PropertyGuru Property Report No.171 (April - May 2022)

Page 1








USD10; SGD13; IDR135,000; MYR41; THB330

NO. 171



With features such as one-click sanitation and water stream experiences, the Eir intelligent toilet TM

provides a higher level of personal cleanliness. This sleek toilet can be installed into any wall and pairs nicely with contemporary bathroom settings.

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Designed to be Designed means that the Components™ collection was made for designers, decorators and consumers who want a personalized space. The Components collection invites you to combine a spout, handles and finish to create the perfect look for the room you want. The versatility and personalization of the Components collection enables it to be used in a wide range of looks and styles. 3

Grand Trinity


Grand Trinity




Promena by National Housing Organization, JSC

National Housing Organization, JSC





Transforming our Future


Hubei Coordination Urban Renewal Scheme by Lead8


Hubei Coordination Urban Renewal Scheme Shenzhen, China

Architecture | Interiors | Masterplanning | Branding + Graphics

Award-winning, multi-disciplinary designers creating built environments that are readying our cities for the future.





Fuzhou Shangri-La Mixed-use Development by Lead8

MixC Ningbo by Lead8

Fuzhou Shangri-La Mixed-use Development Fuzhou, China

MixC Ningbo Ningbo, China





Bintaro Jaya Xchange by Lead8

Fuzhou Shangri-La Mixed-use Development by Lead8

Bintaro Jaya Xchange Bintaro Jaya, Indonesia

Fuzhou Shangri-La Mixed-use Development Fuzhou,9 China

HZS Design


HZS Design








The Sanctuary Collection A Majestic Welcome To Your Luxurious Smart Homes 16




The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty







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Toba Lake Villas at ASYA by PT Astra Modern Land

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in the heart of East Jakarta. ASYA offers a vibrant lake township

in every aspect of our life. At ASYA, you can feel like you are appreciated and valued.



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Time River Experience Center by CLV.Design


AGILE · SHANQIN BAY HAINAN The design aims to let every corner of the home embrace an open view to outdoor beautiful seascape. The large-scale French window in the dining room brings outdoor sea view into the interior. The open kitchen is flexible, and the wooden veneers and marbles echo with the ocean view outside the window, together embodying a natural concept. Occupants can enjoy cooking and food while taking in the coastal scenery here.

TIME RIVER EXPERIENCE CENTER We attempted to create an art landmark between the city and nature, hoping it to be not only a property sales center but also a public destination for citizens to freely explore and spend time. The design elements are identified following the "City of Time" concept. Five themes with time trajectory as the motif clearly separate the whole building into several areas, presenting magnificent, energetic and free spaces that blend with landscape.

CLV.DESIGN is dedicated to integrated R&D and design innovation in real estate sector, and delivers customized design and execution solutions for a wide range of projects including proper ty sales center and club, commercial space, hotel, upscale show flat, finished residence, and furnishings, etc. CLV.DESIGN works with domestic leading real estate firms for developing a new generation of residences. With rigorous R&D logic, professional integration capabilities and systematic management experience, we help partners build standardized systems and improve the design management and operation standards of properties. We're committed to working with intelligent clients to create logical design works. 31








380 Melbourne by Brady Property Group

380 Melbourne by Brady Property Group

380 Melbourne by Brady Property Group







USD 20,000






















M o re Inf orm a ti on

0822 98000 789 Office: Komplek Ruko Mahkota Raya Blok D No. 12A, Batam Center - Batam PURIGLOBALSUKSES






The Monde City by PT Puri Global Sukses Tbk

PT Puri Global Sukses Tbk

Proudly Developed by:


Subsidiary of:

Tbk 37









Zhuhai Huafa Properties Co., Ltd. (abbreviated name as Huafa Properties) was established in 1992. It is a platform company that undertakes the real estate development sector of Huafa Group. Huafa Properties obtained national first-class real estate development qualification and became a listed real estate company on the Shanghai Stock Exchange in 2004. Since 2017, it has been included in the list of “Top 500 Enterprises of China” in Fortune magazine for five consecutive years, and ranked the 228th in 2021. Since 2012, Huafa Properties has fully implemented the real estate enterprise’s strategy including consolidating the Group’s position in Zhuhai, deploying the whole country and expanding overseas, while expanding its business to nearly 50 major cities in the mainland such as Beijing, Shanghai, Guangzhou and Shenzhen. Huafa Properties has created over 170 high-end residences, and actively exploring Hong Kong, Macau and overseas real estate business to achieve a gorgeous elevation from Zhuhai to Mainland China. Dalian Huafa Hills by Huafa Properities is one of the model residential projects under the above-mentioned strategy. It has also won the Best Housing Development (Mainland China) in Asia Property Awards 2021. The project is located adjacent to the mountains at the north with open sea view at the south. The master planning design has taken the advantage of the level difference between the north and south boundary to create a layout that respect the natural topography while maximizing open view of each and every unit to the cove. The architectural design is in modern simplistic style which blends in to the surrounding naturalistic setting. The overall colour palette is in dark-grey, white and timber tone. Vertical elements are in natural timber colour. Fenestrations are decorated in dark-grey louvres and clear glass panels with dark-grey metal window frames. The interior living spaces are in minimalist and luxury style and decorated in hard wood, leather and champagne gold stainless steel, are with tailor-made furniture highlighted with details. The landscape design is in new Southeast Asian style providing a number of communal leisure facilities which includes courtyards, pavilions, leisure benches, exquisite art pieces, gravel floor paving for footpath and terraced water features. As a result, an artistic and polished living space is finally created for the residents to experience a leisure, modern and elegant mode of living.


Huafa Properties actively responds to the national industrial policy in acceleratively transforming and upgrading. It commits to promote product diversification, and to build an upstream and downstream controlled industrial chain including self-operated retail complex such as Huafa Mall, the chain bookstore Readzone and the fashion flagship store - La Galleria are all well-known in the commercial retail industry of China. Zhongshan Huafa Mall by Huafa Properties with the GFA of 69,000 sqm is the first modern mega retail development in Zhongshan, China. It has also won the Best Retail Development (Mainland China) in Asia Property Awards 2021. The scale of the development has a significant impact on the urban dynamics of the city. Zhongshan Huafa Mall is a 7-storeys retail podium mall integrated with the upper multiple residential towers, within which the retail spaces are interwoven with gathering plazas and pockets enabling users to linger, gather and enjoy their time through a series of spaces with different atmosphere. To echo with the virtue of Zhongshan City Culture are tolerance, innovation with open-minded characteristics, the mall is developed as a youth community hub for Zhongshan with unique shopping, leisure, entertainment and cultural experience that is connected to the spirit of the local culture.

2021 Asia Property Awards received by Huafa


Jinke & zhongliang Emerald Mansion 金科·中梁博翠江樾

Changsha Zhongliang Heng Real Estate Co. LTD

It is a simple and concise project, making a brief book in the thick history and elaborating in the tangible space. With a concise design language, the original thick history can be translated into warm and natural spaces, which incorporate a trace of history and culture. 46

-winner Best Affordable Condo Development (Mainland China) -winner Best Affordable Condo Architectural Design (Mainland China)

Country Garden & zhongliang Huaiyin Siji 碧桂园·中梁槐荫四季

Changsha Zhongliang Heng Real Estate Co. LTD

People-oriented, and strive to create a more humane and warm feeling of community living. Three theme spaces of "fun", "health", and "nurse", two systems of "living" and "beauty", two methods of creating a sport- and leisure-oriented, pleasant urban living environment.

-HC Best Affordable Condo Development (Mainland China) -HC Best Affordable Condo Architectural Design (Mainland China) 47

Transforming Cebu into a World-class Lifestyle Destination

F.E. Zuellig Avenue, Mandaue City, Cebu, Philippines (032) 262 6888 48





Mandani Bay Suites by HTLand Inc.

One Mandani Bay by HTLand Inc.





Mandani Bay Suites by HTLand Inc.

Mandani Bay Suites by HTLand Inc.




Sanya CDF Mall II Hainan, China

Regional Winner - Best Retail Architectural Design


The Sanya CDF Mall Phase II is a pioneering, mixed-use commercial development located in Haitang Bay in Sanya. The location is a stunning tourist destination in China, offering world-class yachting, luxury five-star hotels, retail and entertainment all amidst lush natural surroundings.

Location: Hainan, China

Sanya CDF Mall II by Benoy

Date of Completion: 2020 Project Size: 32,000 m2 Client: CITS (China International Travel Service)

Benoy led the masterplanning and architecture design for Phase II of the development, closely collaborating with the client China International Travel Service (CITS). The vision was to create a world-class destination in Haitang Bay combining retail, entertainment, and leisure into a comprehensive and transformative development – the first and only destination of this type in Hainan province. Phase II took inspiration from Hainan’s natural habitat and the pearl oysters native to the island. The defining roof canopies mimic the gentle and sinuous curves of the Hainan pearl. The smooth, rounded appearance and alluring radiance of the large South Sea pearls are reflected in the soaring canopies, creating a distinctive and captivating appearance. Phase II improves the consumer experience with innovative programming that fully caters to the needs of not just luxury shoppers but also familyoriented groups. The result is a diverse space that celebrates the local environment and integrates cutting-edge lifestyle, leisure and entertainment offerings, setting a defining benchmark for innovative mixed-use design in the region.


Benoy aims to transform the world we live in through design. We are a global family of design specialists committed to delivering world-class solutions for the built environment. We specialise pr With a history of over 70 years and presence across APAC, EMEA and the Americas, we will continue to create places for people and in doing so, enable social wellbeing, economic prosperity a

Alibaba Central China Headquarters and Industrial Complex Wuhan, China Country Winner - Best Mixed-Use Architectural Design


Alibaba Central China Headquarters and Industrial Community, for which Benoy provided master planning and architectural design, is located in the core area of Wuhan’s inner ring. The goal is to create a smart industry cluster that integrates talent, entrepreneurship, jobs, industry and lifestyle. The project covers a total area of 44720 m², with above-ground GFA roughly at 300,000 m², with two eco office towers, 280m and 190m in height respectively, with a total GFA of 210,000 m², and a new retail commercial hub covering 90,000 m².

Location: Wuhan, China Date of Completion: 2024

Alibaba Central China Headquarters and Industrial Complex by Benoy

Project Size: 300,000 m2 Client: Alibaba Group

Researching Alibaba’s corporate culture and interaction between its offices and businesses, Benoy formulated the AliCampus concept and proposed creative spaces such as Challenge Avenue, Ideation Space, Resilience Space and Healing Corner, to appeal to younger employees and injecting vitality into the city. The team also reconstructed these space units via the concept of a Kongming lock–a traditional Chinese wooden puzzle–into the structure. This new project will create an intelligent industrial cluster of talent, entrepreneurship, work, and life for the city of Wuhan. It also helps the client implement the concept of building a hybrid digital ecosystem, and to enhance their presence in the central China region by driving the transformation of its brick-and-mortar businesses. Benoy works with Alibaba and the local community to build a future-proof urban space and promote the development of the tech industry in Wuhan.

rincipally in master planning, architecture and interiors, using what we call ‘creative commerciality’ to solve problems and unlock potential. and sustainable development.


Hengji Zhongliang Shiguangmingzhu 恒基中梁拾光明珠

Changsha Zhongliang Heng Real Estate Co. LTD

The architectural design concept advocates "unity of man and nature". With a contemporary Chinese architectural style, the overall facade displays a three-sectioned design structure, taking horizontal lines and volume sense as the main lines, and separating and recombining the elements. In order to construct 54 buildings that are compliant with modern life and thinking.

-HC Best Mid End Condo Development (Mainland China) -HC Best Mid End Condo Architectural Design (Mainland China)

Changsha Zhongliang Xiyue Terrace 长沙中梁玺悦台

Changsha Zhongliang Heng Real Estate Co. LTD

Traditional and modern architectural techniques are combined in architecture. Its facade, room combinations and environment are unique, reflecting the individuality of the design, changeable techniques, and the overall concept of unity, resulting in a more appealing shape.

-HC Best Affordable Condo Development (Mainland China) -HC Best Affordable Condo Architectural Design (Mainland China) 55





The Hive Residences by PH1 World Developers

PH1 World Developers





The Hive Residences is the first integrated mid-rise residential condominium community in Taytay, Rizal, Philippines. It is a condominium development under PH1 World Developers, formerly MySpace Properties, Inc (MSPI).

The Hive offers a safe and sound haven for all residents. It provides spacious amenities, natural light, and ventilation through its innovative architecture. Aside from being conveniently located near shopping malls and other establishments, the development also provides residents easy access to multiple transportation options, whether they want to reach the main cities in Metro Manila or other nearby provinces.

Together with AAAA Builder Contractor partner Megawide, PH1 World Developers continues to provide extraordinary experiences through extraordinary homes.



The design of the demonstration area integrates ecological landscape and natural elements, living here just like walking in mountain, shuttling in forest and boating in river. The people, nature, space and music achieve a harmonious coexistence. Focusing on the curve of a terrace, the rhythm of running water, we outline the harmony and elegance of space with modern streamline design. 58

ZhongLiang Dongtou Gilded Tianchen 中梁东投鎏金天宸

Changsha Zhongliang Heng Real Estate Co. LTD

Our design philosophy is to show respects for nature, conform to society and meet the needs of people and the environment. We strive to promote the harmonious coexistence of architecture, landscape, and interior design. Taking architecture as the carrier, landscape and interior design can be extended in architecture.

-winner Best Mid End Condo Development (Mainland China) -HC Best Mid End Condo Architectural Design (Mainland China)





Shanghai EXPO Village by Cicada & Palm Design

REDEVELOPMENT OF PLOT B IN SHANGHAI EXPO VILLAGE The project is located on the Bank of the river in the east of Huangpu, carrying Shanghai's "Memory of the World Expo". The project focuses on retaining the original urban texture and interface of the Expo Village, combined with its own advantages of house greening and public landscape resources, to create an ecologically green residential and living home and create a modernist work with a sense of eternity. The project promotes the quiet and elegant temperament to the extreme by building the order of space, light and structure: on the one hand, it is designed for experience, integrating a series of spaces that change with light and structure, so as to improve the user's sensory experience. On the other hand, in the architectural design language, place construction, culture, technology and other elements are integrated into the construction of structural order.

Architect company:SCDA Architects Pte Ltd

Address:1039 Xueye Road, Pudong New Area, Shanghai




The landscape design is inspired by the waters of the Yangtze River, the waves are expressed through modern abstract forms to create a landmark residential landscape design. Through the strategic spatial layout, the concept of the project borrows the nearby industrial relics as the and evoke the memory of the city.


The secondary entrance at the north end is adjacent to Bailianjing Park, which closely combines the design elements of the project with the external environment of the site to form an open and leisure park that is connected to the overall urban green belt. At the same time, through recycling and reuse of existing stone, and retaining a large number of existing sculptures and street trees to achieve sustainability, it emphasis Shanghai's green, livable, leisure, and cultural characteristics.

to run through the individual courtyards, creating an artistic conception that is connected in form and intent. "Party Lawn" in the north area is the largest communal area in the project. With a large

leisure lawn and broad vista, this sets a new benchmark for unique and aspired contemporary lifestyle. Corresponding to the large-scale central landscape is the private courtyards63 between the

ISSUE 171 Publisher Jules Kay Editor Duncan Forgan Deputy Editor Al Gerard de la Cruz Senior Editor Richard Allan Aquino Digital Editor Gynen Kyra Toriano Senior Media Relations Executive Tanattha Saengmorakot Media Relations & Marketing Services Executive Piyachanok Raungpaka Product Lifecycle Marketing Manager Marco Dulyachinda Editorial Contributors Liam Aran Barnes, Bill Bredesen, Diana Hubbell, Steve Finch, George Styllis, Jonathan Evans Head of Creative Ausanee Dejtanasoontorn Senior Graphic Designer Poramin Leelasatjarana Sales Director Udomluk Suwan Regional Manager of Awards Sponsorship Kanittha Srithongsuk Business Development Executive, Sponsor Partnership Priyamani Srimokla (Priya) Regional Solutions Manager Orathai Chirapornchai Solutions Manager (Australia) Watcharaphon Chaisuk (Jeff) Solutions Manager (Cambodia) Phumet Puttasimma (Champ) Solutions Manager (India and Sri Lanka) Monika Singh Solutions Manager (Indonesia) Amanda Michelle Wulan Putri Solutions Manager (Mainland China, Hong Kong and Macau) Huiqing Xia (Summer) Kai Lok Solutions Executive (Malaysia) Samuel Poon Solutions Manager (Myanmar and Greater Niseko) Nyan Zaw Aung (Jordan) Solutions Manager (Philippines) Marylourd Pique Maria Elena Sta. Maria Business Development Manager, Corporate Sales (Singapore) Alicia Loh Solutions Manager (Thailand) Kritchaorn Rattanapan Rattanarat Srisangsuk Solutions Manager (Vietnam) Quan Nguyen (Val) Distribution Manager Rattanaphorn Pongprasert Editorial Enquiries Advertising Enquiries Distribution Enquiries PropertyGuru Property Report is published six times a year by

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Architecture | Interiors | Masterplanning | Branding + Graphics

Design to Experience Award-winning, multi-disciplinary designers creating and delivering new experiential values in commercial developments.


The Ring by Lead8

The Ring Chongqing, China


CONTENTS | Issue 171







A plethora of waterproof devices make it safe to immerse

Wherever you are this summer, these furnishings will make a home out of your waterfront property

It’s time to bring out the big toys to beat the heat or just have some soaking good fun




Project Confidential: Sky-high showpiece

Interview: Setting the pace

Design Focus: Plus points

The Exchange TRX is pioneering high sustainability standards, connectivity, and placemaking design

Marathon runner and director of The Economist Corporate Network in Southeast Asia William Thomas is thinking strategically about the future of the region’s cities

Plus Architecture has established itself as a formidable force by deploying a philosophy of smart, usable design



CONTENTS | Issue 171





Neighbourhood Watch: Bogor

Destination: The Philippines

Destination: Singapore

The mountain city combines scenic splendour and a host of lifestyle perks with easy access to Jakarta

The country’s real estate market is rebounding strongly. And with fresh leadership imminent, there’s a bullish mood among investors and developers

The city-state’s response to the pandemic has been predictably thorough. But supply chain issues have sent property prices into overdrive




Special Feature: Cities within cities

Dispatch: Capital pains

Dispatch: Lockdown blues

Township developments that prioritise smaller, localised areas are increasingly seen as an answer to sustainability challenges

Real estate analysts don’t expect any significant shift in emphasis away from Jakarta to Nusantara soon

Melbourne’s pandemic woes have dented its armour and left the door open for Auckland

Damosa Land Inc.



Asia’s cities are legendary for their vitality. From the raw energy found in conurbations such as Bangkok, Phnom Penh, and Ho Chi Minh City, to the sense of history in Hanoi and Chiang Mai and the ordered modernity of Singapore, the region is blessed with a broad scope of urban diversity. But these hubs are changing as briskly as the vehicles that speed away from a Manila traffic jam. As they continue to expand, often out of control, developers and governments alike are vying to address challenges of liveability and sustainability. In this, our cities issue, we take a closer look at how thinkers and players on the ground are coming to terms with some of these existential posers. Township developments that prioritise smaller, localised areas are increasingly seen as an answer. We look at some of the best examples of these “cities-withincities”. Elsewhere, William Thomas of the Economist Corporate Network in Southeast Asia shares his thoughts on how macro-economic factors might impact development in the wake of the pandemic. We’ve also got analysis on Indonesia’s new capital on Borneo, Auckland’s ascent to the top of the global liveability chart and the lowdown on one of Southeast Asia’s most striking big-ticket urban projects: The Exchange TRX in Kuala Lumpur. Enjoy,

Duncan Forgan Property Report 70


TKO Spot by Link Asset Management Limited


The Velaris Residences



or those who have emerged victorious from life’s challenges, the successful few whose experience and expertise have given them a certain discernment, only the masterful will do. Whatever they see, hear, taste, touch, and possess must be in the realm of excellence and beyond. Their expectations are set high – in the careful curation of what they choose to experience, in their intention and confidence to accept only the outstanding - and they inspire us to do the same. They show a path to exceptional living for many to follow: operate at your best and expect nothing but the extraordinary.

