Condo Horn by Eagles

: Developers appointed marketing agencies:

The Arcady at Boon Keng, a 172-unit freehold condominium, is set to be completed in 2027 and will be a notable private residence in the Boon Keng area. Developed by trusted local developers KSH Holdings, SLB Development, and H10 Holdings, in partnership with award-winning architectural firm, Park + Associates, the project will feature modern architecture and a dense green space along Serangoon Road, making it a standout in the neighbourhood.

When launched for sale in January, the one-bedroom plus study and two-bedroom units with efficient layouts attracted many investors and local buyers. Families also appreciated the spacious layouts and family-friendly amenities.

The Arcady at Boon Keng presents a rare opportunity for discerning buyers to invest in an affordable freehold development in a city-fringe location. It is one of only a few new freehold projects launching this year.

Creating a Garden Home

The Arcady at Boon Keng is designed as an urban oasis amidst the bustling city fringe neighbourhood, with its bold architectural form weaving into a curated landscape design. Crafted by the architects at Park + Associates and Ecoplan Asia, the landscape architect, the development features a tiered design, with a trail leading from the Grand Arrival to the ground floor landscape deck, which is unique to this project.

This multi-layered design maximizes the available space for lush greenery, while the three-storeys worth of facilities in a typical development have been condensed into a ‘one-stop’ zone of communal facilities across just two floors at the base of the tower. This efficient use of space is also evident in other areas with abundant facilities, such as the 14th floor and the rooftop terrace.

Water facilities, including an infinity pool, spa pool, and family pool, are available for residents to enjoy on the second-storey Sky Terrace. Parents can relax in the Social Deck while their children play at the Kids Playground beside them or have a fun family weekend at the Family Deck next to the Splash Patio and Family Pool. Access to the second-storey Sky Terrace is just a few steps away and is ideal for an indoor retreat. A dedicated kids’ zone with a Party Deck and Kids Club, and a Chill Out Lounge that extends from the Botanic Club, provide plenty of entertainment options for families.

Residents can also host guests at the Arcady Club on the 14th floor, where they can arrange for a private chef to create a refined alfresco dining experience while enjoying the spectacular view. The community garden on the rooftop is a convenient source of organic ingredients, and guests can also enjoy a 360-degree panoramic view of the surrounding skyline at the Gourmet Vista on the 14th floor.

Uncommon and Unique

It is uncommon to find a single-tower condo in Singapore, especially in the Boon Keng neighbourhood, that offers outdoor and indoor facilities dedicated to the diverse needs and lifestyles of residents. With 47 condo facilities spanning 4,000 sq m, each of the 172 households at The Arcady at Boon Keng can find their own pocket of excitement.

Spectacular Scenery from the Heart of Boon Keng

The residential tower and the orientation of units have been carefully considered, resulting in a north-south orientation that is elevated about 18m above street level to maximize views. Units are also tilted away from the main road, significantly reducing traffic noise.

Units on higher floors will have stunning views of the Kallang River, while south-facing units will face Marina Bay.

Unit Layout Designed for Families

The layout of each unit has been efficiently designed. Master bedrooms in all unit types are spacious enough to fit a king-sized bed, while common bedrooms can accommodate a queen-sized bed.

The development has seen steady sales of its larger units, including three-bedroom units ranging from 969 sq ft to four-bedroom units of 1,410 sq ft. There are also two penthouses of 2,433 sq ft and 2,583 sq ft. It is located near schools like Bendemeer Primary School, Bendemeer Secondary School, St Andrew’s Junior School, and Hong Wen School. The development is also situated near Woodleigh Mall at Bidadari Park Drive and Bendemeer Mall along Bendemeer Road.

