News by Cecilia Chow

The year 2013 was a seminal one for property developers. That was when the URA private residential price index scaled new heights in 2Q2013, surpassing the two previous peaks of 2Q2008 and 2Q1996. At end-June 2013, the Monetary Authority of Singapore sprang the mother lode of macroprudential policies — the total debt servicing ratio (TDSR) loan framework — which when combined with the punitive property cooling measures, triggered a downslide in private residential property prices for 14 straight quarters.

Over the past three years, the government has repeatedly said that it is “too early” or “premature” for the property cooling measures to be lifted. This was despite increasingly strident calls by property developers and other industry players for some of the more punitive measures to be tweaked.

Australian-listed property developer and infrastructure group Lendlease will preview Park Place Residences at Paya Lebar Quarter (PLQ) on March 11. The project is slated to be launched on March 25.

When Colin Tan took over a company called Lianbang Ventures in 2005 in order to revive an abandoned shopping mall project in Melaka, his friends used to tease him about the firm’s name. That was when Tan decided to choose a company name that will endure.

CEL Development, the property development arm of listed construction group Chip Eng Seng Corp, will preview the 720-unit Grandeur Park Residences on Feb 18. The 99-year leasehold condominium is located next to the Tanah Merah MRT station at the corner of New Upper Changi Road and Bedok South Avenue 3. The units in Grandeur Park Residences will be priced at an average of $1,350 psf, says Raymond Chia, Chip Eng Seng’s executive chairman and group CEO.

In December, Knight Frank Singapore relocated from its office on the 30th floor of Hong Leong Building. As it had been a tenant there for 30 years, the move was captured on video and uploaded to YouTube on Jan 11. Twin sisters and receptionists, Anne and Irene Law, who have welcomed visitors to the Knight Frank Singapore office for a decade, shed tears as they left the premises.

At Sutera Harbour Resort in Kota Kinabalu, more than 2,500 people attended a New Year’s Eve party that featured a live performance by Singa­pore band Reverie and a 12-minute fireworks display on the waterfront. This was the third consecutive year that the resort had held such an event, and the turnout was the highest so far. The event was not only attended by hotel guests but also local residents. 

At 1 Keong Saik Road, the entrance to The Working Capitol coworking space is from the café on the first level. The café is a joint venture between The Working ­Capitol and the hospitality company Lo & Behold Group.

Coworking in Singapore has evolved in the past year and is transcending all commercial real estate space. One of the largest real estate players to weigh in on the trend is Singapore’s CapitaLand. “Many property developers entering this space think they can start their own coworking site,” says president and group CEO Lim Ming Yan. “It’s going to take a long time. That’s why we would rather work with someone who’s the best in the industry.”

Turning 125 is a milestone for Singapore’s oldest architectural practice, Swan & Maclaren, which was founded in 1892. While some veteran local architects bemoan the heartbreak of seeing the buildings they designed 30 to 40 years ago become victims of collective sales and replaced by shimmering towers designed by a new generation of architects, Swan & Maclaren has been more fortunate.