Month: December 2024

As we inch closer towards 2025, the built environment in Singapore is on the verge of a major transformation. The facilities management (FM) sector is facing the challenge of adapting to changing regulatory requirements, increasing cost pressure and rapid technological advancement. This transformation will be driven by three key factors, namely the mandatory energy-efficient regime, the impact of rising temperatures on energy costs, and the rise of adaptive reuse in construction.

The upcoming Mandatory Energy Improvement scheme, set to commence in the third quarter of 2025, will mandate existing energy-intensive buildings to undergo energy audits and implement energy-efficient measures. This requirement covers commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of over 5,000 sq m. These buildings will be required to reduce their energy consumption by 10% from pre-audit levels – a realistic target that can be achieved by implementing the right strategies.

To keep up with this requirement, asset owners are urged to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. The energy audits, which will provide detailed information on energy consumption patterns and performance gaps, will guide asset owners towards a strategy that aims to prolong the lifespan of assets, reduce operating costs in the long run, and contribute to a more sustainable built environment. Building owners can seek financial assistance through grants to cover the costs of energy efficiency upgrades.

Temasek Polytechnic is Singapore’s first smart campus and serves as a good example of the future of smart and sustainable facilities management. The institution embarked on a bold initiative to digitise its campus operations in 2021. The key highlight of the smart campus is a suite of solutions that automates various campus operations, including facility bookings, repair and maintenance work orders, crowd management, and temperature control measures. These systems are integrated into a common data environment that collects and analyses data, which is then visualised, monitored, and tracked at a control centre, enabling campus operations teams to make informed decisions and maximise the efficiency and sustainability of the building’s operational systems.

The rise in temperatures predicted for 2025 will further escalate cooling demands in buildings, leading to more investments in predictive technology. The use of air conditioning and mechanical ventilation (ACMV) systems already accounts for a significant portion of operational costs, making up about 60% of total energy expenses in many buildings. To mitigate this, building owners can implement energy-efficient solutions like energy recovery systems or thermal energy storage. Optimising the operations of chiller plants to match changing weather conditions can also bring down energy waste and costs.

Extreme weather events such as floods and urban heat pose a threat to the performance and longevity of critical infrastructure, including drainage and plumbing systems, which are integral to keeping precincts running smoothly. As such, there is a growing emphasis on understanding and mitigating climate risks in building operations. Singapore has experienced several flash floods in recent years, causing significant damage to properties. To address this, building owners and city planners can harness the power of web-based geospatial IT to identify flood-prone areas and extremely heat-exposed spaces and devise a comprehensive operational plan. This proactive approach can reduce the risk of equipment failure and downtime, improve chiller plant operations, and optimise energy use.

The construction sector is facing increasing costs, prompting a shift towards adaptive reuse, with the rate of redevelopment in Singapore rising in the past five years. According to Surbana Jurong (SJ), the rise in construction costs can be attributed to a surge in logistic shipping costs by 77%, labour costs by about 9%, and construction materials prices (e.g., copper prices up by 15%) as well as the shortage of mechanical and electrical (M&E) contractors. To keep pace with these changes, more developers are turning to smart design and engineering practices, including the use of collaborative common data environments to compare construction and operational costs.

Adaptive reuse is a response to rising construction costs. Platforms that support integrated digital delivery play a critical role in promoting sustainability in construction projects. For instance, the digital ecosystem provided by Podium, developed jointly by Lendlease and Surbana Jurong, connects developers, designers and the supply chain to drive sustainable building practices and high construction productivity. By consolidating data from various sources, all stakeholders in the building cycle, from design and construction to delivery and operations, gain valuable insights into project timelines, costs, quality, and safety. They can also leverage data analytics to optimise construction and operational costs, including lowering embodied carbon levels. Data on elements such as structural frames, superstructures, and foundations is particularly useful when making the decision to redevelop or reuse them. Retaining these elements can save time, material, and labour costs.

An attractive feature of purchasing a condominium in Singapore lies in its potential for capital appreciation. The country’s advantageous position as a prominent business center and its solid economic foundation fuel an unceasing demand for real estate. This has resulted in a consistent increase in property values over time, particularly in prime locations where condos are situated. Smart investors who enter the market at the opportune moment and retain their properties for a prolonged period can reap considerable profits from capital gains. With the addition of Singapore Projects, there are even more opportunities for capital appreciation in the country’s thriving real estate market.

