 1 KING ALBERT PARK Condominium Freehold April 10, 2018 1,442 1,700,000 1,179 1997 Resale ARC AT TAMPINES EC 99 years April 13, 2018 775 730,000 942 2014 Resale District 22 THE PALETTE Condominium 99 years April 13, 2018 1,152 1,150,000 998 2015 Resale THE CENTRIS Apartment 99 years April 12, 2018 1,259 1,380,000 1,096 2009 Resale D’NEST Condominium 99 years April 12, 2018 753 845,000 1,121 2017 Resale THE LAKESHORE Condominium 99 years April 12, 2018 1,109 1,130,000 1,019 2007 Resale LIVIA Condominium 99 years April 12, 2018 1,539 1,400,000 910 2011 Resale YUNNAN GARDENS Terrace Freehold April 11, 2018 2,551 2,500,000 980 2000 Resale DOUBLE BAY RESIDENCES Condominium 99 years April 12, 2018 1,324 1,330,000 1,005 2012 Resale District 23 THE PALETTE Condominium 99 years April 11, 2018 1,163 1,180,000 1,015 2015 Resale THE TENNERY Apartment 99 years April 13, 2018 883 943,888 1,069 2014 Resale THE TAPESTRY Condominium 99 years April 11, 2018 1,432 1,715,580 1,198 Uncompleted New Sale ECO SANCTUARY Condominium 99 years April 13, 2018 980 1,230,000 1,256 2016 Resale THE TAPESTRY Condominium 99 years April 11, 2018 474 689,310 1,455 Uncompleted New Sale HILLINGTON GREEN Condominium 999 years April 13, 2018 1,528 1,600,000 1,047 2002 Resale SEA ESTA Condominium 99 years April 10, 2018 1,119 1,068,000 954 2015 Resale THE HILLIER Apartment 99 years April 13, 2018 592 750,000 1,267 2016 Resale CHANGI RISE CONDOMINIUM Condominium 99 years April 10, 2018 1,259 978,000 777 2004 Resale MERA GARDENS Terrace 99 years April 12, 2018 1,733 1,800,000 1,042 1998 Resale MY MANHATTAN Condominium 99 years April 10, 2018 861 1,130,000 1,312 2014 Resale THE DEW EC 99 years April 12, 2018 1,313 1,038,000 790 2003 Resale THE PALETTE Condominium 99 years April 10, 2018 893 920,000 1,030 2015 Resale GUILIN VIEW Condominium 99 years April 12, 2018 1,281 950,000 742 2000 Resale D’NEST Condominium 99 years April 10, 2018 753 820,000 1,088 2017 Resale MI CASA Condominium 99 years April 12, 2018 1,238 1,010,000 816 2012 Resale RIS GRANDEUR Condominium Freehold April 10, 2018 1,539 1,350,000 877 2005 Resale WINDERMERE EC 99 years April 12, 2018 1,281 875,000 683 1999 Resale NV RESIDENCES Condominium 99 years April 10, 2018 1,184 1,030,000 870 2013 Resale FORESQUE RESIDENCES Condominium 99 years April 12, 2018 1,238 1,360,000 1,099 2014 Resale MELVILLE PARK Condominium 99 years April 10, 2018 936 650,000 694 1996 Resale HAZEL PARK CONDOMINIUM Condominium 999 years April 11, 2018 1,335 1,400,000 1,049 2000 Resale WATERVIEW Condominium 99 years April 10, 2018 1,130 1,205,000 1,066 2014 Resale CHANTILLY RISE Condominium Freehold April 10, 2018 1,249 1,215,000 973 1998 Resale THE TAPESTRY Condominium 99 years April 10, 2018 603 879,660 1,459 Uncompleted New Sale ESPA Condominium 999 years April 10, 2018 1,442 1,730,000 1,199 2009 Resale THE TAPESTRY Condominium 99 years April 10, 2018 603 802,400 1,331 Uncompleted New Sale NORTHVALE Apartment 99 years April 10, 2018 1,270 948,000 746 1998 Resale THE TAPESTRY Condominium 99 years April 10, 2018 1,432 1,696,950 1,185 Uncompleted New Sale THE SKYWOODS Condominium 99 years April 10, 2018 1,346 1,750,000 1,301 2016 Sub Sale District 19 District 25 WATERTOWN Apartment 99 years April 17, 2018 527 745,000 1,412 2017 Sub Sale NORTHWAVE EC 99 years April 15, 2018 1,001 800,000 799 Uncompleted New Sale CASA CAMBIO Condominium Freehold April 17, 2018 710 1,050,000 1,478 2014 Resale NORTHWAVE EC 99 years April 14, 2018 1,001 836,000 835 Uncompleted New Sale RIVER ISLES Condominium 99 years April 16, 2018 1,249 1,170,000 937 2015 Resale PARC ROSEWOOD Condominium 99 years April 13, 2018 1,701 1,180,000 694 2014 Resale REGENTVILLE Apartment 99 years April 16, 2018 1,152 878,000 762 1999 Resale NORTHWAVE EC 99 years April 13, 2018 893 804,000 900 Uncompleted New Sale COMPASS HEIGHTS Apartment 99 years April 16, 2018 1,055 885,000 839 2002 Resale NORTHWAVE EC 99 years April 12, 2018 1,001 810,000 809 Uncompleted New Sale RIVERCOVE RESIDENCES* EC 99 years April 15, 2018 1,163 1,071,700 922 Uncompleted New Sale NORTHOAKS EC 99 years April 11, 2018 1,292 803,800 622 2000 Resale RIVERCOVE RESIDENCES EC 99 years April 15, 2018 1,216 1,186,200 975 Uncompleted New Sale NORTHWAVE EC 99 years April 10, 2018 1,119 948,000 847 Uncompleted New Sale RIVERCOVE RESIDENCES EC 99 years April 15, 2018 958 994,300 1,038 Uncompleted New Sale THE WOODGROVE Apartment 99 years April 10, 2018 926 665,000 718 1998 Resale RIVERCOVE RESIDENCES EC 99 years April 15, 2018 1,076 987,300 917 Uncompleted New Sale District 26 RIVERCOVE RESIDENCES EC 99 years April 15, 2018 958 920,300 961 Uncompleted New Sale