In second-time balloting, 88% of Altura executive condos were sold

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Portfolio of 20 strata commercial units for sale at New World Centre for $55 million

Qingjian Realty and Santarli Realty started voting to second time HDB buyers in the Altura executive condominium (EC) on the 16th of September which resulted in 95 sales. The take-up rate was raised up to 87.5%, and the average selling price was $1,470 per square foot. There are only 45 units left of the 360-unit EC located at Bukit Batok West Avenue. The units are predominantly four- and five-bedrooms plus flexible configurations.

“The high demand for Altura among second-time buyers is not unusual, considering executive condos are a viable alternative for HDB upgraders because of their affordable prices and the potential for good growth in capital value over the coming years,” says Ismail Gafoor, PropNex CEO. “With EC land rate hitting the record during a recently held land auction some buyers may wish to make their move sooner instead of later, due to fears that prices might go upwards.”

Altura will be the first EC that was launched at Bukit Batok in the year 2001. It was a hit with first-time buyers, according to Marcus Chu, CEO of ERA Singapore. Altura is located near the upcoming Tengah Integrated Transport Hub and Anglo-Chinese Primary School.

ECs are experiencing a strong demand from buyers since they get a free exemption from additional buyer’s stamp duty (ABSD) According to Mark Yip, CEO of Huttons Asia.

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August new private home sales fell 72% year on year to 394 units

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Changi City Point is sold for $338 million by Frasers Centrepoint Trust

According to figures published by URA on the 15th of September, developers sold 394 new homes, excluding executive condominiums (ECs) for August. This is an 72.1% m-o-m plunge from the 1,412 units sold in July which represented a twenty-month record. In a y-o-y perspective sales decreased by 10% when compared to the 438 new homes that were sold on August 20, 2022.

The drop in sales for the month of October is due to fewer launches. “The phenomenal sales that were reported in July would always be difficult to be able to follow in August, as it coincided with the beginning of Hungry Ghost month, an epoch when the market activity slows because of the lack of new launches,” says Wong Siew Ying, head of content and research for PropNex Realty.

Excluding ECs Four new projects were unveiled in August. These include the 78-unit Orchard Sophia in the Core Central Region (CCR) The 324-unit TMW Maxwell located in the Rest of Central Region (RCR) as well as thirty-six units of Lakegarden Residences Lakegarden Residences and the 100-unit the Arden located in The Arden in the Outside Central Region (OCR).

The new developments were all launched during the first half of August, just prior to the beginning of the seventh lunar month on August 16. Five90 new homes were built which is 73% lower than the 2,156 homes launched earlier in the month% less than the 2,156 homes launched in the month prior.

The results of the latest private launches was less than in comparison the month of July. none project having a take-up rate higher than 30% of the units sold in Orchard Sophia with a median price of $2,808 per sq ft as noted by Tricia Song. She is CBRE director of research in Singapore as well as Southeast Asia. Comparatively, the private launches that were launched in July saw taking rates of between the 29% up to%.

Leonard Tay, head of research at Knight Frank Singapore, attributes the drop in sales to a softer buyer resentment. “Homebuyers are becoming more cautious and taking time to review the list of developments that have been released in recent months, and also coming releases,” he says.

Tay states that, with the increase in rates of interest in the last year and the economic uncertainty affordability has been a major issue for homebuyers. This means that it has fueled a steady interest in EC projects. 360 units of Altura EC located in Bukit Batok that was launched on August 1, was by far the most successful project in the month of August, with 215 units (63%) sold at an average price of $1,480 per sq. ft.

Excluding ECs and ECs, the OCR recorded the highest amount of sales for new homes at 192 units, or 49% of all developer sales. OCR sales were helped by new launches and The Lakegarden Residences clocking in as the second highest-performing home in August after securing the 73 units with the median price of $2,101 per square foot. However, OCR sales in August were 61% lower than the m-o -m.

For the RCR, developers sold 106 new homes (27% of total sales) in the RCR, which was which is down to 87% in a month. However home sales within the CCR were up 9% on a m-o – basis up to 96 homes, aided by the introduction the new Orchard Sophia. Orchard Sophia.

In terms of buyer profiles According to PropNex’s Wong says that home purchases from foreign buyers were relatively modest in August with caveats that show just 12 private houses purchased by the group, or 3% of the total monthly sales. On the other hand, 17% of private home sales that were not landed were made by Singapore PRs, and around the same amount of% of them were Singaporean buyers.

The sales will remain muted through September
Based on the data from August, the cumulative number of new home sales for 2023 at 5,189 homes. This is 5.6% lower than the 5,496 units sold during the same timeframe in 2022. “We believe that the deteriorating macro environment as well as the increased rate of interest rises, as well as cooling policies have slowing sales, although this is evident due to the numerous new launches that came in the months of the last two months,” notes CBRE’s Song.

