PropertyGuru Property Report No.182 (February - March 2024) by PropertyGuru Property Report

108 ASIA’S BEST RESORT RESIDENCES

CHINA TIGHTENS ITS BELT 146

152 THAILAND’S BRIDGE BUILDING 88

A NEW EDEN EMERGES 70

AUSARA SURFACE LOOMS LARGE

USD10; SGD13; IDR135,000; MYR41; THB330

PHU QUOC ON THE RISE 106

NO. 182 asiapropertyawards.com/newsroom

WINNER

BEST BOUTIQUE LUXURY APARTMENT DEVELOPMENT (NEW SOUTH WALES)

BEST LUXURY BOUTIQUE DEVELOPER

VILLIA Bellevue Hill by Skyland Group

Skyland Group

2023

Prompt 88

Km. 9 Tigatto, Buhangin, Davao City (0917) 124 5054

Northtown Residences, Buhangin District, Davao City (0917) 163 6264

Prompt 88

Sinar Mas Land

Artist’s Impression

www.theklimtcairnhill.com

MORE THAN 70% SOLD TOP Est 1H 2025

Sinar Mas Land Photo of Show Suite 3-Bedroom + 1 Living & Dining

Photo of Show Suite 2-Bedroom + 1 Living & Dining

Photo of Show Suite 2-Bedroom + 1 Master Bedroom & Study

High floor units facing Orchard Road available

Estate Agent Licence No. L3002382K Mr Darren Teo (CEA No. R026902Z)

Estate Agent Licence No. L3008899K Mr Adrian Tan (CEA No. R008222A)

Estate Agent Licence No. L3009250K Ms Ritzy Fang (CEA No. R003878H)

Estate Agent Licence No. L3008022J Ms Esther Ng (CEA No. P001884A)

Estate Agent Licence No. L3010738A Mr Keegan Awyang (CEA No. R029192J)

9002 6060

9339 5113

9068 8118

9366 7676

8382 6838

darrenwhteo@gmail.com

adriantlt.ppty@gmail.com

ritzy.fang@orangetee.com

estherng.propnex@gmail.com

keeganawyang@sri.sg

Developer Name: Glopeak Development Pte Ltd | Co. Registration No.: 201804391G | tenure: Freehold | Legal Description: Lot(s) 00819C, 00838W, 00836C and 00844T TS 27 at Cairnhill Road | Developer’s Licence: C1378 | Encumbrances: Mortgage registered in favour of United Overseas Bank Limited | Building Plan Approval: A1499-00001-2019-BP01 Dated 29 Jan 2021, A1499-00001-2019-BP02 Dated 8 Mar 2021, A1499-00001-2019-BP03 Dated 14 May 2021, A1499-00001-2019-BP04 Dated 22 Jun 2021 and A1499-00001-2019-BP05 Dated 20 Nov 2023 | Expected date of Vacant Possession: 3 Oct 2025 | Expected date of Legal Completion: 3 Oct 2028

Kambujaya Development Co., Ltd

Kambujaya Development Co., Ltd WINNER

WINNER

BEST LUXURY DEVELOPER (PHUKET)

BEST ULTRA LUXURY HOUSING DEVELOPMENT (PHUKET)

Botanica Luxury Phuket Co., Ltd.

Botanica Grand Avenue by Botanica Luxury Phuket Co., Ltd.

2023

Habitat

WINNER

BEST CONDO ARCHITECTURAL DESIGN

BEST CONDO DEVELOPMENT (EASTERN SEABOARD)

BEST CONDO DEVELOPMENT (THAILAND)

BEST CONDO LANDSCAPE DESIGN

BEST CONDO INTERIOR DESIGN

Wyndham Grand Residences Wongamat Pattaya by Habitat Group Co., Ltd.

2023

Habitat

HABITATGROUP.CO.TH 15

+66 62 806 8888

Your Gateway Getaway. Balai Cordova is where the sea and the city meet, where green landscapes and open spaces converge. More than breathtaking views, it is just minutes away from the CCLEX Bridge, making it a gateway to the heart of Cebu.

HIGHLY COMMENDED BEST AFFORDABLE CONDO DEVELOPMENT (METRO CEBU) BEST CONNECTIVITY CONDO DEVELOPMENT

19 Balai by BE Residences Coral TLTS No. 026 | Balai by BE Residences Sage TLTS No. 025

WINNER OF BEST LIFESTYLE DEVELOPER

FOR ILLUSTRATION ONLY

ACROSS & ABOVE THE TERRAIN, YOU’LL ALWAYS SEE IT ALL Located in prime District 5, next to the Greater Southern Waterfront transformation, merely 350M walk from Pasir Panjang MRT station.