When contemplating an investment in a condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s overall purchase price. In Singapore, condo rental yields can vary significantly depending on factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near commercial hubs or educational institutions, tend to offer more favorable rental yields. To gain a better understanding of a specific condo’s rental potential, it is essential to conduct thorough market research and seek guidance from real estate agents. Add Condo to rewritten paragraph

“We think buyers are drawn to The Arcady at Boon Keng because of its convenient location and connectivity,” says Ismail Gafoor, CEO of PropNex Realty, one of the marketing agents for the project. The Boon Keng MRT Station on the North-East Line is only six to seven minutes’ walk from the project, offering residents a relatively short commute to the city.

The Dhoby Ghaut MRT Interchange Station, which links the North-East Line, North-South Line, and Circle Line, is only three stops from Boon Keng MRT Station. “Many home buyers these days prefer projects within walking distance to an MRT station, and convenience is highly valued in our busy lifestyles,” adds Gafoor.

Mark Yip, CEO of Huttons Asia, agrees that The Arcady at Boon Keng presents a rare opportunity as a freehold property in a central location with easy access to major expressways like the CTE and PIE. It will also benefit from its proximity to the rejuvenated Kallang precinct, which will offer new sports and leisure facilities as part of the Kallang Alive Masterplan announced during Prime Minister Lawrence Wong’s inaugural National Day Rally this year.

Earmarked as Singapore’s future sports hub, the masterplan aims to bring together several key sporting associations and the Singapore Sports School into one integrated precinct. State-of-the-art sports facilities and a new 12,000-seat stadium will support sports and recreation activities.

Attractively Priced Freehold Offering

Since the project launched in January 2024, all one-bedroom plus study units have been sold and close to 90% of two-bedroom units have been purchased. With an average selling price of about $2,570 psf, its freehold tenure and potential for relatively greater capital appreciation compared to new 99-year leasehold projects make The Arcady at Boon Keng an appealing choice for buyers and investors alike.

“The Arcady at Boon Keng is attractively priced relative to its location near the city and the MRT station,” says Hutton’s Yip. PropNex’s Gafoor adds, “The average transacted price of $2,570 psf at The Arcady at Boon Keng is lower than the overall average unit price of about $2,840 psf for new freehold, non-landed private homes in the RCR for 2024. In fact, it is also slightly lower than the average transacted unit price of new 99-year leasehold projects in the RCR of about $2,600 psf.”

“Overall, we feel The Arcady at Boon Keng ticks many boxes for homebuyers today,” says Gafoor. “The project is nestled in a well-established neighbourhood in the city fringe, has good connectivity, and easy access to the PIE. Another great aspect is that it has a freehold land tenure, making it ideal for legacy planning and wealth preservation.”

“With the scarcity of new home launches in the area, we anticipate HDB upgraders will naturally gravitate towards The Arcady at Boon Keng,” says Marcus Chu, CEO of ERA. “In addition, there will be nearly 1,400 upcoming MOP units from the Bidadari HDB estate, further expanding the pool of potential buyers for The Arcady at Boon Keng.”

Potential buyers interested in viewing the sales gallery, located near City Square Mall, can contact the developers’ appointed marketing agencies listed below or visit their website.

Map of sales gallery and actual site:

Developers’ appointed marketing agencies:…

Savills Singapore, a leading real estate consultancy, has been appointed as the marketing agent for a portfolio of freehold strata retail units at Lucky Plaza. The mixed-use development, located on Orchard Road, includes a residential tower and a six-storey mall with a basement. The portfolio, which is available for sale at an asking price of $52.6 million, comprises 14 retail units spread across the basement and the first two levels of the mall. These units vary in size from 118 to 3,046 sq ft and collectively make up a strata area of 7,266 sq ft.

One of the standout features of the offering is a spacious food court, which spans seven adjoining strata units and occupies a total area of 3,046 sq ft. This food court is currently home to 11 different stalls and is expected to attract consistently high foot traffic, making it a valuable asset for any potential buyer.