Post-construction, Podium can integrate with other operational platforms to monitor building performance metrics such as energy, waste, water, air quality, and occupancy trends. This data can inform the building owners’ decisions, enabling them to achieve goals to reduce operational carbon levels. Additionally, Podium can help building owners identify the most efficient ways to manage their energy usage, especially for cooling purposes, which can account for up to 60% of total operational expenditure.

Smart buildings can help mitigate cost pressures by extending the lifespan of capital expenditure-heavy equipment, such as ACMVs, lifts, and air handling units. To achieve this, asset owners need to adopt a data-driven approach that prioritises energy savings to offset capital expenditure costs. This approach not only maximises the return on investment but also helps building owners comply with local and international regulations and sustainable financing requirements. With sensors monitoring and tracking the performance of each component in the building’s equipment, predictive maintenance can be implemented to reduce downtime and improve efficiency. For instance, sensors can detect wear or potential failure of chiller equipment by analysing vibrations. Similarly, heat-sensing scanners and imaging equipment can pinpoint abnormal temperatures or heat build-up, helping to detect potential problems with the system.

AI-powered smart monitoring systems can also be deployed to track various components of a building’s M&E system using sensors. These systems provide detailed information on the performance of each component, enabling asset owners to make informed decisions about the parts that need to be replaced within a specific timeframe based on the type of defects and the frequency of breakdowns. With access to such data, building owners can explore different options, such as retrofitting or replacing entire systems, to maximise efficiency and return on investment.

In conclusion, the FM sector in Singapore is facing a wave of transformation, driven by regulatory requirements, cost pressures, and rapid technological advancement. To ensure the sustainability of the built environment, it is imperative that the sector embrace digitalisation, data analytics, and sustainable practices. By leveraging these tools, building owners can promote sustainability, drive down costs, and secure long-term operational success.…

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Press Association Roberto Mancini believes Manchester City have been unrecognisable at times this season – but has backed them to come good in the second half of the campaign. A 2-0 loss at home to Everton has left City nine points adrift of Manchester United at the top of the Barclays Premier League, while the Toffees are now just four behind last season’s champions. The result was City’s first home loss of the campaign and Mancini raised the possibility that his team have become overconfident due to their antics in 2012. In his post-match press conference the Italian said: “I think that sometimes it can happen that one team like us – that did everything perfect in the last 15 months, or in the last 21 months, because we did this – can have one moment, one game, when we don’t play like usual. “All the players think they are the best in the world, and think that they can play with 80 per cent of their strength. But in the Premier League, every game is very tough. We can lose against anyone. This is football.” Asked if the statistics worked in City’s favour – they had 19 shots compared to Everton’s eight – Mancini added: “Every time we have more possession, we have more chances, but we don’t score. “Every team that comes here defends very well, every team that plays against us plays like it’s the last game. This is normal for the top team. We should understand this quickly.” read more

A major benefit of investing in a Singapore condo is the potential for high returns in the form of capital appreciation. As a leading business hub in the world, Singapore’s robust economic foundations attract a constant demand for real estate. This has led to a consistent increase in property prices over the years, particularly for condos in prime locations. By carefully timing their investments and holding onto their properties for an extended period, investors can reap significant profits from capital gains. To stay updated on the latest opportunities in the market, investors can also consider exploring the New Condo Launches in Singapore.

RelatedPosts Diving: Cameroon stop Nigeria’s Olympics star D’Tigers, D’Tigress await 2020 Olympics foes D’Tigress, 14 others storm Lagos for Olympic qualifiers The Nigeria Basketball Federation has assured Nigerians of its plan to bid for the hosting of either the FIBA 2021 Men’s Afrobasket Championships or the 2022 FIBA Women’s Afrobasket Championship. The Secretary General of the Federation, Afolabi-Oluwayemi Olabisi, made the disclosure on Monday in an interview with the News Agency of Nigeria in Abuja. She, however, said the federation’s immediate plan was the Men’s National Team’s qualification for the 2020 Men’s Olympics in Japan. Olabisi said: “We have two championships coming up – the women’s Afrobasket in 2021 and the men’s Afrobasket in 2023. “We are looking at the possibility of hosting one of these championships – either the 2021 Women’s Afrobasket or 2023 Men’s Afrobasket Championship. “Before then, we have the men’s Olympic qualifiers in 2020 and we are looking up to that so that we can qualify for Tokyo 2020 Olympics.” On the possibility of the women’s team qualifying for the 2020 Tokyo Olympics, Olabisi said Nigeria is not in contention for the only spot from the continent. She said as the second best team in Africa, the women’s national team has to wait for the next Olympic Games in 2024. She said: “As of today, there are only five spots available for Africa, out of which one is already secured by the host country, Japan. “So as the second best team in Africa, we actually thought of the possibility of maybe a wild card for the Tokyo 2020 Olympics, but there has been no official communication from FIBA. “The hope for the team is to win the 2021 Women’s Afrobasket and qualify for the 2024 Olympics.”Tags: Afolabi-Oluwayemi OlabisiD’TigressesFIBA Men’s 2023 AfrobasketFIBA Women’s Afrobasket read more

