Sansiri aims to be global lifestyle player PROPERTY PERSONALISED

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1 PROPERTY PERSONALISED MCI (P) 136/08/2017 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of November 20, 2017 ISSUE Industry Watch Minister Lawrence Wong urges prudence from buyers and developers EP4 New-home Sales Prime condos are bestsellers in October EP4 Market Trends Mortgagee sales hit new high in 3Q2017 EP6 Gains and Losses Loss of $2.57 mil at Turquoise EP12 SANSIRI Sansiri aims to be global lifestyle player One of Thailand s biggest real estate developers rolled out its ultra-luxury condo 98 Wireless recently. CEO Apichart Chutrakul discusses the group s $108.8 million investment in six global brands in our Cover Story on Pages 8 and 9.

2 EP2 EDGEPROP NOVEMBER 20, 2017 PROPERTY BRIEFS EDITORIAL EDITOR Cecilia Chow HEAD OF RESEARCH Feily Sofi an DEPUTY EDITOR Lin Zhiqin WRITERS Angela Teo, Timothy Tay DIGITAL WRITER Fiona Ho COPY-EDITING DESK Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi Murugiah PHOTO EDITOR Samuel Isaac Chua PHOTOGRAPHER Albert Chua EDITORIAL COORDINATOR Yen Tan DESIGN DESK Tan Siew Ching, Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za abah ADVERTISING + MARKETING ADVERTISING SALES DIRECTOR, COMMERCIAL OPERATIONS Cowie Tan ASSOCIATE ACCOUNT DIRECTOR Diana Lim SENIOR ACCOUNT MANAGER Priscilla Wong ACCOUNT MANAGER James Chua CIRCULATION DIRECTOR Victor The EXECUTIVES Malliga Muthusamy, Ashikin Kader, Winnie Lim CORPORATE CHIEF EXECUTIVE OFFICER Bernard Tong PUBLISHER The Edge Property Pte Ltd 150 Cecil Street #13-00 Singapore Tel: (65) Fax: (65) PRINTER KHL Printing Co Pte Ltd 57 Loyang Drive Singapore Tel: (65) Fax: (65) PERMISSION AND REPRINTS Material in The Edge Property may not be reproduced in any form without the written permission of the publisher We welcome your comments and criticism: propertyeditor.sg@ bizedge.com Pseudonyms are allowed but please state your full name, address and contact number for us to verify. New traffic feasibility study mandated for future en-bloc sites The rise in the number of collective sales, and subsequent proposals to increase the number of dwelling units at the sites, have spurred URA and the Land Transport Authority to mandate a new traffic feasibility study. The new Pre-Application Feasibility Study (PAFS) is to be submitted to LTA for approval before an Outline Application or Development Application is submitted to URA. The study, to be conducted by an experienced traffic consultant, incorporates an assessment of the impact of traffic on immediate and critical junctions arising from the redevelopment, and identifies carlite initiatives, traffic demand management plans by the developers, and estimated adjustments to the site boundary for road widening where required. Currently, sites under the 2014 Master Plan zoned as Residential, Residential with Commercial on the First Storey, and Commercial & Residential are affected by PAFS. But the requirement may be extended to other types of developments in the future, say URA and LTA. PAFS will not be required for en-bloc redevelopment proposals that were granted before Nov 13. The agencies called for redevelopments to be more sustainable and aligned with the vision of a car-lite city. Site of Singtel s Telephone House for sale A 39,738 sq ft site on Hill Street has been put up for sale by public tender, says CBRE, the exclusive marketing agent. The site is owned by Singapore Telecommunications and currently occupied by its Telephone House complex. The site has been granted Provisional Permission for redevelopment into a hotel with a plot ratio of 3.5. It is zoned Utility under the 2014 Master Plan. Comprising two adjoining land plots, 9K and 99P of TS 10. It has a maximum allowable gross floor area of 139,084 sq ft, says CBRE. The sites are being offered for sale based on a 99- year leasehold tenure, and the differential premium for change of use and the lease top-up premium will apply. The property is flanked by Capitol Theatre and Grand Park City Hall. Queried on the price, a spokesperson for Singtel responded that the company views the public tender as a price discovery process and will evaluate its options thereafter. The tender closes on Dec 13. Land transactions highest in six years; total value may reach $16.4 bil The total value of land transactions in Singapore, at $13 billion so far this year, may surpass the peak of $14.1 billion recorded in 2011, according to data from Real Capital Analytics and research by Cushman & Wakefield. Should all public and private pipeline deals materialise by year-end, it would add $3.4 billion, bringing the total value of land transactions to about $16.4 billion. The average premium paid for the top residential sites over comparable sites is 22%; the premium amounted to 36% for commercial sites. Eighteen residential projects, with a total value of $6.34 billion, have been sold this year, the highest in 10 years. The highest residential land transaction so far this year is the Stirling Road government land sale site, which was sold for $1 billion. Amber Park and Normanton Park were sold for $906.7 million and $830.1 million respectively. As market sentiment is expected to improve in the next two to three years, developers are sourcing for sites to ride the wave of growth for the rest of the decade, says Christine Li, head of research at Cushman & Wakefield. Cushman & Wakefield expects overall private residential prices and office rents to rise by up to 5% and 9%, respectively, next year. Industrial rents up 0.5% in 3Q2017 Rents for conventional industrial space rose 0.5% q-o-q to $1.98 psf per month (psf pm) in 3Q2017, according to a Knight Frank report published on Nov More sites launched for collective sale BY ANGELA TEO On Nov 15, the freehold Riviera Point on Kim Yam Road was launched for collective sale, marking its owners fourth collective sale attempt. Riviera Point is one of four collective sale sites launched in just two days Nov 15 and 16. The other sites include the freehold Derby Court in Novena, where owners launched a second collective sale attempt on Nov 15. A day later, owners of the freehold Parkway Mansion launched the development s third collective sale attempt. The 99-year leasehold Pearl Bank Apartments was also launched for sale on Nov 16, in its fourth collective sale attempt. All four sites will see their tenders closing in December, alongside that of freehold development Jervois Green. In the meantime, Crystal Tower, How Sun Park, 11 Balmoral Road and Royalville will see their tenders closing between Nov 28 and 30. Riviera Point According to marketing agent CBRE, the asking price for Riviera Point is $75 million, or $1,522 psf per plot ratio (psf ppr). Located at the junction of Kim Yam Road and River Valley Road, Riviera Point consists of 33 units in a 12-storey apartment block. The 14,579 sq ft site is located less than 600m from the upcoming Great World MRT station on the Thomson- East Coast Line and less than 400m from the sought-after River Valley Primary School, says CBRE. Under the 2014 Master Plan, the site is zoned Residential, with a plot ratio of Riviera Point, which is going for $75 million, is located less than 600m from the upcoming Great World MRT station on the Thomson-East Coast Line 2.8 and a height control of 36 storeys. The verified existing gross floor area (GFA) is about 49,265 sq ft, which works out to a plot ratio of 3.379, according to CBRE. Riviera Point s tender closes on Dec 18. Parkway Mansion Parkway Mansion has a guide price of $138 million, according to marketing agent Colliers International. After factoring in an estimated development charge of $21 million for intensification of land use, the land cost works out to be $1,454 psf ppr. Located within the Katong-East Coast district, the 17-storey freehold Parkway Mansion comprises 32 units sized between 1,819 sq ft and 1,948 sq ft. If the collective sale is successful, each owner could receive between $4.2 million and $4.4 million in gross proceeds. The Parkway Mansion site measures 38,975 sq ft. Under the 2014 Master Plan, the site is zoned Residential and has a gross plot ratio of 2.8. This works out to a potential GFA of 109,130 sq ft. Subject to authorities approval, the site can be redeveloped into a high-rise project with 130 units measuring 800 sq ft on average, says Colliers. The tender for Parkway Mansion closes on Dec 13. Derby Court More than 80% of the owners have consented to the collective sale of Derby Court at a reserve price of $62 million, says marketing agent JLL. Based on the as-built gross plot ratio of 2.869, the land rate translates into $1,168 psf ppr, according to Tan Hong Boon, regional director of capital markets at JLL. After factoring in the 10% bonus balcony plot ratio, the effective land rate is $1,062 psf ppr. Derby Court comprises 18 apartments sized at 1,991 sq ft and two penthouses measuring 3,897 sq ft. The existing development sits on an 18,506 sq ft site. Under the 2014 Master Plan, the Derby Court site is zoned Residential and has a 15. The rise was led by a 1.8% q-o-q increase in rents to $2.83 psf pm in the Bukit Merah-Alexandra-Jalan Kilang-Pasir Panjang clusters. The largest decline was in the Clementi-Toh Tuck- Bukit Batok cluster, where rents fell 1.4% q-o-q to $1.40 psf pm. Business Park rents remained unchanged at $4.24 psf pm. Demand for strata-titled factory units fell 6.6% y-o-y to 184 caveats, says Tan Boon Leong, executive director and head of industrial at Knight Frank. Leasehold factory units accounted for 143 caveats, or 77.7%. The upcoming supply of industrial space by yearend is estimated at 10 million sq ft, bringing the total new supply in 2017 to 23.4 million sq ft. This is 7.4% higher than total new supply in Rents and prices for leasehold industrial units are expected to remain subdued in the short term, says Tan, and new space may not be fully utilised as industrialists face difficulty in meeting stringent requirements set by JTC. With industrial land leases expiring in areas such as Sungei Kadut and Teban, a higher number of sale and leasing transactions is anticipated in the coming years. Fintech hub opens at 80 Robinson Road Hong Leong Group announced on Nov 14 the establishment of a fintech hub at 80 Robinson Road, involving a partnership between the group, the Monetary Authority of Singapore and the Singapore Fintech Association. The 100,000 sq ft fintech hub will be dedicated to housing local and international fintech start-ups and companies of varying sizes and growth stages, says Hong Leong. It occupies Levels 8 and 9 of the 28-storey 80 Robinson Road and offers three categories of rental office space hot-desking, designated desks as well as designated offices. At the Singapore FinTech Festival, held from Nov 13 to 17, SFA will lead tours around the show suites. Compiled by Timothy Tay and Angela Teo E CBRE gross plot ratio of 2.8. According to JLL, the verified GFA of Derby Court is 53,094 sq ft, or a plot ratio of Subject to URA s approval, the buyer may configure the allowable GFA of 58,403 sq ft into 70 apartments sized at an average of 834 sq ft, estimates Tan. The project could be 24 to 25 storeys tall. The tender for Derby Court will close on Dec 12. Pearl Bank Apartments Pearl Bank Apartments has a reserve price of $728 million, says marketing agent Colliers International. After taking into account an estimated lease top-up premium of $195 million for the site, this works out to be $1,505 psf ppr. The developer does not have to pay development charges for the site, says Colliers International. The 37-storey Pearl Bank Apartments comprises 280 apartments and eight commercial units. It has 52 years left on its 99-year lease. If the site is sold, apartment owners could receive minimum gross prices of between $1.8 million and $4.9 million, says Colliers International. Commercial unit owners could receive between $1.2 million and $6.9 million. Pearl Bank Apartments sits on an elevated site of 82,376 sq ft. Under the 2014 Master Plan, the site has a gross plot ratio of 7.2; it has an existing gross plot ratio of Therefore, subject to authorities approval, the site can be redeveloped into a residential project with a GFA of 613,530 sq ft, comprising 730 residential units sized at an average of 800 sq ft. The closing date for the tender of Pearl Bank Apartments is Dec 19.

