Month: February 2025

In the week of Feb 7 to Feb 14, Mandarin Gardens recorded the most lucrative resale deal. A 3,800 sq ft, four-bedroom unit at the development was sold for $4.88 million or $1,284 psf on Feb 11. Based on URA records, the eighth-floor unit was last sold for $1.05 million ($276 psf) in June 2003.

This translated to a profit of $3.83 million for the seller, which is 364.8% of the original purchase price. This means an annualised capital gain of 7.4% over 21½ years.

Located along Siglap Road in District 15, Mandarin Gardens consists of 17 blocks ranging from nine to 23-storeys tall (Photo: Samuel Issac Chua / EdgeProp Singapore)

This sale also set a new record for the most profitable transaction at Mandarin Gardens. The previous record was held by a 3,068 sq ft four-bedroom unit on the 20th floor, which was sold for $4.1 million in September 2021 ($1,336 psf). The previous owners had purchased the unit for $1.4 million ($456 psf) in August 2001, resulting in a profit of $2.7 million (193%) or an annualised gain of 5.5% over 20 years.

Resale prices at Mandarin Gardens have been stagnant since September 2023 when the average resale price of units at the condo surpassed $1,300 psf, according to EdgeProp Singapore’s analysis tools. Prices peaked at $1,316 psf in June 2024 before declining slightly to $1,310 psf as of Feb 25.

The unit sold on Feb 11 is one of only 18 four-bedroom units at Mandarin Gardens. The last four-bedroom unit sold at the condo was a 3,800 sq ft unit on the ninth floor, which was sold for $4.26 million ($1,122 psf) in June 2023.

Mandarin Gardens sits on a 1.07 million sq ft plot along Siglap Road in District 15. It has a 99-year leasehold tenure starting from 1982, with approximately 56 years remaining. The development features 1,006 residential units spread over 17 nine- to 23-storey blocks. The units are a mix of one- and two-bedroom apartments ranging from 732 sq ft to 1,001 sq ft, and three- and four-bedroom units between 1,528 sq ft and 3,800 sq ft. The project also includes 11 strata commercial units.

Meanwhile, the second most profitable resale transaction during the same period was recorded at Parvis, a freehold condo located in prime District 10 on Holland Hill. On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor was sold for $4.78 million ($2,115 psf).

The unit was last sold in December 2009 for $2.78 million ($1,230 psf) when it was purchased from the developer. This resulted in a profit of $2 million (71.9%) for the seller or an annualised gain of 3.6% over 15 years.

Parvis is a 12-storey development with 248 residential units (Photo: Samuel Isaac Chua / EdgeProp Singapore)

This makes the second-floor unit the third most profitable transaction at Parvis. The record is currently held by a 2,605 sq ft, four-bedroom unit which was sold for $5.4 million ($2,073 psf) in November 2022. The unit was purchased for $3.21 million ($1,230 psf) in December 2009, resulting in a profit of $2.19 million (68.2%) or an annualised gain of 4.1% over 13 years.

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have stricter ownership rules, condos can generally be purchased without many limitations. However, foreign buyers are still subject to the ABSD, which presently stands at 20% for their initial property acquisition. Despite these added expenses, the stability and potential for growth in the Singapore real estate market remain alluring to foreign investors. Considering the aforementioned aspects, it’s essential for foreign investors to be well-informed about the local property laws before investing in a Singapore condo.

The unit sold on Feb 10 is the second most profitable transaction at Parvis this year. The first was a 2,788 sq ft, four-bedroom unit on the 12th floor which was sold for $6.1 million ($2,188 psf) on Jan 6. The seller had bought the unit for $4.25 million ($1,524 psf) in 2011, making a profit of $1.85 million (43.5%) after 14 years. This deal is the fifth most profitable transaction at Parvis to date.

Parvis is a 12-storey development with 248 residential units. The apartments are a mix of two-bedroom units from 990 sq ft to 1,442 sq ft as well as three- and four-bedroom units from 1,701 sq ft to 2,605 sq ft. There are also penthouses with three or four bedrooms ranging from 2,293 sq ft to 3,229 sq ft.

Among the schools within 2km of Parvis are Henry Park Primary School along Holland Grove Road, Nanyang Primary School along Coronation Road, New Town Primary School along Tanglin Halt Road and Queenstown Primary School along Margaret Drive. The condo is also just a five-minute walk from Holland Village MRT Station on the Circle Line.

