Lentor Modern prices starting price from $1,880 psf for preview on Sept 2

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Lentor Hills Residences condo floor plan

Lentor Modern GuocoLand’s new integrated development within the Lentor precinct will be launch for public previews on September 2. Based on the developer this is the first residential private condominium to be launched in the Lentor neighborhood in more than two years, and the only mixed-use integrated development in the region.

Lentor Hills Residences condo floor plan has a total site area of about 17,100 square metres (sq m) with a maximum Gross Floor Area (GFA) of 60,480 sq m. It is expected to house 595 residential units.

Therefore, Lentor Modern is targeted to change the neighborhood. “We are proud to be an developer who is able to identify opportunities, then visit the location, and later transform the place,” says Cheng Hsing Yao GuocoLand’s CEO. GuocoLand.

Set on located on a 1.7ha site, Lentor Modern is a 99-year leasehold project that comprises three 25-storey residential towers that comprise 605 apartments. The towers are located over an area of 96,000 square feet that will house an 12,000 square foot supermarket as well as a 10,000 sq ft childcare center, as well as F&B and retail options. It will also be connected into Lentor MRT Station on the Thomson-East Coast Line.

Lentor Modern offers residents a range of amenities that are within access, according to Dora Chng, general manager (residential) at GuocoLand. “Just by getting the lift off of their home, they can get to Lentor Modern’s MRT station, walk to the cafe or drop their children off at the childcare center and then go to the grocery store to stock their pantry shelves and much other things,” she says.

The Residences in Lentor Modern will include one-bedroom units of 527 square feet, two-bedroom units measuring 678 sq ft. to 732 sq feet and three-bedroom units that range between 969 and 1,130 sq feet as well as four-bedroom units of 1,528 square feet. Three- and two-bedroom units are the most popular of the units, with the rate of 231 rooms (38%) and 248 units (41%) respectively.

Prices will begin at $1,880 per sq ft. A one-bedroom apartment starts at $1.088 million and a two-bedroom one from $1.388 million and a three-bedroom unit starts at $1.878 million, and a four-bedroom apartment starting from $2.918 million. The sales bookings are scheduled to start on September 17.

The two- and four-bedroom apartments in Lentor Modern will include a “flex room” where residents can modify to meet their specific preferences, like making it into an office at home or a walk-in closet or a storage space. Each unit will also include appliances from Smeg, as well as bathroom wares from Hansgrohe as well as Roca.
A sanctuary inspired by nature
One of the most important features at Lentor Modern will be interconnected water bodies with a 200m length. This pays tribute to the freshwater stream that was once be present within the site. The water bodies are a part of the garden pavilions and the pavilions located on the 4th floor.

Other facilities include the 50m and 25m lap pool, a relaxation pool, jacuzzi and spa pool Two signature lawns and tennis court. The Grand Clubhouse offers two functions rooms, an office lounge, dancing studio, and games room. The outdoor and indoor gyms satisfy the needs of all types of fitness. Many dining areas and pavilions offer residents entertainment areas as well as study/working areas. Unique features include glamping tents and an allotment gardening area for those who want to exercise the green fingers.

A sky club located on the 14th level of each residential tower provides an environment that is open for relaxing and relaxing. It will have two dining areas, two natural-ly ventilated work spaces, and a club lounge that is air-conditioned.

Lentor Modern is targeted for completion by 2026.

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Private housing resale prices up 1% from the 1.2% m-o-m growth recorded in June

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Lentor Hills Residences condo price

The Singapore Residential Price Index (SRPI) rose by 1% per month in July, but it slowed down over that 1.2% m-o-m growth recorded in June Based on estimates from flash data that were released on the 29th of August.

Lentor Hills Residences condo price is equivalent to S$1 060 per square foot per plot ratio (psf ppr).

The SRPI which is monitored by the Institute of Real Estate and Urban Studies (IREUS) located at NUS. National University of Singapore (NUS) is a measure of price fluctuations of residential private properties located in Singapore. In particular, the index tracks 759 residential residential projects owned by private individuals which were completed between the month of October 2003 between September 2021 and October 2003.