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4 EP4 EDGEPROP NOVEMBER 20, 2017 INDUSTRY WATCH Lawrence Wong urges prudence from buyers and developers BY LIN ZHIQIN Of late, sentiment in the property market has improved. However, there is no denying that there will be a large influx of new private homes entering the market over the next two years. A large portion will come from the redevelopment of projects that have been sold en bloc, says Lawrence Wong, minister for national development in his speech at the Real Estate Developers Association of Singapore s (Redas) 58th Anniversary Dinner on Nov 14. At the same time, we are also continuing with supply from government land sales (GLS). When the two are combined, the number of private residential units available for sale will more than double over the next one to two years. The supply will be more than sufficient to cater to Singaporeans housing needs, adds Wong. The minister also pointed out that even as additional supply is coming on stream, the vacancy rate remains stubbornly high at 8.4% today. In fact, the vacancy rate has stayed above 8% for almost two years. The last time it was at this level was more than a decade ago, in Vacant units equivalent to the whole of Bishan In terms of actual physical units, this translates into more than 30,000 vacant private housing units still Wong: There is more than enough supply to meet occupational demand looking for an occupant. To put this in perspective, this is more than the total number of dwelling units in the whole of Bishan today, says Wong. The 25 successful collective sales in 2016 and 2017 could yield about 12,800 new residential units, according to Augustine Tan, president of Redas in his speech on Nov 14. Another nine residential developments with a potential yield of about 2,900 units have started the en bloc sale process. All in, almost 27,000 units could be available for sale in 2018 and 2019, says Tan. Meanwhile, the supply from the 2017 GLS sites amounts to 11,225 units, which is 38% higher than the 8,135 units in URA statistics showed a total supply of 35,022 uncompleted private residential units as at 3Q2017, of which 16,031 were unsold. This represents a 22% y-o-y drop compared with 20,577 uncompleted unsold units in 3Q2016. In the first nine months of 2017, new private residential units sold totalled 8,702, a 54% increase y-o-y. Property analysts are projecting total sales volume for 2017 to ring in at between 10,000 to 12,000 units, compared with 15,000 units in 2013 and the all-time-high of 22,000 units in Therefore, Minister Wong assures Singaporeans that there is more than enough supply to meet occupational demand, and that they should do their homework carefully before making their home purchases. Developers to factor in ABSD, property measures Wong also reminded developers to factor in the additional buyer s stamp duty (ABSD) in their bidding decisions SAMUEL ISAAC CHUA/THE EDGE SINGAPORE for both GLS and en bloc sites. Developers will have to build and sell their units within five years from their land purchase or risk paying penalties, he warns. Owing to the higher land prices and the ABSD regime, developers profit margins may come under pressure and this could impact construction quality. While most developers are responsible and will not compromise on quality, there has been feedback, from time to time, about developers who do not meet the quality standards, says Wong. Hence, he has asked the URA and the Building and Construction Authority to step up regulatory checks. Developers with a poor track record could have additional measures imposed, such as a requirement to obtain Quality Mark certification for their projects or being barred from selling units off-plan. Redas Tan agrees. With property measures [still] in place, slow growth in Singapore s population and manpower curbs, it would be prudent to keep an eye on the continued structural challenges, he says. According to the National Population and Talent Division, Singapore s population grew just 0.1% over the past year, the lowest growth in over 10 years. Tan cites growing regional competition, low business sentiments, security threats, demographic shifts, changing employment landscape and evolving citizen aspirations as some of the challenges faced by Singapore. E NEW-HOME SALES Prime district condos are bestsellers in October BY ANGELA TEO Sophia Hills and Martin Modern emerged as the top-two-selling private residential projects in October, according to the latest figures released by URA. This marks an improved sentiment towards the Core Central Region, says Tricia Song, director and head of research (Singapore) at Colliers International. Developers moved 758 private residential units in October, a 15.4% m-o-m improvement from September s total of 657 units. The take-up rate, as measured by the salesto-launch ratio, was very robust at 313%, notes Nicholas Mak, executive director of ZACD Group. At Sophia Hills, which was the bestselling project last month, 62 units were sold at a median price of $2,029 psf. This brings total sales in the 493-unit development to 90.5% as at end-october. At GuocoLand s Martin Modern, 47 units were sold last month at a median price of $2,343 psf. The cumulative units sold were 186, or 88.6%, of the 210 units released in the 450-unit project to date. The third bestseller in October was GEM Residences, jointly developed by Malaysian developer Gamuda Land, Evia Real Estate and Maxdin. The partners sold 43 units at a median price of $1,504 psf. This brings total sales to 469 units, which translates into 81.1% out of a total of 578 units in the development. The 39.5% y-o-y drop in new-home sales in October was also a result of the number of new projects launched. According to Song, only 242 new units were launched last month compared with 1,494 units in October 2016, during which Forest Woods and The Alps Residences were launched and saw strong sales. Projects that were fully sold last month were Commonwealth Towers (845 units), Balestier (56 units), The Oxley Residences (120 units) and The Wisteria (216 units). E Forty-seven units were sold at Martin Modern in October at a median price of $2,343 psf GUOCOLAND

5 EDGEPROP NOVEMBER 20, 2017 EP5 RETAIL TRENDS The revamped 136,000 sq ft Courts Megastore at Tampines PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Courts unveils revamped megastore with a focus on experiential retail BY TIMOTHY TAY Courts unveiled its revamped Tampines megastore in time for the Nov 11 Singles Day sales. Terry O Connor, group CEO of Courts Asia, says the revamp is more than just a renovation; it is an investment to bring experiential retail to a new level in Singapore. The 136,000 sq ft Courts megastore on Tampines North Drive 2 is part of the group s planned $10 million refurbishment across several stores in Singa pore over the past year. Prior to the Courts megastore in Tampines, the group had revamped the store at Jurong Point. Even though e-commerce now represents a big chunk of retail sales as demonstrated by Alibaba s record sales of US$25.3 billion ($34.4 billion) on this year s Singles Day big box retail will continue to thrive in Singapore because people love to come and experience the destination and wide selections available, says Ben Tan, country CEO of Courts Singapore. It s important that shoppers have a great experience at the store, whether it s looking for what they want or the actual buying process. Led by Keda Albano, Courts Asia regional head of visual merchandising, the revamp gives consumers design ideas through displays: for instance, how a new TV screen will look in a model living room, with sofas or loungers paired with ottomans or coffee tables and side tables as well as lighting. This gives consumers a better idea of how a new TV will look in their living room, as well as decorating ideas. The megastore therefore comes with four times the usual number of demo stations and visual displays than before the renovation, as well as a wider variety of customisation and made-toorder options. They range from roving cooking demonstrations to a diverse selection of fabrics for sofas, chairs, The Design Studio, a personalised home-solution hub for interior design advice, is a service provided by Courts and its partner T-Werkz curtains and rugs. This is an improvement from the past, when the retail space was segregated by product type, explains Tan. In addition to the physical store, Courts has also revamped its online store, providing greater search customisation and allowing customers to preview products in their preferred colour or fabric before viewing the actual item at the store. Even though online sales have increased 100% this year, offline purchases still make up 99% of total sales, says Tan. In 1HFY2017 ended Sept 30 results, Courts Asia