The most unprofitable transaction recorded during the period from Feb 7 to Feb 14 was the sale of a two-bedroom unit at the freehold Scotts Square. The 947 sq ft unit on the 28th floor was sold for $3.08 million ($3,252 psf) on Feb 13. It had previously been sold for about $3.83 million ($4,039 psf) in December 2007. This resulted in a loss of $745,880 (19.5%) for the seller, which translates to an annualised loss of 1.3% over 17 years.

Developed by Wharf Estates Singapore, Scotts Square is a mixed-use freehold development located along Scotts Road (Photo: Samuel Isaac Chua / EdgeProp Singapore)

According to EdgeProp’s analytical tools, Scotts Square has seen 69 unprofitable transactions since its launch in 2007. Of these, 18 (26%) have resulted in a seven-figure loss. The most unprofitable transaction resulted from the sale of a 1,249 sq ft, three-bedroom unit which sold for $3.65 million ($2,923 psf) in February 2017. The sellers had bought the unit at its launch in August 2007 for approximately $5.21 million ($4,171 psf), resulting in a loss of about $1.56 million (30%) over 10 years.

The average resale price at Scotts Square has been trending downwards since its launch in 2007. Based on a 12-month rolling average, prices peaked at $4,054 psf in July 2007 before reaching a low of $3,330 psf in August 2020. Last month, the average price of resale units at Scotts Square was $3,398 psf.

Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt. Completed in 2011, it comprises two luxury residential towers of 43 and 34 storeys, with a total of 338 apartments and a four-storey retail podium. The residential units are a mix of one- to three-bedroom units ranging from 603 sq ft to 1,249 sq ft. Amenities at the condo include concierge services, a gym, a lap pool, and a sky pool on the 35th floor.…

High demand for two-bedroom units at Hill House resulted in a new record psf-price during the period of Feb 7 to 16. The sale of a 452 sq ft, two-bedroom unit on the eighth floor fetched $3,398 psf, surpassing the previous peak set just a few days earlier.A highly sought-after 72-unit condo, Hill House offers one-, two-, and three-bedroom units, with sizes ranging from 431 sq ft to 753 sq ft. Since its launch in November 2022, 51.4% of the units have been sold at an average price of $3,152 psf. The latest transaction brings the total number of units sold this year to eight, with an average price of $3,190 psf. The most expensive unit sold so far this year was a 753 sq ft, three-bedroom apartment that went for $2.39 million on Jan 5. This boutique condo is strategically located within a five-minute walk of River Valley Primary School and lifestyle hub New Bahru.Located at the prime District 10 area, The Tresor came in second on the list of condos with new psf-price highs. A resale transaction of a 1,421 sq ft unit on the fifth floor recorded a new high of $2,625 psf when it sold for $3.73 million on Feb 10. This surpasses the previous peak of $2,501 psf set in March 2024. The 62-unit development offers two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is just a five-minute walk from Tan Kah Kee MRT Station and within walking distance of Coronation Shopping Plaza and Serene Centre.Finally, Jadescape rounded out the top three on the list of condos with new psf-price highs. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf at the 99-year leasehold development. This surpasses the previous record of $2,446 psf set in January. The development, which comprises 1,206 units, offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. It is located near Marymount MRT Station and enjoys one of the highest average transacted prices among condos in the area. No new psf-price lows were recorded during the period in review.

The desire for condominiums in Singapore has undergone a notable upsurge, primarily due to the scarcity of land available in the country. As Singapore has a small land area and a rapidly growing population, it faces the significant challenge of providing sufficient housing options for its citizens. As a result, the government has instituted strict regulations on land use, leading to fierce competition in the real estate market. This competition has caused property prices to steadily increase, making condos a highly sought-after investment opportunity. Due to the limited availability of land in Singapore, condos have emerged as the preferred option for potential capital appreciation, cementing their reputation as a wise investment choice for buyers. With the infinite Condo options available, it’s no surprise that the demand for these properties continues to rise in Singapore.…

When considering investing in condos in Singapore, it is crucial to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to control impulsive buying and maintain a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which requires foreign buyers and those purchasing multiple properties to pay higher taxes. Although these measures may affect the immediate profitability of condo investments, they also promote the long-term stability of the market, making it a more secure environment for investment. Moreover, with the availability of Singapore Projects, investors can have even more confidence in their condo investments.