Mitt Romney’s faith as a Latter-day Saint was inevitably going to be a tough sell to the general public in a run for President, but it was nonetheless admirable that it was not a topic brought up during the three presidential debates. While his faith was never directly addressed, his faith will nonetheless have an effect on his policies in the White House, possibly more than any other president’s would have in 2012.Romney spoke at length in the debates about his foreign policy and economic plans, but never once addressed any issues pertaining to the American family, religious institutions or the protection of human life. Why was this? While some might attribute it to wanting to appeal to the moderate and independent voters, another possibility is his faith and its impact on his policies. By avoiding these topics, which play a major role in Latter-day Saint doctrines, Romney effectively avoided having to share his views on a range of issues with the American public. However, should he win the election, he will inevitably be called upon to address issues he has evaded so long, and we can only hope his values match up with what Americans want from their next president.Latter-day Saints are, traditionally, very family-oriented people. Family is at the core of the Salt Lake City-based church, and by extension, Romney’s policies are shaped by this. His proposed policies on gay marriage, illegal immigration and the use of birth control have been shown to be controversial issues in the past, but what remains to be seen is how his faith will affect his position on the topics if he becomes commander-in-chief.For instance, much has been made of Romney’s stances on contraception and abortion. In a 2007 debate with Mike Huckabee, Romney said he would support an amendment to the Constitution to establish that life begins at conception, adding that if the amendment were passed, abortion would be effectively banned and states could pursue their own laws banning it outright. Additionally, though he stated in a Missouri debate he did not plan to restrict access to birth control, he later approved a proposal put forth by congressional Republicans that would give employers the right to deny health care options to employees that contravened their religious beliefs. If Romney’s faith had been an openly discussed topic during the election, he might have had to answer why he believed a “religious belief” of an employer was more important than protecting the ability of a female employee to pay for birth control. This is not the type of leadership America needs in a leader, and we must be able to question if Romney’s faith will influence his policies regarding women’s rights.In another instance, Romney’s stances on immigration must also be scrutinized with his faith in mind. While the Latter-day Saints are not an immigrant group, they have a history of missionary work and establishing themselves in countries around the world. Romney’s proposed immigration policies will have a major impact on the millions of undocumented immigrants living in America and on business owners who employ them. However, his opinions on their status while they are living in America have changed frequently, particularly his suggestion that illegal immigrants “self-deport” back to their home countries. We can only hope that regardless of whether or not he is part of the Church of Jesus Christ of Latter-day Saints, Romney will understand the importance of protecting the rights of those looking to better their lives by coming to this country with honorable intentions.Although Romney has evaded discussing many of these issues in light of his faith, a Mormon President will inevitably affect the way the country is run. As the highest-profile representative of the church in the world, he must consider the impact of his actions and policies on the expansion of the church’s missionary work and its standing as an institution. While this is no small task, if he does not temper the power of his position with the intelligence and thoughtfulness we expect from our elected officials, the strain between America’s views and his religious conviction will create more problems than it will resolve. And this is something we cannot have — not from the man the rest of the world will look to as the leader of the free world.Everyone is entitled to their religious rights, but as a great leader, Romney must be an impartial judge that respects the rights of all individuals, religious institutions and non-religious institutions alike. We must unearth how Romney’s religion will impact his policies before electing him to the highest office in the United States. The American people deserve to know the beliefs and ideals of the man who could run the country for four years, and those include both his views as an individual and as a devout Mormon behaving in the best interest of his faith, regardless of whether or not he is directly questioned about it. “In a word” is a weekly Point/Counterpoint column in which two Daily Trojan staff members of opposing views are given 250 words to defend their stance on a topical issue. read more…

A 4,230 sq ft, six-bedroom penthouse at JadeScape has set the record for the most profitable condo resale transaction during the week of Dec 3 to Dec 10. The unit, located on the 23rd floor of the 99-year leasehold condo on Shunfu Road, changed hands for $10.15 million ($2,399 psf) on Dec 9. This marks a hefty profit for the seller, who had purchased the unit from the developer in December 2019 for $5.8 million ($1,371 psf). After owning the unit for five years, the seller reaped a profit of $4.35 million, translating to a capital gain of 75% or an annualized profit of 15%.

