Ong Teck Hui, who will retire at the end of the year, will be replaced by Chia Siew Chuin

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Tmw Maxwell floor plan

JLL is pleased to announce the selection of Chia Siew Chin as the head of residential researchin Singapore. Chia will succeed Ong Teck Hui who is set to retire at the close of the year and will be directly reporting on behalf of the JLL head of research as well as consulting Tay Huey Yang.

TMW Maxwell floor plan is a 13-storey commercial development with a gross plot ratio of 4.3. It measures 41,799 sq ft or 3,883.3 sqm with a potential gross floor area (GFA) of 21,746 sqm.

Chia is joining JLL as a consultant from CapitaLand Development, where she was in charge of strategy and research, providing insights into structural, macroeconomic and important real property trends. She also held leadership positions at CBRE as well as Colliers.

In a press release, announcing this appointment JLL declares that in her newly-created position, Chia will drive thought direction on Singapore’s housing property market and supervise the provision of residential advisory services to clients of JLL. Chia will also be JLL’s spokesperson on Singapore’s residential property market. Singapore residence property market.

“Siew Chuin has a wealth of experience in real estate consulting in addition to research and consultancy for JLL,” says Chris Archibold who is the country manager of JLL Singapore. “Her vast knowledge and expertise in this field will continue to improve JLL’s research capabilities and help us to gain market insights.”

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Villa Harimau is a beachfront home in Batam, Indonesia, that is for sale for US$3.6 million

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Tmw Maxwell launch price

Villa Harimau, a private seaside property located in Batam, Indonesia, is available for sale at US$3.6 million, which is roughly $4.95 million. The property is located on a 30,000 sq feet high cliff estate in Bukit Harimau, just 10 minutes away of Batam’s Sekupang Ferry Terminal.

As per Victoria Garrett, head of residential for Knight Frank Asia-Pacific — who is the one marketing the property The person who owns Villa Harimau is a foreign expatriate in Singapore who acquired the property from his father who was a Singapore permanently resident, who constructed the property to serve as a retirement residence. “The owner of the property is planning to move to Singapore in the UK and therefore is looking to dispose of ownership of this property,” she explains.

TMW Maxwell launch price plot ratio to 5.6 and a GFA of 233,987 sq ft, with 20% reserved for commercial use.

This property is completed the year 2017 and includes a two-storey main house, a separate two-storey guesthouse as well as a separate house for staff.

The main residence comprises six bedrooms, of which two are on the first floor, which includes a kids’ room that is equipped with four bunk beds. The first floor is also home to an open-plan living area and a formal dining room that is a fully-equipped kitchen as well as an extra breakfast space. There is a second living space that is large enough to hold furniture and a small dining set , as also the table for pool. A verandah is also available that extends across the whole length of the home.

One of the main attractions in the property is the 30m infinity pool with stunning views of the sea and the Singapore skyline visible in the distance. The property also features a vast outdoor area with a poolside that accommodates daybeds, lounge chairs as well as an outdoor barbecue pit. A gazebo with an outdoor bar is located into the corner.

The next to the main house is the guesthouse that is separate, that has a view of a huge lawn that has been mown. It is equipped with two en-suite bedrooms, situated at the top and bottom floors, respectively and an kitchenette. The upstairs bedroom connects to a large verandah which the present owner has outfitted with various furniture for the outside.

In addition, the staff residence located on the opposite end of the villa comprises three bedrooms. The house is currently used by personnel employed by the owner of the property.

Contemporary Balinese architecture

Villa Harimau was designed by the renowned Balinese designer Popo Danes. He has been working on several of Indonesia’s most luxurious resorts on islands, such as Samsara Resort Ubud, Lelewatu Resort and Natya Resort Ubud. The architect is also the writer of New Regionalism in Bali Architecture.

In the design of Villa Harimau, Danes focused on combining contemporary architecture with Balinese style elements. “I was awed by it’s site and the location of Villa Harimau from the first moment I laid my eyes on it . I was looking to make sure we could enjoy the view with a unique experience. The architecture was created in a chic tropical style that matched the natural surroundings and local landscape,” he says.

