RC411 Condo

Rewritten:

The latest Emerging Trends in Real Estate Global Outlook, co-published by PwC and the Urban Land Institute (ULI) on March 12, revealed that low yields and slow transaction volumes are among the top concerns for property investors in the Asia Pacific (APAC) region this year. The report gathered insights from global asset managers, including leading firms such as Blackstone, Savills Investment Management, and CBRE Investment Management.

Results from the survey showed that over 70% of respondents listed low yields, high interest rates, and geopolitical tensions as their main concerns. However, the report also noted that many industry leaders still view APAC as an attractive option for diversification due to its growing population and other demographic factors. Additionally, the region’s monetary policies, such as Japan’s commitment to raising short-term interest rates, make it a promising investment destination.

In 2025, APAC’s real estate market saw a growth of 13% year-on-year, reaching a total transaction volume of US$173.5 billion (SGD231.3 billion). This outperformed other regions such as Europe, Middle East and Africa (EMEA) with a 12% year-on-year growth and the Americas with an 11% year-on-year growth.

However, as Europe and North America enter a new capital market cycle with expected improvements in transaction volumes, APAC is projected to have a slower pace of growth. Last year, the region’s liquidity was affected by a decline in transaction volume, with a 25% year-on-year decrease in China to US$418.3 billion (SGD557.6 billion) and a 1% decrease in Hong Kong SAR to US$15.7 billion (SGD20.9 billion).

In contrast, European investors face different concerns, with the top three areas being international political instability (85%), escalation of conflicts (83%), and economic growth (77%).

Data from leading US-based research and data analytics company MSCI also show that US commercial property prices remained stable in 2025, with only a 0.7% decrease. As a result, investors may shift their focus and capital to these regions in the coming months.

The report also highlighted that data centre assets have the highest investment and development prospects in all three regions for 2025. According to research from Green Street, the global demand for data centres reached record levels last year, with asking rents increasing at a double-digit rate. The latest research from MSCI predicts that 2024 will be a significant year for this asset class, with a 60% increase in acquisitions of existing data centres through single property and portfolio deals in the US.

In September of last year, Blackstone and the Canada Pension Plan Investment Board (CPP) acquired data centre firm AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over US$16 billion (SGD21.3 billion). This deal was the largest commercial real estate transaction in APAC and globally in 2024.…

A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has been put on the market for $15 million. This exclusive marketing exercise is being conducted by SRI Capital Market, the appointed agent. The three-storey intermediate shophouse sits on a 1,129 sq ft plot that is zoned for both residential and commercial use, with a gross plot ratio of 4.2 in accordance with the most recent Master Plan. The building has a built-up area of 2,635 sq ft, and the guide price works out to be $2,635 per square foot.

The first and second floors of the shophouse are approved for restaurant use, while the top floor is currently leased as residential space. Situated within the Beach Road secondary settlement conservation area, any new extensions built on this site can reach up to five storeys in height, subject to relevant approvals.

According to Low Choon Sin, the managing partner of SRI Capital Market, the shophouse is suitable for end-users such as F&B tenants or corporate offices. The residential area on the third floor can serve as accommodation for some staff members, making it a convenient choice for businesses. Low also highlights the excellent frontage along Liang Seah Street, which experiences high volumes of vehicular traffic during the day. The property is also in proximity to popular dining and shopping destinations in Bugis.

Low adds, “20 Liang Seah Street presents investors with an opportunity to acquire a 999-year leasehold property that can be held for the long term, taking advantage of the rejuvenation of Bugis.” The area has recently seen the completion of major developments such as Guoco Midtown and the upcoming Shaw Towers, which are expected to further enhance the vibrancy of the neighbourhood.

The expression of interest exercise for the sale of 20 Liang Seah Street will conclude on April 10.…

City Developments’ long-standing internal conflict between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek, appears to have reached a resolution. Kwek Leng Beng has withdrawn legal actions against a group of board directors led by his son, and all board members have agreed to put their differences aside for the good of the company and its stakeholders. This includes the recently appointed independent directors, Jennifer Duong Young and Su Yen Wong, who will continue to serve on the board.

