PROPERTY PERSONALISED

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of August 5, 2019 | ISSUE 893-115

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

EPJ2 • EDGEPROP | AUGUST 5, 2019

PROPERTY PERSONALISED

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of August 5, 2019 | ISSUE 893-115

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park

Super rich in Nassim Singapore’s most prestigious address just saw a Good Class Bungalow sold for $230 million.

It is the latest in a string of record-breaking bungalow and luxury penthouse deals.

Why are the ultra-rich flocking to Singapore?

Turn to our Cover Story on Pages 6, 7 & 14.

SAM

UEL

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GEP

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The sale of the Good Class Bungalow at 33 Nassim Road is the biggest GCB deal in terms of absolute price

SpotlightM+S divests Duo’s office and retail components

for $1.58 bil ep3

Co-working The Great Room

opens at the iconic Raffles Hotel ep4

Eat Play Live Potong Pasir: The idyllic

town imbued with community spirit ep8

Gains and LossesResale unit at The Nexus

reaps $1.22 mil profit ep12

EP2 • EDGEPROP | AUGUST 5, 2019

PROPERTY BRIEFS

EDITORIALeditor | Cecilia Chowdeputy editor | Amy Tansenior writers | Charlene ChinTimothy Taywriter | Bong Xin Yinghead, copy editing | Pek Tiong Geecopy editor | Rachel Hengphoto editor | Samuel Isaac Chuaphotographer | Albert Chuaeditorial coordinator | Yen Tandesigner | Kim Sy

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Qingjian Realty unit acquires Phoenix Road apartments and shops via collective saleA row of 36 apartments and commer-cial shops on the first floor at 2/A-B to 24/A-B Phoenix Road has been sold to CNQC Realty (Treasure), a subsidi-ary of Qingjian Realty (South Pacific) Group. The collective sale amounts to $42.6 million, announced marketing agent Colliers International.

The sale price is above the asking price of $42 million, and works out to a land rate of about $630 psf per plot ratio, after factoring in the estimat-ed differential premium payable. The property sits on a 63,002 sq ft site and comprises 24 apartments and 12 com-mercial shops. The site has a 99-year tenure from 1969 and a gross plot ra-tio of 1.4.

“The market dynamics within a giv-en locale remains an important invest-ment decision driver. Based on our anal-ysis, District 23 – where the property is sited – presents good opportunities for residential development owing to the limited upcoming supply of private homes in the area,” says Steven Tan, director of capital markets & invest-ment services at Colliers International.

The boutique size and palatable quantum also add to the attractive-ness of the site, he says.

Each owner could walk away with estimated gross sale proceeds of $1.08 million to $1.44 million, depending on the size of their property. “We are de-lighted to achieve this great outcome in our first en bloc sale attempt and in a relatively quiet collective sale mar-ket as well,” says Vincent Chia, chair-man of the collective sale committee. “We are glad that the ageing proper-ty can now be redeveloped and have a brand-new look.”

Watten Estate Condo launches $536 mil en bloc sale bidWatten Estate Condominium, a 104-unit development on Shelford Road in the Bukit Timah area, is up for collective sale. The freehold development is on the market for $536 million, or about $1,738 psf per plot ratio (ppr).

Factoring in the upfront non-remit-table 5% additional buyer’s stamp duty will bring the land rate to $1,825 psf ppr, says marketing agent Huttons Asia.

The 220,234 sq ft site has a plot ra-tio of 1.4, and a total allowable gross floor area of 308,341 sq ft. It could be redeveloped into a 242-unit project with an average unit size of 1,270 sq ft. No development charge is payable due to the site’s high baseline.

“We have engaged a team of archi-tects to design by adopting the slopes of the undulating site so as to capital-ise on its redevelopment potential,” says Terence Lian, head of investment sales at Huttons Asia.

Angela Lim, deputy head of invest-ment sales at Huttons Asia, says: “The Bukit Timah area is perfect for fami-ly living, as it is close to green lungs such as the Botanic Gardens, MacRit-

chie Reservoir, Bukit Timah Nature Reserve and Singapore Island Country Club. Families looking for a home in the Bukit Timah area would appreci-ate large and resort-styled homes with lush greenery on an undulating site.”

Recent en bloc transactions in the area include Royalville and Crystal Tower, which were bought by Allgreen Properties for $477.94 million ($1,960 psf ppr) and $180.65 million ($1,840 psf ppr) respectively. City Towers was also sold for $401.9 million ($1,847 psf ppr), reportedly to a business unit linked to Hong Kong tycoon Li Ka Shing, as well as Dunearn Gardens to a subsid-iary of EL Development for $468 mil-lion ($1,914 psf ppr).

The Watten Estate Condominium site is close to Tan Kah Kee MRT Sta-tion on the Downtown Line. It is also within 1km to Raffles Girls Primary School and Nanyang Primary School.

The tender will close on Oct 18.

Pine Grove relaunched for en bloc sale with lower price of $1.7 bilThe owners of Pine Grove have re-launched the collective sale tender for the 99-year leasehold development, and have lowered their reserve price to $1.7 billion. The 660-unit former HUDC de-velopment, off Ulu Pandan Road and near Clementi Road, had launched a collective sale bid in February this year, with a reserve price of $1.86 billion.

The current reserve price translates to a land rate of about $1,214 psf per plot ratio, after factoring in payable differential and lease upgrade premi-ums. The majority of the owners, rep-resenting 80% of the development’s share value, voted during an extraor-dinary general meeting on Sunday, July 28, to lower the reserve price for the relaunch.

Pine Grove sits on an 893,219 sq ft plot, and the site can be redeveloped into a 24-storey residential project with 2,050 units having an average size of 914.9 sq ft. Located in District 21, the property is close to educational insti-tutions such as Henry Park Primary School, Singapore Polytechnic, Eunoia Junior College, and Yale-NUS College.

The tender closes on Aug 30.

Hotel redevelopment site at Waterloo Street with 999-year tenure on collective saleA 27-unit residential development at Waterloo Street, with a vacant com-mercial unit on its first floor, has been launched for collective sale. The de-velopment, called Min Yuan, comes with an asking price of $145 million. Accounting for a payable development charge of $19.55 million, the land price translates to about $2,678 psf per plot ratio, says marketing agent CBRE.

The property sits on a 14,629 sq ft plot at 62 Waterloo Street that has a 999-year tenure. While it is current-ly zoned for “residential with com-mercial at first storey” use under the 2014 Master Plan, the site can be de-

veloped into a hotel building at a plot ratio of 4.2, or a maximum permissible gross floor area of about 61,443 sq ft, based on URA Outline Planning Per-mission advice.

“The subject property presents a timely opportunity for buyers to capi-talise on the government’s Draft Mas-ter Plan 2019 announcement to further invigorate and anchor the Bugis, Bras Basah, Fort Canning and Civic District as a cultural and lifestyle destination,” says Galven Tan, executive director of capital markets and residential services at CBRE. The future hotel development will also enjoy unblocked panoramic views of Singapore’s CBD skyline and the Fort Canning Park, he adds.

Last year, tourist arrivals grew 6.2% y-o-y to 18.5 million, and investment demand for hotel assets has risen and the momentum has continued into 2019. “We are receiving more enquir-ies for hotel opportunities; and in fact, the pre-marketing activities for the sub-ject site have drawn strong interest due to its locational attributes,” says Tan.

In November last year, the neigh-bouring Waterloo apartments were sold to Fragrance Group for $131.1 million, and the developer announced its intention at the time to redevelop the site into a new hotel. That month also saw Golden Wall Centre at Short Street sold en bloc for $276.2 million to a subsidiary of Worldwide Hotels, which counts the Hotel 81 chain in its portfolio.

Min Yuan is in Singapore’s art, cul-ture, and heritage district, and close to the National Museum of Singapore, Singapore Art Museum, Stamford Arts Centre, and National Design Centre. It is served by Bencoolen MRT Station on the Downtown Line, Bras Basah sta-tion on the Circle Line, Bugis station on the East-West Line, and City Hall interchange station on the North-South and East-West Lines.

The public tender closes on Sept 3.

Logistics building Space@Tampines on the market from $170 milSpace@Tampines, an e-commerce and logistics development at 18 Tampines Industrial Crescent, has been launched for sale with an indicative price of $170 million to $190 million, announced sole marketing agent CBRE.

The development, by Oxley Hold-ings and Lian Beng Group, is an inte-grated, seven-storey, ramp-up building. It sits on a 417,645 sq ft plot that is zoned for “Business 2” use, and has a total gross floor area of 709,263 sq ft.

There are 24 showroom units and a food court on the first floor of the building, and 59 units across the re-maining floors. These units are suit-ed for warehousing and e-commerce businesses, as well as clean and light industries.

Space@Tampines is located at the junction of Tampines Expressway and Tampines Avenue 10, and is close to Ikea Tampines, Courts Megastore, and

Giant Hypermarket. It is also in prox-imity to Tampines Regional Centre and Pasir Ris Town. The development is ex-pected to benefit from redevelopment plans for the area around Paya Lebar Air Base when it relocates.

“This is a secure and high-yielding investment opportunity for investors. The property is strategically sited in the centre of five major residential estates boasting a population of more than 1.1 million,” says Rimon Ambarchi, exec-utive director of industrial and logis-tics services at CBRE. The five estates are Hougang, Pasir Ris, Punggol, Seng-kang and Tampines.

The expression of interest exercise for the sale will close on Aug 30.

Choe Peng Sum appointed as CEO of Pan Pacific HotelsChoe Peng Sum will be CEO of Pan Pa-cific Hotels Group from Sept 1, UOL Group said in an announcement to the Singapore Exchange.

In his new position, Choe will lead Pan Pacific Hotels Group and be respon-sible for the day-to-day operations of the group’s hotels and serviced apart-ments, marketing and brand stand-ards, as well as business development and expansion of the group’s hospital-ity business under the Pan Pacific and Parkroyal brands, said the July 26 an-nouncement. He will report to Liam Wee Sin, group CEO.

Choe’s most recent appointment was as senior adviser at Frasers Property, and he was formerly CEO of Frasers Hospitality International. He has more than 30 years of experience in the ho-tel industry worldwide including Singa-pore, Malaysia, Australia, Japan, Scot-land, the UK, and Germany.

UOL Group’s subsidiary, United In-dustrial Corporation (UIC), also an-nounced on the same day that Jonathan Eu will be appointed as COO of UIC from Jan 1, 2020. Eu is currently em-ployed as general manager (investment & asset management) at UOL Group, and is the grandson of Wee Cho Yaw.

His new areas of responsibility will include overseeing commercial opera-tions, with a key focus on developing the company’s business growth and expansion strategy.

CapitaLand’s JV project in Kuala Lumpur over 70% sold during launch weekendCapitaLand’s joint-venture residential development with Malaysia’s ParkCity

COLLIERS

HUTTONS ASIA

CBRE

ALBERT CHUA/EDGEPROP SINGAPORE

CBRE

The collective sale of the row of 36 apart-ments and shops amounts to $42.6 million

Watten Estate Condominium is on the mar-ket for $536 million, or $1,738 psf ppr

The Min Yuan development comes with an asking price of $145 million

The seven-storey ramp up building com-prises units suited for warehousing and e-commerce businesses

Choe Peng Sum has more than 30 years of experience in the hotel industry worldwide

EDGEPROP | AUGUST 5, 2019 • EP3

SPOTLIGHT

Group in Kuala Lumpur has achieved strong sales during its priority sales launch over the weekend of July 27 and 28. The 505-unit development, called Park Regent, saw more than 353 units (70%) sold at an average sell-ing price of RM1,100 ($365) psf.

