With shares across the world rising, and “progress talks” between the US and China, the US-China trade world looks to be drawing to a close.

World shares hit a 21-month high on Monday (4 November) on the back of signs that the United States and China trade war may soon come to an end as well as signs that the world may avoid a recession, reported Reuters.

Last week, Beijing and Washington spoke of progress in talks targeted at settling a trade war that has shaken financial markets and bruised the global economy. In fact, US officials expect a deal to be signed this month.

Tracking shares across 47 countries, the MSCI world equity index rose 0.3% to its highest level since February last year, with key European indexes following the upward trend of Asian indexes.

The broad Euro STOXX 600 rose 0.9%, while Frankfurt’s main index, which is considered as highly exposed to the trade dispute, gained 1.2% or its highest since June 2018.

Wall Street futures, on the other hand, climbed 0.5%.

Earlier, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.2%, while indexes in Seoul and Hong Kong climbed 1.4% and 1.7% respectively. Mainland Chinese blue chips gained 0.7%.

The bullish tone also spilled over currency markets, with the Chinese yuan increasing to a 12-week high against the dollar.

Investors are expecting the two biggest economies of the world to reach a “phase one” trade deal, with the key date in focus being 15 December – when new tariffs imposed by the US government on Chinese imports are due to kick in.

“It will be a convenient decision for President Trump to let phase one be signed,” said Alessia Berardi, senior economist at Amundi. “This is a kind of low-hanging fruit to collect and is very much possible.”

Notably, US President Donald Trump aims to reap political benefits from closing a deal ahead of the upcoming 2020 presidential election.

Investors are also emboldened by a sense that a global recession, which is forecasted by many investors and economists to hit in 2020, was a diminishing risk.

The United State’s better-than-expected jobs report in October added to signs of economic resilience.

READ: Here’s why private home prices are still rising, despite the US-China trade war and gloomy Singapore economy outlook.  

“The macro environment is still resilient, stabilized and maybe even showing signs of improvement – and that is a net positive for risky assets,” said Unigestion senior portfolio manager Olivier Marciot.

Over at the bond markets, the three-month to 10-year Treasury yield curve – a key indication of US recession when inverted – climbed again after remaining in negative territory since May.

On the earnings front, the US defied expectations of an annual aggregate contraction for the third consecutive quarter.

“Expectations were low going into earnings, and things are getting better than expected,” said Marciot.

Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

Three Singapore-listed developers – Heeton Holdings, Lian Beng Group and KSH Holdings – have consolidated their interest in a freehold land parcel in Brisbane, Australia.

According to a report on The Business Times, with Heeton holding a 55 percent stake, Lian Beng Group 30 percent and KSH Holdings 15 percent, the consortium paid A$5.5 million (S$5.23 million) in cash for the 67 percent remaining interest in 186, Wickham Street, Fortitude Valley.

The consortium first invested in the land parcel in 2014, together with Australian seller Marvel Investments, with intent to transform the site into two residential blocks for sale to Asian investors. The development is Brisbane was the first project of all three Singapore partners in Australia.

The latest price included the discharge of a A$2.2 million shareholder loan.

The consideration was arrived at a willing-buyer, willing-seller basis, against the net tangible assets of about A$3.05 million of the holding company.

Heeton revealed that its share of the deal was paid in a mix of external borrowings and internal funds. Its board does not expect the transaction to materially affect its net tangible assets and earnings per share for the year ending 31 December 2019.

Looking to buy a Singapore home instead but not sure where to start? Get insight on the best locations for your new home with our AreaInsider Guides.

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

Keppel Land, via its fully-owned unit Monestine, has partnered Vietnamese developer Phu Long Real Estate Corporation to acquire a 60 percent interest in three plots of land in Ho Chi Minh City, Vietnam for VND1,304 billion (S$76 million).

With a total area of 6.2 hectares, the three sites within the Nha Be district are within 400 metres of each other.

The sites are near various public amenities, including reputable healthcare facilities such as Tam Duc Heart Hospital and FV Hospital, as well as educational institutions like the Royal Melbourne Institute of Technology (HCMC campus), Ton Duc Thang University and the Saigon South International School. Nearby lifestyle and recreation offerings include, Crescent Mall, Saigon South Golf Course and SC VivoCity.

The partners intend to develop the sites into 2,400 premium apartment units with ancillary shophouses, offering about 14,650 sq m of commercial space. Inclusive of land cost, the project’s total development cost is expected to exceed VND7,400 billion (S$425 million).

Prefer to buy Singapore properties instead? Make sure you check out our AreaInsider guides first for pricing guides and insights!

The project will be developed in three phases, with development works for Phase One – which will feature 910 apartment units and some shophouses – starting in Q1 2020.

“We are confident that our residential developments will be well-received by discerning homebuyers seeking well-located and high-quality homes in the Southern corridor of HCMC,” said Linson Lim, president (Vietnam) at Keppel Land.

“This acquisition will add to Keppel Land’s pipeline of about 20,000 homes and quality commercial portfolio in Vietnam.”

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

Oxley Holdings’ fully-owned Malaysia unit has acquired a 40 percent equity interest in Malaysia-based Aspen Vision Homes Sdn Bhd (AV Homes) for RM20 million ($6.56 million). Prior to Oxley’s investment, AV Homes was a “dormant subsidiary of AGH and had a net tangible asset value of RM6 million as at 20 June 2019, based on its management accounts”.

A subsidiary of SGX-listed Aspen (Group) Holdings (AGH), AV Homes holds a 75 percent stake in Aspen Park Hills Sdn Bhd (APH), which entered into a RM165 million ($54 million) deal to acquire a freehold site measuring 29.05 acres in Paya Terubong, Penang, Malaysia.

APH plans to develop the site into “four residential towers with communal facilities, two service apartment towers, lifestyle retail facilities and a clubhouse for the residents”, said Oxley in an SGX filing.

Other shareholders of AV Homes are Lee Chee Seng (three percent), Wang Yu Huei (six percent) and AGH’s fully-owned subsidiary, Aspen Vision Properties Sdn Bhd (51 percent).

Meanwhile, Oxley currently owns about 10 percent of the issued share capital of AGH.

Oxley does not expect the investment to materially affect its earnings per share or net tangible assets per share for the current financial year ending 30 June 2019.

Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

Singapore investors can look forward to owning a property in Tokyo, with the launch of Branz Otemachi – a 13 storey residential development located within Tokyo’s bustling financial district. It offers 44 units starting at $513,100.

Developed by Tokyo Land Corporation, the project offers 44 studio, one- and two-bedroom units, with prices starting at $513,100 for a studio unit.

Branz Otemachi is within walking distance to Otemachi Financial District, and is located near Tokyo Station and Ginza Station.

Although the population grew 16.34 percent over the last five years, residential properties within the area is scarce, with only five residential properties built in the last 24 years. With this, land prices in Otemachi rose 5.45 percent from the previous year.

A redevelopment project is undergoing at Tokyo station. Eight Buildings at the eastern part of Tokyo station will offer more retail and office spaces, bus terminal, international schools and a hotel.

The project is jointly launched by Tokyu Land Corporation and Jones Lang LaSalle. Handover of Branz Otemachi is scheduled for November 2019.

For more details, you may attend JLL’s Tokyo Market Update and Launch of Branz Otemachi event at Republic Plaza on 27 June at 7pm.

Looking to buy a home in Singapore instead? Get more insights on the right locations for your new home at AreaInsider.

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

Keppel’s property division has been the main contributor of earnings for the past two years. For the first quarter of 2019, the property division moved 390 homes, up from the 300 units sold over the same period in 2018.

Keppel Corp enjoys huge overseas landbank unlocking potential, with three million sq m of remaining residential areas for sale in China – mainly in Shanghai, Wuxi, Chengdu and Tianjin.

“Assuming average selling price per sq m of RMB10,000 (S$2,000), the gross development value is around RMB30 billion (S$5.9 billion). Of the 21,584 remaining units for sale in China, about 8,500 are ready to be launched from 2019 to 2021,” said RHB analyst Leng Seng Choon.

In fact, Keppel eyes to launch 2,000 housing units in China this year.

He noted that Keppel’s property division has been the main contributor of earnings for the past two years.

“In FY2018, 99 percent of EBIT was from its property development division, whilst the offshore marine and investments divisions were in the red due to the challenging market.”

For the first quarter of 2019, the property division moved 390 homes, up from the 300 units sold over the same period in 2018.

The analysts revealed that most of the homes “were sold in China, mainly in Wuxi”. Moreover, all 271 unit in Phase 1 of its new Nanjing residential project were sold during its launch in mid-April.

With this, the group is expected to continue to “source for further growth in the China property market, with focus on high growth areas namely, Jing-Jin-Ji, Yangtze River Delta and Greater Bay Area, which possess ample room for further value unlocking through property and township developments”, he said.

“With an estimated combined GDP of USD5.9 billion, we believe fundamentals of the property market of group’s focus areas are still intact and will still provide the growth sustainable return on investment in the foreseeable future.”

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

First Sponsor Group’s indirect fully-owned unit, Chengdu Gaeronic Real Estate (CGRE), allowed payment in instalments, extended the payment deadline and further amended other payment terms for the proposed sale of parts of Chengdu Cityspring.