In the same way, the furnishings picked as furnishings for the property provide a comfortable style, resort-style. According to Garrett the interior was totally renovated during the last year using the combination of custom-built Balinese furnishings as well as modern design elements. The kitchen was also revamped and modernized. The interior makes utilization of natural materials like teak bathtubs, wood cabinetry and hardwood flooring in bedrooms. Furniture items are mostly in soft neutral shades.

The furnishings of Villa Harimau are offered for sale to any potential buyer of the property subject to additional discussions.

The Ideal Holiday Home

Garrett expects a high level of interest from prospective buyers for example, hospitality companies who might be interested in operating the house as a luxury boutique holiday property. “It could make an amazing guest house, particularly for those in Singapore seeking a luxurious private getaway,” she says, noting that Batam is a mere 45-minute ferry ride to Singapore’s Harbourfront Ferry Terminal. Villa Harimau’s land title, that are currently designated for residential use, could be altered to permit accommodations and villas with the approval of the appropriate authorities.

Garrett expects to see potential buyers, including wealthy individuals who want to buy the property to use it as a private retreat. “The property has ample space which is ideal for a large familyof four,” the agent says and adds that the spacious living spaces, dining areas and the poolside are ideal for hosting guests.

Villa Harimau also serves as an opportunity to invest, Garrett says. With its stunning location with ocean views and stunning architectural design, she believes the new owner to profit from the high demand for rental properties generated by people who are looking to lease a home for their holiday in addition to general capital appreciation. In citing Knight Frank’s Global House Price Index, she explains that Indonesian home prices experienced an rise by 1.7% in 2Q2022, which could further increase as the country’s economy continues to improve following the pandemic. “Villa Harimau enables buyers to enjoy both beautiful surroundings as well as tangible financial investments,” she says.

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Singapore’s offices are fully occupied, and CDL also notes a resurgence in the retail and hotel portfolios

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TMW Maxwell showflat

In a quarterly update on business, City Developments (CDL) states that the company along and its joint venture partners have sold 95 units for $281 million in the third quarter of 2022. The pace of sales was slower in this quarter due to the fact that CDL has a smaller number of units that are not sold.

TMW Maxwell showflat awaits at TMW Maxwell, an opportunity not to be missed by families or singles.

In the period from September 30th, 2022 CDL had sold 802 units worth $1.9 billion this was less in comparison to the 1,382 units worth $2.5 billion in the same period one year earlier. This is due to the fact that most of the new projects that it launched are sold out and sold out, and with Sengkang Grand Residences selling out in the third quarter of 2018.

Following the 3Q2022 period, CDL launched Copen Grand Executive Condominium (in October). It is currently sold out. So, from September 30 through Nov 30 The company has sold 1 417 units, valued at $28. billion. However, sales have increased to 1,417 units, with an estimated amount of $2.8 billion.

The company restocked its landbanks with a winning offer in the amount of $336.07 million to purchase a 178,936 sq . ft EC site located at Bukit Batok West Avenue 5. This EC project will consist of 10 blocks of 12-13 levels with 500 units.

Then, in Australia, CDL recently completed The Marker in Melbourne, which has there are 84% out of the 198 units were sold as of today. The the first Private Rented Sector (PRS) development site located in the Melbourne’s Southbank has been completed the month of November 2022. The construction of the project is expected to start in 2Q2023 which will result in approximately 250 units.

CDL’s office portfolio has a committed occupancy of 94.3% as at Sept 30; Republic Plaza, the principal Grade A office of the Group building has 96.1% committed with a positive rental reversion rate of 5.9%.

The property group’s retail portfolio had a confirmed utilization rate in the range of 95.3% as at Sept 30. City Square Mall and Palais Renaissance had committed occupancy in the range of 98.2% and 100% respectively. The daily average of footfall risen up to 70% of pre-Cpvid levels by 3Q2022, and the average monthly sales of tenants have already surpassed levels pre-Covid.

The CDL statement stated that its two office buildings The 125 Old Broad Street and Aldgate House were able to benefit from the steady London’s commercial leasing sector. The leasing for The Junction, a 665-unit PRS development located in Leeds has started and is expected to be completed during the current quarter.

The company’s PRS portfolio of Osaka in Japan and Yokohama boasts an occupancy of more than 95%.

