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A freehold home situated on Fernhill Close in District 10’s prime area is up for auction for a price of more than $22 million, according to market agents Knight Frank. The two-story house is situated on a 7,386 square foot lot, and the minimum price for the property is $2,978 per sq ft.

Grand Dunman layout sits in a total suite area of 25,234.3 with a Gross Maximum Area (GFA) of 88,321 square metres (sq m).

It is situated in a three-storey mixed-landed property close to it is the Nassim Road Good Class Bungalow (GCB) area. The bungalow was constructed in the late 1990s and is located at the end of a cul-de-sac, with a large frontage of around 40m in Fernhill Close.

As per Knight Frank, the sale offers buyers to invest in redeveloping the site. The exclusivity of the neighborhood is enhanced because of its proximity to Nassim Road GCB area and other homes that are landed in Fernhill. Fernhill estate.

The property could be transformed into a new, luxury three-storey home or niche semi-detached houses subject to the approval of the appropriate authorities. It is also a great option for large families of multiple generations or extended families seeking to build a new house, according to Chia Mein Mein. director for capital markets (land as well as collective sales) in Knight Frank Singapore.

Based on URA conditions A record land value was just achieved in the area with three GCBs located at 42, 42A as well as 42B Nassim Road were sold at a price of $4,500 per square foot in April of this year. Cuscaden Peak Investments sold the trio for $206.7 million.

“With buyers still steadfast in their desire to purchase this elusive housing style in high-rise Singapore the sum in the region of S$1.4 billion in land homes was sold during the 1Q2023 period which is an increase of 28% growth from the prior one-quarter,” says Chia.

She says that demand in the landed property market is expected to remain strong, aided by the rising affluence of Singaporeans and new high-net-worth customers. “We expect a lot of demand from investors, homebuyers and developers due to the position of the property and its sought-after address, and the limited number of land-based homes to purchase in this area.”

The auction to sell this house is due to close on the 25th of July.

Koh Brothers Eco Engineering announced that its wholly-owned subsidiary Koh Brothers Building & Civil Engineering Contractor (KBCE), along and its joint venture partner LBD Engineering, has secured an $186.0 million construction contract with the Housing & Development Board (HDB) to construct the Kallang Integrated Development. part of Kallang Integrated Development. Kallang Integrated Development.

Grand Dunman showflat address is situated in one of the attractive neighbourhoods in Singapore.

The JVCo, a joint venture (JVCo) will participate in the construction of housing for the public, a covered bridge through Lorong 1 Geylang, and road construction works. For facilities in this development integrated the contract will comprise an installation of a childcare centre as well as future communal facilities as well as the construction of an environment deck (including the fire protection system at the bus stop). Additionally to this, JVCo will take part in the building of an interchange for buses, as well as improvements to and between the MRT station as well as the interchange for buses, as and landscaping work.

With the group’s 10% stake in JVCo the agreement will boost the order book of $684.6 million as of December 31, 2022. It will increase to $703.2 million, which will extend time to 2027.

Koh Brothers Eco’s Chief Executive Officer Paul Shin says: “We are thrilled to utilize our expertise in building to help support this unique integrated, public-private project located on the Kallang River, with close proximity to the Kallang MRT station. Our order book is healthy and secured with this joint venture and the ongoing mechanical, electric as well as instrumentation control (MEICA) project at the Tuas Water Reclamation Plant, that will provide regular, ongoing maintenance income following completion in 2025. The company will draw on our extensive experience in civil engineering and construction to capitalize on the growing demand from the public sector.”

Koh Brothers Eco shares Koh Brothers Eco closed at 3.3 cents on 13 June.

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With its fortress-like, imposing facade and main entrance with its fortress-like facade, the Surbana Jurong campus looks like the home of an iconic Marvel superhero. It doesn’t even hint at the impressive glass atrium and the indoor garden within. The new headquarters for the state-owned consulting firm for urban and infrastructure was created with the help of Safdie Surbana Jurong, a collaboration between Safdie Architects (immortalised by the designs of Marina Bay Sands and Jewel at Changi) and Surbana Jurong.

Surbana Jurong Capital, the investment division of Surbana Jurong, developed the campus using 100% in-transit funding from M&G Real Estate. A develop-and-lease contract was signed by both parties based on a deal that was valued at 400 million dollars in the month of January. The campus was estimated at $426million as of close of March.

In the development-and-lease contract, Surbana Jurong is the master lessee for the entire campus. “We have a lease for 30 years agreement with Surbana Jurong,” says Richard van den Berg, M&G Real Estate Asia Property manager of the fund. “They will initially lease a portion on the property, then expand into the structure, and sublease the remaining.”

M&G Real Estate is the property investment division of the London-based M&G, a leading global investment manager that is listed at the London Stock Exchange since its merger with Prudential in October of 2019. By the end of December 2022 the total amount of assets managed by M&G Real Estate amount approximately GBP32.8 billion ($55 billion).