CGRE is selling certain parts of the China mixed-use residential and commercial project to Minyoun Industrial Group, a Chengdu-based hotel, property and finance firm, for about 465 million yuan (S$92.5 million) in cash.

Three parties entered into the fifth supplemental agreement to the sale and purchase agreement – Minyoun Industrial, CGRE and Ningbo Meishan Bonded Port Area Nanshe Yachun Investment Management Partnershi, a joint venture vehicle wherein Minyoun Industrial holds a majority interest.

The fifth supplemental agreement will see the buyer and/or Ningbo Meishan paying 155.1 million yuan (S$30.8 million), which represents the outstanding amount of the consideration, as at 22 May, via monthly instalments of 10 million yuan to CGRE on the last business day of every month beginning May 2019.

The buyer and/or Ningbo Meishan will also pay liquidated damages at one percent each month on the outstanding amount for the period starting 28 May, to the date CGRE receives full payment of the remaining consideration. Failure to pay the liquidated damages by the fifth business day of every month will see them paying double the liquidated damages for such month.

Title to certain portions of the property will be transferred by CGRE to the buyer and/or Ningbo Meishan, with the consideration not exceeding the monthly instalment, following CGRE’s receipt of each instalment.

Title to the remaining parts of the property will be transferred by CGRE to the buyer and/or Ningbo Meishan once the outstanding amount is fully paid.

Under the third supplemental agreement, the buyer and/or Ningbo Meishan would pay the entire outstanding amount of the consideration to CGRE by 27 May.

CGRE was also supposed to transfer the title to certain parts of the property after it received additional cash amounting to 20 million yuan.

First Sponsor noted that CGRE can terminate the SPA and forfeit the total deposit in the event the buyer and/or Ningbo Meishan failed to pay the monthly instalment or liquidated damages on the due dates or breached any of the terms of the SPA for over 10 business days.

Meanwhile, the buyer and/or Ningbo Meishan can also terminate the SPA, with CGRE returning the total deposit given to them in the event the latter failed to provide relevant documentation or breached the terms of the SPA for over 10 business days.

Thinking of investing a property in China? See our listing pages here.

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

Portugal saw a record-breaking real estate investment of 3.35 billion euros (S$5.1 billion) in 2018.

As real estate values reach near-record levels in London, Berlin, Singapore and Tokyo, international investors have noticed that properties in Lisbon, Portugal are priced lower yet offer higher returns compared to those in the US, Far East and other European cities.

With this, JLL will hold a property seminar on why Portugal is the hot new investment opportunity for Singaporeans on 26 March.

Interested in buying overseas property? Read our guides.

The property consultancy revealed that Portugal registered a record-breaking real estate investment of 3.35 billion euros (S$5.1 billion) in 2018.

“What’s more, it is generating return rates of 7.8 percent at 18 years and with less volatility than other investments, with Golden Visas representing 3.95 billion euros (S$6 billion) of investment between 2012 and the first half of 2018.”

JLL noted that this growth is backed by strong economic fundamentals.

For the past five years, the number of tourists that arrived in the national territory rose 44 percent, and in 2018 over 24,000 non-habitual residents arrived. Data also shows that 38,550 companies were established in 2017, more than twice the number that closed.

“Ranked 1st as the best Travel Destination in Europe in 2018, Portugal is the ideal country for those who wish to have luxury and leisure both just a few minutes away, and the conditions that allow them to live the best of both worlds: the personal and the professional,” said JLL.

“The increase in direct foreign investment shows that Portugal is now firmly on the radar of investors worldwide.”

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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Keppel Corp is focusing on the overseas market following new cooling measures in Singapore.

Through its fully-owned subsidiary Portsville, Keppel Corporation is selling a 70 percent stake in Dong Nai Waterfront City (DNWC) for approximately S$136 million to Nam Long Investment Corporation, revealed an SGX filing on Monday (28 Jan).

DNWC is a Vietnamese incorporated firm that was granted the right to develop a township in Dong Nai Province, Vietnam. Jointly owned by Keppel Corporation and another company, DNWC is presently undergoing a de-merger. Upon obtaining an Investment Registration Certificate from the relevant authorities, DNWC will become a wholly-owned unit of Portsville, with the right to develop 170 hectares of land. It also owns a 28-hectare land parcel, but this is not included in the transaction.

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“The proposed divestment is in line with Keppel’s strategy to recycle assets to seek higher returns. The funds generated from the deal will be used to pursue other opportunities in Vietnam. Following completion of the divestment, Keppel’s interest in DNWC will decrease from 100 percent to 30 percent.”

Meanwhile, OCBC Investment Research (OIR) revealed that Keppel Corporation is focusing mainly on developing properties in China, while Singapore’s private residential market is being squeezed by the government’s new property cooling measures.

“Whilst property cooling measures in China have had an impact on the market, urbanisation trends and growing income levels are projected to continue driving demand for quality housing and commercial developments in key regions,” said OIR analyst Low Pei Han as quoted by Singapore Business Review.

As testament, about 50 percent of the 4,440 residential units sold by Keppel in 2018 are located in China.

Moreover, the firm’s property development arm, Keppel Land, outperformed its other businesses. In fact, Keppel Land’s earnings jumped by 44 percent to S$938 million, which accounted for Keppel Corp’s net profit of S$944 million in FY2018.

“Keppel Land’s return on equity (ROE) was 11.4 percent in FY2018,” noted Low. The developer also recorded higher margins at its Chinese residential business as it rolled out developments in Wuhan, Xi’an, Chengdu and Kunshan, where more than 90 percent of the units were taken-up last October.

For 2019, Keppel Corporation said in its latest financial statement that it plans to focus on strengthening its footprint in its key markets such as China, Vietnam and Singapore.

Home buyers looking for Overseas Properties may like to visit our Listings and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Keppel Land intends to develop the site into an eco-community featuring 392 terrace homes and 180 apartments.

Keppel Land China, a fully-owned subsidiary of Keppel Corporation, has secured a 10.97ha residential site within the Sino-Singapore Tianjin Eco-City for 1.07 billion yuan ($214 million).

Located within the mature start-up area of the Eco-City, Keppel Land intends to develop the site into an eco-community featuring 392 terrace homes and 180 low-rise apartments. The project is targeted at upper-middle income home buyers and is slated to launch in the fourth quarter of 2019.

Nearby amenities include Yongding Zhou Cultural Park, Tianjin Binhai Foreign Language School, No. 1 Community Centre and mixed-use development Seasons City, which is currently being developed by Keppel Land.

It is also a 20-minute drive away from the Tianjin Economic-Technological Development Area, one of China’s first national-level economic and technological development areas.

The company expects the project’s total development cost to be in excess of 1.90 billion yuan ($380 million).

“Over the past decade, Keppel Land has been participating actively in and contributing to the Eco-City’s development. Our eco-friendly homes have been well-received by the market. To date, Keppel Land has launched about 4,500 units of homes in the Eco-City, of which about 98 percent have been sold,” said Keppel Land China president Ben Lee.

“A further 346 units of homes will be launched in 2019. We are confident that our new development will continue to attract home buyers seeking well-located and high-quality green homes.”

Keppel Land does not expect the transaction to materially affect the group’s net tangible assets per share or earnings per share for the current financial year.

Read our Step-by-Step Guide to buying a condo.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

PropertyGuru Asia Property Awards (Malaysia) judges, organisers and main sponsors on the red carpet this year.

The sixth annual edition of the PropertyGuru Asia Property Awards (Malaysia) called on the general public to make their nominations for 2019’s best property developers and projects within the Klang Valley, Iskandar and Penang.

Nominations will close on 22 February 2019.

Site inspections for the nominated projects would be conducted between 4 to 14 March 2019, while final judging would be made on 21 March next year.

Winners will be presented their awards at an exclusive gala dinner to be held on 12 April 2019 at the Majestic Hotel Kuala Lumpur.

Open categories include Best Condo, Best Township, Best Mass Market, Best Landed and Best Mixed Use Development.

Special award categories for Sustainable Development and Corporate Social Responsibility as well as Public Facility – which is open to infrastructure projects or facilities spearheaded by the public sector – will also be given out.

Supported by PropertyGuru Malaysia, the PropertyGuru Asia Property Awards (Malaysia) is known for its fair, credible and transparent judging process.

Next year, the independent judging panel will be chaired by returning head judge Prem Kumar, Jones Lang Wootton‘s executive director.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

24 Middle Gap Road in Hong Kong. Photo: Landscope Christie’s

Ageing but prestigious address in Hong Kong country park poised for record-breaking sale.

By Property Report

The Peak in Hong Kong continues to represent the dizzying heights of residential real estate.

Landscope Christie’s International Real Estate is listing a four-bedroom house in the Hong Kong neighbourhood for HKD3.5 billion (USD446 million), potentially eclipsing the HKD2.1-billion sale of a property at 15 Gough Hill Road, also in the Peak, in 2016.

The home at 24 Middle Gap Road shatters the record asking price of EUR350 million set last year by the century-old mansion Villa Les Cedres along the coast of Saint-Jean-Cap-Ferrat in France.

Completed in 1991, the Middle Gap Road home has been the property of Chuang’s Consortium International Ltd since 2004. The purchase price was then estimated at HKD142 million, according to Land Registry documents via Bloomberg.