The Philippine property market is one of the most exciting markets in Asia, and we are delighted to be part of it and to bring the innovations and design excellence that Hongkong Land is known for. Through our partnership with Robinsons Land, we have no doubt that we can duplicate our global successes in the Philippines through The Velaris Residences. Robert Wong, Chief Executive of Hongkong Land

A POWERHOUSE PARTNERSHIP For this group of discerning individuals comes an unrivaled destination residence in Pasig City, Philippines – The Velaris Residences by RHK Land Corporation, a joint venture of international property leader Hongkong Land (HKL) and Philippine real estate giant Robinsons Land (RLC). The pilot project of a noteworthy collaboration, it joins international design with local expertise to become a veritable masterpiece. Along the C5 corridor and near the private estates of Valle Verde, Wack Wack, and Corinthian Gardens, the 45-storey testament to human progress and inspiration rises. From its unique facade to every careful choice of fixture and fitting, it is built to serve as a beacon of opulence, meant to represent the very best of us and the best in us. With access points through C5 Road, Ortigas Avenue, and Amang Rodriguez Avenue, it is at the center of Metro 72 Manila and, for those who do not

PEERLESS DESIGN AND AESTHETIC There is a two-way test of true elegance: Is it felt and is it effortless? For those who are winning at the game of life and know what it is like to have and enjoy excellence at every tum, true elegance feels like home. And in the home, true elegance makes them feel peaceful and sincerely at ease – ideals that The Velaris Residences holds up like a torch.

compromise on location, never too far from any section of the city. The Velaris Residences is an incomparable investment for those who steward success.

winning spirit and connecting to success, with a 200-meter bridge structure over the historic Marikina river, which was designed using state-of-the-art technology and indigenous ingenuity by Manosa and Company. Beside it, a 60-meter sculpture of a victor stands proudly and stirs rapt admiration. These elements come together to demonstrate that Bridgetowne is an ode to urban prosperity.

The distinct design vision for The Velaris Residences was brought to life under the eye of Hongkong Land, whose expertise and aesthetic impact can be felt across Asia’s most influential cities.

Stepping into the building and the residences, one immediately sees the marriage of ease and sophistication. The Velaris Residences’ intentional design philosophy reveals itself. Artfully considered in the layout is people’s natural movement within the spaces – a mark of truly elegant places. Every inch and detail is meticulously designed with the residents’ experience at the heart of every architectural and interior design choice.

The development is situated in a choice location in Bridgetowne, a destination estate in Pasig. It rises next to a beautiful bridge, a victor statue, and a verdant central park. Bridgetowne quite literally represents the

Whether it’s a one-bedroom, two-bedroom, three-bedroom, four-bedroom or a penthouse unit, each residence is a study in complements and contrasts. Earth tones do not feel neutral here. Combined with rich browns, grays,

and cream, the effect surprisingly manages to feel new, textured, and interesting. Premium finishing accents and fixtures follow the stylings of the affluent in Hong Kong, catching the discerning eye with metallic tones of bronze and rose gold. Smart home connectivity and high-end appliances complete every savvy unit purchase and assure buyers of future-ready convenience at the tap of a finger. Biometric fingerprint scanning, PIN code, RFID card access, and Smart digital locks offer state-ofthe-art security; air-conditioning and lights can be controlled remotely from the phone; and the larger units have Smart Mirrors for users’ discretion. LOCATION BEYOND COMPARE The Velaris Residences residents are the masters of cosmopolitan living, navigating social occasions and career pursuits with confidence and efficiency. The development’s spot at the heart of Bridgetowne’ s urban sprawl places it within easy reach of establishments and offices, giving residents numerous options for life and work integration. Premium commercial centers, residential towers, hotels, exclusive schools, medical institutions, and PEZA-accredited office buildings are mere minutes away. With Bridgetowne also straddling progressive Pasig and Quezon cities, getting to and from the established lifestyle and career districts of Ortigas and Bonifacio Global City is a breeze, making the leaps between socializing and working effortless. INIMITABLE FEATURES AND SERVICES Privacy and the sense of distinction are of

utmost importance. It is part of The Velaris Residences trademark – offering unexpected delight because every resident deserves nothing less. Exclusive lift lobbies used to be the domain of penthouse owners, but at The Velaris Residences, the luxury of penthouse living is felt all throughout. Two-bedroom, three-

When it comes to wellness and fitness, The Velaris Residences offers options in a class of their own. The onsen on the third floor has indoor and outdoor hot pools providing an invigorating bathhouse experience enveloped in spartan Japanese aesthetic. An Olympic-length infinity pool inspires relaxation amidst a green landscape, spacious cabanas, and soothing lights. On the fifth floor is a state-of-the-art gym,

We don’t just design spaces. We design experiences. And in order to stage an experience that is memorable and unique for our residents, we always design with intention in mind. Stanley Ng, Head of Design, South Asia Development Properties, Hongkong Land

bedroom, four-bedroom, and penthouse unit owners enjoy the benefit of lifts bringing them straight to their doors. Their unit’s private lift lobbies can serve as a foyer where outdoor footwear and essentials are disinfected and stored. At the very top of the elevators is the crowning glory of The Velaris Residences –the SkyClub, an exclusive rooftop suite of entertainment establishments: The SkyDeck offers up a panoramic backdrop of stars and city lights for stimulating conversations. Enjoy a drink or two at the Sky Bar or fine cuisine served in the gourmet dining halls. Mere steps away are the game room and the wine room. The Events Pavilion, with an open-plan concept and floor-to-ceiling windows is another exclusive space designed to satisfy the entertaining and special occasion requests of residents and their guests.

Artist’s illustration

A truly unique amenity, the Japanese Onsen features both indoor and outdoor hot pools designed with a spartan Japanese aesthetic.

Artist’s illustration

Located at the 45th level, the SkyClub of The Velaris Residences offers impressive club-like facilities, which include a game room, a cards and wine room, a well-stocked bar, gourmet dining rooms, and a skydeck.

dance studio, yoga room, and outdoor yoga deck. The building also has a large and wellequipped playroom, as well as a karaoke room. AMONG THE WORLD’S FINEST IN INTERIOR DESIGN The Velaris Residences is not only a scenestealer in its city, but it is also catching the eyes of the world of real estate, architecture, and interior design. This stunning residential condominium and its show gallery have won several awards in the last two years. Among the several awards it has collected is the Best Condo Interior Design in the 9th Property Guru Philippines Property Awards. It was also Highly Commended in the Best High-end Development in Metro Manila category. To own a piece of one of the Philippines’ most coveted addresses, visit the property’s website,

Artist’s illustration

A spacious central lobby and two private lobbies address the need to both privacy and utmost convenience.

Artist’s illustration

Unit options in The Velaris Residences include 156 sqm three-bedroom and 105 sqm two-bedroom units, as well as one-bedroom units with sizes ranging from 46 to 82 square meters. Bi-level penthouse units are also available.


DETAILS | Gadgets

WET AND WILD A plethora of waterproof devices make it safe to immerse

GOING SWIMMINGLY Bone conduction headphones that you can swim with seemed implausible not too long ago. But you hadn’t seen the Shokz OpenSwim then. The IP68-rated headphones can hold their own in depths of up to six feet and even hold hundreds of songs with a 4GB storage.



ZHANGFEI TEMPLE FOLK CUSTOM STREET Zhangfei Temple Folk Custom Street is one of the key projects of Yunyang

County, Chongqing, China. It is located on Nanbin Road on the south bank of

Yunyang County.The main style of the block is the culture of the Three

Kingdoms and the architectural features of ancient houses in eastern Sichuan. It is composed of traditional cultural

elements such as folk custom street,


gate tower, stage, watchtower, city wall and so on.The building is divided into

upper and lower parts. The base part of the lower city wall adopts the

traditional reinforced concrete

structure, and the upper ancient

building adopts the glulam structure. After completion, the scale of the

structure is reasonable, which perfectly presents the soul of antique

architecture. The project has also

become the country's largest group of

ancient buildings mimicking wooden structures.



DETAILS | Gadgets

GETTING CATTY Caterpillar is the go-to name for work boots, heavy machinery— and now Bluetooth speakers. The CAT Rugged Wireless Speaker sports an industrial look to match its durability. The device is rated IP68 waterproof and resists most falls thanks to strategically located TPE bump guards.


SOCIAL MAVEN Join the 360-degree camera revolution by investing in Insta360’s GO 2 camera. With its IP8 4 rating, you can immerse it in depths of up to four metres and still upload gorgeous images.


ULTRA DURABLE The Samsung Galaxy S22 Ultra continues the line’s grand tradition of IP68 waterproof technology. Dunk it as deep as five feet into water and you will still come away with a responsive device with a dynamic, adaptive refresh rate. It’s the first Galaxy device to carry a built-in S Pen.

From USD1,200,


CUT THE CORD Face it: An action camera will never look as good as a classic camcorder. Sony is appeasing sentimentalists with a combo of both in the camcorder-like Sony FDR-X3000, which, when used with its companion waterproof case, can go as deep as 195 feet underwater with great 4k image stabilisation.



DETAILS | Trends

WAT ER WORKS Wherever you are this summer, these furnishings will make a home out of your waterfront property

WICKER MAN Laze on the handwoven Huntington all-weather wicker sectional, which has spacious double chaises on both ends. The material recalls velvet and other soft fabrics but it’s 100% polyester filled with polyurethane foam and polyester fibers.

Up to USD8,895,



HOLD SWAY The Saratoga Hammock is as stylish as it is strong. The photogenic swinger can hold a 265-pound person in a yellowand-white striped cotton bed with crocheted fringe details. On this weather resistant sling, the swaying will surely come ad infinitum.


THAT 70S SHOW The vintage-inspired Riley chair has the curves in the right places, plus attractive wickerwrapped joints. Built with a faux rattan frame, the 34-inch high chair holds a weather-resistant cushion upholstered in 100% olefin.

From USD1,500,

DASHING DINING FULL OF BEANS A patio with heavenly sea views deserves the Frontgate Calhoun aluminum dining set. The set can seat six on powder-coated aluminum chairs with armrests set in teak and white cushions upholstered in solution-dyed acrylic fabric. Also stood on powder-coated aluminum, the dining table features a kiln-dried teak tabletop.

From 4,896,

Sunbrella is the golden standard of all-weather, water-resistant, anti-mildew fabrics, and it wraps West Elm’s comfy outdoor bean bag chair stuffed with polystyrene beads. With its minimalist stitching and a great array of colours, this fade-resistant bean bag will look as good outside as it does inside.

From USD299,



Tierra Verde by inT Design Furniture Limited



A BIG SPLASH It’s time to bring out the big toys to beat the heat or just have a soaking good fun

LAP IT UP The Intex Ultra XTR Rectangular Pool is a departure from many above-ground pools. The galvanised steel pool is 32ft long and 16-ft wide with 4.3-ft tall walls. Powder-coated interiors prevent rust, and the sand filter pump and saltwater system come in handy.

From USD2,572,




SLIPPERY SLOPE Don’t know what to do with your big backyard? Lay out Wahii’s gigantic water slides, which run anywhere from 50 to 75 ft long. Watch your kids slip and slide down the UV-protected, 12-ft wide plastic runway, which can be secured to the ground with a patented fastening system.

From USD110,

HEAT IS ON The Ohana Spas 6-Person Hot Tub is the perfect place for an intimate soiree. Panelled in UV-resistant faux wood, the acrylic tub can hold 400 gallons and comes with 50 adjustable stainless-steel jets, a relaxing lounge seat, and padded headrests.

USD8,800, FLOAT ON The best things in life are made for sharing, and those include this giant Intex floating mat. Don’t’ mistake the 7-ft wide, 9.5-ft long, 19-pound vinyl floatable’s slimness for frailness, as it can easily carry up to three adults. Better yet, the mat folds small for storage.


RIGHT TO CARRY Songkran will never be the same again thanks to the SpyraTwo. Able to fire shots 46 ft away and refill fast just by dunking in the water, sans the pumping, the “world’s strongest water gun” could be worth every penny.





BUILDING BLOCKS OF LIFE Award-winning design studio Lead8 shows the way forward on how to build the cities of tomorrow

The world is urbanising fast. In China alone, over one billion people or over 70% of the nation’s populace will be living in its cities by 2030. In view of such runaway growth, public and private stakeholders alike are invested in urbanisation that is sustainable and equitable. With building and construction identified as the biggest sources of carbon emissions in the country, China released last year a five-year plan detailing new energy consumption and carbon emission targets for its unstoppable progress: a bold move to put the environment above short-term economic growth. As a leading international urban masterplanning and design studio, Lead8 is one with the world in reimagining large-scale urban developments as future-proof, resilient, adaptable, and collaborative. These city-based developments in turn connect people to nature, culture, and a sense of place in new ways. “At Lead8, we believe creating cities is not all about building new; it is also about evolving along the way,” says Simon Chua, co-founder and executive director of Lead8. “Urban regeneration enables us to protect and preserve parts of our urban environment while helping to give them new life. Our design approach seeks to stitch our environments together, activating spaces to respond to life today, and delivering a more unified urban realm.”


Lead8 believes that the city is an entity that adapts to change like any living organism. It falls on city planners and architects then to regenerate disused areas and give a second look at under-utilised sites rather than rush to build. In Shenzhen, Lead8 collaborated with a team for the Hubei Coordination Urban Renewal Project, which revitalises a 500-year-old village into a major regional cultural, commercial and tourism destination. The revitalisation of the site fills a historic void that was missing in action from the Golden Triangle, the financial and commercial hub of Luoho District in Shenzhen, for decades. The scheme calls for a sweeping elevation of the highdensity area’s standards, from its air quality to hygiene to visibility. Envisioned as the new East Gateway to Shenzhen, the regenerated site involves a multiple-ground-floor strategy that will connect it to five metro lines. Lead8 also brought the network of the Old Hubei Village alleyways into the design, guiding the layout for the pedestrian thoroughfares. “Unlocking historic urban environments, making them more accessible, interconnected and experiential, allows them to survive and thrive,” says Simon. Similarly, Lead8 handled the ambitious transformation of the 100-year-old Capital Steel Factory in Beijing into


a gateway to the 2022 Winter Olympics site. The team converted the industrial complex’s historic remains into a mixed-use, multi-activity, transit-oriented destination—the future home of high-tech firms in the city’s new Shougang North District. Set above the metro interchange station of M11 and R1 in Shougang, the project integrates five metro line exits from the underground interchange station. Each factory building features a themed atrium connecting B1 to L2 and exposes the interior detailing of the historic structures.

“Architectural adaption is an important process that encourages buildings to be designed to adapt to their habitat,” says David Buffonge, co-founder and executive director of Lead8. “This trait is important for the survival and longevity of the built form, an essential sustainable criterion for our cities of tomorrow.” Rejuvenating cities, let alone building them from scratch, requires specialist design expertise. With Lead8 spearheading such visionary projects, urbanisation is truly in good hands.

In Chongqing, Lead8 conceived the interior design for The Ring in Chongqing, a transit-oriented retail development with direct connections to Chongqing Metro Line 5 and Line 15. The interior design of the shopping centre follows a “mountain city” concept, mining the best biophilic practices and cutting-edge technologies to create one of China’s largest indoor botanical gardens. Developments are made more sustainable when they offer a greater mix of uses, achieved by making spaces more flexible. The creative reuse of a scheme’s materials or structure itself, as well as the movement away from “singleuse” building materials, can contribute to a project’s green credentials.



SKY-HIGH SHOWPIECE The Exchange TRX, centrepiece of Malaysia’s new master-planned financial district, is pioneering high sustainability standards, connectivity, and placemaking design BY AL GERARD DE LA CRUZ


alaysia is a nation of cities—and cities within cities. There’s Putrajaya, the administrative capital, built from scratch on plantations. There’s Cyberjaya, the country’s answer to Silicon Valley. There’s also Kuala Lumpur City Centre (KLCC), home to the world’s tallest twin towers. And then there’s Tun Razak Exchange (TRX), a master-planned financial district, benchmarked after Marina Bay in neighbouring Singapore, the International Commerce Centre in Hong Kong, and Canary Wharf in London. Home to the 492-metre high Exchange 106 building, the MYR40-billion (USD9 billion) transit-oriented development is transforming Kuala Lumpur’s skyline. At the epicentre of the 70-acre district is The Exchange TRX, a lifestyle precinct anchored by a 2.2 million sq ft lifestyle retail development with a rooftop park. The MYR9-billion integrated development, the largest in Asia by Australian multinational property and infrastructure group Lendlease, also encompasses residential towers in three separate plots, a campus-style office block, and an array of cultural and leisure offerings. The project, previously known as the Lifestyle Quarter, will also feature the first Kimpton Hotel in Malaysia.




Lendlease took interest in the 17-acre site for its direct connection to TRX’s namesake MRT interchange station, the largest and deepest in Malaysia, linking commuters to almost 70 stations across Klang Valley. Straddling Jalan Tun Razak and Jalan Sultan Ismail, the site also sits on a subterrranean loop tunnel that allows motorists to bypass surface roads and emerge on important thoroughfares like SMART (Stormwater Management and Road Tunnel), MEX (Maju Expressway), SPE (SetiawangsaPantai Expressway), and DUKE 3 (Duta-Ulu Kelang Expressway). “This city-defining development brings together best practices in holistic place management for the deliberate creation of inclusive, connected and collaborative communities,” says Stuart Mendel, managing director and country head for Lendlease in Malaysia. The Exchange TRX revitalises a neglected portion of Kuala Lumpur’s Imbi and Pudu neighbourhoods. A residential quarter for civil servants in the 1920s, the area also known Pak Luk Kan—translated as “Land of the 106 Bungalows”—developed ad hoc over the decades, giving rise to the congested Pasar Rakyat marketplace and bus terminal. Taking the lessons of its many urban regeneration projects worldwide, which include Barangaroo South in Sydney and the International Quarter in London, Lendlease gave the area an infusion of vitality. Following the opening of the TRX MRT station in 2017, Lendlease formally launched The Exchange TRX as a 60:40 joint venture with master developer TRX City Sdn Bhd (TRXC) under the Ministry of Finance in 2019. “Placemaking is our capability that sets us apart,” says Mendel. “We have the expertise to reinvent underutilised areas into thriving places that connect people through work, leisure and living. To us, urban regeneration is about future-thinking and building a place that does not just serve the purpose of today, but one that is reliable and inventive for generations to come.” The landmark development is not only premised on superior transport connectivity but also walkability. Connecting The Exchange TRX to the Bukit Bintang shopping belt and KLCC is a pedestrian boulevard, essentially lining up one showpiece retail destination after another.


It was imperative for Lendlease to differentiate the retail component of The Exchange TRX. With a net leasable area of 1.3 million sq ft, the four-level retail development has 400 experience stores, plus unique experiential dining concepts and retail firsts in Malaysia. They include Japanese department store Seibu and movie house chain Golden Screen Cinema. “As a global property developer, Lendlease has relationships with retailers from all around the world, and we are excited to introduce some key flagship experience stores at The Exchange TRX,” says Mitchell Wilson, project director of The Exchange TRX at Lendlease Malaysia. With The Exchange TRX mall, Lendlease introduces a Melburnian retail experience to Kuala Lumpur: the laneway. The 300-metre Market Lane in the development is dedicated to up-and-coming local entrepreneurs, artists and musicians.




The park atop the retail development is—literally—an elevated take on retail landscaping, inspired by the High Line in New York and Namba Park in Osaka. Carpeting 10 acres of the retail development’s rooftop, it is the first major park to be developed in Kuala Lumpur in over 20 years. Landscapers sourced 150,000 plants across 150 species and interspersed them with walking pathways, recreational areas, cultural spaces, and alfresco dining spots. The park serves to maximise water retention from storm events and reduce the effects of urban heat. The entire precinct itself sits on a raised platform, giving the site a 1.7-metre buffer against flooding especially during the monsoon season. Lendlease submitted the location to climate risk analysis and flood modelling, part of the company’s aim to future-proof the development.