Maiden Business Park investment
Its Surbana Jurong campus marks M&G Real Estate’s very first business-park office development in Singapore. The sprawling 742,000 square feet campus includes 10 blocks ranging from five to seven stories comprising 487,200 square feet of commercial park space with 22,000 sq ft of F&B, a childcare centre as well as a clinic. There are 27,480 square feet of gardens inside as well as 114,200 square feet of gardens with outdoor landscaping that connect to the Jurong Eco-Garden. Once fully operational the campus can cater to the needs of 3,000 employees.

Equipped with solar panels with smart lighting, as well as underfloor air distribution systems, it has earned it the BCA Green Mark Platinum certification for the designation of a Super Low Energy Building, the most sustainable and energy efficiency rating. The project was granted its permanent occupation license in April.

The campus is located on a 308,923 square feet greenfield site The campus is the most prominent creation of Jurong District Eco-Garden in the CleanTech Park as well as a an integral part of Jurong Innovation District, an area of excellence for businesses that specialize in modern manufacturing, urban solutions and intelligent logistics.

It is “well-positioned to take advantage of government-led initiatives that aim to build high-value industries in the new business district” van den Berg says. van den Berg.

From car parks to business parks showrooms
In October, M&G Real Estate acquired four showrooms for cars located in Singapore by acquiring Jardine Cycle & Carriage (Jardine C&C) through an agreement for sale and leaseback. The annual revenue is estimated to be $25.9 million over in the coming 10 years. M&G Real Estate was selected “through the bidding process of a competitive bidding” and together with CBRE acting as marketing agents.

The value of the total transactions in the Cycle & Carriage portfolio is $333 million, as per caveats filed by URA Realis on Feb 14. The four properties are the Jardine C&C’s 1200,057 sq feet of regional offices in 239 and 241 Alexandra Road ($142 million) as well as 7-storey Mercedes Benz Centre at 301 Alexandra Road ($131 million) as well as the 356,803 sq ft industrial complex located at 209 Pandan Gardens ($46 million) in Jurong and a two-storey building in Pandan Loop ($14 million) situated off the West Coast Highway.

The regional headquarters of Jardine C&C located at 239 and 241 Alexandra Road sit on sites that are zoned to be multi-user facilities with a 99 year lease beginning in 1956. In addition, the Mercedes Benz Centre has a 99-year lease that began in 1948 and an annexation of a single-user factory. The property located at Pandan Gardens is also zoned to be used as a single user factory. The facility has an agreement for a lease of 30+30 years beginning in 1978. The factory for single-users at Pandan Loop has a 30+30 year lease beginning in 1979.

“The Cycle & Carriage portfolio offers diversification and an impressive income, with an annual increase over a long lease with an excellent lease,” says van den Berg. Van den Berg adds that purchasing this portfolio in the context of M&G’s core property approach “makes sense in the long-term” particularly in the current market uncertainty.

Suburban retail mall that integrates with transportation hub
A little more than 15 years ago, prior to the signing of its agreement in 2002 with Surbana Jurong and Jardine C&C, M&G Real Estate took an 81.01% stake in the Compass Point. It was formerly Compass Point In 2002. It is located in Sengkang the mall is among the first suburban retail malls that are part of a mixed-use project that is also transportation hub.

In December of 2015, M&G Real Estate became the sole owner of the mall following the acquisition of the 18.99% stake from developer and joint venture partnership Frasers Property for $80.3 million. It invested $60 million over the course of an 11-month renovation and then it reopened it in the month of September of 2016 under the name Compass One. The new shopping center boasts an expanded net lettable area of 272,881 sq feet (from 269,546 sq feet previously) and 208 stores (up from 126 stores prior to).

“Compass One has been a good performer in the strategy (fund), both from a standpoint of income and total return,” says van den Berg. “With 100% ownership stake in Compass One, we do not have any plans to expand the amount of exposure we have to Singapore retail] more.”

Conservative attitude
In the year 2022 to January, the M&G’s primary strategy fund is investing US$1.8 billion ($2.43 billion) in total assets across Asia Pacific. It has primarily focused on five markets: Australia, Hong Kong, Japan, Singapore and South Korea.

“The lessons we can learn from the last few weeks is that there is no one market invulnerable to the effects of inflation and interest rate tensions” Van den Berg told van den Berg. Therefore, M&G Real Estate has taken a more cautious approach to managing its debt levels as well as covenant clauses.

“We started off early by refinancing loans that were already in the process and they have a typical maturity of about 4 years” He adds. “Only some loans are scheduled to mature over the next year. We’ve also added rate of interest hedging. We are now about eighty% of our portfolio of loans.”