The year 2022 saw developers have launched fifteen new private residential projects that comprised 428 units available to be sold. Comparatively, CBRE estimates that developers have launched 17 new projects worth 6,773 homes in the first quarter of this year. Song believes that the demand from home buyers has been “mostly abated” and the cost of homes has risen significantly which has left investors with little options for growth.

This means that property buyers should spend more time to look around and consider their options prior to entering into an agreement to purchase. With this in mind, home sales this month may be sluggish, supported by the seventh lunar month, which spans both the months of August and September according to PropNex’s Wong.

But, sales should be booming in the months of October and November, with new developments likely to hit the market, such as Hillock Green in Lentor Central and J’Den which is a renovation from the old JCube situated in Jurong East, she adds.

Knight Frank’s Tay estimates that new home sales are in the process of reaching between 7,000 and 8,800 units, which is consistent with the projections of Hutton Asia. “With the possibility of ten new launches planned beginning in October 2023 developer sales could close the year with 7,000 to 8000 units, which is still more than 2022’s 7,099 units, despite the uncertainties in the economy,” says Lee Sze Teck, Huttons’ senior director of data analytics.

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Meet Japanese developers and real estate specialists on September 24 at FMI’s Japan Expo

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For more than a decade, FM Investment (FMI) has been a leader in the provision of complete end-to-end real property management and investment client services.

With years of experience with and around the Japanese property industry, FMI is hosting a Japan Expo at Shangri-la Singapore on September 24, Sunday. This is the only chance for Singaporean investors to meet with top Japanese developers and discover more about their plans and their specialties. Participants will also have an opportunity to hear from subject experts on a wide range of subjects, including investment and consumer guidance in Singapore to finance and local regulation concerns.

To Amous Lee, the CEO and co-founder of FMI the event, which lasts for one day showcases the company’s close connections with key players in Japan as well as the company’s goal to educate Singaporean investors on the untapped potential in the Japanese real property market. FMI’s COO, as well as partner Nicky So, will also be in attendance.

“Since we founded FMI back in the year 2014, the company has grown from strength increase its effectiveness, with a particular focus on its work in the Japanese real estate sector where we’ve assisted in connecting up-and-coming local developers to a wide range of investors from around the world,” says Lee. “This Japan Expo will be an opportunity to showcase the new and current clients of FMI which will highlight our strength and vast knowledge of Japan.” Japanese property industry.”

Focus is on building relationships

The Japanese real property market has been a draw for institutions, investment firms as well as smart retail investors, as it is characterized by top-quality properties in major cities like Tokyo, Osaka, Nagoya, Kyoto, and Yokohama.

Making investments in Japan requires an knowledge of the geographic, economic as well as cultural issues that shape the country’s property segments. This could be a source of anxiety for all types of investors from abroad.

This is where FMI’s complete range of consulting services comes into. With teams operating in Japan and personnel who are front-facing from Singapore, FMI specialises in aiding investors, people, developers, and fund managers looking to increase the portfolio they have of Japanese properties.

“Together with our affiliate, FMI Japan, we can provide the most current information regarding developments in the market and investment developments that impact all areas that comprise the Japanese real property marketplace,” Lee says. Lee.

Over the decades, FMI has accumulated dozens of successful stories that have helped clients choose the right assets that fit their risk tolerance, directing their portfolios to earn high returns, and providing advice on strategies to recycle capital.

Mark Phooi, who invested in an in-block property with FMI Japan, says: “The FMI team was able to assess my needs for investment and aid me in finding the most suitable property to purchase. This has streamlined my decision-making process.”

FMI stands out due to its complete suite of end-to -end customer services, and a strong focus on managing relationships that includes asset acquisition to financial advice, portfolio management and disposals of assets.

“The FMI team were responsive to all my questions and gave me all the information about investments I needed. The most important aspect for me is that FMI is among the few firms I know that offers a full-service investment solution, including an exit plan” Phooi says.

He also explains that the level of customer support was a huge help in reducing the frequent issues with foreign property investment. “I have set aside a larger budget to purchase future properties in order to increase my Japanese real property collection,” He explains.

Paul Dunn, a Hong Kong-based investor, was awed by the breadth of knowledge in the industry that was displayed through members of the FMI team. “Beyond buying an investment property the FMI team helped me understand the potential of the investment and market which are crucial factors to consider when investing,” he says. He also adds that site trips to Osaka along alongside Amous along with his crew, significantly contributed to his knowledge of the area.

Dunn purchased a property at the Peak ChiyozakiOsaka Dome in Osaka with the help of FMI. Dunn is also planning to purchase two additional Japanese properties with FMI Japan in the coming months.

Japanese developer meet-and-greet

For the upcoming Japan Expo, attendees will be able to meet with a range of Japanese developers. Based on FMI’s close connections with top Japanese companies in development, FMI is bringing them to Singapore to discuss their plans.