WINNER

HIGHLY COMMENDED

BEST PREMIUM CONDO INTERIOR DESIGN

BEST PREMIUM CONDO DEVELOPMENT

BEST NATURE INTEGRATED DEVELOPMENT

Terra Hill by Hoi Hup Sunway Kent Ridge Pte Ltd

2023

WWW.HOIHUP.COM/TERRAHILL l 6311 9555 VISIT OUR SALES GALLERY, ALONG SOUTH BUONA VISTA RD

ARTIST’S IMPRESSION

OPEN DAILY: 11AM - 8PM

Developer: Hoi Hup Sunway Kent Ridge Pte. Ltd. ROC: 202132322K Developer License No: C1435 Tenure of Land: Notice of Completion: 9 January 2031 BP Approval No: A1716-00007-2021-BP01 dated 23/12/2022

Developer: Hoi Hup Sunway Katong Pte. Ltd. (UEN: 202140399C) Developer Licence No. C1461 4366X, 3234W, 3235V, 3236P, 3237T, 3238A, 3239K, 3240T, 3241A, 3242K, 3243N and 4364K all of MK 25; and (now known as 70002W) of MK 25 Notice of Vacant Possession: 17 November 2027

NEW LUXURY FREEHOLD COLLECTION

Artist’s Impression

Build your everlasting legacy in District 15, The Continuum grows gracefully with you.

WINNER

BEST LIFESTYLE DEVELOPMENT

BEST PREMIUM CONDO DEVELOPMENT

BEST PREMIUM CONDO ARCHITECTURAL DESIGN

BEST SALES GALLERY ARCHITECTURAL DESIGN

The Continuum by Hoi Hup Sunway Katong Pte Ltd

2023

WWW.HOIHUP.COM/THECONTINUUM I 6311 9555 Artist’s Impression

VISIT OUR SALES GALLERY, OPPOSITE 17 ROSE LANE OPEN DAILY: 11AM - 7PM

Freehold Lot No: LOT 02062L MK03 at Yew Siang Road (Queenstown Planning Area) Notice of Vacant Possession: 9 January 2028 Encumbrances on the Land: Mortgage in favour of United Overseas Bank Limited Tenure of Land: Estate in Fee Simple for Lots 3220W, 3221V, 3222P, 3223T, 3224A, 3225K, 3226N, 3227X, 3228L, 3229C, 3230X, Remainder of leasehold estate of 99 years commencing on 2 March 2023 (for proposed overhead bridge (airspace) for Lot 6115N-PT Notice of Completion: 17 November 2030 BP Approval No. A1716-00010-2021-BP01 dated 24 March 2023 Encumbrance on the Land: Mortgage in favour of OCBC Bank

The Greater locati on in Bangkok Peace & Living and our designers seamlessly integrated the brand concept of CHEREA VICINITY “Inclusive societyconnecting all livings” with the project's core ideas. These encompass the Jetsadabodin bridge, Chaopraya river's graceful curves, water's fluidity, European trade and architectural influences, and the natural essence of Bangkok - Nonthaburi provinces. We've translated these concepts into remarkable landscape features: the CHEREA CONNECTING PARK and a striking Panoramic clubhouse. The design of CHEREA CONNECTING PARKs facilitates an all-embracing connection between housing zones in the most inclusive way possible. Residents, regardless of their unit type, experience an active, healthful lifestyle enveloped by lush greenery, seamlessly interwoven throughout the project. European touches grace the parks, including fountains, columns, and phone booths.

Visit Visit our our website website for for more more information information

Rawayana. Villa complex on Rawai Beach • 0 meters to Rawai Beach • 2 condos and 35 premium villas • Fully secured area Infrastructure: shopping Center & Supermarket, sports complex, gym, SPA, tennis court, 3 common pools with panoramic sea views, private International School (Cambridge Program), private nursery school, children’s park & Trampoline Center, restaurants & British pub

PREMIUM VILLAS

Contact us: 58/147 Moo 6, Soi Rouyphad, Rawai Beach, Rawai, Muang, Phuket 83130 tel: +66 81 848 8268 email: invest@intermark.global 24

Starting price of villas - 16.800.000 THB Villa area - 295-382 sq.m. Fixed income - 6% for 5 years Buy back option - for 100% of the purchase price after 5 years 25

6 8 7 - 6 8 9 Q U E E N S B E R R Y S T, N O R T H M E L B O U R N E

Q UE E NSBERRY L U X U R Y

st .

T O W N H O M E S

‘Eleven individual residences with ﬂexible living spaces set around a garden oasis.’  3 & 4 Bedroom Luxury Residences  Home Offices & Multiple Living Zones  Designer Kitchens & Bathrooms by DKO  Rooftop Terraces & Central Garden

Q U E E N S B E R R Y S T.C O M . A U

Celebrating 28 years of upholding

+63917-1145856 28

the gold standard in community living.