More: Meet Hong Kong’s smartest architect

“The house is quite old. If they are going to pay that much, they would probably knock it down or put another nicer house,” Lawrence Brown, a senior consultant at Executive Homes Hong Kong Ltd, commented.

The 5,750 sq ft house sits amidst the dense woods of Hong Kong’s country parkland. The residence offers southside sea views in addition to vistas of wild greenery.

A maid’s room and utility room are included, along with 4.5 bathrooms.

The 16,330 sq ft plot hosts a “sizeable” swimming pool plus two covered car parks. The garden alone sprawls for 7,146 sq ft.

See a few more images of 24 Middle Gap Road, courtesy of Landscope Christie’s:

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

The Forest City development in Johor was recently criticised for being heavily marketed to Chinese buyers and other foreigners.

Malaysia’s Finance Minister Lim Guan Eng clarified that while foreigners are welcome to acquire properties in Malaysia, the government is against projects built solely for foreign buyers, reported the Business Times.

“Let me be clear that our Prime Minister (Mahathir Mohamad) does not oppose foreigners buying properties in Malaysia, but when townships are built exclusively for foreigners, how does that benefit the country and Malaysians? This, the government will not accept,” Lim was quoted as saying in his keynote speech at the 2018 Annual Property Developers Conference.

Interested in buying overseas property? Read our guides.

Although Lim did not name any specific project, Dr Mahathir recently criticised the Forest City development.

Built on four man-made islands in the Johor Strait and facing Singapore’s Tuas, the development, which is led by China’s Country Garden, had been heavily marketed to Chinese buyers and other foreigners.

Earlier this month, Dr Mahathir said foreigners can acquire residential units at Forest City but would not be issued visas to live in the country.

Lim noted that no country would allow the construction of housing projects primarily aimed at foreign buyers.

“Don’t worry,” he said. “We are not preventing foreigners from buying your projects. After all, the projects are open and available to everyone, Malaysians and foreigners. Foreign buyers buying property is not a problem. We welcome that because, after all, they are bringing money into Malaysia,” he said.

Home buyers looking for Overseas Properties may like to visit our Listings and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

The proposed development in China will comprise over 1,700 apartments and 50 shops.

A subsidiary of Keppel Corp has partnered with Gemdale Corporation to jointly develop an 8.8ha prime residential site in Nanjing, China.

This comes after Keppel Land China entered into a share purchase agreement (SPA) with Gemdale Corporation’s subsidiary to acquire all the shares in Eternal for RMB1.414 billion ($283 million).

Interested in buying overseas property? Read our guides.

Eternal owns a 40 percent stake in Nanjing Jinsheng, the project company that will undertake the proposed development of the residential site. The other 60 percent stake is owned by the Gemdale group of companies.

Located within the Nanjing Jiangbei New Area – which is Jiangsu Province’s only national-level new area – the site has a permissible gross floor area (GFA) of 193,139 sq m.

In an SGX filling, Keppel revealed that the proposed development will comprise 1,728 high-rise apartments as well as 50 units of street-front shops. It expects to launch Phase 1, comprising 787 units, in the fourth quarter of 2018, and to complete the entire project by the second quarter of 2022.

“Our entry into Nanjing is in line with the company’s strategy to expand our presence in the Yangtze River Delta region,” said Keppel Land China president Ben Lee.

“Leveraging Keppel Land’s international experience and track record, as well as Gemdale Corporation’s strong local knowledge and deep insight into the Nanjing market, we are confident that the new development will attract home buyers who seek well-located, quality and thoughtfully designed homes.”

Keppel does not expect the transaction to materially affect its earnings per share and net tangible asset per share for the current financial year.

Home buyers looking for Overseas Properties may like to visit our Listings and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source: Horizon Hills

Special Advertising Feature

Are you looking for your dream home but need just a little more time to save up? Or, are you a home owner keen to upgrade, but concerned that a rushed sale would net you with less profit?  

With Horizon Hills’ new Stay Then Pay Programme, we offer the perfect solution with the flexibility you need to move into your new home as quickly as possible.

During the tenancy, you will have ample time to plan your finances. The programme gives buyers the chance to save on loan interest during the ‘stay’ period. It also gives owners the extra time they need to sell their homes to potentially secure a better price. In addition, owners can choose to invest by immediately maximizing on rental returns by leasing out the new unit.

Horizon Hills is proud to introduce this highly advantageous programme for its completed condominium, D’Suites’ Tower C’s remaining 124 units. Under this special programme, home-buyers only need to make a 10% upfront payment and move into the unit within four weeks. You can also enjoy a special 23% move-in incentive while living in the unit with the remainder amount due two years later. For foreign purchasers, there will be a down payment of 20%.

D’suites offers modern high-rise living within the secured and nature-inspired surrounding of Horizon Hills. Striking a balance of lifestyle, location and community, this prestigious address offers ready amenities and is strategically located amidst a network of expressways, with easy access to downtown Johor Bahru.

Source: Horizon Hills

Indulge in lifestyle facilities at D’suites that includes a swimming pool; a perfect place to unwind in after a hard day’s work. Immerse your mind and body at the Meditation Deck or Sunken Lawn. There’s also the Maze Garden, Reading Pavilion, Karaoke Room, Billiard Room, BBQ Area, Jogging Track, Gymnasium and many more.

Horizon Hills is a low density, integrated and gated township that spans 1,200 acres and boasts a private 18-hole par 72 designer golf course. Furthermore, the Horizon Hills Golf & Country Club has a comprehensive range of five-star facilities. A joint venture between Gamuda Land and UEM Sunrise, Horizon Hills sets a new benchmark for property development in Johor by getting its town-making principles right in its 11 precincts.

In line with the development’s philosophy of “Getting the places right makes the town work”, Horizon Hills consciously creates spaces where people can feel the difference the moment they step into the towns. This is fulfilled by bringing together the key elements of thoughtful master planning, innovative placemaking and sustainable community building.

So, don’t miss out on this opportunity. With Tower A fully sold out and Tower B almost fully sold, Tower C is D’suites final chance to own a home here.

Source: Horizon Hills

Visit our sales gallery or contact our sales staff now for a remarkable living experience! To learn more about our Stay Then Pay Programme, please contact us +607 2323433.

PropNex Realty’s CEO, Ismail Gafoor.

PropNex has entered into a master franchise agreement with PropNex Realty (Vietnam) Company Limited, in line with the group’s regional expansion plans.

With an initial term of 10 years, the franchise agreement comes with an option to renew for another 10 years.

More: PropNex merges with DWG to form Singapore’s largest property agency

The agreement sees PropNex Realty acquiring a 25 percent stake in PropNex Realty Vietnam at a nominal sum of just US$1.00.

The Vietnamese franchisee has a 2,637 sq ft office in Ho Chi Minh City and over 80 salespersons. PropNex has 100 salespersons in Malaysia, 800 in Indonesia and over 7,454 in Singapore.

“With its growing economy and positive forecast of the real estate market, we believe that Vietnam is an important place for PropNex to establish our brand,” said PropNex executive chairman and CEO Ismail Gafoor.

PropNex Vietnam executive director Aidan Wee said he chose PropNex due to its strong brand name as Singapore’s biggest listed real estate agency.

“Alongside its reputation for professionalism and trusted service, PropNex’s emphasis on the professional and personal development of all its salespersons and employees resonates very well with us,” he said.

“With the extensive experience, unconditional support and comprehensive programs developed by PropNex Singapore, we will be able to touch the lives of our Vietnamese salespersons by allowing them to grow and excel in their real estate careers and be champion producers back in Vietnam.”

Find property agents who can help you in your Singapore Property search.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Southeast Asia is ripe for problem-solving, smart-city tech. Visual society/Shutterstock

From emerging champs to agile seedbeds, ASEAN economic centres are ripe test grounds for innovative urban solutions.

By Property Report

Smart city technologies have matured to a point where they are ready to address the most pressing issues related to urbanisation in Southeast Asia, a new discussion paper released this week by McKinsey Global Institute contended.

Opportunities to make the built environment smarter in Southeast Asia are now valued up to USD26 billion, as smart solutions like precast, prefab, and 3-D printing; drone-enabled construction survey; 5-D BIM; and IoT-enabled construction sites continue to gain traction, according to McKinsey estimates.

Meanwhile, the Southeast Asian market for smart mobility applications such as traffic command and control centres; intelligent traffic lights; real-time road navigation; and dynamic smart parking is now worth as much as USD70 billion.

The next generation of smart city technologies can improve many quality-of-life indicators by 10 to 30 percent, the paper noted. “They can save time, improve public health and safety, create a cleaner and more sustainable environment, and foster a sense of community and civic engagement.”

Among other benefits, smart solutions could eliminate up to some 270,000 kilotons of greenhouse gas (GHG) emissions annually — equal to the total emissions generated by Laos.

They can avert up to 5,000 unnatural deaths, equivalent to 50 percent of Malaysia’s yearly total, and reduce the region’s disease burden by 12 million disability-adjusted life years (DALY).

Smart solutions also offer up to USD16 billion in savings on living costs annually as well as save up to eight million man-years in commuting time.

They can also generate up to 1.5 million new jobs, equivalent to up to 30 percent of the workforce in Jakarta, Bangkok, and Manila.