“Our sustainability vision is about creating great places around the world that do not ‘borrow from the future’ but instead ‘pay back’ some of the social, economic and environmental impacts that exist across our urban landscapes,” says Mendel. The six residential towers at the precinct, collectively known as TRX Residences, pass on the environmental boon to residents in the form of lower utility expenses: up to 25% and 47% savings in energy and water consumption, respectively. The buildings also run rooftop photovoltaic cells, bringing solar power to some common areas. Consultants on TRX Residences were briefed on the Global Apartments DNA document containing Lendlease’s guidelines for highrise living. “In any city we target, we need to be able to operate in a way that complies with our robust safety and sustainability standards,” says Mendel.



Construction of the first two blocks, the 53-floor Tower A and 57-floor Tower B, is progressing well, reports Eric Chan, project director of TRX Residences in Lendlease Malaysia. Breaking new ground, Lendlease has equipped construction workers with the 118-ton Lubeca Jumpform System, which can complete a level of lift and stair core every five days.

TRX Residences is both a product of its time and a futurelooking project, with a mechanical ventilation system and other design contingencies against interunit contamination and disease. For the same reasons, Lendlease is keeping the density of the residential buildings mostly to 10 units per floor, for a total of over 2,000 homes in one- to threebedroom configurations across the three plots.

“The lift and stair core form the backbone of the project, providing essential vertical transportation services and safety systems, as well as structural stability for the towers,” says Chan. “The building envelope of the glass curtain wall with double glazing and low-E glass can quickly follow suit, creating a safer working environment that is protected from weather conditions.”

“The Exchange TRX was designed and planned before Covid, built during Covid, and scheduled to open when Covid is likely to be endemic,” says Chan. “Our philosophy of building for the long term is especially relevant to a post-Covid-19 world, as we all adapt to the ‘new normal’ of living and heightened requirements for safety and health standards.”

Lendlease also used the Stairmaster system, enabling precise installation of evenly laid stairs. This allows contractors to move up and down the high-rises without relying entirely on passenger hoists or installation of makeshift staircases. Imbuing universal appeal into the homes, the company also built prototypes of the twobedroom design for experts and user groups, including persons with disabilities, to critique.

Lendlease has been an influential presence in Malaysia for over 35 years, with a portfolio that includes the likes of Petronas Twin Towers. In February, the company acquired an additional 1.2-acre plot of land within TRX.

“These innovations coupled with an unrelenting focus on safety allow us to construct the project expeditiously with a clear emphasis on quality,” says Chan. 94

“Governments around the world are striving to proactively manage this megatrend of urbanisation,” says Mendel. “We aim to continue to seek out opportunities in Malaysia and work closely with the government and other investors to help create better places, ultimately contributing towards Malaysia’s growth and development.”

DIGITAL FRONTIERS Through The Exchange TRX, Australian megadeveloper Lendlease is bridging the gap of digital innovation in the Malaysian retail scene. “Digital transformation has emerged as a top trend as we have seen an unprecedented shift towards retail digitisation and e-commerce accelerated by the pandemic,” says Mitchell Wilson, project director for The Exchange TRX in Lendlease Malaysia. “Yet, for most retailers, brickand-mortar stores remain an essential part of their brand engagement strategy and shopping experience.” Lendlease enjoins tenants to integrate bricks and mortar into e-retailing platforms; introduce cashless payment systems; offer virtual fitting rooms via augmented reality (AR); and design engaging digital shopfronts. The Exchange TRX app functions as a digital concierge, capable of booking services running the gamut from baby strollers to wheelchairs. A one-stop hub for customer needs, the app can manage restaurant bookings; home deliveries; parking reservations; and many more. “Data gathered from the apps will be analysed through an analytics platform so we will be able to improve our offerings, making our app and our asset relevant over time,” says Wilson. “A similar app is available for the development’s residential component TRX Residences,” adds Eric Chan, project director for TRX Residences in Lendlease Malaysia.




Setting the pace A marathon runner and former military officer, William Thomas, the director of the Economist Corporate Network in Southeast Asia, is thinking strategically about the long-term future of the region’s cities BY BILL BREDESEN




We’re still figuring out what the nature of work is going to look like here in Asia. It’ll affect the nature of residential development because more people will be looking for home offices. It’ll impact how we design our cities


s director of The Economist Corporate Network in Southeast Asia, William Thomas brings together C-suite executives from across the region for exclusive networking sessions and expert seminars that look at how macroeconomic trends and geopolitics could impact business strategy. Thomas, who is based in Singapore, is a former U.S. military officer, university professor, HR consultant, and small business owner—as well as a competitive runner who, after taking up the sport relatively late in life, at 42, has completed the so-called Marathon Grand Slam, crossing the finish line on all seven continents plus the North Pole. The Economist Corporate Network’s executive-level seminars, and the Regional Leaders Programme that Thomas ushered in two years ago, are designed to help business leaders better understand a range of complex issues, from cyber defence to supply chains, and guide them in their decision-making. “Being a top leader in a company is like being the captain of a ship,” Thomas says. “You can’t talk about everything with the crew. Only other ship captains are going to understand what you’re going through. This is a chance for all of those captains to come together and share ideas and insights behind closed doors.” 99


Sustainability is a particularly in-demand topic among corporate leaders these days, Thomas says. Environmental, social and governance issues (“ESG”) are increasingly viewed not only as “nice to have,” he says, but as “critical gates or filters in your strategy that every decision has to go through.” As an example of ESG’s upside potential for a business, he pointed to a Malaysian real estate developer—a member of The Economist Corporate Network—that recently built a new shopping mall that included its own sustainable water supply, as well as solar panels that produced so much reliable energy the owners were able to sell excess power back to the local grid.


“These factors allowed them to charge higher rent to their tenants than if they were dependent on the local system with occasional brownouts,” Thomas says. The developer also worked with the government to integrate public transport and create a dedicated bicycle lane to the mall. That allowed the owners to commit less space to parking, which would have been a zero-revenue generator. The project’s “green” elements ultimately drove profitability. “What I think will make a real difference for companies is when they stop seeing sustainability as a cost—and start seeing it as a competitive advantage,” Thomas says.

I saw a recent story you posted online linking to the Economist Intelligence Unit’s Global Liveability Index. I know they’re a sister organization under the Economist umbrella. What can businesses glean from that index? The biggest value, if it’s used properly, is it can help you see the emerging expectations that people have when they’re living in a city, choosing where to go, or choosing where to set up their business. Just looking at the numbers or rankings doesn’t tell you very much. You need to look into the report to see why a city rose or fell. I think it also helps to look at the index over some time and not just one year—because that’s just a snapshot.

To see the emerging trends, go back a few years and see what changes are happening over time. Where is consistently rising—and why are they rising? That gives you a sense of what people are looking for in a liveable city. And that’s where I think it can be really valuable for developers and urban planners to get a sense of where they want to take their city in the next five or 10 years. How might you use it to advise one of your clients? It would depend on the client. For example, with a tech company, we might take this year’s index and look at the past few years and see what role tech has played in bringing a company up in the index. What is it that’s so valuable? Is it simply a reliable infrastructure that supports e-commerce or 101

work from home? Is it 5G? Internet of things? For a logistics company, on the other hand, we might look at traffic patterns or population dispersal from the city centre to the suburbs. How has Covid-19 changed the way people and businesses think about urban development, especially in Asia? One of the biggest impacts I’m going to be watching for is the changing nature of work. That, I think, has more impact in this region than other parts of the world. If you look at North America or Western Europe, the idea of flexible work arrangements and “work from home” have existed for some time. Maybe not on a huge scale, but they’ve been there. Compare that to Hong Kong or Singapore, where there’s a long tradition of getting to the office before the boss arrives and leaving after the boss leaves because you have to be seen.


We’re still figuring out what the nature of work is going to look like here in Asia. That’s going to drive individual property developments in terms of commercial spaces. It’ll affect the nature of residential development because more people will be looking for home offices. It’ll impact how we design our cities. Do we have a commercial district? How do we design mass transit? Where are people going to live relative to where they work when that’s not as much of an issue anymore? From a macroeconomic perspective, what trends do you see influencing development in this region in the next three to five years? We need to watch government responses to inflationary pressures. Inflation popped in 2021 as demand started to open up again. It’s very uneven in different markets. Also, there are a lot of supply pressures—supply chains are blocked and logistics are still very expensive right now. We

forecast that it’s going to come down in the next couple of years, back down to levels that everybody is used to and comfortable with. But governments are under pressure to respond now. The challenge is to start raising interest rates. That will cool off the economy, but we’re still in an economic recovery. So cooling off the economy may not be a good thing. In terms of development, this has a couple of different impacts. On the buyer side, as interest rates go up, it impacts demand for new property developments. Also, governments took on a lot of debt in response to Covid. And servicing that debt is manageable now because interest rates are so low. When interest rates go back up, the government is going to have to pay more to service that debt. The money has to come from somewhere else. Fiscal changes, whether that’s taxes going up or discretionary spending going down, then have an impact on infrastructure

development and broader urban planning issues. Things are picking up again. We need to prepare for a slowdown because it seems like governments are going to respond to this pressure sooner than later rather than waiting it out. What do you see in this regard in Singapore and Malaysia? I think we’ll see it more so in Malaysia. Singapore is a little more content to ride things out. I also think debt is not an issue in Singapore because they didn’t take on debt to pay for Covid. They pumped a lot of money into the system but it came out of their “rainy day” fund. They didn’t take on excess debt to do this. In places like Malaysia, Vietnam, the Philippines, and Thailand, I think you can expect to see more of an impact if interest rates do start rising, as we think they’re likely to.




HOME SWEET OFFICE As the Philippines warms to new ways of living and working, real estate company SM Development Corporation (SMDC) introduces enterprising residential and commercial concepts in its new township development

Some 85% of Filipino office workers were forcefully shifted to a work-from-home (WFH) arrangement since the start of the pandemic, according to a study by SEEK Asia, Boston Consulting Group, and The Network. Meanwhile, stringent lockdown measures have forced millions of Filipinos to stay close to home, foregoing leisure and entertainment activities and only going out when it is necessary, and rethink travel plans entirely.

Naturally well-lit and endowed with sufficient working spaces, the units are complemented by the buildings’ topnotch shared facilities, including meeting rooms and co-working spaces. Residents have access to fitness and wellness amenities, as well as a commercial area. The towers also emanate a sense of arrival, boasting world-class lobbies designed with gold accents and premium finishes by Australia-based firm Plus Architecture.

In response to these shifts in lifestyle, real estate giant SM Development Corporation (SMDC) conceptualised a project fit for the times: Gold RESO (Residential-Offices).

Gold RESO residents not only enjoy the convenience of being located in the bustling, progressive city of Parañaque but also the many opportunities for living, leisure and employment right within Gold City. SMDC’s pioneering township is a multifaceted project brought together by world-renowned architects and interior designers.

The development has all the comforts of a residential address but with features and amenities fit for a business from home. Homes at Gold RESO have the configurations and fittings of a proper office. The Gold RESO towers are part of Gold City, an 11.6-hectare master-planned community being built across from the Ninoy Aquino International Airport Terminal (NAIA) in the Philippine capital. The flexibility offered by Gold RESO allows business owners to convert office rent expenses into a freehold real asset. With 100% back-up power and fast internet connection, Gold RESO assures its occupants of smooth, continuous business operations.


Gold City is close to the Mega Manila Subway and major thoroughfares such as the NAIAX and C5 extension, which in turn lead to Metro Manila’s many dynamic central business districts, tourist attractions, shopping areas, dining spots, and entertainment destinations. The interconnectivity of the developments and fluidity of the environs compel residents, workers, and visitors in Gold City to safely take advantage of urban comforts in one place. Due to Gold City’s proximity to the airport, residents in the township benefit from an exclusive shuttle service to the NAIA terminals. This allows residents to just leave their cars at home and simply jet off to their destination.


Apart from Gold RESO, those looking for dedicated homes are spoilt for choice in Gold Residences. The eight-tower project in Gold City contain homes around hotel-like lobbies and resort-style amenities, with efficient levels of property management, maintenance, and security. Known for its work with luxury hotels, Singapore-based design firm Michael Fiebriech Design (MFD) adorned Gold Residences with dramatic installations and visually stunning elements. Living up to its name, Gold Residences is layered with black and gold tones that result in striking, high-contrast interiors. Hong Kong-based architecture, urban design and masterplanning firm Adrian L. Norman Limited (ALN) meanwhile hatched the project’s lush landscape design. Manicured gardens with golden design elements extend a refreshing, relaxing environment to residents. The residential phases at Gold City boast amenities built to luxurious standards. These facilities include a gym, yoga

studio, function rooms, communal work lounges, adult and kiddie swimming pools, and playgrounds. A walkable community, Gold City also comes with jogging paths, a welllandscaped central parks, and enclave gardens, offering open spaces and pockets of serenity for residents, visitors, and workers. Such visionary concepts and seamless synergy with collaborators have earned industry accolades for SMDC, hailed Best Developer at the most recent PropertyGuru Philippines Property Awards. Gold City and Gold Residences clinched many wins, including Best Mixed Use Development, Best Mid Rise Condo Development (Philippines), Best Lifestyle Development, Best High End Condo Development (Metro Manila), and Best Landscape Architectural Design. With great style, functionality and profitability, Gold City symbolises a golden opportunity for property seekers, investors, and entrepreneurs alike.


Plus points Plus Architecture has established itself as a formidable force throughout Australasia by deploying a philosophy of smart, usable design BY DIANA HUBBELL


Since 1997, Plus Architecture has been steadily proving itself to be a force to be reckoned with in Australia’s design scene. The firm started exclusively in Melbourne’s residential market. But in subsequent years it has branched out to an impressive range of projects throughout Australasia. Today, the company’s portfolio encompasses everything from commercial workspaces to ambitious mixed-use developments to wellness facilities. It has even collaborated with the likes of international architectural heavy hitters like Zaha Hadid and Kengo Kuma. “This year marks our 25th birthday. During that time, we have grown to have eight offices,” says Jessica Liew, director of Plus Architecture’s Melbourne office. “We have a strong presence in New Zealand and Australia. Much of the growth happened in the last five years. It all happened very quickly and organically.” As Plus Architecture’s first female director, Liew has been influential in overseeing the firm’s recent explosive trajectory. A natural polyglot who is fluent in both Cantonese and Mandarin, she has been an asset in reaching out to the Asian market, as well as catering to the Asian expat investor community in Australia and New Zealand. According to Liew, Plus Architecture’s decision to expand beyond Melbourne was a necessary survival strategy for building a more robust future for the company. “We have learned lessons from market downturns,” says Liew. “We wanted to spread our wings into other sectors. We have a lot of talent in the firm. And these guys needed room to grow. So they were able to open offices in other cities or states.” That willingness to go boldly forth, both literally and figuratively, has served Plus Architecture well. Liew is proud of the firm’s ability to adapt to varied site specifications and client needs. “We believe in exploration and collaboration,” Liew says. “We don’t like to design with a signature style because it might not necessarily be the right answer to every site. We draw upon site context.”



We believe in exploration and collaboration. We don’t like to design with a signature style because it might not necessarily be the right answer to every site. We draw upon site context


Naturally, adapting to the site context often entails designing the most eco-friendly building possible. While some architectural firms go all-in on the latest bells and whistles—which may sound good in a press release, but not make a meaningful difference in the building’s overall carbon footprint or waste—Liew firmly believes in tried-and-tested sustainability strategies. “Greenwashing can be a potential issue,” she says. “Figuring out what has a positive impact can be complex—you must factor in lithium mining and production and all sorts of supply chain issues. I understand a lot of others push for a lot of technologies and smart materials, but we always ask at what cost.” To that end, Plus Architecture sticks to one of the most trusted options out there: passive design. In other words, every building goes through a daylight assessment to determine how to best maximise or minimise sunlight and natural cross-ventilation to maintain a comfortable internal temperature with minimal wasted electricity or fossil fuels. The firm incorporates solar panels whenever possible and encourages clients to steer away from inefficient gas heating systems. “Although it’s quite an old-school principle, passive design is just so powerful, no matter how basic it is,” says Liew. “We want to be able to put our hand to heart and say this is the best product.”

That strategy of creative pragmatism is emblematic of Plus Architecture’s overall style. While many of the firm’s buildings are visually striking to behold, Liew prefers to create smart, usable design that will endure—an outlook very much in line with the prevailing attitudes Down Under. As much as she admires dazzling starchitecture structures, she insists that the tastes and needs of the average Australian or New Zealander trend slightly more pragmatic. “Architecture in Australia is not at the Norman Foster or Zaha Hadid level of extravagance,” Liew says. Nevertheless, she believes that flair need not be sacrificed for the sake of simplicity. “A lot of the designs that we are doing here are still exciting,” she says. “Even the simplest buildings” Much of this has to do with a general standard of excellence. According to Liew, there is an almost universal acceptance in the region of the idea that every building project—no matter the scale—is worthy of smart, savvy design. A healthy level of friendly competition drives everyone to do better. “Everyone pushes as far as possible to create a great piece of architecture,” she says. “Everyone tries to excel. People push a lot of boundaries.”



The Pacifica Towering over the heart of Auckland, this 178-metre structure is New Zealand’s tallest residential tower and is truly a sight to behold. It’s also home to some of the most luxe accommodations in the country, including a series of super-penthouses with jaw-dropping views. While the facade is hyper-modern, it also pays homage to the old warehouse and port district’s historic past. The angular designs slicing through the exterior mimic the patterns of the neighbourhood’s old laneways rendered vertical. To counter all the glittering glass and steel, the designers incorporated lots of warm, dark timber on the interior, as well as enclosed winter gardens on the upper floors.


Tawarri Hot Springs Once opened, this sprawling 4,000-sqm site located just outside of Perth will become one of Australia’s premier wellness destinations, complete with a host of saunas, pools, treatment rooms, and dining outlets. To take advantage of the facility’s stunning natural surroundings, the design team used the sloping site to accentuate the stellar views of the Swan River and incorporated local, found limestone into the plan. The team also tried to preserve as much of the original landscape vegetation as possible, in addition to incorporating sustainable design strategies such as the harnessing of geothermal energy.



voco® South Melbourne + Vivére Apartments One glance at the striking facade of this 20-storey Melbourne stunner is enough to confirm that this is no average apartment building. One of the challenges of this site was the fact that it was situated between two tall buildings. “We didn’t want to create a sandwich tower, so we started investigating what else we can do to make that architecture fit into its context and converse with the neighbours,” says Liew. The resulting facade is filled with intentional recesses and open spaces, creating depth and movement. All the 171 hotel rooms in this mixed-use project overlook lush gardens, while the luxury apartments have a view of Port Philip Bay.



Chongqing Towers and Villas Consisting of seven glass-fronted residential towers, this bold project in Chongqing draws on the natural geology of western China for inspiration. Chongqing is built on an area that once experienced tectonic upheaval, resulting in jagged mountain ranges and rock formations stretching throughout the region. To mimic this, Plus Architecture envisioned eyecatching facades with cubic glass formations jutting out. Not only do they make for particularly dynamic structures full of movement, they also imbue the structures with a sense of place. Each building is unique and appears to have been frozen in a moment of expansion or upheaval.




River Terrace Nestled on the Nerang River, with unimpeded views of the Gold Coast and the Pacific Ocean, the two towers of this upscale residential project in Queensland are a sight to behold. To accentuate the water situated all around, Plus Architecture incorporated a series of reflection and infinity pools so that it would seem almost like the building is melting into the sea. Floor-to-ceiling windows and wraparound terraces in the upper-level apartments make the most of that cerulean panorama. Both towers twist slightly as they rise, creating a dynamic facade. Finally, the tastefully muted, earth-toned colour palette with bronze accents mirrors the nearby sandy coastline.



711 Hunter Street After winning a prestigious competition to help rethink and redesign the West End in Newcastle, Australia, Plus Architecture knew that they needed to come up with something truly visionary. The animating principle behind the firm’s concept was that of a public meeting place—a polis for a modern-day city. The project is also intended to help revitalise the district, bringing jobs and an influx of capital to help offset the economic impact of the global pandemic. Once completed, this landmark building will be home to 1,400 sqm of commercial floor space, as well as 267 residential units.



