Month: February 2025

The most profitable transaction in the condo resale market was recorded at Mandarin Gardens during the week of Feb 7 to Feb 14, 2025. A 3,800 sq ft four-bedroom unit was sold for $4.88 million, or $1,284 psf, on Feb 11. The seller of the unit made a profit of $3.83 million, or 364.8%, from the original purchase price in June 2003. This translates to an annualised capital gain of 7.4% over a period of 21½ years.

This deal also breaks the record for the most profitable transaction at Mandarin Gardens. The previous record was held by a 3,068 sq ft four-bedroom unit on the 20th floor, which was sold for $4.1 million in September 2021, resulting in a profit of $2.7 million or 193%, over a period of 20 years.

Resale prices at Mandarin Gardens have remained stable since September 2023, when the average resale price per square foot of units at the condo surpassed $1,300, according to EdgeProp Singapore’s analysis tools. Prices peaked at $1,316 psf in June 2024, before slightly falling to $1,310 psf as of Feb 25.

The unit sold on Feb 11 is one of 18 four-bedroom units at Mandarin Gardens. The last four-bedroom unit sold at the condo was a similarly sized unit on the ninth floor, which was sold for $4.26 million ($1,122 psf) in June 2023.

Mandarin Gardens is a 1,006-unit condo with a 99-year leasehold tenure starting from 1982, located along Siglap Road in District 15. The condo spans 17 buildings, ranging from nine to 23-storeys tall. It consists of one- to two-bedroom apartments from 732 sq ft to 1,001 sq ft, and three- to four-bedroom units from 1,528 sq ft to 3,800 sq ft. The condo also houses 11 strata commercial units.

The second most profitable resale transaction during this period was recorded at Parvis, a freehold condo located along Holland Hill in prime District 10. On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor of the development was sold for $4.78 million ($2,115 psf).

The unit was last sold in December 2009 for $2.78 million ($1,230 psf). This resulted in a profit of $2 million (71.9%) or an annualised gain of 3.6% over a period of 15 years.

This makes the second-floor unit the third-most profitable transaction at Parvis. The most profitable sale at Parvis is currently held by a 2,605 sq ft, four-bedroom unit, which was sold for $5.4 million ($2,073 psf) in November 2022. The unit was previously bought for $3.21 million ($1,230 psf) in December 2009, resulting in a profit of $2.19 million (68.2%), or an annualised gain of 4.1% over a period of 13 years.

The Feb 10 unit is the second profitable transaction to take place at Parvis this year. The first profitable transaction took place on Jan 6, when a 2,788 sq ft, four-bedroom unit on the 12th floor was sold for $6.1 million ($2,188 psf). The seller had bought the unit for $4.25 million ($1,524 psf) in 2011, resulting in a profit of $1.85 million (43.5%) after 14 years. It is the fifth-most profitable transaction at Parvis to date.

Parvis is a 12-storey development comprised of 248 residential units. Apartments are a mix of two-bedroom units of 990 sq ft to 1,442 sq ft, along with three- and four-bedders from 1,701 sq ft to 2,605 sq ft. There are also three- and four-bedroom penthouses ranging from 2,293 sq ft to 3,229 sq ft.

Schools within 2km of Parvis include Henry Park Primary School along Holland Grove Road, Nanyang Primary School along Coronation Road, New Town Primary School along Tanglin Halt Road, and Queenstown Primary School along Margaret Drive. The condo is a five-minute walk to Holland Village MRT Station on the Circle Line.

The most unprofitable transaction recorded during this period was the sale of a two-bedroom unit at Scotts Square. The 947 sq ft unit on the 28th floor was sold for $3.08 million ($3,252 psf) on Feb 13. It was previously sold for $3.83 million ($4,039 psf) in December 2007, resulting in a 19.5% loss for the seller. This translates to an annualised loss of 1.3% over a period of 17 years.