Park Regent is in the Desa ParkCity town-ship in Kuala Lumpur, and comprises six apart-ment types of one- to four-bedroom units. Prices start from RM860,000, and units range from 872 sq ft for a one-bedder, to 4,887 sq ft for a four-bedder. About 80% of buyers are Malaysians.

The keen interest from homebuyers stems from the development’s attractive attributes, including well-designed homes, excellent loca-tion in a coveted neighbourhood, and its host of community amenities and green spaces, says Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, residential and retail.

“Desa ParkCity is currently home to an international community of approximately 16,000 residents – about 80% are Malaysians, while the balance is made up of a wide array of nationalities and expatriates,” says Joseph

Lau, group CEO of ParkCity. “Park Regent re-flects ParkCity and CapitaLand’s commitment to creating differentiated products that suit the needs of customers.”

Park Regent comprises twin residential blocks that overlook a lake, and is centrally located within the township and close to dining and re-tail outlets and international schools. The Kua-la Lumpur City Centre, Petronas Towers, and the city’s new business district Tun Razak Ex-change are a 25-minute drive away.

The development is expected to be com-pleted in 2023.

Property transactions in prime Central London fall 13% y-o-y in JuneIn prime Central London, the number of prop-erty transactions fell 13.1% y-o-y in June this year, with just 63 sales recorded per week dur-ing the month, according to a report by Lon-don Central Portfolio (LCP), which special-ises in prime Central London properties. The total number of property transactions to June this year is 3,244, the report adds.

However, on a quarterly basis, 2Q2019 saw a 23% increase in the number of transactions for prime Central London.

Meanwhile, average property prices for June stood at £1.88 million ($3.12 million), a fall of 2.2% m-o-m. On a quarterly basis, average prices for this market segment rose 2.7% q-o-q in 2Q2019.

“With property listings thin on the ground, there is more competition for good-quality stock. Nevertheless, exceptional value can still be found in the current market, espe-

cially for dollar-denominated investors,” says Naomi Heaton, CEO of LCP.

Average prices of newly built properties in prime Central London were £3.42 million in June, representing an increase of 33.9% y-o-y and a 54.5% premium over existing building stock. While still very strong, the premium has fallen from 70% six months ago. “This is due to a number of high-value, new-build sales be-ing completed with no equivalent transactions currently coming through,” she adds.

In Greater London, average property pric-es in June stood at £624,241. This is a rise of 1.7% m-o-m, marking the strongest month-ly performance for this segment so far this year. “Whilst there are signs of an improving market, London property faces further head-winds. The new Tory leadership and a ‘do or die’ stance on exiting the EU by October 31 may bring further uncertainty to our politi-cal climate,” says Heaton.

It is still too early to tell what impact this will have on the property market, but it “may dampen the rally we are beginning to see”, she says. — Compiled by Timothy Tay

| BY TIMOTHY TAY |

M+S has agreed to the sale of all the shares of its wholly owned subsidiary, Ophir-Rochor Commercial, to Allianz Real Estate and Gaw Capital Partners, for a sale consideration of $1.575 bil-lion. The offer was received through an expression of interest exercise con-ducted by JLL.

Ophir-Rochor Commercial is the developer and owner of Duo Tow-er and Duo Galleria, which make up the office and retail components of the mixed-use development, Duo. The sale consideration translates to $2,570 psf on the net lettable area of Duo’s office and retail components.

Duo Tower is a 20-storey tower with 557,972 sq ft of Grade-A office space and has floor plates of 26,000 to 31,000 sq ft. It is leased to several multinational corporations and local companies. Duo Galleria is a 59,873 sq ft retail mall that is 97% occu-pied, and connects to Bugis MRT In-terchange Station on the East-West and Downtown Lines.

The entire development also in-cludes the 660-unit Duo Residenc-es, as well as the five-star luxury ho-tel Andaz Singapore which occupies the top 15 floors of Duo Tower. These two components of Duo are not part of the sale.

Allianz Real Estate is acting on behalf of several companies in the Allianz group, while real estate pri-vate equity firm Gaw Capital is act-ing on behalf of a sovereign wealth fund account. Allianz will own 60% of the acquired assets, while the re-mainder will be owned by Gaw. The assets will be jointly managed by Al-lianz and Gaw.

“Duo has enormous potential given its fantastic location and connectivity,

and [the transaction] marks an impor-tant milestone for Gaw Capital in the Singapore real estate market,” says Kenneth Gaw, president and manag-ing principal of Gaw Capital Partners.

“With the office and retail assets performing well beyond expectations, we are delighted that the proposed transaction of $1.575 billion at a re-cord price for this area, has presented the opportunity to maximise returns for our shareholders,” says Kemmy Tan, CEO of M+S.

M+S is a 60:40 joint-venture com-pany owned by Malaysia’s sovereign wealth fund Khazanah Nasional and Singapore’s sovereign wealth fund Te-masek Holdings, respectively. It was set up in 2011 to develop Duo and Marina One, two integrated develop-ments in central Singapore.

M+S will continue to own Andaz Singapore and its Marina One assets. “We continue to see tremendous growth opportunity for our hotel Andaz Singa-pore, especially as Bugis continues its transformation journey as a vibrant, eclectic, and complementary leisure and business district to the existing CBD,” says Tan.

Gaw’s acquisition marks its second major office transaction in Singapore this year, following the acquisition of 77 Robinson Road in January. That transaction amounted to $710 mil-lion, or about $2,300 psf on the net lettable area of 301,567 sq ft of office space and 6,018 sq ft of retail space.

The acquisition of Duo Tower and Duo Galleria also expands Allianz Real Estate’s presence in the city-state, and comes on the back of its $537.3 mil-lion acquisition of a 20% stake in the Grade-A office tower, Ocean Financial Centre, in November last year. “Sin-gapore is an established 24/7 city and has one of the most institution-

alised commercial real estate markets in the world, given its position as a key headquarter location for corpo-rations in Asia,” says Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate.

Separately, Commerz Real has sold 71 Robinson Road, a 15-storey office building in the CBD, to SV Robinson for $655 million. The buyer is a mem-ber of Sun Venture group of compa-nies, and the deal was co-brokered by CBRE.

“The top bids were all very close, reflecting the positive outlook which local and foreign investors have for the office investment market. 71 Rob-inson Road is a very-high-quality building with blue-chip tenants – at-tributes which investors identified very quickly. The net yield in Year 1 is in the region of 3.5%,” says Jere-my Lake, managing director of capi-tal markets at CBRE.

M+S divests Duo’s office and retail components for $1.58 bil

E

THE EDGE SINGAPORE

CAPITALAND

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In January this year, Gaw Capital also ac-quired 77 Robinson Road for $710 million

The 505-unit Park Regent is in the Desa ParkCity township in Kuala Lumpur

The sale comprises the office component in Duo Tower and the Duo Galleria retail mall

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

EP4 • EDGEPROP | AUGUST 5, 2019

CO-WORKING

| BY BONG XIN YING |

Over the years, the iconic Raffles Ho-tel on Beach Road has hosted nota-ble guests such as Queen Elizabeth II, Michael Jackson, Karl Lagerfeld, Somerset Maugham and Rudyard

Kipling. Having closed since December 2017 for refurbishment, the property reopened on Aug 1 with co-working operator, The Great Room, taking up 15,000 sq ft in one wing of

Raffles Arcade at Raffles Hotel.This is The Great Room’s fourth location

in Singapore and is the first co-working space in a six-star hotel. From a design perspective, Jaelle Ang, CEO and co-founder of The Great Room, wanted to conceive a space that re-flected the hotel’s legacy as well as incorpo-rated the needs of its co-working members.

“Imagine if the walls could speak. You’ve had all these famous guests that have lived here before,” says Ang. “You think you start

with a blank slate [for this new space] but you don’t, because you are in the company of these guests and the stories [of the hotel] are greater than yourself; and we wanted to work with that narrative.”

Data-driven designThe Great Room’s pièce de résistance is its grand glass atrium or Drawing Room where its members can socialise, drink and dine. Apart from its signature shell chair, the space

incorporates custom-made cane and wicker furniture that is emblematic of Raffles Hotel.

With sustainability in mind, the floor is paved with small pieces of stone, marble and granite. “We used smaller pieces because these are usually discarded and we wanted to be sustainable. The smaller pieces also help us to create an interesting [floor] design,” she explains.

Apart from the Drawing Room, The Great Room also has a studio where meetings and

The Great Room opens at the iconic Raffles Hotel, eyes opportunistic expansion

Based on user data from its other locations that showed members preferred small meeting rooms for frequent meetings, The Great Room at Raffles Arcade is offering two ateliers that can each fit a group of eight

PICTURES: THE GREAT ROOM

Rates for hot offices start at $900 a month and dedicated offices start at $10,800 a monthMembers can find hot desks and hot office spaces at the workhall, where the space is designed based on data and features private phone booths

EDGEPROP | AUGUST 5, 2019 • EP5

CO-WORKING

events can be hosted for up to 40 people. Art pieces by local artist Tay Bak Chiang and portraits by Yian Huang, Ang’s husband and chief financial officer of The Great Room, adorn the walls. Huang was previ-ously a conflict photographer.

Based on user data from its other locations that showed members preferred small meeting rooms for frequent meetings, The Great Room is offering two ateliers that can each fit a group of eight. “We’ve now collected sufficient data across our locations and this has started driving our design more,” she says. Elsewhere, members can find hot desks and hot office spaces at the workhall. Here, the space is also designed based on data and features private phone booths.

Delivering valuePrior to its opening on Aug 1, The Great Room had achieved 75% occupancy for this location. Rates for hot offices start at $900 a month and dedicated offic-es start at $10,800 a month. “We know we command the highest rates in the city right now,” reveals Ang. “We [have achieved] breakeven well before the mo-ment we open. From a business performance point of view, this works really well.”

At Raffles Hotel, The Great Room’s “founding members” include Danish fintech company Go- Bear, private equity firm Vulcan Capital, venture cap-ital firm Reapra and a British football club. These companies take up 50% of the available space. “We still have some [companies] in stealth because it is their first time opening in Singapore. They are quite high-profile in the US, so they will announce their opening when they are ready,” Ang says.

She observes that The Great Room’s members are usually a mix of finance, technology and life-style companies. A “good proportion” of them are also new to co-working. She highlights: “This tells us that we are not competing in the same market as a lot of co-working operators. We are actually an option and alternative for people who, before this, didn’t think they were the co-working type.”

Ang says that with rising office rents, more com-panies are considering The Great Room’s offerings. According to Colliers International, Grade-A office rents in the CBD rose for the eighth straight quarter to hit a 10-year high of $9.93 psf per month in the second quarter of 2019.

“Our members are not price-sensitive but they are value-sensitive. It is still a business expense so they will compare this with what they used to get,” she says. “When you get the membership, it’s not just rental but the stacking up of many layers of things, whether it is service, amenities, common spaces, utilities, wifi, all those things they had to pay for. So, when they compare, this is actually better value.”

Targeting key financial centresDespite demand for The Great Room’s space, Ang is not aggressive in her approach to expansion. Apart from its Raffles Arcade location, The Great Room can be found at Centennial Tower, One George Street and Ngee Ann City. Outside Singapore, it has spaces in Gaysom Tower in Bangkok and One Taikoo Place in Hong Kong.