“A objective for FMI was always to partner with experienced yet relatively unnoticed Japanese developers. While we keep a keen watch on the Japanese market for residential homes and the Japanese market, our teams frequently detect promising local development firms which are on a rapid development path,” says Lee.

The companies that develop in Japan Expo Japan Expo are listed and top companies that have an established track record as well as projects with a significant capital value.

The FMI’s Japanese partners is Takara Leben, a Tokyo-based real estate development business founded in 1989. It specializes in construction, planning, and sale of newly constructed condominiums in Japan and other companies in real estate leasing. Takara Leben has a capitalisation of JPY400 million ($3.8 million).

Another highly experienced Japanese developer that was brought in from FMI includes Nissei Advance Group. Established in 2001, the developer is located at Osaka as well as its commercial arm include distribution and condominium development as well as land-use businesses as well as financial and insurance planning.

“We are thrilled to offer the opportunity for Singapore investors to acquainted with these companies during the Japan Expo. The companies we have as Japanese partner companies are eager to connect with investors from Singapore. A number of them will announce their ventures for the very first time before an international audience of investors,” says Lee.

In addition, many Japanese projects will also be on display. They include three Osaka-based development that are located in Osaka – The Peak Namba Minami located situated in Naniwa Ward; The Peak Shinsaibashi Elite located within Chuo Ward; and The Marq located situated in Tennoji Ward. The project located in Kobe known as Advance Kobe Reysole, in Hyogo Ward, will also be displayed.

The attendees of the Expo will be able to get an exclusive look at a variety of off-market Japanese En bloc properties which are being listed with FMI Japan, and the possibility for investors to take part in the development and the possibility of future units.

Talks with the consumer

Attendees can ask questions of experts on the subject that FMI will fly in to for the event. They include Japanese-based bankers, solicitors from FMI’s Japanese-based department of buyers.

The most well-known guest speakers include Nobuhiko Inuzuka, a immigration lawyer who is an Administrative and Regulatory Solicitor and Koyo Shokuhin, the CEO of the Japanese construction firm Koueigen Co.

Lee adds: “We hope to drum consumers’ awareness of how to navigate the Japan property market by organising the various consumer seminars we’re hosting during the day. We have always had a goal to share our expertise and assist investors in educating themselves.”

These topics cover mortgages in Japan loans, loan qualification and documentation required and forecasts for the current interest rate climate in Japan and worries about the way that investing in Japan could affect existing properties that are located in Singapore.

The discussion will discuss how you can make the most of Osaka’s first integrated resort with a casino in Osaka and in-block properties in Japan and maximising the rental potential to earn passive income.

Lee will also impart his knowledge and experience from the inside. Lee and his co-worker So are experts in the field with an over 30 years working in international real market.

“Some of the most frequently asked questions I receive are most common mistakes that investors who want to invest in Japan must keep in mind. It could be anything from the kind of investment and what age the property they’re considering. Japan has a variety of rental laws that could make it difficult for first-time or experienced investors.” Lee says. Lee.

The FMI’s Japan Expo provides a unique opportunity for investors who are new to the market to get acquainted with the opportunities for investment that are available to investors in Japan. Investors who are experienced can also look for opportunities to expand their portfolios while networking with Japanese developers and experts and property purchasing agents.

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One Draycott by SDB provides deferred payment programs with longer completion and option exercise periods

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Hillock Green enbloc

Property developers with projects completed are becoming more innovative in their deferred payments schemes (DPS). The latest company to introduce the DPS has been SDB Asia, the property development part of Malaysia’s Selangor Dredging, for its project called One Draycott.

Hillock Green enbloc site is part of the new Lentor Hills Estate, is nestled in Ang Mo Kio Planning Area.

The 64-unit freehold boutique condo located at 1 Draycott Park obtained its temporary occupation permit in April, and a certificate of statutory complete (CSC) at the end of July. It is located in some of the Singapore’s sought-after districts 10 residential enclaves: Draycott, Claymore and Ardmore Park, just away from Orchard Road.

“DPS will only begin to kick in once a project is in compliance with its CSC,” says Eugene Lim who is the chief executive officer of ERA Realty Network. “Such plans provide buyers with more flexible payment options, that appeal to a greater market of potential buyers.”

The most common payment method for a finished project is in the following manner An option fee of one% on the price of the unit’s purchase followed by another 4% in a fortnight after an option has been exercised. Additional buyer’s stamp duty (ABSD) will be paid after the option is exercised.

The next 30-% down payment is due between 8 and 12 weeks after. The down payment could be made up of money as well as Central Provident Fund Ordinary Account savings. If a loan is taken, the remaining 65% will be repaid through mortgage payments.

