In any major city, owning residential property with a desirable postcode is a symbol of status and success. More so in land-scarce metropolises like Hong Kong, New York and Singapore.
Here on our little red dot, sales of luxury residential properties in prime districts are picking up, notably among foreign buyers, according to Leong Boon Hoe, chief operating officer of List Sotheby’s International Realty, Singapore. In fact, prestigious developments like Gramercy Park are already sold out, says Leong, while The Nassim and New Futura are over 50 per cent sold. This is thanks to the fine-tuning of some cooling measures in March 2017, as well as the fact that prices here are more palatable than that of cities like Hong Kong.
As such, here are the developments to monitor, if you haven’t already snagged that dwelling in the sky.
01: WALLICH RESIDENCE
Address: WALLICH STREET
Starting price per square foot: $3,050 PSF AT LAUNCH (DECEMBER 2013); $3,310 PSF IN 1H2018
Developer: GUOCOLAND
Architect: SKIDMORE, OWINGS & MERRILL (SOM)
Guocoland’s landmark Wallich Residence made headlines in July last year when its 21,108 sq ft three-storey super penthouse came with an asking price of $108 million. The unit has a private lift with direct access to the basement carpark, where the owner is entitled to four designated parking spaces.
As part of the mixed-use Tanjong Pagar Centre, the 99-year leasehold property has the distinction of being Singapore’s tallest residential development. Its 181 units are located on floors 39 through 64, or a height of 180m to 290m – meaning spectacular views of the CBD, Marina Bay and Southern Islands. If the panoramic views from their apartments are not enough, residents can choose to admire the surroundings from the Sky Garden (220m) or the Sky Observatory on level 62 (270m).
Being part of an integrated project means that company chiefs could potentially set up residence in the same development as their businesses: Guoco Tower has 890,000 sq ft of Grade A office space spread over 31 storeys, while a retail podium offers 100,000 sq ft of leasable space. They could also entertain visiting clients in the adjoining 223-room Sofitel Singapore City Centre – which provides residents with concierge services, in partnership with Guocoland’s concierge team.
01: WALLICH RESIDENCE
Address: WALLICH STREET
Starting price per square foot: $3,050 PSF AT LAUNCH (DECEMBER 2013); $3,310 PSF IN 1H2018
Developer: GUOCOLAND
Architect: SKIDMORE, OWINGS & MERRILL (SOM)
Guocoland’s landmark Wallich Residence made headlines in July last year when its 21,108 sq ft three-storey super penthouse came with an asking price of $108 million. The unit has a private lift with direct access to the basement carpark, where the owner is entitled to four designated parking spaces.
As part of the mixed-use Tanjong Pagar Centre, the 99-year leasehold property has the distinction of being Singapore’s tallest residential development. Its 181 units are located on floors 39 through 64, or a height of 180m to 290m – meaning spectacular views of the CBD, Marina Bay and Southern Islands. If the panoramic views from their apartments are not enough, residents can choose to admire the surroundings from the Sky Garden (220m) or the Sky Observatory on level 62 (270m).
Being part of an integrated project means that company chiefs could potentially set up residence in the same development as their businesses: Guoco Tower has 890,000 sq ft of Grade A office space spread over 31 storeys, while a retail podium offers 100,000 sq ft of leasable space. They could also entertain visiting clients in the adjoining 223-room Sofitel Singapore City Centre – which provides residents with concierge services, in partnership with Guocoland’s concierge team.
02: NEW FUTURA
Address: 16,18 LEONIE HILL ROAD
Starting price per square foot: $3,195 PSF AT LAUNCH (JAN 2018); $3,560 PSF IN 1H2018
Developer: CITY DEVELOPMENTS LIMITED (CDL)
Architect: SKIDMORE, OWINGS & MERRILL (SOM)
It is not often that a new freehold luxury property in prime District 9 comes along. So the anticipation surrounding New Futura when it was launched in January was warranted. That the project’s developer – the SGX-listed CDL – has a good track record also bode well.
