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Federico Asaro, Founder and CEO of Samadhi Retreats, Talks About His

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Federico Asaro, Founder and CEO of Samadhi Retreats, Talks About His A PULLOUT WITH MCI (P) 043/03/2016 PPS 1519/09/2012 (022805) MAKE BETTER DECISIONS Visit TheEdgeProperty.com to find properties, research market trends and read the latest news THE WEEK OF JANUARY 16, 2017 | ISSUE 762 Your Neighbourhood Property Take Gains & Losses Done Deals Overlooked corner of Cushman & Wakefi eld on One Shenton, Seascape Sol Acres sees Singapore — Moonstone Singapore’s retail scene in the spotlight big pickup in sales Lane, St Michael’s area in 2017 and beyond EP9 EP10&11 EP4&5 EP8 Call of the jungle Federico Asaro, founder and CEO of Samadhi Retreats, talks about his new hotel in Labrador Park and expansion into new territories See our Cover Story on Pages 6 and 7. Villa Samadhi Singapore, a 20-room hotel on Labrador Villa Road in Labrador Park EP2 • THEEDGE SINGAPORE | JANUARY 16, 2017 PROPERTY BRIEFS EDITORIAL EDITOR | Ben Paul SIM LIAN THE EDGE PROPERTY CAPITALAND SECTION EDITOR | Cecilia Chow HEAD OF RESEARCH | Feily Sofi an DEPUTY SECTION EDITOR | Michael Lim SENIOR ANALYST | Lin Zhiqin ANALYST | Tan Chee Yuen COPY-EDITING DESK | Elaine Lim, Evelyn Tung, Chew Ru Ju, Tan Gim Ean, Geraldine Tan PHOTO EDITOR | Samuel Isaac Chua PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | Rahayu Mohamad DESIGN DESK | Tan Siew Ching, Christine Ong, Monica Lim, Mohd Yusry, Tun Mohd Zafi an Mohd Za’abah Hillion Mall to open Dec 30, while the residential International, cites two key rea- above ground and one at base- business of Mainboard-listed ADVERTISING + MARKETING its doors in February portion is expected to be com- sons for the strong interest: the ment level — with a gross floor Chip Eng Seng Corp. ADVERTISING SALES Residents of Bukit Panjang will pleted by September 2018. site’s proximity to the Farrer Park area (GFA) of 538,200 sq ft, ex- The group has an overseas DIRECTOR, ADVERTISING & SALES | have a new mall when Hillion MRT Station and its small and cluding the car park. According real estate presence in Austra- Cowie Tan Mall (above) opens for business Entire ground floor of manageable size, which makes to CMA, the mall is expected to lia, Maldives and Vietnam. It ASSOCIATE ACCOUNT DIRECTOR | Diana Lim on Feb 24. The dev elopment, Gemini @ Sims up for sale it less demanding on develop- be operational in 2019. has four ongoing residential ACCOUNT MANAGERS | which will have a two-storey Wenul Assets has put the entire ers’ resources. This deal follows CMA’s an- projects in Melbourne as well Priscilla Wong, James Chua retail podium and two retail ground floor of Gemini @ Sims “Given the current slow nouncement in August 2016 as a plot of land in Perth that THE EDGE SINGAPORE basement floors, is part of an (below) up for sale by expres- re sidential property market, that it is managing the retail is designated for commercial ADVERTISING + MARKETING integrated development and sion of interest (EOI). According land parcels with strong sell- component of Fortune Finance and residential development. ADVERTISING SALES transport hub that will cater to JLL, the appointed market- ing points and manageable Center in Changsha, for Chang- Chip Eng Seng also owns an in- CHIEF MARKETING OFFICER | to more than 220,000 residents ing agent, the guide price for size will attract many suitors,” sha Pilot Investment Holdings. vestment property — an office Cecilia Kay SENIOR MANAGERS | and 760,000 commuters. all 13 freehold Business 1 units Mak says. With the mall in La Bota nica, building at 420 St Kilda Road Windy Tan, Garry Lo The mall, developed by with a combined floor area of The Perumal Road site, with CMA now manages a portfolio in Melbourne. MANAGER | Sim Lian Group and Sim Lian 40,375 sq ft is $36.34 million room for 200 private apartments of 14 shopping malls in west- Prior to joining CEL Develop- Elaine Tan EVENTS Dev elopment, has a net lettable ($900 psf). and commercial space on the ern China with a combined ment, Ng was group general SENIOR MANAGER | area of 174,730 sq ft. Over 90% Wenul Assets is also open first floor, was expected to gar- retail GFA of about 12.16 mil- manager of UIC and its subsid- Sivam Kumar or more than 100 retail shops to buyers who are keen to buy ner keen interest when it was lion sq ft. iary, Singapore Land. MARKETING have been taken up. According individual or multiple units at released for sale last November. EXECUTIVE | Tim Jacobs to Sim Lian Group, about 30% the guide price of $900 psf. Unit “Developers are clearly look- Hyatt Hotels Corp inks COORDINATOR | of the mall will be dedicated to sizes range from 2,626 to 3,670 ing to replenish their depleting management contract IM SAVILLS Syazana Jumari F&B, and