According to EdgeProp’s analytical tools, Scotts Square has recorded 69 unprofitable transactions since its launch in 2007. Out of these, 18 (26%) resulted in a loss of seven figures. The most unprofitable transaction involved the sale of a 1,249 sq ft, three-bedroom unit, which was sold for $3.65 million ($2,923 psf) in February 2017. The sellers had bought the unit during its launch in August 2007 for about $5.21 million ($4,171 psf). This resulted in a loss of about $1.56 million (30%) over a period of 10 years.

The average resale price of units at Scotts Square has been trending downwards since its launch in 2007. Based on a 12-month rolling average, prices peaked at $4,054 psf in July 2007 before reaching a floor of $3,330 psf in August 2020. Last month, the average price of resale units at Scotts Square was $3,398 psf.

Scotts Square, developed by Wharf Estates Singapore, is a mixed-use freehold development located along Scotts Road. It consists of two luxury residential towers of 43 and 34 storeys with a total of 338 apartments and a four-storey retail podium.

Residential units at Scotts Square range from one- to three-bedroom units from 603 sq ft to 1,249 sq ft. The condo boasts amenities such as concierge services, a gym, a lap pool, and a sky pool on the 35th floor.…

Top new psf-price highs achieved in recent condo transactions

The sale of a two-bedroom unit at Hill House has captured the attention of the real estate market as it topped the list of private condos with a new psf-price high from Feb 7 to 16. The 999-year leasehold development located at the top of Institution Hill, off River Valley Road, saw a record-breaking peak price of $3,398 psf when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16.

This transaction has marginally surpassed the previous peak of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House, a 72-unit boutique condo launched in 2022, comprises of 40 one-bedroom units of 431 sq ft, 24 two-bedroom apartments ranging from 452 sq ft to 624 sq ft, and eight three-bedroom apartments spanning 753 sq ft.

The recent sale at Hill House has stirred up interest and led to a surge in enquiries for the latest New Launches. Interested buyers can search for the available units and transaction prices.

According to URA caveats, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf since its launch in November 2022. The development is currently under construction and is expected to be completed in 3Q2026. Eight units have been sold at Hill House since the start of the year, with an average price of $3,190 psf. Among these transactions is the most expensive unit sold so far at the development which is a 753 sq ft, three-bedroom apartment that was sold for $2.39 million on Jan 5.

The Tresor, a 99-year leasehold condo located on Duchess Road in District 10, came in second on the list of condos that achieved new psf-price highs during the period in review. A 1,421 sq ft unit on the fifth floor was sold for $3.73 million, setting a new high of $2,625 psf on Feb 10. This beat the previous psf-price high of $2,501 which was set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor was purchased for $3.5 million.

The resale transaction on Feb 16 is the first at The Tresor in a year, based on caveats lodged. The most recent resale deal at the condo was the sale of a 1,399 sq ft unit that fetched $3.5 million ($2,501 psf) on March 4, 2024.

Completed in 2007, The Tresor is a 62-unit development that comprises a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft.

Jadescape, a 99-year leasehold development that was completed in 2022, takes the third spot on the list with a new psf-price high of $2,459 psf set on Feb 7. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million, surpassing the previous record of $2,446 psf set in January.

The most expensive resale unit at Jadescape to date is a 4,230 sq ft, six-bedroom penthouse that was sold for $10.2 million ($2,399 psf) in December 2024. Located at the junction of Marymount Road and Shunfu Road, Jadescape comprises 1,206 units across seven residential towers. The development offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft.

Data compiled on EdgeProp Research indicates that Jadescape commands one of the highest average transacted prices among condos within a 1km radius. In the last 12 months, the average transacted price for Jadescape units stood at $2,192 psf. Other condos in the vicinity, such as the Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf over the same period. All three condos are freehold developments.

