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A corner terraced freehold property on Hoot Kiam Road in the River Valley, is up for sale through an offer of inquiry with a suggested price of $7 million or $2,433 per sq ft on the land. The two-storey property is situated on a 2877 sq ft site which is zoned for residential uses with an average percentage of 1.4 It is built up to an area of 5,111 sq ft with an expansive frontage of 15 meters.

Jeremy Lim, senior group district director at Huttons Asia, which is marketing the property and promoting the property, says that the house is in a sought-after area that is surrounded by a variety of amenities. The house is within Irwell Hill Residences the condominium project with 540 units developed by City Developments launched last April and is currently more than 90% sold% sold.

The house is just a five-minute walk from Great World City and the coming Great World MRT Station on the Thomson East Coast Line which will be open in the coming year. It is also near to River Valley Primary School.

The expression of interest process for the property will end on October 20 at 3pm.

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The time Singaporean designer Andy Goh joined Ong&Ong Architects in the year 2000 as the CEO of the emerging markets. He established a branch in Myanmar and later Thailand and also considered expanding into Cambodia as well as Laos. “Those were the early days of Myanmar,” Goh relates. “Parkroyal hotel rooms cost just $40 per night. The taxis had holes in their floor to allow water to run out after the flood. This was almost like the previous frontier.”

Goh is currently both an actual estate developer as well as an architect. In April He was appointed the CEO of Jonah Journeys, an investment holding company, which was founded by Furi Corp which is a joint venture with Cambodia-based real estate company Furi Real Estate which was established in the year 2012. “If you are looking to get at the highest level in the chain of food, then you must be an developer,” he says. “Our job as architects has slowly diminished through the decades. We are not just architects; we are much more than this.”

He says that Singapore’s urban surroundings today are more an outcome of policy decisions by the government and not the imagination of architects. “It’s definitely not architects that are driving the change,” says Goh. “That’s the reason why foreign markets give us a more favorable opportunity to grow.”

The worth of money is a different factor as per Goh. The value of money is another factor. Singapore, $5.3 million to $5.5 million can buy a corner terraced, freehold home in Lorong Biawak, off Upper Serangoon Road or at Jambol Walk, off West Coast Highway According to URA Realis in September. “You aren’t able to buy an unfreehold semi-detached home within Singapore with a price of $5 million right now,” he says. “But you could build an entire 8,000 square meters retail mall elsewhere located in Southeast Asia.”

Prefabricated mall in Sihanoukville

Goh was able to do exactly that during his first attempt as an property developer within Sihanoukville the city that is located on the coast located in southwest Cambodia. In the latter half of 2018 he came upon an undeveloped site in Sihanoukville that was used as a parking lot and the landowner was unwilling to let him sell the property because it was located situated in an ideal location. Therefore, Goh decided to sign an agreement for a 50-year lease of the site. He designed an 15,000 sq m (161,460 sq feet) prefabricated shopping mall in just 12 months.

The mall was opened in the latter part of 2019 and has 60% occupancy. The tenants include KFC, PizzaCo and Starbucks. Goh together with his group eventually ended in running the mall by themselves. “We were able to do this because tenants wanted us to find employees for their stores and to find a place for their staff,” says Goh. “We did more than a professional real estate company would be able to do.”

The mall’s first day of opening The Covid disease hit. In the latter part of 2019 the Cambodian government had also shut down illegal online casinos which were especially prevalent in Sihanoukville.

In the past decade in the past, it was a decade ago that the Cambodian coastal town also gained of the Chinese Belt and Road Initiative. Chinese investments have led to the tourism industry gaining up to 700% between 2012 and 2017. According to the official figures, Chinese nationals accounted for more than 100,000, (90% of the expatriate population of Sihanoukville in the year 2019.

Chinese foreign private and direct investment was poured into development of real estate as well as casinos and hotels properties. In 2020, as high as 90% of businesses in Sihanoukville were owned by Chinese citizens. The lockdown saw casinos and other businesses that were not essential to the city were closed. Around between% or 90% of Chinese expatriates emigrated from Sihanoukville.

Despite “the double of a whammy” that is Covid and the exodus of Chinese foreigners, Goh’s mall lasted. “The locals returned,” he says. “The government has shut down the casinos that were illegal online. The physical casinos are now open and have taken steps to clean up their acts.” Its use remains around the 60% area, however it’s due for an upgrade, as per Goh.