The architectural firm responsible for the design, SOM, is itself a brand name. One of the largest such firms in the world, and best known for designing glass-box skyscrapers, SOM is behind world-famous structures like the Burj Khalifa in Dubai – currently the world’s tallest building – and One World Trade Center in New York.
Located close to the Indian High Commission, the twin 36-storey towers house a total of 124 units. They range from two-, three-, and four-bedroom units to the highest category “Bungalow-in-the-Sky” concept. The three- and four-bedroom apartments come with 180-degree views of Orchard Road, Marina Bay and the CBD.
But it is the sky bungalows that really have the wow factor. These dual-level penthouses boast 360-degree panoramas and are also equipped with 13m private lap pools, as well as state-of-the-art Poggenpohl kitchens designed by Porsche. Just two such units are available.
03: GRAMERCY PARK
Address: 57 GRANGE ROAD
Starting price per square foot: $2,550 PSF AT LAUNCH (MAY 2016); $3,190 PSF IN 1H2018
Developer: CITY DEVELOPMENTS LIMITED (CDL)
Architect: NBBJ
With its freehold tenure and prime location just minutes away from Orchard Road, CDL’s Gramercy Park is a hot favourite among the well-heeled.
At least two units sold over the past year have the distinction of being among the most expensive in Singapore, in terms of absolute price. Both of these are five-bedroom penthouses that sprawl over 7,287 sq ft. One went for $21.86 million ($3,000 psf ), while the other was snapped up for $24.5 million or $3,362 psf.
(RELATED: Luxury Homes: Inside the multimillion-dollar Morgan Penthouse in Hong Kong)
Size – and the inherent luxury of space – is something that the development is known for. The entire estate sprawls over 15,718 sq m (170,000 sq ft). On its grounds are a large Grand Lawn and a 50m (Olympic-sized) Grand Pool. And of the 240 parking slots, there are 20 luxury ones big enough to accommodate supercars or cars with wide door openings.
American firm NBBJ designed the unique, curved glass towers. It is also the architect behind CDL’s other landmark development, the 1,111- unit The Sail @ Marina Bay. The two 24-storey towers house 174 spacious units, ranging from 1,184 sq ft two- bedders to the 7,287 sq ft penthouses.
03: GRAMERCY PARK
Address: 57 GRANGE ROAD
Starting price per square foot: $2,550 PSF AT LAUNCH (MAY 2016); $3,190 PSF IN 1H2018
Developer: CITY DEVELOPMENTS LIMITED (CDL)
Architect: NBBJ
With its freehold tenure and prime location just minutes away from Orchard Road, CDL’s Gramercy Park is a hot favourite among the well-heeled.
At least two units sold over the past year have the distinction of being among the most expensive in Singapore, in terms of absolute price. Both of these are five-bedroom penthouses that sprawl over 7,287 sq ft. One went for $21.86 million ($3,000 psf ), while the other was snapped up for $24.5 million or $3,362 psf.
(RELATED: Luxury Homes: Inside the multimillion-dollar Morgan Penthouse in Hong Kong)
Size – and the inherent luxury of space – is something that the development is known for. The entire estate sprawls over 15,718 sq m (170,000 sq ft). On its grounds are a large Grand Lawn and a 50m (Olympic-sized) Grand Pool. And of the 240 parking slots, there are 20 luxury ones big enough to accommodate supercars or cars with wide door openings.
American firm NBBJ designed the unique, curved glass towers. It is also the architect behind CDL’s other landmark development, the 1,111- unit The Sail @ Marina Bay. The two 24-storey towers house 174 spacious units, ranging from 1,184 sq ft two- bedders to the 7,287 sq ft penthouses.