Chiu Teng Group, a highly successful developer of quality commercial and industrial spaces in Singapore, is now launching its latest freehold development – CT Pemimpin. This new project is sure to delight property investors and business owners looking for a rare gem in the land-scarce city-state.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory building consisting of 56 strata-titled units and three canteen units. Floor heights range from 5.6m to 7.35m, with selected units featuring mezzanine floors on levels one and five.

The freehold status of CT Pemimpin makes it a standout amidst the current market, where most industrial developments are limited to 30 or 60-year leases. Additionally, commercial and industrial property buyers are exempt from the Additional Buyer’s Stamp Duty (ABSD) imposed by the government, making CT Pemimpin an attractive option for investors and eligible foreigners.

According to Kelvin Fong, Deputy CEO of PropNex Realty, “Being a freehold development in this centralised location, it will be good investment asset to both investors and end-users.”

The development also boasts a one-to-one carpark ratio, with 59 designated lots including two for electric vehicles, three for small lorries, two for the handicapped, and 34 for bicycles. CT Pemimpin is also equipped with two passenger lifts and a service lift, and each unit has its own private toilet for convenience.

Ken Low, Managing Partner of SRI, highlights the convenience of having a designated carpark lot for each unit, saying, “This will ensure seamless accessibility and time-saving for business owners. The partial ramp-up design also enhances accessibility for day-to-day operations, allowing for smoother loading and unloading of goods, and improving logistics efficiency.”

Strategically located in District 20, CT Pemimpin is surrounded by popular townships like Bishan, Upper Thomson, and Ang Mo Kio, offering a wealth of amenities. Its excellent accessibility and connectivity to all parts of Singapore make it a highly sought-after location. Three MRT lines serve the industrial estate, providing convenient commute options for workers.

Doris Ong, Deputy CEO of ERA, emphasizes the strategic value of owning a freehold property in Singapore’s central region, stating, “Positioned in one of the city’s most dynamic and prestigious locations, it offers an impressive corporate address, unmatched connectivity, and enduring potential for growth.”

Located just a five-minute walk from Marymount MRT station, CT Pemimpin is also accessible via Upper Thomson MRT station and Bishan MRT station. Drivers can easily access the industrial estate via major expressways like PIE and CTE. It is also just an eight-minute drive from Novena and 15 minutes from Orchard Road.

With the upcoming North-South Corridor expressway, which will include dedicated bus and cycling lanes, travelling time from the north into the city will be reduced when it is completed in phases from 2027.

CT Pemimpin’s prime location also provides easy access to popular shopping hubs such as Junction 8, Thomson Plaza, and Velocity@Novena Square, as well as reputable schools like Raffles Institution, Catholic High School, and Eunoia Junior College.

The building will feature green and sustainable features, including a shower room, bicycle racks, and storage lockers, as well as a sky garden with two rooftop pavilions for outdoor gatherings. Other planned sustainable features include rooftop solar panels and EV charging stations, as well as water-saving fittings, motion-sensor lighting, and double-glazed windows in selected units.

“With water-saving fittings, double glazed windows for certain units and many other green features for sustainability, CT Pemimpin aims to shape a greener and committed future,” says Mark Yip, CEO of Huttons Asia.

Chiu Teng Group, established in 1999, has a solid reputation for developing and building quality industrial and commercial properties in Singapore. Its portfolio includes well-received projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.

The preview for CT Pemimpin ends on March 5, 2025. For anyone interested in securing a rare freehold industrial space, call 8100 8017 or visit Chiu Teng Group to schedule a viewing.…

ERA’s upcoming auction on February 27 will feature a pair of adjacent retail units on the third floor of Sim Lim Square with a total guide price of $3.38 million. The two units, which are available for purchase together or separately, have a guide price of $2.08 million ($2,171 psf) for the larger unit and $1.28 million ($2,246 psf) for the smaller unit. This is the first time both units have been listed for auction by ERA.

According to Alison Lee, assistant vice president of auction and sales at ERA, the units are competitively priced and slightly below market average to attract a quick sale. Based on EdgeProp Singapore’s analytical tools, retail units at Sim Lim Square have transacted at an average price of $2,997 psf in the last 12 months. The most recent transaction was in December 2024, where a 592 sq ft ground floor unit was sold for $1.92 million ($3,241 psf).

In Singapore, investing in condos requires careful consideration of the government’s property cooling measures. Throughout the years, the Singaporean government has implemented different measures to prevent speculative buying and maintain a steady real estate market. This includes the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on buyers who are foreigners or purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they play a vital role in promoting a stable market in the long run, making it a secure investment environment. For more information on condo investments in Singapore, visit Siteismi.