“We are all committed to maintaining good corporate governance and strengthening CDL’s business, both now and in the future,” said Kwek Leng Beng in a statement on behalf of the board. This includes focusing on completing major developments in Singapore and globally, expanding the Millennium & Copthorne brands, and maximizing shareholder value through initiatives such as capital recycling.

The conflict within CDL had escalated when Kwek Leng Beng made allegations of poor corporate governance against the management team, led by his son, which resulted in the resignation of independent director Catherine Wu. However, with the withdrawal of legal actions, the company can now move forward with a united front. This also comes at a crucial time as the company continues to navigate the challenges posed by the COVID-19 pandemic.

In other news, CDL has recently announced the acquisition of five student housing assets in the UK for $357 million. The company also offered a portfolio of 11 strata shops at The Venue Shoppes for $40.77 million, and saw strong sales at The Residences at W with 65 units sold at an average price of $1,780 per square foot. With these developments, CDL remains committed to delivering value to its shareholders and strengthening its position in the market.…

Steve Leung Design Group (SLD), the renowned interior design firm led by architect and designer Steve Leung, is making its mark in the European market through a partnership with Italian designer Andrea Bonini.

According to a press release, the Hong Kong-based company plans to establish a new branch in Europe under the name SLD . Andrea Bonini. This expansion marks SLD’s first venture into the European market and will offer interior design services and products for clients in both Asia and Europe, ranging from high-end residences to luxury hospitality projects.

The new brand, SLD . Andrea Bonini, will be unveiled at the upcoming Salone del Mobile, Milan’s prestigious furniture fair, in April. Along with showcasing their interior design projects, the company will also introduce their first line of products – a smart home lighting collection created in partnership with smart home manufacturer Moorgen.

The collaboration with Andrea Bonini is part of SLD’s new business direction, focused on revitalization, diversification, and globalization. “With over 28 years of experience and a strong competitive edge in the market, we aim to bring a better lifestyle through our designs to more clients worldwide,” the company stated in the press release.…

rate for apartment unitsCapitaLand acquires prime site in Ho Chi Minh City, to build residential and commercial properties

CapitaLand Group has recently signed a memorandum of understanding (MOU) with technology giant Microsoft in order to utilize advanced technologies and artificial intelligence (AI) in its operations.

As part of the agreement, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, which provides access to various Microsoft solutions and services. This will allow CapitaLand to enhance customer engagement and improve efficiency in its various businesses, including funds, investments, retail, lodging, and development.

The partnership will also explore potential collaboration opportunities in infrastructure development, such as utilizing Microsoft’s cloud computing platform Azure for CapitaLand Investment’s data center design and products. Additionally, the integration of AI, data analytics, and machine learning will be utilized to further CapitaLand’s digital and business transformation efforts.

Quah Ley Hoon, the group chief corporate officer of CapitaLand Investment, stated, “Our collaboration with Microsoft is a significant step in CapitaLand’s digital transformation journey. AI will be pivotal in how we shape our future with operational efficiencies and create value for our stakeholders.”

Furthermore, CapitaLand Investment (CLI) has also signed an MOU with Singapore Business Federation (SBF) to establish a framework for integrating AI and digitalization in CLI’s retail ecosystem. This includes promoting the adoption and proof of concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness. The partnership will also focus on developing AI skills and competencies among retail tenants.

According to the article, CapitaLand Investment has recently acquired three properties in Singapore and Thailand and expects to announce a significant decline in Patmi. However, the company’s cash flow is expected to remain stable. In other news, the group has sold the last penthouse unit in One Pearl Bank and achieved a 100% sale rate for all apartment units. Additionally, CapitaLand Group has acquired a prime site in Ho Chi Minh City and plans to develop residential and commercial properties.…

rate in 1 day – CapitaLand

CapitaLand Group has recently joined forces with Microsoft to incorporate artificial intelligence (AI) and advanced technologies into its operations. Through this partnership, CapitaLand will be participating in Microsoft Singapore’s AI Pinnacle Program, which will provide access to Microsoft platforms, services, and solutions. This will enable CapitaLand to enhance customer engagement and improve operational efficiency across its funds, investments, retail, lodging, and development businesses.

Under this collaboration, CapitaLand and Microsoft will identify potential areas of collaboration in infrastructure development, utilizing Microsoft’s Azure cloud computing platform to design and develop data centers for CapitaLand Investment. They will also integrate AI, data analytics, and machine learning to further strengthen CapitaLand’s digital transformation efforts.

