Month: November 2024

Emerald of Katong racked up sales of 825 units (97.5%) in just one month, at an average price of $2,617 psf. Don’t get left behind, be a part of this record-breaking turnout. Get in touch with your preferred property agent today to secure a slice of Emerald of Katong.

Renowned developer Sim Lian Group saw a very promising turnout from the launch of its newest project, Emerald of Katong. In this one-month period, Sim Lian Group’s 99-year leasehold condominium project has managed to sell 99% of its 846 units up for grabs. As of November 30, 825 units at the new Emerald of Katong project along Jalan Tembusu have been sold, reaching an average price of $2,617 psf.

During the launch of the project, which took place on November 15 to 17 and involved VIP and multiple unit sales on a Friday, followed by a public launch on the weekend of the 16th and 17th of November, the development sold 13 units short of its 846 units. These were the result of buyers retracting from their initial purchase.

The marketing and sales of the 13 units that were left out of the project were then held on the morning of November 30, where all 13 units were quickly taken after receiving 800 expressions of interest prior to the launch. Ismail Gafoor, CEO of PropNex, gave the comment.

Unsurprisingly, the launch of Emerald of Katong created a buzz for nearby prime District 15 East Coast developments. Right next to the Emerald of Katong is Tembusu Grand, a 638 unit project that was jointly developed by City Developments Ltd (CDL) and MCL Land. Since November 11, the 99-year leasehold Tembusu Grand project has sold 52 units, up to 581 units overall, amounting to 91% of the development, on average, at a price of $2,445 psf.

On July 2023, Tembusu Grand was officially launched with a 99-year leasehold project, and according to CDL, it is expected to be ready for occupation by April 2020.

The Grand Dunman, SingHaiyi’s 1008 unit freehold condominium, 18 units were also sold in November, bringing the grand total to 731 units, which is equivalent to 72.5% of the project at an average price of $2,531 psf.

When it comes to investing in real estate, location is a crucial factor to consider, especially in Singapore. The value of condos is greatly affected by their location, with those in central areas or near essential amenities having a higher appreciation rate. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown an upward trend in property values. Families also highly covet condos in these areas due to their proximity to good schools and educational institutions, making them even more attractive as an investment option. With the addition of new Singapore Projects, the potential for growth in these prime locations is set to increase even further.

It was launched during July 2023, and it is expected that the development will be completed by July 2023. Up until the 30th of November, The Continuum, a Sunway Development and Hoi Hup Realty joint venture, recorded 528 units sold (64.7%), including a strong buying spree last November.

The Continuum has enjoyed strong sales in November, selling 13 units on the 15th, 38 on the 16th, and 22 on the 17th, with a total of 73 units sold during this three-day weekend. Since November 09, The Continuum has recorded sales of 126 units, summing up the sale of 528 units or 64.7%.

The good news continues as The Continuum is 49% sold before the official launch of the project, leaving 51% of the units available for sale. According to Ismail Gafoor, CEO PropNex, “with more units being available, buyers have even more options to choose from. In contrast, Tembusu Grand sold a lot of smaller units.”

However, the common factor for the strong buying spree at The Continuum is the pricing of the units. The average pricing at Emerald of Katong is $2,617 psf, whereas the average pricing for The Continuum is $2,788 psf as freehold. This only means that a 6.53% premium has been reached, given that a freehold property typically commands at least a 15% to 20% premium over a 99-year leasehold property in the same neighbourhood.

Ismail Gafoor also said, “ Homebuyers are quick to comprehend the value proposition and have been extremely eager to switch to The Continuum.”

One-bedroom units at the Emerald of Katong that are 484 sq ft and two-bedroom units that are 624 sq ft are the most expensive based on caveats lodged. A total of 21 units sold at high prices, ranging from $2,901 psf to $2,958 psft. All these units are located on higher floors, particularly from the 16th to 21st floors.

The Continuum has also reached peak pricing, with pricing of over $3,000 psf in all 13 caveats that were recorded. Of these that sold in November, 11 units, 9 of which are two-bedroom units with a size ranging from 646 to 721 sqft, which sold for $3,003 psf to $3,084 psf. Two smaller three-bedroom units ranging from 872 sq ft were sold at $3,003 psf and $3,060 psf.

There are also lower floor units available, ranging from three to four bedrooms and between 1,066 sq ft to 1,270 sq ft, which sold at prices between $2,667 psf and $2,681 psf.