THE SPRINGSIDE Terrace Freehold April 16, 2018 1,948 2,985,000 1,533 2016 Resale RIVERCOVE RESIDENCES EC 99 years April 15, 2018 1,076 1,070,300 994 Uncompleted New Sale THE SPRINGSIDE Terrace Freehold April 13, 2018 2,530 3,450,000 1,362 2016 Resale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 985,000 1,028 Uncompleted New Sale THE BROOKS I Apartment Freehold April 12, 2018 1,152 1,221,000 1,060 2016 Resale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 992,300 1,036 Uncompleted New Sale THE SPRINGSIDE Terrace Freehold April 12, 2018 2,013 3,030,000 1,509 2016 Resale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 996,800 1,041 Uncompleted New Sale BULLION PARK Condominium Freehold April 10, 2018 1,238 1,350,000 1,091 1993 Resale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 974,300 1,017 Uncompleted New Sale MEADOWS @ PEIRCE Condominium Freehold April 10, 2018 915 1,130,000 1,235 2012 Resale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 1,001,300 1,045 Uncompleted New Sale District 27 RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 961,800 1,004 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 886,500 807 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 998,900 1,043 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 857,000 781 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 1,012,800 1,057 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 851,000 775 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 924,800 965 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 854,500 778 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 957,200 999 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 844,500 769 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 942,800 984 Uncompleted New Sale PARC LIFE EC 99 years April 15, 2018 753 660,000 876 2018 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 924,800 965 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 853,000 777 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 965,300 1,008 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,076 846,500 786 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 974,300 1,017 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 15, 2018 1,098 875,500 797 2017 New Sale RIVERCOVE RESIDENCES EC 99 years April 14, 2018 958 960,800 1,003 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years April 14, 2018 1,098 853,000 777 2017 New Sale PARK VILLAS Terrace 99 years April 13, 2018 1,679 1,700,000 1,016 1997 Resale SIGNATURE AT YISHUN EC 99 years April 14, 2018 1,098 890,500 811 2017 New Sale RIVERSOUND RESIDENCE Condominium 99 years April 13, 2018 1,066 1,015,000 952 2015 Resale SIGNATURE AT YISHUN EC 99 years April 14, 2018 1,098 940,500 857 2017 New Sale KOVAN REGENCY Condominium 99 years April 13, 2018 980 1,400,000 1,429 2015 Resale SIGNATURE AT YISHUN EC 99 years April 14, 2018 1,098 875,500 797 2017 New Sale SERANGOON GARDEN ESTATE Terrace 999 years April 13, 2018 3,035 2,900,000 956 Unknown Resale PARC LIFE EC 99 years April 14, 2018 1,066 949,000 891 2018 New Sale PAYA LEBAR GARDENS Terrace Freehold April 13, 2018 1,302 1,808,000 1,389 1963 Resale PARC LIFE EC 99 years April 14, 2018 1,066 912,000 856 2018 New Sale SERANGOON GARDEN ESTATE Terrace 999 years April 12, 2018 2,799 2,950,000 1,054 Unknown Resale PARC LIFE EC 99 years April 14, 2018 1,066 906,000 850 2018 New Sale BOATHOUSE RESIDENCES Condominium 99 years April 12, 2018 915 905,000 989 2015 Resale THE SENSORIA Condominium Freehold April 12, 2018 1,076 948,000 881 2007 Resale VALVISTA Terrace 99 years April 12, 2018 1,733 2,100,000 1,210 2004 Resale EIGHT COURTYARDS Condominium 99 years April 12, 2018 452 540,000 1,194 2014 Resale THE TERRACE EC 99 years April 12, 2018 1,313 1,198,000 912 2017 Resale SIGNATURE AT YISHUN EC 99 years April 11, 2018 1,098 968,000 882 2017 New Sale WATERTOWN Apartment 99 years April 12, 2018 958 1,330,000 1,388 2017 Sub Sale WATERCOVE Terrace Freehold April 11, 2018 3,455 2,820,000 816 Uncompleted New Sale JALAN LABU AYER Semi-Detached Freehold April 12, 2018 3,606 3,500,000 971 Unknown Resale SIGNATURE AT YISHUN EC 99 years April 10, 2018 1,098 845,500 770 2017 New Sale LOWLAND ROAD Semi-Detached Freehold April 11, 2018 6,534 5,900,000 904 1983 Resale District 28 TANGERINE GROVE Condominium Freehold April 11, 2018 1,184 1,500,000 1,267 2007 Resale SELETAR HILLS ESTATE Semi-Detached Freehold April 16, 2018 3,488 3,280,000 941 Unknown Resale JANSEN 28 Apartment 999 years April 11, 2018 1,216 1,265,000 1,040 1999 Resale THE MORNING DEW Terrace 999 years April 16, 2018 1,851 2,338,000 1,262 2003 Resale