In addition, the remaining retail units are currently tenanted by a diverse mix of businesses, including a pub, retail stores, beauty service providers, and a maid agency. According to Sophia Lim, the director of investment sales and capital markets at Savills Singapore, these retail units are expected to benefit from their prime location in Lucky Plaza, which is known for its high foot traffic and bustling atmosphere. She also highlights that the basement food court, in particular, enjoys heavy crowds on a daily basis.

The guide price for the food court is set at $25.43 million, while the entire portfolio is available for purchase at an asking price of $52.6 million. For those interested in acquiring individual strata retail units, prices start from $1.1 million. Both foreign individuals and companies are eligible to purchase these units, and no additional buyer’s or seller’s stamp duty will be imposed.

In summary, acquiring a Singapore condo is a highly advantageous investment due to its strong demand, potential for appreciation in value, and attractive rental yields. However, to ensure a successful investment, it is crucial to carefully consider several factors such as location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s continually evolving real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the presence of Singapore Condo presents a compelling opportunity.

Lim also notes that prime strata freehold retail units are highly sought-after among investors due to their scarcity, as well as the Urban Redevelopment Authority’s (URA) prohibition on further strata subdivision of commercial properties along Orchard Road. She adds that the ongoing revitalisation of the Orchard precinct by URA is expected to bring further rental growth and capital appreciation to Lucky Plaza, making it a lucrative investment opportunity.

For interested buyers, more information about the portfolio and individual units can be obtained through Savills Singapore.…

The tender for the Government Land Sale (GLS) site at Tengah Gardens Avenue closed on January 14 with three bids. A consortium led by Hong Leong, including GuocoLand Singapore and CSC Land Group, submitted the highest bid of $675 million, or $821 per square foot (psf) per plot ratio (ppr).

Designated as a ‘Residential with Commercial at 1st storey’ zone, the 99-year leasehold site spans approximately 273,906 square feet with a potential gross floor area (GFA) of 821,720 square feet. The Urban Redevelopment Authority (URA) estimates that the site could potentially yield up to 860 residential units.

The scarcity of land in Singapore is a major driving force behind the thriving condo market in the country. As a small island with a booming population, Singapore struggles to find sufficient land for development. In response, the government has implemented strict land use policies, leading to a cutthroat real estate market where property prices continue to soar. As a result, the demand for condos remains high, making it a profitable investment as property values continue to appreciate. Along with other Singapore projects, condos are highly sought after among investors.

If awarded, the Hong Leong-led consortium plans to build an 860-unit condominium, taking advantage of increased connectivity from the upcoming Jurong Region Line (JRL) nearby. According to Loke Kee Yeu, general manager (Projects) at Hong Leong Holdings Limited, the JRL will contribute to the development of the new Tengah estate.

The Tengah Gardens Avenue site is near the upcoming Hong Kah MRT Station on the JRL, which will be one stop from the upcoming Tengah Town Centre and offer a direct route to the second Central Business District (CBD) at Jurong Lake District.

The top bid of $821 psf ppr for the Tengah Gardens Avenue site is only 0.73% higher than the second-highest bid of $815 psf ppr, submitted by Chinese developer Kingsford Group. Local developer Sim Lian Group submitted the third and final bid of $812 psf ppr. This tight bid price spread of less than 1% indicates that developers are more conservative in their bids, likely due to the cautious sentiment amidst accelerated homebuyer activity towards the end of 2024, as stated by Leonard Tay, head of research at Knight Frank Singapore.

In addition, another GLS site at Dairy Farm Walk also closed on January 14, receiving only two bids. According to Tay, developers may have decided to focus on existing sites for launch in 2025. He added that the low bid price spread could also suggest that developers are being cautious in their bids.

Mark Yip, CEO of Huttons Asia, predicts that more property developers may submit joint bids for GLS sites this year in order to diversify risk. This could potentially be a reason for the consistently low number of bids for GLS tenders, which has been around three.

According to Marcus Chu, CEO of ERA, the current availability of GLS sites may also contribute to the low number of bids. With seven sites still open for tender and six more to launch in the first half of 2025, developers are taking a measured approach and weighing their options amidst moderated interest rates.