Luxury resort integrated at Koh Rong island

In the past two years, Goh came across a 43ha land parcel close to Sihanoukville Airport. Sihanoukville Airport and the coastline. The site was bought for US$197 million as part of the form of a joint venture 51:49 by Goh as well as an owner of the land in the local area.

“We have set aside six hotels to be developed,” the executive says. These include international hospitality companies as well as ones from Singapore as well, he says. Goh is also the creator of his own brand of hospitality, R+ that stands for “rare and respectful, as well as reciprocal” Goh states.

“What we’re trying to achieve is to respect the environment that we live in, and to help individuals to be aware of the area,” he adds. “Part in our mission as an environmental socio-economic and government [ESG] mission is to improve the quality of life for the people living that we serve, not just for employment reasons however, but to improve the value of local products.”

Ground-up initiatives include back to basics farming and the making of bottles from recycled glass, and working with a local school of cooking to develop a concept of farm-to-table using local ingredients for the restaurants he plans to open in his new R+ resorts. “It’s to find the best partners who share the same values that can be a part of our R+ community,” he adds.

Goh’s main focus is developing R+ Koh Rong, the resort property which is situated on a 30ha steep terrain that is surrounded by lush greenery on Koh Rong, an island located just from Sihanoukville. The development will feature cantilevered villas, a luxurious hotel, a hotel school with accommodation for staff along with a cultural and commercial centre, and farms in the local area which are involved in technology and co-farming ventures.

Once completed when it is completed, there will be 36 villas scattered across R+ Koh Rong. To reduce the carbon footprintof the project, each villa will be constructed elsewhere, and then transported on site in flatpacks, then put together. Each module is constructed from steel and measures 31.5 sq m in area that is bigger than a shipping container that is 40 feet long.

With the smallest size at 31.5 sq meters, the modular units are able to be combined to form three or two-room homes that range from 90 to 100 square meters. Each room of it is planned as self-contained, and has the larger rooms having an exclusive pool. In the villa, common areas and amenities include the dining and living areas and the kitchen.

There are larger containers that have natural ventilation. A few of them can transform into spacious bathrooms with bathtubs that are open to the natural world. Some are designed to be traditional bathrooms. “We are testing different ideas to provide people with the choice,” says Goh.

An excellent balance” between sustainability and luxury

Each villa will include four units that can be configured in various ways. “People are looking for a different experience each time travelling,” says Goh. “Even while they desire an authentic and distinctive experience, they need the modern conveniences and pampering.”

Buyers can opt to buy the villas with an strata title and 50-year lease, or leaseback arrangements, in which the lease is renewed after 50 years. The villas located at R+ Koh Rong, which come with a strata title as well as the option of a 50-year lease starting at US$2.6 millions ($3.7 million) for each.

Villa owners be able to offer the property within the pool rental of the hotel in order to make a profit should they want. Each villa room will be charged approximately US$400 per night.

Goh is also planning to offer Rand stored value cards to its members in exchange for an annual fee. With the stored-value card members will be able to enjoy a 30% discount on hotel rates. So, instead of paying the standard rate of US$400 per night, they’ll be able to receive a discount of between US$250 and US$300 per night. The card is also able to be used to earn points that can be used for the purchase of goods, F&B or farm tours.

The first phase of R+ Koh Rong will be the finalization of nine villas. It will be and then the second phase, which will feature the facilities at the hotel, such as restaurants, a spas and pools. Goh is aiming to launch the first phase of the resort in 2023.

There’s no direct flight connecting Singapore towards Sihanoukville. From Phnom Penh, it is only a two-hour drive on this new road, in contrast to five hours on an old road Goh claims. In recent times, good infrastructure and roads have been built in Sihanoukville Goh adds. “Sihanoukville is also extremely accessible to those who fly to the city via China as well as Hong Kong,” he says.

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A 28th-floor unit in Le Nouvel Ardmore is purchased for an impressive $22,288,888 at the end of June the unit’s cost of $5,800 per square foot established an all-new benchmark for the 43-unit luxurious condominium in Ardmore Park on the basis of psf.

The 3,843 square feet four-bedroom apartment was sold fully furnished. Its buyer was a billionaire who hails from Inner Mongolia, also owns an identical apartment located on the 23rd floor in the same building, which the buyer purchased in March of 2017, when the freehold development was launched. In accordance with a caveat that was lodged in the past, he bought the four-bedroom apartment on the lower floor for a basic unit, and had paid $15.575 million ($4,005 per square foot).