PueblodeOroDevtCorpOfficial

www.pueblodeoro.com

PueblodeOro

Canopy Sands Development Champ

WINNER

BEST RESIDENTIAL DEVELOPER

BEST LUXURY CONDO DEVELOPMENT

BEST LUXURY CONDO ARCHITECTURAL DESIGN

BEST LUXURY CONDO LANDSCAPE DESIGN

UOL Group Limited

Watten House by UOL Group Limited and Singapore Land Group Limited

2023

Canopy Sands Development Champ

WINNER

HIGHLY COMMENDED

BEST PREMIUM CONDO LANDSCAPE DESIGN

BEST PREMIUM CONDO DEVELOPMENT

BEST PREMIUM CONDO ARCHITECTURAL DESIGN

Pinetree Hill by UOL Group Limited and Singapore Land Group Limited

2023

Sir Stamford Raffles Development Co.,Ltd Champ

MontAzure

PHINMA Properties PPA

PHINMA Properties PPA WINNER

WINNER

BEST APARTMENT ARCHITECTURAL DESIGN

BEST LIFESTYLE DEVELOPMENT (VICTORIA)

R.Iconic by R.Corporation

2023

AyalaLand Logistics Holdings Corporation PPA

AyalaLand Logistics Holdings Corporation PPA WINNER

WINNER

BEST PRIVATE CONDO DEVELOPMENT

BEST INTEGRATED DEVELOPMENT

Lentor Modern by GuocoLand

2023

WINNER

BEST DEVELOPER GuocoLand

2023

Eastland Property Ventures, Inc. PPA

Sunsuria Australia and Verdant Property Group

FOR INQUIRIES : Malaysia

Australia

Email : concierge@sunsuria.com Email : info@mpgcity.com.au Office : +603 6145 7777 Office : +61 396 399 995 Direct : +61 481 993 993 @onegrantcrescent | www.onegrantcrescent.com.au 42

One

GRANT CRESCENT

R E S I D E N C E

Perched gracefully alongside Mullum Mullum Creek,

our thoughtfully crafted 5-storey development offers an exceptional living experience for residents seeking both tranquillity and urban convenience.

Sunsuria Australia and Verdant Property Group

Artist’s Impression

ISSUE 182 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 Head of Regional Sales Orathai Chirapornchai Solutions Manager (Australia) Watcharaphon Chaisuk Solutions Manager (Cambodia) Phumet Puttasimma Solutions Manager (Cambodia and Greater Niseko) Nyan Zaw Aung Solutions Manager (China and Australia) Kai Lok Kwok Solutions Manager (China) Yiming Li Solutions Manager (India and Sri Lanka) Monika Singh Senior Account Manager (Indonesia) Wulan Putri Senior Account Manager (Indonesia) Oky Prasetya Senior Solutions Manager (Philippines) Marylourd Pique Solutions Manager (Philippines) Maria Elena Sta. Maria Awards Manager (Singapore) Alicia Loh Senior Account Director (Thailand) Kritchaorn Rattanapan Senior Account Director (Thailand) Rattanarat Srisangsuk Head of Awards & Developer Business (Vietnam) Nguyen Tran Minh Quan Account Manager, 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

CONTENTS | Issue 182

Gadgets

Trends

Style

Fulfil your resolutions with these cutting-edge companions

Keep up with 2024’s design trends with smart furniture choices

These items are sure to bring the fire in the Year of the Dragon

Project Confidential: Earthly paradise

Interview: Guiding light

Design Focus: Loom at the top

Gardens of Eden creates opulence of epic proportions on Phuket’s shoreline

Josh Chye of HLB helps clients negotiate Australia’s tax system and legal environment

Ausara Surface brings unconventionality and innovation to experimental textile collections

Artist Impression

Artist Impression Artist Impression

CONTENTS | Issue 182

106

108

120

Neighbourhood Watch: Phu Quoc

Special Feature: In search of space

Destination: Cambodia

The island’s remarkable transformation has helped make it one of Vietnam’s hottest investment prospects

Asia’s resort residence market is witnessing a shift as investors eye larger, multifunctional units

Rapid credit growth is putting pressure on Cambodia’s property market, but opportunities are there for brave investors

128

146

152

Destination: Indonesia

Dispatch: Tightening its belt

Dispatch: A bridge too far

The outgoing government is banking on tax breaks and other incentives to revive the country’s residential sector

China’s BRI strategy is evolving, with regional allies hopeful it will bring positive outcomes for real estate markets

Will Thailand’s plan for a land bridge between coastlines revolutionise shipping?