Prices for properties which exclude small units and small units, across each of the Central and non-Central regions have seen m-o-m growth. The most desirable properties located in central areas of the Central region, which are located within Districts 1, 4, and 9-11 and 9 through 11, recorded a one% increase m-o-m during July, less then those who saw a 1.9% increase recorded in June. However, properties in non-Central areas were able to record an 1.1% increase m-o-m, more that those who experienced 0.8% growth logged the prior month.

In contrast, the prices of small properties were able to record an 0.6% increase m-o-m in July, in contrast with an increase of 0.1% 0.7% increase that was recorded in June. IREUS define small units as those with the floor area of 506 square feet or less.

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The M is 93.5% sold at a median price of $2,758 psf for it’s 522-unit

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Lentor Hills Residences at Yio Chu Kang

Wing Tai Holdings has reported earnings of $140.2 million in FY2022 that ended in June. This is which is 222% over results of $43.6 million for FY2021. The increase was due to the company’s earnings for 2HFY2022 in the amount of $86.4 million. This was a change from the $13.2 million loss in 2HFY2021.

Lentor Hills Residences at Yio Chu Kang location is perfect for singles, couples and family-oriented individuals looking for spacious housing in a lush setting.

In the course of time, Wing Tai’s earnings increased by its greater percentage of the profits of associated or joint venture (JV) companies.

In FY2022, the company’s share of profits from joint venture and associate (JV) businesses rose by 209% over the course of the year to $112.2 million. This was mostly due to more substantial contribution of Wing Tai Properties Limited in Hong Kong as well as Uniqlo in Singapore and Malaysia.

In the 2HFY2022, the company’s share of profits from JV and associate companies stood in the range of $90.7 million, a difference from its loss share of $2.2 million during the exact same timeframe the year prior. Earnings per share was 16.62 cents on adjusted basis for FY2022.

The total revenue for the fiscal year FY2022 grew by 12% year-on-year to $514.6 million, mostly because of the greater contribution from the development properties and, in particular, the sales recorded as progressive by Middle Road’s M located at Middle Road and the additional units that were sold in Le Nouvel Ardmore in Singapore.

On May 20, 2022 Wing Tai entered into an agreement for the purchasing of Lakeside Apartments along Yuan Ching Road in Jurong for $273.9 million. The leasehold site is located on an size which is 12,465.4 sq.m. ((134,178 sq feet). The purchase is subject to approval by the Strata Title Board and the Land Dealings Approval Unit of Singapore Land Authority. Wing Tai is planning to develop the site for residential property development that is available for purchase.

Then, in Australia, Wing Tai acquired the remaining 50% part of the freehold office building located at 464-466 St Kilda Road, Melbourne, Victoria, from its joint venture partner for A$49.4 million. Following the closing of the purchase, the company now owns 100% of the property.

The cost of sales increased by 26% year-over-year up to $350.0 million, and gross profit dropped by 10% over the same period at $164.6 million. Other gains were down 7% in a year in the range of $11.0 million. Operating profits fell by 11% year-over-year up to $62.3 million.

The company has declared a one-time and final dividend in cash of 3 cents, as well with an additional payout of three cents in FY2022. It is one cent more than the FY2021 dividend, which included a final and first dividend of three cents, as well as an extra payout of two cents.

In the future, the company predicts that the property cooling measures to begin in Dec. 2021. increasing interest rates, the higher inflation and geopolitical instability to impact purchasing decisions for residential properties located in Singapore.

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Six new luxury hotels including LXR Bali to open in Asia Pacific

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Lentor Hills Residences by Guocoland Hong Leong

The global hospitality giant Hilton is adding six brand new luxurious hotels to its portfolio within Asia Pacific (Apac).

Lentor Hills Residences by Guocoland Hong Leong district 20 property, is located in one of the most attractive areas exclusively set for residential.

Two hotels that are being built, inside the Chinese cities of Xi’an as well as Shanghai city, are set to operate operated under the Waldorf Astoria Hotels & Resorts brand. It will be making their Malaysian as well as Australian debuts with properties located in Kuala Lumpur and Sydney, respectively.