Two alternative schemes
Apart from the usual payment scheme, SDB Asia offers home buyers two options under its DPS: an extension of the time to complete the sale or a longer exercise time.

If the DPS that has an extended period of sale completion buyers will be required to pay a one% option fee, followed by a 9.9% down payment when the option gets exercised two weeks after. Any ABSD due will be paid at that time. However the buyer will have to pay the following 25% down payment 6 months (24 weeks) in advance instead of the typical eight to 12 weeks.

“This longer time frame for sale completion is beneficial for those who require more time to make the cash needed to pay or get loans,” says an SDB Asia spokesperson.

The second DPS gives the purchaser an extension of the period of exercise and also an ABSD payment. The upfront option cost is more expensive five% for those seeking an extension of eight weeks on the exercise period of option and 10% up front for those wanting an extension of 16 weeks on the exercise period of option. The twenty% down payment is due between 8 and 12 weeks after.

These DPS are popular with buyers who want flexibility in their payments, according to Mark Yip, CEO of Huttons Asia. “Buyers will be pleased with the longer sale duration and extension of the period for exercise of options in the event that they’re waiting for the money from investments have been sold,” he observes.

Catering to those with ABSD or citizenship in limbo
“An extension of the period of exercise is also a great option for buyers of homes who require longer space to market their current property,” says the SDB Asia spokesperson. “The buyer can also save money by not paying the more expensive ABSD for the third or subsequent property.”

Since the 27th of April’s property chilling measures of April 27, ABSD to Singaporeans who purchase their second property has been increased to 20% as well as 30% for the third and following property.

Permanent resident (PRs) are required to pay 30% ABSD for their second home property located in Singapore as well as 35% on their third. In addition, foreigners have to be required to pay 60% ABSD when they make a residential property purchase.

“Some buyers may wait for Singapore PR or citizenship application to be accepted or selling their existing property as well as other investment properties” says Huttons Yip. “These buyers might choose to take advantage of a the option to exercise their options for a longer time.”

The SDB spokesperson claims it’s beneficial parents looking to purchase a unit from One Draycott to their kids who will be turning 21 within a couple of months.

“No price variation”
Alongside the increased ABSD and homebuyers are facing greater interest rates when taking mortgages. Limits on borrowing have also been restricted in the September 2022 property cooling measures. These include the ratio of loan to value cut from 75 to% for first-time home buyers, and 45% for those who are second-time buyers as well as 35% for buyers who are purchasing the third time a residential property.

The DPS provided by SDB was announced on August 1st. Since then only the scheme has been embraced by one Singaporean buyer has opted to take advantage of the program. He chose to extend the option exercise period while purchasing the 797 sq ft two-bedder located on the 16th level in Singapore for $2.86 million ($2,591 per square foot) as per the caveat filed on August 4.

In general, developers charge a higher price for those who choose the DPS as opposed to buyers who buy under the standard payment scheme. However In the case of the One Draycott, “there is no price difference” as stated by SDB spokesperson. SDB spokesperson.

Price cuts up to $150,000
As of now thirty units at One Draycott remain being offered for sale. The units are comprised of two-bedroom apartments with sizes of 732 and 797 sq feet in addition to a penthouse with two bedrooms that measures 1,346 sq ft, with the ceiling being double-volume.

SDB offers discounts of $150,000 for 732 sq ft two-bedders priced at $2.48 million ($3,388 per square foot) prior to the discount. The two-bedders of 797 sq ft are priced at $2.62 million ($3,287 per square foot) with a discount of $25,000.

Buyers who choose to purchase the DPS can also avail discounts on the price, according to an SDB spokesperson.

“The DPS, therefore, allows buyers to choose the best incentive to purchase an asset in the prestigious One Draycott, take advantage of the discount of $150,000, which is a challenge to find in such a desirable location and simultaneously have plenty of space to dispose of their existing property,” says Ken Low who is the director of SRI.

Low also saw an increase in the number of visitors and enquiries to One Draycott since the schemes were announced in August.

One Draycott includes 60 two-bedroom units measuring 732 to 797 square. ft. and four penthouses located on the highest level of the 18-story tower. Penthouses also have two bedroom units, with the same design to the other two-bedroom units. They differ in they are able to enjoy a double volume ceiling, which increases the size of their rooms to 1,238 sq ft and 1,346 sq feet.

Since the project’s launch in June of 2018 The project has seen 34 units sold and three penthouses have been sold. The buyers are mainly Singaporeans as well as PRs as per SDB. The highest psf value reached at One Draycott until now is $3,689 for a 732 square feet two-bedroom apartment on the ninth floor, which brought $2.7 million on July.

Investors, rental rates
“DPS buyers are also able to choose to either move into or rent out the unit, and begin making passive income from the rental when they exercise the option,” adds SRI’s Low. “This gives a huge amount of opportunities for buyers who purchase One Draycott.”