Despite the challenges of increased rate of interest, inflation compression of cap rates as well as supply chain inefficiencies and trade the real estate market has been relatively unaffected because of the region’s rapid economic growth, claims van den Berg.

In the last two years, M&G Real Estate has expanded its reach to the logistics and residential areas within the region. It has also been selectively improving the high-quality of its office portfolio.

“As an investor with a long term view, we think that businesses are expected to stabilize throughout Asia Pacific, especially since we are experiencing a rebound in global and regional supply chain efficiencies and trade,” he adds. “As an essential part of our strategy, we invest in sectors that have an established track record and a high level of liquidity both in the up- and down market.”

Multi-family assets in Japan
Van den Berg is optimistic about the durability of the logistics industry in Asia Pacific over the long time. “Logistics are expected to gain from a steady increase in e-commerce and is aided by the growth in population and significant infrastructure and transport investments,” he asserts.

In January, M&G Real Estate Asia become a majority shareholder of fully leased ESR Ichikawa Distribution Centre in Ichikawa City, located in the Greater Tokyo Bay Area. M&G Real Estate acquired a 33.3% stake in the 2.165 million sq ft modern logistics facility at JPY34 billion ($329 million) and increased their stake by 25% in 2021 to% by 2021 and 58.3% today.

In the current climate of rising inflation and interest rates, M&G Real Estate has to shift its portfolio in order to provide expansion and protection from inflation. “Historically when we are in a time of healthy wage growth and a healthy inflation rate the multifamily industry tends to perform good,” claims Regina Lim director of property research Asia, M&G Real Estate. “Hence we are fond of the market of residential rentals due to its durability with low vacancy, and steady rent growth.”

The largest portfolio acquisition in the multifamily industry was the purchase of 30 residential assets located in Japan’s major cities, including Tokyo, Osaka and Nagoya from Blackstone in March 2022. The purchase price total for the portfolio comprising 1,575 units was JPY49.2 billion. The acquisition significantly increased the value of M&G Asian Property fund’s total assets in this sector to JPY109.3 billion.

The firm’s previous multifamily transactions within Japan included the purchase of a collection of residential properties situated in Chiba, Fukuoka and Osaka for US$83.7 million. It also included the purchase of two Osaka residences in May 2021 for $50 million.

“The market for residential rentals in Japan is well-established, and we’ll continue to be a part of Japan,” says Lim. “The other market that is growing is Australia’s build to rent (BTR) sector which We have invested into and will continue to invest in.”

It is a good idea to invest in a rental of built-to-rent properties in Australia
M&G Real Estate expanded its residential rental portfolio in Australia from April 20, 2022. It has committed the sum of A$450 million ($404 millions) to an arrangement together with Australian developer Novus to acquire 95% stake in the Novus Build-to-Rent Trust. The trust will build an array of multi-family properties located in important Australian cities, with a particular focus particularly on Melbourne as well as Sydney.

The trust is funded by an apartment building of 173 units located in the Melbourne’s Arts area, Novus on Sturt. The investment was done on behalf of M&G Realty Estate’s Asia Property Fund.

The built-to-rent market for residential properties within Japan and Australia are “a excellent risk-adjusted return” according to van den Berg. Van den Berg also believes in an “emergence of residential leases” in other regions.

Rate hikes for policy across Asia Pacific have been less significant than those in the US however, markets such as Australia as well as South Korea have been more robust, with rate hikes between 300 and 225 base points in the last year, according to Lim. “However the value of real estate have been able to weather this storm.”

According to Lim Lim, rate increases that are taking place in South Korea could lead to the possibility of investing in residential rentals. In the past the apartment units were built in South Korea were sold off-plan like Singapore, Hong Kong and even Australia. “But this trend is becoming dispersed, partly due to the increased prices of borrowing,” she says.

As developers from South Korea unable to pre-sell their residential properties, some might have refinancing problems. The growing inventory of unfinished and unresold stock could represent “an possibility to purchase and lease them out over the next 12-24 weeks”, Lim reckons. “This is very similar to the way in which the BTR sector began with the BTR sector in Australia.”

‘Strategic calls’
The market for residential rentals of Singapore has become “too little”, Lim laments. “Most Singaporeans and permanent residents are enticed to purchase property due to the fact that CPF funds Central Provident Fund (CPF) can be used to finance a mortgage payment and home purchase,” she adds. “CPF can’t be used to pay for rent payment. Therefore, the market for residential rentals isn’t sustainable.”

Another issue could be the Singapore government’s regulation measures to help stabilize the market for housing. “They do not want prices to increase over the course of a short period,” says Lim. “As an investor who invests for the long term we’ll be cautious when it comes to markets that have many interventions.”

The current uncertainty over the length of time that interest rates remain elevated has led to differing opinions among buyers and sellers of assets. “Even even though we have the funds to purchase and deploy assets however, we wouldn’t wish to purchase in the wrong moment; sellers who are looking to dispose of assets are cautious since they do not want to sell at a right moment,” says Lim. “This uncertainty can cause a mismatch between buyers’ and sellers prices.”

As per van den Berg, M&G Real Estate has made “several strategically-oriented calls” at the beginning of last year. “They will direct our portfolio globally to be able to withstand these difficult times,” he says.

“M&G is dedicated to the development of Asia Pacific and in the five major markets of Australia, Hong Kong, Japan, Singapore and South Korea in which we have been extremely engaged,” he adds.

A freehold home located along Kew Drive, located off the Upper East Coast in District 16, was bought at $16.3 million. On the basis of a freehold site with 14,376 square feet that is $1,134 per square foot. Mey Lim, and Lawrence See of GCB Collective, a team of bungalow experts in Huttons Asia, brokered the deal. In terms of the absolute value it is the highest ever for a house within Kew. Kew estate, claims See.

Grand Dunman by Singhaiyi Group submitted the winning bid of $1.284 billion, equivalent to $1,350 per square feet per plot ratio (psf ppr).

Caveats filed show that the previous highest was the purchase of a bungalow located on Kew Drive occupying a freehold with an area of 11,857 sq feet in December of 2017. The property was sold for $10.55 million or $890 per square foot in the land area. The most recent sale for a detached house in the area occurred on January 13 2022, when a bungalow located on Kew Terrace with a land area of 4,496 sq feet was sold to the value of $3.58 million ($796 per square foot). Before this, a bungalow situated in Kew Drive with a land area of 8,279 square feet sold for $6.38 million ($771 per square foot) on January 6 2022.

The prior residents of the 26 Kew Drive have occupied the current six-bedroom, 6500 square feet property since it was constructed more than three decades ago. In March of this year the property was listed for sale through an auction exercise conducted by OrangeTee & Tie with a estimate at $18 million. The tender ended on April 14 and did not find an interested buyer.

The purchaser who purchased the property at the 26 Kew Drive had been searching for a land-based property in the vicinity for “quite an extended period of time” according to See. They had offered for the property one year ago for $16 million, however the previous owner did not want to pursue the sale at the same price.

The buyer then considered other land properties but was unable to locate an site which met their needs. “They love this property located at 26 Kew Drive] given its size and redevelopment possibilities and the fact that it’s near transportation facilities,” he says. The property is just a 4-minute walk away from the Upper East Coast Bus Terminal and less than a 10 minute walk from the soon-to-open Bedok South MRT Station on the Thomson-East Coast Line.

In order to get their preferred site the buyer who is Singaporean who is a Singaporean, offered an additional price that was $16.3 million. See the listing states that they intend to tear down the current property and build a brand new one completely from the ground up. Based on the URA’s Master Plan 2019, the site is slated for the development of a land-based property that can be three or more stories. It is situated at the end an cul-de-sac and elevated site will mean that the new residence will be able to see the landsland estate that surrounds it.

The property is located a short walk from Bedok Food Centre and a five-minute drive to Siglap Community Club located in Siglap Community Club, which offers retail services, such as an Sheng Siong Supermarket and an McDonald’s restaurant, and the Anytime Fitness gym. The 26 Kew Drive is also within a distance of 1km from Temasek Primary School as well as Temasek Secondary School.

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Two strata retail units in East Village in Bedok are being offered for sale for $10.4 million. A press release to announce that the deal was sold, Savills Singapore, the marketing agent, claims that the units are available for purchase either as a pair or. The price range for each one will be $5.3 million.

The ground floor units are fully F&B Approval and situated close to the mall’s entrance. Just 12 units of the total 108 in East Village have F&B approval According to Savills.

They will be offered under existing leases that have dedicated access points that give tenants the freedom to work outside of the mall’s regular working hours. Each unit comes with the strata size of 969 sq feet which includes an en-suite bathroom.

East Village is an open-air shopping mall that is freehold located on Upper Changi Road. It was opened on the 14th of July 2014 as a mixed-use development of four floors that houses 108 shops on the ground floor, and up to 90 apartment units in the top floors. There is a carpark in the basement in addition to a nearby open-air parking.

Yap Hui Yee who is the executive director of capital markets and investment sales Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, says: “Within the Bedok-Upper Changi region there are just three malls that are strata-titled: East Village, Bedok Shopping Complex and Eastwood Centre. East Village, which was completed in 2014 and offers the freehold tenure, is the newest of developments.”

She continues, “Given the palatable quantum and limited freehold tenures in this desirable Bedok area Two excellent units at East Village presents an enticing opportunity for investors to purchase to add to their portfolios.”

She anticipates a strong interest in buying on the units of two strata that will be received from both investors and end-users. They will be sold via an express of interest process that will close on July 20.