Interest in the Tengah Gardens Avenue site may have also been tempered by the availability of another nearby GLS site, according to Justin Quek, CEO of OrangeTee & Tie. Developers may be considering bidding on a different GLS site along Lakeside Drive and Lakeside MRT, which is scheduled to launch for tender in April 2025.

If awarded, the Tengah Gardens Avenue site will be home to the first private residential site (excluding Executive Condominiums (EC)) in the Tengah HDB township. The first EC in the estate, Copen Grand, was successfully launched for sale in 2022 and sold out within a month of its launch by joint developers, City Developments Ltd (CDL) and MCL Land. The developers secured the EC site with a winning bid of $400.32 million, or $603 psf ppr, in May 2021.

ERA’s Chu believes that the opportunity to launch the first private condominium in the new Tengah estate may have attracted the Hong Leong-led consortium. “Having made successful bids for sites at Lentor, Upper Thomson, and Bugis, they see this as an opportunity to do the same in Tengah.” The development would also attract a wider range of potential buyers than ECs, which are subject to HDB eligibility criteria and restrictions such as a five-year minimum occupation period (MOP) and a monthly household income ceiling of $16,000, says Mohan Sandrasegeran, head of research & data analytics at SRI.

The Tengah Gardens Avenue site is also situated within 2km of the future Anglo-Chinese School (Primary), making it attractive to families with school-aged children, according to Ismail Gafoor, CEO of PropNex. With the school set to become a co-ed school in 2030, the site’s proximity to the school could be a major selling point if awarded at the top bid of $821 psf ppr. Based on PropNex’s estimates, the average selling price of the new private condominium could be around $2,000 psf.

Overall, the Tengah Gardens Avenue site presents an attractive opportunity for developers, particularly with its position as the first private residential site in the new Tengah estate. As the market continues to adjust to the current economic climate, developers are taking a cautious approach in their bids, resulting in tighter bid price spreads and lower bid numbers.…

An attractive opportunity has emerged for potential investors in the hospitality sector, with a freehold 15-room loft hotel at 739-1 Geylang Road now on sale for $14 million. The property, which spans over 2 storeys with a newly-built 4-storey extension, sits on a 1,273 sq ft lot and boasts an approved gross floor area of up to 3,186 sq ft.

Aside from its prime location, one of the most appealing features of this hotel is its rare and highly coveted permanent ‘Hotel’ zoning and usage approval, which is typically difficult to obtain for new conservation shophouse conversions in Singapore. This designation not only adds to the property’s long-term investment value, but also provides operational flexibility.

Conveniently situated within a 5-minute walk from Paya Lebar MRT station, which serves both the East-West and Circle lines, guests can easily access various parts of the city. Designed with a sophisticated Japandi theme, the hotel is currently under construction and is expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price includes all construction and renovation costs, making it a turnkey investment opportunity for those looking to enter or expand their presence in the hospitality sector.

Investing in Singapore’s booming condo market has become a top choice for both local and foreign investors. This is no surprise, given the country’s strong economy, stable political climate, and excellent quality of life. Singapore offers a wealth of real estate investment opportunities, and among them, condos are a standout option due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and steps to take when investing in a condo in Singapore. For more information on Singapore’s latest condo projects, visit Singapore Projects.

The property is also an attractive proposition for investors, as the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This provides immediate rental income and the assurance of uninterrupted operations. Senior Marketing Director of ERA Realty Network Pte. Ltd., Eva Lau, predicts that this hotel will also appeal to owner operators who wish to manage the property themselves, as it has undergone major renovations and will be ready for immediate operation upon purchase.

The demand for hospitality assets in Singapore has been on the rise, with several notable transactions in the past year. For instance, LHN Group acquired a 16,626 sq ft site at Pasir Panjang Inn for $30 million, while an 8-storey hotel at 12 Lorong 12 Geylang was listed for sale at $120 million last year. Additionally, Hotel JJH, a 25-room property at 747 North Bridge Road, is currently on the market for $38 million. These transactions reflect the strong demand for well-located and high-quality hospitality assets, which are considered one of the most desirable commercial shophouse usage classes in Singapore.