According to caveats lodged, this is the highest profit ever made on a unit at JadeScape. The previous record was from the sale of a 2,099 sq ft, five-bedroom unit on the 10th floor for $4.42 million ($2,108 psf) on Aug 12. The seller, who bought the unit from the developer in September 2019 for $3.28 million ($1,562 psf), made a profit of $1.14 million on the transaction.

JadeScape, located at the junction of Marymount Road and Shunfu Road in District 20, was completed in 2022 and has 1,206 units spread across seven residential towers. The units range from one to five-bedrooms, measuring between 527 sq ft to 2,099 sq ft. There are also two penthouses measuring 4,230 sq ft. The condo is walking distance from Marymount MRT Station on the Circle Line.

Read also: Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million

JadeScape has seen 72 other profitable resale transactions this year, with units selling at prices from $1,955 psf to $2,420 psf. According to data from EdgeProp Research, all of the deals were profitable, with sellers reaping gains ranging from $55,000 to $1.15 million.

The second most profitable condo resale transaction this week was the sale of a 1,410 sq ft, three-bedroom unit at The Imperial for $3.7 million ($2,624 psf) on Dec 5. The seller had purchased the unit from the developer for $1.3 million ($925 psf) in September 2004. This transaction translates to a gain of $2.4 million (184%) after holding the unit for 20 years.

The deal is the fifth most profitable resale transaction at The Imperial. The highest gain belongs to a four-bedroom unit measuring 3,918 sq ft that sold for $7.64 million ($1,950 psf) in June 2007. The seller, who had bought the unit for $3.99 million ($1,018 psf) in March 2006, made a profit of $3.65 million.

The sale of a 1,410 sq ft unit at The Imperial for $3.7 million ($2,624 psf) on Dec 5 reaped a profit of $2.4 million (Source: Google Street View)

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The demand for condos in Singapore continues to soar due to a variety of factors, with one major element being the limited amount of available land. As a compact island nation experiencing rapid population growth, Singapore struggles with a scarcity of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, causing property prices to continuously rise. As a result, investing in real estate, including condos, has become a highly attractive opportunity, offering the potential for significant capital appreciation. For the latest in new condo launches, be sure to visit Hornbyeagles.com.

Located on Jalan Rumbia, close to Fort Canning Park in District 9, The Imperial was completed in 2006 and comprises 187 freehold units across five blocks. The units include two, three, and four-bedders between 980 sq ft and 3,918 sq ft. It is walking distance from Fort Canning MRT Station on the Downtown Line and Dhoby Ghaut MRT Interchange, which serves the North-South, North-East and Circle Lines.

On the other hand, the sale of a one-bedroom unit at The Montana was the least profitable condo resale deal this week. The 635 sq ft unit went for $1.02 million ($1,603 psf) on Dec 6. The unit last changed hands in July 2014 for $1.18 million ($1,863 psf), which means the seller suffered a loss of approximately $165,000 on the transaction.

This is the third-largest loss suffered on a unit at The Montana, based on available caveats. The highest loss was from the sale of a three-bedroom unit measuring 1,109 sq ft that was sold for $1 million ($902 psf) in May 2003. The seller, who had bought the unit from the developer in December 1999 for $1.35 million ($1,215 psf), suffered a loss of around $347,000.

Read also: Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

The Montana is a freehold condo located on Jalan Mutiara, off River Valley Road in District 10. It was completed in 2002 and has 108 units housed in a single 12-storey tower. The units are composed of one to four-bedders, ranging from 549 sq ft to 2,659 sq ft.

There have been four other resale transactions at The Montana this year, all of which were profitable. These unit were sold at prices ranging from $1,930 psf to $2,371 psf, resulting in profits ranging from around $80,000 to $525,000.…

CapitaLand Ascendas Real Estate Investment Trust (CLAR) has announced its plan to acquire the DHL Indianapolis Logistics Center for $150.3 million. The Class A logistics property is being sold by Exel Inc. d/b/a DHL Supply Chain (DHL USA) at a 4.1% discount to the independent market valuation as of January 1, 2025. After adding transaction-related fees and expenses of $1.7 million, as well as a $1.5 million acquisition fee paid to the manager, the total acquisition cost will be $153.4 million.