CASA CAMBIO Condominium Freehold April 11, 2018 484 708,000 1,462 2014 Resale NIM COLLECTION Terrace 99 years April 15, 2018 1,970 2,780,000 1,411 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years April 11, 2018 689 1,001,000 1,453 Uncompleted New Sale NIM COLLECTION Terrace 99 years April 15, 2018 2,325 2,958,000 1,272 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years April 11, 2018 689 1,015,000 1,473 Uncompleted New Sale NIM COLLECTION Terrace 99 years April 15, 2018 4,090 3,980,000 973 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years April 10, 2018 850 1,154,000 1,357 Uncompleted New Sale PARC BOTANNIA Condominium 99 years April 15, 2018 1,410 1,673,000 1,186 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years April 10, 2018 689 1,014,000 1,472 Uncompleted New Sale PARC BOTANNIA Condominium 99 years April 15, 2018 581 819,000 1,409 Uncompleted New Sale THE SPRINGBLOOM Condominium 99 years April 10, 2018 1,432 1,600,000 1,118 1999 Resale PARC BOTANNIA Condominium 99 years April 15, 2018 581 826,000 1,421 Uncompleted New Sale THE SCALA Apartment 99 years April 10, 2018 904 1,330,000 1,471 2013 Resale PARC BOTANNIA Condominium 99 years April 15, 2018 1,249 1,531,000 1,226 Uncompleted New Sale THE MINTON Condominium 99 years April 10, 2018 936 900,000 961 2013 Resale PARC BOTANNIA Condominium 99 years April 15, 2018 872 1,179,112 1,352 Uncompleted New Sale REGENTVILLE Apartment 99 years April 10, 2018 1,076 850,000 790 1999 Resale PARC BOTANNIA Condominium 99 years April 14, 2018 506 640,000 1,265 Uncompleted New Sale District 20 PARC BOTANNIA Condominium 99 years April 14, 2018 1,152 1,485,000 1,289 Uncompleted New Sale RED BRICK VILLAS Semi-Detached Freehold April 17, 2018 4,456 4,050,000 908 1990 Resale NIM COLLECTION Terrace 99 years April 14, 2018 1,615 2,838,000 1,758 Uncompleted New Sale THE GARDENS AT BISHAN Condominium 99 years April 16, 2018 883 953,000 1,080 2004 Resale PARC BOTANNIA Condominium 99 years April 13, 2018 506 643,000 1,271 Uncompleted New Sale HORIZON GARDENS Terrace 99 years April 13, 2018 2,906 1,860,000 640 2002 Resale PARC BOTANNIA Condominium 99 years April 13, 2018 506 702,000 1,388 Uncompleted New Sale SKY HABITAT Condominium 99 years April 13, 2018 1,302 1,967,800 1,511 2015 Resale H2O RESIDENCES Condominium 99 years April 12, 2018 883 900,000 1,020 2015 Resale THOMSON THREE Apartment 99 years April 13, 2018 732 1,135,000 1,551 2016 Resale SUNRISE VILLA Terrace Freehold April 12, 2018 1,711 2,788,000 1,628 1988 Resale BISHAN LOFT EC 99 years April 12, 2018 1,399 1,558,888 1,114 2003 Resale PARC BOTANNIA Condominium 99 years April 12, 2018 581 815,000 1,402 Uncompleted New Sale SKY HABITAT Condominium 99 years April 12, 2018 1,765 2,289,900 1,297 2015 Resale HOCK SWEE HILL Semi-Detached Freehold April 11, 2018 4,370 4,379,000 1,001 1979 Resale THOMSON V TWO Apartment Freehold April 12, 2018 743 925,000 1,245 2012 Resale SELETAR SPRINGS CONDOMINIUM Condominium 99 years April 11, 2018 1,270 854,800 673 2000 Resale SOO CHOW WALK Terrace Freehold April 12, 2018 2,336 3,100,000 1,327 Unknown Resale SELETAR HILLS ESTATE Terrace 999 years April 11, 2018 2,164 2,950,000 1,366 Unknown Resale RAFFLESIA CONDOMINIUM Condominium 99 years April 11, 2018 1,195 1,400,000 1,172 2003 Resale PARC BOTANNIA Condominium 99 years April 11, 2018 506 644,000 1,273 Uncompleted New Sale THOMSON THREE Apartment 99 years April 11, 2018 1,485 2,238,000 1,507 2016 Resale PARC BOTANNIA Condominium 99 years April 11, 2018 592 844,000 1,426 Uncompleted New Sale SKY VUE Condominium 99 years April 10, 2018 678 1,190,000 1,755 2016 Resale ESTE VILLA Terrace Freehold April 10, 2018 3,423 2,400,000 701 2013 Resale BISHAN POINT Condominium 99 years April 10, 2018 936 1,100,000 1,175 2005 Resale RIVERBANK @ FERNVALE Condominium 99 years April 10, 2018 495 580,000 1,171 2017 Sub Sale BISHAN POINT Condominium 99 years April 10, 2018 936 1,100,000 1,175 2005 Resale NIM COLLECTION Terrace 99 years April 10, 2018 1,905 2,762,000 1,450 Uncompleted New Sale District 21 LORONG KISMIS Detached Freehold April 17, 2018 8,622 9,000,000 1,044 1983 Resale DISCLAIMER: LE WOOD Condominium 99 years April 16, 2018 1,249 895,000 717 2000 Resale Source: URA Realis. Updated April 24, 2018. The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein. SPRINGDALE CONDOMINIUM Condominium 99 years April 16, 2018 1,259 1,320,000 1,048 1998 Resale EC stands for executive condominium PANDAN VALLEY Condominium Freehold April 16, 2018 1,335 1,658,000 1,242 1978 Resale * Not all the 497 caveats for Rivercove Residences were reflected EDGEPROP | APRIL 30, 2018 • EP13 DEAL WATCH