“Our collaboration with Microsoft is an important milestone in our digital transformation journey. AI will play a crucial role in shaping our future by driving operational efficiencies and creating value for all our stakeholders,” says Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment.

Aside from this, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has also signed a memorandum of understanding (MoU) with the Singapore Business Federation (SBF) to establish a framework for digitalization and AI integration across CLI’s retail ecosystem. This includes initiatives such as implementing and testing AI, data analytics, and cybersecurity solutions to boost business efficiency and competitiveness. CapitaLand will also focus on developing AI-related competencies and skills among its retail tenants.

These collaborations reflect CapitaLand’s commitment to drive digital transformation and innovation across its businesses. With the use of AI and advanced technologies, CapitaLand aims to enhance its operations, create value for stakeholders, and stay ahead in the fast-paced real estate industry.

In other news, CapitaLand Investment has recently acquired three properties in Singapore and Thailand, further expanding its portfolio. The company expects to see a significant decrease in its net profit and cash flow this year, but it remains confident that its cash flow will remain stable. The last penthouse at One Pearl Bank has also been sold, and the development has achieved a 100% sales rate in just one day, a testament to CapitaLand’s strong presence in the market.…

A set of 14 retail establishments located at Peninsula Plaza, Sim Lim Square, and Far East Plaza is currently up for sale through an invitation for interested buyers to express their desire for purchasing the properties. The marketing of these establishments is being handled by ERA Realty Network, with a total asking price of $26.46 million.

Out of these 14 units, two are situated at Peninsula Plaza, a mixed-use development on North Bridge Road with a 999-year leasehold. These ground-floor units are connected and have a combined strata area of approximately 990 sq ft, priced at $8 million or $8,081 psf. Peninsula Plaza was constructed in 1980 and consists of a retail podium spanning six storeys and a 24-storey office tower. The development is conveniently linked to the City Hall MRT Interchange Station, providing access to both the North-South and East-West lines.

There are also 11 commercial units available for sale at Sim Lim Square, with a total strata area of 5,081 sq ft. These units, zoned for commercial use, are all situated on the fifth floor and hold a 99-year lease that began in April 1983, leaving approximately 57 years remaining. Most of the units are currently leased out, according to ERA. Facing the main atrium of the mall and with direct access from escalators and lifts, these units are priced at $840,000 each. The entire portfolio can also be purchased together at a discounted price of $15.855 million, translating to $3,120 psf on the strata area. Sim Lim Square was completed in 1987 and boasts of 492 commercial units spread across six storeys and two basement levels.

There is one remaining freehold unit for sale at Far East Plaza, located on the second floor and offering a strata floor area of 355 sq ft. Priced at $2.6 million or $7,324 psf, this retail unit faces the escalator near the mall’s main entrance. Far East Plaza was completed in 1982 and comprises a five-storey retail mall and serviced apartments. It is situated within walking distance to Orchard Road MRT Station.

Director of capital markets and investment sales at ERA, Donald Goh, believes that these properties will attract both property investors and business owners. He highlights that retail sales of strata units in the Downtown Core and Orchard Planning Area remained robust last year, with 28 and 33 transactions, respectively. Goh also states that “a ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, a testament that strata retail shops are still an attractive investment.”

The EOI for these properties will close on April 17 at 3pm. Interested buyers can check out the latest listings for properties at Peninsula Plaza.…

GuocoLand, in partnership with TID and Hong Leong Holdings, has been granted a green club facility worth $367.1 million from DBS Bank for the development of its Faber Walk site. The land, which was acquired through a Government Land Sale tender in November last year, will feature 399 residential units spread over nine low-rise blocks. The consortium had submitted the highest bid of $349.86 million, translating to $900 per square foot per plot ratio, for the 277,659 square foot parcel.

The future development will be located in the prestigious Faber Walk landed private residential area, adjacent to the Faber Hills estate. It boasts a waterfront location next to the Pandan River and is also situated near the upcoming Old Jurong Line Nature Trail.

This green facility for the Faber Walk project is in line with GuocoLand’s commitment to sustainability, which is evident in its other developments such as Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street, and Lentor Mansion in Lentor Gardens.