More: For Asia’s super-affluent, luxury now means smart and green

Having installed ultra-high-speed communication networks and many smart applications covering every domain of urban life, Singapore qualified as the only “smart city sandbox” in the region.

Bangkok, Jakarta, Kuala Lumpur, Ho Chi Minh City, and Manila were classed as “prime movers,” cities where simply retrofitting existing infrastructure systems with smart technologies can optimise their performance and extend their lifespan.

The sheer scale of prime movers makes smart city initiatives viable even at modest levels of adoption, unlike “emerging champions” like Cebu, Davao, Hanoi, Phnom Penh, and Yangon which require large-scale investment, especially from private sector partners.  

Both prime movers and emerging champions have “big potential to deliver results and touch millions of lives,” McKinsey stated.

Meanwhile, “agile seedbeds” like Bandar Seri Begawan, Banyuwangi, Da Nang, Luang Prabang, Phuket, Siem Reap, and Vientiane can pilot and scale up smart city applications targeted toward their main industries.

“Because these cities may have swaths of greenfield land, master-planned districts that are built smart from the start can help set a strong foundation,” McKinsey stated.

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

Update: As of 17 July 2020, PropertyGuru Asia Property Awards (Sri Lanka) has withdrawn the accolades for Blue Ocean Group in line with our Terms & Conditions.

A total of 23 awards were given out to 13 real estate companies during the very first PropertyGuru Asia Property Awards (Sri Lanka) held last Thursday (12 July) at Shangri-La Hotel in Colombo.

Prime Group clinched the coveted Best Developer award along with one commendation in the Best Mid End Condo Development category.

Two-time winner Capital TRUST Residencies (Pvt.) Ltd bagged the Best Boutique Developer title, while Maga Engineering (Pvt) Limited received the most number of trophies with four.

Other multiple winners included Home Lands Skyline Pvt Ltd, Blue Ocean Group of Companies and Indocean Developers (Pvt) Ltd, with three trophies each.

Pradeep Moraes, a director at Indocean Developers and current chairman of the Condominium Developers Association of Sri Lanka, was named the first-ever Sri Lanka Real Estate Personality of the Year by the editors of PropertyGuru Property Report magazine.

Sri Lanka’s public sector was also recognised at the inaugural event with the Special Recognition for Public Facility. The Ministry of Megapolis & Western Development received the award for the Beira Lake Intervention Area Development Plan, while the Urban Development Authority (UDA) earned the same for its Urban Regeneration Project.

“Following the successful inclusion of Sri Lanka in the Awards at our grand final last year, we are a delighted to be here in Colombo with what I am sure will be one of our most important annual events in the future. Clearly there is still a long way to go before catching up with neighbouring markets in Southeast Asia, but the progress in the last five years or so has nevertheless being remarkable,” said Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards.

“Developers have much to be proud of in how they are transforming the country and the lives of many Sri Lankan people,” he added.

Main category winners at the 2018 PropertyGuru Asia Property Awards (Sri Lanka) will advance to compete in the regional PropertyGuru Asia Property Awards Grand to be held in Bangkok this November.

The HSR project was postponed in a bid to reduce Malaysia’s ballooning debt of more than RM1 trillion.

Malaysia’s new government confirmed that it has not yet informed Singapore of its decision to postpone the Kuala Lumpur-Singapore High Speed Rail (HSR) project.

In an interview with Channel NewsAsia, Prime Minister Mahathir Mohamad said “it’s not so urgent” to inform Singapore of its decision.

More: High Speed Rail Not Scrapped, Just Postponed: Mahathir

“Sometimes we make public statements without actually finalising the process. When we want to make a decision we don’t wait until we inform Singapore, we just say something. Of course they would want to know, and we will inform them in time,” he explained.

The Malaysian government decided to postpone the HSR project in a bid to reduce its ballooning debt of more than RM1 trillion.

Last month, Singapore said it was still waiting for the official notification from Malaysia regarding its decision on the project.

The 92-year-old leader believes that problems between the two countries that may arise from the decision could be resolved.

“I think whether we like it or not, Singapore is our closest neighbour and we have a common history. Whether we like it or not, we have to live with each other. There will be little problems, conflicts and all that, (but) we’ll resolve them.”

Meanwhile, Malaysia will review the “ridiculous” prices at which the country is selling water to the city-state, which currently stands at RM0.03 per thousand gallons.

“That was okay way back in the 1990s or 1930s. But now what can you buy with (RM0.03)? Nothing,” noted Mahathir.

With this, he revealed plans to study Malaysia’s agreement with Singapore and make a presentation on the water accord, which is slated to expire in 2061.

Interested in buying property in Jurong, the proposed location of the Singapore terminus of the HSR? Check out our step-by-step guide to buying a condo.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

CapitaLand Vietnam picked up the Best Developer prize at the PropertyGuru Vietnam Property Awards 2018 for the second time consecutively.

Singapore-based CapitaLand has again picked up the Best Developer prize at the PropertyGuru Vietnam Property Awards 2018 held in Ho Chi Minh City on Friday (22 June).

The property developer’s Vietnamese subsidiary won the coveted title for the second time consecutively. Aside from being the only developer to receive all five special recognitions, it clinched 14 major awards and three commendations, exceeding last year’s tally of six and five respectively.

More: PropertyGuru Asia Real Estate Summit returns in Nov 2018

Its D’Edge project was named the Best Luxury Condo in Ho Chi Minh City and in the country, while De La Sol was honoured as the Best High-End Condo in the capital and the overall Best Green Development.

“For more than two decades, CapitaLand Vietnam has proven itself a leader in building top-class residential and commercial developments that serve its consumers well. Year after year the company has produced attractively-priced condominium and retail projects, many of them incorporating green, sustainable, wellness-inspired, and state-of-the-art features,” said the panel of judges led by renowned architect Thien Duong, who is also the managing director of Transform Architecture.

Meanwhile, Vietnam-based developer KIEN A Corporation bagged six accolades, with Citiesto lauded as the capital’s Best Affordable Condo, while Lavila De Rio was crowned Best Luxury Housing Development in Ho Chi Minh City.

The firm’s founding chairman Dr Huynh Ba Lan was also chosen as Vietnam’s Real Estate Personality of the Year by the editors of PropertyGuru Property Report magazine, for helping to construct world-class school buildings in Phú Yên province. The award was presented by PropertyGuru’s chief marketing officer Bjorn Sprengers.

Overall, 43 major trophies were handed out to 26 developers during the awards ceremony attended by over 500 guests. The prestigious event was supported by platinum sponsor Kohler along with four co-sponsors – Malloca, An Cuong, Dulux Professional and Electrolux.

Vietnam’s property market continues to be vibrant, with the country’s millionaire population quadrupling since 2004 and its middle-class forecasted to hit 33 million by 2020.

“This year’s edition validates yet again the strong performance and growth of the Vietnamese real estate sector, which is highly regarded as one of the most attractive markets in the Southeast Asian region today,” said PropertyGuru Group CEO Hari V. Krishan.

“Congratulations to all the Winners and Highly Commended companies for contributing to the flourishing Vietnamese property sector,” added Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards.

Read the full list of winners and highly commended recipients here.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Group photo of the judges at the 2017 Grand Final gala in Singapore.

Update: As of 17 July 2020, PropertyGuru Asia Property Awards (Sri Lanka) has withdrawn the accolades for Blue Ocean Group in line with our Terms & Conditions.

More than a dozen companies have been shortlisted for the 2018 PropertyGuru Asia Property Awards (Sri Lanka), which will be held for the first time in Colombo on 12 July.

Last year’s Best Developer winner, Blue Ocean Group of Companies received seven nods, including nominations for the Best Affordable Condo Development, Best Mid End Condo Development, and Best Condo Interior Design. The company received two trophies and two commendations at the 2017 PropertyGuru Asia Property Awards Grand Final ceremony held in Singapore.

More: PropertyGuru Asia Real Estate Summit returns in Nov 2018

This was followed by Maga Engineering with five nominations as well as Capital TRUST Residencies and Walkers CML Properties with four nods each.

Other finalists that received multiple nominations include Home Lands Skyline with three nominations and Indocean Developers (two nominations).

Indocean Developers’ director Pradeep Moraes has been named by the editors of PropertyGuru Property Report magazine as the first Sri Lanka Real Estate Personality of the Year for his efforts to raise the local real estate sector’s standards and for his work as chairman of the Condominium Developers Association of Sri Lanka.

“Post-war Sri Lanka has seen a huge development in the real estate sector. There are a lot of rapid developments and I think this is a brilliant time to showcase Sri Lankan real estate, capabilities, and design competency at a regional level,” said Paramount Realty CEO Dr Nirmal de Silva, who will once again serve as this year’s head judge.

With Sri Lanka’s Megapolis and Western Development Minister Champika Ranawaka set to deliver the keynote address, the black-tie gala dinner at the ballroom of Shangri-La Hotel, Colombo is expected to be attended by some 300 guests and members of the press.

The main category winners will compete in the regional PropertyGuru Asia Property Awards Grand Final that will be held for the first in Bangkok in November.

Read the full shortlist of nominees here.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

View from the Auckland Sky Tower. mbrand85/Shutterstock

Singapore nationals to be exempted from controversial law banning home sales to foreigners.