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Four-bedroom unit at The Ritz-Carlton Residences Singapore for sale at $11 mil

| BY BONG XIN YING | ple-property portfolio. “This is just one The latest transaction of a four-bed- of them,” says Jaime Lim, a PropNex room unit at The Ritz-Carlton Residenc- 3,057 sq ft, four-bedroom Realty manager who is marketing the es was that of a 31st-floor unit that unit at luxury condominium unit. It is currently tenanted at the pre- was sold for $11.48 million ($3,755 psf The Ritz-Carlton Residences vailing market rent of $20,000 to $22,000 at the beginning of 2018. A three-bed- Singa pore is on the market at a month, she adds. room unit on the 19th floor also changed an asking price of $11 million According to Lim, the unit offers views hands in January and fetched $9 mil- A($3,599 psf). The partially furnished unit of the CBD all the way to Marina Bay Sands lion ($3,179 psf). on the 28th floor of the 36-storey tower and Gardens by the Bay. It boasts a ceil- Given that new luxury condos such is being sold with an existing tenancy. ing height of 3.1m and designer fittings as New Futura are being sold at prices The Ritz-Carlton Residences is a 58-unit and appliances. All four bedrooms are en above $3,500 psf, investors can see the boutique condo that sits on a 50,000 sq ft suite. In addition to 24-hour concierge ser- value of buying a unit at The Ritz-Carl- plot. It was developed by KOP Properties vice at the boutique condo, residents will ton Residences, which is a five-star ho- and completed in 2013. Typical units are also enjoy special privileges at Ritz-Carl- tel branded develop- three-bedroom apartments of 2,831 sq ft ton hotels worldwide. ment, says Lim. and four-bedroom apartments of 3,057 The condo is located on Cairnhill The four-bedroom sq ft. There are only two units per floor Road, just a short distance from the Or- unit at The Ritz-Carl- and they come with private lift access. chard Road shopping belt, with the CBD ton Residences will When the project was first previewed and Marina Bay just a five- to 10-min- be put up for auc- At The Ritz-Carlton Residences, high-floor units are going for above in December 2007, units were sold at ute drive away. tion on April 27. E $3,500 psf prices starting from $4,500 psf and hit TABLES: URA, EDGEPROP a high of $5,146 psf when a 3,057 sq ft, Recent rental contracts for units four-bedroom unit on the 31st floor was Recent transactions at Th e Ritz-Carlton sold for $15.73 million. The project was Residences Singapore of >3,000 sq ft at Th e Ritz-Carlton