Additionally, GuocoLand aims to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge for the Faber Walk development upon completion. Dora Chng, residential director of GuocoLand, expresses excitement for the use of the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for the residents. This is in line with the company’s successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.

Furthermore, GuocoLand has an upcoming project at Upper Thomson Road (Parcel B) with Hong Leong Holdings. The 941-unit development, targeted for launch in the second half of the year, is set to continue the company’s impressive track record of sustainable and well-designed developments.…

Aurea, a new luxury development located in the Core Central Region (CCR), officially went on sale on March 8, 2025. This highly anticipated project, jointly developed by Far East Organization and Perennial Holdings, has set a new standard for luxury living in the CCR. Despite only 23 units being sold in the first quarter at an average price of $3,005 per square foot (psf), the response has been impressive.

The developers released a total of 78 units for sale in the first phase, which included a mix of two- to four-bedroom apartments from floors 4 to 16. This translates to a sales rate of 30% based on the 78 units released. Aurea features a total of 188 units spread across 45 storeys and was designed by renowned firm DP Architects with a unique “hanging garden concept.” It is also the first new private condominium connected to a mixed-use development that was sold en bloc and conserved, now known as Golden Mile Singapore.

Out of the 188 units, 83% of the buyers were Singaporeans, with permanent residents (PRs) from Malaysia making up the remaining 17%. This translates to a sales rate of about 12.2%. According to Mark Yip, CEO of Huttons Asia, this is within the expected range for CCR projects, which typically see a sales rate of 10% to 30% during launch weekends due to the lack of HDB upgraders compared to suburban projects.

While CCR projects have seen lackluster sales since the tightening of the Additional Buyer’s Stamp Duty (ABSD) measure in April 2023, PropNex CEO Ismail Gafoor considers Aurea’s sales to be encouraging. He notes that the ABSD rate for foreigners has doubled to 60%, significantly cooling interest for CCR homes. In fact, 2024 saw the lowest number of CCR private homes sold on record, at just 378 units, a 74% decline from 2023’s 1,454 units.

However, Gafoor believes that the CCR segment will see a gradual improvement in sales. He explains that unlike RCR and OCR projects, which see a high number of sales during launch weekends, CCR projects tend to have a steady number of transactions over several months due to their niche market targeting buyers seeking luxury living.

According to the developers, the Prestige Collection, which features two- and three-bedroom apartments, accounted for 74% of the sales. Buyers were drawn to the well-designed spaces, functional layout, and investment potential of these units. The Signature Collection, which includes four-bedroom units, also attracted buyers with their expansive balconies and sweeping views of Marina Bay and Kallang Basin.

The Sky Villa Collection, with 18 five-bedroom apartments and two six-bedroom penthouses, has also seen strong interest, with buyers impressed by the rare opportunity to own such large-format homes in the downtown area. With property prices in the CCR and RCR converging, Ken Low, managing partner of SRI, notes that the price gap has narrowed significantly from an average of 40% in the last 10 years to just 20% across all properties regardless of tenure.

Marcus Chu, CEO of ERA Singapore, believes that the slower price growth in the CCR in recent years can be attributed to fewer new home launches. However, with an expected nine CCR launches in 2025, he predicts a notable rise in CCR home prices due to increased luxury project launches. He adds that savvy investors may shift their focus back to the CCR, as the price gap between CCR and RCR has narrowed from 50% in 2018 to just 10% in 2024, with expectations for it to widen again with the launch of more luxury homes.

SRI’s Low believes that Aurea is well-positioned to benefit from Singapore’s ongoing urban renewal efforts, with major infrastructural and lifestyle upgrades in the surrounding precincts. The revitalization of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan, and the completion of the North-South Corridor will enhance accessibility, connectivity, and vibrancy in this key city district. He notes that Aurea also sits at the doorstep of the largest transformation in Singapore, with the 120-km Southern coastline redevelopment covering the Greater Southern Waterfront, Marina Bay, Kallang Basin, and the future Long Island project.…

for mass-market condosSim Lian Group sells 90% of its executive condo, Aurelle of Tampines, on launch day

On March 8, developer Sim Lian Group reported that 682 units, or 90%, of its 760-unit executive condominium (EC), Aurelle of Tampines, located at Tampines Street 62, had been sold. The average price achieved for these units was $1,766 per square foot (psf).