s revenue totalled $ million, down 3% y-o-y. Net profit for 1HFY2017 was down 49% y-o-y to $7.56 million, from $14.83 million. In 2QFY2017, Courts Asia s revenue was $176.5 million, down 1.4% from a year ago. Singapore still accounted for 71.1% of the group s revenue, and saw a 5.9% y-o-y increase. This was mainly due to higher sales of goods, according to the group. Malaysia contributed to 25.1% of Courts group revenue in 2QFY2017, a 19.7% y-o-y drop, but 15.9% (based on the ringgit) without accounting for currency depreciation over the 12-month period. While Courts Asia remains committed to Malaysia, in view of the prolonged weak consumer climate and the legislative changes in the near to medium term, Courts Asia has decided to focus its efforts on driving profitability for existing stores before expanding its footprint in the country, Courts says in its financial statement for 2QFY2017 released on Nov 9. Meanwhile Indonesia accounted for 3.8% of the group s revenue in the period, up 24.6% after conversion and Tan: Big box retail will survive in Singapore, because it is a format where people come to experience the destination and wide selections 26% in rupiah terms. Singapore s economy showed a slight uptick, with advanced estimates indicating overall economic growth of 4.6% y-o-y in 3QFY2017, versus 2.9% in the previous quarter. The Retail Sales Index also saw an improvement of 3.7% in August compared with a year ago. Courts Asia will continue to focus on driving omni-channel solutions, investing in the refurbishments of its physical stores as well as its online platform, says the company. According to Tan, Courts wants to roll out its experiential concept to other stores in Singapore. We started with click-and-collect, and now we want to synergise the offline and online platforms to ensure that our consumers enjoy the same great experience, he says. E Led by Albano, the revamp at the Tampines store gives consumers improved customisation and a wider choice of design ideas

6 EP6 EDGEPROP NOVEMBER 20, 2017 COLLIERS INTERNATIONAL MARKET TRENDS The detached house at 80 Telok Kurau Lorong G was sold under the hammer for $6.5 million in July BY TIMOTHY TAY do or apartment units. Although Singapore saw modest economic growth, the shophouse sector did better, with a 31.9% q-o-q increase in sales value from two transactions valued at $6.9 million in 3Q2017. While the number of industrial properties put up for auction increased 32.4% q-o-q to 49 units the highest in a decade only one was sold under the hammer for $440,000 last quarter compared with a 10-year moving average of three units a quarter. Knight Frank estimates another 180 properties will be put up for auction in 4Q2017. If business sentiments and employment outlook were to deteriorate, and incoming US Federal Reserve chairman, Jerome Powell, imposes US interest rate hikes, more properties could enter the auction market as mortgagee sales in 4Q2017, according to the property consultant. In the meantime, as the overall business outlook improves, interest in acquiring or selling properties is likely to pick up, says Sharon Lee, director and head of auction at Knight E Frank Singapore. Types of properties put up for auction and overall success rate 250 No of listings Overall success rate (%) Top 10 transactions in the auction market by transaction value (3Q2017) TYPE OF LISTING TYPE OF PROPERTY SIZE (SQ FT) OPENING PRICE ($ MIL) 80 Telok Kurau Lorong G (D15) 57B Devonshire Road, #23-06 (D9) 112 Kim Seng Road, #25-01(D9) 515 Serangoon Road (D8) 46 Kelulut Hill (D28) 24/24A Geylang Lorong 11 (D14) 272 Upper Thomson Road (D20) 9 Amber Gardens, #02-21 (D15) 1 River Valley Close, #09-01 (D9) 1 Lewis Road, #04-02 (D10) Mortgagee sale Owner s sale Mortgagee sale Owner s sale Mortgagee sale Mortgagee sale Mortgagee sale Mortgagee sale Mortgagee sale Mortgagee sale Residential Residential Residential Shophouse Residential Shophouse Residential Residential Residential Residential 7,502 2,853 2,390 1,733 2,598 1,583 1,700 1,335 1, Q2016 Mortgagee sales 4Q2016 1Q2017 Other non-owner s sales 2Q2017 Owner s sales TRANSACTED PRICE ($ MIL) DATE OF TRANSACTION 6.50 July July July July August July July September July July 2017 ET&CO PROPERTY ADDRESS (DISTRICT) KNIGHT FRANK RESEARCH I n 3Q2017, the total number of properties put up for auction increased 26.7% q-o-q, or 14.8% y-o-y, to 209 units. The number of mortgagee listings hit a new high 82 of 209 (39.2%) in the period, despite improving market sentiment, according to Knight Frank in a report on Nov 10. Residential properties dominated the number of auction listings: Of 18 properties sold under the hammer last quarter, 12 were mortgagee sales 10 residential properties, one industrial factory and one shophouse. Total sales value increased 33% q-o-q, or 85.7% y-o-y, to $39.3 million in 3Q2017. Mortgagee sales accounted for $25.5 million of auction sales during the period the highest value recorded since 1Q2011. The residential sector saw the biggest jump in mortgagee sales value a 183% q-o-q increase and an astounding 743.7% y-o-y spike in 3Q2017. Ten of the 15 residential properties sold under the hammer were mortgagee sales. Of the 10, three were landed and the rest, con- SOURCE: KNIGHT FRANK AUCTIONS AND KNIGHT FRANK RESEARCH Mortgagee sales hit new high in 3Q2017 3Q2017 Overall success rate A shophouse on Serangoon Road was sold for $4.5 million in July

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8 EP8 EDGEPROP NOVEMBER 20, 2017 COVER STORY Sansiri s luxury condo 98 Wireless, with interiors by Ralph Lauren Home PICTURES: SANSIRI Sansiri aims to be global lifestyle player One of Thailand s biggest developers rolled out its ultra-luxury condo 98 Wireless in overseas road shows recently. CEO Apichart Chutrakul discusses the group s $108.8 million investment in six global brands across different industries. Apichart: This is a trophy property it s a one-of-akind development with unmatched location STORIES BY CECILIA CHOW Sansiri Public Co, one of the largest real estate developers in Thailand, launched its ultra-luxury project 98 Wireless with a road show in Hong Kong on the weekend of Nov 11 and 12. It will be launched in Singapore on Nov 18 and Wireless contains just 77 apartments in a 25-storey tower with five levels of basement parking. It sits on a 0.8 acre freehold site in Bangkok s most prestigious address next to the US ambassador s residence and the US Embassy, across the road from Plaza Athenee, near Lumphini Park (Bangkok s biggest park), the Royal Bangkok Sports Club and the RBSC Polo Club. Sansiri purchased the prime site for US$36.4 million in 2010, which is still the highest land price in Bangkok s CBD. Valued at $360 million, 98 Wireless was six years in the making and completed in May last year. It boasts Beaux-Arts architecture, spacious apartments with lofty ceilings and interior furnishings designed in collaboration with Ralph Lauren Home. Kitchen appliances include topend brands Gaggenau, Sub-Zero and SieMatic. Typical condominium units at 98 Wireless range from two-bedroom units of 1,289 sq ft to four-bedroom units of 3,942 sq ft. There are two 5,955 sq ft penthouses and a 10,204 sq ft, super-penthouse dubbed The One. The penthouses were among the first to be snapped up before the official launch of 98 Wireless in Bangkok in March. Today, the project is about 70% sold. Trophy property While most of the buyers are Thai, there are also buyers from China and Hong Kong. At the weekend road show in Hong Kong, one unit was sold, but several Hong Kong buyers had already purchased units at 98 Wireless prior to that. We hope there will be some from Singapore as well, says Apichart Chutrakul, CEO of Sansiri Public Co. Naturally, 98 Wireless has set a new benchmark for ultra-luxury residences in Bangkok, with average prices at THB650,000 psm compared with THB350,000 psm at most luxury projects in the prime areas of Bangkok. Prices at 98 Wireless have even surpassed THB750,000 psm, according to Apichart. This is a trophy property it s a one-of-a-kind development with unmatched location, he says. It s rare and will appreciate in value over time. At the weekend launch in Singapore, units at 98 Wireless will be available from $3.4 million to $7.8 million, or an average of $2,202 psf. ERA Realty Network is the marketing agent for 98 Wireless at the weekend launch at St Regis Hotel in Singapore. This project will appeal to those who are well travelled and already own a portfolio of luxury properties around the world, from London to New York and Australia, says Doris Ong, co-chief operating officer of ERA Realty Network. We ve received a lot of enquiries about the project. These are the well-heeled collectors who want to add this property to their portfolio. Recognising the importance of Singapore, Hong Kong and China as a source of international clients, Sansiri has even set up offices in