relaunched in 2009 at prices starting from CONTRACT DATE AREA (SQ(SQ FT)FT) PRICE ($) PRICE ($($ PSF)PSF) Residences Singapore $3,000 psf, or above $9 million. Jan 22, 2018 2 2,831,831 9,000,000 3 3,179,179 LEASE DATE MONTHLY RENT ($) The owner of the unit that is up for December 2017 20,000 sale is a Singaporean who is believed Jan 2, 2018 3,0 3,05757 11,480,000 3, 3,755755 to have purchased the property in 2009 Nov 9, 2017 2,831 9,525,000 3,36 3,3655 August 2017 20,000 for $9.44 million ($3,087 psf). The own- May 30, 2017 2 2,831,831 9,115,820 3 3,220,220 March 2017 17,000 er is said to be an investor with a multi- May 30, 2017 3,574 12,859,252 3,59 3,5988 EP14 • EDGEPROP | APRIL 30, 2018

PROP HUNT CLASSIFIEDS

Properties for Sale and Lease Landed Condominium 3 Scan QR code for more details Ó To be featured, email [email protected] or call 6232-8663

$6,950,000 $6,500,000 $5,650,000 $4,580,000 Detached House Detached House Detached House Terrace House KINGSWEAR AVENUE | 999 years COTSWOLD CLOSE | Freehold JALAN LIMAU NIPIS | 999 years BORTHWICK DRIVE | 999 years Built-Up(sqft): 6,200 | Land(sqft): 4,700 Built-Up(sqft): 5,300 | Land(sqft): 4,430 Built-Up(sqft): 5,600 | Land(sqft): 4,538 Built-Up(sqft): 5,080 | Land(sqft): 2,799 PSF: $1,479 PSF: $1,467 PSF: $1,245 PSF: $1,636

A magnificent mansion at the hilltop that is in Move in condition, renovated and very well D16 corner detached house. Quiet park facing, Rare intermediate terrace with wide frontage. 2 tip-top condition. Designed to ensure maximum maintained. Good location near the junction of tranquil estate. Minutes walk to MRT station. storey + attic with 5 ensuite bedrooms and 1 maid comfort. The ceiling is all the way up at 4.5 metres. CTE and Braddell Road, and walking distance to Serious seller. room. Uniquely designed car porch and ample 6 generous-sized bedrooms. Lorong Chuan MRT station, No afternoon sun, window opening to enhance natural daylight. Just high ceiling, solid teak wood doors, new aircon etc. completed rebuilt with minor ID work to be done.