83 OV % ER SO LD

SEAMLESSLY CONNECTING YOU TO

one-no rth

Artist’s Impression

I N F UL L BL O O M

TH E TALLE ST RE SIDE NCE RISING FROM one - north PARK

Bu on a V ista 3 mi n s wa l k

on e - n orth 8 mi n s wa l k

FANTASTIC PROXIMITY TO A LIFE MADE EXTRAORDINARY • A 27-storey development with 275 exclusive units from 1 + Study to 4-Bedroom Premium and Penthouse units • 3 mins walk to Buona Vista MRT Interchange • 5 mins walk to The Star Vista • Situated right beside one-north Park • 1 MRT stop from Holland Village • Situated within 1km of Fairfield Methodist School (Primary) and educational institutions like ACJC, Singapore Polytechnic, and ESSEC Business School • One of the first residential developments with in-built smart kitchen appliances The Star Vista

• A premium development with retail conveniences right below your home

S A L ES GAL L ER Y AL O N G BIOP OL IS R OA D OPEN 1 0AM T O 6 PM , S AT U R DAY & SU N DAY • WEEKDAY VI EWI NG BY A PP O I NTMENT O N LY

FOR EN QUIRIES CALL 8189 1690 O R EMA I L sales@eldev.com .sg Developer: EL Development (Buona Vista) Pte. Ltd. (UEN 202135422N), EL Development (One-North) Pte. Ltd. (UEN 202135415N) • Sales Licence No.: C1444 • Tenure of Land: Leasehold estate of 99 years commencing from 10 Jan 2022 • Encumbrances: Caveat(s)/Mortgage(s) in favour of United Overseas Bank Limited • Expected Date of Vacant Possession: 31 Dec 2027 • Expected Date of Legal Completion: 31 Dec 2030 • Location: Lot 05582V of Mukim 03 at Slim Barracks Rise • BP Approval No. A1720-00020-2021-BP02 dated 17/03/2023

blossoms.com.sg

EDITOR’S NOTE Issue 182

Every issue of Property Report by PropertyGuru is a joy to curate. But no edition is more uplifting to put together than our annual look at the resort residences scene around the region. Indeed, there are few better antidotes to the February blues than casting an eye over some of the incredible projects and design innovations that are appearing across Asia. As such, we’ve put the spotlight on some of the more remarkable developments that are catching our fancy in our annual collection of Asia’s most exciting resort residences. On a similarly paradisiacal theme, this issue’s Project Confidential offers the lowdown on the new Gardens of Eden on Phuket, a unique luxury and wellness destination comprising residences and facilities spanning over 122,000 sqm of rich natural landscape. Other tempting destinations in this installment include Phu Quoc, Vietnam’s most sought-after island. We also look at how Ausara Surface is revolutionising Thai textiles in the service of some of the region’s plushest resorts. Elsewhere in this issue, we peruse the markets in Indonesia and Cambodia, run the rule over major infrastructure plans in Thailand and as part of China’s ambitious BRI, and chat to HLB’s Josh Chye about how investors can negotiate Australia’s tax regulations. Enjoy!

Duncan Forgan Property Report duncan@propertyguru.com

ADVERTORIAL

FOREST OF DREAM HOMES A deluxe development, set on the cusp of Clementi Forest within Mount Sinai Estate, offers affordably luxurious, architecturally brilliant abodes integrated into the heart of nature

Artist’s Impression

Home to the earliest luxury private condominiums in Singapore, the Mount Sinai-Pandan Valley area remains one of Singapore’s most desirable, lushest residential areas. Now leading developers, UOL Group Limited and Singapore Land Group Limited, are rejuvenating the neighbourhood with the introduction of the deluxe 520-unit condominium development known as Pinetree Hill. Situated within the Pine Grove residential enclave in the heart of Mount Sinai Estate, Pinetree Hill is one of the first launches of its kind in the area in many years. This distinctive development comprises three towers enveloped by abundant natural landscapes. Pinetree Hill offers an attractive value proposition. This luxury development is competitively priced compared to other launches in the RCR (Rest of Central Region). This level of affordable 54

luxury, coupled with its strategic location close to Mount Sinai Estate and Holland Village, makes it a lucrative investment option for home buyers.

at their doorstep, residents have access to verdant amenities via the Clementi Forest Nature Trails, the Ulu Pandan Park Connector, and Rail Corridor.

Architecturally, Pinetree Hill is a standout. A distinguishing feature of the project is that it is elevated at a height of 12.6 metres, equivalent to four storeys, above the ground. This is meant to represent pine trees growing from the site, hence the name.

Upon entering the property, residents are greeted by a signature Flower Swathe showcasing vibrant blooms and seasonal plants. Illuminating the evening landscape are three distinctive pavilions, the Pinetree Nests, which give residents a one-of-a-kind vantage point over the nearby Clementi forest.