The $5,800 price per square foot for the unit on the 28th floor established the foundation for the following deal, a unit on the eighth floor that brought in $22.289 million ($5,800 per sq ft) in the beginning of July. The project was created through Wing Tai Holdings, Le Nouvel Ardmore was completed in 2014 and is more than the 74% sold so far on the basis of caveats filed.

Supply is shrinking

“Such high prices reflect the declining quantity of luxurious properties and, in particular, huge-format, four-bedroom apartments that exceed 3,000 square feet” states Bruce Lye, managing partner of SRI.

Le Nouvel Ardmore is named after the French design architect Pritzker Prize laureate Jean Nouvel. While the apartment has been completed since 2014 its style is modern, as it was built “to last for a long time” according to Robert Cheng, founder and chief designer of the Brewin Design Office.

The design of the interior of the 28th-floor unit which was the subject of record-breaking prices is particular to Cheng since it was his first venture into custom residence design right after he established Brewin Design Office in 2013.

Since since then, Brewin Design Office has been the architect behind various other luxury developments. One of these was a showcase unit in Swire Properties’ Eden at Draycott Park. The 20-unit property was sold in a block by Tsai Holdings, a subsidiary of the Tsai family from Want Want Holdings for $293 million in March 2021.

Cheng is also the architect of The sales gallery which is one of the showflats, and also for Interiors and interiors at the luxury 54-unit condominium Park Nova, owned by the Hong Kong-listed Shun Tak Holdings, a conglomerate that has investments that extend to Hong Kong and Macau and owned by the billionaire Pansy Ho.

The project was launched in May of last year, the project almost exploded into popularity. Park Nova became the most well-known example of a luxurious condo in Singapore. The most expensive price in Park Nova was $34.438 million ($5,838 per square foot) and was for the purchase of its largest penthouse measuring 5,899 sq feet that was bought within the first few hours of the launch. A majority of buyers are thought to be Chinese citizens. More than 74% in the homes have sold at an average price of $4,948 per square foot, based on caveats filed so far.

Shun Tak’s other venture includes Les Maisons Nassim which has just 14 apartments in Nassim Road. The apartments start at 6,049 sq feet and range from $34.6 million ($5,153 per sq ft). The only penthouse that was 12,077 square feet sold for $75 million ($6,210 per square foot) in the month of October in 2021. Les Maisons Nassim was launched simultaneously with Park Nova in May 2021 and approximately half the units have sold with prices that average $5,589 per sq ft.

Apartments can be customized to suit your needs.
“These transactions are an indication of the general trends of the ultra-luxury sector in Singapore that is advancing to the $5,000-$6,000 per square foot range,” Cheng writes. Cheng.

At this cost it is evident that buyers are more sophisticated and prefer their homes to be customized according to him. They’re also prepared to invest “millions” to design the interiors that fit their preferences.

Although Le Nouvel Ardmore was designed around a decade ago it’s still relevant to those who are wealthy today. Cheng was employed by Ateliers Jean Nouvel in Paris in the year 2000, when Nouvel himself was working on Le Nouvel Ardmore, his first residential development located in Singapore in the region of Asia.

Although Cheng did not participate when it came to the concept in the design of Le Nouvel Ardmore, he is aware of the thinking behind the design. “The structure was created similar to a Tetris-like block,” he says. “If you take it in a row across columns the entire structure is identical and is the grid in three dimensions; and most space is rectilinear, and located inside the grid.”

While there are 43 units in Le Nouvel Ardmore, there are 17 different types of apartments. Two units on the 28th level, however, are the same with a L-shaped shape and mirror image of one another.

The unit on the 28th floor that Cheng created was owned by one of the initial two purchasers from Le Nouvel Ardmore. They purchased the units in the early stages of the project, in the time that the project was being constructed. Cheng was able to modify the entire apartment, which included changing the position of the bathrooms. This was something he could not have been in a position to do once the construction was complete.

The house was designed to be an extra residence for a family from Hong Kong: a mother and two grown-up kids and one of them is married. Cheng thus transformed the four-bedroom house into a three-bedroom home that includes a master suite as well as 2 junior master suites. Each room is unique and is unique and has a distinct style according to the person who will be living there Cheng says. Cheng.

Influenced by images

The inspiration for the design of the 28th floor unit was derived from the view. According to Cheng the apartment offers incredible, unobstructed views to the west. “When you’re on the balcony from 4pm to 5pm, it’s possible to can enjoy the amazing light of dusk as the sun sets,” he says. “So it was the idea to introduce blue tones into the home.”