November has been considered to be a great month for new home sales, thanks to the primary source of new sales, which has significantly lifted the housing market compared to the same period last year. According to PropNex’s Ismail Gafoor, “The strong turnout in November will have a positive impact on the take-up rate in 2025 as well.”

The significant impact that the Emerald of Katong has caused during its launch will be noticed, and this will greatly affect the overall impact of new home sales in 2025. It is even predicted that this could be the best year in terms of units sold, and it will be interesting to see how it will develop as the year comes to a close.

Homebuyers who missed the chance to purchase any of the units at the Emerald of Katong now have the option to switch to The Continuum; however, they also have to brace for the premium pricing, given that the average pricing at The Continuum is $2,788 psf, including the 11% premium of freehold units that are suspended over 99-year leasehold units inside the development.

With all that is set, one thing is for sure with 2025, and that developers must be glad they were present in the primary market today, given that this is a fantastic time to benchmark its latest projects.

Welcome to the Emerald of Katong, the newest luxury residence that offers lavish living experiences. With 846 units available, this project offers a wide range of options for the condos. The project has gained attention since it was launched, and it is now considered to be one of the hottest properties in Singapore. In a month’s time, the Emerald of Katong has seen its units sold like hotcakes, reaching a whopping 99% of its total 846 units. In fact, there are only 13 units left after a total of 825 units were sold. The project officially made history when sales reached 97.5% and was sold for an average price of $2,617 per sq ft.

The marketing and sales event of the project began on November 15 and 16 with VIP and multiple unit sales and continued on to the weekend with a public launch on November 16 and 17. The initial buyers committed to purchase only to retract their commitment later on when 13 major buyers backed out.

However, these unsold units did not stay that way for long, as on 30th November, all the remaining units were sold after receiving an overwhelming 800 expressions of interest. CEO of PropNex, Ismail Gafoor stated that the response to the project was very promising.

Tembusu Grand, developed by CDL and MCL Land is located next to Emerald of Katong and has seen a surge in sales this year. In the past month alone, 52 units were sold, bringing the total sales to 581 units. This is equivalent to 91% of the development and is sold at an average price of $2,445 per sq ft. The development, which was launched officially in April 2023 has seen a lot of ups in its sales since then. The 99-year leasehold condominium can be ready for occupation as early as April 2020.

Grand Dunman, by SingHaiyi is a freehold condominium with a total of 1008 units. Out of these, 18 units were sold after the launch on 11th November bringing the total sales to 731 units, which is 72.5% of the project. The average price of these units is $2,531 per sq ft. The developers launched this project on 5th July 2023 and is expected to be ready by July 2023.

The Continuum, which is located along Thiam Siew Avenue is a freehold project developed by Sunway Development and Hoi Hup Realty has also done very well with sales since the beginning of November. Starting from 9th November, it has recorded 126 units sold, bringing the total sales to 528 units, which is 64.7% of the project. The average price of these units is 2,788 per sq ft.

The project has seen a lot of buying activity starting from 15th November when 13 units were sold, 38 units on 16th and 22 units…

The real estate market in Asia Pacific (Apac) continues to surpass the performance of its global counterparts, with Savills Research reporting higher growth rates in real GDP compared to the US and Europe in its global outlook report for 2025. According to Paul Tostevin, head of world research at Savills, this trend has brought more stability and confidence to the economic outlook, leading to increased investment and activity in the market.

In the first three quarters of 2024, Apac saw a 4% year-on-year growth in investment volumes, reaching a total of US$108.7 billion. The three markets that experienced the most significant growth in investment volumes during this period were Singapore (74%), South Korea (71%), and Australia (63%).

Savills Research predicts a 27% rise in global real estate investment turnover to US$952 billion in 2025, with investment activity expected to surpass the US$1 trillion mark for the first time since 2022. The report also indicates that global investments will recover to pre-pandemic levels by 2026, driven by stabilization in interest rates and restored investor confidence.

According to Alan Cheong, executive director of research and consultancy at Savills Singapore, the real estate market in Singapore is expected to mirror the global narrative. The report also projects a full investment recovery in Apac next year, driven by sectors such as tourism, living, and the industrial sector, particularly logistics and data centers.

Simon Smith, regional head of research and consultancy at Savills Apac, states that preconditions are in place for a rebound in real estate investment interest in the region in 2022. He adds that long-term structural trends should also support property values in growth markets like India and Southeast Asia.