By Property Report

The New Zealand government has announced that Singapore will be a “carve-out” nation, granting citizens in the Southeast Asian city-state the right to buy property in the archipelago, Stuff reported.

Singapore nationals will join Australians and certain types of visa holders in an exemption from a controversial bill seeking to ban sales in the Kiwi residential property market to foreigners.

Deputy Prime Minister Winston Peters noted that New Zealand has a side-letter agreement with Singapore if denizens from the latter begin buying homes at such significant quantities.

Proponents behind the bill have imputed declining affordability in Kiwi homes to a large presence of foreign speculators in the market.

In addition to exemptions for Singaporean buyers, the Kiwi government announced it would relax provisions of the foreign buyers ban for apartment seekers, a move Peters called a “smartening up” of the law.

As suggested by members of the Finance and Expenditure Committee, the bill will allow foreign buyers to keep apartments bought off-plan, as long as the units are part of a project with 20 or more units.

More: It’s a ‘hiatus’ for the Auckland housing market

The bill originally called for foreign buyers to sell the apartments once the building was completed.

Up to 60 percent of apartments may also be purchased by offshore buyers under the new provisions.

Trade Minister David Parker acknowledged that the the ban, in its original language, could have hurt investment in new housing in Auckland.

“We’ve decided that if they are multi-storey apartment they can be held for leasing but not owner-occupying,” Parker said.

Local and international bodies have criticised the ban, with the IMF calling it “discriminatory”.

The Real Estate Institute of New Zealand expressed some measured enthusiasm over the new rules.

“We welcome the fact that the Select Committee has listened to some of the criticisms around restrictions on off-the-plan sales,” the institute’s chief executive Bindi Norwell said.

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

Dr Mahathir said Malaysia needs to rethink the 350km rail project.

Malaysia’s Prime Minister Tun Dr Mahathir Mohamad clarified on Monday (11 June) that the Singapore-Kuala Lumpur High Speed Rail (HSR) was not really scrapped, but was instead temporarily delayed, reported the Nikkei Asian Review.

“There will be a need for a HSR in the future, probably right through the peninsula. But we cannot afford it at this moment. So, we actually postponed the implementation of the project,” he said.

More: 3 Reasons Why Scrapping The HSR Project May Be Bad For Jurong

He shared this when asked by the Japanese publication if the Malaysian government is willing to consider if Singapore negotiates for a scaled-down version of the HSR.

However, Mahathir reiterated that the new Pakatan Harapan government needs to closely look at the 350km rail project, which he estimates to cost RM110 billion (S$37 billion), amidst the huge federal debt of more than RM1 trillion (S$337.9 billion).

“High-speed trains are most effective where the distance is very long. But where the distance is short, it doesn’t contribute much. So we need to rethink HSR. We cannot say we will never have HSR in Malaysia,” he noted.

Meanwhile, Malaysia’s Transport Minister Anthony Loke revealed that he, along with Finance Minister Lim Guan Eng and Economic Affairs Minister Mohamed Azmin Ali, will go to Singapore to discuss the HSR.

Malaysia and Singapore had signed a bilateral deal in December 2016 to undertake the ambitious project, which was anticipated to reduce travel time between the city-state and Kuala Lumpur from four hours by car to only 1.5 hours.

Interested in buying property in Jurong, the proposed location of the Singapore terminus of the HSR? Check out our step-by-step guide to buying a condo.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

US President Donald Trump and Supreme Leader of North Korea Kim Jong-Un met in Singapore on 12 June. kirkchai benjarusameeros/Shutterstock

Diplomatic talks have seen this little-known Chinese town enjoy a boom in interest.

By Property Report 

Amidst yesterday’s historic summit between US President Donald Trump and North Korean leader Kim Jong-un in Singapore, a developer from the city-state is cashing in on a residential realty project hundreds of miles away in the hermit kingdom.

The 2,400-unit Singapore City condominium project saw its strongest sales yet in six years in the run-up to the highly anticipated meeting on Tuesday (12 June), Reuters reported.

The development is in the Chinese city of Dandong, the site of fiery home price increases attributed to Kim’s overtures to Beijing and Seoul over the last few months. The city lies by the Chinese-North Korean border.

The firebrand American leader landed in Singapore on Sunday night ahead of talks with Kim that could presage the end of the nuclear stand-off between the US and North Korea. Trump had cancelled the summit last month.

More: Inter-Korea summit sweeps this Chinese border town into real estate frenzy

Unit prices in Singapore City now hover at around CNY6,000 (USD940) per square metre, up from CNY4,000 per square metre in 2015.

Kim’s announcement in April that North Korea would begin a tentative process of denuclearisation in pursuit of economic growth had an immediate effect on demand for Singapore City. By May, the project moved 587 units, four times sales in April, according to TC Koh, group managing director of developer Brothers (Holdings).

“Suddenly everybody came in. From that time onwards we started selling 30-40 units a day,” he said. 

After breaking ground in 2008, the project saw sales of less than a hundred units per annum in the last five years.

Koh is looking forward to a positive upshot from the summit. “If it’s a failure then we’ll have a problem. All the investors will run away,” he told Reuters.

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

PropertyGuru will partner with Chinese online marketplace 58.com’s real estate arm, Anjuke.

More developers from China will be put under the limelight at the PropertyGuru Asia Property Awards, after the organiser of the prestigious event inked an exclusive partnership deal with Chinese online marketplace 58.com’s real estate arm, Anjuke.

“Being Asia’s most reputed and trusted property awards, it is only befitting that we expand this platform to China. As Southeast Asia’s largest online property company, it was a natural choice for us to partner with China’s leading online marketplace 58.com and their leading property business,” said Hari V. Krishnan, CEO of PropertyGuru Group.

More: Singaporean Companies Ink 14 Belt And Road Deals In Zhejiang

Under the agreement signed in Shanghai on Wednesday (6 June), Anjuke.com was named as “Associate Partner” of the 2018 PropertyGuru Asia Property Awards. Both parties also agreed to team-up to honour the best real estate developers and projects from mainland China.

“Partnering with PropertyGuru allows us to promote the best of what mainland Chinese real estate developers have to offer at pan-Asia’s leading property awards platform,” said Anjuke’s COO Jeff Ye.

“This represents the next stage of the Asia Property Awards programme, as it continues to give residents of Asian countries more choice of quality homes than they have ever had before,” noted Terry Blackburn, founder and managing director of PropertyGuru Asia Property Awards.

Aside from promoting Asia’s top property developments, the exclusive partnership also aims to connect Chinese buyers to fast-growing real estate markets in the region.

Previously, developers from Greater China, including the mainland, Hong Kong and Macau were first recognised at the awards in 2014. Then in 2017, award categories from these places were incorporated into the Grand Final ceremony.

Nominations of developers from mainland China, Hong Kong and Macau for the 2018 awards are now being accepted until 17 August via this website.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Last year’s Best Developer awardee CapitaLand has received 16 nominations. 

A total of 25 companies have been shortlisted for the annual PropertyGuru Vietnam Property Awards 2018, with CapitaLand Vietnam leading the nominees.

Last year’s Best Developer awardee CapitaLand received 16 nominations, including two nods for Best Green Development as well as for outstanding Condo, Housing, Retail and Mixed-Use Development.

More: LBS Bina Group Crowned Malaysia’s Best Developer

Alpha King emerged as the second-most nominated developer with 13 nods, while Gamuda Land and KIEN A Corporation were tied in third place with eight nominations each.

KIEN A Group’s founding chairman Dr Huynh Ba Lan has also been named by the editors of PropertyGuru Property Report magazine as the Vietnam Real Estate Personality of the Year, for his efforts to produce quality projects for lower-income consumers and build schools that follow international standards.

Surpassing the number of awards given out last year, the 2018 programme features 43 categories, including new awards like Special Recognition for Building Communities, for Customer Care and for Design and Construction.

“I think there has never been another time in history where the country is developing at such an accelerated pace,” said Transform Architecture managing director Thien Duong, who also serves as third-term chairman of the independent judging panel.

“Our local property market has continued to grow in every price range from affordable to luxury. The market has matured considerably within a very short period of time due to more competition from more experienced foreign developers as well as local developers maturing and learning industry best practices from their overseas partners.”

Meanwhile, the winners and highly commended recipients will be revealed at a gala dinner on 22 June at the InterContinental Saigon Hotel. Touted as the biggest edition yet, the black-tie ceremony is expected to be attended by close to 500 guests and members of the press.

Read the full shortlist of nominees here.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Xihoumen bridge in Zhejiang province, China. lightrain/Shutterstock

Some of Singapore’s biggest developers sign MOUs to develop townships in the Chinese province.

By Property Report

Singapore-based companies signed no less than 14 agreements with mainland Chinese firms recently at a trade meeting aimed at deepening the city-state’s commitment to the Belt and Road initiative.

Some of the biggest Singaporean developers were in attendance at the 13th Singapore-Zhejiang Economic and Trade Council (SZETC) gathering of high-level stakeholders in various sectors from real estate and logistics to e-commerce.

Singapore’s Senior Minister of State (SMS) for Culture, Community and Youth & Trade and Industry Sim Ann, who co-chaired the meeting with Zhejiang Vice Governor Zhu Congjiu, called the 14 MOUs (memorandums of undersanding) a “testament to Singapore’s continued strong interest” in Zhejiang.