Sim Lim Square has established itself as a popular tech hub, known for its wide variety of electronics, gadgets, and computer parts. It also houses other businesses such as eateries and traditional Chinese medicine shops. The two retail units for sale are currently tenanted and generate a monthly rental income of approximately $4.50 psf. Based on EdgeProp Singapore’s data, retail units at Sim Lim Square generate rental yields between $4.20 and $7.30 psf per month.

The owners of Sim Lim Square attempted to put the development up for collective sale in 2019 with a reserve price of $1.25 billion, but it did not find a buyer. A second attempt led by a collective sale committee formed in 2022 also did not materialize. Lee reveals that a new committee is being formed to explore the possibility of another collective sale attempt in the near future.

Built in 1987, Sim Lim Square is a strata-titled commercial development in District 7 with a land tenure of 99 years from 1983. The complex comprises 492 retail and office units spread across six floors and two basement levels. It is conveniently located near Rochor and Jalan Besar MRT Stations on the Downtown Line and the Bugis MRT Interchange, which connects the East-West and Downtown Lines.…

HAVE A QUESTION ON THE PROPERTY MARKET?Send in your burning questions toASKBuddy@edgeprop.sg and we’ll get industry experts to answer them.

Mr Chong, a retiree, supported all of his three sons when they were setting up their homes. His eldest son purchased a private condo while his two younger sons purchased executive condos (ECs). According to Mr Chong, it was a no-brainer for his sons to purchase an EC at a new launch. Even if they bought it shortly after the five-year Minimum Occupation Period (MOP), it was still a good entry price.

Mr Chong has experienced both scenarios as his second son purchased a three-bedroom unit at the 531-unit Hundred Palms Residences which was launched in July 2017. However, his son was unable to get a four-bedroom unit as they were sold out very quickly. The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day of the launch at an average price of $841 psf. The EC, located on Yio Chu Kang Road, was completed in 2019 and based on caveats for units sold in January and February 2025, the average price was $1,769 psf, a 110% price gain in eight years.

The most recent resale price of a 1,055 sq ft, three-bedroom unit at Hundred Palms was $1.95 million ($1,849 psf) in February, according to caveats. Mr Chong believes that his second son has seen his EC unit appreciate by about $1 million since he purchased it at launch. Such capital gains have motivated many to upgrade to private housing, notes Mr Chong.

Three years ago, when Mr Chong’s youngest son decided to set up his own home, Mr Chong sold his 1,260 sq ft, three-bedroom unit at The Interlace, which had been their family home for the past decade. In 2021, the Chongs bought a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands that was developed by a joint venture between Frasers Property and Lum Chang. The EC was launched in 2013 and completed in 2016.

ECs are only open to Singapore citizens or permanent residents (PRs) at launch and after the five-year MOP. Foreigners can only buy ECs in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP). The dual-key unit affords Mr Chong privacy, as he occupies the one-bedroom studio while his son and family occupy the three-bedroom apartment. As a dual-key unit, while the main entrance is shared, each apartment has its own separate entrance.

Even though they paid $1,000 psf for the unit in 2021 – which was considered high then – the resale prices at Twin Fountains are now even higher, according to Mr Chong. A caveat lodged in February showed that the latest transaction for a 1,206 sq ft, four-bedroom unit was $1.62 million ($1,344 psf). “Even if you miss the boat, like my youngest son, and we bought in at $1,000 psf, resale prices at Twin Fountains are now 30% higher,” adds Mr Chong.

Last October, City Developments launched the 348-unit private condo Norwood Grand at Champions Way, Woodlands. About 84% of the units were sold during its launch weekend at an average price of $2,067 psf, setting a new benchmark for Woodlands. Mr Chong points to the launch of Norwood Grand’s average selling price, which is 53.8% higher than the latest resale price at Twin Fountains. He believes that the announcement of revitalisation and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North, has revived interest in the northern region.

However, EC buyers are now required to shell out a larger cash outlay due to rising EC prices and caps on loan quantum, says Eugene Lim, key executive officer of ERA Singapore. For ECs, the monthly household income ceiling is $16,000. Buyers have to meet the Mortgage Servicing Ratio (30% cap) and the Total Debt Servicing Ratio (55% cap) if they take a loan.

Assuming a 30-year-old EC buyer with a household income of $16,000 and a maximum loan tenure of 30 years, the maximum loan amount the buyer can take on is around $1 million, estimates ERA’s Lim.