The entire house with an 3.2m high ceiling was renovated. Original white marble blocks were substituted with the pattern of a checkered pattern of squares and rectangles that is an extension in the pattern of Tetris blocks. The layout of the house has been altered, instead of having four bedrooms that have en suites the new one features 2 junior suites as well as the master bedroom. Even the rear of the unit was altered to give more space behind the house Cheng adds Cheng.

Since there are now only three rooms instead of the four bedrooms, these bedrooms have been made 1.5 times bigger than the initial. Bathrooms for children were modified: the daughter now married, is equipped with a two vanity sink, while the son who was single at the time had only 1 sink inside his bath.
What is important for Cheng was that his design has stood the years. Cheng was searching for pieces of art for the house, like the screen was designed by an French designer. The furniture made of timber was developed by Cheng and then made by artisans in Australia before being shipped to Singapore.

Cheng was flown to China to personally pick his blue quartzite stones to be used in the master bathroom after taking down the standard marble. The carpet was even redesigned to match the grey-blue hues that the flooring of the living area. Walls, windows and ceilings have been adorned with an stucco in a light blue. “Every white surface of the apartment has been coated with a stucco layer,” he says. “The entire apartment has been designed to be extremely serene and serene, with a white color scheme and a subtle hint in blue.”

Multimillion-dollar interior design

The refurbishment of the apartment located on the 28th floor taken around 18 months to finish, and was estimated to cost $2.5 million according to Cheng. Because a significant portion of the furniture was custom-made and a lot of the woodwork was completed by skilled craftsmen from Australia the design was “impossible” to duplicate the design in Singapore in the present, he says.

“We made every feature to meet the needs of the client and are only doing it in a limited way,” according to Cheng.

He is currently working on a customisation of the 6,168 sq ft duplex penthouse in Four Seasons Park for its Chinese owner. Based on caveats that were lodged in the 6,168 square foot penthouse located on the 26th floor in Four Seasons Park was sold for $19 million ($3,081 per square foot) at the end of May in 2021. It’s the second-highest deal to date in absolute value for the 202-unitfreehold condominium built through Hotel Properties and completed in 1994. For price per sq. ft it’s also the fourth-highest to the present.

Cheng has begun the complete renovation of the penthouse in Four Seasons Park, which is currently being built. The owner has brought the in Italian sculptures to embellish his home. The cost of the transformation in the penthouse was $3 million.

If a house is constructed to be used by the buyer it is essential to put money into the interior design as well, according to Cheng. “Often in Singapore homebuyers believe that when they pay more for a home or even a parcel of land, they must spend less on interior and architectural design since they offer less value for resale,” he observes.

However, these properties are known to be expensive as evident by recent prices for transactions.

Apart from the interiors of luxury houses, Cheng is also involved in the design of interiors for luxurious hospitality projects. Brewin Design Office has been developing two hotels properties situated in Niseko in Japan and Kyoto in Capella Hotel Group. Capella Hotel Group.

“We love creating interiors that are designed for the luxury market,” says Cheng.

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Two shophouses with historical ties at Devonshire Road are being offered for sale through tender at $15.6 million.

The two shops have an estimated land size of 3,069 square feet which is currently being used for residential purposes with an estimated gross plot ratio of 2.8 According to market agents Huttons Asia. The property is home to five bedrooms with a front verandah as well as the backyard area.

The freehold shophouses form part of 16 shophouses situated about 350m away from Somerset MRT Station on the North-South Line. Its Orchard Road shopping belt is only five minutes away.

“Buyers can live in a shophouse that isn’t often seen as many use them for commercial uses,” says Lawrence See as associate district director at Huttons Asia. “Subject to the approval of buyers could be able to do an addition or alteration that will allow for the construction of to the attic or add additional bedroom,” he adds.

The tender will close on October 30.

In the wake of the pandemic, workers are putting their faith in flexible working. In the last month, results from a study carried out by the Randstad Singapore, a human resources (HR) service provider Randstad Singapore highlighted that over 40% of Singapore employees will not accept an offer if they were incapable of working at home, or if their job doesn’t allow flexibility in working hours.

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The clear shift in employees’ attitudes is a sign that hybrid work will be around for the foreseeable future — which has prompted more companies to think about their office environments. “The coming three years will be a turning moment for real estate, because the changes brought on by the pandemic provide an opportunity to take a step back, consider a long-term real estate strategies and how it relates to the future priorities of business,” notes Anthony Couse CEO of Asia Pacific, at JLL.