“As a global maritime, logistics and energy hub, Singapore and our companies are well-placed to partner Chinese firms to contribute to the development of the China (Zhejiang) Pilot Free Trade Zone,” she said. “In addition, Singapore’s position as a key node along the Belt and Road makes us an ideal partner for Zhejiang enterprises expanding to Southeast Asia.”

More: Cooling measures in Hong Kong vs Singapore

The gathering was designed partly as an opportunity for Zhejiang officials to facilitate urban-rural development reforms in the province, the fourth-biggest in mainland China in terms of GDP which grew 7.8 percent last year.

Singaporean property development giants CapitaLand, Surbana Jurong and Mapletree figured in the deals that sought, among others, to build more urban townships around the province.

Among the most notable MOUs is a joint venture between CapitaLand, Surbana Jurong, and Zhejiang Communication Investment Real Estate Group to build a masterplanned community around Jiaxing’s high-speed rail line.

Bilateral trade between Singapore and Zhejiang was valued at $5.2 billion in 2017, up 24 percent over the year.

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

More than 20 awards were handed out to developers with outstanding projects across Malaysia.

LBS Bina Group was named the Best Developer at the PropertyGuru Asia Property Awards (Malaysia) held at the InterContinental Kuala Lumpur hotel on Thursday evening (26 Apr).

This marks the first time that the company received top honours at the prestigious event after taking home two accolades last year.

More: Demand Remains High For Malaysian Property

“Following a highly successful year that marked its highest sales achievement on record despite very challenging market conditions, LBS Bina Group deservedly warrants recognition and praise from the industry, as well as from consumers who enjoy their quality townships and mass market developments,” said the judging panel.

Other big winners at the Awards, which was attended by some 350 guests, included OCR Group unit OCR Land Holdings, which was named Best Boutique Developer.

The editors of PropertyGuru Property Report magazine also chose UEM Sunrise managing director and CEO Anwar Syahrin Abdul Ajib as Malaysia’s Real Estate Personality of the Year for his contributions to the country’s property market.

“With masterfully-designed projects such as the award-winning Almás @ Puteri Harbour mixed-use development in Johor, Anwar’s team remains committed to the development of Malaysia’s southern region with their range of affordable and high-end properties,” the editors said.

Overall, more than 20 awards were handed out to developers with outstanding projects in Kuala Lumpur, Klang Valley, Penang and Iskandar Malaysia.

In his keynote speech, PropertyGuru Group CEO Hari V. Krishnan congratulated the winners and highly commended recipients for their hard work to build top-notch projects despite the challenging market conditions.

“All the shortlisted Malaysian developers have demonstrated ambition, quality talent and passion. Through a rigorous, supervised judging process that sets the awards apart, we are proud to award these outstanding teams as they pursue greatness and elevate industry standards ultimately for the benefit of consumers. They are a true example of excellence in any industry, and we’re proud to stand by them,” he said.

Read the full list of winners and highly commended recipients here.

For the latest property news, trends, resources and expert opinions, visit our Property News page. Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

More than 25 awards will be presented this year, including the highly coveted Best Developer prize.

A total of 19 companies have been shortlisted for the 2018 PropertyGuru Philippines Property Awards, with Megaworld Corporation leading the nominees.

Two-time winner of the Best Developer award, Megaworld Corporation received a total of eight nominations, including nods for its subsidiaries Global-Estates Resorts Inc. (GERI), Empire East and Suntrust Properties. It is also the only shortlisted company in two new Best Township Architectural Design and Best Township Development categories.

More: Nominations Open For PropertyGuru Philippines Property Awards 2018

SM Keppel Land Inc received seven nominations for its mixed-use complex The Podium, which includes shortlists for retail, office, landscape design and green development.

Several developers with projects in Iloilo and Metro, such as ArthaLand Corporation and its Cebu Lavana Land Corporation subsidiary, as well as a few emerging developers and companies, like Crown Asia Properties, D.M. Wenceslao & Associates, Exquadra, Grand Taipan and Posco, also made the cut this year.

Jaime A. Cura, PhD, vice-chairman of The RGV Group of Companies, and chairman of the judging panel, attributed the inclusion of emerging companies in the shortlist to the underlying strength of the Philippine real estate sector.

“The Philippines has an active market with quality projects in all segments of the real estate sector. There is healthy competition among a growing number of developers. Besides the big players who dominate the market, there are new entrants almost every year who aggressively launch several projects at a time,” he said.

The developers will be recognised as winners and highly commended recipients at a gala dinner to be held on 11 May at the Fairmont Makati, where over 25 competition and special awards will be given out.

Read the full shortlist of nominees here.

For the latest property news, trends, resources and expert opinions, visit our Property News page. Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

There was keen interest for the first landed luxury prefabricated development in Sunway Iskandar at PropertyGuru’s recent Malaysia Property Show.

By Mindy Chong

More than 300 local and overseas property investors visited PropertyGuru’s Malaysia Property Show held on 14 and 15 April at The St. Regis Singapore.

With the news on Budget 2018 and signs of a market correction in Malaysia, the event attracted attendees looking for the latest updates from industry experts.

More: Works To Begin Next Year On Singapore End Of High Speed Rail

Arvind, an attendee, shared that the seminar was very informative as the speakers shared insights on how the Kuala Lumpur-Singapore High Speed Rail (HSR)and Malaysia-Singapore Rapid Transit System (RTS) may impact Malaysia’s property market.

The seminar began with a presentation on flagship projects to look out for such as Tun Razak Exchange, Bukit Bintang City Centre and Bandar Malaysia by Amy Wong, head of research & consultancy at Savills Malaysia. She noted that the outlook for Malaysia remains good with the “One Belt, One Road” initiative.

Other topics included the legal framework on strata-titled properties, the development of Japan’s first pre-fabricated homes in Sunway Iskandar, and a Q&A session on how to finance your property purchase. Attendees also got to ask experts about the prospects for Iskandar properties, and on hot topics such as blockchain, cryptocurrencies and market evolvement during the panel discussion.

Daiwa Sunway Development, Fuyuu Ventures, Goldmart, Horizon Hills Development, Matrix Concepts Holdings, Sunway Iskandar and Sime Darby Brunsfield Resort were among the exhibitors.

Jason Loke, sales & marketing manager of Matrix Concepts Holdings, said upcoming projects such as the HSR and MRT connectivity will bring Malaysia’s property sector to the next level.

Darvin Kurniawan, co-founder of REIDAO, said that property prices in Malaysia are more affordable compared to other countries in the region and the market remains relatively bullish.

“We have different ownership policies for foreigners purchasing properties in different states. The Malaysia Property Show helps people gain a better understanding of each market and make informed buying decisions,” said Kit Au-Yong, a registered valuer, estate agent, property manager and auctioneer at Laurelcap.

The Malaysia Property Show is one of PropertyGuru’s flagship events started seven years ago. Attendees also got to enjoy free wine tasting and light refreshments, and walked away with complimentary door gifts.

If you missed the show, please watch our video at bit.do/mpsapril2018videos. The next Malaysia Property Show takes place on 8 and 9 September. Visit www.pgevents.propertyguru.com.sg/ for more details.

Skyline of Kuala Lumpur, Malaysia.

Malaysia Property Show kicks off this weekend with a compelling range of seminars and project exhibits.

By Property Report 

Leading market observers and serial investors will converge at the St. Regis Hotel Singapore on 14 and 15 April for the Malaysia Property Show that will delve into pressing issues affecting the peninsula and beyond. 

The show is also an opportunity for home buyers to compare the best projects from established developers across all Malaysian states, with opportunities to get priority on competitive deals from exhibitors. 

Various seminars will guide attendees on what and how to invest in the Malaysia real estate market. Savills Malaysia’s head of research & consultancy Amy Wong will kick off the first day with a talk on current flagship projects in the country. 

Many of the seminars aim to provide a balanced outlook for the Malaysia property industry this year and help with attendees’ buying decisions. Sessions will touch on, among others, the impact of Budget 2018 on the real estate sector; the property freeze and its effect on buyer’s sentiment; the growth in the sub-sales market; and the Iskandar revival. 

More: This is your chance to catch smart building architect Ron Bakker in Bangkok

Foreign attendees will also have opportunities to learn about financing loans and investment options and gain insights on the most opportune and riskiest realty segments in the country. 

Mortgage consultants and property lawyers will be on hand to answer participants’ most burning queries on financing and strata titles. 

The two-day affair will end with a panel discussion on the future of real estate investment, with help from familiar faces at the Asia Real Estate Summit. Moderated by Julian Kwan, founder and CEO of online real estate capital marketplace InvestaCrowd, the discussion will centre on such hot topics as blockchain, cryptocurrencies, and market evolvement. 

Panelists include KK Goh, co-founder & director of Awesome Alliance; Darvin Kurniawan, co-founder of REIDAO; and Elizabeth Siew, co-founder of LEPRO System.

For more information on the show, log on to pgevents.propertyguru.com.sg/event/mpsapril2018/

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

The Belt and Road Initiative involves the construction of roads, ports, railways and industrial hubs to connect around 65 countries across Asia, Africa and Europe.

Singapore signed an agreement with China on Sunday (8 Apr) to improve cooperation on the latter’s ambitious Belt and Road Initiative (BRI), reported the Straits Times.