STAY GREEN The old ways of building, designing, and operating hotels are changing, with Pan Pacific Hotels Group, a member of UOL Group Limited, charting a sustainable course forward for the future of the hospitality sector

Pan Pacific Orchard, Singapore

Hoteliers have a duty to do their part in the global movement towards strong climate action. According to The World Bank, ordinary hotels have a higher carbon footprint than other types of buildings. These findings come as a recent survey shows that 83% of global travellers believe sustainable travel to be very important, with 61% attributing a desire for more sustainable travel to the pandemic. The hotel sector must cut its emissions by 66% by 2030 if it were to prevent global warming from crossing the point of no return. To do that, hoteliers need to build fewer carbonemitting edifices; retrofit existing ones; and promote sustainable hospitality practices. Hospitality properties by Pan Pacific Hotels Group, a member of Singapore-listed property developer UOL Group


Limited, which was named Best Hospitality Developer (Asia) at the 2021 PropertyGuru Asia Property Awards Grand Final, are built and managed far more sustainably than the average hotel building. The global hospitality group has made strides in utilising high-quality hardware with sustainable features, enhancing the overall lifestyle and design quotient of its projects. This ethos in sustainability shines through in three of its Singapore projects: Pan Pacific Orchard, PARKROYAL COLLECTION Marina Bay, and PARKROYAL COLLECTION Pickering. Named Best Green Hotel Development and Best Hotel Architectural Design at the 16th PropertyGuru Asia Property Awards Grand Final, Pan Pacific Orchard is a crowning achievement in sustainable building for Pan Pacific Hotels Group. The Orchard Road development is making waves



as Singapore’s first zero-waste hotel, utilising a bio-waste digester that converts food waste into plant fertiliser. In a bold move, water dispensers are installed in all its guest rooms, saving 360,000 plastic bottles a year. Pan Pacific Orchard draws energy from renewable sources such as solar panel installations and actively reduces power consumption through double-glazed low-emissivity glass. In addition, the hotel operates recyclable water systems, complemented by rainwater harvesting systems. Offering 350 eco-friendly rooms, Pan Pacific Orchard features four levels of self-sustaining sky gardens, with forest, beach, garden, and cloud themes. Approximately 30% of the hotel spaces are dedicated to foliage and greenery. Highlights include waterfalls, a lagoon, and outdoor event lawns, in addition to views of Orchard Road and the city. Winner of the Best Hotel Interior Design award at the 11th PropertyGuru Asia Property Awards (Singapore), PARKROYAL COLLECTION Marina Bay impresses as another beacon of sustainable hospitality. The development, designed by the late architect John Portman and renovated by FDAT Architects, is a triumph of green and biophilic design, bringing a “garden-in-a-hotel” concept to life with over 2,400 trees, shrubs, and groundcover, punctuated by illuminated sculptural pavilions and glass greenhouses.

The hotel even boasts an urban farm where more than 60 varieties of greens are grown and sent to its restaurants and bars where they make up 20% of fresh produce. A 13-metre-high green wall also greets guests upon arrival, immediately acquainting them with the project’s green credentials. Similarly, travellers can experience the eco-friendly, garden-in-a-hotel experience near the CBD, Clarke Quay, and Chinatown at the PARKROYAL COLLECTION Pickering, Singapore. Guests can admire the Singapore skyline from the outdoor infinity pool and cabanas at the hotel’s dedicated Wellness Floor or simply relax at the celebrated St. Gregory Spa. Designed by Singapore-based sustainable design practice WOHA, the property boasts lush landscaping that blends with the sweeping greenery of nearby Hong Lim Park. Pan Pacific Hotels Group will advance its sustainability agenda further afield this year with the May opening of PARKROYAL COLLECTION Kuala Lumpur, the company’s new green icon in Malaysia. Pan Pacific Orchard is slated to open not long after in March 2023. As the world continues to change, green building advocates will surely watch Pan Pacific Hotels Group’s pioneering, revolutionary sustainable ideas with keen interest.


Bogor and better BY JONATHAN EVANS

One of the most appealing locations in West Java, Bogor combines scenic splendour and a host of lifestyle perks with easy access to Jakarta




The Sanctuary Collection

JP (Jasmine Park) Apartment

Bumi Aki Puncak

An under-construction township in Sentul City, this joint project by Perennial Holdings, Harita Group, and Qingjian Realty Group sprawls across the verdant mountainous terrain synonymous with Bogor. The lush result is a 1,750-unit retreat in perfect harmony with its surrounding nature. Its minimalist design optimises natural light as its location gifts swoonworthy views. Sanctuary Collection is also surprisingly close to modern amenities including transport (the upcoming Light Rail Transit links Sentul to central Jakarta), educational facilities, shopping and F&B outlets, hospitals, and golf clubs. But its substantial grounds also encompass a raft of leisure facilities that maximise the fresh mountain air. With its first units ready for habitation later this year, this might be as close as home-seekers can get to a dream lifestyle within the megalopolis.

Location is key to appreciating Jasmine Park: a metropolitan triple-tower project from developer Greenwood Group designed with mobility in mind. Situated in the heart of Bogor, it lies only minutes from the university campus; rail, road and bus links; shopping malls; and hospitals. The project’s 12-storey towers are divided between one- and two-bedroom units, making it ideal for students attending the nearby Institut Pertanian Bogor (IPB) agricultural university. The complex encompasses a food court, commercial area, gym, supermarket, and swimming pool.

Bumi Aki operates a string of acclaimed restaurants around Bogor. But the dreamy vistas of its Puncak outlet—north of Mount Gede in a lofty location favoured by cool-airseeking Jakarta weekenders—is the pick of the bunch. Kitted out with sturdy wooden interiors and looking out onto the scenic tea plantations, the semi-alfresco, familyoriented space conjures a cosy atmosphere enhanced by a kids’ playground and live entertainment. The heavily carnivorous menu features perennially popular Sundanese traditional dishes including goat satay and oxtail soup. But the fish dishes (including carp, prawns with pepper sauce, and fried tilapia) receive the most ecstatic plaudits from customers who rate Bumi Aki Puncak as one of the best eateries in Bogor.


From its medieval beginnings as the Sunda Kingdom’s capital to the administrative centre of the Dutch East Indies, Bogor has played an essential role in Indonesia’s historical evolution. These days, the greenest constituent city of modern-day Greater Jakarta is best known as the summer home of President Joko Widodo. Bogor is also regarded as a hub for culture and education. Its higher elevation between Mount Salak and Mount Gede, scenic terrain, mild climate, and expansive parkland, as well as its location close to Jakarta, all work in its favour. Therefore, it’s no surprise that it has become a fertile environment for premium housing initiatives in West Java, as the latest developments in the area underline.



AEON Mall, Sentul City

Grand Garden Cafe and Resto

Another spectacular example of AEON’s expanding footprint in Southeast Asia, Bogor’s big retail hitter is one of the city’s most talked-about openings of recent years after debuting in October 2020. With towering residential buildings surrounding the mall and offering direct access to it, the overall vision is more akin to Singapore’s skyline than suburban Jakarta—an impression only reinforced by the Opus Park condo, directly behind it, which bears more than a passing resemblance to the Marina Bay skyline. AEON’s drive towards “life design” and sustainability are on full display throughout, as is the emphasis on high-quality tenants and Japanese brands. Among the top names on offer across the mall’s six levels are H&M, Uniqlo, Miniso, The Body Shop, Samsonite, and BMW, along with a vast range of Indonesian and Japanese F&B outlets, while a Cinema XXI also keeps patrons entertained.

Formerly known as Cafe Dedaunan, the Grand Garden will be familiar to not only visitors at Kebun Raya Bogor (see next) but also to select overseas dignitaries, including Barack Obama, a guest of Joko Widodo on his home turf in 2017. With its panorama across the lawn, its lily ponds, and its fountains, it’s unlikely you’ll find a more regal setting in Bogor. Prices tend to reflect the venue’s stateliness. Indeed, an extra entry fee also applies to visitors before 4pm. But the experience is worth the splurge. Menus, created in collaboration with the Istana Bogor kitchen, draw deep on local culinary delights such as ayam goreng (deep-fried chicken), surabi (pancake), fried rice, satay, and es kelapa (coconut ice cream).

6 Bogor Botanical Gardens One of Indonesia’s most enduring attractions, Kebun Raya Bogor (“Great Garden”) has for two centuries drawn scientists, wildlife, and nature lovers to its 87-hectare expanse, which today contains almost 14,000 tree and plant specimens. Founded in 1817 by Dutch colonialists who discovered that the area’s rainy climate and volcanic soil were conducive to cultivating tropical plants, and re-landscaped by thengovernor Stamford Raffles during the brief British occupation, the Gardens have since served as an agricultural and horticultural research centre. Several outstanding features distinguish Kebun Raya’s eclectic grounds, notably a Mexican garden; a Dutch cemetery; a vast orchid collection; the 1894 Zoology Museum, with its thousands of insect and animal species; and the beautiful Gunting Pond, next to another major visitor draw, the Presidential Palace (Istana Bogor), which was originally built in 1744.



CHANGING OF THE GUARD The Philippines’ real estate market is rebounding strongly from its pandemic slump. And with fresh leadership imminent, there’s a bullish mood among investors and developers BY AL GERARD DE LA CRUZ



ith a widow battling a Marcos dynasty scion for power, the 2022 Philippine elections are harking back to a transformative, revolutionary time in history. But as political faultlines split and culture wars rage between front-running candidates VicePresident Leni Robredo and rival Ferdinand Marcos Jr., another divide emerges. Property-seeking Filipinos are split between the haves and the have less. Careful investors eye affordable off-plan units in the big city while the rich seek more imeldific (the neologism is a nod to former first lady Imelda Marcos’ ostentatious displays of wealth) properties in suburbia.


The real estate market appears to have passed an inflection point. Despite Covid-19, the economy grew 5.6% in 2021, reversing course from the 9.6% contraction in 2020. Nationwide, residential prices increased 6.3% in Q3 2021, the first year-on-year uptrend in four consecutive quarters, central bank data show. “The general residential market remained weak but improved relative to 2020’s performance,” says Michael McCullough, managing director of the consultancy KMC Savills. “The luxury segment was the most resilient while the midsegment showed recovery signs.” The take-up of most condominium price segments resumed its ascent towards the end of the year, data from Leechiu Property Consultants show. Around 8,159 primary units were sold in Q4 2021 alone, a 12% quarterly increase. A total of 38,065 units ultimately moved last year, representing an annual sales decline of just 11%, compared to 21% in 2020. Metro Manila will, in fact, likely fall short on condominium inventory in the long term. Although nearly 165,000 units are pipelined for the next seven years—with 34,600 units for 2022 alone—around 76% of them are already sold. “Developers should start introducing new supply,” says Roy Golez Jr., director of research at Leechiu Property Consultants. “The buyers are there, especially with the more optimistic environment. Money will be looser, freer.” With the benchmark rate at an all-time low of 2%, developers would be better capitalised 128


ISLAND LIVES The 7,640 islands of the Philippines are back in business. In February, the country reopened to fully vaccinated visitors from 157 countries who could test negative for the virus. As foreign arrivals crashed to just 58,177 in the first half of 2021, domestic tourists rallied behind the archipelago’s ailing hospitality sector. Locals filled hotels and resorts to 44% occupancy in H2 2021, up from 20% the previous year, according to Colliers Philippines. Metro Manila residents sought reprieve in tourist attractions within a five-hour driving distance, in such provinces as Bataan, Batangas, and Zambales. “We have so much to offer in terms of our destinations, and if the travel and tourism industry wakes up and becomes freer, that would be the next

leg of our growth,” says Roy Golez Jr., director of research at Leechiu Property Consultants. An estimated 84.8 million domestic trips will be taken in 2022, tourism authorities predict. At this rate, domestic tourism will overlap even more with second home and resort markets, buoyed by the continued ascendancy of work-from-home arrangements. Recently, the middle market has taken to acquiring cheap property in beach towns such as Morong and Mariveles in Bataan and Nasugbo and Calatagan in Batangas. “This feels like the 1990s when there was a boom in beach and mountain subdivisions that were resortthemed,” says Golez. “I think it’s a reaction to the pandemic. So many people saved on travel.” 129

to dust off stalled projects. “Developers, not necessarily the buyers, are more willing to borrow,” adds Golez. “If developers get funding, then there will be more units released to the market. I’m partial towards supply because the profits can be adjusted on the developer side to make it easier for buyers to absorb units.” The Manila Bay Area and Greater Ortigas will likely account for 47% of condominiums set to complete through 2026, according to analysts from Colliers Philippines and KMC Savills. Around 4,130 hectares of land are being reclaimed across the bay, formerly a hedonist’s hub peopled by Philippine offshore gaming operators (POGOs). Recent POGO levies like Republic Act 11590—plus onerous pandemic restrictions—destroyed goodwill with operators, lured to the country by outgoing President Rodrigo Duterte’s détente with Beijing. Around 28 POGO licensees have ceased operation since March 2020. On cue, rents dropped by up to 40% across Metro Manila as gamblers moved on to places such as Cambodia and Dubai.


“There had been a parabolic increase in rents in 2019 before the pandemic so they just somehow went back to what they should have been pre-POGO growth,” says Golez. “The POGO market had just wanted to get whatever was available for their employees.” Marcos is expected to woo POGOs back to the Philippines if he wins power. Shortly after declaring his run for office last year, he met with Huang Xilian, the top Chinese diplomat to the country. Around 677,000 sqm in committed POGO spaces remain today in Metro Manila. “POGOs may return to play but not as ferociously as before, considering the issues related to tax regulations,” says McCullough. “There will be a positive spillover effect to residential demand, but the magnitude will also be contingent on what the new administration dictates.” Flexing their purchasing muscle in the absence of POGOs, affluent locals and OFWs (overseas Filipino workers) looked at good buys in horizontal Metro Manila developments,

including elite communities such as Ayala Alabang, Forbes Park, and Dasmariñas Village. No longer siloed to offices due to more flexible work arrangements, cash-rich property seekers also decamped to beaches and scenic locations just outside the capital. House-and-lot and lot-only projects in nearby provinces such as Batangas, Bulacan, Cavite, Laguna, Pampanga, and Tarlac were 86% to 97% sold in 2021, according to data from Colliers. Horizontal projects further afield in Cagayan de Oro and Iloilo also recorded positive take-up. “Despite the pandemic, the wealth of the high-end market has been parked in real estate because we can believe that it’s a preservation of asset,” says Golez. “They are moving from their large condos to these large houses for open-air and perceived health benefits.” Vertical developments nonetheless also prospered outside Metro Manila, with condominiums in Cebu and Davao

LEGACY MOMENT President Rodrigo Duterte leaves behind a divisive legacy. He is infamous for his brutal crackdown on drug traffickers, but policies such as his infrastructure program enjoy multi-pronged support. A champion of decentralisation, Duterte helped design Administrative Order 18 that kept the Philippine Economic Zone Authority (PEZA) from accrediting additional ecozones in Metro Manila. “At least for this administration, the direction is very clear, which is to decentralise and open more avenues for investments,” said Dom Fredrick Andaya, senior director for office services at Colliers Philippines, in a recent media briefing. “But once the market recovers, say over the next two to three years, there may be a need for more PEZA spaces in Metro Manila.” While some developers in the metropolis resented the moratorium, others welcomed the passage last year of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The law effectively lowers corporate income taxes every year until 2027, among other fiscal incentives, to stimulate the pandemic-ravaged economy.


With financing from the Japan International Cooperation Agency (JICA), Duterte’s Build, Build, Build program is partially opening this year the country’s first underground transit system: the Mega Manila Subway. The program has also partnered with conglomerate San Miguel to build a massive air hub, the Bulacan International Airport, by 2026. “The priority to boost additional infrastructure will not only spill over directly to the real estate market through unlocking property values but will also address longtime issues related to traffic congestion and unemployment through additional transit systems,” says Michael McCullough, managing director of the consultancy KMC Savills.



commanding prices in the echelons of PHP370,000 (USD7,200) and PHP318,000 (USD6,200) per sqm, respectively, according to Leechiu. Appetite for studios and other small-cut condominiums dropped while that for twobedroom units or larger surged, the consultancy Santos Knight Frank reports. “Demand for bigger cuts is driven by HNWIs from abroad providing support for their families in the Philippines, and OFWs or OFW families who are upgrading or resettling,” explains Marievie Gimena-Villanueva, associate director for residential services at Santos Knight Frank. Duterte’s signature Build, Build, Build infrastructure program has unlocked land values in and out of Metro Manila. Land prices in the country’s financial centres, Bonifacio Global City (BGC) and the Makati CBD, have already hit up to PHP846,800 per sqm, according to Colliers. The firebrand leader exits the presidency with 162 kilometres of transport infrastructure projects set to complete across the capital by 2025. These include the 25-kilometre, Japanese-funded Mega Manila Subway, the country’s first underground rapid transit system. The program also realises the 2,500-hectare Bulacan international airport, a long-awaited alternative to the capital’s increasingly obsolescent gateway.


Several presidential candidates vowed to continue Duterte’s infrastructural legacy, chief among them Marcos and his running mate, Sara Duterte, the daughter of the current president, as well as international boxing champion Manny Pacquiao. “We need the infrastructure program to get us out of this economic crisis where we are right now,” says Golez. “We should continue with the infrastructure projects because those are the only ways we can keep providing additional employment, especially to those who have lost jobs in the service industry.” To uplift cash-strapped property seekers, some developers have stretched monthly amortisations of pre-selling units to a previously unheard-of five years or long after the building is completed. “These developers are doing all these buyers a big favour by allowing them to pay for so long,” says Golez. “But then, of course, it’s also to the developers’ survival, lest they can’t sell anything.” On the same grounds, the presidentiables blazed the campaign trail with populist promises of shelter. Robredo, the former housing secretary, pledged to allocate PHP50 billion annually to an in-city subsidised housing program


as opposed to far-flung resettlement schemes where employment prospects are scarce. Manila Mayor Isko Moreno planned to roll out a nationwide version of his housing projects for the underprivileged in the old city. Pacquiao aimed to emulate Singapore’s public housing board projects while Marcos—whose family’s controversial real estate holdings are legion—wanted to recapitulate a housing program pioneered by his father. The private sector could also jump into the altruistic fray. Developers are currently required to build socialised housing projects equivalent to 15% of their development costs, but this compliance rate could be raised back to 20%, analysts suggest. “The Filipino in me tells me that what’s needed is to support the lowest market segment,” says Golez. “So we need new legislation to provide bigger budgets and funding to the lowend market because there’s no profit there for developers.” Salaried renters could be looking at a return to their urban pieds-a-terre sooner than expected. With more than half of the country’s population vaccinated, the Philippine Economic Zone Authority (PEZA) has begun issuing onsite capacity requirements for landlords’ compliance.

Propelled by such return-to-work initiatives, residential rents and prices in the secondary Metro Manila market could see a growth of 1.7% and 1.5%, respectively, in 2022, following a slump in both metrics last year, Colliers projections show. Despite headwinds from POGO vacancies, capital values of both primary and secondary homes in major business districts across Metro Manila have held stable, reports Golez. “The pricing for primary units is increasing, but the secondary market is where we see the impact of the pandemic.” Most analysts envision a slow upward movement along the recovery curve for residential property. With consumer and business sentiment improving, the market could be firing all cylinders in the second half of the year, just in time for a new premier. “The Philippine residential real estate market is attractive because it continuously evolves based on what the market dictates,” says McCullough. “While it’s experiencing a general slowdown amid the pandemic, it can bounce back and adapt with what the next normal will require. The real growing demand has led to long-term price appreciation which has rewarded residential investors in recent years.” 133

LOSS OF BALANCE Singapore’s response to the pandemic has been predictably thorough, but supply chain issues have sent property prices into overdrive BY GEORGE STYLLIS





hen the pandemic hit Singapore, the country responded with predictable urgency. Tight border controls and lockdowns achieved the desired effect of keeping the virus from spreading and causing the kind of casualties seen elsewhere. But the health crisis has upset what has been a source of pride for many years: the country’s finely balanced housing market. In 2021 the city saw its highest price rises in more than a decade. After year-on-year growth of 3.3% in the first quarter of last year, prices soared to finish the year with a lurch upwards of 10.6%, according to figures from Singapore’s Urban Redevelopment Authority.

“The price index hardly moved. There was a balance in supply and demand. You didn’t have foreigners rushing in to buy real estate. “And then there was the uptick towards the end of last year,” she adds. The year saw landed property prices surge highest at 13.3%. Prices for non-landed homes jumped 9.8%. Indicative of this rampant demand, the landed development Belgravia Ace sold an impressive 72% of units in the month of its launch in January this year.