Next year, The Great Room plans to expand its overseas presence to include Shanghai. This is in line with its strategy to grow the brand in key financial centres. “If we win the key financial centres, then we will get to pick the rest of Asia. It doesn’t mean we won’t do the rest, but it means that we can do those more opportunistically,” she explains.

At the same time, Ang wants to deepen the brand’s presence in Hong Kong. Even with the ongoing po-litical unrest, she believes Hong Kong remains the right environment for businesses. “People will not pull out of Hong Kong so quickly, but there is defi-nitely that certain wait-and-see attitude,” she reck-ons. “The way I look at it, for the foreseeable future, key decision-makers [of companies] still sit in Sin-gapore and Hong Kong and you want to be where these decision-makers are.”

This view is echoed by some of The Great Room’s members who maintain business presence in the cit-ies the co-working operator is in. This bodes well for The Great Room’s expansion plans. Ang shares that when the brand first announced plans to open in new markets, its members at these locations were mostly companies that were already members in Sin-gapore. “They were the ones who were keen to get

a membership without seeing the final product be-cause they know what we are about,” she says. “It is harder for new companies to sign up because they want to see and touch before committing.”

Members that have been with The Great Room through its regional expansion include internation-al business accelerator Plug and Play, mobile ad-vertising company Mobkoi, and plant-based meat substitute product Impossible Meats. Plug and Play has offices in The Great Room in Singapore, Bang-kok and Hong Kong, while Mobkoi and Impossible Meats are working out of The Great Room in Sin-gapore and Hong Kong.

Convergence of co-working and hospitalityThe Great Room’s latest location at Raffles Arcade addresses what Ang foresees as the way forward for the co-working sector. She expects to see more con-vergence between hospitality and co-working in the near term as both sectors are aligned in the way that their services are focused on creating experiences and being hospitable to their guests and members. Ang’s belief is not without merit.

On May 6, the Accor hospitality group announced an ambitious plan to implement 1,200 spaces in un-der three years under the co-working brand WOJO. These spaces will be rolled out across Europe by 2022. “With the launch of WOJO, Accor continues to ex-ecute its augmented hospitality strategy, expanding into new verticals and becoming relevant in the dai-ly lives of consumers,” said Accor in a press release.

The way Ang sees it, this is one of “the boldest move for a hotel [brand] and will drive a lot of ac-tion and deals in that direction”.

Raffles Hotel is owned by Qatari hotel develop-er Katara Hospitality. However, since 2015, the ho-tel has been managed by AccorHotels after the lat-ter signed a US$2.9 billion takeover deal with FRHI Holdings, the owner of the Fairmont, Raffles and Swissotel hotel chains.

According to Ang, The Great Room has been ap-proached by several hotel groups in the last two years. In fact, its launch party at Raffles Arcade on July 20 was attended by hotel groups. “We don’t usually get hotel groups coming but a lot of them came to see if this is the new narrative for hotels,” she says. “Sometimes when [hotel groups] come to you, it may not be the right space or it may not be a city we want to expand into.”

The Great Room found the perfect fit in Raffles Hotel as their goals were aligned. “They established very early on that we were the ones they want to work with, and we worked very closely to build a product that is very fitting for this space,” Ang shares. “We discussed for nine months to make it work and we are talking about more deals in the long run as well.”

Expansion aside, Ang is focused on running The Great Room’s latest addition well. “This is home. We know we would do it well. We know we would do it justice. Raffles Hotel is an iconic national monu-ment. You got to do it justice, otherwise many Sin-gaporeans will scold us,” she quips.

Ang: This is home. We know we would do it well. We know we would do it justice

The Great Room’s pièce de résistance is its grand glass atrium or Drawing Room where its members can socialise, drink and dine

Having closed since December 2017 for refurbishment, Raffles Hotel reopened on Aug 1 with The Great Room taking up 15,000 sq ft at the hotel’s arcadeE

PICTURES: THE GREAT ROOM

EP6 • EDGEPROP | AUGUST 5, 2019

COVER STORY

| BY CECILIA CHOW |

The Good Class Bungalow (GCB) at 33 Nassim Road has an old-world gran-deur: sprawling 84,544 sq ft grounds with a tennis court and inground swim-ming pool, a guard post at the gate and

a winding road leading up to the double-sto-rey mansion perched at the top. The house is also shielded from prying eyes by a thick hedge of tall trees.

The GCB was sold for $230 million, making it the biggest GCB deal in terms of absolute price. Even in terms of price psf, it is one of the highest today – at $2,720 psf. “Given the land size of the Nassim Road GCB, the mag-nitude of the price – both in absolute and psf terms – is astounding,” says a source who de-clined to be named.

The seller is Winright Investment, a private company set up for holding property invest-ments and owned by property magnate Cheng Wai Keung, chairman of Singapore-listed Wing Tai Holdings, and his wife Helen Chow. Cheng declined to comment when contacted by Edge-Prop Singapore.

A property title search showed that the con-

tract for the purchase was exercised on May 10, with the transfer to the buyer completed and registered on July 4.

The buyer, SG Casa, is a trust, and based on records, the trustee is Leon Kwong Wing, a partner in the private client and tax team of law firm Withers KhattarWong.

The beneficiary or beneficiaries of the trust are believed to be Singapore citizens. This is because the structure of a trust (including the beneficiaries and the trustee) must be approved by the Land Dealings Approval Unit (LDAU) of the Singapore Land Authority, and all ben-eficiaries have to be Singapore citizens, says Lee Liat Yeang, senior partner of corporate real estate group at law firm Dentons Rodyk.

THOSE WHO CAN AFFORD ITWho has the appetite for a $230 million GCB in the most prestigious address in Singapore?

Some are speculating that the buyer is Eduardo Saverin, co-founder of Facebook who is worth US$9.7 billion ($13.3 billion) and a Singapore resident. He purchased the 10,300 sq ft, ultra-luxury penthouse at Sculptura Ardmore for over $60 million in 2017. However, some say that Saverin has outgrown the penthouse.

A two-storey mansion sitting on an 84,544 sq ft land may be more suited for his needs.

Another possibility is Macau businesswom-an Pansy Ho, group executive chairman and managing director of Hong Kong-listed Shun Tak Holdings. The newly minted “queen of

casinos” took over the reins of the casino empire from her father, Stanley Ho, popular-ly known as “Godfather” and “King of Gam-bling” in Macau.

Pansy Ho is said to have a net worth of at least US$4.5 billion. According to the South

PICTURES: SAMUEL EYO

Singapore’s most prestigious address just saw a Good Class Bungalow sold for $230 million. It is the latest in a string of record-breaking bungalow and luxury penthouse deals.

Why are the ultra-rich flocking to Singapore?

Super rich in Nassim

Part of the garden of the Good Class Bungalow at 33 Nassim Road

The double-storey mansion and swimming pool at 33 Nassim Road

EDGEPROP | AUGUST 5, 2019 • EP7

COVER STORY

China Morning Post, she purchased a house on The Peak, one of Hong Kong’s most pres-tigious districts, for US$114.6 million last year.

Shun Tak started investing in Singapore three years ago, with the purchase of a bun-galow on Cuscaden Road for $145 million in 2016 for redevelopment into a hotel; the en bloc purchase of Park House for $375.5 mil-lion ($2,910 psf per plot ratio) which set a re-cord in Singapore in June 2018; followed by the purchase of a bungalow at 14 and 14A Nassim Road for $218 million, which also has redevel-opment potential.

Others reckon the buyer of the GCB at Nas-sim Road could be the family of the late Hong Kong tycoon Cheng Yu-tung who passed away in 2016 at the age of 91. The Cheng family’s vast empire includes the Hong Kong-listed New World Development real estate busi-ness; Knight Dragon, the master developer of Greenwich Peninsula in London; and the Chow Tai Fook jewellery business. The fami-ly is reported to have a net worth of US$22.5 billion, making them one of Asia’s richest, according to Forbes.

Chow Tai Fook opened two jewellery shops in Singapore in 2014 and 2015, while New World Development is involved in two residential projects here: the 400-unit Artra on Alexan-dra View, in a joint venture with Far East Con-sortium International; and Cuscaden Reserve, the 192-unit luxury condo on Cuscaden Road, just off Orchard Boulevard, in a joint venture with Far East Consortium and SC Global De-velopments’ Simon Cheong.

THE APPEAL OF BIG PLOTS IN PRIME LOCATIONSWritten permission was obtained in 2016 for the subdivision of the GCB on Nassim Road into four smaller GCB parcels of 20,000 to 21,000 sq ft. However, the recent sale reflect-ed in the property title was for the entire plot of 84,544 sq ft.

“This shows that big plots in prime loca-tions that are elevated and offer great views are sought after by the ultra-high-net-worth individuals,” says Steve Tay, senior associ-ate vice president of List Sotheby’s Interna-tional Realty.

In 2013, the GCB at 33 Nassim Road was on the market for sale by tender, with JLL as the exclusive marketing agent. The asking price then was in the range of $250 million to $300 million. The property was subsequent-ly withdrawn.

The sale of the GCB for $230 million tops the string of record-breaking deals of luxury penthouses and GCBs in the past three months. “This phenomenon is due to various factors,” says Lee of Dentons Rodyk. “Singapore’s ap-peal to ultra-high-net-worth individuals has been fortified by its safety and security, polit-ical stability, and strong and stable currency.”

The biggest penthouse in Singapore – a 21,108 sq ft, five-bedroom penthouse at Wal-lich Residence at Tanjong Pagar Centre – was purchased by British inventor and the UK’s richest man, James Dyson. He followed up the purchase with that of a GCB on Cluny Road

| BY CECILIA CHOW |

A house at the end of a cul-de-sac on a quiet street on Astrid Hill is on the market with a price tag of $52 million, with several agents specialising in landed property

marketing it. The single-storey Good Class Bungalow (GCB) sits on a 26,983 sq ft, ele-vated freehold plot. The asking price there-fore translates to $1,927 psf.

The owner of the house is Shi Ka Yee, who is in her 70s and has been dubbed the “Ferrari lady” by the press for her mis-demeanours while driving her red Ferrari across town. She is said to have caused a traffic jam in the middle of Orchard Road when she stopped her Ferrari in front of a tour bus in 2016, blocking off three out of the five lanes. In February 2014, she re-portedly punched another motorist after getting into an argument with him along Telok Ayer Street in the CBD.

Standing at the corner of her property on Astrid Hill is a majestic rain tree that towers above the roof of her house. It is said to be at least 80 years old and has been there well before Shi moved into the house in 1979.

The tree’s overhanging branches, howev-er, became the source of a dispute between her and her neighbour, Nasrat Muzayyin and his wife Priscilla Goh, four years ago.

It happened in February 2015 when Muzayyin engaged an arborist to trim the overhanging branches from the rain tree, according to a court judgment. Shi then drove to the Muzayyins’ house and berat-ed the family. She left when Muzayyin told her to leave. But she returned shortly and removed the key from the “cherry pick-

er”, a lorry with a tall crane used by the arborist’s worker to prune the branches.

When Muzayyin stood in front of her Porsche to stop her from leaving with the key, Shi revved the engine and edged her car towards Muzayyin before driving off. The worker was stranded up on the rain tree for over an hour until he was rescued by the police and the Civil Defence Force.

The Muzayyins sued Shi for “the nui-sance of her ever-growing rain tree” and for Shi’s trespass onto their land. Muzayyin also sued her for assault and putting him in fear of injury. The magistrate ordered $4,000 as aggravated damages for Shi’s tres-pass on her neighbour’s land. He also or-dered $1,500 for her assault on Muzayyin.

