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.
After assuming the role of Lendlease CEO for Asia in May, Tony Lombardo moved to Singapore. His home for now is in the prime District 9 neighbourhood of Cairnhill, a short distance from 313 @ Somerset — incidentally, a shopping mall developed by Lendlease. Linked underground to the Somerset MRT station, the mall has seen strong footfall since it opened in December 2009, says Lombardo, adding, “I visit 313 quite frequently”.
ON the weekend of Nov 19 and 20, GSH Corp launched in Singapore its maiden residential development, Eaton Residences, a high-end condominium in Jalan Kia Peng in Kuala Lumpur City Centre (KLCC). The property exhibition was held at Fairmont Singapore in Raffles City. So far, 180 units have been booked, says GSH. The figure includes the 150 units taken up when the first phase of 280 units was launched in KL on Sept 20, and the units sold subsequently.
After a two-year drought with zero sales in 2014 and the lone en bloc deal of Thong Sia Building last year, the recent three deals topping S$1 billion foreshadow an awakening of the collective sale market.
Dressed in a monochromatic striped sweater and ensconced in one of the snug leather armchairs in his office, Kenny Tan, chairman and CEO of Link (THM) Group, says: “The property market is very challenging.”
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