The manager intends to use a combination of internal resources, divestment proceeds, and/or existing debt facilities to finance the acquisition, according to a press release dated December 17. As part of the deal, DHL USA will enter into a long-term leaseback agreement for the entire gross floor area (GFA) of the property until December 2035, with options to renew for two additional five-year terms. The lease term of approximately 11 years, with a built-in rent escalation of 3.5% per annum, will provide income stability and strengthen the resilience of CLAR’s portfolio.

Fully occupied, the property has a weighted average lease to expiry (WALE) of approximately 11 years, which will increase CLAR’s US portfolio WALE from 4.2 years to 4.7 years on a pro forma basis. The first-year net property income (NPI) yield of the proposed acquisition is approximately 7.6% pre-transaction costs and 7.4% post-transaction costs. The pro forma impact on the distribution per unit (DPU) for the financial year ended December 31, 2023, is expected to see an improvement of approximately 0.019 Singapore cents, or a DPU accretion of 0.1%, assuming the proposed acquisition was completed on January 1, 2023.

The property, which will be completed in 2022, is located in Whiteland, a submarket in southeast Indianapolis, Indiana. It is a fully air-conditioned, single-storey logistics building with a GFA of 979,649 square feet. Upon completion, this acquisition will increase the value of CLAR’s logistics assets under management (AUM) in the US by 35.3% to approximately $587.5 million. With this purchase, CLAR’s logistics footprint in the US will expand to 20 properties across four cities, with a total GFA of approximately 5.1 million square feet. The other logistics assets in the US are located in Kansas City, Chicago, and Charleston.

William Tay, Executive Director and CEO of the manager, states, “DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio… This is CLAR’s first sale and leaseback acquisition in the US and including this Class A logistics property, modern logistics assets will account for 42.3% of our US logistics assets under management.” He adds that with the long lease in place, this property will further enhance CLAR’s resilient income stream and contribute positively to their long-term returns.

The maintenance and management of a condo are crucial factors to consider when making an investment in one. These types of properties usually come with maintenance fees, which are responsible for the upkeep of common areas and facilities. While these fees may increase the overall cost of owning a condo, they also guarantee that the property stays well-maintained and maintains its value. To make this a more passive investment, investors can enlist the services of a property management company to handle the day-to-day management of their condos. Additionally, properties in Singapore, such as the ones featured on Singapore Projects, offer excellent opportunities for condo investments.…

.Singapore-listed real estate developer Wee Hur Holdings has announced a binding agreement to sell its portfolio of purpose-built student accommodation (PBSA) assets to Greystar for A$1.6 billion ($1.4 billion).The portfolio comprises seven assets located across multiple Australian cities, offering a combined total of over 5,500 beds. The transaction is expected to be completed within the next six months, subject to Greystar obtaining Foreign Investment Review Board (FIRB) approvals and Wee Hur obtaining consent from its shareholders. As part of the agreement, Wee Hur will retain a 13% stake through its subsidiary, Wee Hur (Australia).The group states that the net proceeds of approximately $320 million will be used to support Wee Hur’s strategic growth, including reinvestment in its core business and expansion into new areas such as alternative investments. This transaction is a testament to the group’s resilience in navigating complex market conditions, including the challenges posed by the Covid-19 pandemic and greenfield developments. Furthermore, it aligns with Wee Hur’s long-term strategy and ongoing efforts to diversify its portfolio in order to position the group for sustainable growth across multiple sectors.Wee Hur Capital CEO Goh Wee Ping expressed his satisfaction with the deal, stating that the company had taken decisive action to secure liquidity and certainty through its successful recap with RECO in 2021/2022. He added that two years later, as the PBSA market rebounded and their portfolio reached full stabilisation, they were able to capitalise on yet another opportunity to unlock maximum value for their stakeholders through this landmark transaction.

When looking into a potential investment in a condominium, it is crucial to also assess its potential rental yield. This refers to the yearly income from rent as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. In areas with high rental demand, such as those near business districts or educational institutions, one can expect better rental yields. To gain a better understanding of a particular condo’s rental potential, it is important to conduct thorough market research and consult with reputable real estate agents. Singapore Projects can also provide valuable insights into the rental market.…

Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. Due to its strategic location as a global business hub and strong economic fundamentals, Singapore experiences a constant demand for real estate. This has led to a steady rise in property prices over the years, especially in prime locations. Those who invest at the right time and hold onto their properties for an extended period can reap significant capital gains. To explore potential investment opportunities, consider browsing through Singapore Projects for the latest developments in the market.