Shi is said to have moved out of the GCB on Astrid Hill some years ago. She has decided to put it on the market after refurbishing it recently. According to Wil-liam Wong, managing director of RealStar Premier Group, there is some interest in the property, particularly from ultra-high-net-worth individuals who have recently become Singapore citizens, and trust funds.

Interest in GCBs has certainly picked up. Those transacted by RealStar Premier this year include: the GCB at Jervois Hill that was sold for $30.88 million ($2,032 psf) in January; the GCB at Yarwood Av-enue sitting on a 19,041 sq ft, 999-year leasehold site that was sold in Febru-ary for $22.15 million ($1,164 psf); and the GCB on Swiss Club Road, which oc-cupies a 15,263 sq ft, freehold site and changed hands for $18.8 million ($1,232 psf) in March. In June, RealStar Premier brokered the sale of the GCB at Ford Av-enue on a 19,838 sq ft, freehold site that fetched $17 million ($857 psf).

‘Ferrari lady’ puts Astrid Hill GCB on the market for $52 mil

PICTURES: SAMUEL EYO

The lawn of the sprawling, 84,544 sq ft grounds

The trees on the edge of the grounds provide privacy for the owners

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The Good Class Bungalow on Astrid Hill sits on a 26,983 sq ft, freehold elevated site and was recently renovated

CONTINUES ON PAGE EP14E

EP8 • EDGEPROP | AUGUST 5, 2019

EAT PLAY LIVE

| BY BONG XIN YING |

Originally a major sand quarry in the early to mid-1900s before becom-ing an agricultural area and even-tually today’s HDB estate, Potong Pasir literally means “cut sand” in

Malay. When one visits the housing estate now, it is hard to imagine the Potong Pasir of old. Comprising low-lying plains and ponds

linked to the Kallang River – one of Singa-pore’s main drainage channels – Potong Pa-sir suffered regular floods in the past. It was a major issue which plagued residents, nota-bly during the notorious floods of 1969 and 1978, when the town was submerged in up to 30cm of water and only the zinc and attap roofs were visible.

Today, the farms, kampong huts and mas-sives floods have become a distant memory

of the past. The last five decades saw mas-sive changes in the area, from the building of a bridge across the ponds, to the introduction of a village community centre, and the instal-lation of piped water and electricity. The pub-lic housing estate started to take shape in the 1980s. Construction commenced in 1982, and in 1984, the first high-rise HDB flats were com-pleted. These flats with their sloping roofs have since become a prominent icon of Potong Pasir.

Along the Kallang River in the estate, a 400m stretch between Potong Pasir Avenue 1 and Saint Andrew’s Junior School has been transformed into a recreational space under the Public Utilities Board’s Active, Beautiful, Clean Waters programme. The $7 million project was completed after 18 months and opened officially on July 12, 2015.

The revamped area now includes an open plaza with two shelters, boasting a holding

Potong Pasir: The idyllic town imbued with community spirit

The HDB flats in Potong Pasir are known for their iconic sloping roofs

PICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

View of The Poiz Centre and The Poiz Residences at the backgroundThe Kallang River runs through Saint Andrew’s Village, with the Junior College (pictured) linked to the Junior School and Secondary School via a bridge

EDGEPROP | AUGUST 5, 2019 • EP9

EAT PLAY LIVE

capacity of about 750 people; four lookout decks; and three rain gardens with plants that collect and treat the rainwater before discharging it into the river. The open area has become an outdoor classroom, giving stu-dents the opportunity to learn about plants and their ability to cleanse rainwater run-off, while the open plaza has become a new gathering space for residents.

A 1.2km stretch of the Kallang Park Con-nector, which links Kallang Riverside Park to Bishan-Ang Mo Kio Park, also runs through the estate, from Lorong 8 Toa Payoh to Po-tong Pasir Avenue 1. The lush greenery sup-ports significant communities of biodiversi-ty and provides shade from the blazing heat. The collared kingfisher, white-bellied sea ea-gle, and the white-breasted waterhen can all be spotted.

A kampong lifestyleAs a small, mature housing estate, Potong Pasir offers a pace of life that long-time resi-dents are accustomed to. On a typical week-day, the quiet of early morning is short-lived,

the silence shattered by the shrill calls and friendly banter from the wet market, just a short walk from Potong Pasir MRT Station. Along the pathway towards the river, the con-stant shuffle of bleary-eyed students hurrying to school soon becomes a backdrop to the heavy chopping beats from the butchers. The young and the old mingle amid the scent of soya milk and freshly-baked croissants from N&B Snacks (#01-31) round the corner, the inviting aroma of coffee powder and beans from Chop Hua Heng (#01-27), and the fra-grant economic bee hoon from Broadway Food Centre at 147 Potong Pasir Avenue 1. A beautiful cacophony.

Having called Potong Pasir home for the past 22 years, Raj Ruthran, 25, an alumnus of St Andrew’s or “true-blue Saint”, can identify with this daily morning scene. It takes a vil-lage to raise a child, and Ruthran has expe-rienced it first-hand, for he grew up attend-ing Saint Andrew’s Village (SAV) at Potong Pasir. A mega cluster of schools of the Saints family, SAV comprises Saint Andrew’s Junior School, Saint Andrew’s Secondary School, and

Saint Andrew’s Junior College. Students and alumni are referred to as “Saints”.

In the past, the three schools were locat-ed in various parts of Singapore. It was only in the 2000s that plans were set in motion to relocate the schools to Potong Pasir as part of the SAV project. The renovation and expan-sion of the Junior School started in 2003, to-gether with the construction of a new Second-ary School opposite the Junior School along Francis Thomas Drive. The construction of the Junior College began after the Second-ary School vacated the site and shifted to its holding location. SAV was officially opened on Aug 26, 2006. It also houses the (Angli-can) Diocesan Office, a kindergarten, three church buildings and a hostel.

New mall, new lifeIn 2015, new life was breathed into the sleepy neighbourhood with the opening of a mixed-use development comprising The Poiz Cen-tre, which offers 77 retail units and seven res-taurants, and 731-unit The Poiz Residences which sits right on top. The offerings of re-

tail and F&B outlets expanded in the district, and residents can now enjoy the mouth-wa-tering bites from Kopi & Tarts. Their signa-ture pastry line-up features original egg tart to cheese egg tart; as well as kaya butter toast and chicken curry puffs. More F&B outlets are set to open at The Poiz Centre.

“[The Poiz Centre] has introduced some new food players with Starbucks and Japanese stalls, which gives a bit of a modern touch to the town,” says Ruthran. “But the food culture remains ‘hawker-centred’, with the occasion-al fast-food joints sharing a slice of the pie.”

Jasmine Sim, who attended Saint Andrew’s Junior College in 2008, remembers fondly the “spider-web” play structure right out-side Potong Pasir Community Club. Sim and her friends would pass by the structure on their way to the MRT station after school, and would spare a good 10 minutes to hang out there or even climb up the roped formation.

“I hope Potong Pasir never changes. I love the idyllic feel and the community spirit, and this is something that is very rare now that everywhere is being urbanised,” says Sim.

PICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

The “spider-web” play structure right outside Potong Pasir Community Club is a favourite spot for students N&B Snacks is an old-school shop that sells soya milk with peanut dumplings, silken tofu and croissants

Broadway Food Centre is an unassuming hawker centre at 147 Potong Pasir Avenue 1Residents frequent the Potong Pasir wet market

Located near the hawker centre, Chop Hua Heng sells coffee powder and beansKopi & Tarts at The Poiz Centre has a variety of egg tarts, toast, and puffs

E

EP10 • EDGEPROP | AUGUST 5, 2019

DONE DEALS

Residential transactions with contracts dated July 16 to 23Singapore — by postal district LOCALITIES DISTRICTS

City & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

PROJECT NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/

FLOOR AREA(SQ FT)TRANSACTED

PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE

PROJECT NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/

FLOOR AREA(SQ FT)TRANSACTED

PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE

District 1 MARINA ONE RESIDENCES Apartment 99 years Jul 17 1,163 2,845,000 2,447 2017 New SaleMARINA ONE RESIDENCES Apartment 99 years Jul 19 1,152 3,250,000 2,822 2017 New SaleMARINA ONE RESIDENCES Apartment 99 years Jul 19 1,152 3,408,570 2,959 2017 New SaleMARINA ONE RESIDENCES Apartment 99 years Jul 19 2,250 7,366,590 3,275 2017 New SalePEOPLE’S PARK COMPLEX Apartment 99 years Jul 16 409 510,000 1,247 1972 ResaleDistrict 2 ICON Apartment 99 years Jul 23 904 1,630,000 1,803 2007 ResaleSKY EVERTON Apartment Freehold Jul 16 1,109 2,626,000 2,369 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 16 657 1,894,000 2,885 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 16 678 1,708,000 2,519 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 16 678 1,714,000 2,528 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 16 678 1,702,000 2,510 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 16 678 1,683,000 2,482 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 17 657 1,876,000 2,857 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 17 678 1,677,000 2,473 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 18 657 1,882,000 2,866 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 19 958 2,478,960 2,588 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 19 958 2,368,000 2,472 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 19 840 1,800,000 2,144 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 19 840 1,800,000 2,144 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 20 958 2,483,000 2,592 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 20 958 2,490,000 2,599 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 21 958 2,475,000 2,584 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 21 958 2,483,000 2,592 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 21 958 2,475,000 2,584 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 21 958 2,399,000 2,504 Uncompleted New SaleSKY EVERTON Apartment Freehold Jul 21 915 2,336,000 2,553 Uncompleted New SaleDistrict 3 ARTRA Apartment 99 years Jul 17 1,119 2,105,400 1,881 Uncompleted New SaleARTRA Apartment 99 years Jul 20 786 1,665,200 2,119 Uncompleted New SaleMARGARET VILLE Apartment 99 years Jul 18 829 1,489,796 1,797 Uncompleted New SaleMARGARET VILLE Apartment 99 years Jul 21 969 1,809,472 1,868 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 570 1,318,000 2,310 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 570 1,345,000 2,358 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 893 2,243,000 2,511 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 700 1,818,000 2,598 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 1,098 3,059,000 2,786 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 560 1,346,000 2,405 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 560 1,377,000 2,460 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 840 2,159,000 2,571 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 431 1,076,000 2,499 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 700 1,565,000 2,237 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 19 743 1,780,000 2,397 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,275,000 2,235 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,261,000 2,210 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,389,000 2,435 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,313,000 2,302 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,303,000 2,284 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,265,000 2,217 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,426,000 2,500 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,308,000 2,293 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,364,000 2,391 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,323,000 2,319 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,232,000 2,336 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,167,000 2,213 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,072,000 2,490 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,051,000 2,441 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,087,000 2,525 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,016,000 2,360 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,091,000 2,534 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,010,000 2,346 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,184,000 2,750 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,087,000 2,525 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,739,000 2,485 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,568,000 2,241 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,577,000 2,254 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,594,000 2,278 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,581,000 2,260 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,728,000 2,470 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,503,000 2,148 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,589,000 2,271 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,573,000 2,248 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,664,000 2,378 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 743 1,763,000 2,374 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 743 1,867,000 2,514 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 743 1,803,000 2,428 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 743 1,747,000 2,352 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 743 2,057,000 2,770 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,386,000 2,429 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,423,000 2,494 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,361,000 2,386 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,089,000 2,065 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,149,000 2,178 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,155,000 2,190 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,177,000 2,232 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,144,000 2,169 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,182,000 2,241 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,192,000 2,260 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,187,000 2,251 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,171,000 2,220 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,104,000 2,093 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,109,000 2,103 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,438,000 2,521 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,376,000 2,412 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 993,000 2,306 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 987,000 2,292 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 972,000 2,258 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,557,000 2,225 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,646,000 2,353 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,704,000 2,435 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,630,000 2,330 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,566,000 2,238 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,654,000 2,364 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,621,000 2,317 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,637,000 2,340 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,582,000 2,261 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,598,000 2,284 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,613,000 2,305 Uncompleted New Sale