9 EDGEPROP NOVEMBER 20, 2017 EP9 COVER STORY JustCo to open four co-working spaces in Bangkok and 30 in Asia-Pacific in 2018 The 77 apartments and penthouses at 98 Wireless are spacious and have lofty ceilings these markets. In 1H2017, foreign buyers accounted for US$115 million ($156.1 million) in sales. The top four foreign buyers are from Hong Kong (39%), China (32%), Singapore (18%) and Taiwan (5%). Global investments Sansiri, which Apichart founded in 1984, was merged with the Lamsam family company in 1994 and listed on the Stock Exchange of Thailand in It now has an extensive portfolio of more than 320 projects across Thailand, including Chiang Mai, Hua Hin, Khon Kaen, Khao Yai and Phuket. In 2012, it also made its first overseas foray into London s Kensington area. Sansiri ranks among the three biggest publiclisted property companies on the SET, with a market capitalisation of THB33.52 billion (US$1.02 billion) at the close on Nov 15. This year, it is expected to launch a total of 19 projects, with pre-sales forecast to hit US$1.2 billion, up 25% from US$900 million last year. About 75% of its developments are in the premium and mid-tier segments. However, Sansiri wants to be more than just one of Thailand s biggest real estate companies. On Nov 8, the group announced that it had made a series of global investments totalling about US$80 million in six international companies. On Nov 8, Thai developer Sansiri invested US$12 million ($16.3 million) in Justco, Singapore s biggest co-working operator. The Series B funding round by Sansiri gives the Thai company a 6.09% stake in JustCo, and values the company at close to US$200 million. Kong Wan Sing, founder and CEO of JustCo, recounts how the deal came about five months ago. We got connected through LinkedIn, he says. The way Kong remembers it, Sansiri had commissioned Boston Consulting Group to study the co-working sector and evaluate the operators. BCG had in turn connected with Kong via LinkedIn and requested a meeting. They talked to a lot of different co-working operators in Singapore, not just us, Kong adds. Eventually, it led to the deal. With the investment, JustCo intends to open four co-working premises in Bangkok next year. Kong has already identified two prime Grade-A office towers to open JustCo: AIA Sathorn Tower and Capital Tower. The two locations will provide JustCo with close to 80,000 sq ft of co-working space. Kong hopes to secure the remaining two premises in the coming days, which will bring the total co-working space to at least 150,000 sq ft. It s important to be able to scale up quickly, and our partnership with Sansiri allows us to do that. In addition, JustCo intends to have 30 coworking spaces across Asia-Pacific by next year. The group plans to expand into other key cities in Southeast Asia, including Jakarta, Kuala Lumpur, Ho Chi Minh City and Manila. The rollout of the co-working spaces around Asia-Pacific will also provide Sansiri with access to JustCo s 12,000 members. This means greater opportunities to collaborate and expand around the region, says Kong. In Singapore, JustCo has four co-working premises at 120 Robinson Road, 6 Raffles Quay, UIC Building and Marina One, and occupies close to 200,000 sq ft of office space. Slated to open next year is a new 57,000 sq ft JustCo at Marina Square. This will be the first JustCo to open in a mall. We hope to rejuvenate the mall and bring new energy to it, says Kong. JustCo intends to introduce pop-up stands for start-up companies to showcase their products. There will also be rooms for retail companies to lease as storage space. JustCo is expected to take over the premises in February, with the new coworking centre to open in the middle of next year. Kong sees consolidation taking place and, eventually, only two to three big players remaining. A lot of people can come up with coworking spaces, he says. But what is important is the vibe and the community, something that many lack. SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Fast-growth companies We want to establish our presence as a global lifestyle company, not just a real estate player, says Apichart. The world has moved on. People are becoming more well travelled be it physical or virtual and you can find anything on the internet. If we don t change, we will be left behind. What the companies have in common is that they are in fast-growth industries. One of the investments is in Justco, Singapore s biggest co-working space provider. In Bangkok, everybody says they have a co-working space, even someone who runs a coffee shop, says Apichart. It doesn t work that way. (See accompanying story.) Another investment that Sansiri made recently was in Farmshelf, a Brooklyn-based start-up that builds indoor hydroponic growing units, with growth and flavour optimised according to clients requirements using artificial intelligence. Sansiri s Apichart believes this is a great solution for bringing greenery indoors. He sees the possibility of introducing Farmshelf to Sansiri s future developments. These days, condos and houses are getting smaller, he says. Whether you re in Bangkok, Singapore or travelling elsewhere, Farmshelf has the expertise to control the growth of your plants and monitor its growth for you while you re away from home. The 25-storey 98 Wireless has Beaux-Arts architecture The Standard Sansiri also invested US$58 million in a 35% stake in New York-based hotel operator Standard International, which operates five hotels in West Hollywood, downtown Los Angeles, New York and Miami, and will be looking at launching its first outside the US in London. The Standard s first hotel in West Hollywood was opened in 1999 by legendary hotelier André Balazs. Initial investors in the hotel included Hollywood stars such as Leonardo DiCaprio, Cameron Diaz and Benicio del Toro. We wanted to invest in Standard International, as The Standard on Sunset Strip is one of the most iconic hotels in Hollywood, says Apichart. He believes there are opportunities to bring the hotel brand to Asia. Having a stake in Standard International also means Sansiri will also have a stake in Bunkhouse, a portfolio of boutique hotels that started in Texas and is popular among the artistic crowd, as well as a stake in the mobile booking app One Night by Standard International, which caters to those who want to book a night s stay after 3pm on the same day. Kong: It s important to be able to scale up quickly, and our partnership with Sansiri allows us to do that Tapping the sharing economy Sansiri was one of the major investors in London-based Hostmaker in its Series B funding that raised US$15 million. Founded by Nakul Sharma, Hostmaker is a hospitality management service provider for Airbnb hosts. It helps homeowners manage the short-term rentals of their properties. Hostmaker piggybacks on Airbnb, says Apichart. In the future, our clients can also rent out their house or condos on Airbnb, with Hostmaker to help them manage their properties in Bangkok or elsewhere in Thailand or London. Everyone benefits. While cities such as Paris, New York and even Singapore are trying to curb illegal shortterm rents, Airbnb website listings continue to flourish. Apichart is a proponent of the sharing economy and Airbnb. For those who say no, they will eventually be left behind in a world that s changing rapidly, he notes. Leveraging lifestyle brand Sansiri also invested US$6 million in media company Monocle, founded by its chairman, former war correspondent Tyler Brûlé. He has become a tastemaker for the global elite with the Monocle lifestyle, travel and design magazines, books, radio and films. It has expanded into Monocle shops and cafés in London, Hong Kong, Tokyo and Singapore. Sansiri s investment translates into a 12.5% stake in Monocle. Plans are underway for the launch of a Monocle-branded mixed-use development with residences in Bangkok next year. We think the partnership is good for us because we re moving into lifestyle, says Apichart. We can collaborate with Tyler on shops, cafés and condos. There are plans to introduce privileges for Sansiri s clients, tapping the new partnerships the group has formed through its investments. Based on Sansiri s forecast revenue of US$1 billion this year, about US$800 million still comes from property development, but that could change in the future. We re no longer just a Thai real estate company, says Apichart. We re a Thai-listed company that owns stakes in international companies and our investments allow us to leapfrog onto the global platform. E