On December 16, the joint venture between developers Hoi Hup Realty and Sunway Developments successfully sold 137 units at the executive condominium (EC) project, Novo Place, during the second round of balloting. This phase was open to second-time buyers who have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.Mark Yip, CEO of Huttons Asia, has reported that with the sale of these 137 units, a total of 444 units at Novo Place have been sold, representing 88.1% of the development. This milestone was reached within just a month of the project’s launch on November 16, making it the best-selling EC project of 2024, according to Yip.Yip also points out that this achievement reflects the strong interest from second-time buyers who are eager to upgrade their lifestyle. Many of the buyers are currently residents in the West region.As all four-bedroom units at Novo Place have been sold out, it is evident that there is a high demand for spacious homes at the executive condominium showflat. The showflat features a four-bedroom-plus-study unit, which has also been fully sold.Novo Place is situated at Plantation Close in the new Tengah town, just a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). The JRL provides direct access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip highlights that there are very few ECs that offer such close proximity to an MRT station.According to Huttons, many buyers have opted for the deferred payment scheme offered at Novo Place. This allows them to secure their desired unit first while deferring their home loan payments. Yip explains that this has helped ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat.Yip adds that ECs are in high demand among HDB upgraders due to their comparable quality and finishes to private condominiums but at a more affordable price. In addition, buyers can enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD). As of December 16, the average price of units sold at Novo Place is $1,656 psf.Want to know more about Novo Place? Check out the latest listings for properties available at this executive condominium.…

In a positive turn of events, developers have sold a total of 2,557 new private homes (excluding executive condos) in November, as revealed by URA data published on December 16. This marks a phenomenal 246.5% increase from the 738 units sold in October and a 226% jump compared to November 2023’s sales figures.

Obtaining financing plays a vital role in any condo investment. In Singapore, there are several mortgage selections to choose from, but it is essential to have knowledge of the Total Debt Servicing Ratio (TDSR) framework. This framework sets limitations on the loan amount that a borrower can acquire based on their income and existing debt obligations. Familiarizing oneself with the TDSR and consulting with financial advisors or mortgage brokers can assist investors in making well-informed choices regarding their financing. This ensures that they do not fall into the trap of overextending themselves financially. Thus, for a successful condo investment in Singapore, understanding the TDSR and seeking professional guidance is crucial.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, this recent surge in sales is the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is also the first time new home sales have exceeded the 2,000-unit mark in a single month since March 2013.

What has brought about this impressive sales performance? Lee Sze Teck, senior director of data analytics at Huttons Asia, explains that a major factor is the unprecedented number of project launches in November. There were a total of five private residential projects launched during the month, consisting of Chuan Park (916 units), Emerald of Katong (846 units), Nava Grove (552 units), The Collective at One Sophia (367 units), and Union Square Residences (366 units).

In total, developers launched 2,871 new homes (excluding ECs) in November – a staggering 438% spike from the previous month and a 196% increase from a year ago. Adding to the mix, the 504-unit Novo Place EC also began its sales in November. Including ECs, the total number of new home sales in November reached 2,891 units, marking a 277% month-on-month and 226% year-on-year increase.

As of November, developers have sold an estimated 6,344 units, slightly higher than the 6,317 units sold in the same period in 2023. This is on the back of 6,627 units launched for sale by developers in the first 11 months of 2024. In comparison, developers launched 7,515 units in the same period last year.

Top-selling projects in November include Emerald of Katong, Chuan Park, and Nava Grove. The 846-unit Emerald of Katong, located on Jalan Tembusu in the Rest of Central Region (RCR), emerged as the best-selling project by units and percentage sold in 2024, with a median price of $2,627 psf. Similarly, Kingsford Group’s 916-unit Chuan Park, situated on Lorong Chua in the Outside Central Region (OCR), sold 721 units (79%) with a median price of $2,586 psf. Nava Grove, developed by MCL Land and Sinarmas Land in District 21, sold 382 units (69%) in November at a median price of $2,445 psf.

What could have fueled this strong sales performance among new launches? OrangeTee’s Sun believes that pent-up demand and improved buyer sentiment following interest rate cuts in September could have played a role. She also notes that the attractiveness of deals offered by several prominent projects launched simultaneously could have further incentivized buyers.

Huttons’ Lee adds that momentum has been building up since the last quarter when projects like 8@BT (158 units) and Norwood Grand (348 units) saw a robust response. He also observes that buyers who missed out on their preferred unit in a particular project were quick to commit to a unit in other new or existing projects, resulting in an increase in demand across the market.