Despite the higher upfront costs, buyers are not deterred by the higher prices of ECs, says Lim. This is because there is still a 42% median price gap between similar-sized homes in the EC market compared to 99-year leasehold private condos in the Outside Central Region (OCR), he adds.

For instance, the median price of an EC unit sized at 900-1,000 sq ft is about $1.48 million, while that of a similar-sized unit in a private condo is about $2.1 million. As such, buyers, particularly HDB upgraders, still see value in ECs, Lim reasons.

In 2024, the average transaction price of new non-landed private condos in the suburbs or OCR crossed the $2,200 psf mark. Meanwhile, new ECs in 2024 were sold at a median price of $1,539 psf based on caveats lodged, says Ismail Gafoor, CEO of PropNex. That reflects a price gap of 44.2%. He expects the median price for new condos this year “to tip over $2,200 psf again”.

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When it comes to investing in condos in Singapore, there is another crucial factor to consider – the government’s property cooling measures. In an effort to maintain a stable real estate market and prevent speculative purchases, the Singaporean government has implemented various measures over the years. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign buyers and those purchasing multiple properties. While they may have an impact on the short-term profitability of condo investments, these measures also contribute to the long-term stability of the market, making it a secure environment for investing. As a result, Singapore Projects continue to be a desirable choice for investors.

OrangeTee Group’s chief researcher and strategist, Christine Sun, found that the median price gap between new ECs and new private condos in the OCR has narrowed in recent years. Based on URA Realis data, the gap narrowed from 49.4% in 2023 to 44.2% in 2024 and 43.6% in January 2025. Ms Sun attributes this to EC prices rising at a faster pace of 9.6% between 2023 and January 2025 compared to a 5.3% increase in non-landed home prices in the OCR over the same period.

According to ERA’s Lim, there is sustainable demand for ECs due to their affordability and lower price psf compared to 99-year leasehold private condos in the same area. Aside from the lower price relative to new private condos, EC buyers do not need to dispose of their existing home before making their purchase. HDB upgraders also do not incur additional buyers’ stamp duty (ABSD) when buying a new EC, Lim points out.

Moreover, EC buyers may opt for the Deferred Payment Scheme (DPS) at a slightly higher purchase price. Under the DPS, they only need to pay a deposit, with their loan deferred until after the completion of the EC. This way, buyers will not need to service two mortgages while waiting for the new home to be completed, says Lim. With no ABSD payable and the availability of the DPS, HDB owners find it easier to upgrade to a new EC.

He opines that although three new EC launches are expected this year, they are strategically spaced out across different locations — Tampines, Pasir Ris and Tengah — and will cater to the housing needs of Singaporeans across the island.…

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Purchasing a Singapore Condo requires careful consideration of its upkeep and management. Like any property, condos come with maintenance fees that cover the maintenance of shared spaces and facilities. Although this might add to the overall cost of ownership, it also ensures the maintenance and value of the property. Employing the expertise of a professional property management company can alleviate the responsibility of day-to-day management for investors, making it a less involved investment. It is essential to factor in these maintenance and management fees when creating a financial plan for owning a Singapore Condo.