almost 45% of the re- sq ft. Gemini @ Sims, a sev- inventory and the Perumal Road with R&F Properties CIRCULATION tail space will be allocated to en-storey light industrial build- plot offers the added bonus of a R&F Properties has appointed BUSINESS DEVELOPMENT DIRECTOR | lifestyle stores. ing comprising 83 strata- titled small size and, therefore, an af- Hyatt Hotels Corp to manage Victor The The mall will offer Bukit units, is located at the corner fordable quantum of $174 mil- its hotel component at R&F EXECUTIVES | Malliga Muthusamy, Ashikin Kader, Panjang re sidents a range of of Sims Close and Lorong 17 lion,” says Desmond Sim, head Princess Cove, a mixed-use Winnie Lim cuisines, from Japanese to Geylang. The EOI will close on of CBRE Research for Singapore development in Johor Baru, Szechuan, anchor brands such Feb 24 at 3pm. and Southeast Asia. Malaysia. CORPORATE as FairPrice, which will be open R&F Princess Cove is Hong CHIEF EXECUTIVE OFFICER | Ben Paul DIRECTOR | Anne Tong 24 hours, and food court ope- Low Keng Huat CMA inks mall anagement Kong-based R&F Properties rator Kopitiam. submits top bid for contract in Xi’an, China Group’s first overseas invest- PUBLISHER The mall is located below the Perumal Road site CapitaLand Mall Asia has inked ment. The development will The Edge Publishing Pte Ltd 150 Cecil Street #08-01 546-unit Hillion Residences, ac- A total of 11 bids were received another shopping mall manage- be divided into four phases. Volker Wanka joins Savills Singapore 069543 cessible via lifts from the shop- for the Perumal Road site, with ment contract in Xi’an, its se cond Phase one will consist of over Investment Management Tel: (65) 6232 8622 ping area. It is also directly con- local construction firm Low in western China in five months. 3,000 luxury apartments in 15 Savills Investment Manage- Fax: (65) 6232 8620 nected to the Bukit Panjang MRT Keng Huat submitting the high- The new mall is located in La blocks, a shopping mall, a five- ment (Savills IM) has appoint- PRINTER station via an underpass. The est bid of $174 million, accord- Botanica (top right), a township star hotel and an office tower. ed Volker Wanka (above) as di- KHL Printing Co Pte Ltd Bukit Panjang LRT station is ing to the URA. in Xi’an’s Chan-Ba Ecological According to R&F Properties rector, fund management for 57 Loyang Drive nearby, as is a bus interchange. Low Keng Huat’s bid works District. It is being developed by Group, Phase 1 is expected to Singapore. Singapore 508968 Tel: (65) 6543 2222 Hillion Residences has three out to $1,000 per sq ft per plot CapitaLand- Henderson (Xi’an) be completed by 2018. Volker has over 12 years’ ex- Fax: (65) 6545 3333 residential blocks and a site area ratio, surpassing analysts’ expec- Property Development, a joint R&F Princess Cove sits on perience in real estate investment of 204,000 sq ft, with a land tations of bids ranging from $800 venture between CMA and Hong 116 acres of land with a gross management and fund manage- tenure of 99 years. Units range to $850 psf ppr. It was about 4% Kong-based Henderson Land. building area of 36 million sq ft. ment in Europe and Asia. Prior We welcome your comments and criticism: propertyeditor.sg@ from one-bedders from 463 sq higher than the $166.7 million Under the management con- to joining Savills IM Singapore, bizedge.com ft, to penthouses of 2,616 sq ft tabled by China Construction tract, CMA will oversee asset Michael Ng joins he was director of fund manage- or more. (South Pacific) Development. planning, pre-opening and retail Chip Eng Seng ment for Savills IM Frankfurt, Pseudonyms are allowed but please state your full name, The mall obtained its Tem- Nicholas Mak, head of re- management of the five- storey Property industry veteran where he was responsible for address and contact number for porary Occupation Permit last search and consultancy at SLP shopping mall — four levels Michael Ng Seng Tat (below) two Savills IM-managed Asian us to verify. has joined Chip Eng Seng Corp property funds. JLL as executive director of the Volker was based in Singa- group’s fully owned subsidiary pore from 2008 to 2014, where CEL Development, overseeing he was vice-pre sident, real es- its regional businesses. tate investments with SEB As- CEL Development is the set Management. He oversaw property investment, property acquisitions and dispositions development and hospitality across the commercial, retail, residential and hospitality sec- tors, with volume totalling over US$2.6 billion. In his new role, Volker will THE EDGE SINGAPORE lead the fund management and transaction activi ties for Savills IM’s Asia Property Fund 2 and Asia Pacific Fund, as well as help grow the firm’s portfolio in the region by taking charge of some of Savills IM’s upcom- ing Asian-themed products.
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