In a previous report by EdgeProp Singapore, it was revealed that the launch of Emerald of Katong had a ripple effect on neighboring projects in District 15, with developments like Tembusu Grand and The Continuum experiencing a rise in sales.

Looking ahead, a more subdued December is anticipated due to the school holidays and the festive season. Lee estimates a decline in new private home sales to around 200 to 250 units, bringing the full-year sales to about 6,500 units, slightly higher than the previous year. In terms of prices, Lee predicts a 5% full-year price growth, a moderate decrease from last year’s 6.8% growth.

Going into the new year, SRI’s Sandrasegeran expects new home sales to regain momentum in January 2025 with the launch of City Developments’ The Orie (777 units) on Lorong 1 Toa Payoh. He anticipates that the extended gap since Gem Residences in 2016 for new property launches in the area will generate pent-up demand, further driving buyer enthusiasm. Other projects expected to be launched in the first quarter of 2025 include Bagnall Haus (113 units), Aurea (186 units), and Tampines EC (760 units).

OrangeTee’s Sun believes that the surge in sales in November was a temporary phenomenon, and the rest of 2024 saw subdued demand due to the lack of significant private project launches. Huttons’ Lee, however, holds a more optimistic view for the new sale market in 2025, projecting a rebound in sales to between 7,000 and 8,000 units and price growth of 4% to 7%. For the latest listings and prices of Emerald of Katong, Nava Grove, Chuan Park, Union Square Residences, and other Condominium properties, check out Ask Buddy. You can also compare past condo sale transactions, see the most unprofitable condo transactions in the last year, and compare the price trend of HDB, Condo, and Landed properties.…

Hilton, a leading global hospitality company, has recently opened its latest property, the Hilton Garden Inn Beihai Jiafu, in the bustling coastal city of Beihai, China. This marks the company’s 100th Hilton Garden Inn in the Greater China region, showcasing its rapid growth and commitment to the Chinese market.

Strategically located, the 199-key property is situated just 2km from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, providing easy access for both business and leisure travelers. It is also a convenient 20-minute drive to Beihai International Passenger Port.

Investing in a condominium can offer numerous benefits, one being the ability to leverage the property’s value for future investments. Many investors use their condos as collateral to secure additional financing for other ventures, allowing them to expand their real estate portfolio. While this tactic can lead to higher returns, it is crucial to have a well thought out financial plan in place and to carefully assess the potential risks involved, such as market fluctuations. Furthermore, the constant influx of new condo launches provides even more opportunities for investors to utilize their existing properties to fund future investments. However, it is crucial to exercise caution and thorough planning in order to effectively utilize this leveraging strategy and maximize its potential benefits. To learn more, check out New Condo Launches.

President of Hilton Greater China and Mongolia, Qian Jin, stated in a press release on December 13th, “The opening of the Beihai Jiafu Hilton Garden Inn not only demonstrates our brand’s rapid growth but also reinforces our long-term commitment to the Chinese market.” This is a testament to Hilton’s first Hilton Garden Inn property in Shenzhen, which opened back in 2014. Since then, the brand has expanded to several other popular destinations in China, such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. There are also plans for more Hilton Garden Inn properties to open in China by 2025, including debuts in popular tourist destinations such as Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.

Additionally, to cater to the needs of the next generation of travelers, Hilton has launched the Hilton Garden Inn Gen A properties, a regional prototype specifically designed for the Gen Alpha demographic in Greater China. In June, Hilton announced the introduction of Hilton Garden Inn Gen A, and initial locations are already planned in Nanjing, Chengdu, Chengde, and Jinan.

The new properties will also contribute to the expansion of Hilton Garden Inn across the wider Asia Pacific region. Clarence Tan, Senior Vice President of Development, Asia Pacific at Hilton, shared that there are currently over 200 Hilton Garden Inn properties under development in the Asia Pacific region. With this impressive growth rate, Hilton remains committed to doubling its mid-market presence in the Asia Pacific region, with over 1,000 hotels expected to open soon.…

CapitaLand Investment Limited (CLI) is expanding its presence in Australia with the acquisition of Wingate Group Holdings’ property and corporate credit investment management business. The deal, worth A$200 million ($173 million), is expected to further boost CLI’s funds under management (FUM) in Australia by 30% to $8.3 billion, which is approximately 7% of its total FUM of $115 billion. This acquisition is in line with CLI’s 2028 ambition to reach $200 billion in FUM.