Original article:Data from C9 Hotelworks, a hospitality consultancy based in Asia, has revealed that the market value of branded residential projects in Asia has reached a record high of US$26.6 billion ($35.5 billion). With over 68,000 luxurious units now available, this sector is certainly booming.Vietnam takes the lead in Asia with 17,680 branded residential units across 59 properties. The average price of a luxury unit in Vietnam is around US$350 psf. Thailand follows suit with 16,271 branded residential units across 65 properties. The majority of these units have a price tag of US$510 psf. In the Philippines, there are 13,276 units across 46 properties, with prices averaging around US$400 psf.AdvertisementHowever, it is Singapore that boasts the highest prices for branded residential properties in the region, with units going for US$2,140 psf. Japan is a close second, with an average price of US$1,935 psf.Read also: Gilded Age luxury living reimagined at The Towers of the Waldorf Astoria, New YorkAdvertisementBill Barnett, the managing director of C9 Hotelworks, notes that there are other emerging markets that have seen a significant increase in branded residential developments in recent years. South Korea, for instance, now has 3,026 units across 16 properties, while Malaysia has 6,014 units across 24 projects, making them two of the fastest-growing markets in the region.Infographic: C9 HotelworksIn the post-Covid-19 era, urban-locale branded residences account for 56% of the current supply in Asia, with luxury urban projects dominating the market in terms of value. For instance, urban branded residences in South Korea sell for an average of US$2,670 psf, which is more than half the price of resort projects in the country, which typically go for US$1,040 psf. In Thailand, urban branded residences have an average price tag of US$770 psf, compared to resort locations, which have an average price of US$430 psf.Acording to Barnett, Asia’s branded residential market consists of about 12,330 units across 80 developments that are affiliated with luxury hotel brands, making up 31% of the market supply. “This data shows that a reputable brand can help a property command a premium price of 30%-35% above the market rate in the country. It also allows developers to increase their market share in the country,” says Barnett.Moreover, the popularity of top hospitality brands and other luxury lifestyle brands has led to hotel groups and premium brands charging higher licensing fees. Barnett states that it is now common for luxury hotel and lifestyle brands to ask for a 6% to 10% cut in the sale of each branded residential unit.Last August, Thai developer Ananda Development and German luxury brand Porsche, through its lifestyle arm Porsche Design, unveiled The Porsche Design Tower Bangkok in Thonglor. The 22-unit tower, which is expected to be completed in 2028, is Asia’s first Porsche residential tower, following the success of Porsche Design Tower Miami a decade ago. The units, which include duplexes and quadplexes, are priced between US$15 million and US$40 million.From left: Saowarin Chanprakaisi, vice-president of business development, The Ascott; Teo Junrong, vice-president of business development, The Ascott; David Johnson, CEO of Delivering Asia; Gianfranco Bianchi, general manager, Asia Pacific at The One Atelier; Jason Thelen, senior director of sales and marketing at Sudara Residences; Ananth Ramchandran, head of advisory and strategic transactions, hotels and hospitality Asia, CBRE; Lee Nai Jia, head of real estate intelligence of digital and software solutions, PropertyGuru Group and Bill Barnett, managing director of C9 Hotelworks. (Picture: C9 Hotelworks)Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy specialising in branded residences for lifestyle brands, points out that in recent years, more luxury lifestyle brands have been exploring partnerships to license their branding into real estate developments across the Asia Pacific region.Read also: Investors step up demand for branded residences in Southeast AsiaAdvertisementOne Atelier has partnered with several high-profile brands to create branded residences, including the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey, and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.While hospitality-affiliated branded residences offer top-notch hospitality services, fashion or design-branded residences provide a rare opportunity to own a trophy home that reflects the luxury and sophistication of the brand. This is something that the market has clearly shown a demand for according to Bianchi.In addition, Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, states that property cooling measures in Singapore have led many high-net-worth individuals to consider investing in trophy assets in nearby regional markets. He adds, “We’ve experienced a significant reduction in discussions and inquiries from Singapore developers who are looking to explore high-end and ultra-luxury branded residential projects in Singapore. The government’s cooling measures have had a negative impact on foreign buyer demand.”888 Brickell is a branded residence in Miami that was designed by the fashion house Dolce & Gabbana.Mr Ramchandran also states that Singapore-based high-net-worth buyers are now increasingly interested in luxury-branded residences in popular destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and other emerging markets in Vietnam. This is due to the fact that these locations are just a two-hour flight away from Singapore. He states that the availability of direct flights between Singapore and these destinations make them a more attractive option for Singapore-based buyers, and flight carriers like SIA, Scoot, AirAsia and Jetstar operated approximately 150 flights per week between Singapore and Phuket last month.Read also: KSK Land launches second tower of KL luxury project 8 ConlayAdvertisementJason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, adds: “Singapore has quickly become our top regional market for buyers looking for second homes, making up over 45% of regional purchases.”Another key player in the hospitality sector, The Ascott, is also capitalising on the growth of the branded residential market in Asia, according to Saowarin Chanprakaisi, vice-president of business development at The Ascott. She states, “We believe that our brands, such as Ascott, The Crest Collection and Oakwood Premier, have a strong reputation in the market.” Ms Chanprakaisi adds that Ascott is looking to expand its market share in the region by partnering with developers who are interested in entering the branded residential market.…

UEM Sunrise and Singapore-listed GuocoLand have recently signed a Memorandum of Understanding (MOU) for the development of selected freehold land in Iskandar Puteri, Johor. This marks the first MOU signed between private companies from Malaysia and Singapore within the Johor-Singapore Special Economic Zone (JS-SEZ).

The signing of this MOU was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision for Iskandar Puteri. This area, which is part of Flagship Zone B within the JS-SEZ, specializes in various sectors including manufacturing, business services, education, health, and tourism.