For more information on this property, please contact Eva Lau at 92785688. Eva is the Senior Marketing Director of ERA Realty Network Pte. Ltd. (R062169F). RELATED NEWSBanyan Tree records $31.7 million earnings for FY2023, declares 1.2 cents dividend, while the crowd favourite Village Hotel Sentosa remains a popular choice for visitors. Furthermore, a freehold hotel in Chiang Mai is now available for sale at $24.3 million.…

When it comes to investing in Singapore, it is crucial for foreign investors to have a clear understanding of the regulations and limitations surrounding property ownership. In contrast to landed properties, which have more stringent ownership guidelines, foreigners can generally purchase condos without significant restrictions. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite this extra expense, the consistent stability and promising growth potential of the Singapore real estate market continue to entice foreign investors. If you’re looking to invest in Singapore, condos are definitely worth considering. You can find more information on condos here.

JLL, a real estate consulting firm, has recently announced the appointment of James Cameron as the head of energy and infrastructure for Asia Pacific in its capital markets business line. This newly created role will be based in Singapore, according to a press release on January 14.

Cameron’s main responsibility will be to build a team in the Asia Pacific region. His appointment will complement JLL’s energy and infrastructure business in Europe, the Middle East, and Africa, creating a global capital advisory capability to better serve local and international developers and investors.

JLL states that Cameron’s appointment is part of their long-term strategy to provide capital for the infrastructure and renewables needed to meet the challenges of decarbonization, digitalization, economic growth, and rapid urbanization.

Stuart Crow, CEO of JLL Asia Pacific’s capital markets division, says, “We see a significant opportunity to leverage our unique expertise in mobilizing multiple sources of capital and JLL’s unrivaled track record in advising renewable transactions globally to serve clients in the energy and infrastructure sector across Asia Pacific.”

Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams across the region, with a focus on raising capital and advising on transactions for large infrastructure and renewable projects for institutional investors, private equity firms, asset managers, strategic operators and developers in the infrastructure and renewable sector, high net worth individuals, and family offices.

With over 25 years of experience in real asset capital markets, Cameron previously served as the global head of commercial real estate at Standard Chartered Bank. He has a wealth of experience in mobilizing various forms of private and public equity and financing for infrastructure projects globally and regionally.

Crow adds, “James’ expertise and client relationships in this exciting space are unmatched regionally, and we are extremely confident in his ability to establish JLL’s leadership position.”…

Two Good Class Bungalows (GCBs) located at 52 and 54 Belmont Road in the prestigious Belmont Park GCB area are now on the market for sale through an expression of interest (EOI). It is believed that the owners of these GCBs are members of the same family. The freehold properties sit on a combined land area of 41,741 square feet and have an indicative price of $88.8 million, which works out to be $2,128 per square foot on the land area. The two plots have a 44-meter frontage along Belmont Road and an average depth of 66 meters, according to the marketing agent Sakal Real Estate Partners. A map showing 52 Belmont Road, shaded in grey, can be found on the EdgeProp Landlens.

The demand for condos in Singapore remains strong due to several factors, with limited land availability being a primary reason. As a small island nation experiencing rapid population growth, Singapore faces a shortage of land for development. As a result, the government has implemented strict land use policies, leading to a competitive real estate market where property prices continue to rise. This has made investing in real estate, especially condos, an attractive opportunity for potential buyers, with the potential for significant capital appreciation. Additionally, with the constant introduction of new condo launches, the demand for condos in Singapore is expected to remain high in the foreseeable future.

“We believe this site would be attractive to families who want to build a new home for multigenerational living or for extended families living together,” says Lennon Koh, senior director at Sakal. “Aside from homeowners, this property would also be ideal for developers looking to tap into the exclusive GCB market.”