The extended time for completion or exercise of options of One Draycott will appeal to investors who want to profit from the growing rental market According to the ERA’s Lim. “The DPS will not affect their cash flow during the first period.”

For rental rates, two similar properties can be found at eight Hullet, a 44-unit freehold boutique condominium with two- and one-bedroom units ranging from 538 to 797 sq feet as well as 3. Cuscaden, which is a freehold, 96-unit condo situated on Cuscaden Walk, just off Orchard Boulevard. Both projects were completed by 2022.

The most recent rental transaction for two beds of 700-800 sq ft at 8 Hullet was the rental of $6,750 or $9 per month from May 2023. In July, a second two-bedder of 700-800 sq ft in 3 Cuscaden was leased for an annual rental of $7300 or $9.73 per sq ft. Both of these are based on URA rental figures as of the close of August.

Are there plans to have more developers of high-end condominiums that are completed that have inventory not sold provide DPS to buyers of homes? “Such programs can be seen as indirect financing to buyers, and they are expensive for developers,” says Huttons Yip. “Not many developers would offer these.”

Certain developers offer such schemes in limited quantities, says SRI’s Low. Some examples include Lumos located at Leonie Hill, The Oliv@Balmoral and Seascape along with Cape Royale “on an individual basis”, he says.

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Commercial asset owners must prioritize dealing with technology obsolescence

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Hillock Green floor plan pdf

One of the major concerns for the majority of commercial real estate asset management companies, developers and landlords is the chance they run that properties they manage are no longer relevant for tenants and investors in five or 10 years’ time in the future, according to Thomasin Crowley, global director of Asia Pacific at WiredScore.

Hillock Green floor plan pdf covering an impressive site area of 13,444.3 square meters, this non-landed residential property promises comfort

“A increasing number of stakeholders within the real estate business have concerns about providing a superior experience to their tenants, and achieving sustainable goals, managing their properties more efficiently, and demonstrating their future readiness,” Crowley says. She also says that market expectations over the last couple of years are changing to the point that each building must show its capabilities in order to remain relevant.

In the past year, WiredScore has established itself as a real estate certification company within New York and London, along with other important North American and European cities. The WiredScore name is an international digital connectivity rating scheme, and its SmartScore certification aids developers and asset owners identify the smart building, and encourages the best practices in developing them.

“Our goal is to make the buildings of the world more efficient, and we cannot do that without having an extensive footprint within the Asia Pacific (Apac) region that will be the largest region to grow commercial real estate moving forward,” says Crowley.

Building momentum, extending education

The year 2022 was the month that WiredScore opened its very first regional headquarters within Asia Pacific. The company selected Singapore as its home base for operations in the APAC region. “Our goal for the first few years was to increase recognition and presence in important international hubs within Apac that’s why we opened our first office in Singapore and then followed up with an additional office located situated in Hong Kong,” says Crowley.

WiredScore was already able to establish a presence on the Australian market and had a lengthy history of in working closely with Australian partners like Lendlease, CorVal Partners, Credit Suisse, LaSalle Investment Management and Frasers Property Australia.

“Our inaugural year Singapore in Singapore and Hong Kong was all about making education accessible to the market for digital connectivity, gaining momentum with developers and landlords. We followed that by the extension of the education to tenants,” Crowley says. Crowley.

After two years of working on at the ground in regions, WiredScore is registering 143 structures as part of its certification scheme, mostly in Australia, Singapore, Hong Kong and Thailand. Some buildings have also received two certifications — WiredScore in addition to SmartScore -increasing the number of certifications in the region to the number of 167.

“We’ve at present 66.8 million square feet of real estate for commercial use that is registered across four important Asia Pacific markets. In Singapore there are 13 certifications over 11 buildings,” Crowley says. Crowley. She believes that by the end of the year, another four commercial structures within Singapore will be certified with the WiredScore certification, and eight additional certifications will be given.

The rate of take-up for WiredScore’s certification schemes for Singapore exceeded the initial expectations, according to Crowley. “We started with the idea that Singapore would be a SmartScore oriented market, which is why we have our smart building certification and we’ve seen tremendous growth with the WiredScore certificate.”

She also says it’s evident that the dynamics of the marketplace for commercial services in Singapore is unique in comparison to other markets in the region. “This is boiled down to four drivers of growth in the city-state]: branding and leasing, technical value as well as construction for the future, and an increasing demand for intelligent buildings.”

Singapore is also a place that has benefited from an especially strong belief in investor reporting, as and a strong concentration on the environment, social as well as corporate accountability (ESG) that is deeply rooted in the country, she adds. “These are crucial contributors because the majority of corporate tenants as well as landlords are required to disclose their sustainability initiatives and the majority of the market realizes they are not able to meet their ESG targets without this technological element.”