The office sector remains an attractive option in Apac, accounting for 37% of total regional real estate investment in the first three quarters of 2024. This is significantly higher than the global average of 23%. According to the report, Singapore, China, South Korea, and Japan are the top cities in the region for office utilization, with occupancy rates exceeding 90%. Apac also maintains a strong presence in green-certified office spaces, with occupiers placing greater emphasis on environmental, social, and governance (ESG) factors.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art facilities. Condos, situated in sought-after locations, offer a fusion of opulence and practicality that appeals to both locals and foreigners. These residences come with an array of perks, including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them a desirable option for potential renters and buyers. For investors, these attractive amenities equate to greater rental returns and appreciation of property value in the long run. Condo units are certainly a valuable addition to the Singapore urban landscape.

In Singapore, there has been a rise in the importance given to the green agenda by office tenants. The market has also seen a slight increase in activity levels, with a higher number of leases being concluded. The rental rates for Grade-A office space in the Central Business District (CBD) are expected to remain stable from 2025 to 2026.

As a hub and gateway to the region, Singapore remains a top choice for new overseas brands. Prime retail developments continue to experience healthy demand, keeping rental rates firm. Demand remains strong in key sectors like logistics, advanced manufacturing, healthcare, and data centers in the industrial sector, despite cost pressures. This is expected to stabilize rental rates and capital values in the long term.

Alan Cheong reports that the rise in Artificial Intelligence (AI) adoption has led to an increase in the number of data centers being built in Singapore. More data center service providers are also using the country as a platform to identify suitable locations for infrastructure development.

“As global investment and activity return to sustained growth, the real estate industry must adapt to changing legislative landscapes and geopolitical dynamics while ensuring sustainable and socially responsible development to meet the needs of a changing world,” Tostevin concludes. According to the report, Apac is poised to become the top investment destination for family offices worldwide, with UBS projecting strong growth in the region.…

During the period of November 10 to 21, a development called Hill House stood out among all other condos in Singapore, as it achieved a new record of $3,267 psf. This achievement was made possible through the sale of a 452 sq ft two-bedroom unit on the fifth floor, which the developer successfully sold for $1.48 million on November 11. The new high price is only 0.1% higher than the previous record set in November 2023 and is just 0.9% lower than the average price of $3,127 psf based on the five transactions at the development last year. Hill House is a boutique development in prime District 9, with 72 units and a good mix of one-bedroom, one-bedroom plus study, two-bedroom, and three-bedroom apartments. Since its launch in November 2022, 29 units have been sold at an average price of $3,060 psf. It is currently under construction and is expected to be completed in the third quarter of 2026. The second spot on the list of condos that reached new psf-price highs during the period was taken by The Continuum, a freehold development on Thiam Siew Avenue, District 15. A new record of $3,084 psf was achieved through the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. This is only 0.4% higher than the previous record, which was set just the day before. The Continuum consists of six residential towers on two plots of land and has 816 units ranging from one to five bedrooms. Since its launch in May 2023, 489 units have been sold at an average price of $2,779 psf. It is expected to be completed by 2026. Lastly, Lavender Residence, a freehold boutique development in Boon Keng, District 12, made headlines by recording a new psf-price low during the period. The developer sold a 990 sq ft, one-bedroom + studio unit on the second floor for $1.61 million, or $1,626 psf, on November 17. This is lower than the previous low of $1,710 psf for a four-bedroom unit in June 2023. Lavender Residence has been fully sold at an average price of $1,984 psf and comprises 17 units ranging from studios to three-bedroom apartments. It is within walking distance of Bendemeer MRT Station.

Rewritten:

Investing in a Singapore Condo offers numerous benefits, including the opportunity to leverage the property’s value for further investments. This allows investors to use their condo as collateral to obtain financing for new investments, effectively expanding their real estate portfolio. While this strategy can increase returns, it also comes with risks. It is important to have a solid financial plan in place and consider the potential impact of market fluctuations before using this approach.…

The government has announced new measures to alleviate the financial burden on property owners in Singapore. In 2025, a one-time rebate of 20% will be given to owners of HDB flats and 15% to owners of private residential properties that are occupied by the owner.

The amount of rebate for owner-occupiers of private residential properties will be capped at $1,000. This rebate is based on the property’s annual value, which is the estimated rental income for the property if it were to be rented out.

This announcement was made on November 29 by the government, along with the news that all annual value bands of owner-occupier’s residential property tax rates will be raised from January 1, 2024 as part of Budget 2024.