Under the memorandum of understanding (MOU), the Ministry of Trade and Industry and Enterprise Singapore will team up with China’s National Development and Reform Commission to identify markets and sectors where both countries are keen to do business and organise activities to promote collaboration between firms from both nations.

More: 5 Things To Know About China’s One Belt One Road

This partnership includes infrastructural and financial connectivity, as well as collaboration in other countries, including joint training for officials from nations involved in BRI. Both governments will also join forces with other organisations to provide financing for businesses and projects in other countries.

The MOU signing held at the Diaoyutai State Guesthouse was witnessed by Chinese Premier Li Keqiang and Prime Minister Lee Hsien Loong on Sunday. The event was held during the first day of PM Lee’s visit to China.

“Singapore’s strength as a key infrastructure, financial and legal hub in the region will add value to Chinese companies expanding along the Belt and Road,” noted Minister for Trade and Industry Lim Hng Kiang.

Announced by Chinese President Xi Jinping in 2013, the BRI involves the construction of roads, ports, railways and industrial hubs to connect around 65 countries across Asia, Africa and Europe that creates a trade network similar to the ancient Silk Road.

For the latest property news, trends, resources and expert opinions, visit our Property News page. Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

While their interest in overseas property has largely slumped, investors from the Middle Kingdom remain key to sales strategies in neighbouring markets.

By Steve Finch

The flag-waving Chinese tour guides that flood Bangkok’s Suvarnabhumi and Don Mueang airports typically follow a tightly marshalled route around Thailand. 

Nearly all are herded onto buses and out of the capital to Hua Hin or Pattaya, just a few hours away. Many then catch a flight to Chiang Mai or Phuket. Some 9.5 million Chinese were expected to visit Thailand in 2017, according to the Ministry of Tourism – a staggering increase on the less than three million than visited only five years ago. 

“Much of the sales in Thailand are riding on the back of tourism,” says Cobby Leathers, head of international business at Sansiri, a leading Thai developer, which opened three new China offices this year. “One thing that stands out with our Chinese buyers is that we see them purchasing across all of our key local markets, namely Chiang Mai, Bangkok, Hua Hin, Pattaya and Phuket.”

Although Chinese property portal Juwai.com reported that growth in Chinese inquiries across all markets slowed this year after Beijing began strictly enforcing controls on cash flows out of the country, Southeast Asia – and particularly Thailand and Vietnam – are still prime quarry for investors from the Middle Kingdom.

Thailand jumped three places to third on the list of top destinations for Chinese buyers in the second quarter – only the US and Australia rank higher – while Vietnam has made a surprising leap in popularity as a property investment destination among mainlanders. 

Enquiries for Vietnam by Chinese grew a staggering 442 percent between January and May in 2017, Juwai.com data shows. Although geographically close, Vietnam was the subject of a flurry of negative headlines in China the year before after anti-Chinese riots over a territorial dispute in the South China Sea left more than 20 people dead and over 100 injured. 

More: What you need to know about Asia’s final frontiers

Although many Chinese cancelled their holidays to Vietnam in the immediate aftermath, three years on and the negative sentiment appears to have somewhat subsided, according to Juwai.com’s CEO Carrie Law.

“There is always some impact, because angry headlines tend to make some buyers cautious. However, buyer demand has nonetheless continued to grow strongly,” she says. “Vietnam has catapulted from the thirty-third most popular country for Chinese international property buyers to the tenth over the past two years.”

Newly relaxed property laws have proven a major market incentive. In 2015, the central government passed a law that means anyone with a valid visa can now buy property with a lease of up to 50 years. Previously, foreign buyers were required to hold a work visa and had to have already lived in the country for one year. 

Aside from Thailand, only Malaysia ranks higher than Vietnam in terms of Chinese interest, but it’s been a mixed year for property sales on the Malay Peninsula. 

Although analysts report robust Chinese demand, particularly in Kuala Lumpur, the huge Chinese developments in Johor at Iskandar facing Singapore – dubbed the ‘next Shenzhen’ – have reportedly faced sluggish demand as buyers have struggled to get their yuan out of the country amid tighter controls by Beijing. 

Forest City by Country Garden – the biggest of them all with 700,000 new inhabitants targeted by 2050 – has faced the bulk of negative headlines as many Chinese buyers desperately try to recoup their deposits after struggling and failing to make payment instalments.

Areas such as Johor in Malaysia have gone the extra mile to attract Chinese investment by easing the way for joint venture developments.

Country Garden has advertised the project based on the key selling point that it lies just a few kilometres from Singapore, a market which retains appeal for Chinese due to its wealth, stability and Mandarin-speaking population.  

“I think it is important to note that Forest City represents a long-term vision for the region with an expected build-out of 20 to 30 years,” said Michael Grove, director of the Shanghai office of Sasaki which designed the project, which includes four man-made islands.

Singapore, despite its tiny size, itself ranks as the fourth-most popular investment destination in Southeast Asia among Chinese buyers. After that, the archipelago nations of Indonesia and the Philippines come in as the next most popular among Chinese buyers, and then emerging markets Cambodia and Laos.

Chinese have traditionally been heavy investors in Cambodia’s main export industry – garments – building and running dozens of factories on the outskirts of Phnom Penh, but until recently housing development was dominated by South Korean firms, not Chinese. That’s changing quickly, says Ross Wheble, director of Knight Frank’s Phnom Penh office.

“It’s only over the last 18 months or so that we’ve seen an increasing number of Chinese developers entering the market and thus there has been an increase in the number of Chinese investors buying condominiums,” he adds.

While Chinese visitors may not flock other regional airports in quite the same way they do in Thailand, there’s little doubt that the country’s investors remain intent on planting their flags in property markets around Southeast Asia.

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

More than 20 Malaysian developers will be honoured at an exclusive gala dinner later this month.

The finalists for the 2018 PropertyGuru Asia Property Awards (Malaysia) were announced on Wednesday (4 Apr), with over 20 accolades set to be handed out for the best developers and projects in Kuala Lumpur, Klang Valley, Penang and Iskandar.

Last year’s double winner LBS Bina Group collected the highest number of nominations this year at six. This is followed by Johor Land, OCR Group, Eastern & Oriental and Sime Darby Property, which are tied with three nominations each. Sime Darby Property also won the coveted Best Developer titles in Malaysia and in Southeast Asia two years ago.

https://twitter.com/AsiaPropAwards/status/981771876400750592

The judging panel is led by Jones Lang Wootton’s executive director Prem Kumar, while Negeri Sembilan’s Tunku Ali Redhauddin ibni Tuanku Muhriz is the panel’s honourary president.

Other judges include REI Group CEO Dr. Daniele Gambero, Blaine Robert Design’s creative director Blaine Robert, Tan Chap & Associates senior associate Tan Hui Yin, Perunding ZNA managing director Ir. Dr. Zulhkiple A Bakar, Board of Architects and Town Planners member Boon Che Wee, Nawawi Tie Leung Real Estate Consultants senior manager Sr Low Han Hoe and Ar. Mustapha Kamal Zulkarnain, founder and principal of Arkitek Mustapha Kamal.

Sharing his outlook, Prem Kumar said: “The consensus today is that the Malaysian property market – specifically the residential and commercial sectors – is undergoing a period of consolidation. The stakeholders are all striving towards a quick recovery.”

PropertyGuru Asia Property Awards founder and managing director Terry Blackburn added: “This year’s crop of shortlisted nominees prove that despite market challenges and temporary downturns, developers who are truly invested in the success of the property sector deserved being celebrated.”

The prestigious event is supported by platinum sponsor Kohler, official portal partner PropertyGuru.com.my, media partners Prestige Malaysia, Top10 Malaysia and PropertyGuru Property Report. The Royal Institution of Chartered Surveyors also provided support, while BDO Malaysia supervised the tabulation.

The black-tie awards ceremony will be held at the ballroom of InterContinental Kuala Lumpur hotel on 26 April.

For the latest property news, trends, resources and expert opinions, visit our Property News page. Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Christian Rojkjaer, and Christian Olofsson showcasing the progress of Toppen Shopping Centre, which is situated next to Ikea Tebrau.

Toppen Shopping Centre, the first mall in Malaysia to be anchored by an Ikea store outside the Klang Valley, is slated to open by the third quarter of 2019, reported The Star.

Nestled on a 10.22ha site in the heart of Tebrau, the new shopping centre is expected to boost the economic growth of Johor.

More: Chinese Cash Policy Puts The Squeeze On Ambitious Johor Project

This comes as the new development could generate 5,000 employment opportunities for locals, said Ikea Southeast Asia Managing Director Christian Rojkjaer. Incidentally, Ikea Tebrau is set to be the biggest Ikea store in Southeast Asia.

“Jobseekers can expect employment opportunities from our 300 tenants or be part of the complex management team,” said Rojkjaer.

The completion of the mall will also open business opportunities for local suppliers.

Added Rojkjaer: “As we speak, Ikea Tebrau is currently obtaining its supply of chicken wings from a local supplier and we believe more such opportunities will come with the completion of the shopping centre.”

In a bid to live up to its name, Toppen – which means fantastic in Swedish – wanted to be more than just a place to shop by creating a vibrant environment where people can meet and socialise with family and friends, noted Rojkjaer.