Investing in a condo in Singapore has emerged as a top preference for both local and foreign investors, thanks to the country’s strong economy, political security, and exceptional quality of life. The real estate market in Singapore presents various possibilities, with condos being a highly sought-after option due to their convenience, facilities, and potential for significant returns. This article will delve into the advantages, factors to keep in mind, and the necessary measures to take when investing in a condo in Singapore, Condo being a key factor to consider.

The acquisition of Wingate Group Holdings, announced on Dec 16, will add to CLI’s existing A$2.5 billion in FUM under Wingate’s management. This will bring CLI closer to its target of investing up to A$1 billion to grow its FUM in Australia, a market that it has recently shifted its focus to, after divesting its key assets in the country a decade ago to focus on other overseas markets, such as China.

According to the Australian media, CLI’s acquisition of Wingate was previously reported in November. Wingate is recognized as one of Australia’s leading private credit investment managers, having completed more than 350 transactions worth in excess of A$20 billion. This acquisition is not the first collaboration between CLI and Wingate, as they recently closed a A$265 million Australia Credit Program (ACP) in September.

CLI believes that the acquisition of Wingate will significantly enhance its proprietary deal origination networks, expand its access to institutional and private high-net-worth investors, and increase its geographical exposure in Australia. According to Paul Tham, CLI’s Group CFO, besides Australia, there are also opportunities for scalable private credit in other Asia Pacific markets, such as South Korea, India, and Japan. As CLI accelerates its geographical diversification efforts, Australia is one of its targeted markets with significant growth potential.

CLI’s decision to focus on Australia is supported by the growth of the country’s private capital market, which has seen a 33% increase in assets under management over the past 18 months, reaching A$139 billion as of April. A funding gap of A$146 billion is also expected in the commercial mortgage market by 2028.

This acquisition will further diversify CLI’s portfolio in Australia, which currently comprises logistics, business parks, office, and lodging assets across nine cities. CLI manages 34 logistics properties and business parks and four Grade A office buildings in Australia, and through its wholly-owned lodging business unit, The Ascott, it operates more than 13,500 lodging units in over 150 properties. Overall, CLI’s acquisition of Wingate is a strategic move that will contribute to its growth and strengthen its presence in the Australian market.…

A parcel of four freehold conservation shophouses standing at 762, 764, 766 and 768 North Bridge Road has been put up for sale through an expression of interest (EOI) at a guide price of $37 million. These shophouses are divided across two plots of land measuring 5,766 square feet, with an average land rate of $6,417 per square foot. The first plot consists of 762 and 764 North Bridge Road, sharing a land area of 2,891 square feet and a built-up area of 4,917 square feet, including a mezzanine level. The other two units, 766 and 768 North Bridge Road, sit on an adjacent plot of 2,875 square feet and have a built-up area of 4,657 square feet, including a mezzanine level.

Huttons Asia, through its associate senior marketing director Isabel Sim, is exclusively marketing the properties. Sim notes that the usable area of each shophouse can be increased by extending the rear to create an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This extension could potentially add an extra 1,000 square feet to each land plot. The current tenants include a fitness retail shop, a convenience store, and massage and reflexology service providers.

One of the main attractions of these shophouses is their commercial status, which exempts prospective buyers from Additional Buyer’s Stamp Duty (ABSD). This makes them a highly sought-after investment opportunity for both local and foreign buyers, who are interested in capital gains and a stable rental yield, says Sim.

Investing in a condo in Singapore brings with it a multitude of advantages, one of the most prominent being its potential for capital appreciation. The city-state’s prime location as a global business hub, combined with its robust economic foundations, continually drives demand for real estate. In recent years, property prices in Singapore have consistently shown a positive trend, particularly for condos located in sought-after areas. Those who wisely enter the market at an opportune time and hold onto their properties for an extended period can reap significant capital gains. With the added potential provided by a Singapore Condo, investing in this market is a sound choice for those seeking long-term financial growth.

Located in the historic Kampong Glam Conservation enclave, all four shophouses boast a prominent frontage along North Bridge Road, ensuring high visibility and footfall. The area is highly accessible via public transport, within walking distance to Bugis MRT Interchange, providing access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.

The strategic central location, rich historical significance, and vibrant commercial environment have made this area a popular destination for both locals and tourists. It is also home to iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, which sits on the grounds of the former Istana Kampong Glam.

Interested parties can express their interest through the EOI exercise, which will close on January 10, 2025, at noon. For more information, contact Isabel Sim Cheng Yi, associate senior marketing director of Huttons Asia Pte Ltd.…