Sales galleries were shut, and viewings were prohibited during four months of strict restrictions. Once these were lifted, a wave of demand was unleashed, and sales volumes and prices started to rise.

One of the main reasons for the price increases has been a delay in the construction of new projects. Labour shortages, lockdowns, and price rises for raw materials because of the pandemic have created a “perfect storm”, says Thorsteins.

“It was flat from the end of 2017 to the third quarter of last year,” says Kristin Thorsteins, head of partnerships at IWC Plc, which provides companies with flexible working spaces.

This, she says, has disrupted the balance in the housing market. People are fearful of waiting for new builds to be completed due to rocketing prices. But values of the



GENTING RAISES THE STAKES The pandemic may have upended the tourism industry, but Genting Singapore still believes there is still everything to play for as it pledges to invest USD300 million to revamp its casino resort and theme park. The gaming company said it will renovate its three hotels, with over 1,200 rooms, at Resorts World Sentosa from the second quarter onwards through 2023. “The current lull period from the pandemic presents us a window of opportunity to renovate and refresh our hotel offerings,” said Genting. The announcement comes as Genting’s rival Marina Bay Sands, which recently reported improved

earnings at its Singapore casino, also announced plans for an upgrade of its iconic property to the tune of USD1 billion. Genting said it is also expanding its Universal Studios Singapore theme park, with the construction of new attractions such as Minion Land and Singapore Oceanarium, which will be three times bigger than the current Southeast Asia aquarium. “As we anticipate a gradual return of visitors from our traditional markets over the next two years, we remain resilient and continue to harness opportunities to refresh and build new visitor offerings to emerge stronger from the pandemic,” it said.


Singaporeans have always been sensitive to cost-of-living issues. We should expect housing costs to continue to weigh on people’s minds and electoral behaviour

existing secondary property market are also shooting upwards as impatient investors vie for deals. “It seems to be for residential that it’s caught in a perfect storm where you’ve got lots of developments that have been delayed,” she says. “The workers couldn’t get into the country. So people have not moved out of their houses and into their built-to-order. “When the pandemic hit, everyone was expecting an avalanche of distressed sales but there is just so much money chasing these deals that prices haven’t come down at all.” While the resilience of the housing market is a testament to the city-state’s strong economic fundamentals, it has strained a model the government has long tried to keep stable. For decades, Singapore’s government has kept close tabs on property prices to ensure housing remains affordable for locals and stays in step with economic fundamentals, with officials aware of it being a haven investment for wealthy foreigners. One of the main ways it has done this is with a subsidised housing scheme. Since its launch in 1960, the Housing Development


Board (HDB) has been tasked with rapidly increasing the supply of affordable homes to rent. The scheme is widely seen as a success. Around 80% of the country’s population live in an HBD unit. The enlightened policy is a key factor in why Singapore’s property market has avoided the sheer imbalance witnessed in regional rivals like Hong Kong and Seoul. Yet analysts fear that might soon change unless prices come down and the supply of new properties increases. “You have for the first time SGD1 million (USD737,520) HBD flats. They had never hit a million dollars until two years ago when the pandemic hit,” says Tee Khoon Tan, country manager of PropertyGuru Singapore. “Last year we had about 150 HDB flats that were sold for a million dollars.” The dwindling affordability of HBD flats is more pressing given the rise of WFH culture and the trend for young couples and singles to seek their independence rather than live in multi-generational homes. According to official data, the demand for build-to-order flats jumped 70% in 2020 with some 87,800 applications.


F1 GETS GREEN LIGHT Singapore will continue to host its F1 Grand Prix for another seven years, potentially helping lure back the hundreds of thousands of tourists that visited before the pandemic. Around 268,000 spectators filled the stands at the Marina Bay Sands circuit in 2019. The tournament was cancelled in 2020 and 2021 due to the virus. “I am delighted that Formula 1 will continue to race in Singapore for another seven years,” says Formula 1 President and CEO Stefano Domenicali. Tourism businesses and retailers have welcomed the news. Since debuting in 2008, the F1 race in

Singapore has generated more than SGD1.5 billion (USD1.1 million) in tourism receipts, with much of the event’s planning and development sub-contracted annually to Singapore-based companies. “Singapore holds a special place on the F1 calendar, and this extension is part of our long-term commitment to continue to grow the sport in Asia,” said the company. Keith Tan, chief executive of the Singapore Tourism Board, told Channel News Asia the agency was “confident that the race will continue to generate significant economic benefits and global branding value for Singapore”.



Ng Kok Hoe, a research fellow at the Lee Kuan Yew School of Public Policy, said unless prices come down to pre-pandemic levels, people will feel priced out as they did in the lead up to the 2011 general election when housing affordability was thrust into the spotlight.

“If left unchecked, prices could run ahead of economic fundamentals, and raise the risk of a destabilising correction later on. Borrowers would also be vulnerable to a possible rise in interest rates in the coming years,” the government said in a statement.

“Singaporeans have always been sensitive to cost-of-living issues. We should expect housing costs to continue to weigh on people’s minds, and on electoral behaviour,” he told the media.

Analysts expect prices to continue to rise this year but to between 1% and 4%, with the measures having less impact on Singaporean citizens and permanent residents who are buying a home to live in than on foreigners looking to buy. Trisni Djohari, a PropNex real estate agent, said of her Indonesian clients in a media interview: “Most of them state that now they have to think twice [before they] buy property in Singapore,” she said.

In a bid to cool down the market, the government introduced cooling measures in December last year to stabilise the market. It raised the additional buyer’s stamp duty (ABSD) for foreigners from 20% to 30%. It also increased the rate for citizens buying their second homes from 12% to 17%. For third and subsequent homes, the rate rose from 15% to 25%.


For the government that might be a price worth paying if an order is to be restored to its housing market.

RAFFLES GOES BACK TO ITS ROOTS Iconic hotel brand Raffles is due to open its second property this year as Singapore’s first all-villa resort more than a century after opening its original in 1887. Raffles Sentosa Resort & Spa Singapore will be set in 100,000 sqm of lush tropical gardens. The property, being developed by Accor Group in partnership with Royal Group, will comprise 62 villas of between 260 sqm to 450 sqm, each with its private pool and terrace area, and will include restaurants, a bar and a fitness centre. Room rates are expected to be higher than those of the original Raffles Hotel, said a spokesperson, at between SGD875 to SGD2,500 per night. “The original Raffles Hotel was conceived as a beachfront property, but as Singapore has grown, now it’s located in the thriving centre of the city,” said Peter Wilding, managing director of Royal Group. “Raffles Sentosa Resort & Spa Singapore will return the brand to the beach and create a modern resort experience that captures the balance of tradition and modernity in a serene and idyllic setting.”


CITIES WITHIN CITIES As Asia’s urban hubs continue to expand, often out of control, township developments that prioritise smaller, localised areas are increasingly seen as an answer to sustainability challenges BY LIAM ARAN BARNES



Asian cities are hubs of economic and social opportunity, for people, business, and many other things. And they are booming


hen Merdeka 118 in Kuala Lumpur finally tops out later this year, it will become the world’s second-tallest building. Rising 2,227 feet, the superstructure will feature a four-storey observation deck with views of Petronas Towers, The Exchange 106, and Four Seasons Place—Southeast Asia’s third, fourth, and fifth tallest completed buildings, respectively. Like sky-high counterparts in Bangkok, Manila, Jakarta, and Ho Chi Minh City, KL’s mega-tall properties are a testament to the literal rise of the region’s cities in recent years. They also provide a bird’s eye reminder of the sheer sprawl that now defines each of these metropolises. These traffic-clogged, stack-’em-high urban landscapes represent one of the most significant population shifts in human history. On average, Asia’s urban populations have swollen by 3.4% every year since 1970, according to the United Nations’ 2019 report The Future of Asian and Pacific Cities, compared to just 1% in developed nations. “Asia’s future is urban,” says Dr. Robert Guild, chief sector officer in the Sustainable Development and Climate Change Department of the Asian Development Bank. “Asian cities are hubs of economic and social opportunity, for people, business, and many other things. And they are booming.” The region is already home to 17 of the world’s 33 megacities each with 10 million-plus people. A recent Attitudes Survey conducted by real estate consultancy Knight Frank, meanwhile, found that Asian buyers maintain a preference for urban living, whilst the rest of the world is increasingly eyeing and buying in suburban, resort, and coastal destinations. Although urban amenities, connectivity, and economic opportunities are obvious draws to the bright lights, Guild adds that “the growing urbanisation we see does not neatly translate to increased opportunities for residential populations. As Asian cities grow, the urgency to address critical development issues becomes ever greater.” Indeed, this breakneck growth is often at the expense of 144

liveability. The myriad development challenges Asian cities face today range from a widespread lack of infrastructure to rising inequality and climate crisis-induced aggravations. And they are only set to worsen. More than half of the population now live in urban areas for the first time, and this figure is expected to reach 3.5 billion by the middle of the century. This is the equivalent of adding four Tokyo-sized cities every year until 2050. Add pandemic-induced anxieties and growing demand for environmentally-friendly development to the equation, and it’s understandable why many believe that the current model of unplanned, sprawling development is simply unsustainable. Instead, the case is being made for active travel and neighbourhood designs that promote physical activity, enhance social connections, and strengthen mental health within smaller, localised areas. “Through a reduced footprint for our cities, a mix of uses, and increased neighbourhood densities, we can promote efficient public transport, urban mobility, and walkability,” says Prashant Kapoor, chief industry specialist at the World Bank Group. “We can revitalise our city centres, minimise greenfield development, encourage shared infrastructure, and creatively explore opportunities for flexible use or adaptive reuse.” In many ways, the pandemic has acted as a catalyst for changing purchasing patterns, with homeowners increasingly inclined towards high-quality developments with integrated infrastructure. A recent global report by PWC claimed that families in most emerging economies would prefer moving to a gated community. Call them urban townships, integrated communities, or cities within cities, but developments comprising hospitals, schools, retail and green space are encouraging developers to become more innovative about how they design and build commercial and residential real estate, according to Shaishav Dharia, CEO of Townships and Annuity Assets at Lodha Group, one of India’s biggest real estate companies. “An extremely well-planned township makes use of every single piece of land or area by converting it into a multifunctional area. For example, a lake could be used as a retention pond while also adding to the beauty of the landscape,” he says.“Good quality homes are nicely packaged with a landscaped environment, intelligent layouts, wide roads, and spaces for leisure and entertainment.” With that in mind, we round up some of the latest awardwinning urban township developments from around the region.

Star Platinum Eco Collection Phase I by Peng Huoth Group


eveloped by Peng Huoth Group—one of Cambodia’s most prolific—and successful real estate companies—Star Platinum Eco Collection Phase I is the latest addition to the country’s largest-ever planned township. Construction of the 200-hectare Star Platinum, located in Phnom Penh’s flourishing southeastern suburbs, started back in 2010. Over time, it has evolved from a purely landed housing scheme to incorporate the Southbridge International School, a condominium project, and the under-construction PH Eco Mall, making it the first residential township in Cambodia to encompass upscale and sustainable lifestyle amenities.

Other stellar lifestyle amenities include a bustling strip with cafes, boutiques, and Eco Sunrise, a retail shophouse project; a water park; jogging and cycling tracks; a yoga and tai chi deck; and the sixstorey clubhouse for community events. Downtown connectivity via nearby National Road 1 is also a boon for commuters.

One of the community’s most ambitious residential installments to date, the 350,000-sqm Eco Collection Phase I is home to 900 villas in various styles laid out amidst wide tree-lined boulevards, acres of recreational green space, and water features inspired by Phnom Penh’s golden 1960s era. 145

Ecopark Tourism and Trade Urban Area by Ecopark Corporation Joint Stock Company


eveloped by Ecopark Corporation Joint Stock Company, a joint venture of several Vietnamese property companies, the mammoth 500-hectare master-planned development beyond the eastern fringes of Hanoi is a world away from the capital’s notorious pollution and congestion. Indeed, the USD 10-billion project is billed as a “perfect harmony of humans and nature”, boasting of “various open areas where you and your family can go for a walk or simply sit under the shade of a tree for a picnic, and enjoy nature at its best”. One of the largest township developments in Vietnam, with a capacity of about 110,000 residents, the EDGE Green-certified Ecopark will upon completion in 2030 feature high-rise condos, low-rise villas, office blocks, hospitals, cinemas, retail, and schools all combined with abundant nature spanning more than 100 hectares of greenery and waterfront—or 20% of the total area. The development already comprises several connected but separate areas, including a “resortstyle community” with swimming pools, tennis


courts, and outlet shopping. The private British University Vietnam has also built a USD 70-million campus for 7,000 full-time students. In April 2021, meanwhile, Ecopark unveiled plans to add a “floating shopping mall”—already dubbed Vietnam’s Little Venice—consisting of a central piazza surrounded by three towers. Once completed, it will feature more than 100 retail brands, reputable restaurants, and even roadside onsens.

Bandar Sri Sendayan by Matrix Concepts Group


ince launching just two decades ago, Matrix Concepts Group has established itself as one of Malaysia’s top township developers. And the firm’s latest project, Bandar Sri Sendayan, looks set to become its flagship development for the foreseeable future. Located within the Greater Klang Valley, close to major roads, and the soon-to-be-developed high-speed train to Singapore, the self-contained, self-sustaining lifestyle community is part of the wider Malaysia Vision Valley integrated economic region. Across 6,270 acres, spacious, landscaped phases of the project are dedicated to residences, recreational facilities, and commercial amenities targetting multi-generational homeowners, investors, and the local workforce.

recreational facilities, and educational institutes— most notably the 380,000-sq-ft d’Tempat Country Club, as well as Carnelian Park, and Matrix Global Schools. More than 13,000 units, including single-storey villas, two-storey storey link houses, and semi-detached bungalows, have already been completed, with plans afoot to add a further 8,000 homes in the coming years. Residents, meanwhile, have access to an array of adrenaline-fuelled pursuits at the X Park extreme sports facility, including a paintball field, electric gokarting, playgrounds, jogging and reflexology paths, and the private gazebos that serve each residential parcel.

At the heart of the development sits Sendayan MetroPark, Bandar Sri Sendayan’s main retail hub with 132 outlets. At the same time, the nearby Sendayan TechValley will target businesses focused on sustainability and renewable resources. In addition to retail and commercial offerings at Sendayan Merchant Square and Sendayan MetroPark, the township is home to a range of lifestyle amenities, 147

Davao Global Township (DGT) by Cebu Landmasters, Inc.


ccupying the site of the former Matina Davao Golf Club, Cebu Landmasters aims to transform this prime location in the heart of Mindanao’s main hub into an ambitious 22-acre development on par with the region’s most coveted townships. Developed with the city’s future in mind, Davao Global Township was conceived with support from master-planner CallisonRTKL, a global design firm responsible for the revival of numerous downtown districts in the US, China, and Japan. The PHP10-billion first phase, set for completion later this year, boasts a complete range of developments and open spaces inspired by the great outdoors. It will feature 93,000 sqm of gross floor area, including a corporate centre, two high-end residential towers, a retail strip with a cineplex, outdoor boutiques, and a civic hub. In the coming years, a key driver for the Davao property market will be infrastructure spending. 148

Notable projects, such as the Davao Coastal Road, Davao Monorail, Mindanao Railway Project, and Davao Bus Rapid Transit, are already in the works and are expected to elevate the local economy and, in turn, the real estate sector.

Paramount Petals by Paramount Land


ollowing the success of its nearby Gading Serpong township, award-winning Indonesian developer Paramount Land recently launched its latest self-sustained mega-project. Located on the fringes of West Jakarta in Tangerang, Paramount Petals combines residential, commercial, civic, and lifestyle spaces in an eco-friendly environment spanning 300 hectares. Notable highlights include an international school, the Bethsaida Hospital, and a multifaceted clubhouse, as well as an entertainment district with retail and sports facilities.

Meanwhile, the recently launched second cluster, Canna, will add a further 427 homes. Each of the landed houses is designed with high ceilings and a mezzanine option to promote flexible spaces and cater to the rising demand for home offices. The township, slated for completion in about 20 years, will eventually be home to more than 80,000 residents.

Masterminded by AECOM, the firm behind One World Trade Center and Port of Los Angeles Waterfront in the US, the design of the integrated development focuses on sustainable development principles and a “one-stop living” concept. The 129 units within the first residential cluster sold out within weeks of hitting the market in 2020. 149


RETURN TO HOME Great developments offer one-of-a-kind and state-of-the-art urban lifestyle for discerning property seekers in the Philippines

With vaccination rates soaring and borders opening, Filipinos and foreign nationals alike are going back to live, work, and play in the Philippines’ biggest cities. Analysts expect residential demand to rebound in 2022 as business, investor, and consumer sentiment turn more upbeat. In step with the renewed confidence in the economy, property hunters are looking once more for strategically located condominiums and pieds-à-terre in the Philippines’ capital Manila, and the country’s second-biggest city Cebu. RLC Residences, the residential arm of the seasoned developer Robinsons Land Corporation, has over the last few years expanded its presence to the metropolises’ most coveted locations. In fact, RLC Residences’ developments are destinations in themselves: mixed-use complexes often defined by full-scale shopping malls, all-important hubs of Filipino life. One such “destination estate” is The Magnolia Residences in New Manila. Part of the sprawling Magnolia Town Center master-planned by RTKL & Associates, the condominium towers are integrated with the township’s premier retail component Robinsons Magnolia. Accessible from reputed healthcare facilities like St. Luke’s Medical


Center and academic institutions like St. Paul University, the residential development abounds with family-friendly facilities and amenities, an homage to the famous Magnolia Ice Cream House that once stood onsite. In Cebu City, a similar lifestyle proposition is at play with Galleria Residences Cebu. The three-tower condominium project is integrated with the Robinsons Galleria Cebu shopping mall, plus the Cybergate Galleria offices and Summit Galleria Hotel. Located along Gen. Maxilom Avenue, the project also sits near Sacred Heart Hospital, Chong Hua Hospital, University of San Carlos, and University of Cebu. The resort-inspired development is known for its wellness amenities, giving discerning property seekers an oasis of their own in Cebu Island’s bustling, beating urban heart. RLC Residences has cornered prime locations in one of the most happening neighbourhoods of Metro Manila: Ortigas Center. Home to the Asian Development Bank compound and the nation’s largest corporations, the district is the site of The Residences at The Westin Manila Sonata Place and The Sapphire Bloc, two of RLC Residences’ finest projects to date.


A partnership between RLC Residences and Marriott International Inc., The Residences at The Westin Manila Sonata Place brings the trademark Westin touch to Philippine condo living. Homeowners enjoy hotel-style perks like regular housekeeping; in-home dining with signature healthy options from Westin; in-residence spa; and even pet services. They may also take advantage of fitness and move studio trainers and lap pool attendants, as well as 24/7 concierge from The Westin Manila Sonata Place hotel. The units themselves, which range from penthouse suites to one-bedroom units, are the height of luxury, with fittings from Duravit, Gaggenau, Hansgrohe, and Leicht. The Sapphire Bloc stands above Onyx, Sapphire and Garnet streets at the heart of Ortigas Center. The four-tower condominium development offers a well-curated variety of retail establishments and F&B options in one spot— residents never have to venture far for their shopping and nutritional needs. This so-called “lifestyle bloc” also has a one-of-a-kind façade inspired by Art Deco architecture.

With many people still working from home, it’s more important than ever for developers to offer a comprehensive range of amenities to property seekers. RLC Residences proved this last year with the successful launch of SYNC-Y, the latest of its four SYNC residential towers in Pasig City. SYNC-Y is filled to the brim with fitness, entertainment and leisure amenities, including a jogging trail with views of the Metro Manila skyline, plus a gym, lap pool, private theatre, and game room. The collection of studio units and one-bedroom flats are worth spending time in, with their unique work-from-home areas and smart home features. They include an audio-visual intercom system to check guests and deliveries; digital locksets; and socket and light controls. It’s a changing, healing Philippines out there. With that in mind, RLC Residences is prepared to meet every home seeker’s needs as the nation’s cities slowly but surely stir back to life again.



Capital pains Great fanfare greeted the naming of Indonesia’s new capital, Nusantara, but real estate analysts don’t expect any significant shift in emphasis away from Jakarta in the near future By Steve Finch


hen Myanmar moved its capital city to Naypyidaw on November 6, 2005, civil servants in Yangon received just two days’ warning. The exact date and time were selected, in secret, by soothsayers employed by the military government. The relocation of the Brazilian capital in 1960 was 133 years in the making. The name Brasilia was first selected in 1827. Both undertakings—like most capital relocations—received widespread criticism



years before they were completed past deadline and over budget. Nusantara, the future capital of Indonesia in East Kalimantan province, is beset by similar headaches. Billed as an eco-friendly answer to sinking Jakarta, the new administrative hub in Borneo promises green construction and a host of liveability perks. Yet, critics warn building works will clear thousands of square kilometres of forest.



State city planners have marked a cross where the new presidential palace will eventually stand. But plans to break ground by the end of 2021 were delayed, a sign that stage one of the new city may not be completed by the target date of 2024 when civil servants are due to relocate from Jakarta. Construction has begun on a dam which will provide water for the new city. Work is underway on access roads to allow initial construction work at the site, now expected to break ground in the second half of 2022. “We are optimistic. We are currently completing logistics and roads,” said Minister of National Planning Suharso Monoarfa following the latest of his many visits to the site in mid-January. “The acceleration is extraordinary.” A slick government website for the project details plans to add a new economic area to Nusantara by 2035, including government incentives for the private sector. But the city is not slated for completion until 2045. What happens between now and then will determine the broader trajectory of the Indonesian real estate market. For years the action has focused on Jakarta, the largest city in Southeast Asia by landmass and population. Real estate dynamics around the new capital are just starting to take shape. Therefore, much remains unknown about the prospects for the site and the current capital Jakarta.

Land prices in and around the new capital site have increased about 25-fold since President Joko Widodo first announced plans for the relocation in 2019, according to the government in Sepaku district, East Kalimantan. The central government is yet to outline a plan for securing plots for development and for reining in land speculation. Private investors in palm oil plantations currently own much of the land in and around the new capital. The central government has allocated just IDR510 billion (USD35.6 million) for the first phase of construction. It announced plans to make up for the shortfall from the private sector, although few details have been confirmed. A law confirming the relocation was only passed by the Indonesian parliament in January 2022. East Kalimantan Governor Isran Noor said the United Arab Emirates, United Kingdom, Germany, China, South Korea, and Japan had all expressed interest in contributing overseas investment and expertise. But contractors are still to be confirmed for much of the site. Furthermore, many multinational real estate agents in Jakarta have relayed they have thus far received few inquiries from local and overseas investors seeking to become involved in the construction of Nusantara. “Almost no major domestic companies or developers have put in strong interest for



the proposed capital,” says Anton Sitorus, head of research and consultancy at Savills Indonesia in Jakarta. “It’s going to be a long process anyway, and I believe most [private sector property developers] don’t want to lose money for something that is still not certain.” Most inquiries from clients have focused on how the relocation to Nusantara would impact the real estate market in Jakarta, says Sindiani Surya Adinata, a director at Knight Frank Indonesia. “Only a limited number of our clients have asked about the capital relocation,” she says. After state offices empty, vacated buildings may create a short-term oversupply at the lower end of the office market, says Hendra Hartono, CEO of Leads Property, a real estate consultancy in Jakarta.



“They may compete with grade C commercial office buildings in Jakarta. And rental rates may be lower than grade C office buildings to attract tenants,” says Hartono, adding that the fiscally overstretched government would likely be keen to rent out old government buildings to obtain much-needed income. Nusantara is unlikely to attract a significant number of private sector companies, aside from those directly related to the city’s construction or government contracting, says Sitorus. He added that there were few signs of significant relocation impacts on Jakarta’s real estate sector and the economy. “The label of Jakarta as the capital city may change,” he says. “But it’s status as the financial capital and center of business and the economy will not.”


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Lockdown blues Melbourne has ceded its status as the world’s most liveable city to Auckland, and experts don’t see it regaining its crown anytime soon By Liam Aran Barnes


ometimes a predictable setback can hurt as much as a dramatic fall from grace.

Such is the case with Melbourne, the state capital of Victoria in Australia, whose treasured reputation as one of the world’s most desirable cities in which to live has suffered due to its rocky (to say the least) pandemic. When The Economist Intelligence Unit published its latest global liveability rankings in June 2021, it reflected what many people had been expecting.



Auckland, New Zealand’s booming capital, was named the world’s most livable city. Melbourne dropped to eighth spot after eight consecutive years at the top of the list, tied with Geneva in Switzerland and below rival Aussie cities Adelaide and Perth. Melbourne’s precipitous fall attracted headlines. But after a pandemic marked by rolling lockdowns—including a brutal fourmonth stint that was one of the world’s strictest—few analysts were surprised at the very public hit. Indeed, the ability to contain the spread of the pandemic while maintaining a high



quality of life and freedoms for residents was a key factor in Auckland’s ascendancy. “The progression for Auckland’s rank is predominantly because of New Zealand’s ability to enforce strong border closures and control the spread of the virus effectively,” says Akshay Rathi, a researcher at the Economist Intelligence Unit. Kiwi premier Jacinda Ardern’s “zero-Covid” strategy has attracted its share of criticism. But life in New Zealand has been allowed to continue largely as normal during the pandemic, albeit with periodical restrictions and some of the world’s tightest border controls. Contrastingly, the policies enacted by Victoria’s Labor state government led by Premier Daniel Andrews have been bitterly divisive. Melbourne was locked down six times for a total of 263 days. Victoria’s debt burden is anticipated to reach almost AUD200 billion by 2025 on the back of pandemicrelated relief and loss of revenue. With the state’s credit rating downgraded to the lowest of any Australian state or territory, the economic outlook for Victoria remains challenged at best. Some Victorians savage “Dictator Dan” for botching the hotel quarantine system that paved the way for a serious outbreak and the longest, most stringent lockdown. Others hail him as a leader willing to take tough decisions to quell the virus. What Melburnians of all stripes agree on is the

damage the last two years has inflicted upon both “Brand Melbourne” and the city’s real economy. “It would be remiss not to acknowledge that government handling of the pandemic was part of The Economist’s Intelligence Unit criteria for assessment in 2021,” says Rob Burgess, national director of research and strategy at property advisory experts Charter Keck Cramer. “Melbourne’s ability to rebuild its brand and perhaps, more importantly, the attributes which made it so desirable in the first place are highly unlikely in the next two to three years. Beyond that, only time will tell. The current trajectory must be halted to enable a new sense of optimism and confidence.” Observers agree that the pandemic has exacerbated Melbourne’s woes. But they say that cracks were apparent in the city’s finely honed façade before the global health crisis. Long-term challenges include housing unaffordability, increasing congestion, and an economy heavily reliant on population growth and deteriorating productivity. Melbourne is growing faster than most cities of similar size in developed countries. Population growth averaged more than 2.5% a year between 2011 and 2018. Activities and jobs have been buoyed by this strong growth. However, the downside has been increased demand for healthcare, education, and other essential and recreational services. It has also placed increasing stress on the city’s public services and transport system. These



factors have contributed to making one of the world’s most livable cities increasingly less habitable. Inequality, meanwhile, continues to plague the city’s housing market. Median house prices reached another record high, soaring to AUD1.1 million in the final three months of 2021 on the back of buyers rushing back to the market after the city’s sixth lockdown. Despite these challenges, Melbourne’s brand is far from completely tarnished. The city is famed for its outstanding arts scene, is home to several big-ticket sporting events, and has some of Australia’s finest restaurants. And population pressures have not altered the fact that the city retains high standards in healthcare and education as well as enviable infrastructure. Most observers agree that Melbourne’s long reign at the head of the global liveability index is over for at least the next couple of years. But they don’t necessarily buy into the notion that it has been superseded by its rival across the Tasman Sea.



“In my view, Melbourne has a better education system and sports and entertainment highlights than Auckland and job opportunities are better than in New Zealand,” says Benson Zhou, director of Asia markets for Savills Australia. “You can see that by how many Kiwis come over every year to live here. Lockdown is a big issue. But we are resilient and will bounce back.” Resilient too is Labor’s hold on power in Victoria. Despite the trials of the pandemic, polling ahead of the 2022 state elections— to be held in November—looks promising for the incumbent administration. With Australia adopting a strategy of living with the pandemic, harsh lockdowns may be a thing of the past. But Andrews and his government have a host of other issues to address as they bid to turn things around for the state and its biggest city. Burgess concludes: “Do I think the liveability index matters? No, what is now required is a genuine focus on the many day-to-day challenges faced by Melburnians. Awards are nice, but only direct actions that deliver substantive change will matter.”


1. Members of the judging panel get ready for the awards reception at Vertigo, Banyan Tree Kuala Lumpur 2. Ho Kong Soon holds court with the award-winning team of Matrix Concepts Holdings Berhad 3. Tropicana Corporation Berhad collects numerous statuettes, including Best Developer 4. Multiple trophies and citations for projects by Sime Darby Property 5. Ideal Property Group shows off its wins 6. A moment of triumph for OCR Group Berhad 7. The Binastra Land Sdn Bhd team pose with their accolades 8. Honours and commendations presented to Putrajaya Holdings Sdn Bhd


The 8th PropertyGuru Asia Property Awards (Malaysia), presented by Kohler, celebrated the achievements of the real estate sector in a virtual ceremony and presentation on 25 November 2021, followed by an exclusive reception for awardees on 30 November at the Banyan Tree Kuala Lumpur. For the second year in a row, the Best Developer award went to Tropicana Corporation Berhad. The company accumulated a total of six gold statuettes, including the title of Best Developer (Central Malaysia). Matrix Concepts Holdings Berhad was crowned Best Township Developer. Ho Kong Soon, the group’s managing director, accepted the 2021 Malaysia Real Estate Personality of the Year title. Other winners in the Developer categories were OCR Group Berhad (Best Lifestyle Developer) and Ideal Property Group (Best Affordable Homes Developer).


CHAIRPERSON Prem Kumar Deputy Managing Director, Jones Lang Wootton Blaine Robert CEO/Creative Director, Blaine Robert Design Chris Tia Principal and Managing Partner, Tia & Noordin Dr. Daniele Gambero CEO & Propenomist, REI Group of Companies Sr. Engad Ravana Principal, ER Consult Sr LOW Han Hoe Senior Manager, Investment & Agency, Nawawi Tie Leung Real Estate Consultants Sdn Bhd Ar. Mustapha Kamal Zulkarnain Founder and Principal, Arkitek Mustapha Kamal Datuk Ar Hj Saiful Anuar Abdul Aziz Principal, Anuar Aziz Architect; a member of Arte Axis Design Group Tan Hui Yin Partner, Tan Chap & Associates Ir. Dr. Zulhkiple A Bakar Managing Director, Perunding ZAB Sdn Bhd










the winners DEVELOPER AWARDS • Best Developer Winner: Tropicana Corporation Berhad • Best Developer (Central Malaysia) Winner: Tropicana Corporation Berhad Highly Commended: Putrajaya Holdings Sdn Bhd • Best Township Developer Winner: Matrix Concepts Holdings Berhad • Best Lifestyle Developer Winner: OCR Group Berhad Highly Commended: Binastra Land Sdn Bhd • Best Affordable Homes Developer Winner: Ideal Property Group DEVELOPMENT AWARDS • Best High End Condo/Apartment Development (Central) Winner: Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd Highly Commended: Grand Ion Majestic by NCT Alliance Berhad • Best Mid End Condo/Apartment Development (Central) Winner: Cantara Residences by Sime Darby Property (Ara Damansara) Sdn Bhd Highly Commended: • AraTre’ Residences @ Ara Damansara by Puncakdana Sdn Bhd • Aura Residence by Putrajaya Holdings Sdn Bhd • One Cochrane Residences by Boustead Properties Berhad • Tropicana Metropark – SouthPlace Residences by Tropicana Corporation Berhad • Best Mass Market Condo/Apartment Development (Central) Winner: M Luna by Mah Sing Group Berhad • Best Mass Market Condo/Apartment Development (Northern) Winner: Havana Beach Residences by Ideal Property Group • Best Leisure Condo/Apartment Development Winner: Ion Forte Green City by NCT Group of Companies • Best High End Landed Development Winner: Tropicana Aman – Freesia Residences by Tropicana Corporation Berhad • Best Landed Development (Central) Winner: Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd. Highly Commended: • 118 Residence @ Kinrara by 162

Mahajaya Berhad • Mutiara Hills by Boustead Properties Berhad • Best Mega Township Development Winner: Mutiara Rini Skudai by Boustead Properties Berhad Highly Commended: • Bandar Sri Sendayan by Matrix Concepts Holdings Berhad • Taman Impian Emas, Johor Bahru by Gunung Impian Development Sdn Bhd • Best Mixed Use Development Winner: Terra by Putrajaya Holdings Sdn Bhd • Best Industrial Development Winner: The Detached Factories by Sime Darby Property (Bukit Raja) Sdn. Bhd. • Best Retail Development Winner: KCC City Business Park, Muar by KCC Realty Highly Commended: Tropicana Metropark – SouthPlace Shoppes by Tropicana Corporation Berhad DESIGN AWARDS • Best Condo/Apartment Architectural Design Winner: AraTre’ Residences @ Ara Damansara by Puncakdana Sdn Bhd Highly Commended: Trion 2 @ KL by Binastra • Best Club House Design Winner: Aurora Resort Villas by Country View Berhad • Best Landscape Architectural Design Winner: Agile Mont Kiara by Agile Real Estate Development Sdn Bhd BEST OF MALAYSIA AWARDS • Best Condo/Apartment Development (Malaysia) Winner: Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd • Best Housing/Landed Development (Malaysia) Winner: Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd. SPECIAL AWARDS • Special Recognition in ESG Winners: • Matrix Concepts Holdings Berhad • Tropicana Corporation Berhad • Special Recognition for CSR Winners: • Matrix Concepts Holdings Berhad • OCR Group Berhad

• Tropicana Corporation Berhad • Special Recognition in Sustainable Design and Construction Winners: • Binastra Land Sdn Bhd • Ideal Property Group • Matrix Concepts Holdings Berhad • Putrajaya Holdings Sdn Bhd • Tropicana Corporation Berhad PUBLISHER’S CHOICE • Malaysia Real Estate Personality of the Year Winner: Ho Kong Soon, Group Managing Director, Matrix Concepts Holdings Berhad

WITH THANKS TO: • Platinum sponsor Kohler • Official portal partner • Official cable TV partner History Channel • Official magazine PropertyGuru Property Report • Official PR partner Klareco Communications • Media partners, Malaysian Business, Penang Property Talk, and The Grid Asia • Official charity partner Right To Play • Official ESG partner Baan Dek Foundation • Supporting association Asia MarTech Society • Official supervisor HLB






TELEPHONE: +86 075583416061 BUSINESS LINE: +86 075583400071 MEDIA LINE: +86 075586569500 E-MAIL: JAID@JAID.CN



1. Le Van Kiem adds Real Estate Personality of the Year to his many titles 2. The sought-after Best Developer statuette is presented to Keppel Land 3. Best Luxury Developer winner SonKim Land Corporation takes the stage 4. Hung Thinh Land Joint Stock Company receives the Best Mixed Use Developer statuette 5. Guests congratulate Gamuda Land (HCMC) JSC. on Best Lifestyle Developer win 6. The CapitaLand Development (Vietnam) team collect Best Sustainable Developer and other awards 7. The victorious team of Best Boutique Developer titleholder National Housing Organization, JSC 8. Presenting the Best Breakthrough Developer trophy to Danh Khoi Group Joint Stock Company


Around 71 winners were revealed on 26 November 2021 at the 7th Annual PropertyGuru Vietnam Property Awards programme, presented by Kohler and supported by Häfele, Dulux Professional by AkzoNobel Paints Vietnam, and Saint-Gobain Vietnam. Keppel Land vaulted to the top, winning Best Developer, while the never-before-presented title of Best Luxury Developer went to SonKim Land Corporation. Gamuda Land (HCMC) JSC. was named Best Lifestyle Developer while CapitaLand Development (Vietnam) was awarded Best Sustainable Developer. The Best Mixed Use Developer title went to Hung Thinh Land Joint Stock Company. Danh Khoi Group Joint Stock Company was hailed Best Breakthrough Developer. Meanwhile, National Housing Organization, JSC clinched the Best Boutique Developer title. Le Van Kiem, founder and chairman of KN Group, became the newest Vietnam Real Estate Personality of the Year.


CHAIRPERSON Thien Duong Managing Director, Transform Architecture Alex Crane Managing Director, Vietnam, Knight Frank Chau Ta Executive Director Legal Transactions, SC Capital Partners Pte Ltd. David McDonald General Director, WT Partnership (Vietnam) LLC Duc Truong CEO, OJS Investment & Consulting Ltd., Chairman, Edison Academy Vietnam Ltd. Edward Haysom General Director, HAYSOM Architects Vietnam Hang Dang Managing Director, CBRE (Vietnam) Co, Ltd. Jean-Francois Chevance Group Director of Hospitality and Design, Archetype Group Mauro Gasparotti Director, Savills Hotels APAC Paul D. Volodarsky Senior Associate, Deputy Head of Regional Real Estate, DFDL Legal and Tax










the winners DEVELOPER AWARDS • Best Developer Winner: Keppel Land • Best Luxury Developer Winner: SonKim Land Corporation • Best Mixed Use Developer Winner: Hung Thinh Land Joint Stock Company • Best Lifestyle Developer Winner: Gamuda Land (HCMC) JSC. • Best Sustainable Developer Winner: CapitaLand Development (Vietnam) • Best Boutique Developer Winner: National Housing Organization, JSC Highly Commended: Gotec Land • Best Breakthrough Developer Winner: Danh Khoi Group Joint Stock Company DEVELOPMENT AWARDS • Best Ultra Luxury Condo Development (HCMC) Winner: Grand Marina, Saigon by Masterise Homes Highly Commended: The Opera Residence (The third phase of the Metropole Thu Thiem) by SonKim Land Corporation • Best Luxury Condo Development (HCMC) Winner: Define by CapitaLand – Thien Duc Co. Ltd • Best High End Condo Development (HCMC) Winner: King Crown Infinity by BCG Land Highly Commended: • Masteri Centre Point by Masterise Homes • Promena by National Housing Organization, JSC • Best Mid End Condo Development (HCMC) Winner: Celesta Rise by Keppel Land Vietnam & Phu Long Real Estate Corporation Highly Commended: Asiana Riverside by Gotec Land • Special Recognition for Landmark Development Winner: Grand Marina, Saigon by Masterise Homes • Best Ultra Luxury Condo Development (Hanoi) Winner: The Grand Hanoi by Masterise Homes


• Best Luxury Condo Development (Hanoi) Winner: Heritage West Lake by CapitaLand – Hien Duc JSC Highly Commended: Five Star West Lake by GFS GROUP • Best High End Condo Development (Hanoi) Winner: Masteri West Heights by Masterise Homes • Best Condo Development (Binh Duong) Winner: Happy One Central by Van Xuan Group Highly Commended: • Astral City by Phat Dat Real Estate Development Corporation • Midori Park The Glory by Becamex Tokyu Co., Ltd • Best Condo Development (Danang) Winner: The Filmore Da Nang by Filmore Development • Best Residential Development (Southern Vietnam) Winner: Stella Icon by Kita Group Joint Stock Company • Best Residential Development (Quy Nhơn) Winner: Takashi Ocean Suite Ky Co by Danh Khoi Holdings Investment Joint Stock Company • Best Luxury Housing Development (HCMC) Winner: The Glen by Gamuda Land (HCMC) JSC. • Best Housing Development (HCMC) Winner: The Classia by Khang Dien House Trading and Investment JSC • Best Township Development Winner: Tokyu Garden City by Becamex Tokyu Co., Ltd • Best Industrial Development Winner: Binh Duong Industrial Park by Frasers Property Vietnam • Best High Rise Office Development Winner: Thanh Cong Tower by TCG Land – a member of Thanh Cong Group • Best Low Rise Office Development   Winner: OfficeHaus by OFH Company Limited • Best Smart Building Development Winner: TechnoPark Tower by Vinhomes Joint Stock Company • Best Wellness Lifestyle Development Winner: Vinhomes Ocean Park by Vinhomes Joint Stock Company • Best Mega Green Development Winner: KN Paradise Cam Ranh by KN Cam Ranh Company Limited

• Best Hospitality Green Development Winner: InterContinental Halong Bay Resort & Residences by BIM Land (a member of BIM Group) • Best Commercial Green Development Winner: TechnoPark Tower by Vinhomes Joint Stock Company DESIGN AWARDS • Best Ultra Luxury Condo Architectural Design Winner: The Opera Residence (The third phase of the Metropole Thu Thiem) by SonKim Land Corporation Highly Commended: Grand Marina, Saigon by Masterise Homes • Best Luxury Condo Architectural Design Winner: The Filmore Da Nang by Filmore Development • Best High End Condo Architectural Design Winner: Promena by National Housing Organization, JSC • Best Coastal Condo Architectural Design Winner: The Aston Luxury Residence by Danh Khoi Holdings Investment Joint Stock Company • Best Condo Architectural Design Winner: Icon 40 by BIM Land (a member of BIM Group) Highly Commended: • Astral City by Phat Dat Real Estate Development Corporation • Central Residence by Gamuda Land Vietnam LLC • Takashi Ocean Suite Ky Co by Danh Khoi Holdings Investment Joint Stock Company • Best Resort Architectural Design Winner: Casa Marina Premium by BCG Land Highly Commended: Sailing Club Signature Resort Ha Long Bay by BIM Land (a member of BIM Group) • Best Coastal Housing Architectural Design Winner: Cam Ranh Mystery Villas by Cam Ranh Mystery Joint Stock Company • Best Housing Architectural Design Winner: The Classia by Khang Dien House Trading and Investment JSC • Best Ultra Luxury Condo Interior Design Winner: The Grand Hanoi by Masterise Homes Highly Commended: The Opera Residence (The third phase of the Metropole Thu Thiem) by SonKim Land Corporation

• Best Luxury Condo Interior Design Winner: Zenity by CapitaLand Development (Vietnam) • Best Resort Interior Design Winner: Park Hyatt Phu Quoc Residences by BIM Land (a member of BIM Group) • Best Ultra Luxury Condo Landscape Architectural Design Winner: Grand Marina, Saigon by Masterise Homes Highly Commended: The Opera Residence (The third phase of the Metropole Thu Thiem) by SonKim Land Corporation • Best High End Condo Landscape Architectural Design Winner: The Peak by Phu My Hung Development Corporation • Best Condo Landscape Architectural Design Winner: Astral City by Phat Dat Real Estate Development Corporation • Best Housing Landscape Architectural Design Winner: Casamia Balanca Hoi An by Dat Phuong Joint Stock Company • Best Township Masterplan Design Winner: TNR Stars Bỉm Sơn by TNR Holdings Vietnam • Best Mixed Use Architectural Design Winner: Masteri Waterfront by Masterise Homes Highly Commended: Phu My Hung Midtown by Phu My Hung Development Corporation • Best Office Architectural Design Winner: Thanh Cong Tower by TCG Land – a member of Thanh Cong Group BEST OF VIETNAM AWARDS • Best High Rise Condo Development (Vietnam) Winner: Define by CapitaLand – Thien Duc Co. Ltd • Best Low Rise Condo Development (Vietnam) Winner: The Grand Hanoi by Masterise Homes • Best Housing Development (Vietnam) Winner: The Glen by Gamuda Land (HCMC) JSC.

SPECIAL AWARDS Special Recognition in ESG    Winners: • Keppel Land • Phat Dat Real Estate Development Corporation • SonKim Land Corporation • Special Recognition for CSR Winners: • Becamex Tokyu Co., Ltd • BIM Land (a member of BIM Group) • Danh Khoi Group Joint Stock Company • Gotec Land • National Housing Organization, JSC • Phat Dat Real Estate Development Corporation • Special Recognition for Building Communities Winners: • CapitaLand Development (Vietnam) • Gamuda Land (HCMC) JSC. • Hung Thinh Land Joint Stock Company • Keppel Land • Phu My Hung Development Corporation • Special Recognition in Sustainable Design and Construction Winners: • CapitaLand Development (Vietnam) • Gamuda Land (HCMC) JSC. • Keppel Land • Masterise Homes • Phu My Hung Development Corporation PUBLISHER’S CHOICE Vietnam Real Estate Personality of the Year Winners: Le Van Kiem, Founder and Chairman, KN Group

WITH THANKS TO: • Platinum sponsor Kohler • Gold sponsor Häfele • Silver sponsor Dulux Professional by AkzoNobel Paints Vietnam • Silver sponsor Saint-Gobain Vietnam • Official portal partner • Local partner Oriental Media Vietnam • Official cable TV partner History Channel • Official magazine PropertyGuru Property Report • Official PR partner T&H Communications • Media partners Deluxe Magazine, Oi Vietnam, Vietnam Heritage, and Vietnam News • Official charity partner Right To Play • Official ESG partner Baan Dek Foundation • Supporting association Asia MarTech Society • Official supervisor HLB


1. Sinar Mas Land accepts the statuette for Best Developer 2. The Farpoint team come out in full force for the hybrid gala 3. Agung Sedayu Group’s Sugianto Kusuma after accepting the Real Estate Personality of the Year award 4. PT Intiland Development Tbk’s Hendro S. Gondokusumo poses for the Wall of Fame 5. Ishak Chandra joins the virtual gala for Triniti Land 6. A triumphant Jeffri Tanudjaja of PT Metropolitan Kentjana Tbk 7. Rizkan Firman receiving his company’s Best Breakthrough Developer award 8. Wibowo Muljono is all smiles after PT Astra Land Indonesia’s wins


The seventh annual edition of the PropertyGuru Indonesia Property Awards, presented by Kohler, announced its honourees on 30 November 2021 at The Ritz-Carlton Jakarta, Pacific Place. Around 52 winners received gold statuettes and certificates at the inaugural hybrid gala celebration. Sinar Mas Land won six awards including Best Developer, a coveted title it has won for the second consecutive year. The year’s Best Boutique Developer, Farpoint, also won six awards. Agung Sedayu Group was named Best Commercial Developer, with chairman Sugianto Kusuma receiving the 2021 Indonesia Real Estate Personality of the Year award. PT Metropolitan Kentjana Tbk won four awards, including Best Mixed Use Developer. PT Intiland Development Tbk, crowned Best Sustainable Developer, won four awards as well. Triniti Land was given the Best Innovative Developer title. Other winners in the Developer categories were Astra Land Indonesia (Best Lifestyle Developer) and PT Adhi Commuter Properti (Best Breakthrough Developer).


CHAIRPERSON Doddy A. Tjahjadi Managing Director, PTI Architects Bagus Adikusumo Senior Director | Office Services, PT. Colliers International Indonesia Bernardus Djonoputro Executive Director Strategy And Transactions - Ernst & Young Cornel B. Juniarto

Senior Partner, Hermawan Juniarto & Partners (Member of Deloitte Legal Network) Djinadi Gunawan

Managing Director, PT Meinhardt Indonesia Gavin Cox

Director, WT Partnership Hendra Hartono

CEO, PT. Leads Property Services Indonesia Ian Reynolds

Managing Director, Reynolds Partnership PT. Lina Gan

Founder and Editor-in-Chief, Indonesia Design M. Archica Danisworo

Co Founder and Design Director of PDW Architects Vivin Harsanto

Senior Director/Head of Advisory, JLL Indonesia










the winners DEVELOPER AWARDS • Best Developer Winner: Sinar Mas Land • Best Commercial Developer Winner: Agung Sedayu Group • Best Mixed Use Developer Winner: PT Metropolitan Kentjana Tbk • Best Lifestyle Developer Winner: Astra Land Indonesia • Best Innovative Developer Winner: Triniti Land • Best Sustainable Developer Winner: PT Intiland Development Tbk Highly Commended: PT AKR Land Development • Best Boutique Developer Winner: Farpoint • Best Breakthrough Developer Winner: PT Adhi Commuter Properti Highly Commended: PT Puri Global Sukses Tbk DEVELOPMENT AWARDS • Best Luxury Condo Development (Jakarta) Winner: Verde Two by Farpoint • Best Mid End Condo Development (Jakarta) Highly Commended: Bellevue Place @MT Haryono by Gapura Prima Group • Best High End Condo Development (Greater Jakarta) Winner: Upper West @ BSD City by Sinar Mas Land and Dwijaya Karya • Best Affordable Condo Development (Greater Jakarta) Winner: Tokyo Riverside Apartment at PIK2 by Agung Sedayu Group & Salim Group • Best Affordable Condo Development (Greater Indonesia) Winner: The Monde City by PT Puri Global Sukses Tbk • Best Housing Development (Jakarta) Winner: Sentarum at Asya by PT Astra Modern Land • Best High End Housing Development (Greater Jakarta) Winner: The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty Highly Commended: The Zora – Kiyomi by PT BSD Diamond Development • Best Mid End Housing Development (Greater Jakarta) Winner: Duo by PT Intiland Development Tbk


Highly Commended: Samira Regency Bekasi by PT Triyasa Propertindo • Best Townhouse Development (Greater Jakarta) Winner: Providence House by Easton Urban Kapital • Best Millennial Housing Development (Greater Jakarta) Winner: Sentosa Park by PT. Yiho Jakarta Real Estate Development • Best Affordable Housing Development (Greater Jakarta) Winner: Samanea Hill by Farpoint Highly Commended: Citaville Pilar Cikarang by Greenwoods Group • Best Low Cost Housing Development (Greater Jakarta) Winner: Mustika Village Sukamulya by Mustika Land • Best Housing Development (Greater Indonesia) Winner: Grahayana by Citanusa Group Highly Commended: Seion Serang by Masgroup • Best Low Cost Housing Development (Greater Indonesia) Winner: Mustika Village Karawang by Mustika Land • Best Township Development Winner: Jababeka Residence by PT Jababeka Tbk Highly Commended: AKR Grand Estate Marina City by PT AKR Surabaya Land Corporindo • Best Mixed Use Development Winner: Southgate Residence at TB Simatupang Area by Sinar Mas Land • Best Industrial Estate Development Winner: GIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation • Best Resort Hotel Development Winner: The Botanica Sanctuary by Agung Sedayu Group • Best Serviced Apartment Development Winner: InterContinental Hotel & Residences Jakarta Pondok Indah by PT Metropolitan Kentjana Tbk • Best Retail Development Winner: Pondok Indah Mall 3 by PT Metropolitan Kentjana Tbk • Best Mid Rise Office Development Winner: Telkom Landmark Tower Surabaya by Telkom Property • Best Green Development Winner: BSD City by Sinar Mas Land

DESIGN AWARDS • Best Township Masterplan Design Winner: Paramount Petals by Paramount Land • Best Office Architectural Design Winner: SMI Tower by Simbiotik Multitalenta Indonesia • Best Retail Architectural Design Winner: Bintaro Jaya Xchange by Lead8 • Best Boutique Retail Architectural Design Winner: Central Market PIK by Agung Sedayu Group & Salim Group • Best Condo Architectural Design Winner: Paul & Prive by Triniti Land Highly Commended: Bellevue Place @MT Haryono by Gapura Prima Group • Best Residential District Architectural Design Winner: Marc’s Boulevard by Triniti Land • Best Housing Architectural Design Winner: The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty Highly Commended: Glenn the Hive by Triniti Land • Best Compact Housing Architectural Design Winner: Damara Village Ubud Alaya Collection by Greenwoods Group Highly Commended: • Samanea Hill by Farpoint • Samira Regency Bekasi by PT Triyasa Propertindo • Best Mid End Condo Interior Design Winner: Bellevue Place @MT Haryono by Gapura Prima Group • Best Condo Landscape Architectural Design Winner: Verde Two by Farpoint • Best Housing Landscape Architectural Design Winner: Toba Lake Villas at Asya by PT Astra Modern Land BEST OF INDONESIA AWARDS • Best Condo Development (Indonesia) Winner: Verde Two by Farpoint • Best Housing Development (Indonesia) Winner: The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

SPECIAL AWARDS • Special Recognition in ESG Winners: • PT AKR Land Development • PT Intiland Development Tbk • Special Recognition in Sustainable Design and Construction Winners: • Astra Land Indonesia • Farpoint • PT Intiland Development Tbk • PT Metropolitan Kentjana Tbk • Sinar Mas Land • Special Recognition for Innovative Banking Industry Development Winner: PT Bank Tabungan Negara (Persero) Tbk. • Special Recognition in Real Estate Initiatives

Winner: Real Estate Indonesia PUBLISHER’S CHOICE Indonesia Real Estate Personality of the Year Winner: Sugianto Kusuma, Chairman, Agung Sedayu Group

WITH THANKS TO: • Platinum sponsor Kohler • Official portal partner • Official cable TV partner History Channel • Official magazine PropertyGuru Property Report • Official PR partner Dreamhub Consultancy • Official charity partner Right To Play • Official ESG partner Baan Dek Foundation • Supporting association Asia MarTech Society • Official supervisor HLB


1. The programme’s organisers and judges prepare for the awards reception at the Pimarn Siam Hall of The Athenee Hotel 2. Kamonwan Prasitwuttivech of Sansiri Public Company Limited accepts the Best Developer award 3. A jubilant Navin Leknawa of Britania Public Company Limited 4. Utopia Corporation Co., Ltd.’s Hachi Yin accepts the Best Developer (Phuket) award 5. Habitat Group Co., Ltd.’s Chanin Vanijwongse and wife arrive 6. Pattana Property Development accepts an award from JLL Thailand’s Michael Glancy 7. Kaj Miyake of gold sponsor IHI joins the reception dinner 8. Huddling for the yearly class pictorial


The 16th Annual PropertyGuru Thailand Property Awards, supported by IHI, JLL, Mitsubishi Electric Kang Yong Watana, and Bathic, were held 3 December 2021 as a virtual gala broadcast presentation. Awardees represented cities and regional markets as diverse as Bangkok, Chiangmai, the Eastern Seaboard, Hua Hin, Phuket, Samui, and the Thai upcountry. Sansiri Public Company Limited won the ultimate accolade of Best Developer, a title it had previously won in 2013. The newest edition of the awards programme also honoured outstanding real estate companies in resort destinations with the all-new Best Developer (Eastern Seaboard) award, presented to Maneerin Property, and Best Developer (Phuket) award, presented to Utopia Corporation Co., Ltd. Habitat Group Co., Ltd. was named Best Boutique Developer, with Habitat Hospitality Co., Ltd. collecting the title of Best Hospitality Developer. Lamphun Tangnoi of Andaman Asset Solution Co., Ltd. earned the title of Best Breakthrough Developer.


CHAIRPERSON Suphin Mechuchep Chairperson, JLL Thailand Chaivut Saengaram Ph.D. Chief Operating Officer, Chuchawal - Royal Haskoning Ltd. Chaiyuth Pete Thirangoon Director, Akatan Company Limited Leong Choong Peng Director, Australian Institute of Quantity Surveyors. Marciano Birjmohun Director, The Singapore-Thai Chambers of Commerce Dr. Phongthon Tharachai CEO, Project Planning Service Public Company Limited Precha Suphapetiporn President, Thai Real Estate Sales and Marketing Association Sasivimol Sinthawanarong Design Principal, JARKEN Co.,Ltd. Professor Sonthya Vanichvatana, Ph.D Chairperson, the Department of Real Estate, MRICS, Associate Architect, MSME School of Management and Economics, Assumption University Tawatchai Kobkaikit Managing Director, TK Studio










the winners DEVELOPER AWARDS • Best Developer Winner: Sansiri Public Company Limited • Best Developer (Phuket) Winner: Utopia Corporation Co., Ltd. • Best Developer (Eastern Seaboard) Winner: Maneerin Property • Best Hospitality Developer Winner: Habitat Hospitality Co., Ltd. • Best Boutique Developer Winner: Habitat Group Co., Ltd. Highly Commended: • Britloftgroup • Eakphoomsub Development Company Limited • Lucky Living Properties Co., Ltd. • Best Breakthrough Developer Winner: Andaman Asset Solution Co., Ltd. DEVELOPMENT AWARDS • Best Ultra Luxury Condo Development (Bangkok) Winner: The Residences at Sindhorn Kempinski Hotel Bangkok by Siam Sindhorn Co., Ltd. • Best Luxury Condo Development (Bangkok) Winner: Celes Asoke by Lucky Living Properties Co., Ltd. Highly Commended: The Crest Park Residences by SC Asset Corporation Plc • Best Mid End Condo Development (Bangkok) Winner: Holme Ekkamai 22 by S A Future Property Company Limited • Best Affordable Condo Development (Bangkok) Winner: Kave TU by Assetwise Public Company Limited • Best Condo Development (Chiangmai) Winner: The Spring Loft by NTS Property Co., Ltd. and Srisiri STT Group Co., Ltd. • Best Housing Development (Bangkok) Winner: Grand Britania Wongwaen Ramintra by Britania Public Company Limited • Best Townhome Development (Bangkok) Winner: Reseo Home (Ramintra-Jatuchot) by Revo Property • Best Housing Development (Hua Hin) Winner: Luxury Home by The Bibury Property Co. Ltd • Best Housing Development (Samui) Winner: Istani Villas by Idea Development


• Best Mixed Use Development Winner: Sindhorn Village by Siam Sindhorn Co., Ltd. • Best Hotel Development Winner: Kimpton Kitalay Samui by Choengmon Real Estate Company Limited • Best Wellness Lifestyle Development Winner: Prompt88 Health Land by Pattana Property Development • Best Office Development Highly Commended: Lumpini Tower Vibhavadi by L.P.N. Development Public Co., Ltd. • Best Smart Building Development      Winner: Celes Asoke by Lucky Living Properties Co., Ltd. Highly Commended: Prompt88 by Pattana Property Development DESIGN AWARDS • Best Luxury Condo Architectural Design Winner: Celes Asoke by Lucky Living Properties Co., Ltd. Highly Commended: The Crest Park Residences by SC Asset Corporation Plc • Best Condo Architectural Design Winner: Holme Ekkamai 22 by S A Future Property Company Limited Highly Commended: • Salaya One by Menam Development Co., Ltd • The Hampton Suites Rayong by Origin Property Public Company Limited • Best Housing Architectural Design (Bangkok) Winner: The Glamor Ekkamai – Praditmanutham by Peace and Living Public Company Limited Highly Commended: Eigen Premium Townhome Pattanakarn by Revo Development • Best Housing Architectural Design (Upcountry) Winner: Asongkhai by Ametus Development Co., Ltd. • Best Multi Housing Architectural Design (Upcountry) Winner: Istani Villas by Idea Development Highly Commended: Maneerin Park (Khaolam) by Maneerin Property • Best Club Facilities Design Highly Commended: The Victory by Andaman Asset Solution Co., Ltd.

• Best Luxury Condo Interior Design Winner: Celes Asoke by Lucky Living Properties Co., Ltd. Highly Commended: The Crest Park Residences by SC Asset Corporation Plc • Best Housing Interior Design Winner: Maison Blanche – Sukhumvit 67 by Baan Sasidara Co.,Ltd. • Best Office Interior Design Highly Commended: Concentrix Thailand Office by & Decorative House Co., Ltd. • Best Condo Landscape Architectural Design Winner: Oneder Kaset Condo by Eakphoomsub Development Company Limited Highly Commended: Celes Asoke by Lucky Living Properties Co., Ltd. • Best Townhome Landscape Architectural Design Highly Commended: Reseo Home (Ramintra-Jatuchot) by Revo Property • Best Commercial Landscape Architectural Design Winner: Government Center: Sustainable Landscape Master Planning by Dhanarak Asset Development Co., Ltd. BEST OF THAILAND AWARDS • Best Condo Development (Thailand) Winner: The Residences at Sindhorn Kempinski Hotel Bangkok by Siam Sindhorn Co., Ltd. • Best Housing Development (Thailand) Winner: Istani Villas by Idea Development SPECIAL AWARDS • Special Recognition in ESG Winner: Maneerin Property • Special Recognition in Sustainable Design and Construction Winners: • Habitat Group Co., Ltd. • Maneerin Property PUBLISHER’S CHOICE Thailand Real Estate Personality of the Year Winner: Anuphong Assavabhokhin, Vice Chairman and Chief Executive Officer, AP (Thailand) Public Company Limited

WITH THANKS TO: • Gold sponsor IHI • Gold sponsor JLL • Gold sponsor Mitsubishi Electric Kang Yong Watana • Bronze sponsor Bathic • Official portal partner • Official cable TV partner History Channel • Official magazine PropertyGuru Property Report • Official supplier GFour Wines and Spirits

• Official PR partner Infinity Communications • Media partners Discover Pattaya, Hot Magazine, Locanation, Luxury Society Asia, Pattaya Trader, and REm Thailand • Official charity partner Right To Play • Official ESG partner Baan Dek Foundation • Supporting associations Asia MarTech Society, Green Building Consulting & Engineering, and British Chamber of Commerce Thailand • Official supervisor HLB




Thu Duc, Ho Chi Minh City Promena is a condominium project at the entrance of the Thu Duc Golf & Country Club in Ho Chi Minh City. Envisaged as a haven away from the hustle and bustle of the city, Promena is nestled on the side of a verdant 300-hectare golf course along No. 2 Street in Long Thanh My Ward. Promena is conceived as a development that brings nature inside. Every indoor area in the golf community maximises window spaces and encourages natural airflow, creating a harmonious coexistence between people and the natural environment. The design team, led by ADU Architecture & Design, incorporated the arch throughout property’s architecture. As a key architectural element of the project, the arch conveys timelessness, connectivity, beauty, strength, and longevity, as well as the developer’s respect for nature. The project features a clubhouse with a large deck. Residents have access to a 275-sqm restaurant and 135-


sqm community room, among many other facilities. They can also bask in the jacuzzi, lap pool, and family pool, or just admire the water features. Children can enjoy the kids’ pool and playground while fitness enthusiasts can access the 77-sqm gym, 100-sqm outdoor exercise zone, and 100-sqm multipurpose court, plus a dedicated tennis court.






Promena by National Housing Organization, JSC

Promena by National Housing Organization, JSC.

Promena by National Housing Organization, JSC.

Developer: National Housing Organization, JSC. Product type: Condominium Architect: ADU Architecture & Design Launch date: Dec 2022 Completion date: Q2 2024 Total land area: 8,605 sqm Number of units: 80 Average unit size: 143.45 sqm Facilities: Restaurant, outdoor café, gym, clubhouse, community room, kids’ pool, jacuzzi, family pool, lap pool, shade pavilion, playground, outdoor exercise zone, sports courts, tennis court Price range: USD490,000-748,000



AraTre’ Residences Ara Damansara, Malaysia The three residential towers comprising the development are the tallest in the township of Ara Damansara in Petaling Jaya. Just a walking distance from the Ara Damansara LRT Station, the residences are in built-up sizes ranging from 775 sq ft for a two-bedroom unit to 1,227 sq ft for a threebedroom unit. Laid out in the shape of a three, the buildings are designed to maximise shade and ventilation. The project emanates a resort-like aura with an extensive range of lifestyle and fitness amenities on the Level 8 podium as well as the Rooftop Garden, which looks out to panoramic vistas of Ara Damansara. More than 40 facilities will be available to residents upon the project’s impending completion. They include the Rooftop Skybox, Infinity Lap Pool, Zen Garden, Aqua Lounge, Celebrity Kitchen, and Grand Lobby.


As part of a bustling township, AraTre’ Residences is within proximity to myriad urban amenities, including schools and colleges, medical centres, shopping and leisure hubs, golf courses, and F&B spots, among many others. AraTre’ Residences is easily accessible from the Petaling Jaya CBD via major thoroughfares Jalan Lapangan Terbang Subang, NKVE, LDP, and Federal Highway.





AraTre' Residences @ Ara Damansara by Puncakdana Sdn. Bhd.

AraTre' Residences @ Ara Damansara by Puncakdana Sdn. Bhd.


AraTre' Residences @ Ara Damansara by Puncakdana Sdn. Bhd.

Developer: Puncakdana Sdn Bhd Product type: Serviced apartments Architect: Cipta Teguh Architects Sdn Bhd Launch date: May 2018 Completion date: Mid-2022 (target) Total land area: 2.67 acres Number of units: 727 Average unit size: 797 sq ft (two-bedroom), 1,173 sq ft (three-bedroom) Facilities: Infinity Pool, Kids’ Splash Pool, Indoor and Outdoor Gyms, Multipurpose Hall, Sky Lounge, Zen Garden, Cardio Trail, Male and Female Surau, Playground, Mini-market Space, Launderette, and more Monthly maintenance fees: MYR0.30 per sq ft Price range: MYR496,000-930,000 Sales contact details: Tel: +603-7831 7891, +6018-2828 001 Email: Address: D-1-G, Block D1, Dana 1 Commercial Centre, Jalan PJU 1A/46, Ara Damansara, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia



HERITAGE WEST LAKE Tay Ho District, Hanoi This high-end project is a complex of residential, office, and officetel towers above Lac Long Quan Street in Hanoi. Themed after West Lake in the city’s Tay Ho District and the nearby Red River, the design of the project pays tribute to legends surrounding the bodies of water. The project boasts more than 40 exclusive facilities for residents, with sky pools that include the first heated rooftop swimming pool in Hanoi. Adults can congregate at a sky party deck and the wine and cigar bar while children can frolic at Kidz Amaze, a spacious indoor playground. The buildings are strategically dispersed to optimise privacy and maximise the water views. This creates a large open central court onsite, leaving room for a garden maze, a miniature version of West Lake, and vertical gardens.


With their golden elements and random patterns, the building facades are designed to evoke mythical waterfalls and the waves of West Lake. The likeness of legendary creatures even populate landscaped areas and entrances. The project’s 173 residential units have large loggia to optimise views. All apartments are fitted with exceptional interiors, fixtures, fittings and finishes from world-renowned brands like GESSI, Villeroy & Boch, Poggenpohl, and Gaggenau. Units also offer private lift lobbies and 1:1 car park provision.


HERITAGE WEST LAKE by CapitaLand – Hien Duc JSC


Developer: CapitaLand Development (Vietnam) in collaboration with Hien Duc Group Product type: High-end mixed-use development Architect: DP Architects Pte Ltd Completion date: Q3 2024 Total land area: 8,970 sqm Number of units: 173 (residential tower), 202 (officetel), 28 (shop offices) Average unit size: 131 sqm (residential tower), 62 sqm (officetel), 1,100-1,200 sqm (shop offices) Facilities: Cave pool, infinity cloud pool, jacuzzi, wine and cigar bar, maze garden, treehouse, indoor playground, private lift lobbies, and more Monthly maintenance fees: Equivalent to 2% of apartment selling price before VAT Average unit price: USD700,000 (USD5,500) Sales contact details: Tel: 0916161588 Email: Address: Lot D7 Lac Long Quan Street, Phu Thuong Ward, Tay Ho Dist, Hanoi, Vietnam 181



Thu Duc City, Ho Chi Minh City DEFINE is a prime development within Thu Duc City in HCMC. From its enviable location along 60-TML Street, the project affords residents with great views of Saigon River and excellent connectivity to the CBD. It also offers easy access to well-known educational institutions; a variety of retail options; and reliable hospitals and clinics. DEFINE is reputed for 50 luxurious facilities, including a rare supercar garage and the first automated smart car parking system of any residential development in Vietnam. The development holds a total of 45 swimming pools, the most number of any residential project in HCMC. It also features a private party house, akin to a yacht club, which overlooks the property’s main pool. Residents enjoy direct lift access to their apartments. The three-bedroom units feature private courtyard gardens while the four-bedroom units have exclusive private pools with decks.


Natural relaxation zones and jewel-themed gardens dot the development and give residents instant places to unwind. Residents can also work from home at the building’s sunny coworking lounge with its floor-toceiling windows. Inspired by the Monaco lifestyle, DEFINE is distinguished by its French-style grand arches and interlocking columns. Residents step into a spacious grand lobby and welcome lounge with shimmering gold accents and a wave-like ceiling installation.






CapitaLand Development (Vietnam)

DEFINE by CapitaLand – Thien Duc Co. Ltd

DEFINE by CapitaLand – Thien Duc Co. Ltd

Developer: CapitaLand – Thien Duc Co. Ltd Product type: Luxury condominium Architect: RSP (Singapore) Launch date: December 2021 Completion date: Q4 2024 Total land area: 4,501 sqm Number of units: 88 Unit size: 197.2-297.7 sqm (three-bedroom), 260.3-295.5 sqm (four-bedroom), 528 sqm (penthouse) Facilities: Supercar garage, automated car parking system, party house, pools, gardens, terraces, lounges, hydrotherapy jacuzzi, vehicle washing bays, eco charging points, playground, kid’s club, pavilions, wine cellar, sauna and steam room, gym, yoga studios, and more Monthly maintenance fees: VND40,000 per sqm Price range: USD4,500-5,000 per sqm Sales contact details: Tel: 1800 599 986 Address: 60-TML Street, Thanh My Loi Ward, Thu Duc City, HCMC, Vietnam



Andaman Village Shaoxing, China

Andaman Village is a cultural real estate development and upcoming tourist destination in the Xinchang county of Shaoxing City. The project encompasses a cultural community, small luxurious hotels, courtyard residences, and more, set beside spectacular peaks and rivers. The project is in the estuary delta beside 19 Peaks , a National 4A Level scenic spot in China. The site is in pristine condition, making possible a landscape design reminiscent of a “poetic dwelling of the garden leaning on the island.” Steeped in local culture, the project takes inspiration from the Roads of Tang Poetry, historic spots in eastern Zhejiang province visited by hundreds of poets during the Tang Dynasty. It will also have many crossover branding activities when it opens.


The project centres on a cultural and art community that integrates the architectural characteristics of modern article buildings down to their characteristic eaves. Themed as the “Dream of Art Community,” the community is laid out in a magnificent grid structure, with shops and businesses incorporating Tang-style folk customs. True to the province’s heritage, architects abstracted from the nearby mountains the design elements of “rock”, “ridge”, “ridge”, “valley”, “peak,” and “stream” and integrated them into the project’s landscaping. The village includes verdant attractions such as the Yixin Six Gardens, which recreate the experience of cutting through rocks and crossing mountains.


Andaman Village by Regalia Group


Developer: Xinchang Yuting Tourism Development Co. Ltd. Architect: Shanghai Tianhua Architectural Design Co. Ltd. Launch date: February 2020 Completion date: December 2024 Total land area: 100,920 sqm Sales contact details: Tel: 18858565372 Email: Address: Zuoyu Village, Chengtan Town, Xinchang County, Shaoxing City, Zhejiang Province, China



Paramount Petals Tangerang, Indonesia

This township is an integrated “one-stop living” development encompassing 300 hectares of land in Banten province towards the west of Jakarta. Master-planned by AECOM, the project contains residential neighbourhoods, commercial buildings, business spaces, and education and healthcare facilities, as well as an entertainment area. Aiming to promote “Lovable Living,” Paramount Petals is designed to integrate urban infrastructures into a green environment, creating a selfsustaining, closely knit community. Residents and visitors have access to a variety of amenities and facilities and interact with nature every day. Aster and Canna, the first two residential clusters in Paramount Petals, feature an aesthetically pleasing architecture and interior design with high ceiling concept that provides room customisation options. The homes are suited to a wide range of demographic segments, from millennials to families with children. Paramount Petals is strategically located. The township has direct toll gates to its two main access routes, the Jakarta-Tangerang toll road and the Jakarta Outer Ring Road (JORR). This level of connectivity makes Paramount Petals very commuter-friendly and accessible, with corners of the township only a short ride from each other. The township also offers a wide choice of transportation modes, easing the commute for residents.




Paramount Petals by Paramount Land

Paramount Petals by Paramount Land


Developer: Paramount Land Product type: Township Architect: AECOM (master-planner) Launch date: July 2021 Completion date: 2025 (South Paramount Petals) Total land area: ±300 ha Number of units: 1,946 (South Paramount Petals) Price range: IDR791 million-1.7 billion Monthly maintenance fees: IDR375,000-400,000 Facilities: Residential areas, commercial buildings, business spaces, education and healthcare facilities, entertainment areas Sales contact details: Tel: (+62 21) 5999-9999 Email: Website: Instagram: @officialparamountpetals Address: Jl. Boulevard Sakura No. 9, Paramount Petals, Tangerang, Banten, Indonesia 187


The Sanctuary Collection Bogor Regency, Indonesia

The Sanctuary Collection is an international collaboration project between Perennial Holdings Private Limited, PT. Cipta Harmoni Lestari and Qingjian Realty (South Pacific) Group Pte. Ltd. Located at the heart of South Sentul, The Sanctuary Collection is created with the concept of Premium Resort Living by The Mountain in accordance with its beautiful location and the fast-growing lifestyle in the South Sentul area. The luxury residences are surrounded by various international-standard facilities, ranging from malls, schools, to hospitals. It is a safe haven that offers a premium choice of new normal way of living that guarantees a unique experience for the people of Jakarta and its surroundings. The Sanctuary Collection is the perfect choice of a sophisticated, comfortable, and luxurious residence with complete facilities such as the main clubhouse, a bonfire and BBQ area, thematic Olympic-size swimming pool, and other various premium amenities where one can live, work and play in nature.




The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty







The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty

Developer: Perennial Holdings Private Limited, PT Cipta Harmoni Lestari, Qingjian Realty Product type: Landed house Architect: DP Architects Launch date: July 2020 Completion date: July 2022 (Cluster Tanglin Parc) Total land area: 25 ha Number of units: 160 (Tanglin Parc), 113 (Newton Springs) Unit size: 125-225 sqm (gross floor area), 91150 sqm (lot area) Price range: USD181,441-495,473 Facilities: Tennis court, basketball court, sports centre, clubhouse, gym, jogging track, swimming pool, green park, eco corridor, café, movie room, playground, BBQ area Sales contact details: Tel: +6281938000088 Email: Address: Cijayanti, Babakan Madang, Bogor Regency, West Java, Indonesia 16810 189


Vine Residences Quezon City, Philippines

SMDC’s Vine Residences is composed of five residential towers on a 3.1-hectare site within the SM City Novaliches compound in Quezon City. The two-bedroom residential units are geared towards young professionals, starter families, and aspiring homeowners and investors in Metro Manila. Residents have the convenience of living next door to a shopping mall, SM City Novaliches, filled with popular restaurants and cafes as well as retail and entertainment destinations. The SMDC mall contains a transportation hub, making the location even more convenient for residents. The towers feature hotel-like lobbies and resort-style amenities, including lap pools as well as eco and jogging trails. A sprawling private urban garden, Nature Park, and The Central Park, home to sunken gardens, providing residents a lush, welcome respite from the pressures of urban life. Also unique to the project is a campsite for families. Vine Residences is built to be a safe and secure community, with architectural resiliencies in place for natural disasters. The residences have been elevated, for example, to make the site more resilient. SMDC provides professional property management services through GPMC. Homeowners looking for investment opportunities at Vine Residences can also enjoy end-to-end, hassle-free leasing services through SMDC Prime Key.




SM Development Corporation (SMDC)

SM Development Corporation (SMDC)





Vine Residences by SM Development Corporation (SMDC)

Vine Residences by SM Development Corporation (SMDC)

Developer: SM Development Corporation (SMDC) Product type: Condominium Architect: ASYA DESIGN Launch date: October 2016 Completion date: May 2021 (Phase 1), June 2022 (Phases 2 and 3) Total land area: 31,071 sqm Number of units: 2,056 Average unit size: 29.65-33.70 sqm (two-bedroom) Facilities: Adult lounge pool, children’s splash and play zones, sunken gardens, eco and jogging trails, basketball court, camp hill site, gazebo Monthly maintenance fees: USD1.63 per sqm Average price range: USD74,485 (USD67,300-83,440) Sales contact details: Website:



Setsu Niseko Hokkaido, Japan

The project consists of 190 investment-grade hotel residences in Grand Hirafu, the largest resort area in world-famous ski destination Niseko. Nestled on a one-hectare estate adjacent to the Grand Hirafu gondola station, Setsu Niseko is flanked by the ski slopes of Mount Annupuri and picturesque Mount Yotei. Each holiday home is fully furnished, synthesising Japanese design and affording residents with views of the alpine landscapes. Property seekers can choose from an array of freehold units from studios to penthouses, with a one-stop professional management and letting service to manage bookings by third-party guests. Setsu Niseko boasts popular F&B venues, including the all-day dining restaurant Meli Melo -Yuki No Keo by Michelin star Chef Sato; tempura omakase sensation Tempura Araki by Michelin star chef Araki Yoshiyuki; intimate sushi bar Sushi Kato Inori; ramen eatery Afuri from Tokyo; Luke’s Oyster Bar and Chop House from Singapore; and wine connoisseur favourite Park90 Niseko. Setsu Niseko’s Spa and Wellness Centre is a crowd-pleaser with indoor and outdoor hot springs, plus private onsen rooms. The centre also holds a sauna, cold dipping pool, treatment rooms, gym, yoga studio, and spa. Elsewhere, the property has courtyard gardens and a kids’ play area. Services are hotellike, which include a complimentary gondola shuttle, concierge, in-suite dining, and ski rental. 192





Setsu Niseko by SC Global Developments Pte Ltd

Setsu Niseko by SC Global Developments Pte Ltd





Setsu Niseko by SC Global Developments Pte Ltd

Setsu Niseko by SC Global Developments Pte Ltd

Developer: SC Global Developments Pte Ltd Product type: Hotel condominium residences Architect: W Architects Pte Ltd and Kume Sekkei Co. Ltd Launch date: December 2018 Completion date: July 2022 Total land area: 10,292 sqm Number of units: 190 Average unit size: 40-258 sqm Facilities: Public and private onsen, all-day and fine dining restaurants, sushi bar, ramen eatery, oyster bar and chophouse, lounge bar, ski rental shop and concierge, playroom, courtyard gardens, basement car park, spa, gymnasium, yoga studio, and more Monthly maintenance fees: From JPY55,500 Price range: From JPY5.5 million incl. consumption tax (studio units) Sales contact details: Tel: +65 6100 2323 Email: Address: 200 Newton Road, #09-01, Singapore 193


The Watergardens at Canberra Canberra Drive, Singapore The Watergardens at Canberra is a condominium development in Northern Singapore near the upcoming Bukit Canberra Integrated Hub. The project consists of 16 low-rise blocks offering 448 homes in a variety of configurations, ranging from twobedroom to four-bedroom premium units. Only a short walk from the future Canberra MRT station and close to six neighbourhood parks, the development offers tropical resortstyle living within an upcoming residential enclave. The development features 61 facilities, including eight themed pavilions, and three distinct landscaped zones: a forest pool with a water jet terrace and water slides; a 50m lap pool zone with facility pavilions; and a recreation lawn area with flower gardens. Many of the units at The Watergardens at Canberra enjoy passive cooling and


direct views of the pools and landscaped areas, especially from the generously sized balconies, thanks to the site’s well-designed layout. The sloping terrain creates blocks of varying heights, giving way to tiered pools and layered gardens. Optimised for work-from-home arrangements, the units offer flexible, functional, well-proportioned interiors. The homes on the fifth floor, from the twobedroom premium units and larger, come with high-volume living and dining areas while all two-bedroom premium plus study units and above contain fully enclosed kitchens. The finishes palette is luxurious, with attention paid to details like wardrobe compartments and bathroom mirrors.


The Watergardens at Canberra by UOL Group, Kheng Leong Company and Singapore Land Group





The Watergardens at Canberra by UOL Group, Kheng Leong Company and Singapore Land Group

The Watergardens at Canberra by UOL Group, Kheng Leong Company and Singapore Land Group

Developer: UOL Group Limited Product type: Condominium Architect: P&T Consultants Pte Ltd Launch date: August 2021 Completion date: June 2026 Total land area: 296,720 sq ft Number of units: 448 Average unit size: 904 sq ft Facilities: Pools, jacuzzis, decks, trails, gardens, water and garden hammocks, lawns, loungers, water slide, early childhood development centre facility, pavilions, gyms, function rooms, music room, games room, karaoke room, reading corner, outdoor chess, and more Monthly maintenance fees: From SGD360 Price range: From SGD920,000 Sales contact details: Tel: +65 82006060 Address: Sembawang Vista, Singapore 750315


17 AR YE S


Asia Property Awards

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