With these changes, the government estimates that over 90% of private residential property owners and all HDB flat owners will see a decrease in their property tax for the following year. This move is aimed at easing the cost-of-living burden for Singaporeans.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain steady due to the low growth in private residential rents. On the other hand, HDB rents are predicted to increase by 4% by the end of this year, causing the annual value of HDB flats to rise.

To help offset any increase in annual value, the one-off property tax rebate may benefit HDB owners. For instance, if a HDB flat with an annual value of $30,000 currently pays $720 in property taxes, with no change in AV, the owner will only need to pay $576, saving $144.

Similarly, some owners of private residential properties may also benefit from the one-off rebate. For example, if the annual value of their property is $85,000, the property tax payable in 2025 will be $5,760. However, with a 15% rebate, capped at $1,000, the owner will only have to pay $4,896, saving $864.

Despite these measures, Lee argues that property tax rebates do not diminish the appeal of investing in residential properties in Singapore. The main appeal of such investments lies in the potential for capital appreciation, which outweighs the increase in property tax.

As Singapore condo continues to be a popular investment choice, one of the main factors driving its demand is the limited availability of land in the country. Being a small island with a rapidly growing population, Singapore faces a scarcity of land for development, resulting in strict land use policies and a highly competitive real estate market. As a result, property prices, especially for condos, remain consistently high, making real estate investment a lucrative opportunity with the potential for capital appreciation.

In conclusion, the revised property tax rates and the one-time rebates will largely benefit owner-occupied properties with lower annual values, as part of the government’s efforts to support Singaporeans in managing their cost of living.…

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Investing in a Singapore Condo offers numerous benefits, and one of the most significant advantages is its potential for capital appreciation. As a global business hub, Singapore boasts strong economic fundamentals that continuously drive demand for real estate. Over the years, the property market in Singapore has shown a consistent upward trend, with condos in prime locations experiencing significant appreciation. By investing in the market at the right time and holding onto the property for the long term, investors can reap substantial capital gains. Additionally, choosing a Singapore Condo can further enhance the potential for capital appreciation due to its attractive location and amenities.

In just two years, Jason Ng has built his property investment and training firm, Aurico Global, from the ground up to reach $52 million in assets under management. Ng is the CEO and executive chairman of Aurico, but this is not his first venture into real estate development. His journey began in 1993, when he was driven by a sense of responsibility to provide for his family. Growing up in a rental flat with six family members, Ng worked hard to land a well-paying job that would give him enough capital for his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Reflecting on the price, Ng notes that it’s hard to find a similar-sized house for that amount nowadays.

Ng quickly learned the ropes of property investment and management, expanding his real estate portfolio and also venturing into student enrichment and parenting training. With over 15 years of experience in the field, Ng is now accredited as a family life educator and has worked with the Ministry of Education and Ministry of Social and Family Development.

In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his diverse portfolio of businesses. These include JC Global Developments, which manages co-living investments and properties, Anchor of Life Training Consultants for property and investment training, and My Preschool Hub, a provider of preschool enrichment resources and programmes.

Aurico’s property portfolio covers a wide range of properties, including residential (co-living), commercial, and industrial assets. Under JC Global Developments, the company manages 380 co-living units in shophouses, condos, and landed properties, valued at over $30 million. Patrick Loke, a shareholder in Aurico, shares that the company plans to acquire more properties and aims to almost double its current slate to reach 600 units by the end of the year.

One of Aurico’s key strategies is acquiring valuable properties in high traffic areas below valuation. In September, the company purchased a two-storey shophouse on 321 Joo Chiat Road at $5.1 million, which was 12% below the valuation price of $5.8 million. This is a testament to the firm’s strong property investment team and Ng’s sharp property investment acumen. According to Ng, every property Aurico buys is purchased at below market valuation, ensuring that the company has already made a profit before even acquiring the asset.

Aurico also has its sights on commercial properties in strategic locations that are undergoing rapid transformation, such as the 99-year leasehold mixed-use development Woods Square in Woodlands. The company recently bought a commercial strata office unit at Woods Square for its own use, believing that this investment will put them at the forefront of changes in the area, including the upcoming Johor Bahru-Singapore Rapid Transit System. This also boosts operational efficiency, as Aurico can easily hire workers from across the border.

In line with the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030, Aurico has also acquired food factory assets. Ng explains that while they don’t plan on going directly into the F&B business, they see these investments as strategic additions to their portfolio. One of the properties is a food facility called Food Xchange @ Admiralty, strategically located near Johor and with a long lease balance of 36 years. Ng shares that this property stood out for its quality and competitive advantages, making it a valuable asset for food manufacturing businesses.

In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, which is listed on the Singapore Exchange. Ng has appointed Loke as the executive director of Autagco and plans to inject Aurico’s assets into the company. Autagco’s board of directors recently announced a strategic review to potentially diversify into property investment, co-living property management, education, and other businesses. With the controlling stake, Aurico plans to tap into the residential assisted living sector and is in the process of securing a suitable property for this purpose.

In just two years, Aurico has also earned a reputation for providing comprehensive and high-quality property investment education to aspiring investors. Ng’s dedication to providing training stems from his belief that investment education is essential but inaccessible to many. He’s designed his courses to make residential and commercial property investment accessible to anyone, regardless of their experience and background. In addition, Aurico offers participants the opportunity to leverage the firm’s network and strategies to enhance their investment portfolio, a valuable support system for beginner investors.

Ng is particularly passionate about helping millennials and Gen Z investors, who often feel like they don’t have the financial means to invest in property. With its comprehensive curriculum and hands-on support, Aurico is poised to empower individuals to make informed decisions and achieve their financial goals through real estate.…

The most profitable condo resale deal during the week of Nov 12 to 19 was the sale of a three-bedroom unit at Maple Woods. The 1,539 sq ft unit, located on the first floor, sold for $3.3 million ($2,144 psf) on Nov 15. The seller had previously purchased the unit in April 2009 for $1.28 million ($830 psf), resulting in a profit of $2.02 million. This translates to a 158% capital gain for the seller, or an annualised profit of 10.6% over a holding period of approximately 15 and a half years.

Maple Woods is a freehold condo situated on Bukit Timah Road in prime District 10. Built in 1997, it features 697 units ranging from two to four bedrooms, with sizes from 850 sq ft to 3,003 sq ft. It is just a five-minute walk from King Albert Park MRT Station on the Downtown Line, and is also in close proximity to prestigious schools like the Methodist Girls’ School and the Rail Corridor.

The development has seen 10 other resale transactions this year, all of which have been profitable deals. Three of the units sold garnered profits of over $2 million. The first unit is a three-bedroom, 1,787 sq ft unit on the eighth floor that was sold for $3.75 million ($2,099 psf) in July 1997. The seller made a profit of $2.15 million, having purchased the unit for $1.6 million ($895 psf).

The second unit, a 1,787 sq ft, three-bedroom unit, was sold for $3.82 million ($2,138 psf) on Sept 10. The seller, who bought the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third unit, a 3,003 sq ft, four-bedroom unit on the eighth floor, was also sold on Sept 10 for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a profit of $2.6 million.

The second most profitable condo resale transaction during the week took place at UE Square. The seventh-floor, three-bedroom unit measuring 1,528 sq ft was sold for $2.95 million ($1,930 psf) on Nov 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a profit of $1.65 million (127%) after owning the unit for nearly 27 years.

This deal is the fourth most profitable resale transaction ever registered at UE Square. The record belongs to a four-bedroom penthouse spanning 3,089 sq ft, which was sold for $6.27 million ($2,031 psf) on Oct 6, 2023. The seller, who bought the unit for $4.1 million ($1,327 psf) in December 2009, made a profit of $2.17 million.

UE Square is part of UE BizHub City, a mixed-use development along Clemenceau Avenue in District 9 and close to Clarke Quay. It comprises an 18-storey commercial tower, a four-storey shopping podium and a pair of 18-storey residential towers that house 345 units. A service road separates the residential and commercial components of the development.

The 345 residences at UE Square consist of one- to five-bedroom units ranging from 506 sq ft to 2,379 sq ft, as well as penthouses of 3,089 sq ft. The development is situated near the Fort Canning MRT Station on the Downtown Line.

Meanwhile, the most unprofitable condo resale transaction during the week was the sale of a three-bedroom unit at Tomlinson Heights. The 2,745 sq ft unit, located on the 19th floor, changed hands for $8.25 million ($3,006 psf) on Nov 19. However, the seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), resulting in a loss of around $601,000 (6.8%) after a holding period of almost 14 years.

The decision to invest in a condo in Singapore has gained immense popularity among both domestic and international investors, owing to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore presents a plethora of opportunities, with condos emerging as a top choice due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore, including exploring reputable Singapore Projects.

Tomlinson Heights is a luxury condo with 70 units, situated off Orchard Boulevard, just a stone’s throw from Orchard Road. It features a 36-storey tower with a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. Completed in 2014, the freehold development is within walking distance of the shopping malls along Orchard Road.

The transaction recorded on Nov 19 was the first caveated resale transaction at Tomlinson Heights since Jan 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller of this particular unit bought it from the developer in May 2011 for $8.38 million ($3,053 psf), making a profit of $2.12 million.…

Hong Lai Huat, a company listed on the mainboard, has formed a strategic partnership with co-living operator, The Assembly Place. This collaboration will see The Assembly Place managing Hong Lai Huat’s real estate and property development projects in Cambodia, introducing the co-living concept to the country for the first time.

Purchasing a condo has numerous benefits, including the potential to utilize the property’s value for future investments. Investors often use Singapore Projects as collateral to secure additional funding for new ventures, allowing them to diversify their real estate portfolio. While this strategy has the potential for significant returns, it also carries its own set of risks. Thus, it is crucial to have a solid financial plan in place and thoroughly evaluate the effects of market fluctuations before making any investment decisions. Consider adding Singapore Projects to your investment portfolio for added opportunities.

According to a joint release issued on Nov 28, the two companies plan to finalize key objectives within the next 60 days before signing a binding agreement. One of the main objectives is to conduct feasibility studies for fitting out available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia.

Read also: SLA awards Henderson Road co-living site to TS Group-TAP JV; Scotts Road site to Heritage At Scotts

The partnership also aims to promote Hong Lai Huat’s available commercial shop-house units at Royal Group Platinum and explore new sales channels in Singapore, Hong Kong, and Greater China’s first-tier markets. In addition, the partnership will provide ongoing after-sales asset management services and create employment opportunities in the local community.

Hong Lai Huat’s website states that the development is a mixed residential and commercial project with 851 residential and 50 shophouse units. It is situated 20 minutes away from Phnom Penh International Airport and is surrounded by 16 international schools and six sports facilities. The project is also located just 10 minutes away from Aeon Mall 2, the largest shopping mall in Phnom Penh.

Ong Jia Jing, executive director of Hong Lai Huat, expresses his excitement for the partnership and believes that it will enable the group to provide top-tier asset management services to buyers and investors in Cambodia, instilling confidence in their purchases. The Assembly Place’s CEO, Eugene Lim Ying Jie, also shares his sentiments, stating that the partnership is in line with their strategy to expand the co-living concept locally and internationally.

“With Hong Lai Huat’s high-quality and well-designed developments and TAP’s extensive experience in the co-living sector, we are confident that we can deliver exceptional value to our purchasers,” says Lim.

The signing ceremony was held at the CAMPUS by The Assembly Place on Nov 28.…

CBRE has announced the appointment of Michael Tay as the new deputy managing director of its Singapore Advisory division, effective from January 1, 2025. This promotion is in addition to Tay’s current role as the head of capital markets in Singapore and he will continue to report to Moray Armstrong, the managing director of Singapore Advisory.

According to CBRE, Tay will bring long-term leadership and strategic planning to the Singapore advisory business in his new role. He will work closely with Armstrong to develop and implement strategies, evaluate and execute investment opportunities, and drive business growth. This appointment showcases CBRE’s commitment to investing in top talent and providing exceptional leadership to its clients.

Armstrong commented on Tay’s appointment, stating that he is one of the most experienced and respected real estate professionals in Singapore with over 30 years of experience in the industry. He has held leadership roles across office services and capital markets during his 25 years with CBRE, displaying his wide range of expertise and knowledge.

Investing in a condominium in Singapore has emerged as a preferred option for both local and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a plethora of investment opportunities, with condos being particularly attractive for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to be mindful of, and the necessary steps to take when considering an investment in a condo in Singapore. For the latest information on new condo launches, be sure to visit New Condo Launches.

Tay has been a part of CBRE since 2000, primarily working with the office services team for almost two decades. He has worked with some of the biggest office building owners and prominent occupiers, further strengthening his understanding of the market. In 2019, he took on the leadership of the capital markets team, which has played a pivotal role in several significant investment deals in Singapore. Some of these deals include the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial.

Tay expressed his gratitude for the opportunity given to him by CBRE to grow in his career. He has thoroughly enjoyed his 25 years with the company, learning and working with some of the leading real estate professionals in Singapore. He is excited about his new role and looks forward to further contributing to the success of CBRE.…

Singapore has been ranked as the sixth-highest city in the world in terms of branding, according to the latest Brand Finance Global City Index. Released by London-based brand evaluation and strategy consultancy, Brand Finance, the index measures the brand power and perceptions of cities.

The rankings are based on a worldwide survey of 15,000 individuals in 20 countries, conducted in September. The participants were asked to rank 100 cities based on key performance indicators, to showcase the cities that are perceived as ideal places to live, work, study, visit, retire, and invest in.

Moreover, the respondents were also asked to associate certain attributes with each city. There were 45 attributes to choose from, grouped under seven pillars such as Business & Investment and Culture & Heritage.

Singapore’s overall ranking was greatly boosted by its performance in the Business & Investment pillar, where it ranked third globally. The perceptions assessed under this pillar include the ease of doing business, the strength of the economy, and whether the city offers a supportive environment for start-ups. The city also scored well for its low levels of crime and violence.

Investing in real estate in Singapore requires careful consideration of location, as it is a crucial factor in determining the potential success of a property. This is especially true in Singapore, where the location can greatly impact the value of a condo. Prime locations, such as those near essential amenities like schools, shopping malls, and public transportation hubs, or in central areas like Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown a higher appreciation in value. Families also seek out condos in close proximity to good schools and educational institutions, making these areas even more desirable and increasing their investment potential. When looking for investment opportunities in Singapore, be sure to consider the location carefully, as it can greatly impact the success of your investment. One prime example of a desirable location for condos in Singapore is the Singapore Condo, with its proximity to essential amenities and potential for high property value appreciation.

Alex Haigh, managing director for Asia Pacific at Brand Finance, highlights Singapore’s position as the “crown jewel” of the ASEAN region when it comes to city branding. He explains, “With its strong economic growth, attractive investment opportunities, and world-class infrastructure, Singapore solidifies its reputation as a leading global financial centre.”

Meanwhile, London maintains its top spot as the world’s best city brand, followed by New York, Paris, Tokyo, and Dubai.…

CapitaLand Investment (CLI) has announced its plans to expand its business in Australia during its investor day on November 22. In light of this, the company has appointed Angelo Scasserra as the CEO of CLI Australia and Rahul Bharara as its chief investment officer. These senior hires will join the company in the first half of 2025 to spearhead growth in the focus market.

Furthermore, CLI has earmarked A$1 billion ($876.7 million) to invest in Australia and increase its funds under management (FUM). In September, the company closed its Australian Credit Programme (ACP) with a capital of A$265 million. This maiden credit fund, backed by Asian investors, further solidifies CLI’s presence in Australia.

During the investor day, Lee Chee Koon, the group CEO of CLI, highlighted the company’s focus on private credit and its partnership with Wingate in Australia. He also mentioned the potential for growth in Australia and the wider Asia-Pacific region.

Interestingly, on November 25, the Australian Financial Review reported that CLI was planning to acquire Wingate. This move comes six years after CapitaLand divested its stake in Australand Property Group, which was later renamed Frasers Property Australia after being acquired by Frasers Property.

During the question-and-answer session, Miguel Ko, the chairman of CLI, addressed the decision to sell Australand and invest more in China, stating that it was made before his time. He also refrained from commenting on the decisions of his predecessors, stating that they “did not have a crystal ball” for the current situation in China.

In 2014, Lim Ming Yan, CapitaLand’s then-president and group CEO, announced the divestment of Australand amid “favourable” market conditions. This move was also intended to reallocate capital to the company’s core businesses in Singapore and China. CapitaLand sold its remaining 39.1% stake in Australand in March 2014, after partially divesting its stake in November 2013 to improve trading liquidity.

Investing in a Singapore condo requires careful consideration not only of the property itself, but also its maintenance and management. It is common for condos to come with maintenance fees, which cover the upkeep of shared areas and facilities. While these fees may increase the overall cost of owning a condo, they play a crucial role in ensuring the property remains in good condition and retains its value. To make this investment more passive, investors can engage a property management company to handle the day-to-day tasks of managing their condos. This allows the investor to have a more hands-off approach and enjoy the benefits of owning a condo without the stress of managing it themselves.

The recent appointment of senior hires and plans for expansion in Australia further solidify CLI’s commitment to the market and its goal of increasing its FUM to $113 billion.…