The MOU covers UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. This collaboration aims to accelerate growth and enhance the attractiveness of Iskandar Puteri for investments. It will focus on improving connectivity, talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that will create jobs and fuel long-term growth in Johor.

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning Iskandar Puteri as a robust business and investment hub.

“The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy,” says Datuk Hisham Hamdan, chairman of UEM Sunrise, in a speech.

According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group brings along its experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that are looking to establish a presence in the JS-SEZ.

When it comes to investing in a condo, financing is a crucial factor to consider. Thankfully, Singapore has a variety of mortgage options available. However, it is crucial to have a good grasp on the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan a borrower can take based on their income and current debt commitments. To make well-informed decisions about financing, investors should be familiar with the TDSR and seek guidance from financial advisors or mortgage brokers. This will also help prevent them from over-leveraging. Additionally, checking out Singapore Projects can provide valuable insight for investors.

Together, the combined expertise of UEM Sunrise and GuocoLand will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

UEM Sunrise has played a key role in the urban development of Iskandar Puteri, with existing developments including residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. The group is also developing a 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to increase investments in the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

When it comes to investing in a Condo, there are many factors to consider beyond simply purchasing the property itself. It’s essential to also think about the maintenance and management of the real estate in question. One aspect of owning a Condo is the payment of maintenance fees, which cover the upkeep of shared spaces and amenities. While these fees may seem like an added expense, they are vital in preserving the value of the property. To make Condo ownership a more hands-off investment, property owners can seek the assistance of a reputable property management company to oversee the day-to-day management of their unit. This allows investors to ensure that their Condo remains in excellent condition and retains its value over time.

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently announced the signing of a memorandum of understanding (MOU) between the two private companies. This marks the first MOU signed between Malaysia and Singapore private companies for the Johor-Singapore Special Economic Zone (JS-SEZ), as stated in a press release on Feb 27.

Under the MOU, the two groups will work together to develop selected freehold land owned by UEM Sunrise in Iskandar Puteri, Johor. The aim is to accelerate growth within the JS-SEZ. The MOU signing was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a display of the developer’s vision for Iskandar Puteri.

Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors, including manufacturing, business services, education, health, and tourism. This makes it an attractive location for potential investments from overseas.

The MOU is expected to cover UEM Sunrise’s land in Gerband Nusajaya and Puteri Harbour, two key areas that have been carefully planned within Iskandar Puteri. Through this collaboration, the aim is to unlock the potential of Iskandar Puteri and make it even more attractive for investors. The focus will be on improving connectivity, developing talent, and creating a business-friendly environment that will bring sustainable economic benefits to Johor.

According to Hafizuddin Sulaiman, Chief Financial Officer of UEM Sunrise, this partnership goes beyond just development, as it aims to establish a thriving and future-ready economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem.

The sites chosen for development are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to spur long-term economic growth and position Iskandar Puteri as a robust business and investment hub.

In a speech, Datuk Hisham Hamdan, Chairman of UEM Sunrise, stated that the development of JS-SEZ, as well as the strategic partnerships, is part of a larger vision to establish Johor as a dynamic and forward-thinking economy.

Cheng Hsing Yao, CEO of GuocoLand, adds that the Singapore-listed property group will bring their experience in real estate development and asset management to the table. They also have a deep understanding of the needs of companies from Singapore, Malaysia, and China looking to establish a presence in the JS-SEZ. By combining their collective expertise, the two groups aim to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

UEM Sunrise has already played a significant role in the urban development of Iskandar Puteri. The developer has previously worked on residential townships such as the Aspira series and Senadi Hill. They have also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth of Iskandar Puteri is expected to be further propelled by incentives and support schemes introduced by the governments of Malaysia and Singapore. These measures aim to attract investments for the JS-SEZ and include special tax rates, stamp duty exemptions, and capital allowances. With this collaboration, UEM Sunrise and GuocoLand are poised to drive growth and create a vibrant and prosperous business hub in Iskandar Puteri.…

Frasers Property’s high-specification logistics facility in UK achieves practical completion for the 57,903 sq ft warehouse

Frasers Property joins hands with Chinese real estate groups to acquire Shanghai residential site

There has been a recent partnership between Frasers Property and two prominent Chinese real estate groups. Together, they have successfully acquired a residential site located in Songjiang District, Shanghai, China. According to a tender from the Shanghai Municipal Bureau of Planning and Natural Resources, the joint venture (JV) partners were able to secure the site for RMB815.2 million ($151.9 million). Xiamen ITG Real Estate Group, a subsidiary of ITG Holding Group, which is a state-owned enterprise under the Xiamen Municipal Government, and Shanghai-listed Gemdale Corporation, are the other JV partners.