ONE PEARL BANK Apartment 99 years Jul 20 700 1,590,000 2,273 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,574,000 2,250 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,614,000 2,307 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,720,000 2,458 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,646,000 2,353 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,728,000 2,470 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,654,000 2,364 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,607,000 2,297 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,598,000 2,284 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,630,000 2,330 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,661,000 2,374 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 700 1,822,000 2,604 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 1,152 3,311,000 2,875 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,336,000 2,387 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,362,000 2,433 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,321,000 2,360 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,381,000 2,467 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,387,000 2,478 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,331,000 2,378 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,496,000 2,673 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,433,000 2,560 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,367,000 2,442 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,341,000 2,396 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,461,000 2,610 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,466,000 2,619 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,327,000 2,371 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 560 1,491,000 2,664 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 840 1,873,000 2,231 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 840 1,817,000 2,164 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 840 1,888,000 2,249 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,318,000 2,310 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,298,000 2,275 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,308,000 2,293 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,328,000 2,328 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,366,000 2,394 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,355,000 2,375 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,323,000 2,319 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,351,000 2,368 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,434,000 2,514 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,341,000 2,351 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,454,000 2,549 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,370,000 2,401 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,303,000 2,284 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,381,000 2,421 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,428,000 2,503 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 570 1,313,000 2,302 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,180,000 2,237 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,202,000 2,279 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,169,000 2,216 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,165,000 2,209 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,207,000 2,288 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,313,000 2,489 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,175,000 2,228 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,217,000 2,307 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,303,000 2,470 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,222,000 2,317 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,227,000 2,326 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,184,000 2,245 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,159,000 2,197 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,318,000 2,499 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,328,000 2,518 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,212,000 2,298 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,242,000 2,355 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,298,000 2,461 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,196,000 2,268 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,232,000 2,336 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 527 1,237,000 2,345 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,076,000 2,499 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 988,000 2,295 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,065,000 2,474 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 983,000 2,283 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 20 431 1,025,000 2,381 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 527 1,308,000 2,480 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 527 1,333,000 2,527 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 1,152 2,704,000 2,348 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,713,000 2,448 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,833,000 2,620 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,637,000 2,340 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 560 1,427,000 2,549 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 560 1,437,000 2,567 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 560 1,371,000 2,449 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 570 1,286,000 2,254 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 570 1,271,000 2,228 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,556,000 2,224 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,485,000 2,122 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,527,000 2,182 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,585,000 2,265 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 700 1,508,000 2,155 Uncompleted New SaleONE PEARL BANK Apartment 99 years Jul 21 743 1,899,000 2,557 Uncompleted New SaleRIVIERE Apartment 99 years Jul 19 2,002 6,499,970 3,247 Uncompleted New SaleRIVIERE Apartment 99 years Jul 20 560 1,595,650 2,851 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 16 624 1,147,000 1,837 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 16 786 1,402,000 1,784 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 17 657 1,164,000 1,773 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 17 883 1,639,000 1,857 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 18 624 1,183,000 1,895 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 18 980 1,765,000 1,802 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 19 624 1,155,000 1,850 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 19 657 1,148,000 1,748 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 20 657 1,152,000 1,754 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years Jul 20 883 1,623,000 1,839 Uncompleted New SaleTANGLIN VIEW Condominium 99 years Jul 22 1,141 1,450,000 1,271 2001 ResaleDistrict 4 REFLECTIONS AT KEPPEL BAY Condominium 99 years Jul 17 1,227 2,056,000 1,676 2011 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years Jul 18 1,227 1,938,400 1,580 2011 ResaleDistrict 5 BAYVILLE CONDOMINIUM Condominium Freehold Jul 16 1,636 1,600,000 978 1996 ResaleBAYVILLE CONDOMINIUM Condominium Freehold Jul 19 2,077 2,080,000 1,001 1996 ResaleBIJOU Apartment Freehold Jul 17 753 1,586,376 2,083 2018 New SaleBIJOU Apartment Freehold Jul 17 614 1,160,000 1,873 2018 New SaleBIJOU Apartment Freehold Jul 18 624 1,220,603 1,941 2018 New SaleBLUE HORIZON Condominium 99 years Jul 19 1,163 1,230,000 1,058 2005 ResaleCARABELLE Condominium 956 years Jul 23 1,259 1,750,000 1,390 2009 ResaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 18 614 1,009,000 1,645 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 19 474 785,070 1,658 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 20 646 1,153,000 1,785 Uncompleted New SaleKENT RIDGE HILL RESIDENCES Apartment 99 years Jul 21 904 1,472,000 1,628 Uncompleted New SaleMONTEREY PARK CONDOMINIUM Condominium 999 years Jul 17 1,249 1,520,000 1,217 2005 ResaleTHE PARC CONDOMINIUM Condominium Freehold Jul 16 1,421 1,880,000 1,323 2010 ResaleWHISTLER GRAND Apartment 99 years Jul 17 603 886,140 1,470 Uncompleted New SaleWHISTLER GRAND Apartment 99 years Jul 20 764 1,116,180 1,461 Uncompleted New SaleWHISTLER GRAND Apartment 99 years Jul 20 958 1,307,340 1,365 Uncompleted New SaleWHISTLER GRAND Apartment 99 years Jul 21 1,270 1,589,220 1,251 Uncompleted New SaleDistrict 7 SOUTH BEACH RESIDENCES Apartment 99 years Jul 18 1,281 4,000,000 3,123 2016 ResaleTHE PLAZA Apartment 99 years Jul 18 678 770,000 1,135 1979 ResaleDistrict 8 CITY SQUARE RESIDENCES Condominium Freehold Jul 22 570 850,000 1,490 2008 ResaleSTUDIOS @ MARNE Apartment Freehold Jul 18 517 770,000 1,490 2010 ResaleDistrict 9 8 SAINT THOMAS Condominium Freehold Jul 17 807 2,460,000 3,047 2018 ResaleASPEN HEIGHTS Condominium 999 years Jul 22 1,324 2,460,000 1,858 1998 ResaleCAIRNHILL PLAZA Apartment Freehold Jul 18 2,293 3,720,000 1,623 1978 ResaleCASA CAIRNHILL Apartment Freehold Jul 22 2,669 3,900,000 1,461 1991 ResaleESPADA Apartment Freehold Jul 18 344 930,000 2,700 2013 ResaleHAUS ON HANDY Condominium 99 years Jul 16 517 1,488,800 2,882 Uncompleted New SaleHAUS ON HANDY Condominium 99 years Jul 16 420 1,192,800 2,841 Uncompleted New SaleHAUS ON HANDY Condominium 99 years Jul 20 463 1,344,000 2,904 Uncompleted New SaleLUMA Apartment Freehold Jul 19 743 1,310,000 1,764 2011 ResaleMARTIN MODERN Condominium 99 years Jul 20 764 2,143,200 2,804 Uncompleted New SaleKIM YAM ROAD Terrace 99 years Jul 18 1,076 2,625,000 2,431 Unknown ResaleRV ALTITUDE Apartment Freehold Jul 20 624 1,799,000 2,882 Uncompleted New Sale

EDGEPROP | AUGUST 5, 2019 • EP11

DONE DEALS

Residential transactions with contracts dated July 16 to 23

PROJECT NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/

FLOOR AREA(SQ FT)TRANSACTED

PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALEPROJECT NAME PROPERTY TYPE TENURE SALE DATE (2019)LAND AREA/

FLOOR AREA(SQ FT)TRANSACTED

PRICE ($)UNIT PRICE

($ PSF)COMPLETION

DATETYPE OF

SALE

Source: URA Realis. Updated July 30, 2019.EC stands for executive condominium

DISCLAIMER:The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein.