Negative obsolescence

The task of certifying buildings differs from project to project, and is often done at different phases of development for new projects or completed structures, according to Crowley. For instance, an upcoming project that the team is a part in is the renovation of the Singtel Comcentre located at 31 Exeter Road.

The company that operates the telecoms has announced an agreement with Lendlease to transform Comcentre which was built in 1981 as the company’s base, and transform it into a 3 billion investment that incorporates the most recent digital and smart technology. The development will include two 20-storey Grade A office towers as well as 32,280 sq feet of ground floor F&B as well as retail space. Singtel as well as Lendlease have revealed that they will be aiming for various health, technology and sustainability ratings. These include BCA Green Mark Platinum (Zero Energy), Well Platinum and WiredScore along with SmartScore ratings.

“As the team of developers sign off on the concept design and the different space allocations this is the moment for us to jump into the process. We will leverage our partnership model that lets us collaborate alongside local specialists who are familiar with our requirements,” says Crowley.

The most significant challenge that a landlord or developer confronts nowadays is the growing possibility of the demise of assets as well as upcoming developments. “If you are me, the main thing that the entire market is worried about right now is the possibility of obsolescence” Crowley says. Crowley.

She also says that asset managers are extremely concerned about the fact that it’s going to become more difficult for older real estate properties in their portfolios to be able to attain the standards for benchmark accreditations, such as Green Mark Platinum, and this is a big worry for investors as well she states.

“When you’re thinking about upgrade of the smart system it’s all about the current state of your system to create a baselinethat’s the reason our SmartScore certifications will assist the owners of assets to begin the process,” she says.

Crowley states that many older commercial structures in Singapore must establish this foundation in order for owners to comprehend their requirements and their limitations. “You’re likely to be struggling for a while if you’ve not put the foundation infrastructure put in place but there’s plenty you can do with regards to upgrading,” she says.

A fantastic retrofitting example located in Singapore can be seen in Keppel Bay Tower which was awarded SmartScore Gold and a WiredScore Platinum in June of last year. “These are amazing results for an asset that is already in use and retrofit technology,” says Crowley.

Local experts working with you

Analyzing the company’s performance Singapore and the progress the company has achieved in Hong Kong, Thailand and Australia, Crowley says that the enthusiasm of the owners of assets as well as developers is very positive. With an extensive list of commercial projects that are coming up in Thailand and Thailand, a lot of developers are eager to showcase their work in the international market, she adds.

The most notable new development to obtain WiredScore along with SmartScore certificates can be found at One Bangkok from Frasers Property. Five of the Grade-A office towers were among the first in the nation to be awarded WiredScore Platinum.

“Looking to the future, we’ll be using the foundations we’ve established within Singapore, Hong Kong and Thailand to look at ways to expand our reach into Asia’s Southeast Asian market,” Crowley says. Crowley. “A crucial element to sustaining growth is working closely recognized partners across the globe and collaborating by working with experts in the local market.”

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Lucky Plaza has a freehold strata store unit for sale at $16,100 psf

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Hillock Green price

A shop on the first floor Lucky Plaza will be auctioned off at the auction of Knight Frank on September 19. A seller’s sale and the freehold property situated on Orchard Road has a guide price of $7.1 million. This is roughly $16,100 per square foot based on its size of floor space of 441 square feet.

Hillock Green price bid totalled to $481,028,300.

The shop has an attractive frontage that is just in front of the pedestrian walkway. its elevated position above street level offers excellent visibility for both vehicles and pedestrians that travel along Orchard Road. It is also located near the main entrance to the mall, and also the taxi stop and drop-off point that serves the building.

Karen Ker, assistant manager of sales and auctions for marketing agency Knight Frank, says the unit will be sold with a an end-of-tenancy date of Nov. 30. Additionally, GST is not payable during the transaction and the sale won’t be subject to buyer’s stamp duty and seller’s tax.

In 1981, the project was completed by the Far East Organization, Lucky Plaza is a mixed-use freehold development with retail stores, F&B outlets, medical centers, and residential apartments. Commercial units and shops sit on a seven-storey podium and the residential units are located on the ninth and 30th floors.

The mall is close to landmarks such as Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre along with The Paragon. The mall is located behind Mount Elizabeth Hospital and luxurious condos that line Mount Elizabeth and Cairnhill Road.

Lucky Plaza draws in fresh investors and buyers whenever new units are available. Based on URA restrictions seven shop units were able to change owners in the last year. The transactions included the purchase of a 538 square foot space located on the 4th floor $2.8 million ($5,209 per sq ft) on December 7 and the purchase of a 129 sq. ft space on the 3rd floor $1.05 million ($8,129 per square foot) the 21st of April.

There were three resales in Lucky Plaza. The most recent one was the 420 square feet space on the third floor which was sold at $3.3 million ($7,861 per square foot) on May 11.