10 EP10 EDGEPROP NOVEMBER 20, 2017 DONE DEALS City Suites sees seven units sold in a week SAMUEL ISAAC CHUA/THE EDGE SINGAPORE BY TIMOTHY TAY Balestier has seen a revival of interest with new projects completed in the past few years and many older developments hitching on to the en bloc sale bandwagon. A project that has seen a spike in sales is City Suites, a new freehold, 17-storey block with 56 units. The project developed by SingHaiyi contains predominantly one-bedroom units of 452 to 527 sq ft. In the week of Oct 31 to Nov 7, seven units were sold at City Suites. Prices ranged from $771,000 for a 463 sq ft unit on the third level to $867,000 for a 452 sq ft unit on the 15th level, according to caveats lodged with URA Realis. To date, about 40% of the units at City Suites have been sold. Most buyers are attracted by the relatively low prices in the Balestier area as the collective sale fever has pulled up prices in other parts of Singapore, says Gary Lim, sales director at SingHaiyi. Balestier is also one of the few areas where properties are predominantly freehold, and priced attractively, he adds. The units at City Suites appeal to investors as they can be tenanted to those working in the healthcare sector at Health City Novena. Investors can achieve rental yields of about 4% at City Suites, according to Lim. Other projects in Balestier that have also seen some sales activity in early November include Prestige Heights, where a 344 sq ft unit on the eighth floor was sold for $547,500 ($1,589 psf), according to a caveat lodged with URA Realis. At mixeduse development OKIO, a 570 sq ft apartment on the 11th floor changed hands for $843,800 ($1,479 psf). The Balestier area has become more vibrant in recent years with the influx of foreign students, owing to the opening of educational institutes such as Curtin Singapore and the East Asia Institute of Management. New retail developments such as Zhongshan Mall, anchored by a Fairprice Finest supermarket, have joined established players like Shaw Plaza. New hipster cafés and restaurants have also opened in Balestier to cater to the growing population of students and professionals in these new condominiums and apartment blocks. As Health City Novena develops and attracts a larger working population in the future, there will be greater demand for residential property, says SingHaiyi s Lim. With buying momentum expected to continue, this will have a spillover effect on property prices, he adds. E City Suites comprises predominantly one-bedroom units of 452 to 527 sq ft LOCALITIES DISTRICTS Singapore by postal district City & Southwest 1 to 8 Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 Balestier/MacPherson/Geylang 12 to 14 East Coast 15 and 16 Changi/Pasir Ris 17 and 18 Serangoon/Thomson 19 and 20 West 22 to 24 North 25 to 28 Residential transactions with contracts dated Oct 31 to Nov 7 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE District 1 MARINA ONE RESIDENCES Apartment 99 years Nov 1, ,506 3,815,000-2,532 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Nov 2, ,517 3,804,332-2,507 Uncompleted New Sale V ON SHENTON Apartment 99 years Nov 1, ,906,000-2, New Sale V ON SHENTON Apartment 99 years Nov 4, ,754 3,505,260-1, New Sale District 2 ICON Apartment 99 years Nov 1, ,158,000-1, Resale SPOTTISWOODE SUITES Apartment Freehold Nov 5, ,732,000-2, New Sale SPOTTISWOODE SUITES Apartment Freehold Nov 5, ,783,000-2, New Sale District 3 ALEX RESIDENCES Apartment 99 years Oct 31, ,838,000-2, New Sale ALEX RESIDENCES Apartment 99 years Oct 31, ,818,000-2, New Sale ALEX RESIDENCES Apartment 99 years Nov 5, ,813,000-1, New Sale ALEXIS Apartment Freehold Oct 31, ,000-1, Resale ARTRA Apartment 99 years Nov 1, ,592,300-1,921 Uncompleted New Sale EMERALD PARK Condominium 99 years Nov 6, ,087 1,360,000-1, Resale HIGHLINE RESIDENCES Condominium 99 years Oct 31, ,151 2,195,700-1,906 Uncompleted New Sale HIGHLINE RESIDENCES Condominium 99 years Nov 2, ,768,900-1,933 Uncompleted New Sale HIGHLINE RESIDENCES Condominium 99 years Nov 5, ,151 1,977,900-1,717 Uncompleted New Sale HIGHLINE RESIDENCES Condominium 99 years Nov 5, ,151 2,100,000-1,823 Uncompleted New Sale HIGHLINE RESIDENCES Condominium 99 years Nov 5, ,151 2,114,200-1,836 Uncompleted New Sale PRINCIPAL GARDEN Condominium 99 years Oct 31, ,364,000-1,785 Uncompleted New Sale PRINCIPAL GARDEN Condominium 99 years Nov 4, ,000-1,916 Uncompleted New Sale PRINCIPAL GARDEN Condominium 99 years Nov 4, ,000-1,930 Uncompleted New Sale QUEENS PEAK # Condominium 99 years Nov 4, ,627 9,287,070-1,650 Uncompleted New Sale QUEENSWAY TOWER Apartment Freehold Nov 2, ,431 1,295, Resale RIVER PLACE Condominium 99 years Nov 7, ,095,000-1, Resale RIVER PLACE Condominium 99 years Nov 7, ,582 1,950,000-1, Resale TANGLIN VIEW Condominium 99 years Nov 2, ,141 1,370,000-1, Resale TANGLIN VIEW Condominium 99 years Nov 3, ,141 1,390,000-1, Resale TANGLIN VIEW Condominium 99 years Nov 6, ,210,000-1, Resale THE CREST Condominium 99 years Nov 1, ,713,000-1, Resale THE CREST Condominium 99 years Nov 6, ,227 2,356,000-1, Resale TIONG BAHRU ESTATE Apartment Freehold Oct 31, ,001 1,375,000-1,374 Unknown Resale TWIN REGENCY Condominium Freehold Nov 2, ,670,000-1, Resale District 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years Nov 3, ,227 1,850,000-1, Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years Nov 2, ,829 3,016,090-1, Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years Nov 2, ,851 3,066,140-1, Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years Nov 3, ,313 1,865,000-1, Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years Nov 6, ,625 3,043,810-1, Resale THE MOUNT FABER Condominium 99 years Nov 2, ,388 1,600,000-1, Resale TURQUOISE Condominium 99 years Nov 6, ,410 3,700,000-1, Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE District 5 BIJOU Apartment Freehold Nov 5, ,068,888-1,874 Uncompleted New Sale CLEMENTIWOODS CONDOMINIUM Condominium 99 years Nov 3, ,196 3,200,000-1, Resale JUBILEE RESIDENCE Apartment Freehold Nov 3, ,539 1,500, Resale JULUCA Terrace Freehold Nov 6, ,024 2,188, Resale JALAN MAS PUTEH Terrace Freehold Nov 1, ,485 2,250,000-1,511 Unknown Resale PARC RIVIERA # Condominium 99 years Nov 3, ,112 8,706,000-1,224 Uncompleted New Sale SEAHILL Condominium 99 years Nov 1, ,125,905-1, Resale THE CLEMENT CANOPY # Apartment 99 years Nov 5, ,027 11,793,000-1,469 Uncompleted New Sale THE PEAK@BALMEG Condominium Freehold Nov 3, ,506 2,238,000-1, Resale THE ROCHESTER Apartment 99 years Nov 7, ,200,000-1, Resale THE TRILINQ Condominium 99 years Nov 2, ,345 1,709,000-1, New Sale THE VISION Condominium 99 years Nov 6, ,302 1,432,200-1, Resale VARSITY PARK CONDOMINIUM Condominium 99 years Nov 7, ,797 1,930,000-1, Resale VENTANA Apartment Freehold Nov 1, ,184 2,410,000-1, Resale District 8 CITIGATE RESIDENCE Apartment Freehold Nov 1, ,000-1, Resale CITY SQUARE RESIDENCES Condominium Freehold Nov 6, ,496 2,128,000-1, Resale OXFORD SUITES Apartment Freehold Nov 2, ,033 1,288,000-1, Resale STURDEE RESIDENCES Condominium 99 years Oct 31, ,302 1,970,000-1,513 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years Nov 4, ,302 1,988,880-1,527 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years Nov 4, ,564,000-1,651 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years Nov 4, ,598,000-1,687 Uncompleted New Sale District 9 8 RODYK Apartment Freehold Nov 1, ,438,000-1, Resale HILLTOPS Condominium Freehold Nov 6, ,464 8,000,000-3, Resale LUMA Apartment Freehold Nov 3, ,173 1,930,000-1, Resale LUMA Apartment Freehold Nov 3, ,300,000-1, Resale MARTIN MODERN Condominium 99 years Nov 1, ,121,930-2,404 Uncompleted New Sale MARTIN MODERN Condominium 99 years Nov 5, ,889,168-2,472 Uncompleted New Sale MARTIN MODERN Condominium 99 years Nov 5, ,204,580-2,498 Uncompleted New Sale MARTIN NO 38 Apartment Freehold Nov 3, ,076 2,450,000-2, Resale OLEANAS RESIDENCE Condominium Freehold Nov 2, ,636 2,430,000-1, Resale PARC EMILY Condominium Freehold Nov 3, ,227 2,100,000-1, Resale RIVERGATE Apartment Freehold Nov 2, ,022 2,500,000-2, Resale SOPHIA HILLS # Condominium 99 years Nov 3, ,176 10,374,000-2,004 Uncompleted New Sale SUITES AT ORCHARD Apartment 99 years Nov 2, ,001 2,980,000-1, Resale SUITES AT ORCHARD Apartment 99 years Nov 7, ,195 2,790,000-1, Resale THE COSMOPOLITAN Condominium Freehold Nov 6, ,399 2,570,000-1, Resale THE COSMOPOLITAN Condominium Freehold Nov 6, ,141 2,420,000-2, Resale THE LAURELS Condominium Freehold Nov 3, ,313 2,880,000-2, Resale District 10 ARDMORE PARK Condominium Freehold Oct 31, ,884 10,200,000-3, Resale ARDMORE PARK Condominium Freehold Oct 31, ,884 9,600,000-3, Resale ARDMORE THREE Condominium Freehold Nov 6, ,743 7,530,000-4, Resale ASTRID MEADOWS Condominium Freehold Nov 3, ,356 3,480,000-1, Resale BELMOND GREEN Condominium Freehold Nov 2, ,065 2,000,000-1, Resale CHATEAU LE FAME Apartment Freehold Nov 6, ,108 1,610,000-1, Resale D LEEDON Condominium 99 years Nov 6, ,173 1,880,000-1, Resale FIFTY-TWO STEVENS Apartment Freehold Nov 2, ,000-1, Resale