RV ALTITUDE Apartment Freehold Jul 20 570 1,621,000 2,841 Uncompleted New SaleDistrict 10 3 CUSCADEN Apartment Freehold Jul 20 764 2,630,130 3,441 Uncompleted New Sale3 ORCHARD BY-THE-PARK Condominium Freehold Jul 18 1,152 4,071,000 3,535 2017 Resale3 ORCHARD BY-THE-PARK Condominium Freehold Jul 19 1,066 3,731,000 3,501 2017 ResaleBOTANIC GARDENS VIEW Apartment Freehold Jul 16 1,410 3,288,000 2,332 Unknown ResaleBOULEVARD 88 Apartment Freehold Jul 19 1,313 5,013,900 3,818 Uncompleted New SaleD’LEEDON Condominium 99 years Jul 19 1,206 1,950,000 1,617 2014 ResaleD’LEEDON Condominium 99 years Jul 22 1,701 2,860,000 1,682 2014 ResaleFOURTH AVENUE RESIDENCES Apartment 99 years Jul 19 1,475 3,594,000 2,437 Uncompleted New SaleGARDEN APARTMENTS Apartment Freehold Jul 16 3,606 6,750,000 1,872 1984 ResaleJUNIPER HILL Apartment Freehold Jul 20 915 2,413,000 2,637 Uncompleted New SaleBELMONT ROAD Detached Freehold Jul 18 24,563 29,700,000 1,209 1991 ResaleNOUVEL 18 Condominium Freehold Jul 22 3,337 11,520,000 3,452 2014 ResalePARKSUITES Apartment 110 years Jul 21 700 1,309,760 1,872 Uncompleted New SaleSPRING GROVE Condominium 99 years Jul 19 1,389 2,269,000 1,634 1996 ResaleTHE NASSIM Condominium Freehold Jul 23 5,425 14,797,000 2,728 2015 ResaleTHE TRIZON Condominium Freehold Jul 22 1,550 2,700,000 1,742 2012 ResaleVALLEY PARK Condominium 999 years Jul 22 1,216 2,170,000 1,784 1997 ResaleDistrict 11 GLOUCESTER MANSIONS Apartment Freehold Jul 19 657 1,100,000 1,675 1999 ResaleMOULMEIN ROAD Apartment 999 years Jul 18 1,453 1,760,000 1,211 Unknown ResaleLINDEN DRIVE Detached Freehold Jul 19 10,452 13,000,000 1,243 Unknown ResaleNEWTON ONE Condominium Freehold Jul 16 1,216 2,500,000 2,055 2009 ResaleSOLEIL @ SINARAN Condominium 99 years Jul 22 1,098 2,080,000 1,894 2011 ResaleDistrict 12 ECOVILLE Apartment Freehold Jul 19 2,960 2,650,000 895 2008 ResaleGALLERY FIFTEEN Apartment Freehold Jul 18 1,442 1,500,000 1,040 2003 ResaleJUI RESIDENCES Apartment Freehold Jul 21 657 1,223,000 1,863 Uncompleted New SalePRESTIGE HEIGHTS Apartment Freehold Jul 19 861 1,200,000 1,394 2011 ResaleST MICHAEL’S CONDOMINIUM Apartment Freehold Jul 16 1,367 1,350,000 988 2002 ResaleTHE INTERWEAVE Apartment Freehold Jul 23 431 640,000 1,486 2014 ResaleTREVISTA Condominium 99 years Jul 19 463 660,000 1,426 2011 ResaleDistrict 13 BARTLEY RIDGE Condominium 99 years Jul 22 463 750,000 1,620 2016 ResaleMACPHERSON GARDEN ESTATE Terrace Freehold Jul 19 990 1,680,000 1,698 Unknown ResaleCOTSWOLD CLOSE Detached Freehold Jul 18 4,435 5,999,000 1,354 1997 ResaleMACPHERSON ROAD Terrace Freehold Jul 19 1,496 2,020,000 1,346 1963 ResalePARK COLONIAL Condominium 99 years Jul 16 678 1,355,000 1,998 Uncompleted New SalePARK COLONIAL Condominium 99 years Jul 18 980 1,823,000 1,861 Uncompleted New SaleTHE TRE VER Condominium 99 years Jul 18 1,098 1,774,000 1,616 Uncompleted New SaleTHE WOODLEIGH RESIDENCES Apartment 99 years Jul 19 689 1,289,000 1,871 Uncompleted New SaleTHE WOODLEIGH RESIDENCES Apartment 99 years Jul 20 667 1,180,000 1,768 Uncompleted New SaleDistrict 14 ARENA RESIDENCES Apartment Freehold Jul 17 603 1,094,000 1,815 Uncompleted New SalePARC ESTA Apartment 99 years Jul 16 1,033 1,711,000 1,656 Uncompleted New SalePARC ESTA Apartment 99 years Jul 16 420 739,000 1,760 Uncompleted New SalePARC ESTA Apartment 99 years Jul 18 926 1,540,000 1,664 Uncompleted New SalePARC ESTA Apartment 99 years Jul 21 743 1,253,000 1,687 Uncompleted New SalePARC ESTA Apartment 99 years Jul 21 915 1,558,000 1,703 Uncompleted New SalePARC ESTA Apartment 99 years Jul 21 840 1,341,000 1,597 Uncompleted New SalePARC ESTA Apartment 99 years Jul 21 452 801,000 1,772 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years Jul 17 1,076 1,877,000 1,744 Uncompleted New SaleREZI 24 Apartment Freehold Jul 20 549 824,600 1,502 Uncompleted New SaleSIMSVILLE Condominium 99 years Jul 19 1,249 1,230,000 985 1998 ResaleVACANZA @ EAST Condominium Freehold Jul 16 1,023 1,300,000 1,271 2014 ResaleDistrict 15 AMBER 45 Apartment Freehold Jul 16 872 1,840,000 2,110 Uncompleted New SaleAMBER PARK Condominium Freehold Jul 16 463 1,189,080 2,569 Uncompleted New SaleCAMELOT BY-THE-WATER Condominium 99 years Jul 17 2,637 4,000,000 1,517 2000 ResaleCOASTLINE RESIDENCES Apartment Freehold Jul 16 2,885 8,200,000 2,843 Uncompleted New SaleGRAND RESIDENCE Apartment Freehold Jul 19 1,023 1,110,000 1,085 2006 ResaleHAIG 162 Apartment Freehold Jul 19 355 590,000 1,661 2013 ResaleONAN ROAD Terrace Freehold Jul 16 1,507 2,658,000 1,766 1981 ResaleLORONG 110 CHANGI Terrace Freehold Jul 23 2,368 2,700,000 1,139 Unknown ResaleNYON Apartment Freehold Jul 18 818 1,898,000 2,320 Uncompleted New SaleONE AMBER Condominium Freehold Jul 17 1,658 2,650,000 1,599 2010 ResaleRIVEREDGE Condominium 99 years Jul 22 1,335 1,850,000 1,386 2008 ResaleSPRING @ KATONG Apartment Freehold Jul 16 1,636 1,780,000 1,088 2006 ResaleTHE ATRIA AT MEYER Condominium Freehold Jul 22 1,345 2,150,000 1,598 1996 ResaleTHE MAKENA Condominium Freehold Jul 18 1,507 2,370,000 1,573 1998 ResaleVERSILIA ON HAIG Condominium Freehold Jul 19 1,130 1,700,000 1,504 2010 ResaleVILLA MARINA Condominium 99 years Jul 22 1,249 1,280,000 1,025 1999 ResaleWATER PLACE Condominium 99 years Jul 18 1,281 1,700,000 1,327 2004 ResaleDistrict 16 BEDOK COURT Condominium 99 years Jul 18 2,411 2,050,000 850 1985 ResaleBEDOK RESIDENCES Apartment 99 years Jul 18 1,216 1,630,000 1,340 2015 ResaleCOSTA DEL SOL Condominium 99 years Jul 18 1,238 1,600,000 1,293 2003 ResaleD’MANOR Terrace 99 years Jul 18 2,723 1,738,000 638 2000 ResaleEAST COAST HILL Terrace Freehold Jul 17 1,938 3,250,000 1,679 1983 ResaleEAST MEADOWS Condominium 99 years Jul 18 1,238 1,160,000 937 2002 ResaleGRANDEUR PARK RESIDENCES Condominium 99 years Jul 20 1,453 2,214,000 1,524 Uncompleted New SaleIDYLLIC EAST Apartment Freehold Jul 19 947 1,200,000 1,267 2010 ResaleKEW VALE Semi-Detached 99 years Jul 23 2,400 2,180,000 908 1996 ResaleTHE BAYCOURT Condominium Freehold Jul 16 1,345 1,600,000 1,189 1994 ResaleTHE TANAMERA Condominium 99 years Jul 16 1,518 1,360,000 896 1994 ResaleDistrict 17 RIZ HAVEN Apartment 946 years Jul 22 2,110 1,925,000 912 2010 ResaleTHE INFLORA Condominium 99 years Jul 16 463 508,000 1,098 2016 ResaleTHE JOVELL Condominium 99 years Jul 16 527 709,000 1,344 Uncompleted New SaleDistrict 18 DOUBLE BAY RESIDENCES Condominium 99 years Jul 16 1,550 1,800,000 1,161 2012 ResaleSEASTRAND Condominium 99 years Jul 16 883 840,000 952 2014 ResaleSIMEI GREEN CONDOMINIUM EC 99 years Jul 18 1,195 988,000 827 1999 ResaleTHE EDEN AT TAMPINES EC 99 years Jul 22 1,012 818,000 808 2003 ResaleTHE TAPESTRY Condominium 99 years Jul 18 1,485 1,730,970 1,165 Uncompleted New SaleTHE TAPESTRY Condominium 99 years Jul 18 926 1,267,650 1,369 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 16 818 1,046,000 1,279 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 16 915 1,117,000 1,221 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 16 581 770,000 1,325 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 17 1,033 1,367,000 1,323 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 17 463 653,000 1,411 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 18 592 799,000 1,350 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 19 614 862,000 1,405 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 19 463 679,000 1,467 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 19 581 820,000 1,411 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 20 678 915,000 1,349 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 20 1,033 1,417,000 1,371 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 20 463 645,000 1,394 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 20 463 649,000 1,402 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 20 614 896,000 1,460 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 21 818 1,052,000 1,286 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 21 1,722 2,033,000 1,180 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 21 463 649,000 1,402 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 21 581 776,000 1,335 Uncompleted New SaleTREASURE AT TAMPINES Condominium 99 years Jul 21 614 845,000 1,377 Uncompleted New SaleDistrict 19 A TREASURE TROVE Condominium 99 years Jul 22 775 917,500 1,184 2015 ResaleAFFINITY AT SERANGOON Apartment 99 years Jul 18 753 1,096,000 1,455 Uncompleted New SaleAFFINITY AT SERANGOON Apartment 99 years Jul 20 753 1,153,000 1,530 Uncompleted New SaleAUSTVILLE RESIDENCES EC 99 years Jul 19 1,227 1,080,000 880 2014 ResaleBOTANIQUE AT BARTLEY Condominium 99 years Jul 18 495 790,000 1,595 2019 Sub SaleCHUAN PARK Condominium 99 years Jul 17 1,851 1,595,000 862 1984 ResaleESPARINA RESIDENCES EC 99 years Jul 23 1,464 1,639,888 1,120 2013 ResaleLORONG GAMBIR Semi-Detached Freehold Jul 17 3,057 3,000,000 980 2000 ResalePARC CENTROS Condominium 99 years Jul 22 1,141 1,385,000 1,214 2016 ResaleRIO VISTA Condominium 99 years Jul 17 1,249 1,010,000 809 2004 ResaleRIVERFRONT RESIDENCES Apartment 99 years Jul 16 463 657,580 1,421 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 16 1,410 1,770,000 1,255 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 16 517 712,000 1,378 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 18 1,109 1,356,000 1,223 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 19 915 1,286,000 1,406 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 19 463 646,000 1,396 Uncompleted New SaleRIVERFRONT RESIDENCES Apartment 99 years Jul 21 1,109 1,437,000 1,296 Uncompleted New SaleRIVERSOUND RESIDENCE Condominium 99 years Jul 19 1,066 1,022,000 959 2015 ResaleSERANGOON GARDEN ESTATE Terrace 999 years Jul 19 2,637 2,680,000 1,015 Unknown ResaleSERANGOON GARDEN ESTATE Terrace 999 years Jul 23 2,702 2,780,000 1,029 Unknown ResaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 16 926 1,279,000 1,382 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 16 1,001 1,398,000 1,397 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 16 1,012 1,413,000 1,396 Uncompleted New Sale

