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Getting a Foothold on the ‘Island of the Gods’ from $200,000

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Getting a Foothold on the ‘Island of the Gods’ from $200,000 PROPERTY PERSONALISED MCI (P) 047/08/2018 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of March 11, 2019 | ISSUE 872-94 Market Trends Co-working Spotlight Done Deals Hong Kong & Singapore The Work Project's Capitol Kempinski Hotel – Unit at The Sea View Top 5 in wealth ranking exclusive workspaces the missing link in place fetches $1,900 psf EP4 EP6 EP7 EP12 Getting a foothold on the ‘Island of the Gods’ from $200,000 Genesis Indojaya, a property development group founded by Singaporeans Darren Chua and Remy Ng, is offering Singapore buyers first bite of an investment opportunity in Bali, with guaranteed rental returns of 5% per year over seven years. Turn to our Cover Story on Pages 8,9 & 10. CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park Genesis Indojaya will be launching its maiden project in Bali – Citadines Berawa Beach Bali EP2 • EDGEPROP | MARCH 11, 2019 PROPERTY BRIEFS CBRE CDL EDITORIAL EDITOR | Cecilia Chow DEPUTY EDITOR | Amy Tan WRITERS | Timothy Tay, Bong Xin Ying, Charlene Chin DIGITAL WRITER | Fiona Ho HEAD, COPY EDITING | Pek Tiong Gee COPY EDITOR | Rachel Heng PHOTO EDITOR | Samuel Isaac Chua PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | Yen Tan DESIGNER | Kim Sy ADVERTISING + MARKETING ADVERTISING SALES VICE-PRESIDENT, SALES & OPERATIONS | Diana Lim DEPUTY ACCOUNT DIRECTOR | Janice Zhu SENIOR ACCOUNT MANAGER | James Chua ACCOUNT MANAGER | Pang Kai Xin REGIONAL BUSINESS DEVELOPMENT MANAGER | Cole Tan HEAD OF MARKETING & BRANDING | The industrial development on 10 Jalan Kilang has a total gross floor City Developments purchased a 193,752 sq ft, freehold site at Monk Han YaoGuang area of 59,236 sq ft Bridge in Leeds, the UK CIRCULATION MANAGERS | Ashikin Kader, Industrial development first among its offerings in can expect to visit a cinema, include a residential compo- idential use, and has obtained Bryan Kek off Jalan Bukit Merah for Singapore with a sky terrace as well as popular brands and nent of 386,000 sq ft, and a approval from URA for hotel EXECUTIVE | Malliga Muthusamy sale from $20 mil and swimming pool, a gym, F&B outlets, some of which are commercial space of 16,000 use, at a gross plot ratio of 3.0. CORPORATE An eight-storey industrial de- and an open roof terrace over- new to Batam. sq ft. CDL intends to develop It occupies a site of 34,044 CHIEF EXECUTIVE OFFICER | velopment at 10 Jalan Kilang, looking the CBD skyline. The Facilities at Wunderbar Res- a 664-unit, build-to-rent resi- sq ft, and has a maximum Bernard Tong off Jalan Bukit Merah, is up for space boasts high ceilings and idences include a central park dential project with retail space gross floor area of 102,133 sq PUBLISHER sale with a guide price of $20 large windows, providing am- linking four residential towers, on the site. ft, which can yield up to 300 The Edge Property Pte Ltd million to $25 million. ple natural light. sporting facilities, and an infin- Sherman Kwek, CEO of CDL hotel rooms, each at a size of 150 Cecil Street #13-00 The development, with a The co-working space is ity pool which offers views of Group, says due to increased 215 sq ft. Singapore 069543 Tel: (65) 6232 8688 roof terrace and a basement an eight-minute walk to Ben- Singapore’s Marina Bay Sands labour mobility and the grow- Marine Parade MRT Station, Fax: (65) 6232 8620 carpark, has a total gross floor demeer MRT Station. It is 11 on a clear day, the company ing popularity of renting, there slated for completion in 2023, area of 59,236 sq ft. It occupies minutes by foot to Lavender highlights. is “strong growth potential” is four minutes away from Ka- PRINTER a 20,584 sq ft site that is zoned MRT Station. It is also near “We are also expecting many for the private rented sector. tong Plaza by foot. KHL Printing Co Pte Ltd 57 Loyang Drive for “Business 1” use with a plot the Central Expressway (CTE). Singaporeans to be interested “Brexit is expected to have The tender for Katong Pla- Singapore 508968 ratio of 2.5. The site has a bal- WeWork will open its next in purchasing units in Wun- limited impact on this sector za closes on April 9 at 3pm. Tel: (65) 6543 2222 ance lease of 42 years. location at the revamped Fu- derbar Residences. Meister- as demand is mainly driven Fax: (65) 6545 3333 The building is currently nan shopping mall, in the sec- stadt Batam is only a five-min- by locals,” he adds. JustCo pilots ‘tech- PERMISSION AND 80% tenanted to companies ond quarter of 2019. ute drive from Batam Centre The project