Strategically positioned in a staggered arrangement, the towers that make up the project all ensure unobstructed, panoramic views with a favourable north-south orientation from every unit. Overall, the project showcases thoughtful design that harmonises seamlessly with the lush surroundings, providing a profound connection to the adjacent Clementi Forest. Indeed, the towers represent just 12% of the site; the remaining 88% is allocated to greenery and facilities. With forests

Amenities include a 50-metre resortstyle lap pool, complemented by a wellequipped gym and social space as well as tranquil pavilions amidst reflective pools, among others. The interior design concept embraces nature-inspired themes, utilising warm and neutral tones to convey luxury and versatility. The residences are available in many layouts, starting from onebedroom-plus-study units at 538 sq ft to a sprawling, 2,874-sq-ft penthouse.

ADVERTORIAL 2-bedroom residences starting at 700 sq ft. These spacious, efficient layouts guarantee a comfortable living experience. The wide range of configurations suits young couples and families with kids looking to enrol their kids in reputable schools. Henry Park Primary School and Pei Tong Primary School are just among the notable institutions within a 1-kilometre radius from the development.

Artist’s Impression

The master bathrooms in the fivebedroom and penthouse units are generously appointed with premium fittings, double vanity sinks, and bathtub. Residences with four bedrooms and more boast expansive living and dining areas featuring balconies with wide frontages, giving residents unblocked views. Units with three bedrooms and more feature fully enclosable, naturally ventilated kitchens as well as marble

and timber flooring. Meanwhile, the premium four-bedroom units and above showcase distinctive open kitchens with spacious island counters. Smaller units’ master wardrobes feature satin glass doors and functional accessory side panels, while larger units present a full-glass walkin wardrobe concept. Rarely do you come across 1-bedroom residences with sizes starting at 538 sq ft and

Pinetree Hill has a pride of place near business hubs such as one-north and Science Park. Retail and lifestyle amenities at Holland Village, Dempsey Hill, and Orchard Road shopping belt are also close to residents of Pinetree Hill. Located close to Prime District 10, Pinetree Hill is a unique proposition for affordable luxury. It is all at once a stroke of architectural genius and a seamless extension of nature. Its homes allow residents to start a family, create a personal retreat, or simply build a life amid forested bliss in Singapore.

For illustration only 55

DETAILS | Gadgets

NEW YEAR, NEW YOU Fulfill your resolutions with the help of these cutting-edge, innovative accountability companions

RING IN THE YEAR Resolve to get better sleep this year with the Oura Ring. Unlike bulky smartwatches, Oura is so light at just 4 grams but so powerful, able to track your sleep quality, heart and respiratory rates, body temperature, and blood oxygen levels, among others.

From USD299, ouraring.com

DETAILS | Gadgets

BREATH OF FRESH AIR The road to better indoor air quality starts with the Blueair Blue Pure 311i Max. Equipped with powerful sensors, the gizmo can automatically detect the minutest pollutants and update you about air quality in real time through the connected app. It also comes in several Scandi-cool pre-filters.

USD229.99, blueair.com

POT LUCK Cooking at home is far healthier than ordering food. For those who can’t, the versatile Instant Pot Duo is able to do everything from rice cooking to steaming and pressure cooking. Simply toss ingredients into the pot and leave it be—you can even control it from your phone.

From USD79.95, instanthome.com

WRISTFUL THINKING Cultivate healthy habits by wearing the Aktiia Blood Pressure Monitor on your wrist. It discreetly and unobtrusively measures your blood pressure in the background, eliminating anxietyinduced spikes. A breakthrough in health monitoring, the Aktiia can be calibrated monthly with the supplied cuff.

GBP199.99, aktiia.com

ORANGE YOU GLAD Cast unhealthy drinks away for the refreshing goodness of fruit and vegetable juices. The Viva juicer by Philips can give you up to 1.5 litres of juice in one go. Easy to disassemble and clean, this juicer can be a great addition to your fitness routine.

From USD94, philips.com

Come home to Grand Riverdale, an exquisite 9-hectare residential masterpiece only a short drive away from Metro Manila. With large courtyards, vast green spaces, spacious lots, and generous road networks, this luxurious village offers discerning individuals an unrivaled suburban experience. Experience the pinnacle of contemporary living at Grand Riverdale – where luxury, tranquility, and community converge in perfect harmony.

www.facebook.com/antelland www.antel.com.ph

DETAILS | Trends

IN VOGUE Keep up with some of 2024’s biggest design trends with these inspired furniture choices

SOFA SO GOOD Out with greys and neutrals—this year is all about bold colours. Don’t be afraid to experiment with dark green such as the shade on this Bellaire chaise sectional. Take a minute to admire its velvet upholstery and the crystal button tufting adorning its armrests and back cushion.