The remaining hotels include the Conrad Hotels & Resorts property in Nagoya, Japan, and an LXR Hotels & Resorts property in Bali, Indonesia, which will be the first hotel to fall under the brand name in Southeast Asia.

The addition of these hotels boosts Hilton’s supply of luxurious hotel rooms located in the Apac region by 20. The hotels are scheduled to be open between 2023-2026.

Clarence Tan, Hilton’s senior vice president of development, Asia Pacific, highlights that Hilton is the fastest-growing hotel group within the Asia Pacific region. “Our recent announcements and our strong pipeline show the trust the owners developers as well as investors put in Hilton to meet the growing demand and earn high return on investment in Apac’s top places,” he says.

In addition, Nils-Arne Schröder Hilton’s vice president of Luxury, Asia Pacific, notes the region’s premium travel market is expected to grow during the post-pandemic period. “The future of the luxury travel industry in Asia Pacific is more exciting than ever because our luxury brands continues to explore new markets and raise the standard of luxury hospitality to new levels,” he says.

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For sale is a two-storey freehold coffee shop along Jalan Besar

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Lentor Hills Residences new launch

A two-storey, freehold coffee shop situated in Hoa Nam Building on Foch Road in the Jalan Besar district is to auction through the expression of interest. According to the the marketing agency Savills Singapore, the property is listed for sale with the price range that is $28 million.

Lentor Hills Residences new launch is located in one of the most attractive areas exclusively set for residential.

The property is designated for commercial use and has the strata floor space of 4,510 square feet. The two floor of this property are equipped with F&B approvals. The ground floor is currently comprised in six food and beverage stalls as well as 1 drink stand. The upper level can be accessible through an internal staircase from the ground floor, or from an external ramp.

The property has a 40m frontage on Jalan Besar, and it is also accessible via Foch Road. The current owner also received approval by the MCST to put up signs on the facade of the building.
Hoa Nam Building is a mixed-use building that comprises retail, office, and residential units. It is walking distance of Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.

Sophia Lim, associate director of investment sales and capital markets for Savills Singapore, views the coffee shop as an attractive opportunity due to the limited availability of properties located on Jalan Besar. “Freehold coffee shop units have been seen as assets that can be passed down through generations and are typically held in a tight manner,” she adds.

Coffee shops within The Jalan Besar area are anticipated to profit from the buoyant F&B attitude that emerged from the pandemic. Likewise, the upcoming HDB Build-To-Order (BTO) developments within the Kallang-Whampoa Estate are predicted to expand Jalan Besar’s bessar’s captive population.

“With the recent sales in HDB leasehold cafes that have sold at high prices, this property presents a rare chance to purchase the freehold of a coffee shop with high visibility and a prominent frontage within the fast-growing area that is Jalan Besar,” Lim adds.

The exercise to express interest for the property is due to close on September 21 at 3pm.

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Telok Blangah House collective sale with a guide price of $92 million

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Telok Blangah House, a mixed-use freehold development located situated at 52 Telok Blangah Road, has been launched for collective sale through public tender at an estimated value of $92 millionwhich is less that the original $98million estimate when it first went up for auction in March.

It is a property comprises a 9-story building which is situated on the freehold site with a total area of 14,841 square feet. It is comprised of the levels for commercial buildings, and five levels of apartments for residential use. The site is classified for residential and commercial use in the new 2019 Master Plan, with an allowed net plot ratio of 3.5. This amounts to a maximum permitted Gross Floor Area (GFA) of 51,943 sq feet.

The guide price is now working into a land rate of $1,744 for each plot (psf ppr) with GFA bonus for balconies, says the exclusive market agent SRI Capital Market. SRI states that a development cost in the range of $2.36 million will be applicable to this bonus GFA only. The estimated price is based upon the site’s permitted gross plot ratio. assuming that 60% from the GFA is intended for residential purposes, and 40% is commercially-oriented.

According to SRI Based upon the split of 60:40 an upcoming mixed-use development could be able to house 34 new housing units and also 20.788 sq feet in commercial spaces.

Telok Blangah House is located on the other side of the road across the road from VivoCity and is approximately 200m to Harbourfront MRT Station on the Circle and North-East Lines. The site is sheltered and has a walkway that connects them to their station.