A review of the commercial resales restrictions between August 2022 and August this year, by EdgeProp Singapore shows that the median price of retail units in Lucky Plaza is around $5,566 per square foot. The indicative rents range between $2.80 and $19.90 per month. This would suggest that there is an median 2.4% rental yield for shop unit landlords.

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In the second quarter of 2023, developer sentiment in the premier residential market shifted negative

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Hillock Green sales gallery

Based on research conducted by the National University of Singapore (NUS) Real Estate in the 2Q2023 survey of sentiment released on August 30th, a slowdown in worldwide economic activity is the most significant worry for senior executives in Singapore’s real estate development and construction sector. This was listed as the top threat from 92.5% of the respondents who were polled.

The slowdown in the Chinese economy is another significant impact on consumer and investor confidence, considering the fact that China is Singapore’s biggest exporter, representing more than 15% of the country’s non-oil exports in 2022, as per Institute of Real Estate and Urban Studies Director Prof. Qian Wenlan.

Hillock Green sales gallery combines all these advantages with other benefits such as access to first-class amenities.

Of the respondents, 72.5% indicated rising inflation and interest rates as a significant risk issue.

The government intervention to temper the market was ranked 3rd with sixty% for 2Q2023, a rise of just a bit in comparison to 54.5% in 1Q2023.

The impact of two round of property cooling measures that were implemented in the months of September 2022 and April 2023 are being felt. According to the survey, the main residential market was the most negatively affected in 2Q2023, and had negative net balance of 40%.

“Foreign buyers are the main source of significant demand for premium properties in the country,” said Qian. “The low performance of the high-end residential properties during the 2nd quarter may be attributable to foreign buyers currently paying a substantial 60% ABSD (additional buyer’s stamp duty] in order to buy any residence. property.”

The residential market in suburban areas however, was quite resilient, registering an unfavorable net balance of just 8%. “Among other reasons, the sluggish demand due to delays in construction in Covid continues to fuel sales among real homebuyers,” said Qian.

In 2Q2023 in 2Q2023 45% of developers were expecting an average or significantly greater number of units to be introduced within the coming six months. A little over fifty% of developers mentioned financing as their main concern in 2Q2023, which is an increase over 35.3% in the previous quarter.

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Portfolio of 20 strata commercial units for sale at New World Centre for $55 million

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Hillock Green in Lentor Central

A collection of 20 strata-titled office and retail units located at New World Centre which is a three-storey commercial building located on Jalan Berseh, off Jalan Besar which is for sale at an estimated value of $55million. The whole portfolio comprises a floor space of 39,504 square feet, which is approximately 57% of the total strata area of the building.

Portfolio units can be situated across the three levels of the property. The units on the ground floor are typically used for retail. They also have office space and entertainment spaces on the upper floors.

Hillock Green in Lentor Central District 20 residents will enjoy and profit from the neighbourhood’s ideal blend of a lively urban lifestyle and calm rural settings, which is located in the northern section of Ang Mo Kio town.

According to the marketing agent Delasa The vendors are prepared to sell the entire portfolio to one buyer or to strata units on an individually basis. The suggested price for the entire range of 20 units comes to $55million which is 1,392 per square foot on the total strata space of 39,504 sq feet. The prices indicative for the office spaces on the levels of 2 and 3 are at $1,265 per sq ft and the ground floor stores are valued at an average $2,380 per square foot. The buildings are to purchase on the basis of a private contract and a first-come basis.

New World Centre was built in the latter part of 1990. The three-storey building is comprised of 35 strata-titled office buildings and shops. It’s located on land with 70 years remaining in its 99-year lease. The building is situated about 250m from Jalan Besar Station, which is on the Downtown Line.

“This portfolio will appeal to a wide range of buyers, not just those who want to have the majority of commercial property located in a central, busy area due to its potential for en bloc sale,” says Karamjit Singh who is the director of Delasa. “The asking price is the possibility of an open sale option that could be realized by a consenting about 50% of the remaining owners”.

Singh adds it is possible to purchase the twenty units within the portfolio can be purchased either in a single unit or as clusters with a variety of combinations to fit the types of buyers. For example, a purchaser who is looking for a high-profile main road fronting showroom can choose from seven strata units that are spread over three levels of Jalan Besar. Jalan Besar podium amounting to 11,000 square feet, while those who prefer a larger area on one floor, for example, entertainment venues, can select a second floor one that is 15,000 sq ft. In contrast, smaller customers or investors can purchase in the area of 800 sq feet ground-floor shop or 500 sq feet office on the third floor.

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Changi City Point is sold for $338 million by Frasers Centrepoint Trust

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Hillock Green architect

The director of Frasers Centrepoint Trust (FCT) has announced that it is planning to sell Changi City Point to a buyer who will pay $338 million cash. The consideration was negotiated on a willing-buyer-willing-seller basis after taking into account the property’s independent valuation of $325.0 million as at July 31.