GARDENVILLE Condominium Freehold Nov 1, ,775 3,450,000-1, Resale GOODWOOD GARDENS Apartment Freehold Nov 1, ,076 1,940,000-1, Resale GOODWOOD RESIDENCE Condominium Freehold Nov 1, ,550 7,500,000-2, Resale GRAMERCY PARK Condominium Freehold Nov 3, ,206 6,588,800-2, Resale HOLLAND TOWER Apartment Freehold Oct 31, ,872 2,238,000-1,195 Unknown Resale KINGSVILLE Semi-Detached 102 years Nov 6, ,604 3,450,000-1, Resale LEEDON RESIDENCE Condominium Freehold Nov 3, ,044 2,630,000-2, Resale LUTHERAN TOWERS Apartment 103 years Nov 6, ,915 1,685, Unknown Resale MON JERVOIS Condominium 99 years Nov 3, ,474 3,269,900-2, Resale MING TECK PARK Semi-Detached 999 years Nov 3, ,594 5,450,000-1,515 Unknown Resale ONE BALMORAL Condominium Freehold Nov 3, ,657 3,898,000-2, Resale ONE TREE HILL MANSIONS Apartment 99 years Nov 1, ,625 1,500, Unknown Resale PARVIS Condominium Freehold Nov 2, ,700 3,160,000-1, Resale REGENCY PARK Condominium Freehold Nov 2, ,260 4,150,000-1, Resale RV RESIDENCES Condominium 999 years Nov 3, ,511,220-2, Resale RV RESIDENCES Condominium 999 years Nov 6, ,216 2,215,000-1, Resale SPANISH VILLAGE Condominium Freehold Nov 1, ,162 1,718,000-1, Resale THE ASANA Apartment Freehold Nov 5, ,023,000-2,569 Uncompleted New Sale TOMLINSON HEIGHTS Condominium Freehold Nov 2, ,550 7,780,550-3, Resale VALLEY PARK Condominium 999 years Oct 31, ,200,000-1, Resale VIZ AT HOLLAND Condominium Freehold Nov 2, ,227 1,350,000-1, Resale WING ON LIFE GARDEN Apartment Freehold Nov 2, ,239 5,150,000-1, Resale District NEWTON Apartment Freehold Nov 3, ,582,854-2, Resale 6 DERBYSHIRE Condominium Freehold Nov 6, ,175,879-2, Resale 6 DERBYSHIRE Condominium Freehold Nov 7, ,361,644-2, Resale CUBE 8 Condominium Freehold Nov 3, ,400,000-1, Resale

11 EDGEPROP NOVEMBER 20, 2017 EP11 DONE DEALS Residential transactions with contracts dated Oct 31 to Nov 7 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE EVELYN MANSIONS Apartment Freehold Nov 2, ,400,000-1, Resale IRIDIUM Apartment Freehold Nov 3, ,690 3,380,000-1, Resale L VIV Apartment Freehold Nov 6, ,001 2,050,000-2, Resale MANDALE HEIGHTS Apartment Freehold Nov 3, ,775 2,250,000-1, Resale JALAN BAHASA Detached Freehold Oct 31, ,136 15,800,000-1, Resale N.A. Apartment Freehold Nov 7, ,237 2,500,000-2, Resale ROCHELLE AT NEWTON Condominium 99 years Nov 3, ,506 2,080,000-1, Resale SHELFORD SUITES Condominium Freehold Oct 31, ,227 1,870,000-1, Resale THE SPRINGS Apartment Freehold Nov 2, ,011 1,510,000-1, Resale District 12 BEACON HEIGHTS Condominium 999 years Nov 1, ,888-1, Resale CITY SUITES # Apartment Freehold Nov 5, ,196 5,766,900-1, New Sale GEM RESIDENCES Condominium 99 years Nov 2, ,011 1,562,000-1,544 Uncompleted New Sale GEM RESIDENCES Condominium 99 years Nov 5, ,465,000-1,496 Uncompleted New Sale GEM RESIDENCES Condominium 99 years Nov 5, ,541,430-1,646 Uncompleted New Sale GEM RESIDENCES Condominium 99 years Nov 5, ,011 1,543,410-1,525 Uncompleted New Sale NOVA 88 Apartment Freehold Nov 2, ,170,000-1, Resale OKIO Apartment Freehold Nov 6, ,800-1, Resale OLEANDER TOWERS Apartment 99 years Nov 2, ,141 1,270,000-1, Resale PRESTIGE HEIGHTS Apartment Freehold Nov 2, ,500-1, Resale THE IRRAWADDY Apartment Freehold Nov 7, ,110,000-1, Resale TREVISTA Condominium 99 years Nov 1, ,119 1,520,000-1, Resale District 13 BARTLEY RIDGE Condominium 99 years Nov 3, ,150,000-1, Sub Sale MACPHERSON GARDEN ESTATE Terrace Freehold Nov 2, ,560,000-1,765 Unknown Resale JALAN ANGGEREK Terrace Freehold Oct 31, ,669 3,780,000-1, Resale SOMMERVILLE LOFT Apartment Freehold Nov 6, ,098 1,175,000-1, Resale SUITES@BRADDELL Apartment Freehold Nov 2, ,000-1, Resale District 14 JALAN SENANG Detached Freehold Nov 2, ,003 4,760, Resale LORONG 33 GEYLANG Detached Freehold Nov 7, ,744 3,200, Unknown Resale REZI 26 Apartment Freehold Nov 3, ,888-1, Resale REZI 35 Apartment Freehold Nov 5, ,690-1,515 Uncompleted New Sale REZI 35 Apartment Freehold Nov 5, ,187,000-1,329 Uncompleted New Sale REZI 35 Apartment Freehold Nov 5, ,200-1,600 Uncompleted New Sale SIMS DORADO Apartment Freehold Nov 3, ,050,000-1, Resale SIMS URBAN OASIS # Condominium 99 years Nov 5, ,896 8,778,400-1, New Sale SKT MANSIONS Apartment Freehold Nov 6, , , Resale TRE RESIDENCES Condominium 99 years Oct 31, ,300,000-1,372 Uncompleted New Sale EAST Condominium Freehold Nov 6, ,937 1,950,000-1, Resale District 15 AMBER SKYE Apartment Freehold Oct 31, ,314,350-2, New Sale CARPMAEL THIRTY-EIGHT Apartment Freehold Nov 4, ,076 1,798,019-1,670 Uncompleted New Sale COSTA RHU Condominium 99 years Nov 6, ,399 1,485,000-1, Resale FAME COURT Terrace Freehold Nov 3, ,765 3,150,000-1, Resale MANDARIN GARDENS Condominium 99 years Nov 1, ,571 1,398, Resale MANDARIN GARDENS Condominium 99 years Nov 3, , , Resale MARINE BLUE Condominium Freehold Nov 2, ,375,830-1, Resale MARINE BLUE Condominium Freehold Nov 3, ,024 4,179,800-1, Resale MAYFAIR RESIDENCES Apartment Freehold Nov 3, ,227 1,820,000-1, New Sale MODA Apartment Freehold Nov 3, ,400,000-1, Resale CEYLON ROAD Semi-Detached Freehold Oct 31, ,336 5,000,000-1, Resale JOO CHIAT PLACE Terrace Freehold Nov 1, ,259 1,550,000-1,230 Unknown Resale EAST COAST TERRACE Terrace Freehold Nov 3, ,227 3,700,000-1, Resale SANDY LANE Semi-Detached Freehold Nov 7, ,874 4,520,000-1,165 Unknown Resale NEPTUNE COURT Apartment 99 years Nov 3, ,270 1,002, Resale ONE FORT Condominium Freehold Oct 31, ,248 1,790,880-1, Resale ONE FORT Condominium Freehold Nov 7, ,227 1,631,910-1, Resale OPERA ESTATE Semi-Detached Freehold Oct 31, ,765 4,600,000-1,665 Unknown Resale OPERA ESTATE Terrace Freehold Nov 6, ,798 2,700, Unknown Resale PARC BLEU Apartment Freehold Nov 2, ,000-1, Resale PEBBLE BAY Condominium 99 years Nov 6, ,625 3,830,000-1, Resale SEASIDE RESIDENCES Apartment 99 years Nov 1, ,022 1,672,000-1,635 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Nov 4, ,087 1,947,000-1,791 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Nov 4, ,000-1,738 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Nov 5, ,173,000-1,730 Uncompleted New Sale THE HACIENDA Condominium Freehold Nov 6, ,205 1,340,000-1, Resale VERTIS Apartment Freehold Oct 31, ,205 1,600,000-1, Resale VILLA MARINA Condominium 99 years Nov 1, ,012 1,720, Resale District 16 ARCHIPELAGO Condominium 99 years Oct 31, ,539 1,655,000-1, Resale BAGNALL COURT Condominium Freehold Nov 2, ,237 1,070, Resale BAYSHORE PARK Condominium 99 years Nov 2, ,291 1,098, Resale BEDOK COURT Condominium 99 years Nov 7, ,270 1,625, Resale CASA MERAH Apartment 99 years Nov 1, ,072,500-1, Resale CASA MERAH Apartment 99 years Nov 3, ,549 1,480, Resale CASAFINA Condominium 99 years Oct 31, ,485 1,180, Resale CASAFINA Condominium 99 years Nov 2, , , Resale GRANDEUR PARK RESIDENCES Condominium 99 years Oct 31, ,290,000-1,444 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Oct 31, ,130 1,658,000-1,467 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Nov 1, ,237 1,811,000-1,463 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Nov 2, ,130 1,671,000-1,478 Uncompleted New Sale MERA TERRACE Terrace Freehold Oct 31, ,614 2,350,000-1, Resale PARBURY AVENUE Terrace Freehold Nov 1, ,754 2,410,000-1, Resale SPRING PARK ESTATE Terrace Freehold Nov 1, ,098 2,800,000-1,333 Unknown Resale SUNHAVEN Condominium Freehold Oct 31, ,280 1,115, Resale THE SUMMIT Condominium Freehold Nov 1, ,668 1,990,000-1, Resale District 17 AVILA GARDENS Condominium Freehold Oct 31, , , Resale AVILA TERRACE Terrace Freehold Nov 2, ,798 2,650, Resale LOYANG VALLEY Condominium 99 years Oct 31, , , Resale LOYANG VALLEY Condominium 99 years Nov 2, , , Resale District 18 D NEST Condominium 99 years Nov 3, ,000-1, Sub Sale EASTPOINT GREEN Condominium 99 years Nov 3, , Resale PINEVALE EC 99 years Nov 3, , , Resale RIPPLE BAY Condominium 99 years Nov 6, , , Resale RIS GRANDEUR Condominium Freehold Nov 6, ,367 1,150, Resale SEA ESTA Condominium 99 years Nov 6, ,119 1,150,000-1, Resale SEASTRAND Condominium 99 years Nov 3, , Resale THE ALPS RESIDENCES Condominium 99 years Nov 1, ,065 1,104,000-1,036 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Nov 4, ,065 1,218,000-1,143 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Nov 4, ,019,000-1,088 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Nov 5, ,065 1,230,000-1,154 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Nov 5, ,065 1,211,000-1,136 Uncompleted New Sale THE SANTORINI Condominium 99 years Oct 31, ,420 1,436,490-1, New Sale THE SANTORINI Condominium 99 years Oct 31, ,367 1,413,000-1, New Sale THE SANTORINI Condominium 99 years Oct 31, ,151 1,265,530-1, New Sale THE SANTORINI Condominium 99 years Oct 31, ,108 1,128,170-1, New Sale THE SANTORINI Condominium 99 years Nov 2, ,184 1,156, New Sale District 19 CASA CAMBIO Condominium Freehold Nov 3, ,000-1, Resale FOREST WOODS Condominium 99 years Nov 5, ,368,000-1,495 Uncompleted New Sale