Low Choon Sin, managing partner of SRI Capital Market, says that the development planned for this site can benefit greatly from expansion of the Greater Southern Waterfront. “The site, which is situated just across Sentosa and will also benefit from the Sentosa Brani Master Plan that aims to steer the transformation of the two islands into a popular destination for tourists in the coming decades,” Low adds.

There are currently 415 condo units currently in an area of 500m from Telok Blangah House as per analysis conducted by EdgeProp LandLens. The most recent condo resales transactions within the region (excluding Telok Blangah Home) indicate units sold with an average price of $1,249 and $1,626 per square foot.

The tender process for public tenders to bid on Telok Blangah House will close on September 13th at 2.30pm.

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Pine Grove in Ulu Pandan Road District 21 is for sale at for $2 mil price

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A three-bedroom house in Pine Grove is on the market for sale at a cost of $2 million or $1,199 per square foot, in the owner’s offer. The property is located just off Ulu Pandan Road in District 21, Pine Grove is an 99-year leasehold condominium which was completed in 1984. Formerly a HUDC development with 660 units, the project is comprised of multiple blocks on an site that covers 893,000 square feet. The project was privatised in the late 1990s.

The unit that will go going up for auction on August 31 is in the upper echelon. It is comprised of 1,668 square feet, spread between two levels. “The building was upgraded approximately five years prior to the present owner,” says SRI Auction’s managing partner Mok Sze Sze, who is in charge of the auction. Based on caveats filed by the previous owners, the property was bought at $1.05 million ($629 per square foot) in June 2016.

The lower level houses the dining and kitchen area and the upper floor has a large living space which opens onto an outdoor balcony. The bedrooms are all on the upper floors and include the master bedroom that includes an en suite bathroom. The upper floor is also home to an area for families, a service balcony and utility room.

The amenities in Pine Grove include a swimming pool and barbecue area, a tennis court, basketball court as well as a function space, fitness center and mini-mart. The condominium complex also provides easy connection to Ulu Pandan Park Connector, that runs through the Sungei Ulu Pandan Canal and is connected with other estates such as the Ghim Moh, Clementi and Sunset residential estates.

Other facilities nearby are Clementi Mall, Ghim Moh Market and Food Centre, and Holland Village, all of that are within a brief driving distance from Pine Grove. The property is a great choice for families with children in school as it is close to Henry Park Primary School, Pei Tong Primary School and Singapore Polytechnic.

The owners of the units at Pine Grove have made a number of collective sales during the last few years. The most recent attempt came in the year 2019 when the project was opened for auction with the reserve price that was $1.86 billion.

Pine Grove is also located within the two Government Land Sale (GLS) sites -the Pine Grove Parcel A and Parcel B, both of which are 99-year leasehold sites. The auction for the latter was made in June to a joint venture 80/20 that was formed between UOL Group and Singapore Land Group (SingLand) that made a bid of $671.5 million ($1,318 psf/plot ratio) just narrowly beating the second highest tenderer Allgreen Properties by just $800.

The joint venture UOL-SingLand is planning to construct a residential development of 520 units in the Parcel A site. Based on the analysis of EdgeProp LandLens, the new project could go up for sale with prices of around $2,400 per square foot with that there is a developer profit margin at 15%.

In the meantime, Pine Grove Parcel B is in the GLS Reserve List. The 269,520 square feet site could yield 565 units.

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A record of $1.13 bil PATMI posted by CDL from divestment gains and deconsolidation of CDLHT

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City Developments Limited (CDL) has posted record earnings , with net profits after tax and non-controlling interests (PATMI) at $1.13 billion during the first quarter of FY2022 which ended June.

The half-year’s earnings are an improvement of that $32.1 million deficit experienced in the first half of the year 2021. This is also the most PATMI recorded since the company’s beginning at the beginning of 1963.

The record-setting PATMI was mostly due to the divestment profits from the sale of CDL’s Millennium Hilton Seoul and its adjacent site site to the value of 1.1 trillion won ($1.25 billion) and the gains from deconsolidation of CDL Hospitality Trusts (CDLHT) as part of the group, resulting from the distribution of the form of specie.

It was sold off the Millennium Hilton Seoul and its adjacent site site has been completed by February. It was the time to deconsolidate CDLHT was completed in May.

In the first half of FY2022, the company’s revenue grew to 23.5% y-o-y to $1.47 billion, thanks to contributions from its property development segment in addition to the larger contribution from the operation segment for hotels.

The recovery in the hospitality sector, fueled by the opening of the border as well as the relaxed travel restrictions which saw CDL’s revenue per room (RevPAR) increase up 110.4% to $113.60. CDL’s gross operating margin (GOP) rose by 12 percentage points year-on-year increasing to 24.7% in the 1HFY2022.

In the first half of the year, the CDL’s property development division made up 41% of the overall revenues, supported by projects that are well-sold in Singapore like Amber Park and Irwell Hill Residences and overseas projects like Shenzhen Longgang Tusincere Tech Park and New Zealand land sales. This figure does not include revenues of joint venture (JV) projects like Boulevard 88 and CanningHill Piers that are equity-based.

Profit before tax for 1HFY2022 was $1.58 billion, which is up 163.4 times over $9.7 million reported in the first half of 2021 due to divestment profits from Millennium Hilton Seoul. Millennium Hilton Seoul and its land site. The hotel group realized an income before tax of $911.5 million, and an overall gain on the disposal $526.2 million, after deducting tax and transaction costs.

The company also realised the benefit in the amount of $492.4 million, which comprises negative goodwill, resulting from the accounting deconsolidation CDLHT within the group as an affiliate. The group will recognize its involvement with CDLHT by naming it an associate.

The three main segments of the group, property development, investment properties and hotel operations also saw growth y-o-y on a comparable basis.
Earnings per Share (EPS) during the 1HFY2022 was 118.3 cents on completely adjusted basis. The company’s Net Asset Value (NAV) per share was at $10.18.

At June 30 the cash equivalents and cash totaled $2.05 billion.

As a result, CDL has declared a special interim dividend of 12.0 cents per share for the 1HFY2022, to be paid on September 9.

“Notwithstanding the uncertainty in the macroeconomic environment The company remains hopeful in the likelihood that economic growth will rebound with greater strength. The record profits of the group during the first half of FY2022 has led to an enormous flow of cash due to timely asset divestments” is the executive chairman of CDL Kwek Leng Beng.

The CDL’s business is booming in its hotel operations segment Kwek predicts that the hospitality segment of the company to be an “star performer” throughout the remainder this year.
“As the Covid-19 issues diminish the hospitality portfolio of our company will prove to be an effective growth engine that will contribute significantly to the group’s ongoing earnings,” he adds.

He goes on to say: “Property investment, when considered from a medium- to long-term perspective of value appreciation is a proven insurance against the effects of inflation. Apart from creating a robust development pipeline and a strong pipeline of development, the company will maintain its attention on enhancing the recurring income streams we earn.”

Sherman Kwek, group CEO of CDL states, “Our expansion into the living industry over the last few years has begun to show results as we build the scale of our operations and expand. We have now apartment rental sites throughout all of the UK, Japan, Australia and the US as well as recently completed our first specially-designed student accommodation facility within the UK. Through the entire flu epidemic the recurring income assets have demonstrated a strong resilience, and the outlook remains optimistic.

“Armed with a strong balance sheet and a geographically diversifying portfolio, the company’s solid fundamentals will allow us to handle the volatility of the near term with determination and discipline. If the right time comes we will be able to extract benefits from our portfolios through restructuring, repositioning and divestment projects,” he adds. “Despite the current challenges our company is still geared towards growth , but we will be selective when we acquire. The company is constantly refining the Growth, Enhancement and Transformation (GET) strategy to speed up growth and ensure the future of our company.”

Shares of CDL traded 5 cents higher (or 0.61% up at $8.25 on the 10th of August.

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Sutton Place launches $285 mil freehold collective sale bid

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Sutton Place’s owners Sutton Place, an apartment development with 44 units located at 24and 26 and 28 Farrer Road, have launched an auction for the collective sale of the development’s freehold. The property is expected to fetch an estimate of $285 million. this sale is promoted by Colliers.