No new psf-price lows were recorded during the period in review. Interested buyers can check out the latest listings for Hill House, The Tresor, and Jadescape properties.…

Chiu Teng Group’s latest development, CT Pemimpin, is an exceptional investment opportunity for property investors and business owners in Singapore with its freehold status and prime central location. The nine-storey partial ramp-up factory comprises 56 strata-titled units and three canteen units, boasting a one-to-one carpark ratio and excellent accessibility. It also features end-of-trip facilities, green features, and a landscaped sky garden for a more sustainable future. With its strategic location in District 20, nearby amenities and excellent connectivity, CT Pemimpin is a valuable asset with enduring potential for growth. Don’t miss out on securing a unit – call 8100 8017 or visit Chiu Teng Group today!…

A pair of retail units at Sim Lim Square for sale at $1.86 milTwo strata retail units at Sim Lim Square on the market for $1.86 milBy ERA’s auction on February 27, a pair of adjacent retail units situated on the third floor of Sim Lim Square will be featured with a total guide price of $3.38 million.The bigger unit, covering an area of 958 square feet, is priced at $2.08 million (equivalent to $2,171 per square foot), while the smaller unit, spanning 570 square feet, is priced at $1.28 million ($2,246 per square foot). This owner’s sale marks the first time both units have appeared on ERA’s auction listings. The units can be purchased as a pair or individually. According to Alison Lee, assistant vice president of auction and sales at ERA, the units are competitively priced. “They are priced slightly below the market average to facilitate a quick sale.”Related article: Three-bedroom Gambier Court unit for sale at $2.64 millionThe analytical tool by EdgeProp Singapore indicates that the average transacted price for retail units at Sim Lim Square stands at $2,997 per square foot over the past year. The most recent transaction at the development was the sale of a 592 square feet shop on the ground floor for $1.92 million ($3,241 psf) in December 2024.Sim Lim Square has established itself as a technology hub, well-known for its wide array of electronics, gadgets, and computer parts (Photo: ERA)Lee also mentions that Sim Lim Square is renowned for being a technology hub. The development boasts an array of stores selling electronics, gadgets, and computer parts. It is also home to numerous other businesses, including eateries and traditional Chinese medicine shops.Both retail units up for sale are currently occupied, generating an estimated monthly rental income of $4.50 per square foot. Data from EdgeProp Singapore, based on a rolling 12-month average, shows that retail units at Sim Lim Square fetch between $4.20 and $7.30 per square foot in monthly rental income.The owners of Sim Lim Square put the development up for collective sale in April 2019 with a tender offer set at a reserve price of $1.25 billion. A subsequent relaunch for the purchase of the development was made in December 2019 at the same price, but no buyers were found.Plans for another attempt were made by a collective sale committee formed in 2022; however, it did not come to fruition. Lee confirms that a new committee is in the process of being formed and is looking into the possibility of another collective sale attempt in the near future.Completed in 1987, Sim Lim Square is a commercial development divided into strata-titled units along Rochor Canal Road in District 7. Built on a 78,152 square feet plot of land with a 99-year tenure starting from 1983, the complex boasts 492 retail and office units across six floors and two basement levels. It is situated within walking distance of Rochor and Jalan Besar MRT Stations, both of which are on the Downtown Line. In addition, the Bugis MRT Interchange connects the East-West and Downtown Lines.Browse the latest listings for sale at Sim Lim Square.…

after securing final approval

Mr Chong, a retiree, helped his three sons with some financial support when they were purchasing their homes. His eldest son bought a private condo, while his two younger sons bought executive condos (ECs). According to Mr Chong, buying an EC during a new launch is a smart decision. He says even if you buy shortly after the five-year minimum occupation period (MOP), it is still an excellent entry price.

Mr Chong has experienced both situations. His second son bought a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He wanted to buy a four-bedroom unit, but those were snatched up so quickly,” shares Mr Chong.

The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day of launch at an average price of $841 psf. The EC on Yio Chu Kang Road was completed in 2019. Based on caveats lodged in January and February 2025, the average price of units sold was $1,769 psf, resulting in a 110% price gain in eight years.

Mr Chong bought a four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands, in 2021. The EC was developed by a joint venture between Frasers Property and Lum Chang and was launched in 2013 and completed in 2016. The dual-key unit provides Mr Chong with privacy as he occupies the one-bedroom studio while his son and family occupy the three-bedroom apartment. As a dual-key unit, each apartment has its separate entrance, even though the main entrance is shared.

Mr Chong and his family purchased the unit at $1,000 psf, which was considered a new high at that time, but recent resale prices are even higher. According to Mr Chong, the latest transaction of a 1,206 sq ft, four-bedroom unit at Twin Fountains in February was $1.62 million ($1,344 psf). “Even though you may miss the boat, like my youngest son, and buy in at $1,000 psf, resale prices at Twin Fountains are now 30% higher,” adds Mr Chong.

Last October, City Developments launched the 348-unit Norwood Grand private condo at Champions Way in Woodlands. About 84% of the units were sold during the launch weekend at an average price of $2,067 psf, setting a new benchmark for Woodlands.

Mr Chong attributes the launch of Norwood Grand’s average selling price, which is 53.8% higher than the latest resale price at Twin Fountains, to the revival of interest in the northern region after the announcement of revitalization and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North.

Nevertheless, EC buyers now have to shell out a larger cash outlay due to rising EC prices and caps on loan quantum, according to Eugene Lim, key executive officer of ERA Singapore. For ECs, the monthly household income ceiling is $16,000. Buyers must meet the mortgage servicing ratio (30% cap) and total debt servicing ratio (55% cap) requirements if taking a loan. Furthermore, buyers must be Singapore citizens or permanent residents (PRs) after the five-year MOP, while foreigners are only allowed to purchase ECs in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP).

Assuming a 30-year-old EC buyer with a household income of $16,000 and a maximum loan tenure of 30 years, the maximum loan amount is approximately $1 million based on the 4% interest rate for mortgage servicing ratio (MSR) stress test, estimates ERA’s Lim.

According to Lim, despite the higher upfront costs, buyers are still interested in ECs because of their affordability and lower price per square foot (psf) compared to 99-year leasehold private condos in the same area. Aside from the lower price relative to new private condos, EC buyers do not have to sell their existing homes before purchasing, notes Lim. Furthermore, HDB upgraders do not have to pay additional buyer’s stamp duty (ABSD) when buying a new EC.

Moreover, EC buyers may choose the deferred payment scheme (DPS) at a slightly higher purchase price. Under the DPS, buyers only need to pay a deposit, with their loan deferred until after the completion of the EC. “This way, buyers do not need to service two mortgages while waiting for the new home to be completed,” reveals Lim.

According to Lim, there is demand for ECs in the market due to their affordability and lower price psf compared to 99-year leasehold private condos in the same location. He attributes the narrowing of the gap between median prices of new ECs and new private condos to the EC prices rising at a quicker rate of 9.6% from 2023 to January 2025, while non-landed home prices in the Outside Central Region (OCR) increased by 5.3% over the same period.

According to Christine Sun, OrangeTee Group chief researcher and strategist, the median price gap between new ECs and new private condos in the OCR has narrowed in the last few years. Based on data from URA Realis, the gap has narrowed from 49.4% in 2023 to 44.2% in 2024 and to 43.6% in January 2025. She believes that the gap will continue to narrow as new private condo median prices for this year may exceed $2,200 psf, as was the case in 2024.

OPINION: Why buying an executive condo is NOT a sure-win

New life revives Serangoon North Village

Hoi Hup unveils hotel at Royal Square at Novena after securing final approval

show flat of ARC380

Revamped SingPost Centre

The Flow@East Coast

Seletar Park Residence

Jui Residences

Kismis Residences

River View Residences

182, Fernvale Close

Marina One Residences

Kismis Residences

River View Residences

.

.

.

.

.

.

.

.

.

Mr Chong, please revise the following article.

The elderly retiree Chong provided financial assistance to his three sons while they were settling down in their new homes. His eldest son invested in a private condominium, and Mr Chong’s two younger children bought executive condos (ECs). According to Mr Chong, purchasing an EC during its launch phase is a wise decision. Even if one buys shortly after the five-year minimum occupation period (MOP), the entry price is still attractive.

Mr Chong has personal experience with both scenarios. His second son bought a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He wanted to purchase a four-bedroom unit, but they were quickly snapped up,” Mr Chong shares.

The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day at an average price of $841 psf. The EC located on Yio Chu Kang Road was completed in 2019. Based on caveats lodged in January and February 2025, the average price of units sold was $1,769 psf, showing a 110% price gain in eight years.

In 2021, Mr Chong and his family purchased a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The EC was developed by a joint venture between Frasers Property and Lum Chang and was launched in 2013, and completed in 2016. The dual-key unit provided Mr Chong with privacy as he occupies the one-bedroom studio while his son and family occupy the three-bedroom apartment. As a dual-key unit, each apartment has its own separate entrance, even though the main entrance is shared.

Mr Chong and his family bought the unit at $1,000 psf, which at that time, was considered a new high. However, recent resale prices are even higher. According to Mr Chong, the latest transaction of a 1,206 sq ft, four-bedroom unit at Twin Fountains in February was $1.62 million ($1,344 psf). “Even if you miss the boat, like my youngest son, and we bought in at $1,000 psf, resale prices at Twin Fountains are now 30% higher,” he adds.

In October last year, City Developments launched the 348-unit Norwood Grand private condo at Champions Way in Woodlands. Around 84% of the units were sold during its launch weekend at an average price of $2,067 psf, setting a new benchmark for Woodlands.

Mr Chong points to the launch of Norwood Grand’s average selling price, which is 53.8% higher than the latest resale price at Twin Fountains, to show the renewed interest in the northern region after the announcement of revitalization and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North.

However, due to rising EC prices and caps on loan quantum, EC buyers now have to pay a larger cash outlay, according to Eugene Lim, key executive officer of ERA Singapore. For ECs, the monthly household income ceiling is $16,000. Buyers must meet the mortgage servicing ratio (MSR) (30…

Singapore-based buyers favour luxury branded residences in nearby regions such as Phuket, Bali and emerging markets in VietnamWritten by C9 Hotelworks, a leading hospitality and real estate consultancy based in Thailand

The market for branded residential projects in Asia has reached a record high of US$26.6 billion in value, according to C9 Hotelworks, an Asia-based hospitality consultancy. This surge is attributed to the growing popularity of luxury branded residences, with over 68,000 units now available.

Leading the pack is Vietnam, with 17,680 branded residential units across 59 properties. These units have an average price of US$350 per square foot (psf). Thailand comes in second with 16,271 units across 65 properties, with a higher average price of US$510 psf. The Philippines also ranks high on the list, with 13,276 units across 46 properties priced at about US$400 psf.

Singapore, however, commands the highest prices in the region for branded residences, with an average of US$2,140 psf. It is followed by Japan, where prices are about US$1,935 psf.

Infographic: C9 Hotelworks

The market for branded residential projects in Asia is still growing, with new markets emerging. South Korea, for instance, has seen a rapid growth in the number of branded residential units in recent years, with 3,026 units across 16 properties. Malaysia also boasts 6,014 branded residential units across 24 projects.

According to Bill Barnett, managing director of C9 Hotelworks, urban-locale branded residences currently make up 56% of the market supply in Asia in the post-Covid-19 era. These luxury urban projects also dominate the sector in terms of market value. For instance, in South Korea, urban branded residences are priced at US$2,670 psf, which is significantly higher than resort projects that typically sell for US$1,040 psf. Similarly, in Thailand, urban branded residences have an average price of US$770 psf, while resort locations have an average of US$430 psf.

The data also indicates that branded residences affiliated with luxury hotel brands make up about 31% of the market supply, with approximately 12,330 units across 80 developments. According to Barnett, the data demonstrates that having a reputable brand attached to a property can help command a premium of 30%-35% above market rates in a particular country. It also helps developers gain a larger market share within that country.

The appeal of top hospitality brands and other luxury lifestyle brands has also resulted in an increase in licensing fees demanded by these brands. It has become common for luxury hotel and lifestyle brands to ask for a 6% to 10% cut in the sale of each branded residential unit, notes Barnett.

Last August, Thai developer Ananda Development and German automaker Porsche, through its lifestyle brand Porsche Design, announced the launch of the ultra-luxury Porsche Design Tower Bangkok in Thonglor. The 22-unit tower, set to be completed in 2028, is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami, which was launched a decade ago. The units are priced between US$15 million and US$40 million.

From left: Saowarin Chanprakaisi, vice-president of business development, The Ascott; Teo Junrong, vice-president of business development, The Ascott; David Johnson, CEO of Delivering Asia; Gianfranco Bianchi, general manager, Asia Pacific at The One Atelier; Jason Thelen, senior director of sales and marketing at Sudara Residences; Ananth Ramchandran, head of advisory and strategic transactions, hotels and hospitality Asia, CBRE; Lee Nai Jia, head of real estate intelligence of digital and software solutions, PropertyGuru Group and Bill Barnett, managing director of C9 Hotelworks. (Picture: C9 Hotelworks)

Gianfranco Bianchi, general manager for Asia Pacific at The One Atelier, a global design consultancy that specialises in branded residences for lifestyle brands, observes that in recent years, more and more luxury lifestyle brands have been exploring partnerships to license their branding for real estate developments across the Asia Pacific region. Some of the brands that One Atelier has partnered with include Fendi Casa, Dolce & Gabbana, Karl Lagerfeld, and Porsche Design.

Hospitality-affiliated branded residences offer top-notch hospitality services, while fashion or design-branded residences provide a rare trophy home that embodies the design and luxury aesthetic synonymous with these brand names, explains Bianchi.

Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, reports that cooling measures in the property market have resulted in a growing interest among high-net-worth Singapore-based buyers in branded residences located in nearby regional markets. “We have seen a significant reduction in discussions and inquiries from Singapore developers regarding high-end ultra-luxury branded residential projects in Singapore. The cooling measures have dampened demand for foreign buyers, and developers are hesitant to enter this high-end segment,” he says.

He also notes that luxury branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and emerging markets in Vietnam are becoming increasingly popular among Singapore-based buyers. These locations are just a two-hour flight away from Singapore, making them highly accessible. “The relatively short travel time and the availability of regularly scheduled direct flights make it much more appealing to Singapore-based buyers,” he says. In fact, last month, major airlines such as SIA, Scoot, AirAsia and Jetstar operated around 150 flights per week between Singapore and Phuket.

Jason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, concurs, noting that Singapore is now the top regional market for buyers seeking second homes, accounting for more than 45% of regional purchases. Saowarin Chanprakaisi, vice-president of business development at The Ascott, observes that in light of the potential for growth in the branded residential segment in Asia, the hospitality group is looking to expand its market share by partnering with developers who are keen to enter the branded residential market. The group’s portfolio includes brands such as Ascott, The Crest Collection, and Oakwood Premier.

According to Chanprakaisi, branded residential operators must build and maintain trust in their brand’s ability to deliver top-quality service that will ultimately translate into the long-term value proposition of the asset.…

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have signed a memorandum of understanding (MOU) to jointly develop selected freehold land in Iskandar Puteri, Johor. This marks the first collaboration between private companies from Malaysia and Singapore within the Johor-Singapore Special Economic Zone (JS-SEZ), according to a press release issued on Feb 27.

The MOU was signed at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for Iskandar Puteri. Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is a top destination for various sectors such as manufacturing, business services, education, health, and tourism.

If you’re looking to invest in overseas properties, check out the projects available for sale around the world. The MOU covers UEM Sunrise’s land in Gerband Nusajaya and Puteri Harbour, two key areas within Iskandar Puteri. The collaboration aims to unlock the potential of Iskandar Puteri and make it more attractive for investment by improving connectivity, fostering talent development, and creating a business-friendly ecosystem.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not just about development, but also about creating an end-to-end, future-ready economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem. The selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning Iskandar Puteri as a robust business and investment hub.

Datuk Hisham Hamdan, chairman of UEM Sunrise, stresses the importance of the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships in positioning Johor as a dynamic and forward-thinking economy. GuocoLand CEO Cheng Hsing Yao adds that the Singapore-listed property group will bring along its expertise in real estate development and asset management, as well as its understanding of the needs of companies from Singapore, Malaysia, and China that want to establish a presence in the JS-SEZ. Together, both companies will shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

UEM Sunrise has played a significant role in the urban development of Iskandar Puteri, having already launched several residential townships such as Aspira and Senadi Hill. The group has also developed commercial and retail hubs, with plans for a 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, including special tax rates, stamp duty exemptions, and capital allowances.…

Despite the Chinese New Year celebrations, there were notable resale transactions that closed from January 28th to February 4th. One of the most profitable deals was the sale of a 3,983 sq ft unit at the Palisades condominium for $4 million ($1,004 psf) on February 4th. The second-floor unit was originally purchased for $1.7 million ($427 psf) in August 2009, resulting in a profit of $2.3 million (135%). This makes it the most profitable resale transaction at Palisades to date with a 5.7% annualized gain over 15.5 years.

Previously, the highest recorded profit at Palisades was three years ago when a 3,294 sq ft unit on the eighth floor was sold for $3.4 million ($1,032 psf). The unit was purchased for $1.53 million ($465 psf) in 1996, resulting in a profit of $1.87 million (122%) or an annualized gain of 3.1% over 25 years.

There have been five resale transactions at Palisades over the past three years, all of which have been profitable. The range of profits has been from $650,000 when a 3,294 sq ft unit was sold for $3.8 million ($1,154 psf) on December 13th, 2022 to the latest resale with a record profit of $2.3 million.

Located on Pasir Panjang Road in District 5, Palisades is a freehold condominium that was completed in 1985 with 18 units. It is the only development in Singapore equipped with a funicular elevator.

Another profitable resale during the same period was at Ardmore II, where a four-bedroom unit was sold for $6.85 million ($3,385 psf) on February 3rd. The unit was originally purchased for $4.72 million ($2,333 psf) in November 2006, resulting in a profit of $2.12 million (45%) or a 2.1% annualized gain over 18 years.

According to caveated transactions listed by EdgeProp Singapore, resale prices at Ardmore II have been on an upward trend in recent years, increasing from around $2,623 psf in January 2015 to approximately $3,390 psf at the beginning of this year.

Ardmore II is a freehold luxury condominium situated on Ardmore Park in prime District 10. It is surrounded by other developments such as the Shangri-La Singapore hotel, Treetops Executive Residences, Ardmore Park, and Sculpture Ardmore. It is also in close proximity to Tanglin Road and the popular shopping district of Orchard Road.

On the other hand, the most unprofitable resale transaction during this period was the sale of a studio unit at Vida, a freehold condominium in prime District 9. The 527 sq ft unit, located on the 12th floor, was sold for $1.04 million ($1,972 psf) on February 4th. It was originally purchased for $1.15 million ($2,192 psf) in May 2009, resulting in a loss of $116,000 (10%) or an annualized loss of 0.7% over close to 16 years.