From USD1,627, coasterfurniture.com

The Philippine Star Nate

DETAILS | Trends

TREE-MENDOUS Sustainable furniture will never go out of style. Sabai’s Semi Side Table makes an environmental statement with its cherry carbon smart wood and FSC-certified white oak, crafted into a clever half-moon shape. It also features non-toxic VOC-free oil stain and all-recycled packaging.

USD395, sabai.design

CURVES AHEAD The Olbia Dining Table with Ferrara Dining Chairs perfectly exemplifies the trend towards curved furniture. Catching your attention with its curvaceous, lacquered wooden base and ovular tabletop, the set showcases modern artisanship with handcrafted woodwork and a variety of stunning finishes.

GBP3,879, bridgman.co.uk

SIP HAPPENS Scalloped details are expected to be all the rage in 2024, and a good place to start is something like the Maya bar stool by Liang & Eimil. Available in kaster mushroom or anchor grey velvet, it makes for a sublime seating choice with subtle scallops in the backrest and black steel legs in a stylish matte finish.

From GBP399, liangandeimil.com

TIMBER TALES Get ready to say goodbye to blonde wood and welcome darker wood tones in 2024. For starters, opt for this timeless-looking bookshelf from Sauder. This tall creation is made of engineered wood with three adjustable shelves and an oiled oak finish.

From USD170, sauder.com

37 GRAHAM ROAD, HIGHETT, VICTORIA, AUSTRALIA

Artist impression – Park House & playground

Artist impression – Private residents’ outdoor pool

Artist impression – The Townhomes exterior

Bringing nature back to Highett’s heart. Melbourne’s premier bayside masterplanned community, located next to Melbourne’s premium suburbs including Brighton, Hampton & Sandringham. Surrounded by 4 hectares of nature with resort-style amenity and located in Highett Village, only a stones throw from Sandringham Beach. 60% Sold - Construction commenced. 1, 2 & 3 bedroom Apartments 3 bedroom Lofts 3 & 4 bedroom Townhomes

Private resort-style amenities

9.3ha walkable precinct:

• Indoor lap pool • Outdoor resort style pool

• 3ha conservation park & 1 ha park with playgrounds & BBQ areas

• 2x gymnasiums

• Home to the new Highett library

• Yoga room

• 5 mins from Sandringham beach

• Wellness area

• Moments from Westfield Southland Shopping Centre

• Cinema

• On Highett Road retail precinct

• Private dining room & kitchen

• Next door to Woolworths Supermarket • Across from Highett train station

from $593,500 from $1,410,600 from $1,614,000

Highett Common has been named: For more information Stefanie Palazzolo + 61 434 369 683 highettcommon.com.au

• Access to Melbourne’s leading private schools and Monash University Caulfield Campus

2023 WINNER:

Best Apartment Development (VIC)

Best Eco Friendly Apartment Development

Best Apartment Landscape Design

A PROJECT BY

DETAILS | Style

FULL OF FIRE These mythically mirthful items will add a touch of elegance to your space or just create fun in the Year of the Dragon

HOLD THE GOLD Toast to prosperity and joy with Williams Sonoma’s exquisite old-fashioned glasses featuring vintage Korean art. Etched and hand-painted in gold by artisans in Turkey, these clear glasses, which come in a set of four, offer a sophisticated way to hold your drink.

USD25 each, williams-sonoma.com

#HomeOfTheFuture Making

sustainable living a reality

Artist’s Perspective

I-Land Residences Sucat is a 2-hectare property composed of six mid-rise towers built around the values of innovation and sustainability - aiming to achieve LEED certiﬁcation across all of its towers. This includes green open spaces, resource-eﬃcient features, amenities geared toward outdoor activities, as well as residential units that are optimally designed for versatility and comfort. It is strategically located in the heart of Parañaque City - the burgeoning southern area of Metro Manila – providing easy access to the major highways, the airport, as well as shopping malls, groceries, schools, and hospitals. SUSTAINABLE FEATURES

Daylight Access

Optimized Energy Performance Heat Island Reduction

inquiry@iland.com.ph

Low-Emitting Materials

Rainwater Management

www.iland.com.ph

Indoor and Outdoor Water Use Reduction Access to Quality Transit

facebook.com/@iland.ph

Enhanced Indoor Air Quality Light Pollution Reduction

instagram.com/iland.ph/

Owner and Developer: ISOC LAND, INC. | Dr. Arcadio Santos Ave., BF Homes, Parañaque City Target Completion: Tower 1 - June 30, 2024 | Tower 2 - December 31, 2025 | Tower 3 - June 30, 2027 DHSUD LS No. 155 | DHSUD LS No. 469

65 VIRTUAL TOUR

DETAILS | Style

BUILDING PROSPERITY Indulge your child—and inner child— with this captivating Lunar New Year display set from Lego. Create miniature peonies, koi fish, and red envelopes to decorate your table or shelf. Displayed individually or as a pair, these building blocks make for a great activity that brings the family together.

USD89.99, lego.com

LIFE’S YOUR CREATION For the little ones in your life, gift this beautiful Barbie doll donned in traditional xifu robe, complete with auspicious peony prints, water sleeves, a headdress, and cyan blue shoes. Fresh off a blockbuster year for Barbie, this toy will add a touch of festive charm to playtime.

USD55, mattel.com

CRYSTAL BLESSINGS Add sparkle to the Lunar New Year with this dragon ornament from Swarovski. Featuring lucky red and yellow hues, the ornament can be hanged off a shelf or around the neck of a vase. With 187 facets that catch light, this dragon roars good fortune, indeed.

USD95, swarovski.com

SERPENTINE SUPPER Sporting an attentiongrabbing dragon motif, this lazy Susan can hold your dried fruit, sweets, and snacks for the Lunar New Year. Crafted from stoneware with an off-white and red glaze decal finish, this product is phthalate, BPA, lead, and cadmiumfree.

USD129, potterybarn.com

PREMIUM CAMPUS LIVING Reimagine your student living experience here at Campus by The Assembly Place. Designed exclusively for students, experience community, freedom and unforgettable moments all within our premium co-living student hostel space. With 21 premium facilities tailored for students, our self contained campus ensure that you have everything you need for a well-rounded student life. Welcome to your new home at Campus by The Assembly Place. +65 8127 7418 | +65 8075 3065 | +65 8772 9650 Email: Address:

info.campus@theassemblyplace.com 116 Lorong J & 119 Lorong K Telok Kurau Singapore 425946 & 425760

www.campusbytap.com

ADVERTORIAL

KING OF THE HILL At Terra Hill, Singapore’s property seekers discover a paradigm of urban living with exclusive residences, meticulous design, and seamless connectivity in District 5

ARTIST’S IMPRESSION

The Greater Southern Waterfront of Singapore, spanning Pasir Panjang to Marina East, is set to undergo a significant makeover. It will become a prominent gateway and a focal point for urban living along Singapore’s southern coastline. The transformation will be carried out in stages, commencing with the redevelopment of the former Pasir Panjang Power District, Keppel Club, and Mount Faber over the next several years. A wide range of property seekers, ranging from high-income singles and families to HENRYs (High Earners, Not Rich Yet) and investors, are set to descend on the area, as its lifestyle appeal and long-term investment potential come into clearer view.

Given the location’s undeniable desirability, Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd are jointly developing Terra Hill, a luxury freehold hilltop home right next to the Greater Southern Waterfront. Located in prime District 5, this freehold oasis is only 350 metres or a 4-minute walk away from the Pasir Panjang MRT station. Sitting on the grounds of the former Flynn Park, Terra Hill capitalises on its strategic hillside setting, ensuring all blocks and units are perfectly oriented towards optimal vistas, without any direct west-facing units. As a result, the units are shielded from the strong rays of the sun. Terra Hill is inspired by the material composition and hues unearthed in the Grand Canyon. Embracing

geological principles like superposition and original horizontality, the design unfolds as a manifestation of intertwined layers, showcasing a rich interplay of colour, reflection, and tangible textures. Terra Hill offers 270 units comprising multi-bedroom residences. Property seekers may choose from two distinct groups of homes: The Signature Collection and The Prestige Collection. The Prestige Collection, with its spacious four- and five-bedroom residences, is designed for those seeking a higher level of luxury living. It consists of 30 spacious, low-density units, with sizes going anywhere from 1,894 sq ft for the four-bedroom units to 3,035 sq ft for the five-bedroom duplex penthouse. The four-bedroom units contains a living room with a 6-metre-

ADVERTORIAL bathroom features fittings from Gessi and Laufen. The addition of designer concept ceiling fans adds the final touch of perfection to all unit types. A mix of warm and cool tones creates a well-balanced luxury palette for the interiors of the Signature Collection, making it a homely place to be. Both the living and dining areas feature elegant tiles, their neutral colours continuing into the kitchen and balcony.