KINGSFORD WATERBAY # Apartment 99 years Nov 3, ,095 17,749,730-1,355 Uncompleted New Sale PARK GREEN EC 99 years Nov 1, , , Resale REGENTVILLE Apartment 99 years Nov 1, , Resale REGENTVILLE Apartment 99 years Nov 1, , Resale RIVER ISLES Condominium 99 years Nov 6, ,227 1,050, Resale RIVERSAILS Condominium 99 years Nov 1, ,000-1, Resale RIVERSAILS Condominium 99 years Nov 2, , Resale RIVERSAILS Condominium 99 years Nov 2, ,000-1, Resale STARS OF KOVAN # Apartment 99 years Nov 5, ,211 15,274,320-1,496 Uncompleted New Sale THE LUXURIE Condominium 99 years Nov 3, ,108 1,000, Resale THE MINTON Condominium 99 years Nov 2, ,087 1,138,000-1, Resale THE QUARTZ Condominium 99 years Nov 2, ,205 1,110, Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE THE RIVERVALE EC 99 years Oct 31, , , Resale THE RIVERVALE EC 99 years Oct 31, , , Resale THE SPRINGBLOOM Condominium 99 years Oct 31, ,119 1,100, Resale THE YARDLEY Apartment Freehold Oct 31, ,270 1,450,000-1, Resale District 20 THOMSON Apartment Freehold Nov 5, ,453,000-1,667 Uncompleted New Sale THOMSON Apartment Freehold Nov 5, ,445,000-1,657 Uncompleted New Sale THOMSON Apartment Freehold Nov 5, ,453,000-1,667 Uncompleted New Sale FLAME TREE PARK Condominium Freehold Nov 2, ,861 2,530,000-1, Resale HORIZON GARDENS Terrace 99 years Nov 2, ,873 1,628, Resale RAFFLESIA CONDOMINIUM Condominium 99 years Nov 2, ,442 1,480,000-1, Resale SEMBAWANG HILLS ESTATE Semi-Detached Freehold Oct 31, ,055 3,000,000-1, Resale SKY HABITAT Condominium 99 years Nov 1, ,399 1,870,455-1, Resale SKY HABITAT Condominium 99 years Nov 3, ,679 2,244,800-1, Resale SKY HABITAT Condominium 99 years Nov 6, ,410 1,919,950-1, Resale SKY HABITAT Condominium 99 years Nov 6, ,840 2,739,300-1, Resale SKY HABITAT Condominium 99 years Nov 7, ,162 1,561,230-1, Resale SKY VUE Condominium 99 years Nov 2, ,255,000-1, Resale ST NICHOLAS VIEW Terrace 99 years Nov 6, ,614 1,750,000-1, Resale District 21 CAVENDISH PARK Condominium 99 years Nov 2, ,227 1,300,000-1, Resale CLEMENTI PARK Condominium Freehold Oct 31, ,625 1,552, Resale CLEMENTI PARK Condominium Freehold Nov 6, ,162 1,250,000-1, Resale GOODLUCK GARDEN Condominium Freehold Nov 2, ,270 1,360,000-1, Resale HIGH OAK CONDOMINIUM Condominium 99 years Nov 1, , , Resale HIGHGATE Condominium Freehold Nov 3, ,377 1,320, Resale HUME PARK I Condominium Freehold Oct 31, ,270 1,330,000-1, Resale HUME PARK II Condominium Freehold Nov 1, ,237 1,180, Resale MAPLE WOODS Condominium Freehold Oct 31, ,377 1,855,000-1, Resale BEE SAN AVENUE Semi-Detached 999 years Nov 1, ,357 5,670,000-1,687 Unknown Resale BINJAI PARK Detached Freehold Nov 3, ,527 20,600,000-1, Resale PARC PALAIS Condominium Freehold Oct 31, ,377 1,415,000-1, Resale SIGNATURE PARK Condominium Freehold Nov 3, ,700 2,020,000-1, Resale SUMMERHILL Condominium Freehold Nov 2, ,302 1,340,000-1, Resale SYMPHONY HEIGHTS Condominium Freehold Nov 1, ,080,000-1, Resale SYMPHONY HEIGHTS Condominium Freehold Nov 7, ,216 1,300,000-1, Resale THE BEVERLY Apartment Freehold Nov 6, ,861 2,278,888-1, Resale THE BLOSSOMVALE Condominium 999 years Oct 31, ,350,000-1, Resale THE CASCADIA Condominium Freehold Nov 1, ,496 2,470,000-1, Resale THE BUKIT Condominium Freehold Nov 5, ,603 2,158,000-1, New Sale THE HILLSIDE Condominium Freehold Nov 1, ,528 1,460, Resale District 22 J GATEWAY Condominium 99 years Oct 31, ,000-1, Sub Sale LAKE GRANDE Condominium 99 years Oct 31, ,005,000-1,297 Uncompleted New Sale LAKE GRANDE Condominium 99 years Oct 31, ,070,000-1,308 Uncompleted New Sale LAKE GRANDE Condominium 99 years Oct 31, ,182,000-1,220 Uncompleted New Sale LAKE GRANDE Condominium 99 years Oct 31, ,055,000-1,361 Uncompleted New Sale LAKE GRANDE Condominium 99 years Nov 2, ,187,000-1,225 Uncompleted New Sale LAKE GRANDE Condominium 99 years Nov 4, ,053,000-1,359 Uncompleted New Sale PARC OASIS Condominium 99 years Nov 2, ,388 1,150, Resale PARC OASIS Condominium 99 years Nov 6, ,506 1,238, Resale PARC VISTA Condominium 99 years Nov 1, ,248 1,010, Resale PARC VISTA Condominium 99 years Nov 2, , , Resale PARC VISTA Condominium 99 years Nov 7, , , Resale THE CENTRIS Apartment 99 years Nov 3, ,582 1,500, Resale District 23 CHESTERVALE EC 99 years Nov 1, , , Resale GLENDALE PARK Condominium Freehold Nov 1, ,313 1,200, Resale HILLION RESIDENCES Apartment 99 years Oct 31, ,000-1, New Sale HILLSTA Condominium 99 years Nov 3, ,000-1, Resale HILLVIEW PARK Condominium Freehold Oct 31, ,000-1, Resale INZ RESIDENCE EC 99 years Oct 31, , Uncompleted New Sale INZ RESIDENCE EC 99 years Nov 1, , , Uncompleted New Sale INZ RESIDENCE EC 99 years Nov 2, , Uncompleted New Sale INZ RESIDENCE EC 99 years Nov 4, , Uncompleted New Sale INZ RESIDENCE EC 99 years Nov 4, , , Uncompleted New Sale JALAN EMAS URAI Semi-Detached 999 years Nov 7, ,779 5,518, Resale PARKVIEW APARTMENTS Apartment 99 years Nov 3, , , Resale SOL ACRES EC 99 years Oct 31, , Uncompleted New Sale SOL ACRES EC 99 years Nov 1, , Uncompleted New Sale SOL ACRES EC 99 years Nov 1, , , Uncompleted New Sale THE LINEAR Apartment 999 years Nov 2, ,797 1,380, Resale THE PETALS Condominium Freehold Oct 31, , , Resale TREE HOUSE Condominium 99 years Nov 3, ,248 1,275,000-1, Resale District 25 NORTHWAVE EC 99 years Nov 2, , Uncompleted New Sale NORTHWAVE EC 99 years Nov 4, , Uncompleted New Sale NORTHWAVE EC 99 years Nov 5, , Uncompleted New Sale PARC ROSEWOOD Condominium 99 years Nov 3, ,000-1, Resale District 26 SEASONS PARK Condominium 99 years Nov 3, , , Resale THE BROOKS I & II Apartment Freehold Nov 1, ,696-1, New Sale THE BROOKS I & II Apartment Freehold Nov 3, ,950-1, New Sale THE BROOKS I & II Apartment Freehold Nov 4, ,151 1,257,498-1, New Sale THE SPRINGSIDE Terrace Freehold Oct 31, ,711 3,068,000-1, Resale THE SPRINGSIDE Terrace Freehold Nov 6, ,689 2,230,000-1, Resale District 27 CANBERRA RESIDENCES Condominium 99 years Nov 1, , Resale EIGHT COURTYARDS Condominium 99 years Nov 7, , Resale EUPHONY GARDENS Condominium 99 years Nov 7, ,894 1,035, Resale NORTH PARK RESIDENCES Apartment 99 years Nov 1, ,098 1,451,760-1,322 Uncompleted New Sale NORTH PARK RESIDENCES Apartment 99 years Nov 4, ,052,800-1,438 Uncompleted New Sale NORTH PARK RESIDENCES Apartment 99 years Nov 4, ,072,540-1,465 Uncompleted New Sale NORTH PARK RESIDENCES Apartment 99 years Nov 5, ,098 1,476,600-1,345 Uncompleted New Sale PARC LIFE EC 99 years Nov 3, , Uncompleted New Sale PARC LIFE EC 99 years Nov 3, , , Uncompleted New Sale PARC LIFE EC 99 years Nov 4, , , Uncompleted New Sale PARC LIFE EC 99 years Nov 4, , , Uncompleted New Sale PARC LIFE EC 99 years Nov 5, , , Uncompleted New Sale PARC LIFE EC 99 years Nov 5, , , Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years Nov 1, , , New Sale SIGNATURE AT YISHUN EC 99 years Nov 3, , , New Sale SIGNATURE AT YISHUN EC 99 years Nov 4, , , New Sale SYMPHONY SUITES Condominium 99 years Nov 1, ,000-1,058 Uncompleted New Sale SYMPHONY SUITES Condominium 99 years Nov 1, ,000-1,002 Uncompleted New Sale SYMPHONY SUITES Condominium 99 years Nov 2, ,000-1,078 Uncompleted New Sale THE BROWNSTONE EC 99 years Nov 2, , Uncompleted New Sale THE CRITERION # EC 99 years Nov 5, ,699 12,091, Uncompleted New Sale THE SHAUGHNESSY Terrace 99 years Nov 3, ,486 1,500, Resale THE VISIONAIRE EC 99 years Nov 1, , Uncompleted New Sale THE VISIONAIRE EC 99 years Nov 2, , Uncompleted New Sale THE VISIONAIRE EC 99 years Nov 4, , Uncompleted New Sale WATERCOVE Terrace Freehold Nov 5, ,465 2,380, Uncompleted New Sale District 28 BELGRAVIA VILLAS Terrace Freehold Nov 3, ,583 2,992, Uncompleted New Sale BELGRAVIA VILLAS Terrace Freehold Nov 5, ,766 3,304, Uncompleted New Sale H2O RESIDENCES Condominium 99 years Nov 7, ,130 1,160,000-1, Resale LUXUS HILLS Terrace 999 years Nov 7, ,163 2,850,000-1, Resale SELETAR HILLS ESTATE Semi-Detached 999 years Oct 31, ,432 3,150, Resale SELETAR PARK RESIDENCE Condominium 99 years Nov 6, ,000-1, Resale DISCLAIMER: Source: URA Realis. Updated Nov 14, The Edge Publishing 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. EC stands for executive condominium # Not all caveats are reflected owing to the high volume of transactions