is slated for com- enabled workspace’ at REPRINTS in the electronics, biomedical, Ferry Terminal,” says Po Sun pletion in 2023, at an estimat- Marina One Material in The Edge Property information technology, ship- Megamall set to open Kok, chairman of Pollux Group. ed total development cost of Co-working operator JustCo is may not be reproduced in any form without the written ping and trading sectors, says on Batam island, According to the company, £140 million. CDL expects an piloting a “tech-enabled mod- permission of the publisher Rimon Ambarchi, executive di- Indonesia 95% of the first three towers annual net yield of 5%. ern workspace” at its Marina rector of industrial and logis- Pollux Mall Batam is set to open of Wunderbar Residences have The site is a 10-minute walk One space. We welcome your comments tics services at CBRE, which is on Batam island, Indonesia. been sold and the final tower to Leeds Train Station, and two Through the JustCo App, and criticism: propertyeditor.sg@ marketing the property. The 860,000 sq ft megamall will be launched by end-March. kilometres to Leeds’ city cen- members will be able to book bizedge.com The property is located near is a part of the Meisterstadt Bat- tre. Leeds is two hours by train meeting rooms, manage guest the Ayer Rajah Expressway, am project, which will cover CDL buys prime freehold from London. invitations, and use a smart lock Pseudonyms are allowed but please state your full name, while Redhill MRT Station is over 8.6ha of land. The project site in Leeds, the UK, for to access meeting rooms. The address and contact number for 19 minutes away by foot. will also include eight residen- $27.5 mil Katong Plaza relaunched new mobile interface will allow us to verify. tial towers, a hotel, a hospital, Singapore-listed property group for collective sale at members to locate the nearest WeWork opens new space and a 350m-tall, 100-storey of- City Developments Ltd (CDL) $188 mil available meeting room, work in Jalan Besar fice building. has purchased a freehold site Katong Plaza has been re- desk, or a fellow colleague Co-working operator WeWork Pollux Habibie Internation- in Leeds, the UK, from Alpha launched for collective sale through an internal GPS system. has launched its latest space al, the company overseeing the Real Trust for £15.4 million at an unchanged asking price JustCo is partnering Aruba in ARC 380, a mixed-use com- project, aims to complete the ($27.5 million), or £80 psf. of $188 million, or $1,968 psf for the pilot. Aruba is a Hewl- mercial development at 380 construction of four residen- This marks an expansion by per plot ratio. The price in- ett Packard Enterprise company Jalan Besar. tial towers at Wunderbar Resi- CDL into the UK private rent- cludes a development charge providing IT solutions. – Com- WeWork 380 Jalan Besar is dences this year. The mall will ed sector. of $13 million. piled by Charlene Chin E WeWork’s first location out- be completed by the second The site at Monk Bridge Katong Plaza is on a site side the CBD, and also the quarter of 2020, and visitors spans 193,752 sq ft, and will zoned for commercial and res- WEWORK HUTTONS ASIA SENTOSA BUNGALOWS FOR SALE Seaview $18m/$29m, panaromic views, modern, bigger plots Golf and lakeviews - $10.8m /$16m/$18m/$20m - brand new and almost new Waterway Brand New-Star- buy units released. Optional ID. Fm $16m Unblocked Waterway $10.8m/ $18m/$20m/$24m for 50ft yacht Homes by award winning architects $18m-$25m, bespoke homes with exceptional views *And many more beautiful homes not to be missed. Serious and motivated sellers. ROWENA CHAN 90383166 (R051626C) WeWork 380 Jalan Besar is WeWork’s first location outside the CBD Katong Plaza occupies a site of 34,044 sq ft zoned for commercial and residential use Each Office is Independently Owned And Operated. EDGEPROP | MARCH 11, 2019 • EP3 PROPERTY OF THE WEEK One Draycott prices at an average of $3,500 psf, targets young buyers SELANGOR DREDGING | BY AMY TAN | room apartments spanning 18 storeys with and visitors will be welcomed by a pangolin sizes ranging from 732 to 1,346 sq ft. There sculpture. The scales of the pangolin are hand- he Ardmore Park area is synonymous with are four penthouses on the 18th floor: two of cut by Italian stonecutters. sizeable luxury apartments. Four-bedroom them are sized at 1,238 sq ft each and the oth- Each apartment will also be fitted with a Tunits at the landmark Ardmore Park con- er two are 1,346 sq ft each. handcrafted Lucerne stone wall installation at do where sizes are 2,885 sq ft each have been Launched in June last year, the units are the main entrance and oak facet installations.
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