JLL’s Future of Work Survey 2022 conducted a survey of CRE executives in corporate settings, (CRE) executives from around the world it discovered the following: 56% of Asia Pacific (Apac) respondents stated that they would offer remote working to everyone in 2025. At a briefing for media on 18 August Couse points out the many options for hybrid work arrangements, based on many factors like the size of the company, its business sector, culture of work as well as the country of operations and much more. “Everybody interprets hybrid differently,” he says.

Yet, it’s clear that companies must transform their workplaces to allow for flexible working patterns and this Couse states is now an essential tool in the fight for talent as well as a an element of diversity equity, equity and inclusion strategies. The office’s role is crucial, but while hybrid models are important but they do have some limitations. A survey in March 2022 conducted by JLL of Apac HR decision-makers showed that nearly 67% of the managers polled find it difficult to manage a multi-faceted workforce.

The most important issue is the development of careers, particularly for employees who are junior or new to their professions. “Sixty percent of HR executives think that the office is the best place to grow your career and learn. It’s impossible to learn outside of the office,” Couse explains. Another reason is related to organizational the culture, which can be difficult to develop without having employees have interaction with each other in the workplace.

Additionally, the study revealed how hybrid jobs are pushing businesses to discover new ways to facilitate collaboration through the application of technology as well by providing areas that encourage collaboration.

In this regard, Couse emphasises that the office is still an integral part of organizations. “Seventy-seven percent of CRE professionals believe that offices will continue to be an integral part of the long-term environment,” he says.

Contrary to the perception that companies are reducing office space due to the shift towards flexible working arrangements, Couse claims that the leasing data from Apac indicates a consistent requirement for office spaces. Despite a difficult macroeconomic environment, Apac recorded a net utilization of office space of four million square meters (43 million square feet) in 2021. This is similar to the 10 year running average for Apac. “It’s clear evidence that the office remains vitally important because the office is taking up more area,” he says.

As a result of this demand organizations are also looking into redesigning their workplaces to reflect the changing circumstances in a post-pandemic setting. In its poll on Apac HR leaders, JLL discovered the following: 56% of respondents are planning to revamp or remodel office spaces over the next twelve months in order to create a workplace that is envisioned as a space that facilitates meeting face-to-face, collaboration as well as encouraging creativity and ingenuity.

Green buildings are becoming more popular
Another factor that is driving the change in workplaces is the increasing demand for environmental socio-economic and management (ESG) and sustainable development. The world’s most developed nations like Japan, Canada and the US have set goals to achieve zero carbon emissions by 2050. In Singapore Singapore’s National Climate Change Secretariat announced on September 5 that they were also considering the possibility of a net zero goalpost for 2050. In the meantime, private-sector companies around all over the world are beginning to draw the net zero carbon emission strategies.

Kamya Miglani, JLL’s director for ESG Research, Asia Pacific, highlights that decarbonizing building environments is an essential aspect of achieving net zero carbon goals. In the JLL’s decarbonizing cities and Real Estate report released in May, she points out the fact that a study of 32 cities across the globe discovered that buildings are responsible for around 60% of all emissions. In Singapore with its greater proportion of modern buildings and structures, the built environment is responsible for forty% in carbon dioxide emissions.

Due to the importance for the built world to the quest to achieve net zero corporations are seeking ways to build an eco-friendly real estate portfolio which includes the use of green-certified buildings, according to Miglani. JLL’s Future of Work survey found that 7 out of 10 businesses located in Apac would be willing to fork out a cost to lease buildings with green certifications.

The demand for green certified buildings is far greater than the supply particularly in the established cities in which around eighty% of the existing buildings that will be present in 2050 was already built. In this regard, Miglani argues the fact that retrofitting buildings of the past is crucial to achieving an adequate supply for green structures. To reach net zero targets in 2050, the present rate of retrofitting buildings must be more than 3% per year, more that the present rate one% or 2%.

Another green option Miglani is convinced will be popular is green leases. These are lease agreements between tenants and landlords which contain clauses that spell the environmental goals for how the building will be managed or used with respect to sustainability. A majority of% of the CRE pros interviewed with JLL in Apac consider green leases to be “a revolution for making real estate sustainable” and 30% already having signed the new lease.

However, Miglani states that green leases need the right infrastructure and tools to gather data that allows them to accurately determine whether sustainability requirements are being fulfilled. “Again this is why retrofitting buildings enters it,” she says. In the end, Miglani argues the fact that businesses that adopt eco-friendly real estate solutions are able to secure their business. “A green office does not only help in achieving [net zero carbon goals] and meet the requirements of employees in a constantly changing multi-faceted, hybrid setting,” she says.