As such, the four-storey mall features retail shops, a rooftop with a community garden, sporting and play areas, a large multipurpose piazza as well as entertainment and dining facilities.

Ikea Southeast Asia shopping centre and mixed-use director Christian Olofsson explained that the new mall, which has achieved a 40 percent take-up rate, would offer a new and improved shopping experience for locals.

“There are certain changes that have to be made in the retail industry in order to catch up with the rise of e-commerce, and for us it is by creating a comfortable and lively meeting place for people rather than just a place for them to shop,” he said.

“It is not so much about e-commerce versus retail but more on how we can successfully merge them together and provide an improved shopping journey for customers.”

Among the upcoming tenants are TGV cinemas, Harvey Norman and Ben’s Independent Grocer, said Olofsson.

This article was edited by the editorial team of PropertyGuru Malaysia. To contact them about this or other stories, email editorialteam@propertyguru.com.my

Group photo of the winners at the PropertyGuru Cambodia Property Awards 2018.

For three years in a row, Borey Peng Huoth Group was named Best Developer at the PropertyGuru Cambodia Property Awards 2018, which was presented by KHI and held last Friday (16 Mar) at the Sofitel Phnom Penh Phokeethra.

It was the first time a property developer has achieved such a distinction in the 13-year history of the Awards.

More: Buzz surrounding Cambodia property

Overall, Borey Peng Huoth Group clinched seven golden trophies and 10 commendations.

“Borey Peng Huoth Group is in a league of its own as a relentless innovator in Cambodian real estate. Being the first developer in the country to utilise technology to promote its properties and to inform consumers, the group understands the power of positive word-of-mouth,” noted the independent panel of judges.

“For every project, whether residential, commercial or mixed-use, Borey Peng Huoth has earned praises from the industry, citing the quality of sustainable design, planning and execution, and site management.”

Other big winners include Creed Group and LIXIN Construction, both of which picked up three awards. Last year’s multiple winner Phnom Penh City Center, on the other hand, took home two awards.

A total of 26 awards were given out at the televised ceremony, which was attended by over 360 guests.

Among the highlights of the event was a brief presentation on labour rights by CARE, the event’s official charity, which handed out a Special Recognition for Positive Construction Practices to Pisnoka International Corporation for providing Cambodian female construction professionals labour protection and training.

The main category winners will advance to the 8th annual PropertyGuru Asia Property Awards Grand Final, which will be held for the first time in Thailand. The ceremony is a co-located event of the two-day PropertyGuru Asia Real Estate Summit at The Athenee Hotel, Bangkok on 8-9 November 2018.

Check out the complete list of winners.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Artist’s impression of Setsu Niseko, a new 150-unit luxury project in Hokkaido. Source: SC Global Developments 

Luxury property developer SC Global Developments has unveiled its first luxury residence in Japan called Setsu Niseko.

Located in the popular ski resort town of Niseko in Hokkaido, the condo hotel will feature 150 luxury apartments that range from studio units to ultra-luxury penthouses.

More: Winter Olympics puts spotlight on Asian ski properties  

The project sits on 2.54 acres (111,000 sq ft) of prime freehold land, which is flanked to the east by Mount Yotei and to the west by Mount Annupuri.

“Set against Niseko’s breathtaking natural landscape, it was important to us that the resort’s identity be rooted in the deep respect for and understanding of the natural environment,” noted SC Global’s chairman and CEO Simon Cheong.

“From this emerged our vision to create architecture and luxurious living spaces that encapsulate the purity and elegant simplicity of the Japanese spirit.”

SC Global is expected to launch Setsu Niseko in the second half of 2018.

Look out for listings of new projects in Japan, or check out other overseas property investment opportunities.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

The world-famous Supertrees at Singapore’s Gardens by the Bay. Zhukova Valentyna/Shutterstock

While their contributions to well-being are priceless, famous green lungs are worth this much relative to home prices.

By Property Report

Some of the most famous parks and gardens in the world have been known to take up prime tracts of land, in exchange for acting as a city’s green lung, spewing oxygen in behalf of inhabitants. Now a new study has calculated just how much they are really worth, relative to average prices of residential properties in their respective locations.

The Golden Gate Park in San Francisco and Central Park in New York were found to have the highest values of any green space on earth, according to the study commissioned and released by retailer Flymo.

Spanning an area beyond 4 million square metres, the Golden Gate Park is valued at over GBP35.5 million (USD49) billion based on prevailing San Francisco home prices at almost GBP9,000 (USD12,000) per square metre. Meanwhile, the iconic NYC park is estimated to be well worth over GBP32.9 billion.

Among Asian parks, Singapore’s Gardens by the Bay emerged as the most expensive, with an estimated value of around GBP14 billion. Tokyo was not far behind at number seven, with the 583,000-square-metre Shinjuku Gyoen fetching GBP5.7 billion.

SEE ALSO: Building a green city

While the locations come out on top, they are not necessarily the most expensive places to buy land. “For example, if Hong Kong’s Kowloon Park were 30 times larger, a similar size to Golden Gate Park, that land would be worth over GBP70 billion,” Flymo researchers noted.

Kowloon Park is valued at GBP2.6 billion, just below the GBP2.7-billion Jingshan Park in Beijing.

The denudation of green space is well-documented in compact city environments around the world, according to a study by the Swedish University of Agricultural Sciences. “The loss of urban green space is rarely matched by the addition of more green space, potentially damaging the social value of these areas for decades to come.”

Here are the world’s top 12 city parks by land value, according to Flymo:

This article was originally published on Property-Report.com. For more stories from Asia’s most trusted and enduring luxury real estate, architecture and design publication, visit Property-Report.com

Artist’s impression of CapitaLand’s first integrated development in Hanoi.

CapitaLand has acquired a 0.9ha prime site for its first integrated development in Hanoi, and has successfully set up its second commercial fund within the country – CapitaLand Vietnam Commercial Value-Added Fund (CVCVF).

The 25-storey integrated development will be located in Tay Ho district, featuring a 380-unit residence including SoHo apartments, about 230,000 sq ft of office space and more than 208,000 sq ft of retail space.

Well connected to both the old and new business districts, the US$217 million (S$287 million) development will be situated near Hanoi’s Noi Bai International Airport, the city’s diplomatic district, new government office headquarters, the expatriate enclave of Xuan Dieu and international schools.

“This mixed-use development allows us to strategically diversify and optimise our Vietnam portfolio with both good trading returns and a strong recurring income stream,” said CapitaLand president and group CEO Lim Ming Yan.

With focus on Vietnam’s Grade A commercial properties, CVCVF – which has a fund life span of eight years – closed at US$130 million (S$172 million).

CapitaLand will own a 50 percent stake in CVCVF, with the rest being held by MEA Commercial Holdings.

“Together with our US$300 million CapitaLand Vietnam Commercial Fund which was set up last year, we are now closer to our five-year target of leveraging private equity funds to grow our assets under management by S$10 billion before 2020,” noted Lim.

Vietnam is CapitaLand’s third biggest market in Southeast Asia, after Singapore and Malaysia. In fact, the company’s gross assets under management in the country stood at S$948 million as at end-December 2017.

“The latest acquisition will expand CapitaLand’s portfolio to 12 residential developments, one integrated development and 21 serviced residences with around 4,700 units, across six cities in Vietnam,” the company revealed in a statement.

Look out for listings of new projects in Vietnam, or check out other overseas property investment opportunities.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Group photo of last year’s winners at the Awards ceremony.

More than 35 accolades are up for grabs at the PropertyGuru Indonesia Property Awards 2018 to recognise the archipelago’s best projects as well as movers and shakers in the industry.

“We are delighted to return to Indonesia to recognise the hard work of developers and benchmark-setting real estate across the country, from Bali to Lombok, Jakarta and Greater Indonesia,” said Terry Blackburn, Founder and Managing Director of the PropertyGuru Asia Property Awards.

The public are now invited to submit their nominations, and qualified entries from developers will be accepted until 3 August 2018. To register a nominee, click here.

Moreover, PTI Architects Managing Director Doddy A. Tjahjadi has been elected as the new chairman of the independent panel of judges. He replaced PT Leads Property Services Indonesia Chief Executive Hendra Hartono, who remains on the committee.

Although Hartono recently told PropertyGuru Property Report magazine that Indonesia’s real estate market remains sluggish, all members of the judging panel expect market activity to pick up over the next few quarters thanks to the completion of new MRT and LRT lines.

Another long-time judge, PT Cushman & Wakefield Indonesia Director Mina Ondang, revealed that developers are leveraging on the growing number of bourgeois households in the country.

“Developers are tapping into Indonesia’s rapidly expanding middle-class, its growing urbanisation and changing lifestyle demands. The population and middle-class are still growing and these are cornerstones underlying demand.”

The fourth edition of the awards will be held at The Ritz-Cartlon Jakarta, Pacific Place on 20 September 2018. The black-tie event is supported by platinum sponsor Kohler, official portal partner and Indonesia’s leading property Rumah.com, media partner PropertyGuru Property Report and official supervisor BDO, a major global auditing and accountancy firm.

The winners will then advance to the 8th PropertyGuru Asia Property Awards Grand Final, which will be hosted by Thailand for the first time. It will be held during the two-day PropertyGuru Asia Real Estate Summit at The Athenee Hotel, Bangkok on 8-9 November 2018.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg