PropertyGuru Property Report No.179 (August - September 2023)

128 SINGAPORE’S EV DRIVE

PHILIPPINES RUNS WITH RENEWABLES 131

100 RAMINDRA ON THE RISE

MIXED TIDINGS IN CHINA 120

72 WEAVING WONDER FROM WASTE

ARUP’S URBAN REFORMS 82

USD10; SGD13; IDR135,000; MYR41; THB330

NO. 179 asiapropertyawards.com/newsroom

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Kohler

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Prompt 88

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Sinar Mas Land

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Sinar Mas Land

L U X U R I O U S S TAY I N N I S E K O S U R R O U N D E D B Y T H E N AT U R E Andaru Collection Niseko is a luxury village living concept that blends modern Japanese and Balinese styles together. The villas are set against the magnificent backdrop of Mount Yotei and within the natural beauty of the renowned ski destination of Niseko, Hokkaido, Japan.

W W W. A N DA R U . J P

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Kambujaya Development Co., Ltd

ASIA WINNER

Best Branded Residential Development

In Asia 2022

The Residences at Sheraton Cebu Mactan Resort 10

Discover Thoughtful, Elevated Living

Kambujaya Development Co., Ltd Nestled within a tropical sanctuary of sea and land, The Residences at Sheraton Cebu Mactan Resort transform your everyday living experiences with carefully considered and thoughtfully inspired home dwellings.

The multi-awarded development by AppleOne Mactan draws inspiration from the surrounding cliffs, lush foliage, expansive beaches and exposed rocks, to create stylish modern residences that reflect contemporary design with tropical aesthetics and local touches. The Courtyard Villas at The Residences is at the helm of elevated resort-living with its generous living spaces boasting unobstructed views of nature and the courtyard lagoon pools. Choose from a 2-bedroom home or 3-bedroom loft with its own private pool and inclusions that suit every family’s needs. Get to experience an exclusive Residents only Beach Club and have access to the resort, offering unparalleled services and 5-star amenities including modern dining facilities, a signature spa, decadent steam rooms, state-of-the-art fitness center, and a stunning beach along Mactan Island.

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An AppleOne Mactan, Inc. project. The Residences at The Sheraton Cebu Mactan Resort are not owned, developed or sold by Marriott International, Inc. or its affiliates. AppleOne Mactan, Inc. uses the Sheraton® trademarks and trade names under a license from Marriott International, Inc. or one of its affiliates. If this license is terminated or expires without renewal, the residential project will no longer be associated with or have any right to use, the Sheraton brand, trade names or trademarks.

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Angkor Palace Development Co.,Ltd.

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Angkor Palace Development Co.,Ltd.

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Sustainable Development Social Wellbeing Economic Prosperity

+852 3002 0692 marketing@benoy.com www.benoy.com

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Winner Best Bespoke Commercial Interior Design

Benoy Hong Kong Studio 19/F, Tower 535, 535 Jaffe Road, Causeway Bay, Hong Kong

Designed with flexibility, wellbeing and sustainability in mind, the Benoy Hong Kong Studio is the future of workspace set to make its mark on Asia’s work environment.

Agile Workplace of the Future

Creativity-boosting Environment

Environmental Sustainability

Biophilic Design and Employee Wellness

Architecture and design practices are increasingly being asked by clients to create a more agile working environment. It would be interesting to witness how one of Hong Kong’s leading practices, Benoy, creates a new workplace for its people.

Designed around flexible working principles, the Studio provides a generous, multifunctional, communal collaborative space that can comfortably accommodate a large group of staff who are required to be in the office at any time.

The Benoy Hong Kong Studio is a stunning new 6,600 sq ft studio in Tower 535, Causeway Bay. It uses a clever combination of workstations and activity-based spaces to cater for onsite and remote workers.

The Studio features a spacious galleria at the front that showcases Benoy’s heritage, top industry awards and iconic projects. A substantial percentage of the space is dedicated to formal and informal meetings and social gatherings, all housed within a relaxed, free-flowing space overlooking the stunning Hong Kong harbour.

To incorporate environmental sustainability initiatives into their new home, Benoy collaborated with a specialised asset management firm to facilitate the responsible reuse and redistribution of existing material assets and furniture from its previous office. Smart lighting and air conditioning systems were installed to maximise energy savings.

Staff wellbeing was also a priority, with social and open plan collaborative spaces for people to relax, reset and unwind throughout the workday. Ergonomically designed working areas with adjustable standing desks allow alternately sitting or standing. Benoy incorporated biophilic design and elements to evoke a sensory experience of nature; this includes plants, natural light, natural materials, fractal patterns, and the design of spaces themselves.

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LA R G ES T FA C I LI T I ES 8. 6 R AI IN RAMA 9

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Artist’s Rendering

Where Winners Go. Welcome to Bridgetowne, a destination estate by Robinsons Land that connects two of the Philippine capital’s main city centers, Quezon City and Pasig City. Envisioned to be the standard for a green and sustainable community, the estate aspires to ignite the winning spirit, and bridge powerful and meaningful connections that let you win at work and in life.

Artist’s Rendering

Artist’s Rendering

Artist’s Rendering

Artist’s Rendering

Live

Work

Play

Inspire

Experience the lush lifestyle in the dynamic mix of residential offerings in the estate.

Grow and thrive with the cultures that are present in the office district.

Relax and bask in the amenities that cater to all your wants and needs.

Embrace the glorious ambiance and be in awe of this new global landmark.

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BRIDGETOWNE WEST: Eulogio Rodriguez Jr. Avenue, Quezon City BRIDGETOWNE EAST: Amang Rodriguez Avenue, Pasig City www.robinsonsland.com

The Destination Estate for Winners Robinsons Land's first master-planned destination estate, Bridgetowne, raises the bar as a purveyor of the live-work-play-inspire lifestyle.

One of the Philippines’ leading property developers, Robinsons Land, received the Best Township Development and Best Township Masterplan Design awards for its first destination estate, Bridgetowne, in the PropertyGuru Philippine Property Awards 2022.

The gold standard for play, finding a place to relax amidst a busy city has never been easier and more convenient.

Whether for sports or having a great night out, the estate is complete with various amenities, that will be sure to cater to everyone's leisurely needs.

Connecting the Philippine capital’s city centers, Quezon City and Pasig City, via an iconic bridge and The Victor, a 20-story high public art installation, this destination estate integrates both business and lifestyle developments for efficient, functional and dynamic living within its community.

The gold standard for inspiration, the estate exudes a sense of victory and breakthrough throughout all its developments, embodying the values that Robinsons Land aspires to showcase in this world-class destination.

The gold standard for living, this 32-hectare premium development features world-class establishments with the signature Filipino character that exude the premium lifestyle. From the luxurious shopping mall, dining districts to the 5-star hotel, these places were curated for everyone to live their best life.

The gold standard for work, winning cultures within the estate encourage thriving and holistic growth for professionals in all fields. As a champion of sustainability, all office buildings in the estate are green-certified offering innovative workspaces conducive for excellence and creativity.

Join us in our vision for growth and excellence by inquiring about our leasing, investment and partnership opportunities. Visit us at www.robinsonsland.com.

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ISSUE 179 Publisher Jules Kay Editor Duncan Forgan Deputy Editor Al Gerard de la Cruz Senior Editor Richard Allan Aquino Digital Editor Gynen Kyra Toriano Editorial Contributors Liam Aran Barnes, Bill Charles, Oliver Irvine, Steve Finch, George Styllis, Jonathan Evans Head of Creative Ausanee Dejtanasoontorn (Jane) Senior Graphic Designer Poramin Leelasatjarana (Min) Digital Marketing Executive Anawat Intagosee (Fair) Media Relations & Marketing Services Manager Nate Dacua Media Relations & Marketing Services Executive Piyachanok Raungpaka Marketing Relations Manager Tanattha Saengmorakot Senior Product Lifecycle & Brand Manager Marco Bagna-Dulyachinda Director of Sales Udomluk Suwan Regional Solutions Manager Orathai Chirapornchai Regional Sponsorship Manager Kanittha Srithongsuk Solutions Manager (Australia) Watcharaphon Chaisuk Solutions Manager (Cambodia) Phumet Puttasimma Solutions Manager (Cambodia and Greater Niseko) Nyan Zaw Aung Senior Solutions Manager (China and India) Huiqing Xia Solutions Manager (China and Australia) Kai Lok Kwok Solutions Manager (India and Sri Lanka) Monika Singh Senior Account Manager (Indonesia) Wulan Putri Senior Account Manager (Indonesia) Oky Prasetya Asst. Manager (MY & CN) - Awards Samuel Poon Senior Solutions Manager (Philippines) Marylourd Pique Solutions Manager (Philippines) Maria Elena Sta. Maria Awards Manager (Singapore), Corporate Sales Alicia Loh Senior Account Director (Thailand) Kritchaorn Rattanapan Senior Account Director (Thailand) Rattanarat Srisangsuk Head of Awards & Developer Business (Vietnam) Nguyen Tran Minh Quan Business Development, Awards Sponsorship Priyamani Srimokla Distribution Manager Rattanaphorn Pongprasert General Enquiries awards@propertyguru.com Advertising Enquiries petch@propertyguru.com Distribution Enquiries ying@propertyguru.com PropertyGuru Property Report is published six times a year by

© 2023 by PropertyGuru Pte. Ltd. All rights reserved. No part of this publication may be reproduced without prior permission of the publisher KDN PPS 1662/10/2012 (022863)

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CONTENTS | Issue 179

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Gadgets

Trends

Style

Eco-friendly devices that make affirmative climate action easy

Wooden wonders that won’t denude our forests

Make your kitchen the starting point for a beautiful cycle of reuse

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Project Confidential: Welcome to the jungle

Interview: Putting waste to work

Design Focus: Shaping our cities

The Forestias, a leafy new master-planned community in Bangkok, germinates maverick ideas of intergenerational living and sustainability

Indonesian entrepreneurs Ovy Sabrina and Novita Tan have made a meaningful mark with their firm Rebricks

Arup’s work in sustainable planning has seen it collaborate on major urban projects worldwide

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CONTENTS | Issue 179

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Neighbourhood Watch: Ramindra

Special feature: What’s old is new

Destination: Malaysia

Handily located, but with plenty of leisure attractions and green space, Ramindra is one of Bangkok’s hottest emerging ‘hoods

Planners, designers, and developers around Asia are looking to the region’s past for inspiration as they attempt to reduce harmful carbon emissions

Rising interest rates and housing affordability concerns weigh on Malaysia’s property market amidst a weaker growth outlook

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Destination: China

Dispatch: Electric avenues

Dispatch: Going with the wind

China’s housing market finally recorded growth in the first quarter. But market analysts say it’s too soon to talk of a recovery despite positive signs

The pace of installation and consumer sentiment are still lagging as Singapore aims to meet its 2030 EV ambitions

The Philippines has set aside its history of rejecting renewables and is setting its sights on becoming the region’s top green power producer

HIGHLY COMMENDED BEST HOUSING DEVELOPMENT (BANGKOK)

Baan Klang Muang CLASSE Sukhumvit 77

by AP (THAILAND) PUBLIC COMPANY LIMITED

re-envision

OF LUXURY LIVING THE BEST RESIDENCE COMES WITH THE BEST INNOVATIONS AP LIVING I NNOVATION DELIVERS THE BEST CONVENIENCE THAT YOU CAN ALWAYS COUNT ON.

FOR MORE INFO

TIMELESS DESIGN

A HERITAGE OF 19TH CENTURY NEOCLASSICAL ARCHITECTURE, THE TIMELESS BEAUX-ARTS STYLE CONVEYS UNIQUENESS AND A NOTABLE CHARACTER, BEAUX-ATRS ARCHITECTURE FEATURES SCULTURAL DECORATION ALONG CONSERVATIVE MODERN LINES AND MAKES USE OF FRENCH, ITALIAN BAROQUE AND ROCOCO ORNAMENTATION IN COMBINATION WITH AN IMPRESIONISTIC FINISH AND REALISM. UNIVERSAL DESIGN

SECURITY HOME

HOME ENERGY SAVING

INTRODUCING THE LUXURY RESIDENCES DESIGNED TO KEEP WHAT'S ESSENTIAL FOR LIFE AND HELP MAXIMIZE YOUR EXPERIENCE

AUTOMATION KATSAN, THE LASTEST INNOVATIVE SECURITY SYSTEM BY AP, HELPS SECURE YOUR LIVING PARAMETERS 24/7 WHILE MAKING LIVES MORE CONVENIENT WITH OTHER ESSENTIAL FUNCTIONS ALONG THE WAY.

EACH ROOM HAS BEEN WELL-DESIGNED WITH EXTRA-LARGE WINDOWS FOR ALL-DAY OPTIMAL NATURAL SUNLIGHT EXPOSURE, CREATING BOTH WARMING AND ECO-FRIENDLY ENVIRONMENT ALL IN ONE.

โPROJECT’S NAME BAAN KLANG MUANG CLASSE SUKHUMVIT 77 LAND OWNER AND PROJECT DEVELOPER: ASIAN PROPERTY (2018) CO.,LTD. COMPANY REGISTRATION NUMBER 0105560124515 COMPANY ADDRESS: 170/57 18TH FL. OCEAN TOWER 1, RATCHADAPISEK., KHONGTOEY BANGKOK 10110. CHIEF EXECUTIVE OFFICER: MR. ANUPHONG ASSAVABHOKHIN. REGISTERED CAPITAL OF THE COMPANY: THB 1,000,000.PROJECT’S LOCATION: SUAN LUANG SUB DISTRICT, SUAN LUANG DISTRICT, BANGKOK. LAND TITTLE DEED NUMBERS : 22611, SUAN LUANG SUB DISTRICT, SUAN LUANG DISTRICT, BANGKOK. PROJECT’S AREA : 20 RAI 2 NGAN 6.5 SQUARE WAH (8,206.5 SQUARE WAH). THE LIST AND SIZE OF THE UTILITY ASSETS ARE IN ACCORDANCE WITH THE LAND ALLOCATION REQUIREMENTS. THE CLUB BUILDING AND THE LAND FOR THE CONSTRUCTION OF THE JURISTIC PERSON OFFICE ARE PUBLIC SERVICE AREAS. LOCATED ON LAND OWNED BY THE COMPANY AREA OF APPROXIMATELY 223.0 SQUARE WAH AND 20 SQUARE WAH RESPECTIVELY. THE PROJECT HEREUNDER IN IN THE PROCESS OF APPLYING FOR A LAND DEVELOPMENT PERMIT .DATE OF COMMENCEMENT: DECEMBER 2021 AND EXPECTED TO BE COMPLETED APPROXIMATELY IN JUNE 2024.

ASIAN PROPERTY (2018) SHALL PROCEED TO COMPLETE SUCH TRANSFER THE OWNERSHIP TO THE PURCHASER WITHIN 30 (THIRTY) DAYS AFTER THE PURCHASER PAY ALL THE PRICE AS STATED IN THE SALE AND PURCHASE AGREEMENT

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ADVERTORIAL

The Future Is Asian Blue Waves Group is building and spreading an abundant portfolio of stable, diversified investments across Asia

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ADVERTORIAL

This is the Asian Century, and there is no stopping it.

By 2030, the Asian share of global GDP will likely surpass 50%.

This year alone, the region will contribute about 70% to global growth, according to the International Monetary Fund (IMF). The Asian Development Bank (ADB) also predicts that the per capita income in Asia will rise sixfold by 2050 (in purchasing power parity terms), reaching Europe’s current levels.

As the last Covid-19 border restrictions conclude across Asia, investors are rekindling the search for properties outside their own countries. From China to India to Singapore, property seekers are showing willingness to do cross-border purchases again for immigration, international education, retirement, or wealth preservation, especially as an asset to pass on to their children.

Blue Waves Group is riding the crest of this resurgence.

The Group boasts an extensive history in the realms of

food manufacturing, distribution, and retail. Operating across Singapore, Japan, Australia, and Indonesia, the group consistently ventures into exciting new markets and business prospects.

Over the last 10 years, the Group has undergone rapid growth, expanding into property, hospitality, and investment enterprises, as well as advertising and electric vehicle distribution. This captivating blend of industries has empowered its teams to amass a wealth of knowledge and expertise, strategically positioning the Group as a leading authority in innovative business models.

Blue Waves Group is developing such premium and luxury projects as Andaru Collection Niseko in the renowned ski destination of Niseko in the Japanese island of Hokkaido.

Blending architectural styles from both Japan and Indonesia, Andaru Collection Niseko showcases a luxury village living concept with villas set against the

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ADVERTORIAL

magnificent backdrop of Mount Yotei. It offers a novel form of travel, fusing the seclusion of a hotel-style villa with the enchantment of glamping.

Situated in the stunning surrounds of Kabayama area of Niseko, the Andaru Collection holds a central location near all the ski mountains and lifts in Niseko. The development is only a mere five to 10 minutes’ drive from each.

The Andaru Collection Niseko project commenced in late 2016 as a collaboration between esteemed local architect Koichi Ishiguro of ISA Design and masterplanner Paul Ma, with Iwata Chizaki as the main contractor.

Also in Hokkaido, Blue Waves Group has developed the Akaigawa Tomo Playpark, a popular amusement park. It offers a wide range of fun-filled activities and attractions for visitors of all ages. From thrill rides and water slides to relaxing gardens and picnic areas, Japan’s one and only playpark gives a delightful experience to families and thrill seekers alike.

Other Andaru Collections can also be found down south in the tropical paradises of Indonesia. Andaru Kerobokan, a luxurious villa estate in Bali, merges

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a variety of design influences, including traditional Chinese art, a Dutch-influenced vibe, and ambient Japanese village living. This three-bedroom retreat, nestled within the picturesque village of Kerobokan, gives its occupants a captivating vista of sloping rice terraces.

Then there are Blue Waves Group’s standalone villas in other beautiful Indonesian locales.

One of these, Andaru Umalas, is a showcase of timeless, classic Balinese design, emphasised by its traditional lampit or rattan ceilings and exquisite parasols. Centred on a sparkling private pool, the abode is distinct for its three pavilions that are thoughtfully positioned around a spacious garden with coconut palms, mature trees, and blossoming frangipanis.

Andaru Tabanan, a deluxe three-bedroom villa just some steps away from the Balinese beach of Kelating, boasts close proximity to the legendary Tanah Lot Temple. Built around a scenic garden space, Andaru Tabanan envelops its residents in the aroma of native Balinese trees and flowers. Its tastefully furnished living pavilion, poolside sun deck, and grand gazebo provide spaces to relax and unwind, bask in the sun, or immerse in tranquil moments.

ADVERTORIAL

Meanwhile, the spacious two-bedroom villa of Andaru Tanah Lot affords its residents with majestic sea views from its picturesque setting in the prestigious Bali Nirwana Resort of Tabanan Regency. Residents can explore the nearby attractions or simply relax by the pool and take in the splendour of the seaside vistas.

In addition, Blue Waves Group has a forthcoming development in the misty highlands of Bedugul in Bali and a new residential sanctuary in Singaraja.

Blue Waves Group truly pursues high-quality investments across the Asia-Pacific region. Guided by ethics and governance, the Group leverages diverse industry expertise and generates superior returns for investors. Its portfolio aligns with its social, economic, and environmental responsibilities, prioritising integrity, honesty, and fairness for enhanced shareholder value.

The next few years are going to be crucial for Blue Waves Group, indeed. From real estate to restaurants to rare investment assets, the company represents the next wave of economic progress in Asia.

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EDITOR’S NOTE Issue 179

There was once a time when the real estate industry and the concept of sustainability made reluctant bedfellows.

There’s a lot to be said for a vibrant and healthy construction sector. But not even the strongest of advocates of built development would argue that it has always been good for the environment.

Yet that picture has altered drastically in recent times as the real estate sector has faced up to its environmental stewardship duties admirably. Indeed, there are positive vibes aplenty inside this, our green issue.

We travel to Indonesia to meet up with the friends behind Rebricks, an entrepreneurial smash where plastic waste is converted into construction materials. Also Indonesia-adjacent is design, engineering, and sustainability consultants Arup, which is currently shaping future urban landscapes like Nusantara, which will succeed Jakarta as the nation’s capital. The green theme is rounded out in Thailand, Singapore, and The Philippines with articles on one of Bangkok’s new greenest developments, a push towards EV-use in the Lion City, and the amazing boom in renewables in The Philippines.

Indeed, the latter story is especially significant as a bellwether. The Philippines was once a laggard in the region when it came to green energy. Now it is leading the charge; further proof that old habits needn’t die hard in the fight to mitigate climate change.

Duncan Forgan Property Report duncan@propertyguru.com

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WELCOME TO CO-LIVING WHERE COMMUNITY MEETS CONVENIENCE

Discover a new way of living, a place that feels like home and where meaningful connections are forged

REDEFINING THE WAY YOU LIVE, WORK & CONNECT Website: www.theassemblyplace.com Email: info@theassemblyplace.com Instagram & Facebook: @theassemblyplace

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DETAILS | Gadgets

ALL POWER TO YOU Affirmative climate action is made easy and enjoyable with these eco-friendly devices

STRONG FINISHING The ceramic-like finish of the Zenbook 14X OLED is not only beautiful to look at; it’s also environmentally friendly. It’s made possible by plasma ceramisation, a finishing process with low toxic emissions. Underneath it all is a choice of the powerful 13th Gen Intel Core H-Series CPUs.

From USD1,799, asus.com

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WINNER

WINNER

HIGHLY COMMENDED

BEST BOUTIQUE CONDO DEVELOPMENT

BEST BOUTIQUE CONDO INTERIOR DESIGN

BEST LIFESTYLE DEVELOPMENT

Orchard Sophia

by Orchard Sophia Pte Ltd

Orchard Sophia

by Orchard Sophia Pte Ltd

Orchard Sophia

by Orchard Sophia Pte Ltd

Orchard Sophia Artist’s Impression

Singapore Botanic Gardens

Orchard

Chinatown

Dhoby Ghaut

Bugis

Raffles Place

Marina Bay

2 MRT Stops

2 MRT Stops

5-min Walk

2 MRT Stops

2 MRT Stops

3 MRT Stops

4 MRT Stops

Spa Pool

For Illustration Only

Rooftop Dining

Lobby

Artist’s Impression

Artist’s Impression

BOON KENG

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New Award-Winning Hilltop Sanctuary O

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DHOBY GHAUT

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KALL JALAN BESAR

EGIE

Developer: Orchard Sophia Pte. Ltd. • License No.: C1417 • Lot No.: Lot 00437M & 00213C TS19, Singapore • Tenure: Estate in fee simple (freehold) • Encumbrances on the Land: Mortgage to Hong Leong Finance Limited • BP No.: A2788-03660 2020 BP01 dated 05-06-2023 • Expected Vacant Possession Date: 31 August 2027 • Expected Legal Completion Date: 31 August 2030.

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LITTLE INDIA

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FOR ENQUIRIES, CALL 8299 1748 OrchardSophia@yahoo.com

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Sales Gallery along Upper Boon Keng Road.

Open daily from 10am to 6pm.

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SALES GALLERY

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FARRER PARK

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Located at the tip of Sophia Road, Orchard Sophia is a modern urban freehold sanctuary that won coveted awards at the 2022 PropertyGuru Asia Property Awards Singapore.

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DETAILS | Gadgets

PLASTIC FANTASTIC Brought to life via Kickstarter, the 12,000mAh portable chargers of sustainable design studio Gomi are encased in psychedelic recycled plastic and powered by repurposed batteries.

The battery cells are reclaimed from decommissioned electric scooters and other kinds of trash that would have polluted the land.

From GBP40, gomi.design

SUNNY SIDE SUPPER The GoSun Go portable solar oven can cook meals with nothing but sunshine as fuel.

Able to boil water, make tea, and provide petroleum-free cooking anywhere, rain or shine, the oven is a musthave for foodies on the go or those trying to survive in the wild.

MARINE MACHINE One-fifth of the Microsoft Ocean Plastic Mouse shell comes from plastic waste clogging bodies of water around the world. It’s no throwaway gizmo. In fact, the battery can last up to a year. The packaging itself is entirely recyclable, made from wood and sugarcane.

USD24.99, microsoft.com

From USD139, gosun.co

REDEMPTION SONGS The House of Marley’s portable Bag of Riddim 2 speaker is crafted of solid CNC-milled bamboo and the special REWIND fabric woven from reclaimed organic cotton and hemp as well as recycled PET. It’s just as sustainable in the sound department, with 3.5inch woofers and one-inch tweeters.

From USD199.99, thehouseofmarley.com

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Supporting Association of PropertyGuru Asia Property Awards

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DETAILS | Trends

T REE’S A CROWD Furnish your home with these wooden wonders without denuding the forests

EMERALD CITIZENS The Essential Collection by Seattle’s EcoBalanza comprises sofas, loveseats, chairs and ottomans that use a combination of non-toxic fabrics, organic latex and cotton, kapuk fibre cushions, sustainably sourced hardwood, and responsibly sourced wool batting. Upholstering is done only once, saving on materials and labour.

From USD3,000, ecobalanza.com

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DETAILS | Trends

BALTIMORE CHOP The City Table takes inspiration from the curved steel and sleek lines of New York, but its materials come from down south.

Fallen trees in Baltimore were blended with recycled steel to create this magnificent coffee table with legs in colours of bone, sage, or slate.

USD495, sabai.design

LOST IN THE WOODS

BUDDING OUT Give your children a life lesson in sustainability with wooden table and chairs from Sprout. The set uses CARBcompliant, sustainably sourced Baltic birch wood with water-based, non-toxic finishes. Thanks to tension lock tool-less technology, the set can be assembled or disassembled quickly.

USD265, sprout-kids.com

Transform your bedroom into a haven worthy of Sleeping Beauty with the sustainable Oakleigh canopy bed. Handcrafted in India from ethically sourced mango and water-resistant acacia hardwood, it exudes elegance and durability.

The Heirloom Wheat finish adds a timeless touch while adjustable levelers ensure stability.

From USD2,299, potterybarn.com LA DOLCE VITA Inspired by the famous Italian street Via Montenapoleone, the Strada Bedside Chest is craftily designed out of solid white oak wood by a Sustainable Furnishings Council member. The chest houses two soft close drawers and coin and pullout trays, supported by a strong metal base.

Price upon request, haikudesigns.com

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DETAILS | Style

IN T HE LOOP Change the kitchen’s reputation from a source of waste to the starting point of a beautiful cycle of reuse

PIECE OF CAKE The Silpat baking mat is an eco-essential for homemakers.

Crafted from a fibreglass mesh with a nonstick silicone surface, the mat can be used repeatedly, eliminating the need for parchment paper or greasing. Perfect for baking or just kneading dough, it guarantees easy release and effortless cleanup.

Up to USD40.50, silpat.com

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LIGHT METAL Out with single-use straws and in with reusable straws—sip through ones made by Onyx Containers. These leadand cadmium-free straws are made from polished 18/8 stainless steel and dishwasher-safe. Choose from an array of colours, including bronze and rose gold.

USD4.95 each, onyxcontainers.com

EAT FROM EARTH Every serving ceramics set by Fable is unique, with pieces made from locally sourced materials and recycled clay in Portugal. The set includes an oval serving platter as well as nested serving bowls and little bowls in a variety of sizes.

From USD210, fable.com

POCKET-SIZED SIPS The ecological merits of reusable cups are well-known, but few thought of making them easy to carry—until the Hunu cup, that is. This BPA-free silicone container has a patented collapsible design, meaning it can fit your pocket one minute and hold your liquid the next.

From USD8, wearehunu.com

SEAL THE DEAL Spare the planet from disposable plastics with the endlessly reusable Stasher bags. Made of platinumgrade silicone, the kind ideal for food storage, these versatile containers are BPA-, BPS-, and phthalatefree and dishwasher-safe.

They’re also durable, able to go inside the freezer or oven with equal aplomb.

From USD7.99, stasherbag.com

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ADVERTORIAL

INSPIRED LIVING EXPERIENCES The Sheraton brand arrives in the Philippines, beckoning harried individuals from around the world to enjoy their time in gorgeous condominiums and villas in the famous island of Mactan

For high-net-worth individuals, time is the ultimate luxury.

In this the post-pandemic era of busyness, finding quality time to spend with loved ones—and oneself—can be priceless.

The Philippines is home to a notable number of affluent individuals, reflecting the country’s economic diversity. A growing population of rich people has emerged in recent years as entrepreneurship, investments, and business ventures have contributed to financial success among Filipinos. These wealthy individuals play a significant role in the country’s economic landscape, contributing to job creation, driving consumer spending, and supporting the real estate market.

At the same time, the diaspora of Filipinos continues afoot, with many accomplished overseas Filipino workers taking advantage of foreign exchange rates to invest in high-end real estate back home. Then there are the affluent foreign investors, drawn to the archipelago’s pristine shores, especially those along Cebu.

their “me” and family time in luxurious, relaxing living spaces. The project is notable for being the first Sheratonbranded residences in Southeast Asia, with the added convenience of being nestled within the first-ever Marriottbranded resort in the Philippines.

This exclusive residential enclave includes 154 private units housed in an elegantly constructed 22-storey tower with only up to six residences per wing, ensuring utmost privacy for homeowners. The project is also home to 36 Courtyard Villas, each with its own private pool.

Such collection of homes redefines the concept of elevated living. The units overlook some of the most spectacular views of any residential development in Cebu, with residents catching unobstructed vistas of the ocean or the magnificently landscaped courtyard lagoon pools. These views can be admired through floor-to-ceiling panoramic windows that flood the living spaces with natural light.

The gorgeous province, situated in the heart of the Philippines, harbours a hidden gem designed exclusively for the few who have achieved greatness in their lives.

Each residence at Sheraton Cebu Mactan Resort is meticulously crafted to cater to the desires of successful and well-travelled residents. The interiors boast sophisticated design concepts, blending contemporary furnishings with exquisite local touches.

Situated on world-famous Mactan Island, The Residences at Sheraton Cebu Mactan Resort presents an unparalleled opportunity for successful, affluent individuals to maximise

The architectural marvel, designed by top global firm Blink Design Group, seamlessly integrates modern aesthetics with indigenous elements, embodying the rich cultural heritage

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of the region. Every detail has been carefully considered to ensure a seamless fusion of style and comfort.

An array of world-class amenities awaits residents just outside their homes. Residents have exclusive access to the Beach Club and enjoy the full glory of the Resort’s fivestar facilities. They can pamper themselves at the signature spa, where skilled therapists offer rejuvenating treatments inspired by traditional healing practices. For those seeking an active lifestyle, a fully equipped, state-of-the-art fitness centre provides ample opportunities for exercise and recreation.

Residents can also sample Filipino cuisine and international dishes at the Resort’s modern restaurants and dining facilities, helmed by renowned chefs who create culinary masterpieces using the freshest local ingredients. For those seeking a vibrant social scene, the resort’s bars and lounges offer an exquisite selection of beverages and a platform for mingling with fellow residents.

If the pools do not suffice, the resort’s exclusive beachfront invites residents and their loved ones to partake in a plethora of activities. From building sandcastles with children to indulging in thrilling water sports, the possibilities for adventure and bonding are endless. A romantic dinner by the beach, accompanied by the mesmerising sight of the setting sun, can easily be had.

Mactan is a great jumping point to other stunning beaches and tourist attractions in and around Cebu province, perfect for family outings and romantic getaways.

Individuals who prioritise opportunities for relaxation and bonding with loved ones will have plenty to admire about The Residences at Sheraton Cebu Mactan Resort. Here, residents will discover a world where time stops for them to enjoy life to the fullest.

The Residences at Sheraton Cebu Mactan Resort places special emphasis on fostering meaningful connections and creating cherished memories. The dedicated concierge team is committed to curating unique experiences tailored to residents’ preferences, ensuring that every moment spent here is filled with joy and fulfilment.

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WELCOME TO THE JUNGLE The Forestias, a leafy new master-planned community in Greater Bangkok, germinates maverick ideas of intergenerational living and sustainability for a wide range of demographics

BY AL GERARD DE LA CRUZ

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THE FORESTIAS IS A TOWN WHERE MULTIPLE GENERATIONS LIVE WITHIN EASY REACH OF EACH OTHER, THANKS TO AWARD-WINNING RESIDENTIAL COMPONENTS LIKE THE ASPEN TREE, PICTURED (COMPUTER-GENERATED IMAGERY)

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hailand’s largest private sector property development project also happens to be one of its greenest.

The Forestias, a USD3.8-billion development by leading Thai property developer Magnolia Quality Development Corporation (MQDC), is a foil for the concrete jungle that is central Bangkok. The project, grazing the Eastern Economic Corridor (EEC) at Bang Na-Trat KM 7, is garlanded with 168 rai of green space, including a literal wild forest.

The Forestias originated more than 10 years ago as a utopian vision to bridge the generational divide between family tradition and city life. The homes at The Forestias are the endgames of numerous studies by Research & Innovation for Sustainability Centre (RISC), MQDC’s in-house R&D hub.

Over the years, the researchers uncovered demographic trends that ultimately categorised property seekers into Establishers, Enablers, Colonisers, Peacemakers, and Unleashers.

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“Each group has distinct preferences and requirements for community engagement and social connections,” says Kittiphun Ouiyamaphun, president of MQDC and project director for The Forestias. “Understanding these mindsets allows The Forestias to tailor its amenities and programs to cater to the diverse needs of residents.”

As a result, the residential developments at The Forestias appeal to a variety of market segments and age groups. The site hosts an ageing-in-place community, The Aspen Tree; low-rise residential blocks for multi-generation families, Mulberry Grove Condominiums; high-rise condominium buildings for smaller family units, Whizdom; and clusterhome residences, Mulberry Grove Villas. IHG Hotels & Resorts also lent its star power to the project with Six Senses-branded detached houses.

This year, The Forestias introduced another condominium tower, The Forestias Signature, for families with teenagers.

AROUND 168 RAI OF GREENERY CARPETS THE FORESTIAS, ADDING TO MUCH-NEEDED GREEN AREA IN GREATER BANGKOK (COMPUTER-GENERATED IMAGERY)

After acquiring the 398-rai site in 2016, MQDC set out to assemble a trellis of a team, comprising over 600 companies and 4,000 individuals, for The Forestias. British architecture firm Foster + Partners master-planned the site as an “infinitely extendable diagram of buildings and social spaces” akin to the layout of a traditional Thai house.

By studying Thais’ relationship to classical living spaces, Foster + Partners reintroduced elements lost to modernity.

The architects huddled some of the villas to form compounds, each housing multiple families and recalling stilted vernacular houses that share a central courtyard. In buildings, they employed passive design strategies, inspired by houses of yore with their flexible, perforated walls that optimise ventilation.

Even the Forest Pavilion, the sales gallery and future learning centre, was designed to echo the large overhangs of traditional homes.

“When we look at the modern houses in Thailand today, people have various issues with them due to their unsuitability as the forms are adopted from other cultures,” says Sunphol Sorakul, partner and director of F&P (Thailand), the local entity of Foster + Partners. “Similarly, the city has been adopted from automobile culture, eliminating communal places and changing the scale and boundaries. It also removes our connection to nature.”

With a 48,000-square-metre forest as their centrepiece, the master-planners allocated the commercial components to the site’s narrow northern side close to a major highway.

The residential projects, in turn, live in the larger, quieter southern zone away from main roads. Elevated walkways connect all components, lessening car dependence.

Following preparatory infrastructure works, construction commenced in 2019. The construction site was marked a low emission zone (LEZ), restricting polluting vehicles to preserve air quality. Dissociating from the environmental

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INNOVATIVE WALKWAYS, INCLUDING A CANOPY WALK THROUGH THE FOREST, COMPRISE SOME OF THE PEDESTRIAN-FRIENDLY INFRASTRUCTURES THAT MAKE THE FORESTIAS AN INTERCONNECTED, WALKABLE COMMUNITY

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ONCE THE PLANTS GREW TO A CERTAIN HEIGHT AND DENSITY, WE KNEW THAT THE CLIENT COULD SEE AND FEEL WHAT WE WERE TRYING TO CONVINCE THEM TO DO. THEY WERE QUITE HAPPY WITH THE RESULT

GREY MATTERS Just around 6% of the Thai population were aged over 60 years in 1985—now 20% of them are.

Thailand’s rapidly greying populace was top-of-mind for leading developer Magnolia Quality Development Corporation (MQDC) when it conceived The Aspen Tree residences.

Part of The Forestias project, the collection of condominiums and sky villas comes with lifetime care services, enabling senior homeowners to live independently while maintaining an active lifestyle.

“Traditional Thai family structures, where several generations lived together in the same household, are evolving,” says Kittiphun Ouiyamaphun, president of MQDC and project director for The Forestias. “Factors such as urbanisation and changing societal norms have led to smaller families and reduced availability of familial support for the elderly.

As a result, there is an increased demand for residential communities that provide comprehensive care and services for older individuals.”

MQDC collaborated with The Beaumont Partnership and Studio 54, both renowned Thai design practices, to bring The Aspen Tree to life. The design team prioritised universal design standards, incorporating features like resilient floors and placing emergency buttons throughout the property.

breakfasts to wearable devices. The developer has constructed a purpose-built wellness clubhouse within the property, while the Health and Brain Centre onsite provides 24/7 primary care, complete with geriatric clinics.

Canadian academic health sciences centre Baycrest has entered into a collaborative partnership with MQDC to pioneer evidencebased approaches to the challenges of ageing.

Baycrest, a specialist in geriatric residential living, has helped develop programs that promote active ageing among The Aspen Tree residents, with an emphasis on intellectual stimulation, social interaction, and preventive care.

MQDC and Baycrest have also linked up with the Panyapiwat Institute of Management to launch the Care Angel Program, equipping aspiring Thai healthcare professionals with certifications.

“The collaboration with these institutions ensures that the community’s services and care programs are developed with the highest standards and tailored to the specific needs of older adults,” says Kittiphun.

To alleviate financial uncertainty at this late stage in life, MQDC does not impose common area fees on The Aspen Tree homeowners.

Additionally, MQDC has partnered with Muang Thai Life to bundle the purchase price of units with medical insurance.

MQDC aims to promote the “ageing-in-place” model with The Aspen Tree through a range of services and products ranging from daily 69

THE WATER FEATURES AND WETLANDS OF THE FORESTIAS SERVE NOT ONLY TO ACCENTUATE THE NATURAL SPLENDOUR OF THE SITE BUT ALSO TO RETAIN RAINWATER AND HYDRATE THE BIODIVERSE FLORA AND FAUNA

hazards of quarrying, contractors mostly utilised stones sourced from villagers who routinely remove them from agricultural land.

MQDC sourced low-impact, non-toxic building materials, including FSC-certified wood like timber glulam and compressed bamboo, and implemented upcycling techniques for the project. The road asphalt incorporated discarded ocean waste while piles were repurposed as aggregates. The level of responsible sourcing extends to the ethical treatment of animals, with the team opting for cruelty-free building materials.

Fifty-six percent of the site was set aside as green space.

TK Studio, the landscape design practice behind the Metro Forest in Bangkok, worked its green thumb on the project alongside collaborators like theme park specialist ITEC Entertainment.

Naturally, this cacophony of voices presented itself in differences of opinion.

“Lots of people at the start of the project had different kinds of forest ideas,” says Tawatchai Kobkaikit, managing director of TK Studio. “Some people wanted to do a bamboo forest like in Japan. Some wanted to do the look of a pine forest, 70

where trees are separately spaced with not many lower storeys. But at the end, everyone agreed that a tropical forest with dense vegetation would be more appropriate for the location.”

A tropical forest would also be the least energy-guzzling, lowest-maintenance choice. The nature of the forest would allow TK Studio to implement the Miyawaki method, which favours the planting of species endemic to the area. If humans went away, a Miyawaki forest would regenerate itself.

Stewarded by forest ecologist Anong Chanamool, TK Studio delved into an extensive curation process for the kinds of flora that would go into the forest. Deliberately seeded very close to each other, the plants would mature to create a dense canopy, shrouding the forest floor from sunlight and thereby preventing the growth of parasitic plants.

TK Studio was nervous about how the technique would be received by MQDC. “We planted most trees, shrubs, and groundcovers from saplings,” says Tawatchai. “It was difficult to see how the forest would grow on the first day, especially whether the forest would be green enough when the project opens. We only needed time to help us grow all the plants.

DEFINED BY SHADY OVERHANGS AND GREEN ROOFS, THE FOREST PAVILION’S LARGE-SPAN STRUCTURE CHANNELS THE SOUTHERN WIND, WITH RADIANT COOLING SOLUTIONS FOR LOW-IMPACT COMFORT

“Once the plants grew to a certain height and density, we knew that the client could see and feel what we were trying to convince them to do. They were quite happy with the result.”

The landscaping team enmeshed the woods with skywalks, including a 1.6-kilometre-long canopy walk whence residents can admire the treetops and budding skyline of The Forestias. Five waterfall features generate humidity craved by plants while treated wastewater from the buildings flow to ponds along the forest, which can absorb 30,000 cubic metres of stormwater runoff. The wetland areas also house many species of animals.

Humans are barred from setting foot on the Deep Forest, a 3.75-rai area exclusive to animals. The landscaping team created, for good measure, a route for wildlife crossing between the Deep Forest and the ponds. Trees were also planted along the main road, acting as corridors for animals to move to places unbothered by people. A green roof, spanning over 1,500 square metres, has been erected for birds and insects.

The shrewd landscaping decisions serve to improve health and wellness outcomes for the highest form of animal there is, of course. The Forestias represents 9 sqm of green space

per human being, exceeding the minimum EIA requirement of 1 sqm per person. Bangkok overall only offers 6.9 sqm of green space per capita.

“The green spaces of The Forestias can act as a stepping stone that plays a part in enhancing biodiversity in Bangkok,” says Kittiphun.

When The Forestias was conceived, the lack of green spaces was one of many challenges undermining the development of Thailand. In 2012, the country began a period of steady decline in its levels of happiness, as measured by the Galluppowered World Happiness Report, that would last through the onset of the pandemic.

MQDC hopes to put the Land of Smiles back on track when The Forestias completes its first residential components.

“The essence of The Forestias development lies in its dedication to fostering happiness through strong relationships,” says Kittiphun. “By meticulously distributing our products, we ensure that residents have addresses that not only meet their needs but also provide a convenient, safe, and inclusive environment where they can come together, connect, and spend quality time.”

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Putting waste to work Indonesian entrepreneurs Ovy Sabrina and Novita Tan have made a meaningful mark with their firm Rebricks, which transforms plastic detritus into construction material

BY BILL CHARLES

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MUCH OF INDONESIA’S PLASTIC WASTE ENDS UP ON THE COUNTRY’S BEACHES

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To solve the sustainability problem, we need systemic change. Every aspect of the population—the government, the private sector, and the people— needs to work together to solve it

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ike many countries, Indonesia struggles to process the vast amounts of plastic waste it generates. But as an archipelago nation, comprising thousands of islands spread across an enormous geographic area, the problem is even more challenging to solve. It’s also more urgent since few of the islands are equipped to dispose of, let alone recycle, non-valuable plastic waste. The lack of technology and infrastructure means that much of this trash ends up in landfills or, worse, in the surrounding waters and environment.

Enter Ovy Sabrina and Novita Tan, two young female entrepreneurs who wondered how they could turn the tide and help tackle the country’s mounting waste crisis.

Friends since university, the two had grown increasingly concerned about the legacy of waste that future generations would inherit.

The motivation was personal for Novita, the CEO, who was pregnant at the time.

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VENTURES SUCH AS REBRICKS CAN HELP PRESERVE INDONESIA’S PRISTINE NATURAL ENVIRONMENTS

Ovy’s family ran a concrete factory in Jakarta and in 2018 the two embarked on research and development to see if it was possible to transform plastic waste into construction materials. They ultimately discovered a formula for pavement blocks that met Indonesia’s national standards for pressure power and other metrics—and the Rebricks brand was born.

Initially, Ovy and Novita personally collected the waste they used, including discarded coffee sachets and other plastics, from street food vendors around the city. When they unveiled their first product, they also launched a social media campaign, urging people to send their non-valuable plastic waste to them. The response was overwhelming: Individuals were not only willing to contribute but they covered the shipping costs themselves. The enthusiasm and support greatly exceeded the duo’s expectations.

Today, the company has established drop-off points around Jakarta and collects up to 60 kilograms of plastic waste per day. Supplies pour in from all over and mountains of plastic have accumulated at their workshop, where the plastic is shredded and blended with other materials to create a range 76

of products, including pavement blocks, hollow blocks, and ventilation blocks.

Together, the friends have built a self-sustaining green business that is reshaping the way people in Indonesia view and utilise plastic. As Ovy and Novita look to expand the business and diversify their product line, they also hope to inspire others to join the zero-waste movement.

We recently caught up with Ovy, Rebricks’ chief operational officer, to discuss the company’s latest projects and expansion plans, the unique challenges Indonesia faces, and reasons to be optimistic about the future.

Who typically uses your construction materials?

In the beginning, the majority of our customers were direct users, like homeowners. But after that, architects started to approach us and wanted to use our products. And these days, we work with bigger companies that have also become our recycling partners. They give us their waste and then buy back our products to build parking lots and that kind of stuff.

We’ve also been working with Habitat for Humanity for the past five months and have built around 17 homes for people in need. These houses are a collaboration where all the recycled construction materials are from us. And we also work with developers, but mainly smaller ones at this point.

And we work with a restaurant chain, Hoka Hoka Bento, and have become their recycling partner as well. They are using our blocks in most of their restaurants in Indonesia.

How do your costs compare to traditional materials?

Actually, from the get-go, we thought about the business aspect of our products, so we are quite competitive compared to traditional construction materials. The range in price is big, especially in Indonesia, because the government doesn’t have strict rules for measuring or checking every supplier. We can only compare our products with those of companies that we know are responsible. Compared to them, our price is in the range. And the pressure power of our products also fits squarely within the industry range. We are not aiming for a niche market. We want to penetrate the normal market. That was our vision from the start.

Do you know how much total plastic waste you’ve recycled?

So far, we have recycled around 20 to 21 tons of nonvaluable plastic waste. But considering that the waste we recycle has no solution, there’s a direct impact. That means we have stopped that amount of plastic from ending up in the landfill. Twenty-one tons translate into around 10,500 square metres of pavement blocks. Of course, our products are not all pavement blocks—there are also hollow blocks— but it gives you an idea.

Indonesia comprises thousands of islands, so it’s surrounded everywhere by water. What are the challenges of this unique geographic situation?

The cost of transporting waste between islands, whether for disposal or to be recycled, is very high. That’s an enormous challenge: How can we make the waste system here more sustainable? We are an island nation. To be honest, we need recycling factories on every island, but that costs a lot of money. And just sending one container full of waste 77

REBRICKS TRANSFORMS PLASTIC DETRITUS INTO CONSTRUCTION MATERIALS

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THE COMPANY’S SUSTAINABLE BRICKS ARE BEING USED IN BUILDINGS ACROSS THE ARCHIPELAGO

from one island to another to recycle non-valuable plastic is extremely expensive. Even if we educate people to sort their waste so it doesn’t end up in the ocean, where can it go? The government doesn’t have the facilities. Of course, they have the landfill. But they don’t have a facility to process waste for the whole island.

Have you thought about expanding your operations and opening another facility elsewhere?

Later this year, fingers crossed, we will have another facility in another city. And we are also trying to find a way to open a pilot project in other cities, like in Bali. To open a workshop in another city costs a lot of money because we need land. We need more than 1,000 square metres and the machinery and all the infrastructure costs a lot of money.

The second program we are developing is a new line, more toward interior stuff, like chairs, ashtrays, that kind of stuff.

Why? We think these kinds of products will be easier to replicate. But we’ll test the market first before we bring all of our machinery there.

You frequently speak at conferences and events to promote sustainability. What’s your message?

My message is always the same: Just start. Sometimes when people talk about zero-waste, they become very “perfectionist” about it. They see it as all or nothing. But in my opinion, start small and build up from there. If I’m talking to an entrepreneur or someone who wants to launch a startup in sustainability, I usually say, “Just do it.” When people create a business or a start-up, they sometimes think too much. Sometimes you just need to do it and you’ll find a way.

To solve the sustainability problem, we need systemic change. Every aspect of the population—the government, the private sector, and the people—needs to solve it. But I’m optimistic. We’ve started to see people launching environmental awareness campaigns and becoming zerowaste influencers. In the past three years, it’s gone from not being a big issue to suddenly everyone is aware of the importance of living more sustainably.

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CRUISING TO THE PINNACLE Building sustainable communities for a better future, SMDC takes high-end development to greater, more resilient heights

It is not difficult to see why the Bay Area continues to be in demand among discerning home buyers in the Philippines. With its alluring sunsets, central location, and vibrant energy, the Bay Area, which consists of large, master-planned developments including the SM Mall of Asia (MOA) Complex, Aseana City, and the Entertainment City, will likely account for a sizable amount of new residential supply in Metro Manila this year.

Opulent properties in this part of the Philippine capital are highly coveted, attracting those seeking homes that combine breathtaking views with world-class lifestyle offerings.

The award-winning development Sail Residences lies in the heart of this dynamic neighbourhood. A project by

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the acclaimed Filipino developer SM Development Corporation (SMDC), Sail Residences represents the pinnacle of world-class, sustainable luxury development.

Condo Architectural Design and Best Landscape Architectural Design titles at the PropertyGuru Philippines Property Awards.

Sail Residences is strategically located in the MOA Complex, home to one of the world’s biggest shopping malls, and is one of Metro Manila’s fastestgrowing economic corridors. As such, Sail Residences ensures unparalleled connectivity and easy access, with the Ninoy Aquino International Airport (NAIA) and the Parañaque Integrated Terminal Exchange only minutes away from the property.

As its name suggests, the design of Sail Residences takes inspiration from mega-luxury cruise ships. The seaside development is designed with glass balconies and viewing platforms that overlook Manila Bay and the bustling shopping, leisure, and entertainment district. As the sun sets over the bay, residents are treated to the tranquility of Manila’s most iconic bay and the oasis-like ambiance of the resortinspired amenity area.

Sail Residences stands as a testament to impeccable design. Recognised for its excellence, the master-planned development has won the Best

Hues of shimmery gold, taking a cue from the sun’s reflection on the waters, can be seen all around the naval lighting, wall cladding, and ceiling

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accessible to homeowners of today and for those who will follow.

SMDC is among the pioneering Filipino developers to understand that sustainable development is crucial in today’s world. In view of the adverse impacts of climate change, responsible real estate development will be key to disaster resiliency for generations to come.

design. The lobby alone is decked with nautical sculptures and artworks reminiscent of sailboats.

Residents can revel in the beauty of lush gardens, a sailboat-inspired fountain, tree court, and playgrounds.

The central clubhouse, overlooking the amenity area, invites residents to unwind and rejuvenate in a serene environment.

SMDC’s commitment to sustainable development is embedded at the core of Sail Residences. The company believes in measuring up to all three pillars of sustainability: economic, environmental, and social.

SMDC focuses on creating value for its stakeholders, especially the residents, by offering them an upgraded lifestyle choice that allows them to live, work, and play in the company’s residential developments. Apart from

this holistic approach, SMDC helps Filipinos achieve their dream homes and provide green spaces that promote productivity and well-being.

Indeed, Sail Residences not only provides a premium quality of life, but also sets new benchmarks for sustainable living. SMDC’s commitment to minimising environmental impact is evident in every aspect of the development — from site selection and design considerations, to the reduction of construction materials wastage and mechanisms for water efficiency.

By incorporating energy-efficient fixtures, maximising air flow, and utilising natural lighting, Sail Residences reduces energy consumption and creates a greener future. These efforts all go together in the pursuit of truly sustainable design — making Sail Residences more

SMDC’s projects meet standards in terms of resilience and minimising environmental impact. By disasterproofing its buildings, SMDC helps safeguard its communities against extreme weather events.

With its prominent, secure location, Sail Residences encourages walkability among its residents. From Michelin-star restaurants to luxurious hotels and premier entertainment destinations, residents have the unparalleled convenience of worldclass offerings just steps away within the MOA Complex. A signature feature to SMDC developments, Sail Residences will seamlessly integrate a commercial strip within the development itself.

Like the cruise ships that inspire it, Sail Residences is ready to journey into new frontiers of an unparalleled lifestyle of convenience. By setting new standards for the future, developments like that of SMDC’s transcend ordinary living and provide an unparalleled lifestyle where every moment is a celebration of life.

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© Mark Bowers Photography

Shaping our cities Arup’s work in sustainable planning has seen it collaborate on major urban projects worldwide, notably Nusantara, the future capital of Indonesia

BY LIAM ARAN BARNES

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n the jungle-clad east coast of Borneo, a grand vision is taking shape—an ambitious endeavour that promises to reshape a nation and redefine the future for millions of people.

As cranes tower over the vast expanse of land and ambitious blueprints come to life, the birth of Nusantara, the future capital of Indonesia in East Kalimantan province, represents more than just bricks and mortar—it symbolises a transformative chapter in the evolution of cities.

Billed as an eco-friendly response to Jakarta’s sinking fate, the new administrative hub aims to go beyond simply saving the existing capital’s residents from the sea. According to President Joko ‘Jokowi’ Widodo, whose administration officially unveiled the planned city in 2019, Nusantara will be a green metropolis run on renewable energy, offering respite from congested traffic where denizens can stroll and cycle through lush urban areas. Stakeholders have already dubbed the new capital a paradigm for adapting to a warming planet.

One of those responsible for the city’s potential success is Chintan Raveshia. As Cities Business Leader for Arup, a multinational professional services firm dedicated to sustainable development, he has cut his teeth working on some of the world’s most high-profile mixeduse projects, smart cities, transport and tourism strategies, urban regenerations, and transit-oriented developments. But the “most humbling moment” of Raveshia’s career to date is his role in the conceptualisation of Indonesia’s new capital.

“We started stakeholder consultations with more than a hundred ministerial attendees in one big room, working on the future of a brand-new city,” he says. “One that is going to be planned and designed in a climate emergency era, and that has to look, feel, breathe, operate, and behave differently to any city we’ve ever lived in before.”

Arup collaborated with global management consultancy McKinsey & Company to assist the Indonesia Planning Agency in conducting a comprehensive study on economic and development planning. In addition to handling integrated city planning and design, Arup facilitated workshops that involved high-ranking officials from various national ministries.

They also engaged with community conservation groups, as well as provincial and local government entities and NGOs, to gather input on significant opportunities and limitations.

“Guided by the United Nations Sustainable Development Goals, we’ve shaped design across city systems from transport to water, waste, energy, social infrastructure, and green spaces, considering what individuals might need as well as the city as an organic whole,” Raveshia adds.

The architect and urban planner whose professional path has taken him from India to Singapore via the UK, Italy, and China—with master’s programmes at the prestigious MIT and Imperial College Business School thrown in for good measure—joined Arup in 2006.

Raveshia’s first major project was heading up the development of the Dongtan eco-city on the island of Chongming in Shanghai.

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CHINTAN RAVESHIA OF ARUP IS HELPING THE FIRM SHAPE THE FUTURE OF CITIES AROUND THE REGION

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As an industry, we need to figure out how to disclose the amount of carbon in a project and figure out how to measure the genuine impact of what we’re doing. By joining forces to create large, comparable, and open datasets, the global property sector and its value chain can begin to scale net-zero buildings Dongtan was showcased at the United Nations World Urban Forum as the world’s first purpose-built eco-city, aiming for integrated sustainable urban planning and design to achieve near-carbon-neutral status within economic limitations. Although it faced multiple setbacks and was eventually shelved, Dongtan’s design continues to inspire and influence the development of eco-cities worldwide.

launch of the firm’s whole-life carbon emissions (WLC) database. Calculating emissions for almost 1,000 projects across 30 nations and five continents, the data has allowed the firm to estimate its ‘carbon handprint’, quantifying the scale of emissions arising from its global building design project portfolio as approximately 350 times greater than Arup’s organisational carbon footprint.

“Properly designing cities is crucial for achieving sustainability goals,” Raveshia explains. “With 1 billion people in Southeast Asia seeking new homes, the region is expected to see 10 more megacities by 2030.

Arup aims to use WLC to accelerate the decarbonisation of its building design work and pursue the goals of the UN High-Level Climate Champions’ 2030 Breakthrough Outcome for the Built Environment, which calls for all new and refurbished buildings to be net zero in operation and to achieve at least a 40% reduction in embodied carbon by 2030. Raveshia is now calling on other actors across the global property, construction, and building design sectors to work together to establish open and comparable WLC datasets.

“If we do not think about cities in the right way right now, then we can forget about meeting our 2030 targets of peaking carbon emissions, or 2050 targets of net zero or continuing to go climatepositive beyond that date.”

Raveshia’s role extends beyond creating ecocities from scratch. He recently collaborated on the Singapore government’s ‘Food Masterplan for Singapore,’ a part of the Smart Urban Habitat Masterplan. With the global pandemic thrusting food security into the spotlight, Arup’s Singapore team explored ways to improve food resilience in cities, using Singapore as a testing ground for the Masterplan.

The study revealed that adopting circular design principles across energy, water, waste, industry, and employment systems is crucial for achieving longterm urban food security. As a result, Singapore has set a target to produce 30% of its food locally by 2030. According to Raveshia, the results outlined in The Urban Food Production Masterplan Framework provide a world-first piece of research that maps Singapore’s current food ecosystem and explores future scenarios to reach the ‘30 by 30’ goal.

Another significant achievement of late that could prove to be a game-changer not just for Arup but the wider real estate sector and construction is the

“We as an industry need to figure out how to disclose the amount of carbon in a project and figure out how to measure the genuine impact of what we’re doing,” he says. “By joining forces to create large, comparable, and open datasets, the global property sector and its value chain can begin to scale net-zero buildings.”

Ultimately, though, Raveshia’s hopes for sustainable cities of the future hinge on passing the green baton to the next generation.

“Everyone in city planning and design should be influenced by something similar, because what we’re doing essentially is thinking about who is going to live in the cities that we build in the future,” he says.

“The answer is the generation of young people being resolutely vocal about it right now, in a way that my generation wasn’t.

“Every decision that we make, from what food we eat, what clothes we choose to wear, and where all these things come from, are questions that people are asking more and more.”

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© Paul Simpson Photography

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Copenhagen Metro | Cityringen The new City Circle Line (Cityringen) metro expands Copenhagen’s existing system and is integral to the Danish capital’s drive to become carbon-neutral by 2025.

Metroselskabet, Copenhagen’s transit authority, appointed Arup in a joint venture with Cowi and Systra to act as the multi-disciplinary technical advisor for this ambitious project, the city’s largest construction project in more than 400 years.

According to Raveshia, the new line seeks to encourage more residents out of their cars and onto a more environmentally friendly mass transit network. “The intuitive minimalism, inspired by the Scandinavian design tradition, has led to spacious, light-filled stations with distinctive internal façades and materials that echo the local spirit of the areas they connect to.”

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© Alan Cheng Photography

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© Evangeline Lee Yuk Ching Photography

Water Cube | National Aquatics Centre The National Aquatics Centre, also known as the ‘Water Cube’, was one of the most dramatic sporting venues constructed for the 2008 Beijing Olympic Games. Featuring bubble-like walls, the venue housed five swimming pools, including a wave machine and rides, along with a restaurant and seating and facilities for 17,000 spectators.

Raveshia explains that the architectural design of the building draws inspiration from the organic formation of soap bubbles. The choice of ethyl tetrafluoroethylene for the façade meanwhile was prioritised, as it weighs only 1% of glass and offers greater thermal insulation. This material also allows the structure to trap approximately 20% of solar energy, utilised for heating purposes. He adds that “the ample daylight entering the cube significantly reduces the need for artificial lighting in the leisure pool hall, resulting in savings of up to 55% on lighting energy.”

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Quay Quarter Tower Quay Quarter Tower in Sydney’s Circular Quay is a landmark in sustainable building, according to Raveshia. Originally built in 1976, the former AMP Centre was recently reimagined as a mixed-use development that showcases a unique blend of work, retail, and social experiences within a striking glass and metallic facade.

“While the tower’s excellence is evident to the naked eye, many hidden engineering gems are inside and outside the building, setting a new standard for sustainable building design,” he says.

Raveshia adds that the adaptive, retrofit design retained 65% of the original building’s existing floorplates and structure and 98% of the original structural walls and core, equating to a saving of approximately 12,000 tonnes of embodied carbon.

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© John Marcel Lam Photography

© John Nye Ching Photography

© John Marcel Lam Photography

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Mactan-Cebu International Airport As the second largest airport in the Philippines, Mactan-Cebu International Airport is undergoing a much-needed transformation to handle the significant growth in passenger traffic over recent years. Arup provided multidisciplinary services including aviation planning, airfield engineering design, and transport planning, as well as bridges, civil, electrical, façade, fire, highways, mechanical, and structural engineering.

“The undulations of the iconic roof are reminiscent of the waves around Mactan Island,” Raveshia says. “Taking a cue from the vernacular architecture of the tropics, the tall roof with low eaves to the east and west elevations is a direct response to the local climate to protect and control the internal environment through a careful balance between allowing natural light to enter whilst simultaneously blocking excessive heat.”

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Jurong Lake District Jurong Lake District, located in the western part of Singapore, is a crucial area for growth and development, strategically planned by the Urban Redevelopment Authority (URA) to generate new commercial activities, amenities, and recreational facilities beyond central Singapore. Arup’s involvement in the masterplan spans a range of disciplines, including transport planning, civil engineering, infrastructure masterplanning, underground space planning, sustainability consulting, economic analysis, and water-sensitive urban design.

“Drawing on our extensive experience in delivering sustainable and resilient communities, we are committed to realising the district’s vision of innovative interconnected precincts supported by sustainable urban infrastructure, creating an inclusive community characterised by lush greenery and vibrant public spaces,” Raveshia states.

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Westralia Square 2 (WS2) Westralia Square 2 (WS2) is a timber-hybrid office tower in Perth’s CBD. Arup will occupy approximately 2,600 square metres over three levels of the innovative premium-grade 12-storey, office tower, Perth’s first timber-hybrid office building, which sets a new benchmark in environmental standards and carbon savings for building construction.

A breakthrough collaboration between Arup and GDI saw Arup identify the innovative, structural form as the best and most sustainable solution for the property owner and fund manager’s bold vision, achieving maximum use from the constrained site while at the same time accelerating decarbonisation.

The adaptive reuse approach and use of engineering capitalised on existing structures and renewable materials to have an effective embodied carbon reduction of circa 85% compared to the construction of an equivalent contemporary reinforced concrete building.

This has resulted in a potential reduction of approximately 7 million tonnes of CO2 gas emissions. This is a step change in strategic CO2 management where the focus on carbon saving has been placed on embodied carbon, the far more difficult component of the carbon cycle to solve.

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ADVERTORIAL

WORRY-FREE HOME A new, award-winning development offers excellent connectivity, well-thought-out design, and lucrative gains, all in the heart of Bangkok Reference Sathorn – Wongwianyai is just one of multiple award-winning projects by SC Asset. Besting some of the kingdom’s finest companies, SC Asset won the title of Best Developer at the 17th PropertyGuru Thailand Property Awards in 2022.

Reference Sathorn – Wongwianyai comprises meticulously crafted residences that offer the perfect balance of comfort, convenience, and flexibility. Designed to cater to the discerning tastes of Gen Y professionals, as well as middleto top-management executives and successful business owners, SC Asset’s condominiums are poised to elevate one’s lifestyle to new heights.

The vibrant central business district of Sathorn-Silom is a coveted place to make home in Bangkok.

With its many offices, myriad, shopping centres, and array of trendy dining and entertainment options, the Sathorn-Silom area is an unparalleled location for residents in the Thai capital. Some of Southeast Asia’s best rapid transit systems also serve the area, making commuting a breeze and opening endless possibilities for work and leisure.

Many of SC Asset’s residential developments are strategically located near Bangkok’s bustling CBDs and transit lines. The renowned Thai developer’s latest project, Reference Sathorn – Wongwianyai, boasts close proximity to the BTS SkyTrain, one of the fastest ways of getting around the metropolis. Set in the vibrant Sathorn-Silom area, Reference Sathorn – Wongwianyai ensures seamless connectivity with a prime location just 130 metres away from the Wongwianyai station of the BTS SkyTrain.

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The project is one in a long line of projects since 1999 that have pushed SC Asset towards becoming the top living solutions provider in Thailand. Today, SC Asset is building “worry-free homes,” creating sustainable growth by using flexibility and resilience strategies to cope with uncertain situations such as the pandemic.

SC Asset understands the evolving needs and preferences of the modern generation. Each condominium unit has been thoughtfully designed to maximise space, functionality, and aesthetics. The units follow the flexible furniture concept, allowing residents to personalise their living spaces and adapting them to suit their unique lifestyle and preferences. Whether it’s a dedicated home office, cosy reading nook, or spacious entertainment area that one needs, SC Asset’s condominiums provide the freedom to create the perfect tailored living environment.

Beyond their units, residents can indulge in a cosmic body of luxurious amenities that redefine urban living. A podium garden features a covered walkway that connects the two towers, dividing the space into Crescent Pavilion, defined as

ADVERTORIAL

the serene and passive zone, and Play Yard, the active zone. At the rooftop, the Grotto Pool gives residents a unique experiential journey and a pleasant retreat after a long day. With an interior design conceived around The Moon, circular forms and shapes are ubiquitous in the major facilities space.

In addition to luxe living spaces and top-notch amenities, SC Asset places great emphasis on fostering a strong sense of community. These condominiums offer an opportunity to connect and engage with like-minded individuals through various community spaces and events. A resident can enjoy a vibrant social life and build lasting relationships within the comfort of one’s own home. Additionally, the condominium’s proximity to the Sathorn-Silom area ensures access to a thriving business network and endless professional opportunities.

Reference Sathorn – Wongwianyai not only offers an exceptional living experience but also presents a lucrative investment opportunity. The Sathorn-Silom area has long been regarded as a prime real estate location with

consistently appreciating property values. Investing in one of SC Asset’s condominiums allows homeowners to benefit from the potential capital appreciation and rental income, making it a smart financial decision for the future.

SC Asset is always looking to the future with its projects.

One of its latest innovations, RueJai Home OS, endows residential units with a “brain,” letting residents control aspects of their homes via smartphones or computers.

Such home automation features lead to energy savings and improved air quality.

Envisioning a sustainable future, SC Asset follows energy-efficient design and layouts, green procurement, EIA-adherent construction, and ample green spaces and communal areas in residential development.

With their brilliant location, upscale amenities, and attractive investment potential, SC Asset’s condominiums indeed epitomise modern urban living in Thailand. The smart choice is embracing the luxurious, convenient living experience offered by SC Asset homes.

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Fresh in the Big Mango

BY JONATHAN EVANS

Handily located, but with plenty of leisure attractions and green space, Ramindra is one of Bangkok’s hottest emerging ‘hoods

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Providence Lane Ekkamai-Ramintra by Sammakorn Plus Company Limited

Grand Britania Wongwaen Ramintra by Britania Public Company Limited

Greyhound Café

Aimed at young, successful homebuyers, this luxury 12-unit residence completed earlier this year is all about über-stylish design touches, with the interiors in particular exuding that coveted “wow” factor. Providence Lane aims for an artistic synthesis of outdoor and indoor architectural prowess, with a focus on both craftsmanship and functionality.

Landscape design by the local Sanitas Studio Company is equally important, with each house conceived as having a small garden within a larger courtyard. Guest bedrooms (each house contains three or four bedrooms across three floors) are adaptable spaces that can either be used as storage or contain a king-sized bed.

Scheduled for completion by the end of 2024, this villa-style development courts an upmarket clientele for its aesthetic that brings to mind the grand public edifices of the Beaux Arts period. Grand Britania’s elegant building style combines such European-derived architectural tropes with landscape design from the 1819 Company, evoking classic English gardens (including a pavilion and fountains), and shaded areas such as porticos that help mitigate the heat.

Within the complex, leisure options include a basketball court, clubhouse, games room, and an eye-catching swimming pool. In the two-storey villas, meanwhile, the interiors’ streamlined simplicity—full of light shades of blue, brown, and cream—contrasts with the grandeur outside, with the overall effect emphasising spaciousness above all.

Greyhound Café started as a spinoff from a fashion line and has been a remarkable success story not just in Asia—where after launching in Bangkok in 1997 it spread to China, Hong Kong, Singapore, Malaysia, and Indonesia—but also in London where it has opened in the Fitzrovia district.

One of its many Big Mango outposts is at The Promenade mall, where it serves its familiar international flavours in the brand’s dramatically designed monochrome surroundings. The extensive all-day brunch menu caters to all tastes, with salads, appetisers, burgers, pasta, noodles, and European fusion and vegetarian food all making an appearance. More eye-opening menu items include spicy salmon sashimi, fried squid eggs with Thai spicy sauce, beef shank with chocolate melt stew, and fried noodles with eggs, tofu, and gravy.

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One of the most buzzed-about subdistricts in east-central Bangkok, Ramindra is now considered one of the Big Mango’s prime residential locations. Its attributes include favourable air quality away from industrial zones, shopping, a lively restaurant scene, and proximity to transport links. The quality of family life here is further augmented by an abundance of green spaces including several golf courses, urban parks, and theme parks including Siam Amazing Park, Seri Thai Garden, and Safari World. It’s little surprise that developers now covet this highly liveable area for key condominium projects, which are scooping awards and attracting residents.

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Siam Amazing Park

Fashion Island

Seri Thai Garden

Southeast Asia’s largest water park first opened way back in 1980 but is now just one component of the six-zone, 118-acre Siam Amazing Park (formerly Suansiam).

The most pulse-racing rides are collected at Extreme World, such as the Vortex spiral rollercoaster; Adventure World has a dinosaur theme and other hair-raising amusements. Visitors of all ages can enjoy Family World’s simulation of the African jungle, while Si-Am Tower is one of the region’s highest observation decks. Small World scales things down with activities such as rides on miniature motorbikes, and Bangkok World recreates the city’s old landmarks while selling products from around the country. The Water Park secured a place in Guinness World Records for its wave pool, certified as the world’s largest in 2009.

In a city spilling over with gargantuan retail complexes, Fashion Island is one of the world’s 30 largest malls, with around 600 stores occupying 3.5 million square metres.

Experience the epitome of fashion as you browse through an extensive collection of stores, showcasing a harmonious blend of international brands and local designers. From trendy apparel to exquisite accessories and footwear, Fashion Island presents a diverse range of options to cater to your style. Delight in discovering the latest fashion trends, timeless classics, and unique pieces that will elevate your wardrobe. Fashion Island is more than just a shopping destination—it’s a sanctuary where you can embrace relaxation and rejuvenation. Take a leisurely break at charming cafés, or indulge in a culinary journey at a selection of trendy restaurants, offering a tantalising array of global cuisines.

Formerly known as Bueng Kum Water Park, Seri Thai Garden underwent restoration in the mid-1980s following King Bhumibol Adulyadej’s initiative to create a floodcontrol reservoir for Bangkok, and was later expanded into a larger public park and reopened in 1997. In the middle of the pond, there is a large fountain and a manmade island, as well as pavilions for relaxation. Several species of Thai and foreign palm trees flourish here, including the rare Carpentaria and Bismarckia palms, and perennials such as banyans, flame trees, and cassod trees. There are also fruit trees like pomelo, santol, custard apple, and jackfruit. Seri Thai Memorial Building, with its two small museums carrying memorabilia from the park’s early days, marks a focal point in this serene urban idyll.

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WHAT’S OLD IS NEW

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Planners, designers, and developers around Asia are looking to the region’s past for inspiration as they attempt to reduce harmful carbon emissions

BY LIAM ARAN BARNES

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You can distil the lessons of a past culture to design for the present, and then you can disseminate that for future generations. Ultimately, some of the best design ideas have already been done

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ee Kuan Yew was once asked what was behind Singapore’s breakneck development and economic success in the second half of the 20th century. The citystate’s founding father responded simply: “Air-conditioning”.

One of his first acts upon becoming prime minister in 1959 was to equip all civil service buildings with air-conditioners (AC). According to Lee, it was one of “the signal inventions of history. It changed the nature of civilisation by making development possible in the tropics.”

Not only did its introduction transform how people in the tropics worked; it changed how— and where—they lived.

For centuries, buildings in Asia were designed to adapt to and manipulate the local climate. Deep overhanging roofs, for instance, provided shade and rainwater runoff, while high ceilings and tall windows enhanced air circulation. Louvred windows and adjustable shutters regulated light. Airflow and the use of natural materials like bamboo and timber, meanwhile, maintained cool interior temperatures.

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MUMBAI’S AUTHORITIES UNVEILED PLANS LAST YEAR TO ACHIEVE CARBON NEUTRALITY BY 2050, POSITIONING THE CITY TWO DECADES AHEAD OF INDIA’S NATIONAL GOAL

But the widespread availability of air-conditioning and advancements in construction technology, coupled with the affordability of materials like reinforced concrete and steel frames, rendered these age-old practices virtually obsolete.

Indeed, it is now difficult to imagine a home, office, shopping mall, or public transport system in Asia’s cosmopolitan areas without controlled temperatures.

And yet the use of AC units significantly contributes to greenhouse gas emissions. According to the US-based National Renewable Energy Laboratory, AC systems account for approximately 1,950 million tonnes of carbon dioxide released annually, representing nearly 4% of global greenhouse gas emissions. Moreover, the International Energy Agency estimates that the buildings and construction sector consumes 36% of global energy and is responsible for 39% of energy and process-related carbon dioxide emissions. Within the sector, manufacturing building materials such as steel, cement, and glass contribute to 11%

of emissions, while building operations account for the rest.

“Energy consumption makes up a significant portion of the operating cost in this region,” says Chris Marriott, chief executive at Savills Southeast Asia. “So measures to help such consumption will improve both the environment and help the bottom line. A good example would be airconditioning, which makes up around two-thirds of power used for buildings in Southeast Asia.”

It makes sense then why so many architects and urban planners in Asia are turning back the clocks in search of an antidote to the destruction wrought by contemporary construction methods. One of the region’s highest-profile advocates of passive design is Jason Pomeroy. The British, Singapore-based architect blends a deep understanding of local culture, cutting-edge green technology, and traditional building techniques to reduce carbon emissions in his designs.

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“You can distil the lessons of a past culture to design for the present and then you can disseminate that for future generations.

Ultimately, some of the best design ideas have already been done,” he says.

More than a decade ago, Pomeroy and his team launched Southeast Asia’s first zerocarbon prototype home, The Idea House, in Malaysia. Inspired by the country’s traditional kampung houses, the modular property is designed to optimise natural light and ventilation to generate sufficient energy to offset the occupants’ usage.

Pomeroy Studio went a step further when it unveiled Singapore’s first carbonnegative property. The B House, a standalone residence, also draws from the island’s design techniques associated with the island’s colonial black-and-white bungalows such as sweeping verandahs and shutters combined with green smart home technology, to produce more energy than it consumes.

“The concept revolves around reconnecting with nature,” Pomeroy explains. “It’s akin to Mr. and Mrs. Caveman sitting at the entrance of their cave. They discovered fire, allowing them to venture further inside to illuminate the space, keep warm, and cook. Throughout history, we have progressively retreated deeper into the cave.

“Now, it’s time to return to the entrance to embrace the outdoors and rediscover the fundamentals of natural light and ventilation to minimise our consumption.”

On a much grander scale, Mumbai’s authorities unveiled plans last year to achieve carbon neutrality by 2050, positioning the city two decades ahead of India’s national goal. This ambitious target makes Mumbai the first city in South Asia to set such a timeline, and its implementation is crucial for the city’s survival. A study conducted by the India Meteorological Society warns that if sea levels continue to rise at their current rate, nearly 40% of Mumbai could be submerged within the next 100 years.

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Practitioners are evaluating how to effectively implement similar plans in other major metropolises throughout Asia.

In 2021, C40 Cities, a global organisation comprising nearly 100 mayors from leading cities worldwide, joined forces with the local governments of Kuala Lumpur, Jakarta, and Quezon City. The Climate Action Implementation Programme, spanning from 2022 to 2025, aims to support these cities and their combined population of 15.5 million residents in becoming carbonneutral by 2050.

“Cities are on the frontlines of the climate crisis, and highly vulnerable to the impacts of climate change. They are also where solutions lie and transformative actions are taken,” Milag San Jose-Ballesteros, C40’s regional director for East and Southeast Asia, and Oceania, says in a statement.

Following its radical development program in the 20th century, the Singaporean government has implemented similarly bold initiatives to tackle the climate crisis. It currently tops Knight Frank’s APAC Sustainably Led Cities Index, which measures the reduction in per-person carbon use over time; initiatives focused on combating climate change, expanding green spaces, and increasing the number of greenrated commercial buildings; and the level of urbanisation and population growth.

And while the island state may currently be the epicentre of the fight against the climate crisis in Asia, numerous stakeholders within the region’s real estate industry are actively contributing to sustainability efforts. Design firms, urban planners, and sustainably driven developers are all playing their part in adapting Asia’s built environment to meet the urgent needs of tomorrow.

Here, we present a handful of some of the most sustainable projects currently under construction in Asia.

LIMA Estate

by Aboitiz InfraCapital Economic Estates

The expansive 800-hectare development in Batangas continues to make headlines. Not only is it the largest privately owned industrial estate in the country, but it has also recently achieved the distinction of being the first of its kind to receive a BERDE 5-Star Certification.

This reputable certification is highly regarded by the Philippine government and various national agencies, as it follows internationally recognised methodologies outlined in the Quality Assurance Guide for Green Building Rating Tools of the World Green Building Council.

The project boasts a raft of impressive sustainable initiatives, including a centralised wastewater treatment facility, rainwater harvesting, and recycling systems that promote efficient water usage. Aboitiz also prioritises renewable energy by utilising solar panels to generate clean electricity, reducing its carbon footprint and reliance on traditional energy sources. Dedicated waste segregation and recycling programs further contribute to the circular economy and landfill waste reduction.

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LOGOS Cikarang Logistics Park

by LOGOS Indonesia

A Green Mark Gold from Singapore’s Building and Construction Authority is often a sure sign that a developer is taking sustainability seriously, especially with a project on the scale of LOGOS Cikarang Logistics Park.

Situated in the Bekasi industrial area of Kota Deltamas, the 23-hectare logistics park boasts cutting-edge passive design features. These include cladding, insulation, and efficient lighting systems, carefully executed to optimise energy consumption. The orientation of the park, meanwhile, minimises direct west-facing facades and window openings, effectively reducing heat gain.

Natural ventilation is also carefully considered in indoor car parks, staircases, and corridors to enhance energy efficiency, while indoor air quality is optimised thanks to the use of low-VOC (volatile organic compound) paints, environmentally friendly adhesives, and high-frequency ballasts in fluorescent luminaries.

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In line with sustainable transport initiatives, the development features sheltered bicycle parking lots, complete with shower and changing facilities, encouraging employees to adopt eco-friendly commuting options and reduce their carbon footprint.

Sycamore

by CapitaLand Development (Vietnam)

CapitaLand has successfully tapped into the evolving needs of homeowners by addressing their desires for wellness, sanctuary, and security with its inaugural largescale residential project in Vietnam. Situated in Binh Duong New City, just 30 kilometres from Ho Chi Minh City, this 18.9-hectare development stands out for its impressive range of wellness-oriented facilities.

integration of smart technologies, such as intelligent building management systems to optimise energy usage and improve efficiency.

The array of nature-themed amenities includes an outdoor pool, alfresco fitness zones, community gardens, dedicated walk paths, and cycling trails. In addition to its resort-style conveniences, Sycamore has also garnered recognition for its eco-friendly approach to construction and design.

Embracing biophilic design principles, the project incorporates hydraulic features like bio-retention ponds, effectively managing stormwater runoff and fostering biodiversity.

Electric car charging stations, meanwhile, encourage the use of EVs while electric buggies are available for property management staff. Moreover, Sycamore prioritises the

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Pan Pacific Orchard

by UOL Group Limited

Pan Pacific Orchard exemplifies a strong commitment to sustainability through its thoughtful design and eco-friendly initiatives. Designed by WOHA, a renowned Singapore-based architecture firm known for its eco-conscious principles, the hotel embraces biophilic design in a showstopping style.

The property features four distinct terraced environments: Forest, Beach, Garden, and Cloud. Each environment is carefully designed to capture the essence of nature. Towering green columns rise through the terraces, showcasing an abundance of flourishing flora. Mirrored ceilings, meanwhile, reflect and enhance the beauty of each landscape, from the serene pools of the Beach Terrace to the meticulously maintained lawns of the Garden Terrace.

The incorporation of nature goes beyond aesthetics. Openair spaces throughout the hotel invite fresh breezes and natural light, creating a delightful alfresco experience for guests. The high-ceilinged, open-air lobby provides a peaceful oasis where guests can connect with nature while enjoying the hotel’s comforts.

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Backing up the impressive architecture, Pan Pacific Orchard recently achieved the BCA Green Mark Platinum certification for its myriad energy-saving features, including rainwater collection, solar panel technology, and a bio-digester system.

Yuexiu Financial Tower

by Guangzhou Yuexiu Commercial Real Estate Investment & Management Co., Ltd

Sustainability lies at the heart of Yuexiu Financial Tower’s design. This Grade-A office tower in Guangzhou showcases a ventilated double-glazed curtain wall system, enhancing thermal performance and reducing energy consumption. By integrating energy-efficient glass and implementing façade designs tailored to different orientations, the tower strikes a balance between efficiency and aesthetics.

Green Building O+M V4 in the same year. In 2020, it further solidified its sustainability credentials with the WELL Platinum precertification.

Standing at more than 300 metres with a floor space of 210,000 square meters, its sleek and elegant architecture sets it apart from conventional square box designs. Its slender form and dynamic broken lines, meanwhile, create a distinctive structure. The innovative origami shape not only adds to its visual allure but serves functional purposes.

Yuexiu Financial Tower’s dedication to sustainable practices has also earned it a slew of awards and certifications in recent years. In 2013, it received the 3-Stars Certification for China Green Building Label, followed by the Sustainable Building Index Verified Mark in 2018. The tower also achieved the prestigious LEED Platinum Certification for

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GOING SIDEWAYS Rising interest rates and housing affordability concerns weigh on Malaysia’s property market amidst a weaker growth outlook

BY AL GERARD DE LA CRUZ

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THE MALAYSIAN GOVERNMENT IS PRIORITISING INFRASTRUCTURE DEVELOPMENT, WITH A BUDGET OF USD20.43 BILLION ALLOCATED FOR THIS YEAR

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alaysia’s ascension to developed-nation status seemed surer than ever in 2022. The economy, predicted to become a high-income one by 2028, grew 8.7% year-on-year, a rate of expansion not seen since 2000.

The impressive rate of recovery was felt in the residential market, with the National Property Information Centre (NAPIC) recording 243,190 transactions worth MYR94.27 billion (USD20.3 billion), an annual increase of 22.3%. The long-maligned residential overhang also fell below 30,000 units for the first time in two years.

But this year marks the comedown from a post-pandemic high. By faults not entirely of Malaysia’s own—weak global growth, high risk aversion in financial markets, and geopolitical tensions, among others—economic expansion is expected to moderate to anywhere from 4% to 5% in 2023.

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“The residential prices are likely to move sideways as the price gap widens,” says Dr. Nai Jia Lee, head of real estate intelligence at property technology company PropertyGuru Group. “We are likely to see the transaction volume decreasing in response to uncertainty. Property seekers are likely to adopt a ‘wait-and-see’ attitude.”

Leading property marketplace PropertyGuru Malaysia saw its Sale Demand Index falling by 5.6% quarter-on-quarter in the first three months of 2023. It was the third consecutive quarter of declines as buyers resisted high asking prices.

Developers and sellers, under pressure themselves from increased costs of living and construction, are not budging.

Asking prices on the site in fact rose 1.6% quarter-on-quarter, marking the fifth quarter of increases in a row. As sellers held fast to their prices, the number of available listings online decreased by 0.6%.

ROADS TO RECOVERY Amid slow global growth, the Malaysian economy has buoys in the form of significant infrastructure projects and an increase in tourist arrivals.

The recovery of the tourism sector, along with electrical and electronic exports, is set to offset the slowdown. For 2023, tourism authorities are targeting 16.1 million international visitor arrivals. While underwhelming compared to the 26.1 million international visitors in 2019, the number bests the 10.1 million arrivals recorded in 2022.

Dr. Nai Jia Lee, head of real estate intelligence at property technology company PropertyGuru Group, advises foreign investors to consider locations preferred by local property seekers. “Buying a property that only foreigners can afford is not ideal.

Strong local demand is also an indicator of strong economic fundamentals in the area.”

The Malaysian government is also prioritising infrastructure development, with a budget of USD20.43 billion allocated for this year. This funding will support 7,615 projects, marking a 25.7% increase from 2022. Approximately MYR2.7 billion will be spent on maintaining and upgrading federal roads alone.

“The biggest challenge faced by property seekers is the rising interest rate, which raises the costs of home purchase.

This is especially so, given that asking prices remain high,” says Lee. “The other challenge is the uncertain economic outlook.”

Bank Negara Malaysia increased in May the Overnight Policy Rate (OPR) by 25 basis points to 3%. The rate hike, the latest in a series of tightening measures since May 2022, marks the end of an era.

Several infrastructure projects, including Phase 1b of the Pan Borneo Sabah Highway, have already unlocked values in locations far from Klang Valley.

“We are seeing more local seekers looking at cheaper locations that are farther or away from usual hotspots,” says Lee. “I would say that property seekers should also check the possibility of floods, which always translates to higher costs.”

At the height of the pandemic in 2020, the benchmark interest rate crashed to 1.75%, the lowest in history. Then war in Europe began, succeeded by the reopening of the Malaysian economy, pricking pent-up demand. By the third quarter of 2022, headline inflation hit 4.5%, and home buyers saw their purchasing power greatly diminished.

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We are likely to see the transaction volume decreasing in response to uncertainty. Property seekers are likely to adopt a ‘wait-and-see’ attitude

The central bank’s Monetary Policy Committee justifies the latest hike as core inflation hovers at elevated levels.

“It is important to bear in mind that the OPR did not go below 3% for as long as about nine years, from 2011 to 2019,” says Tan Hui Yin, partner with Tan Chap & Associates.

“Taking into consideration that the highest OPR increase on record is 3.5%, it seems like the current rate may not be the lowest.

But it would still be considerably decent for those who wish to purchase a house at the moment.”

The Bottom 40% (B40) and the Middle 40% (M40) income groups are expected to absorb the shock first. “The increase in OPR will take a cut from their monthly disposable income,” Tan says. “It is inevitable that the increase may result in a slower growth in the property market in the short run.”

The B40 group, whose monthly household incomes are less than MYR4,850, comprised 2.91 million households before the pandemic.

In 2020, 20% of households from the higher-income M40 group regressed to B40 while 12.8% of Top 20% (T20) households, the most affluent segment of society, joined the M40 group, according to early official estimates.

“An oversupply of properties in the highend segment and a shortage of affordable properties seem to be a reflection of the distribution of income groups in Malaysia,” says Tan. “Collective effort is required to overcome the overhang. It is unlikely that there will be a single policy that is capable of overcoming this long overdue issue in our country.”

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Upmarket properties or those priced above MYR1 million only accounted for 13.6% of the overhang in 2022, according to NAPIC. At MYR7.5 billion, however, these units represented around 40.7% of the total overhang value.

The overhang in 2022 was worth MYR18.4 billion, equivalent to 27,746 units.

“Malaysia’s real estate market is facing a conundrum,” says Lee. “On the one hand, housing affordability is a problem amid higher cost of living and prices. On the other hand, there is an oversupply of private homes. The conundrum, interestingly, links back to traffic congestion.”

Policies to reduce congestion—integrating developments with transit systems, that is—will be key to resolving the conundrum, he adds. “Providing high-quality housing for low-income earners, near employment clusters or nodes that offer reliable public transport, will be key.”

Strong labour market conditions, highlighted by the decline of the unemployment rate to 3.5% this year so far, have propped up domestic demand since the economy reopened. “While the downside risks are visible at the global level, Malaysia is expected to continue to experience positive economic growth due to improvements in domestic consumption and higher tourism arrivals,” says Lee. The loosening of China’s borders is especially crucial to Malaysia as its manufacturing competitiveness develops. Mainland China remains Malaysia’s largest export market and a top source market for tourists.

THE LOOSENING OF CHINA’S BORDERS IS ESPECIALLY CRUCIAL TO MALAYSIA AS ITS MANUFACTURING COMPETITIVENESS DEVELOPS

ALL ABOUT OIL A member of OPEC+ (Organisation of the Petroleum Exporting Countries and allies), Malaysia benefited from rising world commodity prices due to warring Europe.

Strong exports of oil and gas led to a 68% annual increase in Malaysia’s mining exports last year, according to financial services firm S&P Global research. Malaysia, being a major palm oil producer, generated high fiscal revenues from rising petroleum and energy prices, especially with disruptions in sunflower oil exports caused by the Russia-Ukraine War.

Ironically, Malaysia had to implement subsidies and cash aids amounting to MYR77.3 billion, the largest in the nation’s history, to control inflationary pressures and mitigate the cost of living in 2022.

This amount exceeded the MYR33 billion spent in 2021 and included MYR51 billion allocated for subsidies on fuel as well as electricity and food.

These subsidies and price controls helped keep the inflation rate at a manageable level in 2022.

While some Western nations faced double-digit increases in consumer prices, Malaysia ended the year with an inflation rate of 3.3%, higher than in 2021 but still one of the lowest in Southeast Asia.

Oil prices are expected to remain high this year after OPEC+ agreed in April to supply cuts of up to 3.66 million barrels per day, equivalent to 3.7% of global demand for 2023.

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FOR 2023, TOURISM AUTHORITIES ARE TARGETING 16.1 MILLION INTERNATIONAL VISITOR ARRIVALS, A FIGURE THAT WILL BRING A BOOST TO THE ECONOMY

Exports of electrical and electronic products from Malaysia soared by 30% in 2022, according to research by financial services firm S&P Global. Multinationals such as Intel and Infineon Technologies are completing giant industrial developments in the peninsula by 2024.

“The industrial real estate segment still has a lot of potential and provides a lot of opportunities in light of the digitalisation and transformation of Industry 4.0,” says Tan. “However, we must also bear in mind the possible market uncertainties stemming from geopolitical tensions when assessing risks of investments.”

Job creation for the rakyat is one thing for politicians, housing another. Under the 12th Malaysia Plan, the government is committed to building 500,000 affordable housing units by 2025.

To achieve this, the National Housing Policy is being reviewed to comply with Prime Minister Anwar Ibrahim’s new-fangled slogan Malaysia Madani. The Local Government Development Ministry also recently announced that it would study Singapore’s renowned public housing policies for possible implementation in Malaysia.

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Drafted in 2018, the National Housing Policy seeks to promote affordable housing and address chronic issues varying from subpar construction to abandoned residential projects. The latter is, as Datuk Chang Kim Loong, honorary secretary-general of the National House Buyers Association would call it, “a thorn in the housing industry.”

With its action plan due for final implementation in 2025, the housing policy is lagging across several important yardsticks.

“The proper implementation of the National Housing Policy is vital to the property market,” says Tan. “But it has not been adhered to due to various reasons.”

Housing for all is one of the last hurdles that Malaysia must clear before it can join the big leagues. If favourable economic trends hold, Malaysia could be well on its way to becoming a high-income economy, its GDP per capita jumping to USD18,600 by 2030.

“Malaysia has all the necessary attributes to successfully make this leap,” says Victoria Kwakwa, vice-president for East Asia and Pacific at The World Bank, in a statement. “But navigating the next stage of development will require bold measures and tough reforms.”

ANALYSTS BELIEVE THAT MALAYSIA HAS ALL THE ATTRIBUTES TO SUCCESSFULLY MAKE THE LEAP TO BEING A HIGH-INCOME ECONOMY

ELECTRIC DREAMS In 2022, the performance of electrical and electronic exports was a highlight for Malaysia, particularly benefiting its industrial real estate sector.

Driven by a 30% increase in exports of electrical and electronic products, Malaysia witnessed a 22% year-on-year rise in exports of manufactured goods, according to financial services firm S&P Global.

Major investments have been made by companies like Intel, which has poured USD7 billion into a semiconductors packaging plant in Penang, and Infineon Technologies, which is constructing a massive wafer fab module in Kulim.

However, economic growth in Malaysia will need to navigate weakened external demand in 2023, with the downturn in the global semiconductor cycle expected to bring headwinds to exports. In March 2023, exports of electrical and electronic products decreased by 4.4% compared to the previous year.

The US and EU, which account for around one-fifth of Malaysia’s total exports, are experiencing slowing economic gains due to high interest rate hikes and the fallout from the Russo-Ukrainian War. On the other hand, the relaxation of border restrictions in mainland China could provide some relief as the country constitutes approximately 15% of Malaysia’s total exports.

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A COAT OF MANY COLOURS

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Following 18 months of recession, China’s housing market finally recorded growth in the first quarter. But market analysts say it’s too soon to talk of a recovery despite positive signs

BY STEVE FINCH

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SHANGHAI WAS AMONG THE FEW MARKETS TO REMAIN RESILIENT LAST YEAR AND CONTINUED TO SHOW SIGNS OF IMPROVEMENT DURING THE FIRST QUARTER

F

or decades, homeowners and investors in China’s residential market had become accustomed to one basic law which underpinned the whole market. The rule of thumb had it that prices would always go up despite the odd blip. Yet the past two years have severely tested this assumption, in turn changing perceptions and market dynamics.

For six straight quarters, as China’s surprisingly rapid post-pandemic recovery turned into a slump, the housing market shrank amid enduring lockdowns and a default crisis typified by Evergrande Group.

Last year, the market bottomed out during a period in which mortgage boycotts by frustrated buyers hit more than 330 delayed residential developments across the country. The largest number was in Zhengzhou, the capital of China’s most densely populated province Henan. New home sales plummeted 28%, and total investment fell 10% last year.

This year the market appears to have turned the corner, but are we witnessing a recovery, as appeared to be the case in late 2020, or will the downward market adjustment resume? In April, the National Bureau of Statistics reported 1.3% growth in the property sector during the first quarter, marking the official end of the 18-month recession, and there have been other positive signs.

A month earlier, China’s largest 100 developers recorded cumulative sales of RMB461.6 billion (USD66.8 billion), a 15% increase on the same month the previous year, and a 30% increase on the previous month. This statistic was significant, as many of these developers had experienced severe financial difficulties, with some at risk of default. And February is an important month as it reflects buying sentiment in and around Chinese New Year, a key date on the housing market sales calendar.

Rating agencies have since acknowledged and further bolstered positive market sentiment. In April, Fitch reported signs China’s housing market was stabilising.

And, in May, Moody’s revised the overall outlook for the market from ‘negative’ to 122

‘stable’, its first outlook upgrade in nearly two years. “[This] reflects the improving sales and funding conditions for developers,” it said.

China is a huge country, so you can pick any specific data point and draw a story from it. There is no true average

Still, numerous warning signs remain, not least the fragmented nature of market improvements in cities including Beijing and Shanghai compared to smaller cities. In late May, US-based Beige Book, which offers critical insights on China’s economic data, warned of new negative signs following a survey of more than 1,000 businesses as sales slowed, and pricing and transactions “weakened sharply” in the commercial property sector.

“There are still areas of weakness and confidence has been shaken but expectations have improved, especially in leading cities,” says James MacDonald, director of research at Savills China in Shanghai.

In the capital Beijing, positive signs have started to appear in most segments of the market. The value of large project investment transactions soared 60% during the first quarter with CapitaLand’s purchase of the Beijing Suning Life Plaza for RMB2.81 billion (USD397 million) among the largest single deals.

Shanghai was among the few markets to remain resilient last year and continued to show signs of improvement during the first quarter as the key second-hand residential market grew nearly 29%, and average sales prices grew 6% compared to the previous quarter, slightly up on the same period last year.

In April, sales prices of new residential units climbed about 4.5% compared to a year earlier in both Beijing and Shanghai.

Other large cities faired well, led by Chengdu which recorded an 8.7% price growth, followed by Hangzhou with 5.3%.

“First-hand commodity housing [in Chengdu] has seen a steady rise in demand, and the average price has increased as well,” says Sophy Pan, a senior research manager at Savills China.

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SHENZHEN HAS BENEFITTED FROM THE OPENING OF HONG KONG ON ITS DOORSTEP IN JANUARY WHICH LED TO A SHARP INCREASE IN MOVEMENT AND ECONOMIC ACTIVITY ACROSS THE BORDER

But a closer look at housing data released by China’s National Bureau of Statistics reveals a key problem facing the wider market. Although the biggest cities have returned to modest price inflation, or in the cases of Shenzhen and Guangzhou have stemmed equity losses witnessed last year, smaller cities are faring much worse.

In April, of the 70 largest cities in China, 48 were still recording falling prices compared to a year earlier. The vast majority of smaller cities included the popular, pandemichit tourist hotspots Dali, Guilin, and Wuxi, and Dandong, a city in north-eastern China on the border with North Korea, a country which has remained sealed since January 2020 despite recent rumours of a reopening.

The largest cities in China’s northeast have all faced similar difficulties including Shenyang, Harbin, Changchun, and Dalian, each of which saw prices drop between nearly 4% and 5% during the year to the end of April 2023. This downturn has extended to smaller cities in the region including Mudanjiang, Jinzhou, and Jilin where prices also declined over the same period.

China’s housing recovery or lack thereof looks entirely different depending on where you look. “China is a huge country, so you can pick any specific data point and draw a story from it,” Ervin Yeo, CEO of commercial management at CapitaLand China, said at a roundtable on the potential for 124

a Chinese housing market recovery held in Shanghai in midMarch. “There is no true average.”

A key reason for this spectrum of potential recovery exists in the multitude of housing policies enacted at the city level, combined with those introduced by Beijing, and there has been no shortage of support since the end of last year.

The central government has been keen to support large developers with financial problems which have not yet turned terminal in the hope of breaking the domino effect and instilling confidence into a market wracked by concerns over defaults in the wake of the problems at Evergrande Group. In the first quarter, developers Sunac, Fantasia, CIFI, Zhongliang, and Evergrande itself turned to the government for help in restructuring debt worth a combined USD27 billion-plus, according to Fitch Ratings.

Municipal governments in large cities, after years of implementing layers of curbs designed to cool markets, have in recent months done the opposite. In Chengdu, the city authority has relaxed housing purchase and sales limits and encouraged banks to stabilise credit and loans to struggling developers. In Chongqing, authorities have this year piloted a new project whereby properties with mortgages can be listed and traded without prior release of a mortgage, reducing transaction risks and costs, which is tipped by analysts for nationwide implementation later.

DANDONG IS ONE OF THE 48 OF CHINA’S 70 LARGEST CITIES TO RECORD FALLING HOUSE PRICES THIS YEAR COMPARED TO LAST

DELISTING SPARKS FEARS OF DOMINO EFFECT Sichuan Languang Development, a property firm located in China’s southwest, previously ranked as among the 10 best in the country, faced a delisting on the Shanghai board in early June after its share price remained below RMB1 (USD0.14) for 20 consecutive days, violating regulator rules.

The stock launched its IPO nearly a decade ago, but its share price has declined sharply amid China’s recent property market slump. Analysts say further property delistings are anticipated after Sinic became the first Chinese property developer to be removed from the Hong Kong Stock Exchange in mid-April after the company missed a deadline to resume trading following its suspension in September 2021.

On mainland boards, Guizhou province-based Zhongtian Financial Group, and MyHome Real Estate Development were warned of delistings in Shenzhen in June. A further five property development companies were also trading below RMB1 in early June, placing these at risk of delisting later this year.

Those companies include Tahoe Group, a Fujian-based property company, China Oceanwide whose parent company saw auditors PriceWaterhouseCoopers resign following a profit warning in 2019, Guangzhou Yuetai Group which operates property assets in Cambodia, and HNA Investment, an affiliate of Hainan Airlines.

HKEX rules dictate regulators may cancel a listing if a company fails to resume trading its stock within 18 months of a suspension. This year, more than 20 mainland Chinese developers have seen trading suspended in Hong Kong, and nine of these faced the possibility of delisting by September.

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IN CHENGDU, THE CITY AUTHORITY HAS RELAXED HOUSING PURCHASE AND SALES LIMITS AND ENCOURAGED BANKS TO STABILISE CREDIT AND LOANS TO STRUGGLING DEVELOPER

Shenzhen has been among the few cities which have bucked this trend. The city government has not removed any of the strict policies implemented in recent years in a bid to cool what had become one of the most overheated property markets in China—and the world— following years of soaring price growth. Nonetheless, Shenzhen has benefitted from the opening of Hong Kong on its doorstep in January which led to a sharp increase in movement and economic activity across the border.

difference is that during the past two years at least, whether deliberate or not, the market may have started to heed Beijing.

The Shenzhen government may be positioned for sustained, slower growth to avoid its previous price problems, a policy which appears to be working: The city recorded a steady price increase of just 0.3% in April compared to a month earlier and a drop of 1.1% compared to a year earlier.

Whether or not profits, huge or otherwise, remain possible in the short term remains a question of debate amid still mixed signals across China’s multi-speed housing market.

In April, Fitch Ratings forecast new home sales volumes may continue to decline this year by up to 5%, with average prices expected to remain stagnant, albeit with considerable variations by city.

In recent months, newspaper commentary in China has further championed President Xi Jinping’s oft-repeated mantra that “property is for living, not for speculation”. The 126

“From the perspective of overall economic development, the era when people used to speculate in real estate to obtain huge profits is over,” Tian Yun, a veteran economist in Beijing, told the nationalist daily newspaper Global Times in late April.

CHINA COMPLETES UNIFIED REAL ESTATE REGISTRY After tens of years, and millions of man-hours of work across the country, China completed a unified, national real estate registry in the second quarter, following an announcement by the Ministry of Natural Resources.

The Chinese government, which began the project in early 2013, sees the registry as a key step toward implementing a long-speculated property tax. In late 2021, the central government issued authorisation to the State Council, the country’s top political body, to pilot property tax measures in certain areas of the country.

Previously, different areas of the country relied on fragmented and incomplete house price data, particularly from rural areas, which meant that comparing pricing trends in all areas of the country had remained difficult. For years, the National Bureau of Statistics has published detailed price indices for the country’s 70 largest cities including Beijing, Shanghai, and Shenzhen but equivalent data for smaller cities and rural areas has remained less comprehensive.

Myriad challenges still exist in terms of house prices, not least selling off still huge inventory, particularly in smaller cities, and reduced transaction volumes across the board in terms of land and new developments, says James Woo, co-head of valuations at Colliers China.

“For 2023, sale prices of new residential projects in first-tier cities will be relatively stable,” he comments. “In second and third-tier cities [prices] will continue to decrease compared with the previous year.”

A wider economic recovery in China—expected to come in at around 5% this year, according to many analysts—remains a key driver of housing market sentiment and prospects, says MacDonald at Savills. Coupled with enduring concerns over developer debt and solvency, risks remain diminished but still significant, he adds, assessing the current state of the housing market: “Recovery is maybe still too strong of a word; I would say we have entered a period of relative stability.”

The new registry also offers several additional benefits to the country’s real estate sector and state regulators of the industry, not least the ability to access and compare prices across the country almost instantly. Economists in China have stated that improved data on the housing market may be timely as the country continues to tackle an unprecedented property slump in many areas of the country following the pandemic, resulting in city lockdowns and a debt-default crisis among leading developers.

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Dispatch

Electric avenues A host of new rules on charging points have come into law in the past year, yet the pace of installation and consumer sentiment are still lagging as Singapore aims to meet its 2030 EV ambitions

By Steve Finch

F

ew countries on the planet are as well placed to introduce widespread electric vehicle (EV) usage as Singapore.

At just 729 square kilometres, it is the thirdsmallest nation in Asia and the richest per capita. Yet this tiny island-state faces the same chicken-and-egg challenge afflicting every EV market in the world.

How do you encourage car buyers and property developers to opt for expensive

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SINGAPORE’S GREEN PLAN 2030 AIMS TO PHASE OUT COMBUSTIONENGINE VEHICLES AND INTRODUCE 60,000 EV CHARGING POINTS NATIONWIDE BY 2030

upgrades on the vehicles they drive and related infrastructure when the vast majority still opt for oil-based energy?

When the Singaporean government launched its first EV charging points in subsidised Housing Board or HDB housing in late February, Transport Minister S Iswaran captured the public mood as the country considers its EV future.

“As we all know, one of the concerns is around what is called range anxiety, where

Dispatch

ALTHOUGH NEW GOVERNMENT REGULATIONS HAVE NUDGED DEVELOPERS TOWARDS INSTALLING CHARGING STATIONS IN LARGE DEVELOPMENTS, THE BUYER SIDE OF THE MARKET IS YET TO CATCH UP

the question is: ‘Where can I get my next charge?’” he says. “By making charging points ubiquitous across the island, especially in our HDB [car parks], we hope to eliminate that range anxiety and therefore encourage greater adoption.”

Singapore finds itself at a crossroads on EVs, with significant recent impacts on the property industry. In February 2021, the government announced its Singapore Green Plan 2030 which aims to phase out combustion-engine vehicles and introduce 60,000 EV charging points nationwide by 2030.

In a bid to reach these ambitious targets, the government has introduced increasingly strict rules which place growing responsibility on property developers. In late November, parliament passed a new law requiring all new buildings to install EV charging points in at least 1% of total car and motorcycle parking lots on future projects, and all developments over a certain size must install a minimum of one charging point for every 25 parking spaces.

The Electric Vehicles Charging Act, which was passed in January and is scheduled to come into practice during the second half of 2023, further makes EV charging points mandatory and the responsibility of developers on all carparks, except those with fewer than eight car or motorcycle spaces.

To mitigate costs, the Singaporean government has simultaneously launched a

series of generous subsidies for developers although some grants are scheduled to be phased out by the end of this year.

Amid this rapidly changing landscape, some have already embraced the changes, and others have not. Frasers Property, one of the largest mall operators in Singapore, was working on installing dozens of EV charging points at all its 12 shopping centres.

“The availability and accessibility of charging stations are key to greater adoption of EVs,” says Tak Kee Yong, COO of Frasers Property Retail.

US multinational Schneider Electric announced in the second quarter its plans to provide 20,000 EV chargers by 2040, and the government has said it plans to supply one-third of all subsidised HDB housing with charging stations by the end of this year.

Overall, the government promised to install 40,000 charging points by 2030, leaving the private sector to make up the remaining 20,000 charging stations. Yet by the end of February, there were still fewer than 4,000 charging points nationwide.

The increasing but still sparse charging point coverage remains a significant factor in terms of EV take-up. Although the rate of electric vehicle purchases has risen— last year EVs represented nearly 12% of all registrations, triple the rate in 2021—still only about 1% of cars on Singapore’s roads are electric.

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Dispatch

That is expected to change as the installation of EV charging stations accelerates, and millennials become car and homeowners.

A recent survey by Mediacorp, Singapore’s state-owned media conglomerate, found 91% of people surveyed between the ages of 25 and 34 “agreed” or “strongly agreed” they were willing to take action to help save the environment. Last year, another survey by Polestar, the EV arm of Swedish automaker Volvo, found 34% of Singaporeans want combustion-engine vehicles to be prohibited altogether by 2030, a segment which rises to 47%, nearly half the population, for a ban by 2035.

But for now, still, lagging consumer sentiment on buying EVs also extends to

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THE INSTALLATION OF EV CHARGING STATIONS IS ACCELERATING ACROSS SINGAPORE

property investment: With still only 1% of vehicles operating on electricity, many homeowners and would-be buyers care little if their current or future homes offer installed charging points.

So, although new government regulations have nudged developers towards installing charging stations in large developments, the buyer side of the market is yet to catch up, says Alan Cheong, executive director of consultancy and research at Savills Singapore. “Feedback from developers points to the still lackadaisical interest by buyers of new private residential developments on whether it is EV-enabled or otherwise,” he says. “The case for EVs is not sealed and shut.”

Dispatch

Going with the wind The Philippines has set aside its history of rejecting renewables and is setting its sights on becoming the region’s top green power producer

By George Styllis

W

hen the windswept town of Bangui got a wind farm in 2004, it was the first in the Philippines and the first in the region.

That pioneering spirit was lost in subsequent years as the country lagged behind its regional peers. However, it has since returned, with the Philippines set to blaze a trail in renewables and leave current leader Vietnam in its dust.

THE PHILIPPINES AIMS TO BE THE TOP PRODUCER OF RENEWABLE ENERGY IN THE REGION

and 7,856 MW of wind power, according to a recent report by Global Energy Monitor, a non-profit that catalogues renewables.

That would make it the top green power producer in Southeast Asia and mark a turnaround for a country where renewables have long been neglected.

Asia has made strides in embracing green energy despite its continued reliance on coal.

By 2030, the Philippines will have added 17,809 megawatts (MW) of solar capacity

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Dispatch

THE NEXT ADMINISTRATION SHOULD BE AGGRESSIVE IN INCREASING OUR RENEWABLE ENERGY PROGRAMS BY ENCOURAGING COMPANIES TO BUILD MORE SOLAR, WIND, AND HYDROGEN POWER PLANTS

Between 2009 and 2018, Asia’s installed renewable energy capacity almost tripled from 349.1 gigawatts (GW) to 1,023.5GW. According to McKinsey, investment in renewables had matured and stabilised at around USD17 billion annually by 2020, with China leading the way.

The country is by far the region’s biggest investor in renewables, accounting for around 90% of all Asian investment in renewable energy.

Other major recipients of green investment have been India and Australia.

For many years the Philippines was at the back of the pack.

Despite a law passed in 2008 to encourage higher use of renewables, there was an increase of only 118MW in renewable energy capacity to 5,391MW from 2007 to 2011.

The cost of investment and new infrastructure, coupled with vested interests in fossil fuels, has been one of the reasons for the slow progress in the Philippines.

In addition, coal has been propped up by generous tax subsidies, making it hard to ditch.

But the Philippines’ energy sector is entering a new and critical phase as the economy emerges as one of the fastest-growing in the world.

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Since lockdowns ended, Filipinos have been desperate to spend cash. Economic Planning Secretary Arsenio Balisacan says strong domestic demand, a rise in jobs, and revenge spending following the pandemic accounted for the economy’s strong finish at the end of last year, growing at its fastest in over a decade at 7% in 2022.

“We are confident that we will remain in our high growth trajectory,” Baliscan told a media briefing.

The pressure on the economy have forced power producers to turn to coal for nearly 60% of their electricity generation and increased coal-fired power emissions by more than 40% since 2017.

With economic growth forecast to expand by 5.8% in 2023, according to Goldman Sachs, many see this as unsustainable.

The Malampaya gas field off Palawan province has fuelled four power plants owned by First Gen Corp. that supply about 2,000MW to the major island of Luzon. It had also fuelled San Miguel Corp.’s 1,200MW Ilijan power plant until a supply contract expired last year. But its annual output is dwindling, with the gas field estimated to run dry by 2027.

The government has tried to offset this by importing natural gas, but this has become more expensive than domestically supplied gas and is driving up already high inflation, putting the government in an awkward position.

Dispatch

To find a solution, the government announced late last year that it would remove stipulations that require energy assets to be owned by Filipinos, paving the way for unprecedented foreign investment.

Already, nine Chinese firms have committed a collective USD13.76 billion.

One of the countries the Philippines will be hoping to surpass is Vietnam, the poster child for renewables in Southeast Asia.

The question for both is whether they can stay the course—keep the economy growing and push on with renewables. With companies needing to be seen to be more environmentally conscious, this could prove an incentive.

Thailand and Indonesia are expected to ramp up their renewable energy supply capacity over the coming years, further intensifying competition.

Joey Bondoc, associate director for research at Colliers Philippines, said the move towards renewables should be embraced given the government’s backing for them, particularly in the property market.

SOLAR AND WIND POWER ARE BEING HARNESSED AS THE COUNTRY FLEXES ITS RENEWABLES CREDENTIALS

More residential and office developers are embracing the path to a greener future.

Developers are now applying for sustainable and green building certifications and this bodes well for the property sector.

Jennifer Morgan, German special envoy for international climate action, said the Philippines has “tremendous” renewable energy resources to be harnessed.

“I think there is a gigantic potential here for solar rooftops and offshore wind,” she said at an event in Makati City in April.

In 2016, when Rodrigo Duterte was president, then Senator Ferdinand ‘Bongbong’ R. Marcos Jr. said: “The next administration should be aggressive in increasing our renewable energy programs by encouraging companies to build more solar, wind and hydrogen power plants.”

He has been true to his word as president of the nation. Everyone will hope it stays like that for the sake of the planet.

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888 Lai Chi Kok Road (NCB Innovation Centre) Lai Chi Kok, Kowloon, Hong Kong A fully modern landmark and Grade-A office building, 888 Lai Chi Kok Road (NCB Innovation Centre) is situated in an up-and-coming neighbourhood in Kowloon West with a high level of connectivity. Wellequipped with office facilities, 888 Lai Chi Kok Road includes built-in pantries, executive lavatories on each floor, and nursery rooms and lockers available in female executive lavatories.

Run by elite building managers, the development comes with high-quality architectural features and first-class amenities, complemented by efficient ventilation, air-conditioning systems and touchless life call buttons. The 7,000-square-foot podium garden at 2/F provides users with peace and tranquility in mind. The project provides over 300 carpark spaces.

With only a five-minute walk from the MTR station, 888LCKR is strategically located in Cheung Sha 134

Wan. The area is now repositioning itself as a modern business area, attracting occupiers from different industries by utilising ongoing redevelopment of the area which connects Central CBD, West and East Kowloon and the Northern Metropolis.

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Developer: New World Development Company Limited Product type: Office development Architect: P&T Architects Limited Launch date: May 2022 Completion date: May 2022 Total land area: 44,897 sq ft Number of units: 10 (whole-floor), 247 (sub-divided) Facilities: Executive Lounge, Executive Lavatories, Nursery Room, Pantry, Podium Garden, and over 300 car parking spaces Monthly maintenance fees: USD0.84 per sq ft Price range: USD1,475-2,245 per sq ft Contact: Tel: 31105824 Email: 888lckr@nwd.com.hk Address: 23/F, New World Tower 2, 18 Queens Road, Central, Hong Kong

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Mega Tower

Mandaluyong City, Philippines SM Prime’s Mega Tower is the 50-storey landmark office development at the gates of the Ortigas Central Business District in Metro Manila.

Designed by Miami-based award-winning global architectural firm Arquitectonica, Mega Tower is a LEED Gold-certified structure located along Metro Manila’s “EDSA” central thoroughfare and stands tall beside the marquee SM Megamall – one of the country’s top retail destinations with over 323,746.84 sqm of retail, leisure, and entertainment establishments.

Promoting a pedestrian and lower carbon footprint lifestyle, employees working at SM’s Mega Tower have easy access to several public transport terminals through a series of interlocking in-door bridgeways. The SM Megamall and Tower Complex is also masterplanned to be within several minutes’ walking distance from various major mixed-use, institutional, residential, and hotel establishments in the Ortigas CBD. Mega Tower offers 92,055 sqm of gross leasable Grade A office space. Notwithstanding the tower’s unique “S”shaped sculptural form, all floors are rectilinear in plan, 136

allowing for completely flexible and bespoke layouts that cater to a variety of tenant requirements. The office floors are serviced by three zones of elevator lifts to maximize productivity, with a separate set of service lifts accessing the podium and basement parking levels.

Distinguished features of Mega Tower include a grand 7.2-metre high lobby that is finished in travertine and statuario marble, with columns clad in stainless steel; a double-glazed, double-height window curtain that flood the indoor spaces with natural daylight and maximize the expansive city and horizon mountain views of the Metro Manila skyline; and an exclusive secure corridor that provides direct access to SM Megamall.

The Mega Tower lobby is also above-ground level to provide a majestic drop-off with landscaped pocket gardens and a peripheral plaza for al fresco dining. Finally, the Tower is sculpted into the form of a sinuous “S”, highlighted by dramatic and striking accent lighting at night. When seen along EDSA, this sculptural form gives SM’s Mega Tower a distinct identity, allowing it to emerge from its dense urban context.

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Developer: SM Prime Holdings Inc Product type: Office Architect: Arquitectonica Launch date: July 2021 Completion date: March 2022 (first LC) Total land area: 11,532 sqm Number of floors: 50 floors above ground (53 including basement floors) Average floor plate: 2,700 sqm per floor Facilities: Chilled water system, back-up power/ generators, fire protection system, security system For leasing inquiries, please contact: Phone number: +63 917 860 2724 Email: office@smprime.com Website: www.smoffices.com

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LIMA Estate

Lipa and Malvar, Batangas LIMA Estate is Asia’s premier green industrial development, located in the towns of Lipa and Malvar, Batangas within the Philippine’s prominent industrial hub known as CALABARZON.

as Robinsons supermarket and Handyman hardware store, as well as a public transport terminal. The CBD is also home to Aboitiz Pitch, Luzon’s largest multi-sport artificial turf.

Accommodating 150 world-class companies, LIMA Estate is home to over 66,000 skilled professionals, attracting a population of nearly half a million to its integrated industrial, commercial, residential, and institutional facilities. LIMA Estate features its own ecosystem of facilities powered by the Aboitiz Group — Aboitiz Power and LIMA EnerZone for power generation and distribution, Aboitiz InfraCapital and LIMA Water for water distribution and treatment, and Aboitiz Construction for construction services.

The CBD caters to BPO companies at the seven-tower Office Park, which is also surrounded by many commercial lots in sizes between 1,800 and 5,000 square meters.

At the heart of the estate stands the 30-hectare Central Business District (CBD), featuring The Outlets at Lipa, an expansive outdoor lifestyle mall, and the adjacent LIMA Exchange, housing retail essentials such 138

Diverse housing options are also available within LIMA Estate, including AboitizLand’s The Villages at Lipa, Campo Verde, and Summer Hills subdivisions, comprising over 4,000 units. LIMA Park Hotel, Batangas’ only 4-star hotel, offers 136 upscale rooms and versatile ballroom facilities for events.

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Developer: Aboitiz InfraCapital Economic Estates Product type: Industrial-anchored estate Architects: AECOM Philippines (masterplan), WTA Architecture and Design Studio (The Outlets at Lipa), LPPA Design Group (LIMA Tower One) Launch date: 1997 Completion date: December 2022 (Industrial Expansion Phase 3), December 2024 (Industrial Expansion Phase 4) Total land area: 800 hectares Facilities: In-house power generation and distribution facilities; in-house water distribution and treatment facilities; in-house construction facilities; centralised security command centre; 24/7 emergency response Contact: Tel: 0917 162 LIMA (5462) Email: sales.leasing@aboitiz.com

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ARTIST’S IMPRESSION

Orchard Sophia

128 & 130 Sophia Road, Singapore Orchard Sophia is a new freehold development of 78 exclusive residences, located at the tip of Sophia Road in Singapore. The project is nestled near Singapore’s premier shopping district, Orchard Road, with the Dhoby Ghaut MRT Interchange just mere moments away.

An award-winning statement of redefined luxury, Orchard Sophia offers a variety of unit types, ranging from one- to threebedroom apartments to dual-key units, inside two distinct low-rise blocks. All units enjoy views of the large expanse of mature trees and greenery that surround the towers as well as intimate vistas of the central courtyard within the project.

Orchard Sophia is built with pockets of space that evoke an urban gallery aesthetic.

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Designed by acclaimed design firm Ong & Ong Architects, Orchard Sophia is a remarkable reflection of the Bauhaus architectural style that unites function and beauty.

Orchard Sophia is envisioned as an oasis of serenity within the city. At the heart of the development is the central courtyard, beckoning residents to a rejuvenating soak in a sleek, luxurious lap pool.

The development is home to many other luxe facilities. The rooftop promotes opportunities for socialising and recreation through facilities like the social and reading lounges, a bar, dining and alfresco barbecue areas, and spa pool.

WINNER BEST BOUTIQUE CONDO DEVELOPMENT

Orchard Sophia

by Orchard Sophia Pte Ltd

FACT BOX

ARTIST’S IMPRESSION

WINNER

HIGHLY COMMENDED

BEST BOUTIQUE CONDO INTERIOR DESIGN

BEST LIFESTYLE DEVELOPMENT

Orchard Sophia

by Orchard Sophia Pte Ltd

Orchard Sophia

by Orchard Sophia Pte Ltd

Developer: Orchard Sophia Pte Ltd (DB2) Product type: Apartments Architect: Ong & Ong Architects Launch date: August 2023 Completion date: August 2030 Total land area: Approx. 23,828 sq ft (2,214 sqm) Number of units: 78 Facilities: Spa pool, lap pool, pool deck, rooftop bar and dining, social lounge and lawn, outdoor fitness, alfresco barbecue, reading lounge, lobbies Contact: Tel: 8299 1748 Email: orchardsophia@yahoo.com Sales gallery address: Along Upper Boon Keng Road, Singapore

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138 – 142 Jalan Besar Central Region, Singapore Nestled along the bustling streets of central Singapore, 138 – 142 Jalan Besar is a row of three conservation shophouses that have recently undergone a remarkable transformation.

These conservation shophouses house commercial shops on their first level and residential units on their second and third levels.

The three conservation shophouses have gone through extensive restoration works. Their façades have been especially meticulously restored, capturing the essence of a bygone era while embracing a contemporary aesthetic.

The second and third levels have been converted into purpose-built co-living spaces with a total of 16 spacious rooms spread across the three conservation shophouses.

The co-living spaces were carefully designed to retain the unique characteristics of the conservation shophouses. This was done to 142

strike the perfect balance between heritage preservation and contemporary comforts.

The newly transformed conservation shophouses follow open-plan layouts, optimising the utilisation of the space. The spacious living areas and communal spaces encourage interactions and the exchange of ideas among residents and allow for relaxation and entertainment. Meanwhile, the bedrooms ensure total privacy between residents. All rooms are designed with the comfort and convenience of residents in mind.

These conservation shophouses attest to Singapore’s commitment to preserving its architectural legacy while embracing the demands of modern living. With their rejuvenated appearance, these remarkable structures symbolise timeless beauty and seamlessly blend the old and new with a modern streetscape.

FACT BOX WINNER

WINNER

BEST HERITAGE CO-LIVING SPACE

BEST CO-LIVING OPERATOR

138 - 142 Jalan Besar

by The Assembly Place

The Assembly Place

Developer/Co-living operator: The Assembly Place Product type: Conservation shophouse Architect: Studioshen Launch date: June 2022 Completion date: June 2022 Total land area: 857 sqm (approx. GFA) Number of rooms: 16 Price range: SGD1,800-3,000 per month Contact: Tel: 96194123 Email: shiying.hou@theassemblyplace.com Address: 51 Middle Road, #06-01, Singapore 188959

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SHINE BRIGHT LIKE A WINNER Join the region’s most exclusive real estate honours, celebrating 18 years of excellence in 2023 AsiaPropertyAwards.com

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HIDDEN FOR DECADES BY A HIGHWAY OVERPASS, THE CHEONGGYECHEON STREAM WAS REVITALISED TO BECOME ONE OF SEOUL’S MOST RECOGNISABLE, ENVIRONMENTALLY BENEFICIAL PUBLIC SPACES. BINIMIN/SHUTTERSTOCK

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