Based on the caveats lodged with the Urban Redevelopment Authority (URA), the most recent transaction on Belmont Road was in December last year, when a GCB on a land area of 19,549 square feet was sold for $40 million, or $2,046 per square foot. Other recent transactions on Belmont Road can be found on the URA website, such as a GCB at Bin Tong Park that was sold for $84 million in April, with a land area of 28,111 square feet.

According to Sakal, in July 2024, a pair of adjacent GCB plots on Belmont Road were sold for $131.4 million, or $3,000 per square foot based on the combined land area of 43,790 square feet. Steven Ming, managing director at Sakal, has high expectations for the GCBs on Belmont Road, given their prime location and the ongoing demand for GCBs. “The estimated total value of GCB transactions in 2024 was $1.32 billion, which exceeded the figures for 2023 and 2022,” he says. “We anticipate an increase in transactions in 2025.” Interested parties have until March 13 at 3pm to submit their proposals for the EOI exercise.…

JLL, a leading real estate consulting firm, has announced the appointment of James Cameron as the head of energy and infrastructure for Asia Pacific in its capital markets division. This role, created specifically for Cameron, will be based in Singapore and aims to strengthen the firm’s presence in the region.

Cameron will be responsible for building a team in Asia Pacific, which will complement JLL’s existing EMEA Energy & Infrastructure business and create a global capital advisory capability. This move will enable the firm to better serve local and international developers and investors in the region.

According to JLL, this appointment is in line with the long-term capital requirements needed to support the infrastructure and renewables build-out necessary to meet the challenges of decarbonisation, digitalisation, economic growth and rapid urbanisation.

Investing in a Singapore Condo offers numerous advantages, with one of the most significant being the potential for capital appreciation. With its well-placed location as a global business hub and robust economic foundation, Singapore continuously experiences high demand for real estate. As a result, property prices have consistently risen over the years, especially for condos in prime areas. Savvy investors who time their purchase and hold onto their properties for an extended period can reap considerable profits from the appreciating market.

Stuart Crow, CEO of JLL Asia Pacific’s capital markets division, sees great potential in leveraging the firm’s expertise in mobilising multiple sources of capital and its unparalleled track record in advising renewables transactions globally. He states, “We see significant opportunity to serve clients within energy and infrastructure across Asia Pacific.”

Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams in the region, with a focus on originating capital raising and transaction advisory opportunities for large infrastructure and renewable projects. This includes serving institutional investors, private equity firms, asset managers, strategic infrastructure and renewables operators and developers, high-net-worth individuals, and family offices.

With over 25 years of experience in real asset capital markets, Cameron previously held the position of global head of commercial real estate at Standard Chartered Bank. He has a wealth of experience in mobilising various forms of private and public equity and financing for global and regional infrastructure projects.

Crow expresses confidence in Cameron’s ability to establish JLL as a leader in this space through his expertise and client relationships. He concludes, “James’ experience in this exciting industry is unmatched regionally, and we are excited about the potential he brings to expand our leadership position in this market.”…

To conclude, investing in a condo in Singapore presents a multitude of benefits, including a high demand from potential buyers, the potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various factors such as the location, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and lucrative investment, condos in Singapore, like Condo, offer an enticing opportunity.