According to Sim Lian Group, all the four- and five-bedroom units were sold, and 84% of the three-bedroom units were taken up as well. “This strong response demonstrates the demand for well-designed, well-connected homes in a prime location like Aurelle of Tampines,” commented Kuik Sing Beng, executive director of Sim Lian Group Limited.

Interested buyers can find the latest updates on available units and prices for Aurelle of Tampines.

PropNex CEO Ismail Gafoor noted that the average price of $1,766 psf has set a new benchmark launch price in the EC market. He also pointed out that the launch take-up rate of 90% is the highest since the 531-unit Hundred Palms Residences was completely sold out on its launch day in July 2017, at an average price of $841 psf.

Sim Lian also revealed that the 30% quota allocated for second-timers was filled by 3.15 pm on the launch day. This quota will be lifted one month after the launch date.

“The take-up rate could have been even higher if there was no quota limit for second-timers,” remarked Eugene Lim, key executive officer at ERA Singapore. He also noted that second-timers will have another opportunity to ballot for a unit one month after the launch.

“The government could potentially increase the quota for second-timers purchasing an EC, in line with the recent increase in the quota for second-timers buying three-room and larger BTO [build-to-order] flats,” added Mark Yip, CEO of Huttons Asia.

PropNex’s Gafoor also mentioned that about 68% of buyers opted for the Deferred Payment Scheme (DPS) to finance their purchases, while the remaining chose the Normal Payment Scheme.

Prior to the launch, over 2,200 electronic applications (e-apps) had been submitted since the project preview opened on February 21. This is the highest number of e-apps recorded since Copen Grand, the first EC launched in Tengah, received 2,300 e-apps in 2022.

For more information, read: Are ECs still a good buy?

Aurelle is the second EC to be launched in Tampines North, following the neighbouring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Tenet, launched in December 2022, saw 72% of units sold on the launch day and is now fully sold at an average price of $1,348 psf.

Prices for units at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit from 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom from 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom of 1,356 sq ft.

“The attractive pricing, strategic location, and unique features of the project have made it a highly sought-after choice for eligible first-time buyers and upgraders,” said ERA’s Lim.

The strong sales at Aurelle could also be attributed to its proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), a shopping mall, hawker centre, and community club.

ParkTown Residence, by a joint venture between CapitaLand and UOL Group, sold 1,041 units on its launch weekend on February 22-23. To date, 1,043 units have been sold at an average of $2,361 psf.

“Aurelle is possibly the second EC to be located next to a fully integrated mixed-use development,” said Huttons’ Yip. The first was the 573-unit Esparina Residences in Sengkang, which was launched in October 2010 with an average price of around $748 psf. Based on caveats lodged, units at Esparina Residences have been sold for an average price of $1,625 psf between January 2024 and January 2025, which is a 117% increase.

In November 2023, a 1,367 sq ft unit on the seventh floor of Esparina Residences was sold for $2.388 million ($1,747 psf), the second-highest psf price achieved at the development. The highest was for another 1,367 sq ft unit on the 14th floor, which was sold for $2.4 million ($1,756 psf) in November 2023, according to caveats lodged.

To compare prices, read: Sim Lian’s Aurelle of Tampines to set new price benchmark for executive condos

According to ERA’s Lim, new ECs are priced around $600 psf cheaper than new private condos in 2025. However, compared to resale condos in the suburbs or Outside Central Region (OCR), the average price of a new EC is only 1% higher. “This, along with a fresh 99-year lease and modern facilities, makes new ECs an attractive option for buyers,” he added.

Interested buyers can also find listings for Aurelle of Tampines properties, and compare the price trend of new launch condos versus resale condos. You can also find the number of units available at Aurelle and compare the price trend of new sale condos versus new sale ECs.

For more options, you can also check out condo listings in District 18 and generate a price trend graph for new launch condos in District 18.

OTHER NEWS FROM EDGEPROP

– Sim Lian to preview another executive condo in Tampines
– Sim Lian Group sells 180 units at Treasure at Tampines over launch weekend
– Developers catching the wave of bullish sentiment to launch more units
– A revival of sales at Penrose?
– The market for executive condo planning might be shifted…