Kang Yang Peng Sidney Chia Victor The Henry Wong PROPNEX REALTY PTE LTD PROPNEX REALTY PTE LTD PROPNEX REALTY PTE LTD ORANGETEE & TIE PTE LTD R055898F R057717D R051175J R010571Z ™ 65 9731 4731 ™ 65 9635 0999 ™ 65 9799 3144 ™ 65 9005 5590

$5,000,000 $4,450,000 $2,638,800 $1,895,000 The Sail @ Marina Bay Skyline 360 @ St Thomas Walk Corals At Keppel Bay D'Leedon MARINA BOULEVARD, 018987 Singapore ST. THOMAS WALK, 238142 Singapore KEPPEL BAY DRIVE, 98012 Singapore LEEDON HEIGHTS, 267955 Singapore 99 years | Bedroom: 4 Freehold | Bedroom: 4 99 years | Bedroom: 3 99 years | Bedroom: 3 Size(sqft): 2,035 | PSF: $2,457 Size(sqft): 2,131 | PSF: $2,088 Size(sqft): 1,249 | PSF: $2,113 Size(sqft): 1,216 | PSF: $1,558

Super high floor, premium stack 06. Fantastic Rare Premium 4BR unit with spacious, single-level Squarish and functional 3-bedroom unit. 8 mins Prime District 10. Only $1,895m/1216sf/$1558psf 180deg view. Full condominium facilities. layout. Showroom decor that is 100% move-in- walk to Harbourfront MRT station. Near Vivo City, for 3 bedrooms in D10. 1KM to Nan Yang, Close to with-your-luggage-only condition. Harbourfront Centre and Queensway Shopping 3% gross yield. Greenery view. Centre.

Jane Ang Michelle Cheow Juliet Goh Peter Pang SAVILLS RESIDENTIAL PTE LTD SRI PTE LTD ORANGETEE & TIE PTE LTD ERA REALTY NETWORK PTE LTD R017391Z R016038I R020324Z R055027F ™ 65 9233 1289 ™ 65 9800 4495 ™ 65 9188 2268 ™ 65 9224 3737

$8,800/mth $3,000/mth $2,400/mth $2,100/mth New Futura V On Shenton Commonwealth Towers Okio LEONIE HILL ROAD, 239193 Singapore SHENTON WAY, 068814 Singapore COMMONWEALTH AVENUE, 149739 Singapore BALESTIER ROAD, 329714 Singapore Freehold | Bedroom: 2 99 years | Bedroom: 1 99 years | Bedroom: 1 Freehold | Bedroom: 1 Size(sqft): 1,367 | PSF: $6 Size(sqft): 474 | PSF: $6 Size(sqft): 441 | PSF: $5 Size(sqft): 420 | PSF: $5

2 bedrooms with balcony and private lift at New Brand new unit. 5 mins walk to Tanjong Pagar/ 1 min walk to Queenstown MRT station. Full condo Cosy 1-bedroom apartment with large balcony Futura. Fully air-conditioned. Partial furnished. Downtown MRT station. Various amenities facilities. Be the first tenant to move in. space. Near Whampoa Market and Whampoa Food nearby: Lau Pa Sat, Marina Bay Link Mall, Marina Center. High floor, unblock view, partial furnished. Bay Sands Shoppes, Gardens By The Bay, NTUC Quiet ambience. Direct buses to Orchard Road and Fairprice and Far East Square. Novena MRT station.

Marcus Ng Abigail Liau Juliet Goh Timothy Chew PROPNEX REALTY PTE LTD PROPNEX REALTY PTE LTD ORANGETEE & TIE PTE LTD ORANGETEE & TIE PTE LTD R009386Z R058758G R020324Z R021687B ™ 65 9327 4485 ™ 65 8686 3830 ™ 65 9188 2268 ™ 65 9178 1178