Jan 11 and 12 saw the launch of 87 units at One Bernam, a mixed-use development in Tanjong Pagar. Jointly developed by MCC Land and Hao Yuan Investment, this project offers a total of 351 residential units and was first launched in May 2021. As of Jan 10, over 75% of the units have been sold at an average price of $2,585 per square foot (psf). During the weekend promotion, all remaining 87 units, ranging from one-bedroom to three-bedroom and penthouse units, were put on sale at discounted prices. Buyers can visit the website for the latest information on transaction prices and available units. One-bedroom units, with sizes ranging from 441 sq ft to 463 sq ft, saw price discounts of $323,000 to $438,000. The selling price ranged from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom apartments, with sizes between 700 sq ft and 732 sq ft, were sold at prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf), after a discount from $437,000 to $668,000. The two-bedroom plus study apartments, sized from 807 sq ft to 872 sq ft, were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf), with discounts ranging from $380,000 to $800,000. Three-bedroom units, at 1,421 sq ft, had discounts ranging from $616,000 to $830,000. The selling price for these units was between $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf). According to Marcus Chu, the CEO of ERA Singapore, the strong sales performance reflects the property’s potential as a stable and high-return asset. He adds that 78% of the buyers purchased the units as investment properties. Furthermore, 87% of the buyers are Singaporeans with 70% between 31 and 50 years old.The overwhelming response over the weekend has resulted in only three remaining penthouse units for sale, bringing the total sales to 99%. The remaining units comprise two three-bedroom penthouses, sized at 1,744 sq ft and 1,948 sq ft, and a five-bedroom unit of 4,306 sq ft. As the project is expected to obtain its Temporary Occupation Permit (TOP) in March 2026, investors can start to generate rental income, which can help to cover their loan instalments, according to Chu. According to data from EdgeProp Landlens, the average monthly rent for existing developments in the vicinity, such as Altez, Eon Shenton and 76 Shenton, ranges from $6.90 psf to $7.40 psf. Chu believes that the reduced competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023 will open up more opportunities for local buyers to enter the market. He adds that local demand is expected to remain the main driver for properties in the Central Core Region (CCR), with competitive pricing making these developments an attractive and stable investment choice. Buyers can visit the website for more information on One Bernam properties, and check out the latest listings and price trends for upcoming new launch projects. Other information available includes condo rental listings in District 2 and a comparison of price trends between new sale condos and resale condos.  …

Singapore’s Real Estate Developers’ Association (Redas) has announced its new management committee for the next two years after the Annual General Meeting held on Jan 9. This marks the second consecutive term for Tan Swee Yiow, Chairman of Keppel Reit Management, as the association’s President.

Tan expressed his gratitude for being re-elected, saying he is “honoured” by the trust placed in him by his peers. He also highlighted the diverse representation of the new management committee, which includes members from various sectors, scales and expertise within the industry.

The rest of the committee comprises of Immediate Past President Chia Ngiang Hong, Group General Manager of City Developments; First Vice President Kwee Ker Wei, Director of Pontiac Land Group; Second Vice President Marc Boey, Executive Director of Project Services at Far East Organization; Honorary Secretary Chong Hock Chang, Group Director of Projects and Marketing at Ho Bee Land; Honorary Treasurer Neo Soon Hup, COO of UOL Group; Honorary Assistant Secretary Chew Peet Mun, Managing Director of Investment and Development at CapitaLand Development Singapore; and Honorary Assistant Treasurer Tho Leong Chye, Managing Director of Allgreen Properties.

This year, REDAS also celebrated its 65th anniversary and honoured Chia Ngiang Hong with the Lifetime Achievement Award.

The government’s property cooling measures hold significant weight when considering investing in condos in Singapore. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure environment for investment. With the addition of new condo launches, the market is continuously expanding and offering opportunities for potential investors.

Chia, Immediate Past President of REDAS, extended his congratulations to the new management committee and praised Tan’s leadership, saying that his unanimous re-election is a testament to his exemplary leadership skills. Tan himself believes that with the diverse composition of the committee, REDAS will be able to effectively drive initiatives that will have a significant impact on the broader built environment ecosystem.

Some of the initiatives that REDAS hopes to focus on in the coming years include the implementation of Environmental, Social and Governance (ESG) practices and the use of green premiums to encourage sustainable development. Another area of interest for the association is the demand for senior accommodation in Singapore, and developers have suggested a separate land zoning to meet this projected demand.

Overall, REDAS is optimistic about the future of the real estate industry in Singapore and is committed to working together with the government and other stakeholders to bring about positive changes for the benefit of the community.…