A press release on Feb 26 revealed that the JV partners plan to develop the site into a mix of 189 low-rise apartments, townhouses, and duplex units. The total gross floor area of the project will be 334,714 sq ft. Moreover, the development will feature design for flood mitigation, ultra-low energy building designs, and energy-saving door and window systems. Other features include reduced thermal bridging and solar photovoltaics.

The project is expected to attract upgraders and first-time homebuyers in Fangsong Community, Songjiang District, located in Shanghai. The prime residential neighbourhood is also near two existing projects, Club Tree and Palace of Yunjian, that were developed through joint ventures involving Frasers Property and Gemdale Corporation.

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Purchasing a condominium presents the advantage of utilizing its value to leverage future investments. A popular approach among investors is to utilize their condos as collateral, obtaining additional funding for fresh investments and ultimately expanding their real estate portfolio. However, it is essential to have a well-thought-out financial plan and carefully analyze the effects of market volatility. It may also be beneficial to keep a close watch on new condo launches, as they can provide further options for investment in the dynamic real estate market. Don’t miss out on potential opportunities for investment by keeping an eye on new condo launches.

Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, states that “This joint venture not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community.”

The company has been actively involved in various property developments in Asia and is constantly looking for opportunities to expand its portfolio. With this new partnership, Frasers Property hopes to continue delivering high-quality residential developments to meet the growing demand in the Chinese market.…

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Investing in a Condo in Singapore requires careful consideration, especially when it comes to obtaining financing. Thankfully, multiple mortgage options are available, but it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This system sets a limit on how much a borrower can loan based on their income and existing debt obligations. Therefore, it is crucial to familiarize oneself with TDSR and seek guidance from financial experts or mortgage brokers to make well-informed decisions when purchasing a Condo in Singapore. This not only prevents potential overexposure to debt but also allows prospective buyers interested in owning a Condo in Singapore to make wise choices.

CDL’s Chair Halts “Serious Lapses” in Corporate Governance

City Developments (CDL)’s Executive Chairperson, Kwek Leng Beng, has announced that the “serious lapses” in corporate governance at the company have been stopped. According to a second statement released by Kwek, two new directors who were “irregularly and hastily appointed” on Feb 7, have agreed not to exercise any powers as directors until further notice from the court. These new directors are Jennifer Duong Young and Wong Su Yen, who were both appointed as independent non-executive directors through directors’ written resolutions. Kwek Leng Beng also mentioned that his son, Sherman Kwek, Philip Lee, Wong Ai Ai and the remaining directors who are acting in concert with them, have also promised not to take any further actions related to their attempted changes to the board committees and management of certain CDL subsidiaries, until further notice from the court. The “irregularly constituted” nominating and remuneration committee has also been stopped from taking any further action. As a result, CDL’s board committees and the management of relevant subsidiaries are now safe from any further attempts to destabilise, dismantle and reconstitute them, according to Kwek Sr.

He also stressed the importance of having strong corporate governance in place, stating that it is the foundation of a well-functioning and sustainable business. It ensures transparency, accountability, and responsible decision-making, which are vital in maintaining investor confidence and safeguarding the long-term interests of shareholders.

On the morning of Feb 26, CDL made an unexpected announcement to halt trading in its shares and cancel its FY2024 results briefing. In a media statement released at 1.51pm, CDL explained that the trading suspension was due to a disagreement within the board regarding the composition and constitution of the board and the board committees.

However, despite the trading halt, CDL’s business operations remain unaffected. Sherman Kwek remains the group CEO until there is a board resolution to change company leadership.

In his first press statement, Kwek Sr. accused his son, Lee, Wong, and a group of directors acting with them of trying to “consolidate control of the board and the group”. He also mentioned that he had filed court papers on Feb 25 to address this issue, which he believes is necessary to deal with the “attempted coup”.

“We intend to change the CEO at the appropriate time. We will continue to explore all legal options available to us to vigorously defend and protect the interests of CDL and its shareholders,” said Kwek Sr. He also added that if Sherman is removed as CEO, the current Chief Operating Officer, Kwek EIk Sheng, will serve as the interim CEO.

Shares in CDL last traded at $5.12 before the trading halt on the morning of Feb 26.…