THE FLORENCE RESIDENCES Apartment 99 years Jul 17 646 939,000 1,454 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 18 926 1,344,000 1,452 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 18 926 1,329,000 1,436 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 18 926 1,391,000 1,503 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 19 753 1,057,000 1,403 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 19 667 950,000 1,424 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 19 667 964,000 1,444 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 20 635 917,000 1,444 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 20 484 701,000 1,447 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 20 667 960,000 1,438 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 21 667 967,000 1,449 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 21 721 1,008,000 1,398 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 21 926 1,354,000 1,463 Uncompleted New SaleTHE FLORENCE RESIDENCES Apartment 99 years Jul 21 484 703,000 1,451 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Jul 18 969 1,569,500 1,620 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Jul 19 689 1,082,700 1,572 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Jul 20 517 814,800 1,577 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Jul 20 452 712,300 1,576 Uncompleted New SaleTHE GARDEN RESIDENCES Apartment 99 years Jul 21 689 1,057,400 1,535 Uncompleted New SaleTHE GAZANIA Condominium Freehold Jul 18 678 1,589,390 2,285 Uncompleted New SaleTHE MINTON Condominium 99 years Jul 17 1,496 1,620,000 1,083 2013 ResaleTHE QUARTZ Condominium 99 years Jul 22 1,518 1,408,888 928 2009 ResaleDistrict 20 BISHAN LOFT EC 99 years Jul 17 1,464 1,668,000 1,139 2003 ResaleBISHAN PARK CONDOMINIUM Condominium 99 years Jul 19 1,507 1,460,000 969 1994 ResaleCENTRO RESIDENCES Condominium 99 years Jul 18 904 1,350,000 1,493 2014 ResaleGARDENIA ROAD Detached Freehold Jul 16 4,187 5,400,000 1,290 1995 ResaleGLADIOLA DRIVE Detached Freehold Jul 17 3,767 3,668,000 975 Unknown ResaleTHOMSON RIDGE Semi-Detached Freehold Jul 19 3,197 4,850,122 1,516 1995 ResaleSEASONS VIEW Condominium 99 years Jul 17 969 990,000 1,022 2000 ResaleWELLINGTON PARK Terrace Freehold Jul 19 1,862 2,700,000 1,452 1985 ResaleDistrict 21 BEAUTY WORLD CENTRE Apartment 99 years Jul 16 1,873 1,500,000 801 Unknown ResaleDAINTREE RESIDENCE Condominium 99 years Jul 17 721 1,105,200 1,532 Uncompleted New SaleDAINTREE RESIDENCE Condominium 99 years Jul 20 1,055 1,691,100 1,603 Uncompleted New SaleHUME PARK I Condominium Freehold Jul 18 1,345 1,520,000 1,130 1995 ResaleLE WOOD Condominium 99 years Jul 17 1,141 1,090,000 955 2000 ResaleMAPLE WOODS Condominium Freehold Jul 17 915 1,480,000 1,618 1997 ResaleMAYFAIR GARDENS Condominium 99 years Jul 16 775 1,589,560 2,051 Uncompleted New SaleMAYFAIR GARDENS Condominium 99 years Jul 21 517 969,000 1,875 Uncompleted New SaleMAYFAIR MODERN Condominium 99 years Jul 20 624 1,279,000 2,049 Uncompleted New SaleENG KONG GARDEN Semi-Detached Freehold Jul 18 3,681 4,500,000 1,222 Unknown ResalePARC PALAIS Condominium Freehold Jul 17 1,604 1,910,000 1,191 1999 ResaleSUITES DE LAUREL Apartment 999 years Jul 16 560 826,000 1,476 2012 ResaleTHE BEVERLY Apartment Freehold Jul 16 1,152 1,530,000 1,328 2012 ResaleTHE HILLFORD Apartment 60 years Jul 17 506 599,000 1,184 2016 ResaleTHE NEXUS Condominium Freehold Jul 17 947 1,580,000 1,668 2006 ResaleTHE NEXUS Condominium Freehold Jul 19 1,485 2,595,000 1,747 2006 ResaleTHE RAINTREE Condominium 99 years Jul 18 1,389 1,540,000 1,109 2008 ResaleVIEW AT KISMIS Apartment 99 years Jul 20 700 1,257,000 1,797 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 689 1,181,000 1,714 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 700 1,217,000 1,739 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 592 1,052,000 1,777 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 592 1,016,000 1,716 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 517 913,000 1,767 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 893 1,548,000 1,733 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 592 998,000 1,686 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 592 994,000 1,679 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 807 1,347,000 1,669 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 517 887,000 1,717 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 603 1,019,000 1,690 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 603 997,000 1,654 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 603 1,060,000 1,759 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 883 1,488,000 1,686 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 883 1,506,000 1,706 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 517 887,000 1,717 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 689 1,150,000 1,669 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 689 1,170,000 1,698 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 700 1,200,000 1,715 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 700 1,188,000 1,698 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 883 1,535,000 1,739 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 20 700 1,200,000 1,715 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 21 689 1,160,000 1,684 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 21 1,292 2,006,000 1,553 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 21 710 1,275,000 1,795 Uncompleted New SaleVIEW AT KISMIS Apartment 99 years Jul 21 893 1,550,000 1,735 Uncompleted New SaleDistrict 22 PARC VISTA Condominium 99 years Jul 17 1,302 1,005,000 772 1997 ResalePARC VISTA Condominium 99 years Jul 22 1,259 1,050,000 834 1998 ResaleWESTWOOD PARK Terrace 99 years Jul 23 1,615 1,380,000 855 1998 ResaleDistrict 23 BURGUNDY HILL Semi-Detached 99 years Jul 17 4,510 2,600,000 577 1999 ResaleCASHEW HEIGHTS CONDOMINIUM Condominium 999 years Jul 19 1,647 1,850,000 1,123 1990 ResaleCHANTILLY RISE Condominium Freehold Jul 19 1,270 1,345,000 1,059 1998 ResaleHILLBROOKS Condominium Freehold Jul 19 829 850,000 1,026 1999 ResaleHILLVIEW REGENCY Condominium 99 years Jul 18 904 790,000 874 2005 ResaleMONT BOTANIK RESIDENCE Condominium Freehold Jul 21 700 1,088,000 1,555 Uncompleted New SalePARKVIEW APARTMENTS Apartment 99 years Jul 18 1,141 850,000 745 1998 ResalePAVILION PARK Semi-Detached Freehold Jul 18 2,153 3,058,000 1,420 2003 ResaleTHE AMSTON Apartment 999 years Jul 16 1,292 1,350,000 1,045 1998 ResaleTHE QUINTET EC 99 years Jul 17 1,292 940,000 728 2006 ResaleTHE WARREN Condominium 99 years Jul 16 1,389 1,088,888 784 2004 ResaleVILLA VERDE Terrace 99 years Jul 16 1,615 1,430,000 886 2000 ResaleWINDERMERE EC 99 years Jul 17 1,453 900,000 619 1999 ResaleYEW MEI GREEN EC 99 years Jul 19 1,335 965,000 723 2000 ResaleDistrict 25 ROSEWOOD Condominium 99 years Jul 19 1,173 860,000 733 2003 ResaleWOODGROVE CONDOMINIUM Condominium 99 years Jul 19 1,238 868,000 701 1999 ResaleDistrict 26 FOREST HILLS CONDOMINIUM Condominium 99 years Jul 16 1,227 916,888 747 2003 ResaleHEETON PARK Terrace Freehold Jul 16 1,765 2,600,000 1,471 1976 ResaleMEADOWS @ PEIRCE Condominium Freehold Jul 23 1,776 1,880,000 1,059 2012 ResaleTHE CALROSE Condominium Freehold Jul 19 1,259 1,643,000 1,305 2007 ResaleDistrict 27 NORTHWOOD Condominium Freehold Jul 18 1,313 1,160,000 883 2009 ResaleORCHID PARK CONDOMINIUM Condominium 99 years Jul 19 980 693,000 707 1994 ResaleTHE CANOPY EC 99 years Jul 16 872 768,000 881 2014 ResaleDistrict 28 BELGRAVIA GREEN Terrace Freehold Jul 20 3,132 2,759,200 881 Uncompleted New SaleH2O RESIDENCES Condominium 99 years Jul 17 797 770,000 967 2015 ResalePARC BOTANNIA Condominium 99 years Jul 16 667 932,170 1,397 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 1,453 1,887,144 1,299 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 1,453 1,820,690 1,253 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 872 1,184,820 1,359 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 667 913,360 1,369 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 1,033 1,217,000 1,178 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 16 969 1,209,590 1,249 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 1,668 1,806,140 1,083 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 861 1,080,000 1,254 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 872 1,137,000 1,304 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 872 1,154,000 1,324 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 958 1,240,000 1,294 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 17 958 1,250,330 1,305 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 969 1,258,320 1,299 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 1,453 1,843,000 1,268 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 786 955,500 1,216 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 667 933,940 1,399 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 1,281 1,627,660 1,271 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 786 986,860 1,256 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 667 927,000 1,389 Uncompleted New SalePARC BOTANNIA Condominium 99 years Jul 19 667 919,560 1,378 Uncompleted New SaleSELETAR SPRINGS CONDOMINIUM Condominium 99 years Jul 18 1,410 938,888 666 2000 Resale

EP12 • EDGEPROP | AUGUST 5, 2019

GAINS AND LOSSES

Top gains and losses from July 16 to 23

Non-profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD

(YEARS)

1 CAIRNHILL PLAZA 9 2,293 Jul 18 1,623 Oct 25, 2007 1,723 230,000 6 1 11.72 ORCHID PARK CONDOMINIUM 27 980 Jul 19 707 Jul 18, 2013 878 167,000 19 4 6.03 SELETAR SPRINGS

CONDOMINIUM28 1,410 Jul 18 666 Jul 23, 2012 773 151,112 14 2 7.0

4 HAIG 162 15 355 Jul 19 1,661 Aug 12, 2013 1,914 90,000 13 2 5.95 THE TRIZON 10 1,550 Jul 22 1,742 Mar 14, 2011 1,778 55,800 2 0.2 8.4

Source: URA, EdgeProp Note: Computed based on URA caveat data as at July 30 for private non-landed houses transacted between July 16 to 23.The profit and loss computation excludes transaction costs such as stamp duties.

Most profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD

(YEARS)

1 THE NEXUS 21 1,485 Jul 19 1,747 Feb 4, 2007 926 1,220,000 89 5 12.52 CASA CAIRNHILL 9 2,669 Jul 22 1,461 Apr 17, 1996 1,021 1,175,000 43 2 23.33 BEDOK COURT 16 2,411 Jul 18 850 Nov 5, 1996 390 1,110,000 118 3 22.74 CHUAN PARK 19 1,851 Jul 17 862 Apr 25, 2003 308 1,025,000 180 7 16.25 ECOVILLE 12 2,960 Jul 19 895 May 15, 2006 585 1,005,505 61 4 13.26 GALLERY FIFTEEN 12 1,442 Jul 18 1,040 Oct 13, 2004 383 947,500 171 7 14.87 THE NEXUS 21 947 Jul 17 1,668 Jun 13, 2005 742 877,000 125 6 14.18 THE CALROSE 26 1,259 Jul 19 1,305 Oct 4, 2005 623 858,470 109 6 13.89 VERSILIA ON HAIG 15 1,130 Jul 19 1,504 Jun 8, 2009 800 796,000 88 6 10.110 BISHAN PARK CONDOMINIUM 20 1,507 Jul 19 969 Aug 11, 2002 444 791,000 118 5 16.911 BAYVILLE CONDOMINIUM 5 2,077 Jul 19 1,001 Oct 19, 2009 626 780,000 60 5 9.812 ONE AMBER 15 1,658 Jul 17 1,599 Jul 27, 2011 1,146 750,000 39 4 8.013 PARC PALAIS 21 1,604 Jul 17 1,191 Aug 22, 1996 745 715,700 60 2 22.914 SPRING GROVE 10 1,389 Jul 19 1,634 Jun 22, 2009 1,123 709,000 45 4 10.115 THE ATRIA AT MEYER 15 1,345 Jul 22 1,598 Jun 29, 2007 1,115 650,000 43 3 12.1

| BY BONG XIN YING |

The seller of a unit at The Nexus made the top gain of $1.22 million over the week of July 16 to 23. The 1,485 sq ft unit on the third floor was bought for $1.38 million ($926 psf) in Feb-

ruary 2007, and sold for close to $2.60 mil-lion ($1,747 psf) on July 19. The seller made an 89% profit, or an annualised profit of 5% over 12½ years.

Located at Bukit Timah Road in District 21, The Nexus was developed by Orwin Develop-ment, a subsidiary of Far East Organization. Completed in 2006, the freehold development comprises 242 units in six 10-storey blocks.

The units range from 592 sq ft one-bedders, to 1,572 sq ft four-bedders. Bukit Timah Plaza, Beauty World Plaza, and Beauty World Centre are all a three-minute drive from the develop-ment. It is also near reputable schools. Swiss School Singapore is a six-minute drive away, while Methodist Girls’ School is a 10-minute drive away.

The second top gain made over the week – a 43% profit of $1.18 million – was at Casa Cairn-hill, located at Peck Hay Road in prime District 9. The 2,669 sq ft unit on the third floor was purchased for $2.73 million ($1,021 psf) in April 1996 and sold for $3.9 million ($1,461 psf) on July 22. This means that the seller made an an-nualised profit of 2% over 23 years.