The hotel portfolio of CDL has seen a rebound in the last quarter, with Revenue Per Room (RevPAR) growing by 88.9% y-o-y to $161.9. In the nine months prior to September 30, RevPAR of the entire portfolio increased by 108.3% to $127.7, with London and New York improving their RevPAR by 291.2% and 113.3% respectively.

The rate hike cycle has led CDL to delay its IPO of their UK commercial REIT. “The massive rate hikes of 2022 have had a major impact on that IPO of REITs in Singapore as well as a host of scheduled IPOs as well as secondary fund-raising initiatives of REITs cancelled. With this market in turmoil and the uncertainty of the market, the Group is putting the suspension of its IPO plans regarding the company’s UK commercial properties until the market is stabilized,” the statement read.

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A “pure play” on room rate recovery is Far East Hospitality Trust

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TMW Maxwell Condo Maxwell Road

UOB Kay Hian Research analyst Jonathan Koh has maintained his “buy” recommendation for Far East Hospitality Trust (FEHT) with the price target (TP) of 70 cents.

In his report, dated November 28th, Koh says that FEHT is a direct play on the rise in the room rate in Singapore and variable rent returning to levels pre-pandemic. “FEHT will gain from the opening of Singapore’s borders internationally from April 2022, on a whole-year basis, beginning in 2023. One of the nine hotels began to contribute variable rent in the 3QFY2022 while a third hotel is scheduled to join in the 4th quarter of FY2022,” says Koh.

TMW Maxwell Condo Maxwell Road is within the vicinity are plenty of dining, shopping and entertainment amenities allowing the future residents of TMW Maxwell to meet their day-to-day needs within walking distance.

Variable rent makes up just less than five% of the master rent rental income of the hotels of FEHT in 2022. This is in contrast to the pre-pandemic level that was 29% in 2019, since variable rent is evaluated in a year-to-year basis. With the rate of recovery increasing and the forecast for the hotel’s revenue per space (RevPAR) to grow by 51% to $135 by 2023, and then five% to $142 by 2024.

As RevPAR recovers through 2023 and 2024 Koh anticipates that variable rent will increase up to% as well as 28% of the hotels master lease rental revenue and. Koh estimates that FEHT’s residences with service that have always contributed variable rents in spite of the Covid-19 epidemic and will contribute 36% of its master lease rental earnings for its residences that are serviced due to an occupancy rate at 90.4% in 3QFY2022.

The analyst believes that FEHT’s leverage on the whole at 33.5% will enable it to endure a long period of interest rates that are high.

The FEHT trading at a 2023 dividend yields at 5.9% price-to-net asset value (P/NAV) of 0.73x, Koh says it is trading at a reasonable value. The TP of 71 cents is basing on the dividend discount model (DDM) which has an 7.75% cost of equity and a rate of terminal growth at 2.6%.

The other factor is FEHT’s gain of $39.3 million from the sale of Central Square, which was completed on March 24. Koh says that FEHT plans to disperse a portion of profits from the divestment at a rate of $8 million per year over three years based upon the highest net profit interest (NPI) that was achieved through Central Square since its initial public offering (IPO). In Fiscal year 2022, FEHT plans to dish out a capital distributions that will amount to $6.2 million.

In the meantime, Koh says Singapore’s economic revival is fuelling improvement, but hotels’ occupancy rates decreased by 3.1 percent (ppt) per year (y-o-y) down to 76.1% in 3QFY2022 due to the fewer hotels that are under government contracts as well as the closing of the Elizabeth Hotel to be renovated. ADR, or the average day rate (ADR) was up 107.6% y-o-y to $137 because of the return of corporate guests as well as increased prices for four of the contracts with government as well as RevPAR increased by 101.9% y-o-y to $105 during the 3QFY2022.

“Currently, FEHT has four of nine hotels under government contracts to isolate the hotels until Dec 2022 or January 2023. The government contracts offer comparable income to market, but have lower operating expenses. FEHT is considering redeploying these four hotels to accommodate business and leisure travelers in the early 2023 timeframe if the increase in arrivals of visitors is continuing to grow,” says Koh.