Set in the heart of District 10, Sutton Place is a residential development with five floors that comprises 44 units. Sutton Place is located over an elevated, 93,183 sq feet area. It is a site is zoned residential and has an allowed total plot area ratio of 1.6 according to the most recent Master Plan.
According to Colliers The site has a baseline for development of 130,201 square feet, roughly the 87% of the permitted GFA. (GFA) that will protect any increases in development cost rates for potential developers.

“Based on the estimated price of S$285 million, and an development fee of around $20,886,880, this could translate to an average land value of $2,052 per square foot for each plot ratio, also known as ppr.” states Tang Wei Leng, managing director and head of capital markets and investment services in Singapore for Colliers.

She says she believes that the prospective owner can develop the site into a residential 162-unit development with the minimum unit size being 915 square feet. Colliers has confirmed that an application feasibility study prior to the submission of a proposal does not have to be done by LTA in the event that the site is developed into a 162-unit project.

“In addition to seven% extra GFA as part of the Balcony Incentive Scheme for prospective developers can boost the GFA up to around 159,531 sq feet. After adding the development fee of $32.4 million, which will increase the overall GFA The land cost will further be reduced to $1,990 psf per acre,” says Tang.

Sutton Place is close to the renowned Holland Village neighbourhood and is also surrounded by other top residential developments within the Farrer Road region along with a variety of good Class Bungalow Zones.

Schools in the area are Nanyang Primary School, Raffles Girls’ Primary School, Hwa Chong Institution, and National Junior College. In addition, there are amenities in the vicinity of Holland Village and Dempsey Hill. Farrer Road MRT Station in the Circle Line and the Ayer-Rajah Expressway connects other areas of Singapore.

Sutton Place is close to many new projects within the region that are being developed as the result of a group sale. The road that runs across of Sutton Place is the former Tulip Garden, for which Colliers brokered the deal at $906.8 million in the year 2018. The garden is currently being transformed to become Leedon Green.

The close-by Hyll situated on Holland is an expansion of the earlier Hollandia and Estoril properties, which were bought for $183 million and $224 million in 2018 in addition to Sutton Place is the former The Wilshire which was sold for $98.8 million in 2018.

The tender for the collective sale of Sutton Place will close on September 15.

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Koh Brothers managing director and CEO reports a gradual recovery in construction activity since last year

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Koh Brothers Group has reported earnings of $5 million in the 1HFY2022 that ended in June. This is which is up by 151% over the previous year’s $2 million.
The revenue in the same time period increased by 13% year-over-year to $158.9 million because of higher revenue recognition from its real estate and construction business.

In addition, with an increase in construction activity due to the outbreak and the company’s report of an operating profit of $11.7 million, an increase of 43% year-over-year. The gross margin grew by 7.4% from 7.4% from 5.8% in the 1HFY2021.

Koh Brothers enjoyed other gains of $7.9 million in the sales of property as well as plant and equipment. The gain was partly offset by the less fair value gains from investments properties.

At the end of June the balance of cash and bank accounts were $103.9 million. Current ratio of 1.7x with a net gearing ratio of 0.8x.

Francis Koh, the company’s managing director and group CEO, says there’s been a slow recovery in construction activity from last year.

“We remain focused on increasing productivity through embracing the latest technology and innovations, as well as adopting cost discipline and financial management strategies to tackle challenges better due to an environment that is competitive, labor shortages, energy consumption and the cost for construction.” He says.

“We will continue to draw on our track record of success and know-how to bid for larger and more valuable construction projects, as demand for both private and public construction projects increases,” adds Koh.

The company anticipates for the industry of construction to “remain difficult” due to increased competition, disruptions to supply chains human resource issues, rising material and energy costs.

Koh says that the sale of the Van Holland residential project continues to “make progress”.
“As an established, niche boutique property developer, we will continue to prudently look for opportunities to develop unique ‘lifestyle-and-theme’ projects, either independently or through partnerships with experienced partners,” he says.

Koh Brothers shares closed at 17 cents on August 5 the 5th of August, in the range of 4.43%.

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