Completed in 1991, the freehold Casa Cairn-hill has 72 units over 19 floors. It is a five-min-ute drive from the Orchard Road shopping belt, and a six-minute walk from Newton Food Centre. Anglo-Chinese School (Primary) is a six-minute drive from the development, while Saint Margaret’s Primary School is a nine-min-ute drive away.

At Bedok Court, the seller of an eighth floor unit made the third most profitable transac-tion of the week with a $1.11 million gain. The 2,411 sq ft, three-bedroom unit was bought for $940,000 ($390 psf) in November 1996, and sold for $2.05 million ($850 psf) on July 18. The seller made a 118% profit, or an annual-ised profit of 3% over nearly 23 years.

Located in District 16, at Bedok South Ave-nue 3, the 99-year leasehold Bedok Court was developed by Bedokville Development, a sub-sidiary of Lum Chang Holdings. Completed in 1985, it has 62 years left on its lease.

On the other hand, the biggest loss incurred over the week was from the resale of a 2,293 sq ft unit at Cairnhill Plaza, along Cairnhill Road in prime District 9. The seller sold the property for $3.72 million ($1,623 psf) on July 18, and sustained a 6% loss of $230,000. The unit was purchased in October 2007 for $3.95 million ($1,723 psf). Over a holding period of almost 12 years, this translates into an annu-alised loss of 1%.

The freehold Cairnhill Plaza comprises 204 units in two 30-storey high towers. Developed by UOL Group (formerly known as United Over-seas Land), units at the development are main-ly three- and four-bedroom units, with sizes ranging from 2,293 to 3,305 sq ft.

The 2,293 sq ft unit at Cairnhill Plaza was sold for $3.72 million on July 18, marking the biggest loss of the week

Resale unit at The Nexus reaps $1.22 mil profit PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

The top gain of the week was made by a 1,485 sq ft unit at The Nexus

E

EDGEPROP | AUGUST 5, 2019 • EP13

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| BY BONG XIN YING |

At Coastal View Residences in District 17, an 840 sq ft unit was put up for its first auction on July 31, accord-ing to the auctioneer at Edmund Tie and Co (ET&Co). It was a mortgagee sale with a guide price of $785,000 ($934 psf). However, there were no bids, and the unit

was withdrawn. It will be put up for auction again on Aug 28 with the same guide price, and is also available via private treaty.

Located along Jalan Loyang Besar off Pasir Ris Drive 3, Coast-al View Residences is a 999-year leasehold development by Sin-gapore property developer Sustained Land. Completed in 2009, it has 865 years left on its lease and comprises 40 units in two five-storey stacks. Unit sizes range from 840 sq ft for two-bed-ders to 2,142 sq ft for four-bedroom units. Joy Tan, head of auc-

tion and sales at ET&Co, notes that the development, despite being “low-density”, has a “good-sized” lap pool, jacuzzi, gym and barbecue pits.

The two-bedroom unit on the third floor up for auction will be sold with vacant possession, on an “as is where is” basis. The owner purchased it for $710,820 ($847 psf) from the developer in August 2007, according to caveats lodged with URA Realis.

From the living room of the unit, there is a partial seaview, as well as views of the surrounding housing estate. At 840 sq ft, the unit offers a functional layout with a closed-concept kitch-en, notes Tan. “In newer developments, one- and two-bedroom units usually offer an open-concept kitchen, and it is more un-common to find two-bedders at 840 sq ft,” she adds.

Coastal View Residences is a three-minute stroll from Pasir Ris Beach Park and will appeal to nature lovers, says Tan. The

development is a two-minute drive or two bus stops away from Downtown East and E!hub @ Downtown East, where ameni-ties such as supermarkets, F&B options, retail stores as well as a cinema are present. It is also four bus stops away from Pasir Ris MRT Station on the East-West Line and the future Cross- Island Line, as well as White Sands Mall.

According to Tan, Coastal View Residences is “surrounded by other higher-density, 99-year leasehold condos”, such as Sea Esta and Ripple Bay, where prices are averaging $922 psf and $920 psf respectively, according to data from URA Realis. Inter-est levels have been “healthy”, says Tan, who adds that the de-velopment may appeal to investors due to potential tenants who work at the nearby Changi Airport and Changi Business Park. It can also appeal to families with children studying at the Overseas Family School, which is just a five-minute drive away. E

Unit at Coastal View Residences going for $785,000

Coastal View Residences is a 40-unit, 999-year leasehold condominium in District 17

The development is well-equipped with a pool, jacuzzi, gym and barbecue pits

Located on the third level, the unit offers partial views of the sea and the surrounding housing estate

PICTURES: ET&CO

EP14 • EDGEPROP | AUGUST 5, 2019

PROP HUNT CLASSIFIEDS

COVER STORY

Scan QR code for more details

Properties for Sale To be featured, email shermie.tee@edgeprop.sg or call 8822-2997

$11,800,000Detached HouseD11 JALAN TEMPUA | Freehold Built-Up(sqft): 7,500 | Land(sqft): 4,850PSF: $2,433

Capitol Park (Off Kheam Hock) 2.5 storey Detached House. 5 spacious ensuites. Supreme master suites with connecting study room.Unblock with lush greenery views at doorsteps. With lift & swimming pool. 9 mins stroll to Botanic Garden MRT & amenities. Great locale & design. Lovely house for home stay.

Lloyd Lim ORANGETEE & TIE PTE LTD R014030B 65 9386 0068

$2,550,000The CrestD3 PRINCE CHARLES CRESCENT | 99 years Size(sqft): 1,249 | PSF: $2,042 Bedroom: 3

Rare 3+1 Resale Unit for Sale! TOP 2017. Mid floor. Panoramic unblock GCB Greenery View. Owner spent $80k to renovate this unit tastefully and functionally. Good size balcony for alfresco dining. Efficient layout (non-dual key, no void space) with private lift. Serious Motivated Seller. Sell Vacant.

Alfred Chee PROPNEX REALTY PTE LTD R050849J 65 9455 4388

$10,800,000Hostel D08 DUNLOP STREET | 99 yearsBuilt-Up(sqft): 5,500 | Land(sqft): 2,900PSF (Built-Up): $1,964

Selling at Valuation Price. Shophouse Hostel in Tourist Attraction Area. Refurnished and Renovated. Tastefully & beautifully furnished with 90 comfortable beds. Every bedroom with attached bathroom. 1 min walk to MRT Station & 30 mins ride to the Airport. In the vicinity of Bugis Shopping Area.

Jessica Lee TUSCANY REALTY PTE LTD R001118I 65 9100 7981

$7,500,000Astrid MeadowsD10 CORONATION ROAD WEST | Freehold Size(sqft): 3,800 | PSF: $1,974 Bedroom: 5

A golden opportunity to own this very rare large 3800sf apartment. Surrounded within the Queen Astrid Park/ Leedon Park GCB enclave, Astrid Meadows is one of the finest, crème de la crème freehold condo in Singapore. This corner unit offers a great view over the 500000sf sprawling greenery.

Lloyd Lim ORANGETEE & TIE PTE LTD R014030B 65 9386 0068

$2,800,000HDB ShophouseD10 GHIM MOH ROAD | 99 yearsSize(sqft): 1,474 | PSF: $1,900

2 Storey Shophouse. 5 + 5 years Lease to Corporate F&B Tenant, S$10,200 monthly Rental. No GST. Solid Investment. Fantastic Location in Mature Estate, Easy Access with Parking. 5 Mins Walk to Buona Vista MRT, near Commonwealth, Dover & Holland Village. Sincere Seller, Price Negotiable.

Adrian Chay KF PROPERTY NETWORK PTE LTD R057187G 65 9845 2567

$10,600,000ShophouseD12 SERANGOON ROAD | Freehold Size(sqft): 5,000 | PSF: $2,120

Two Shop Houses adjoined @ Serangoon Road. Freehold. Foreigner/PR/Company can own. Stamp duty: Only 3%, No ABSD & SSD. Land size: 2,889 sqft Present BIA: 5,000 sqft. URA Plot Ratio: 3.0; Rebuild GFA 8,667 sqft. UOB valuation GDV: $12.6m for 2 units.

Jerry Lum ERA REALTY NETWORK PTE LTD R032056D 65 8288 0098

$2,250,000The Lincoln ModernD11 LINCOLN ROAD | Freehold Size(sqft): 1,378 | PSF: $1,633 Bedroom: 3

Ultra modern loft Design. Beautifully Renovated Duplex 3 BRs. High Floor, Bright & Breezy unit! Very Well maintained and efficient Layout. Mins to Novena MRT. Nearby amenities such as Novena Square & United Square! Within 1 Km to ACS junior, ACS barker & SJI junior. Contact Lindy @94554388 now!

Lindy Lee ORANGETEE & TIE PTE LTD R049099J 65 9455 4388

FROM PAGE EP7

Cheng Wai Keung, chairman of Wing Tai Holdings, who sold the Good Class Bungalow at 33 Nassim Road recently for a whopping $230 million

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

E

recently. The asking price for the bungalow on Cluny Road with a land area of about 15,100 sq ft was $45 million or $2,980 psf.

‘CHAIN EFFECT’Recent purchases of penthouses have also hit new highs in their respective condos, with many of them purchased by Chinese nationals. These include Boulevard Vue, where the last and biggest penthouse of 11,098 sq ft was sold for $52 million ($4,686 psf). At 3 Orchard By-the-Park, the biggest penthouse fetched $31.5 million ($4,805 psf) in June. At Boulevard 88, the last of four penthouses was sold for $31 million ($5,125 psf) in early June.

“There’s certainly a chain effect, though we may only see the landed property purchases pick up much later,” says William Wong, man-aging director of RealStar Premier Group. “An increase in penthouse transactions will be a positive push as it means some penthouse sell-ers may in turn buy a prime GCB.”

Anecdotal evidence is that the unrest in

Hong Kong, now in its second month, may lead many of the rich to consider relocating their businesses and families to Singapore. “While high-net-worth individuals from Hong Kong will not be able to buy GCBs, those who are Singapore Permanent Residents and have made significant contributions to Singapore’s economy for at least two years may still get ap-proval from the authorities to purchase a bou-tique GCB with a land area of 1,400 sq m,” says Wong.

He reckons that 2H2019 will see an increase in purchases of condominiums, penthouses and even commercial properties from some high-net-worth Hong Kong investors. “The in-creased demand and volume of transactions will have a spill-over effect on the landed and GCB market. I foresee landed prices picking up starting early next year,” he adds.

‘STARS ALIGNED FOR SINGAPORE’Political uncertainty elsewhere has increased Singapore’s attractiveness as a safe haven, notes Samuel Eyo, managing director of bou-

tique realtor Lighthouse Property Consultants. The announcement of the URA Draft Master Plan 2019, extension of the Greater Southern Waterfront and the $9 billion investment com-mitment by the two integrated resorts “provide greater clarity about Singapore’s future, unlike for other countries”, he adds.

The URA Master Plan 2019 is definitely “a catalyst”, agrees Bruce Lye, managing partner of SRI. “When our realtors bring their overseas clients to the URA Centre on Maxwell Road to show them the Master Plan 2019, most of them are wowed and convinced,” he says.

Regardless of who the buyer is, the recent purchase of the Nassim Road GCB signifies the desire to own “limited-edition, top-end stuff – from cars to watches and bags”, says Lye. “Some of the ultra-high-net-worth in-dividuals feel that this is just the start of a new wave for Singapore. With what’s hap-pening in Hong Kong, Singapore’s stabili-ty is attracting those who rank among the world’s richest. It seems the stars are aligned for Singapore.”