Serviced residences have also shown the ability to withstand long-stay contracts that have both variable and fixed rents. Based on a similar-store basis, with the exception of Village Residence Clarke Quay, occupancy increased 12.1ppt per year up to 90.4% and ADR increased 24.4% y-o-y to $235 in 3QFY2022 owing to the high demand from corporate guests who stay for long periods according to Koh adding that RevPAR increased 43.7% y-o-y to $213 in the 3QFY2022.

He has reduced the distribution for 2023 (DPU) projection by 8% because of the increased costs of debt under an assumption of loans totalling $132 million, or 18% of the total borrowings at FEHT will be refinancing with 4.5% sometime in mid-2023.

The catalysts for Koh’s shares are upside protection from fixed rents that are embedded in their master leases to its sponsor Far East Organization (FEO) who owns the majority of 61% of FEHT and the ongoing improvement of occupancy ADR along with RevPAR for 2023 and 2024 aswell being the purchase of the remaining 70% stake in the three Sentosa hotel properties from FEO.

At 3.41 the units of FEHT were trading at 1 cent, or 1.61% down at 61 cents.

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Wiredscore adds a Hong Kong office to its Asia Pacific presence

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TMW Maxwell by CEL

Real estate certifications firm Wiredscore expands its reach across Asia Pacific with a new office in Hong Kong. The company’s international expansion began its expansion into Asia Pacific at the start of the year, with it’s regional head office located in Singapore.

TMW Maxwell by CEL development through a joint venture. The deal will see a transfer of $276.8 million to the owners of TMW Maxwell.

“Hong Kong is among the most highly-rated financial hubs in the world with a huge opportunity to sustain this status with the help of progressive landlords and developers offering user-centric office spaces that are suitable for the top global organizations,” says Thomasin Crowley the global director of APAC for APAC at WiredScore.

WiredScore is the name of its certification that is an international digital connectivity rating scheme, which works alongside landlords as well as developers to evaluate and enhance buildings. Additionally, it offers another certification, known as Smartscore to help smarter buildings. aiding landlords in improving and communicate functionality for users and the technological basis of their properties.

The opening of the Hong Kong office coincides with an announcement made by WiredScore that a number of Hong Kong-based developers and real estate companies have been looking to obtain WiredScore certifications for their properties in the city.

The developers consist of Henderson Land Group, Nan Fung Group, Sun Hung Kai Properties, Swire Properties and Grand Apex, a joint venture of Sino Group and Empire Group.

“We are excited to bring our experience and accreditations in Hong Kong and we are happy to work together with the best and most innovative landlords in the market.” Crowley says. Crowley.

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The Great Room unveils a new 21,000 square foot flagship facility in Hong Kong

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TMW Maxwell new launch

A premium flexible workspace provider The Great Room has opened an all-new flagship location within Cheung Kong Center in Hong Kong. The 21,000 sq ft co-working space is its second office in Hong Kong following One Taikoo Place.

TMW Maxwell new launch site is a 13-storey commercial development with a gross plot ratio of 4.3.

“As travel is opening up again and we’ve noticed that there is an increasing need for coworking facilities with flexibility across the region that offer an effortless experience. This is why it’s vital that The Great Room to provide more spaces that can meet this growing demand.” says Jaelle Angel Co-founder and CEO of The Great Room.

The 45th floor is where it’s located on the 45th floor, the co-working facility has 22 offices, including two enterprise units and the workhall, which includes office hotdesks, as well as hot desks. Facilities include in well-appointed meeting and event rooms as well as a nursing area with private phone booths as well as dedicated video conferencing and audio-visual equipment.

The Great Room is known for its service that is inspired by hospitality. The new location will offer the barista’s full-time service and special drinks for customers.

The cost of dedicated office memberships starts at $10,000 per desk per month. The city-wide hot desk membership starting from $3600 per month. In contrast, a virtual office membership is priced at $900 per month.

The new office at Cheung Kong Center is the eighth location of the company in Asia Pacific. The co-working operator says they have two more locations it is planning to launch in the next months. One of them will be a four-storey shophouse that is a conservation project in Singapore’s Chinatown region, and the other one will be located situated in Park Silom in Bangkok, Thailand.

“In the post-Covid world there is no going back to the past – it’s vital for businesses to provide access to a global work environment that is designed to facilitate collaboration, productivity , and greater involvement,” says Ang.

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