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Susheel Koul has been selected as JLL’s CEO for work dynamics in the Asia Pacific region

Singapore has risen eight places to become the 5th most expensive city around the globe for expatriates. This is one of the results of the most recent cost of living study released by ECA International.

“Singapore’s growth is noteworthy. The increased demand for rental properties located in this Lion City, driven by factors like the earlier ease of Covid-19 restrictions in comparison to other important cities in the region but not matched with a similar increase in availability of suitable accommodations,” says ECA International’s regional director for Asia Lee Quane.

Hong Kong dropped from its top position in last year’s ranking by ECA to be ranked as the second the most costly city. It was overtaken by New York this year, ending Hong Kong’s time as the most expensive city.

“Costs for services and goods within Hong Kong rose at multi-year levels, indicating that the city wasn’t exempt from the wave of inflation we’ve witnessed across the globe in the last few years,” claims Quane. But, the city’s prices fell this year as the rise in the cost of everyday goods and services was offset by a decrease in the cost of accommodation as well, he says.

In general, cities within the Asia Pacific region saw their ranking fall this year, however, the South Korean city of Seoul along with Myanmar’s Yangon did not follow the usual pattern to gain a few spots. Seoul increased one position to 9th in the rankings and Yangon increased four spots to 167.

A rise in the cost of housing in Seoul caused by the tightening of rental demand as the primary reason driving the increased price of living. In Yangon the increase was a result of ongoing socio-political issues that have led to significant inflation of daily necessities and services.

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In conjunction with an affiliated company Hyatt Hotels has signed management agreements in partnership with LFG Property to manage a Caption by Hyatt Hotel in Sydney, Australia. The hotel is anticipated to be completed by 2025. It will be the first of the brand’s name in Australia.

The hotel, which has 174 keys, will be located in Haymarket located in the southern part of Sydney’s CBD close to iconic landmarks like Sydney’s Chinatown, Capitol Theatre, Darling Harbour, Sydney International Convention Centre as well as a variety of universities and the upcoming Tech Central innovation and technology precinct.

An urban and contemporary style will define the hotel’s style The property will have layers of textures, colors and hand-drawn graphic artwork which will be used to decorate the social and dining areas.

The hotel chain from the world uses the Caption brand a ‘luxury and contemporary hotel that offers the ability to be self-guided and flexible of an selected-service property’. Properties operated under the Caption brand are equipped with technologies like digital check-in, electronic keys and mobile-ordering food services.

The first hotel under the brand Caption owned by Hyatt was opened in Memphis in the US in 2022. Hyatt claims it is planning additional openings in Australia, China, Japan and Vietnam in the coming two years. “As an organization that is focused on creating authentic experiences and connections for the modern-day traveler This new venture will create a welcoming environment where both locals and guests will feel comfortable in a setting that is reflective of the personality of the local community,” says David Udell the group president of Asia Pacific for Hyatt.

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Goldin Financial Global Centre in Hong Kong will be purchased by Mapletree Investments and PAG for US$713 million

Property analytics platform EdgeProp Singapore, as well as the news site EdgeProp Singapore, and boutique real estate agency PropertyLimBrothers Realty (PLB), have entered into an MOU in order to enhance the synergies of the two companies.

The two parties will sign an agreement for technology sharing which will grant PLB the access to EdgeProp’s entire range of proprietary property analytics tools. These can be customized to fit the PLB’s platform, giving its agents with access to the latest market information and analysis.

PLB Realty’s co-founder, CEO Melvin Lim says the agency is relying upon property technological innovation (proptech) as well as market analysis tools in order to fuel the future growth of the company. Melvin along with Adrian Lim, the another PLB Co-founder Adrian Lim officially launched themselves as PLB Realty in September 2022.

“For the real estate professionals to be current and well-informed, we need to stay up to current with the latest market trends in order to enhance our services to our clients. At PLB Agents at PLB regularly utilize analytics like price projections and data comparison to provide advice to their clients.” Melvin says. Melvin.

The increasing use of data to help make more informed property choices is the way that the market for the local property market is headed towards, according to EdgeProp Singapore CEO Bernard Tong. He believes that salespeople who incorporate proptech into their offerings are likely to be noticed and provide opportunities for them to be successful in a highly competitive market.

According to Tong Tong, the MOU will allow EdgeProp along with PLB to work together and collaborate in the future including consumer training and talks for professionals in the field of real estate. The EdgeProp team collaborated in close collaboration with PLB to customize their front-facing part of their platform in order to accommodate the needs of their agents, though EdgeProp is still the one who developed the tools.

“We were confident in using EdgeProp’s tools for analytics because of its established and well-known place within the local market as a trusted data provider. I’ve been using some of their tools over the last 10 years,” says Melvin.

When it came to Singapore, EdgeProp was the first to launch Tower View which allows users could view property prices under development through stacks or in relation to storeys. EdgeProp was among the first tools to allow users to view the floor plans of development.

Melvin mentions that the group at PLB who manages the marketing and sales of land properties often utilize EdgeProp’s Inspector tool to help them with areas like lot subdivision land zoning, lot subdivision and other details about land parcels. EdgeProp’s tools are also utilized for their latest launch comparision and educational content created by the media department in house.

“I am pleased that the partnership between our two companies has advanced to the point where it opens up opportunities for collaboration for both parties This MOU was the result from our common goal to educate the public about the use of information to help make more informed property choices,” says Tong.

He also notes that there are numerous similarities and overlaps in the business strategies of both companies in regards to editorial and media coverage. “PLB has created a constant flow of educational videos and one of the strengths of EdgeProp is the range of our editorial and news reportage of market.”

The working environment is changing as people become technologically adept, and agents or portals that are not supported by analytics and data will be more unable to aid buyers and sellers to make informed property choices, according to Tong.

Exploring Architectural Style Features in Grand Dunman

Welcome to the fascinating world of architectural styles in Grand Dunman, a city that artfully blends history, culture modern technology, and innovation. As we explore the captivating architectural style features that define the city’s buildings, prepare to embark on a journey through time, discovering architectural marvels from the classical era to the cutting-edge designs of modern sustainability.

Short Summary

  • Grand Dunman’s architecture reflects its cultural heritage, historical context and technological advances.
  • Modern architecture is characterized by clean lines, functionalism and the use of new materials & technologies.
  • Biophilic design seeks to create a connection between humans & nature through natural elements in architecture.

Defining Architectural Style Features in Grand Dunman

Grand Dunman is renowned for its unique architectural style features, which are shaped by cultural influences, historical context, and technological advances. As we stroll through the streets of this magnificent city, we are greeted by a rich tapestry of styles, from the Beaux-Arts grandeur of the Grand Central Terminal to the charming pre-war shophouses along Koon Seng Road, reflecting the city’s diverse cultural heritage.

The city’s architecture not only tells a story about its past, but also showcases the innovative spirit of contemporary architects who have embraced modern materials and technologies to create structures that are both functional and aesthetically pleasing. In this exploration, we will delve into the key aspects that define Grand Dunman’s architectural styles, from the orderly symmetry of classical architecture to the playful irony of postmodernism.

Cultural Influences

Nestled within an area of abundant historical and cultural heritage, Grand Dunman’s architectural landscape is profoundly influenced by the diverse cultures that have shaped its history. One notable example is the presence of Peranakan culture, which has left an indelible mark on the city’s architecture, particularly in the pre-war shophouses that line Koon Seng Road.

These cultural influences not only add to the visual appeal of the city’s buildings, but also serve as a testament to the importance of preserving and celebrating the rich tapestry of traditions that have shaped the city and local people’s identity.

As we continue our journey through Grand Dunman’s architectural styles, we will witness the environmental impact of various cultural influences and their role in shaping the city’s unique architectural character.

Historical Context

In order to fully appreciate the diverse architectural styles present in Grand Dunman, it is essential to understand the historical context that has shaped its structures. The city’s history is founded upon a rich tapestry of architectural influences, from the classical order of ancient Greece to the Baroque grandeur that once dominated the city skylines of European countries during the British Empire.

Throughout its history, Grand Dunman has continually embraced new architectural styles, incorporating the structural elements and materials of bygone eras while adapting to present-day technological advancements. This amalgamation of historical influences and contemporary innovation has culminated in the creation of a city that seamlessly blends the past with the future, resulting in a unique architectural landscape that continues to evolve and inspire.

Technological Advances

Grand Dunman’s architecture also stands as a testament to the incredible technological advances that have been made in the field of building design and construction. The city’s structures showcase a range of modern materials and construction techniques, such as steel and concrete, that have allowed architects to push the boundaries of what is possible and create truly awe-inspiring edifices.

In addition to the use of innovative materials, Grand Dunman has incorporated energy-efficient design elements and embraced cutting-edge technologies like solar panels and smart home systems, which serve to minimize the city’s carbon footprint and contribute to a more sustainable and efficient living environment.

As we explore the various architectural styles present in the city, we will see the impact of these technological advances on the buildings and structures that define Grand Dunman.

Classical Architecture

Classical architecture, characterized by order and symmetry, geometry and proportions, has left an indelible mark on the architectural landscape of Grand Dunman. From the majestic columns of ancient Greece to the awe-inspiring domes of Rome, classical architecture has transcended time and inspired architects around the world.

Let us delve deeper into the key components of classical architecture and examine some of the finest examples of this enduring style.

Order and Symmetry

Order and symmetry are essential in classical architecture, generating a feeling of equilibrium, harmony, and logic that unifies the various components of a structure into a single, cohesive entity. By using curved lines and adhering to strict geometric rules and proportions, architects have been able to create a sense of balance and unity that not only pleases the eye but also reflects the underlying principles of nature itself.

Iconic examples of classical architecture, such as the Parthenon in Athens and the Pantheon in Rome, showcase the timeless appeal of these design principles and continue to inspire contemporary architects seeking to incorporate elements of the classical style into their own work.

As we move forward into the realm of modern architecture, we will see how the principles of order and symmetry have evolved to incorporate new materials and technologies, yet still remain firmly rooted in the classical tradition.

Geometry and Proportions

Geometry and proportions are integral to the art of classical architecture, providing a framework for the arrangement of architectural components and the overall composition of the building. By adhering to precise mathematical ratios and utilizing shapes such as the circle and the square, architects have been able to create a sense of harmony, balance, and elegance in their designs that resonates with the viewer on a deeply intuitive level.

The significance of geometry and proportions extends beyond the aesthetic realm, however, as they also play a crucial role in designing structural systems that ensure the stability of the building and its ability to withstand the forces of nature. By adhering to these fundamental principles, classical architects have been able to create structures that are not only visually stunning but also exceptionally resilient and enduring.

Iconic Examples

The enduring appeal of classical architecture can be witnessed in numerous iconic examples from around the world, such as the Parthenon in Athens, the Temple of Hephaestus, and the Erechtheion in Greece, as well as St. Peter’s Basilica in Rome, Italy. These ancient structures continue to captivate modern audiences with their timeless beauty, intricate craftsmanship, and unwavering adherence to the principles of order, symmetry, geometry, and proportions.

As we journey through the various architectural styles that have shaped the world, it becomes apparent that the legacy of classical architecture is deeply ingrained in the fabric of our built environment. Whether through the revival of classical styles during the Neoclassical period or the reinterpretation of classical principles by contemporary architects, the influence of classical architecture remains ever-present and continues to inspire new generations of architects and designers of new world.

Modern Architecture

In contrast to the timeless beauty of classical architecture, modern architecture emerged in the first half of the 20th century as a response to the rapidly changing world and the need for new, innovative approaches to design. Defined by the International Style, the Bauhaus Movement, and prominent modern architects like Le Corbusier and Mies van der Rohe, modern architecture is characterized by clean lines, functionalism, and the use of new materials and technologies.

Let us delve into the key aspects of modern architecture and examine how it has shaped the built environment of today.

International Style

The International Style emerged in the early 20th century as the epitome of modern architecture, characterized by rectangular structures, flat surfaces and roofs, a lack of ornamentation, and the use of glass, steel, and reinforced concrete as materials. This style sought to break away from the historical and decorative influences of the past and focus instead on the functional aspects of design, resulting in buildings that were sleek, streamlined, and distinctly modern.

Examples of the International Style can be seen in city skylines across the world, such as the Tokyo International Forum Glass Building, which beautifully embodies the functional emphasis and use of large, open spaces popularized by the movement.

As we continue to explore the various architectural styles present in Grand Dunman and beyond, we will see the enduring impact of the International Style on contemporary architecture and its continuing influence on the design of structures worldwide.

Bauhaus Movement

Another key aspect of modern architecture is the Bauhaus Movement, which was the first design school in the world and sought to revolutionize the way architecture and design were approached. Founded by Walter Gropius, the Bauhaus Movement prioritized functionality and the notion that the aesthetic beauty of a structure is derived from the simplicity and practicality of its design.

Gropius’ revolutionary teaching methods and the curriculum he developed at the Bauhaus school helped to advance the movement’s distinctive style of architecture, which can be seen in numerous modern buildings that prioritize function over form.

As we examine the various architectural styles that have shaped Grand Dunman, we will see the influence of the Bauhaus Movement and its emphasis on functional design and the use of modern materials and technologies.

Prominent Modern Architects

In addition to the International Style and the Bauhaus Movement, modern architecture is also defined by the work of prominent architects such as Frank Lloyd Wright, Frank Gehry, Le Corbusier, Mies van der Rohe, architect Zaha Hadid, and Louis Kahn. These architects have each made significant contributions to the field of modern architecture, developing their own distinctive styles and pushing the boundaries of what is possible through the use of innovative materials, technologies, and design principles.

For example, Frank Lloyd Wright is renowned for his Prairie School style, which emphasizes horizontal lines and a connection to the natural environment, while Frank Gehry is known for his Deconstructivist style, characterized by fragmented forms, unconventional materials, and a lack of symmetry.

As we explore the various architectural styles present in Grand Dunman, we will see the lasting impact of these prominent modern architects and their contributions to the evolution of architecture as we know it today.

Sustainable Architecture

As concerns about environmental sustainability continue to grow, a new approach to architecture has emerged that prioritizes the use of natural materials, energy efficiency, and innovative construction techniques to minimize the environmental impact of buildings: sustainable architecture.

In this section, we will explore the key components of sustainable architecture and examine how this approach to technology is shaping the built environment of the future.

Natural Materials

The use of natural materials is a cornerstone of sustainable architecture, as these materials often have a lower environmental impact than their synthetic counterparts and can contribute to the creation of healthier, more comfortable living spaces. Examples of sustainable materials used in various projects include timber and tuff rock in Grand Dunman, as well as locally reclaimed stone, weathered lumber, Atlantic White Cedar wood, green bamboo, eucalyptus poles, and jute.

By incorporating sustainable materials into their designs, architects can not only reduce the carbon footprint of their buildings, but also create structures that are more in harmony with the natural environment and the local context in which they are built.

As we continue to explore the various architectural styles and approaches present in Grand Dunman, we will see how the use of natural materials has shaped the city’s buildings and contributed to a more sustainable future.

Energy Efficiency

Energy efficiency is another key aspect of sustainable architecture, as it plays a crucial role in reducing the overall environmental impact of buildings and promoting a more sustainable way of life. Architects can achieve energy efficiency in their designs by incorporating elements such as energy-efficient facade systems, natural lighting, insulation, and the reuse of materials and structural elements.

For example, the West Side Residence is a sustainable project that saves a total of 72,000 kWh of electricity annually through its energy-efficient design. As we explore the various architectural styles and approaches present in Grand Dunman and beyond, we will see how the focus on energy efficiency is shaping the built environment and contributing to a more sustainable future for all.

Innovative Construction Techniques

In addition to the use of natural materials and a focus on energy efficiency, sustainable architecture also involves the implementation of innovative construction techniques that minimize the environmental impact of the building process. Examples of such techniques include the use of recycled construction waste and ground source heat pumps, which have been employed in projects such as the Grand Dunman development and Beck Farm.

By embracing these innovative construction techniques, architects and builders can create structures that not only minimize the environmental impact of their construction but also demonstrate a commitment to sustainable development and the creation of a more environmentally responsible built environment.

As we continue to explore the various architectural styles and approaches present in Grand Dunman, we will see how these innovative and sustainable construction techniques are shaping the city’s structures and contributing to a more sustainable future.

Postmodern Architecture

Postmodern architecture emerged in the late 1950s as a reaction against the austerity and formality of modern architecture and is characterized by a sophisticated use of forms, colors, and materials, as well as a repudiation of the strict functionalism of modernism.

This architectural style is known for its historical references, irony and humor, and incorporation of popular culture elements, which add a sense of whimsicality and playfulness to the design. In this section, we will delve into the key aspects of postmodern architecture and explore how it has shaped the built environment of Grand Dunman.

Historical References

Postmodern architecture is an eclectic blend of various styles small structures that incorporate elements from historical styles and motifs, such as classicism and popular culture, and responds to the urban context in which it is situated. This approach to design allows architects to challenge traditional architectural norms and create structures that are more accessible and engaging to the general public.

By incorporating historical references and allusions to popular culture, postmodern architecture not only adds a layer of visual interest to the built environment, but also serves as a bridge between the past and the present, allowing architects to create structures that resonate with contemporary audiences while still acknowledging the rich architectural heritage of the past.

As we continue our exploration of the various architectural styles present in Grand Dunman, we will see how postmodern architecture has shaped the city’s landscape and influenced the work of contemporary architects.

Irony and Humor

Irony and humor play a significant role in postmodern architecture, serving as both an aesthetic tool and a means of overturning conventional architectural norms. By incorporating elements of irony and humor into their designs, architects can create structures that not only challenge the viewer’s expectations, but also generate a sense of amusement and playfulness that sets postmodern architecture apart from more traditional styles.

The use makes sense of irony and humor in postmodern architecture can be seen in various forms, from the existential comedy of acknowledging the absurdity of life to the cultural satire of questioning traditional norms and conventions.

As we explore the various architectural styles and approaches present in Grand Dunman, we will see how the use of irony and humor has shaped the city’s buildings and contributed to the creation of a more engaging and dynamic built environment.

Popular Culture

Popular culture plays a crucial role in postmodern architecture, with architects frequently incorporating elements of popular culture into their designs to create a sense of familiarity and accessibility for the general public. This approach to design allows architects to break away from the traditional constraints of architectural style and create structures that are more engaging, playful, and reflective of contemporary society.

Examples of popular culture elements used in postmodern architecture include the incorporation of industrial materials such as steel, concrete, and glass, as well as pop culture imagery like comic book characters, movie posters, and graffiti.

As we continue our exploration of the various architectural styles and approaches present in Grand Dunman, we will see how the use of popular culture elements has shaped the city’s buildings and contributed to the creation of a more vibrant and engaging built environment.

Biophilic Design

In recent years, there has been a growing interest in biophilic design, an approach to architecture that seeks to create a connection to nature through the use of natural elements such as plants, water, and sunlight. This design philosophy is based on the idea that humans have an innate connection to nature that can be enhanced through the built environment, resulting in spaces that promote well-being and a sense of harmony with the natural world.

In this section, we will explore the key aspects of biophilic design and examine how it is shaping the future of architecture.

Connection to Nature

The connection to nature is a critical element of biophilic design, as it helps to foster a sense of harmony and balance between individuals and the environment. By incorporating elements of nature into the design of buildings and spaces, architects can create environments that not only promote well-being but also encourage a deeper connection to the natural world and a greater sense of responsibility towards the environment.

Examples of biophilic design can be seen in projects such as the Eden Project in Cornwall, UK, which features a series of massive geodesic domes that house thousands of plant species from around the world, creating a unique indoor rainforest experience for visitors.

As we continue to explore the various architectural styles and approaches present in Grand Dunman, we will see how the connection to nature has shaped the city’s buildings and contributed to the development of a more sustainable and harmonious built environment.

Natural Elements

In biophilic design, natural elements such local materials such as lighting, ventilation, and landscape features are utilized to create spaces that promote well-being and a sense of connection to the natural world. These elements can take many forms, from the inclusion of potted plants and flowerbeds to the incorporation of water features and the use of natural materials like FSC wood, bamboo, and furniture with organic shapes.

By incorporating these natural elements into their designs, architects can create spaces that not only improve the quality of life for building occupants, but also contribute to a more sustainable and environmentally responsible built environment.

As we continue our exploration of the various architectural styles and approaches present in Grand Dunman, we will see how the use of natural elements has shaped the city’s buildings and contributed to the creation of a more harmonious and sustainable urban landscape.

Case Studies

The growing interest in biophilic design can be seen in numerous case studies from around the world, such as the stra Psychiatry Hospital in Sweden, which features an innovative interior design that incorporates natural elements like sunlight, plants, and water features to create a calming and therapeutic environment for patients. Another example of biophilic design in action is the Parkroyal on Pickering hotel & spa in Singapore, which features a stunning “hotel-in-a-garden” concept that incorporates lush greenery, water features, and natural materials throughout the building.

These case studies demonstrate the potential of biophilic design to transform the built environment and create spaces that promote well-being, environmental sustainability, and a deeper connection to nature.

As we continue our exploration of the various architectural styles and approaches present in Grand Dunman, we will see how biophilic design is shaping the future of architecture and contributing to the development of a more sustainable and harmonious urban landscape.

Summary

In conclusion, the rich tapestry of architectural styles present in Grand Dunman offers a fascinating insight into the diverse influences that have shaped the city’s built environment, from the timeless beauty of classical architecture to the innovative approaches of modern sustainability. As we have seen, the city’s buildings not only tell a story about its past, but also showcase the creative spirit of contemporary architects who have embraced new materials, technologies, and design principles to create structures that are both functional and aesthetically pleasing. By exploring the various architectural styles and approaches present in Grand Dunman, we hope to inspire a greater appreciation for the art of architecture and its ability to shape our lives, our cities, and our world.

Frequently Asked Questions

What are the four major elements of architectural style?

Understanding the four main elements of architectural style – Point, Line, Plane and Volume – is essential to constructing beautiful, functional designs. Each element plays an important role in creating a sense of space, balance, structure and overall aesthetic appeal.

With a firm knowledge of the foundational principles, architects are able to build striking buildings that stand the test of time.

What are the 5 basic architectural elements?

The five basic architectural elements are Schematic Design, Design Development, Contract Documents, Bidding and Construction Administration. These steps form the foundation of an effective architectural design process, and are essential for successful project completion.

What is the description of architectural styles?

Architectural style is a distinct visual language that expresses a distinct idea about how people interact with their built environment. It is often used to convey a particular historical era or culture and can be expressed through various building elements such as materials, shapes, and colors.

Ultimately, architectural style defines the overall look and feel of a structure.

What are the 7 types of architecture?

The seven types of architecture include residential, commercial, industrial, institutional, recreational, landscape and urban design. Each type specializes in a certain area of building design, providing unique insights into creating functional and aesthetically pleasing structures that are tailored to the specific needs of the customer.

From residential homes to commercial office buildings, industrial warehouses to recreational parks, landscape designs to urban planning, architecture is a complex and diverse field. Architects must consider a variety of factors when designing a building.

What is innovative design in architecture?

Innovative design in architecture refers to the use of creative, new approaches and techniques to create structures that are visually appealing, highly functional, and efficient. It emphasizes flexibility and customization in order to meet the needs of users or occupants.

This approach to design is becoming increasingly popular as architects strive to create buildings and interiors that are both aesthetically pleasing and practical. By utilizing innovative techniques, architects can create structures that are both visually stunning and highly functional.

Innovative design.

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Lendlease Global Commercial REIT (LREIT) has announced an increase in distributable income by 95.9% y-o-y to $56 million for its 1HFY2023 that ended in December, which translates to an annual distribution that was 2.45 cents.

The revenue from the period nearly tripled by more than doubling to $101.7 million, primarily through Jem’s acquisition in Jem in April 2022 and improved operating performance at 313@Somerset. This resulted in a higher income from net property earnings of $76.4 million in 1HFY2023.

At December 31, 2022, the total borrowings of LREIT were $1.45 billion, with an estimated gearing ratio at 39.2%. Approximately 62% of LREIT’s borrowings are sustainability-linked financing, which are expected to generate net interest savings to its unitholders.

The average maturity of debt was 2.6 years, with an average weighted expense at 2.35% per annum. LREIT boasts an interest coverage rate that is 5.5 times.

The portfolio’s committed occupancy was as 99.8% with a weighted average lease expiry (WALE) of 8.3 years by net lettable area (NLA) and 5.3 years of Gross Rental Income (GRI). Leases due to expire for the year were reduced up to 5.9% from 8% prior to that through NLA in addition to 9.6% from 14.5% earlier by GRI.

The inventory of retail properties’ occupancy was at 99.5% as at Dec 31, 2022 . It also had positive retail rental reversion of around 2%.

At the end of the period in the year, both the sales of tenants and visitation rates surpassed pre-Covid-19 levels, growing 5 percent and 2.8 times yearly, respectively. 1HFY2023.

The retail portfolio boasts good tenant retention rates in the range of 72.4% with essential services comprising the bulk of trades , which is around 58% according to GRI.

In addition, the office portfolio of LREIT has seen a positive rate of rental escalation of around 4% and a WALE of 12.4 years as per NLA as well as 15.3 years according to GRI.

“We believe that the retail assets of LREIT will profit from China’s reopening to boost foot traffic as well as sales by tenants to the retailers’ properties,” says CEO of the manager Kelvin Chow.

Units of LREIT were trading at an unchanging 73.5 cents on February 7.

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The latest prices at 19 Nassim, a luxurious project situated on Nassim Hill in District 10, has pushed the psf price in the area to new heights. The condo recorded the sale of a 538 square foot one-bedroom apartment for $2.09 million ($3,876 per square foot) on January 4the highest price for psf for all condos that reached the highest psf price in Singapore during the time period from Jan 3 through 19.

The highest price for psf at 19 Nassim was set through the sale of a 1,410 square foot three-bedroom house in the amount of $5.29 million ($3,751 per sq ft) on the 8th of October 2021.

On Jan. 4 the 1,475 square foot three-bedroom unit located at 19 Nassim was purchased at $5.63 million ($3,815 per square foot). The sales on Jan 4 represent the first time units within the project were offered by the developer at a price greater than $3,800 per square foot according to the submitted URA conditions.

19 Nassim is a luxurious 101-unit condo built by Keppel Land and is a revamp of their previous development, Nassim Woods. The new development is located in an exclusive Nassim Road residential enclave, which is a neighborhood that has several luxury developments like Nassim Park Residences and the coming Les Maisons Nassim.

19 Nassim is located near The Interpol Global Complex and in close proximity to Singapore’s embassy row on Napier Road. The condominium is also close to Singapore Botanic Gardens, Gleneagles Hospital, Tanglin Mall, and the Orchard Road shopping belt. Nearby transport links include the recently operational Napier as well as Orchard Boulevard MRT Stations located on the Thomson-East Coast Line.

There have been only six transactions so far in 19 Nassim despite the fact that the project was launched to be sold at the end of March. However, it’s possible that, given the exclusive nature that the venture has, certain sales might not be included in the caveats.

Additionally, One Bernam also saw an increase in the psf-price during the review period when a 441 square foot one-bedroom unit was offered through developers to developers to the developer for $1.45 million ($3,295 per square foot) on January 16. This price was higher than the previous record established by the sale of an additional 441 square feet one-bedder at $1.4 million ($3,168 per sq ft) on the 10th of November 2022.

One Bernam is a mixed-use development located at 1 Bernam Street in the Tanjong Pagar district of District 2. The entire project comprises two floors of retail space and 351 condominium units along with 13 apartment units that have been serviced. The project is currently being developed with the Singapore-based MCC Group and Hao Yuan Investment.

The 99-year leasehold development was launched in May 2021. Based on submitted developer sales figures the project was about 40% sold at the time of closing in December 2022.

The prices at the project have been increasing steadily over the last couple of months. As of August 20, 2022 the psf price reached a record high of $2,971 when a 440 square feet one-bedder was sold at $1.31 million. Then, in December of this year, a brand new price for psf was set with the purchase of a 829 square foot 2-bedroom apartment was sold to a buyer for $2.57 million ($3,100 per sq ft).

The only development that has been launched within the vicinity of One Bernam is Sky Everton on Everton Road. The freehold 262-unit development was officially launched in May 2021, and is almost complete, with 99% sales at the end of December 2022. The average selling price for Sky Everton will be around $2,859 psf. One Bernam’s average is around $2,543 per square foot.

On the other hand Sloane Homes located in the District 10’s most sought-after area set a record-breaking price for psf when a 1,249 sq ft, three-bedroom apartment was bought by developers at $3.15 million ($2,526 per square foot) on January 7. The sale came less than one month since the previous record of $2,664 psf , which was set on December 16 when a 1,249 sq . ft three-bedroom home sold for $3.46 million.

In addition, the developer also relocated three other units in Sloane Residences on the 7th of January.

The transactions comprised a pair of adjacent seven43 square feet two-bedders which sold for $1.97 million ($2,659 per square foot) in addition to $1.93 million ($2,598 per square foot) in addition to an additional 1,249 square feet three-bedroom unit which was purchased at $3.23 million ($2,585 per square foot).

Sloane Residences is now fully sold, on the basis of URA restrictions. The development, which was jointly created with Tiong Seng Holdings and Ocean Sky International was granted its temporary occupancy permit last November.

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APAC Realty purchases a 60% share in ERA Vietnam and Eurocapital for $4.9 million

The Singapore Land Authority (SLA) has made strides in the creation of the Digital Conveyancing Portal (DCP) the online platform that aims to simplify the legal process of transfer property titles.

Through the DCP, SLA aims to completely digitize conveyancing which is currently based heavily on paper-based, manual procedure. Once fully operational it will DCP will allow property transaction to be processed in a digital manner from beginning to end, the ability to accept electronic payments and submit digitally-generated documents. It will be available to private and public housing in addition to industrial and commercial properties.

Tech Mahindra has been appointed as the vendor who will gradually create to implement DCP in three phases. The first phase will include an Option-to-Purchase (OTP) stage that will allow developer sale, resale , and sub-sale, and is scheduled to complete by 2Q2024.

In the second stage, it will address the completion and pre-completion stages of developer sales transactions, and the third phase will focus on the completion and pre-completion phases for sub-sale or resale transactions. The DCP is anticipated to be fully finished by 2026.

SLA collaborates with HDB to incorporate the DCP workstreams in order to digitize conveyancing processes, which includes the facilitation of electronic payments and digitising legal documents used for HDB property deals, when it is feasible.

In addition to buyers and sellers, SLA also highlights that the DCP can make it easier for the other parties who are involved in the conveyancing process like lawyers as well as realtors, developers along with property purchasers and sellers by reducing amount of time and effort needed to administer the processes involved for conveyancing.

Read also: Transactions in industrial real estate decreased in 4Q2022

Transactions in industrial real estate decreased in 4Q2022

Prime office rents in Raffles Place and Marina Bay grew by 1.7% over a period of time to $10.69 per sq ft in 4Q2022, according the data from Knight Frank. The full-year increase of prime office rental at 5.5%, exceeding Knight Frank’s prediction for three% or 5% at the beginning this year.

According to the firm the rents were influenced by the limited inventory of new office space and the constant demand for co-working and traditional office space. “The office market has turned into an investment market for landlords,” says Calvin Yeo the managing director of occupier strategy and solutions for Knight Frank Singapore.

The occupancy rates in areas like the Raffles Place as well as the Marina Bay precinct stood at 95.5% as of end-2022 The overall occupancy of the CBD has increased by 93.6% to 94.2% in the last quarter. Yeo says this is due to companies searching for offices of high-quality that will allow for the complete return of operations prior to the outbreak.

The reason for this is that more workers are working full-time from their office The proportion of workers working remotely expected to range between 10% to 15% which is lower that the previous 20% previously projected. “The long-term use of hybrid working may not be as widespread and long-lasting in Singapore as it was initially portrayed during the peak of the pandemic” says Yeo. Therefore leasing markets remain active, with office workers looking for higher high-quality space.

Additionally, Knight Frank highlights that more flexibility and choices are offered by co-working spaces located in the CBD. For instance, Trehaus at Funan incorporates preschool and childcare services and preschool services, while Japanese co-working space One&Co is located at Twenty Anson supports Japanese companies expanding into Singapore. “Occupiers who aren’t sure whether to relocate or renew are able to choose an interim co-working spaces, particularly those with smaller spaces,” says Yeo.

For the future, he predicts lower rental growth by 2023 for offices that are prime quality driven by the macroeconomic downturn and the fluctuations in the tech industry which has resulted in the sacking of employees. However, Singapore’s position as a safety-first flight location is likely to help boost the demand for office space, with multinational companies opening their doors in Singapore, or moving operations from other regions of Asia.

Additionally, Yeo notes that despite the layoffs in tech the employment rate have risen because non-tech businesses like those in the financial and banking sectors, are absorbing talents available to build their technology platforms. A report of the Ministry of Manpower states that the rate of unemployment among executives, professionals, managers and technicians fell by 3.4% in 2021 to 2.6% in 2022.

Due to the consistent level of demand, and an insufficient supply of new office space Yeo expects rents to rise approximately 3% over the course of 2023, subject to any major pre-termination or reduction in office space for technology firms.

Grand Dunman sales

JLL has appointed Susheel Koul as the company’s CEO for work-related dynamics for Asia Pacific. Koul succeeds Jordi Martin. Martin is set to quit at the end of March after 31 years of service with the company.

Grand Dunman sales with a Gross Maximum Area (GFA) of 88,321 square metres (sq m). Dunman Road GLS residence is expected to house 1,040 residential units and a maximum building height of about 64 metres Singapore height datum.

Koul located in Singapore and has been working for JLL for the last year. Koul has served in a variety of positions at the top of JLL that focused on client service and sales. He was the most recent the division’s president of work-related dynamic within Asia Pacific.

“Susheel has established an outstanding reputation throughout his 22-year tenure at JLL. He has been an experienced adviser to our clients’ most important clients as we assist them to navigate the constantly changing working and workplace environment,” says Neil Murray JLL’s CEO for workplace dynamic.

The business unit for work dynamics of JLL provides a variety of services that cover the entire real estate lifecycle for corporate occupiers. This includes the integration of facilities management and sustainability consultation and construction project management. leasing transaction management.

Grand Dunman Dunman Road floor plan

The most recent report of the Collective Sale Committee (CSC) Members of Mandarin Gardens believe they have a good likelihood of convincing around eighty% of owners of the 1,006 unit condominium at Siglap Road in prime District 15 in the east to consent to the collective sale. They are also hopeful of securing that 1.08 million square feet 99-year leasehold site will attract developer interest , despite the dimensions.

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

The CSC is gathering the responses of the owners of the units in order to begin the collective sale. If they are successful in gaining the 80% majority, the development could be offered for auction for sale at the price set by reserve of $2.88 billion in the coming year. The price does not include the land betterment fee.

This isn’t the only time that the Mandarin Gardens’ owners Mandarin Gardens have attempted a collective sale. The first attempt at a collective sale in 2008 failed because of the Global Financial Crisis. The second attempt came 10 years later in the year the year of 2018. Initial reserve prices were set at $2.478 billion. It was raised by $2.788 billion on November of 2018, when it was discovered that the property was overvalued by $300 million. In February of 2019, the reserve price was raised another time by $2.93 billion, however, at the time the contract for collective sales came to an end in March of 2019 the agreement was signed by there was only the 68% from the landowners had signed the agreement.

Following the failure The owners waited two years before attempting again. This is in compliance of the modified Land Titles Strata Act of 2010. The first retry needs approval of just fifty% of the shares or owners. However, for the subsequent retries, an approval of 80% is required.

The end of the two-year waiting time at the end of the two-year waiting period, some members from Mandarin Gardens who had championed the previous collective sale effort were eager to make another attempt. “We have had a more favorable response from owners this time,” says R Janardhanan who was an CSC participant in this latest attempt at a collective sale. The member was also involved with the earlier collective sale, as well.