The most unprofitable resale transaction at Vida to date was a 840 sq ft unit on the 10th floor that was sold for $1.73 million ($2,061 psf) in August 2022. The unit was purchased for $2.33 million ($2,774 psf) in July 2007, leading to a record loss of $598,920 (25%) or an annualized loss of 1.9% over 15 years.

Based on caveats, resale prices at Vida have been declining in recent years, reaching a peak of approximately $2,277 psf in August 2015 and falling to around $2,058 psf last month.

Vida is a 137-unit condominium located on Peck Hay Road in the upscale Newton area. It was completed in 2009, making it 16 years old. The development offers a mix of studios, one- and two-bedroom units ranging from 506 sq ft to 883 sq ft. Other nearby condominiums include Orchard Scotts on Anthony Road, as well as condos on Cairnhill Rise and Cairnhill Circle, such as The Peak @ Cairnhill I & II, Hilltops, and Helios Residences.…

Malaysian real estate developer UEM Sunrise and Singapore-listed GuocoLand have recently signed a historic Memorandum of Understanding (MOU) between private companies from Malaysia and Singapore, as announced in a press release on February 27. The signing of this MOU marks the first partnership between the two countries to develop projects within the Johor-Singapore Special Economic Zone (JS-SEZ).

According to the MOU, both companies will collaborate on the development of freehold land in Iskandar Puteri, Johor, with the aim of accelerating economic growth within the JS-SEZ. This significant event was celebrated alongside the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the company’s vision for Iskandar Puteri.

Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, specializes in various sectors, including manufacturing, business services, education, health, and tourism. This collaboration between UEM Sunrise and GuocoLand aims to activate the potential of Iskandar Puteri and enhance its attractiveness for investment. It will focus on improving connectivity, fostering talent development, and creating a business-friendly environment to drive sustainable economic growth in Johor.

“This partnership is not only about development but also about shaping a thriving, future-ready economic hub that will create long-term growth, job opportunities, and strengthen the JS-SEZ ecosystem,” says Hafizuddin Sulaiman, CFO of UEM Sunrise.

The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The partnership intends to take advantage of the strategic location of these sites, near Singapore, Senai Airport, and the Port of Tanjung Pelepas, to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub.

Datuk Hisham Hamdan, chairman of UEM Sunrise, stated in his speech, “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy.” Meanwhile, according to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group will bring its experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.

“Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments,” he adds.

UEM Sunrise has already played a significant role in the urban development of Iskandar Puteri, with existing projects including residential townships such as the Aspira series and Senadi Hill. The company has also developed commercial and retail hubs, with an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri is expected to be further boosted by incentives and support schemes introduced by the Malaysian and Singaporean governments, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

Frasers Property has collaborated with two leading Chinese real estate companies to jointly acquire a coveted residential site located in Shanghai’s affluent Songjiang District. The joint venture (JV) partners acquired the site, which was put up for tender by Shanghai Municipal Bureau of Planning and Natural Resources, for RMB815.2 million ($151.9 million). The other JV partners are Xiamen ITG Real Estate Group, a subsidiary of ITG Holding Group under the Xiamen Municipal Government, and Shanghai-listed Gemdale Corporation.

According to a press release dated February 26, Frasers Property has disclosed that the JV partners plan to develop the site into a mixed-use development consisting of 189 low-rise apartments, townhouses, and duplex units. The project will boast a total gross floor area of 334,714 sq ft.

Moreover, the development will be designed to include flood mitigation measures, ultra-low energy building designs, and sustainable features such as efficient thermal insulation, energy-saving door and window systems, and solar photovoltaics. Targeting upgraders and first-time homebuyers in Fangsong Community, Songjiang District, the project is located near two existing developments – Club Tree and Palace of Yunjian – which are joint ventures between Frasers Property and Gemdale Corporation.

“This joint venture not only reinforces our presence in Shanghai but also demonstrates our commitment to delivering high-quality residential developments that cater to the changing needs of the Chinese community,” says Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property.…