The trustee of the REIT, HSBC Institutional Trust Services (Singapore) has entered into a purchase and sale contract with the prospective buyer who is an investor from China. Chinese investment firm, on August 30. The transaction was handled through Cushman & Wakefield.

The divestment will be completed by November 15. When it is completed the REIT will be expected to generate about $329.7 million in profits after taking into account the fee associated with divestment, divestment related costs and the transfer tenants security deposits.

Hillock Green architect has successfully procured a residential site at Lentor Central.

As per the REIT manager, the company plans to make use of the net profits to pay off its loans by imposing more interest and lower FCT’s aggregate leverage pro forma at the end of June between 40.2% to 37.1%.

“This divestment forms part of the strategic review of our portfolio that aims to increase the resilience of FCT’s portfolio. It is in the spirit of our long-term goal to generate value for the unitholders of FCT. The estimated capital gain and net gain will be around $10.9 million and $20 million, respectively,” says Richard Ng the CEO of the manager.

As well as reducing FCT’s leverage in aggregate, Ng notes that the move will also decrease the cost of borrowing for its customers during the nine-month period that ending June 30. The divestment is also believed to boost the REIT’s hedge ratio of fixed rate loans, from 64% to 73% and each on an annual basis.

The divestment’s impact on the portfolio is expected to improve FCT’s commitment occupancy rate, its average gross profit per square foot and the REIT’s renters’ selling per square foot, and the average lease term remaining for the portfolio of retail properties.

“These make FCT in a better position to concentrate on our main suburban retail strategy moving forward,” he continues.

Changi City Point is a mall for retail located on the 5th floor of Changi Business Park Central 1. The building is comprised of three floors and a basement level. It it is linked to the Expo MRT station located on the East West and Downtown Lines. It is an area of net lettable (NLA) that is 19,366 square meters (208,453 sq feet).

After the divestment is completed the retail portfolio of FCT will consist of nine retail properties that are all situated in the suburbs of Singapore. The commercial property portfolio will cover an overall Net Lettable Area of around 2.7 million sq ft, with a an emphasis on the most important services and trades.

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GuocoLand reports 60% rise in revenue for FY2023, but 44% fall in net profit

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Hillock Green completion date

GuocoLand announced the company’s 60% increase in revenue y-o-y of $1.54 billion in FY2023, which covers the twelve months that ended June 30. In FY2023, revenue for the Group was up 72% to $882.9 million. However there was an impairment expense that was $46.9 million and an of 59% increase in interest costs to $149.7 million led to net profit to drop by 44% over the course of the year in the range of $268.8 million. The net profit for 2HFY2023 declined to 55% to $187.4 million.

Hillock Green completion date of this non-landed residential property boasts an enormous site area of 13,444.3 square meters and promises comfort, convenience, and modernism all at the same time.

The property group has incurred losses from an impairment amounting to $44.0 million for its stake of EcoWorld International in 2H2023 because of the adverse economic market conditions UK. In the wake of this, EcoWorld International’s other expenses for FY2023 and 2H2023 have increased up to $46.2 millions and $46.9 million respectively.

Revenue from the sale development properties was up 78% up to $753.0 million in FY2023’s 2HFY2023 and was up by sixty-two% up to $1.30 billion for FY2023. The more substantial property development revenue in both FY2023 and 2H 2023 resulted mostly due to the higher recognition of the sales for Meyer Mansion, Midtown Modern and Lentor Modern, each of which has been extensively sold. Additionally, Chongqing GuocoLand 18T has also contributed to the Group’s earnings in 2HFY2023, because it is one of the towers that houses residential units. has begun to transfer sold units to prospective buyers in the course of.

The revenue from investment properties was up 43% year-over-year at $94.8 millions in the 2H2023 period and increased 35% in a year-on-year period up to $169.6 million for FY 2023. This growth was driven by higher rental revenue generated by Guoco Tower, Shanghai’s Guoco Changfeng City South Tower and the first investment of Guoco Midtown Office, which began operations in the 2HFY2023.

Revenue from hotel investments was up 47% over the course of the year and reached $33.4 million during 2H2023 before doubling up to $68.7 million for FY2023. The gross profit per year for FY2023 grew 5% but decreased marginally for FY2023 2HFY2023. The slower increase in the gross profit in FY2023 and 2H2023 in relation to revenue growth resulted from being unable to recognize a one-time $79.3 million gain on fair value that was recognized under the cost of sales in 2H2022. If this fair value gain was not taken into account the gross profit of the company for FY2023 would have increased by 50% year-on-year and 34% over the same period in FY2023.

In FY2023, the firm reported gain of fair value $156.3 million, mostly from its integrated development Guoco Tower and Guoco Midtown.

GuocoLand’s board has announced a new payout of six cents for each share.

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