12 EP12 EDGEPROP NOVEMBER 20, 2017 GAINS AND LOSSES Loss of $2.57 mil at Turquoise BY LIN ZHIQIN On Nov 6, a four-bedroom, 2,411 sq ft unit on the fifth floor of Turquoise was sold for $3.7 million ($1,535 psf). The price is 41% lower than the $6.27 million ($2,600 psf) that the previous owner paid in October This translates into a $2.57 million loss, the most unprofitable deal for condos sold in the week of Oct 31 to Nov 7. Based on the matching of URA caveat data, there have been 11 unprofitable transactions at Turquoise, a 91-unit condo in Sentosa Cove that was completed in The average loss is $2.66 million, or 41%. The sole profitable transaction was in September 2015, when a 2,185 sq ft unit fetched a $800,000, or 28%, profit. The previous owner bought it for $2.9 million ($1,327 psf) in July 2015 and sold it for $3.7 million ($1,693 psf) two months later. Owing to the short holding period, the sale incurred a 16%, or $592,000, seller s stamp duty. After accounting for SSD, the net profit was $208,000, or 7%. The first owner of the 2,185 sq ft unit bought it from the developer at $6.04 million ($2,763 psf) in October 2007 and incurred a $3.14 million, or 52%, loss when it changed hands in July 2015 at $1,327 psf, the lowest transacted price psf at Turquoise, according to URA caveat data. The transaction resulted in the third-largest loss at Turquoise on record. The largest loss at Turquoise involved a 2,777 sq ft unit that changed hands in June 2016 for $3.8 million ($1,368 psf). It resulted in a $3.36 million, or 47%, loss to the seller, who paid $7.16 million ($2,580 psf) for it in November The unprofitable transactions notwithstanding, prices at Turquoise seem to have stabilised. Last year, three units changed hands at $1,368 psf, $1,400 psf and $1,521 psf. The two units that changed hands this year fetched $1,417 psf and $1,535 psf respectively. The most profitable deal in the week of Oct The unprofitable transactions notwithstanding, prices at Turquoise seem to have stabilised. Find the most affordable listings in the project at edgepr.link/turquoise. 31 to Nov 7 was at Regency Park, a freehold condo in prime District 10. The seller of a 2,260 sq ft, three-bedroom unit made a $2 million, or 93%, profit on Nov 2, when it was sold for $4.15 million ($1,836 psf). He paid $2.15 million ($951 psf) for it in August 2006 and realised a 6% annualised gain from the sale. Based on the matching of URA caveat data, there have been seven profitable transactions at Regency Park this year. The average profit is $1.48 million, or 61%. In September, a 3,649 sq ft unit changed hands at $6.35 million ($1,740 psf) in the sole unprofitable transaction at the condo this year. The previous owner paid $6.88 million ($1,885 psf) for it in July 2012 and incurred a $530,000, or 8%, loss. The same unit fetched a $2.83 million, or 70%, profit when it was sold in July According to URA caveat data, it was first purchased for $4.05 million ($1,110 psf) in April At Pebble Bay, a 2,626 sq ft, four-bedroom unit was sold for a $1.74 million, or 84%, profit on Nov 6. The previous owner bought it from the developer for $2.09 million ($795 psf) in May 1997 and sold it for $3.83 million ($1,458 psf). Pebble Bay is a 510-unit condo on Tanjong Rhu Road. It has a 99-year lease tenure and was completed in Based on the matching of URA caveat data, 22 units were sold at a profit at Pebble Bay this year, and two units were sold at a loss. The average profit is $754,862, or 42%. The most profitable deal at Pebble Bay this year was the sale of a 2,809 sq ft unit at $4.65 million ($1,655 psf). The previous owner, who paid $2.05 million ($730 psf) for it in September 2001, made a $2.6 million, or 127%, profit. E SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Top 10 gains and losses from Oct 31 to Nov 7 Most profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2017) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 Regency Park 10 2,260 Nov 2 1,836 Aug 15, ,000, Pebble Bay 15 2,626 Nov 6 1,458 May 14, ,742, Holland Tower 10 1,873 Oct 31 1,195 July 2, ,348, Oleanas Residence 9 1,636 Nov 2 1,485 May 1, ,205, The Cosmopolitan 9 1,399 Nov 6 1,837 March 31, ,184, Varsity Park Condominium 5 1,798 Nov 7 1,074 Aug 18, ,137, Rivergate 9 1,023 Nov 2 2,445 April 9, ,467 1,000, Ventana 5 2,185 Nov 1 1,103 May 15, , Belmond Green 10 1,066 Nov 2 1,877 Jan 13, , One Tree Hill Mansions 10 1,625 Nov April 1, , URA, EDGEPROP Non-profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2017) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 Turquoise 4 2,411 Nov 6 1,535 Oct 29, ,600 2,569, The Laurels 9 1,313 Nov 3 2,193 April 7, , , Citigate Residence Nov 1 1,190 April 15, , , Luma Nov 3 1,750 Nov 2, , , Reflections At Keppel Bay 4 1,313 Nov 3 1,420 Dec 12, , , L viv 11 1,001 Nov 6 2,048 April 7, , , Summerhill 21 1,302 Nov 2 1,029 June 27, , , Casafina 16 1,206 Nov Feb 1, , East 14 1,938 Nov 6 1,006 March 14, , , Fifty-Two Stevens Nov 2 1,744 Feb 18, ,906 85, Note: Computed based on URA caveat data as at Nov 14 for private non-landed houses transacted between Oct 31 and Nov 7. The profit-and-loss computation excludes transaction costs such as stamp duties.

13 EDGEPROP NOVEMBER 20, 2017 EP13 DEAL WATCH Clydesview unit on the market for $2.6 mil SAMUEL ISAAC CHUA/THE EDGE SINGAPORE BY ANGELA TEO A 2,130 sq ft, three-bedroom unit at Clydesview has been put up for sale at $2.6 million ($1,221 psf). Its Singaporean owner, who has been staying there for almost 12 years, is looking to sell the unit to stay closer to his siblings, says marketing agent Tan Yen Ling from ERA Realty. Located on Jervois Lane, the freehold Clydesview comprises 32 three-bedroom units with sizes starting from 2,088 sq ft. It was completed by Clydesbuilt Group in The development is adjacent to Jervois Green, which was put up for collective sale at an asking price of $48 million on Nov 6. Clydesview is about 600m from the Redhill MRT station. It is also adjacent to Crescent Girls School and 1km from Alexandra Primary School. Tan says the owner of the Clydesview unit likes the development s location because it s at the heart of Singapore and within a short drive of many destinations. She notes that an estimated 60% of residents at Clydesview are expatriates. At Halloween, kids go trick-or-treating around the development. It s a friendly environment. The unit on the market is a duplex on the third floor. On the upper level are the living area, kitchen, a bedroom and helper s room; the lower level houses a master bedroom and a third bedroom. All bedrooms come with en-suite bathrooms. The Clydesview unit is cosy and well maintained, says Tan. It has been touched up every two to three years since it was last renovated 11 years ago. It also offers pool and city views. Tan reckons that the unit is going at a good price compared with similar units transacted at Clydesview. The last transaction at the condominium was that of a 2,099 sq ft unit on the first floor, which was sold at $2.725 million ($1,298 psf), according to a caveat lodged with URA Realis in May The new owner would be able to rent out the unit at $5,200 a month, estimates Tan. This is comparable to the $5,500 monthly rental rate achieved in September at another Clydesview unit measuring between 2,100 and 2,200 sq ft, according to rental contract data from URA. E The seller of the three-bedroom unit is a Singaporean who has been residing there for almost 12 years Recent transactions at Clydesview CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) May 23, ,099 2,725,000 1,298 Oct 23, ,088 2,460,000 1,178 Recent rental contracts for 2,100 to 2,200 sq ft units at Clydesview LEASE DATE MONTHLY RENT $ $ PSF September , May , March , March , TABLES: URA, EDGEPROP YES! Start my annual subscription now. $ (Inclusive of GST) for The Edge Collection 3-year plan and save 70% off newsstand price $ (Inclusive of GST) for The Edge Collection 1-year plan TYPE OF SUBSCRIPTION Corporate Personal Gift Last name (Mr/Ms/Dr ) First name Company Job Title Delivery Address Home Office COLLECTION 3-Year plan at $238 only The Edge Singapore (print + 3 digital access) + The Edge Malaysia (1 digital access) Postal Code Tel Fax Mobile Date Of Birth PAYMENT OPTIONS 1. Credit Card. Please charge to my credit card American Express MasterCard Visa Cardholder s name Contact No Card no Expiry date Signature 2. Cheque. My cheque payable to The Edge Publishing Pte Ltd is enclosed Cheque no 3. Online. Visit subscribe.theedgesingapore.com 4. Phone. Please call (Monday to Friday 9am to 5.30pm) Mail the duly completed subscription form and cheque to: The Edge Publishing Pte Ltd 150 Cecil Street #13-01 Singapore Tel: Fax: hotlinespore@bizedge.com *This special promotion ends on November October 31, 30, Subscription to to The Edge Collection is non-cancellable and non-refundable. The Edge Singapore (print version): Please allow 2-3 weeks for for delivery to to commence. Delivery charges apply for for non-singapore addresses. Men Svenson Skin redemption Centre s voucher is limited limited to first to the 100 first subscribers 200 subscribers for the to $238 the $238 plan. package each month. Terms and conditions apply ** You hereby authorize The Edge Publishing Pte Ltd to to charge to to your credit card for automatic subscription renewal as per the selected plan until you cancel your subscription. If you wish to opt out of the auto-renewal, please check this box: TES803/SVENSON TES806/MSC

14 EP14 EDGEPROP NOVEMBER 20, 2017

15 EDGEPROP NOVEMBER 20, 2017 EP15

16 EP16 EDGEPROP NOVEMBER 20, 2017