04: THE NASSIM
Address: 18 NASSIM HILL
Starting price per square foot: $2,950 PSF AT LAUNCH (MAY 2016); $3,500 PSF IN 1H2018
Developer: NASSIM HILL REALTY (CAPITALAND)
Architect: W ARCHITECTS
The Nassim has attracted its fair share of positive media attention over the past two years. Of the 19 apartments that changed hands for more than $10 million this year, almost half were from The Nassim. The costliest of the lot fetched $19.6 million, or $2,776 psf. Last May, a 9,300 sq ft unit went for $25.57 million ($2,750 psf ), making it one of the priciest condos ever to be sold in Singapore. And in January last year, UOB’s chairman emeritus and banking veteran Wee Cho Yaw snapped up all 45 unsold units of the development for $411.6 million. The deal was made through his family’s private real estate firm, Kheng Leong.
With just 55 units of three-, four- and five-bedroom apartments, this prestigious freehold property in District 10 has another claim to fame: Its landscaping is designed by Shunmyo Masuno, an 18th- generation Zen priest who is the president of Japan Landscape Consultants. He is known for designing gardens inspired by ancient Zen traditions. His works include the Canadian Embassy in Tokyo, One Kowloon in Hong Kong and the Japanese Garden at the Marzahn Recreational Park in Berlin.
05: 3 ORCHARD BY-THE-PARK
Address: 3 ORCHARD BOULEVARD
Starting price per square foot: EXPECTED LAUNCH IN 2H2018
Developer: YTL CORPORATION (YTL)
Architect: ANTONIO CITTERIO PATRICIA VIEL
Malaysian conglomerate YTL is best known as a developer of luxury hotels and resorts in its home base. In Singapore, its portfolio includes luxury villa projects Kasara and Sandy Island on Sentosa Cove, as well as 3 Orchard By-The-Park, its first and highly anticipated residential development on the mainland, set to launch later this year.
With 77 units housed in three 25-storey buildings, this freehold project in prime District 9 sits within reach of the bright lights of Orchard Road, as well as the lush environs of the Singapore Botanic Gardens, a Unesco World Heritage Site. Residents can therefore enjoy the best of both worlds.
What also sets this exclusive development apart are the brand names associated with its architecture and design. Architect Antonio Citterio is the man behind Bulgari’s hotels and resorts in Milan, Bali, London, Dubai, Beijing and Shanghai. Meanwhile, its interiors are fitted with furniture by Armani Casa, which dresses some of the world’s finest hotels and private residences, including the Armani Hotels in Milan and Dubai.
Citterio’s vision is to create villas in the sky. The four- bedroom apartments will come with their own private swimming pools and lush gardens.
05: 3 ORCHARD BY-THE-PARK
Address: 3 ORCHARD BOULEVARD
Starting price per square foot: EXPECTED LAUNCH IN 2H2018
Developer: YTL CORPORATION (YTL)
Architect: ANTONIO CITTERIO PATRICIA VIEL
Malaysian conglomerate YTL is best known as a developer of luxury hotels and resorts in its home base. In Singapore, its portfolio includes luxury villa projects Kasara and Sandy Island on Sentosa Cove, as well as 3 Orchard By-The-Park, its first and highly anticipated residential development on the mainland, set to launch later this year.
With 77 units housed in three 25-storey buildings, this freehold project in prime District 9 sits within reach of the bright lights of Orchard Road, as well as the lush environs of the Singapore Botanic Gardens, a Unesco World Heritage Site. Residents can therefore enjoy the best of both worlds.
What also sets this exclusive development apart are the brand names associated with its architecture and design. Architect Antonio Citterio is the man behind Bulgari’s hotels and resorts in Milan, Bali, London, Dubai, Beijing and Shanghai. Meanwhile, its interiors are fitted with furniture by Armani Casa, which dresses some of the world’s finest hotels and private residences, including the Armani Hotels in Milan and Dubai.
Citterio’s vision is to create villas in the sky. The four- bedroom apartments will come with their own private swimming pools and lush gardens.
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