ARTIST’S IMPRESSION

wide frontage while the living room in the five-bedroom duplex penthouse has a 9-metre-wide frontage. Each block of the collection features only two units a floor, with residents enjoying a private lift lobby. Throughout the entire unit, a sophisticated material palette exudes elegance, combining timeless stone charm with luxurious accents. Framed reflective glass cabinets, balanced by the warm colours of walnut wood, creates a unique atmosphere inside the unit. The bedroom comes with an en suite bathroom, in addition to walnut accents, black brushed finishes,

dark-toned reflective glass, and other opulent details. The master bedroom features a walkin wardrobe with sleek tinted glass, and the master bathroom is adorned with Laufen and Gessi bathware, full marble flooring, and a bathtub. Meanwhile, the kitchen is equipped with high-end fittings, including V-Zug and Franke appliances, with a Samsung refrigerator for the wet kitchen. With twoand four-bedroom residences on offer, The Signature Collection appeals to smaller families and couples. The kitchen comes with appliances from De Dietrich while the

With price points averaging at SGD2,650 per sq ft, Terra Hill attracts individuals with substantial disposable incomes as well as families seeking a place to call their own. The development carries with it long-term investment opportunities, considering the future developments in the Greater Southern Waterfront, the significant transformations taking place in the surrounding area, and the freehold status of the property. In the near term, investors are enticed by the potential rental income offered by the prime location of Terra Hill. Truly, Terra Hill is a home seamlessly connected to everything property seekers need in Singapore.

www.hoihup.com/terrahill

FOR ILLUSTRATION ONLY 69

EARTHLY PARADISE

Gardens of Eden places an emphasis on open spaces and wellbeing to create epically proportioned opulence on Phuket’s shoreline BY AL GERARD DE LA CRUZ

SET ON A PRIME BEACHFRONT LOCATION IN PHUKET, GARDENS OF EDEN SETS A NEW BENCHMARK FOR LARGE-SCALE DEVELOPMENTS ON THE ISLAND

n the beginning, Phuket was the preserve of backpackers.

And then developers said: “Let there be opulence.” Creation continues to happen on Thailand’s largest island. With the backing of Dubai-based firm DPD Invest, Amal Group of Companies is investing THB11 billion (USD315 million) in Gardens of Eden, a 73-rai wellness community in western Phuket. It marks DPD Invest’s first foray into Thailand. The callback to the biblical garden seems warranted. Seventy percent of the almost 12-hectare site is dedicated to open spaces, profuse with botanical gardens, water features, and active green areas. “This project sort of flipped things around because in this development, 70% of the space is open space and 30% is built-up space, which is usually the other way around,” says 72

Ravi Chandran, corporate affairs advisor of the project and former CEO of the integrated destination Laguna Phuket. A confessed sustainability advocate, Chandran joins a development team led by CEO Aleksandr Chuvalov, known for having developed luxury residential projects in Russia. “The developers are very focused on wellness and nature,” says Chandran. “They didn’t want to be in a city area with high-rise buildings, shops, and cars in front of them. So, they took some time and then they found this beach spot.” Only 50 metres away from the surf, the plot was prime for development. The location represents one of the last plots of waterfront land on Bangtao Beach, among the longest beaches in Phuket. “It is quite expansive. We can compare it to 22 soccer fields,” says Yana Chuvalova, director of sales for Gardens of Eden.

GARDENS OF EDEN BOASTS EXCLUSIVE HEALTH AND HOSPITALITY FEATURES SUCH AS A MASSIVE, PROFESSIONALLY RUN SPA AND WELLNESS CENTRE AND AN ARRAY OF POOLS, WATER FEATURES, AND GREEN SPACES

Martin Palleros, holistic designer and founder of Singaporebased practice Tierra Design, was brought in to guide the blossoming of the project. A motorbike enthusiast, Palleros recently rode through Patagonia and Bolivia, a trek that ended up somehow inspiring his design for Gardens of Eden.

Given the scarcity of large existing trees on the site, the entire landscaping effort needed to commence from the getgo. Following Tierra Design’s strategy, the Gardens of Eden team has designated a portion of the site for the cultivation of native trees.

“My inspiration for the project is nature,” he says. “We try to educate developers that nature—and landscape—is luxury now. It becomes less and less and, as time goes by, will be harder to come by. That’s why this project is so important and so unique because it will set up a precedent.”

“Everything will have to start from scratch,” says Palleros. “Four or five years down the line, we’ll have some mature and larger trees that we can use throughout the project.”

In Palleros’ vision, over 1,000 trees are set to populate the beachside site, an exercise in biophilic design. The curated flora encompasses everything from fruit orchards to organic gardens, their produce potentially appearing in farm-totable programs across the project. Other plantings, some in the form of vertical gardens, serve to minimise heat gain on the building façades.

Another environmentally crucial feature of the project involves the incorporation of deep balconies. With sizes going over 41 sqm in some units, the big balconies reduce windows’ exposure to sunlight, keeping the buildings passively cool. “A lot of people are taking the approach of prioritising more glass for better views, but environmentally it is not the best way to moderate temperature,” says Palleros. 73

NATURE—AND LANDSCAPE—IS LUXURY NOW. SUCH SPACES ARE AT A PREMIUM AND, AS TIME GOES BY, WILL BE HARDER TO COME BY. THAT’S WHY THIS PROJECT IS SO IMPORTANT AND SO UNIQUE

EDEN RESIDENCES, THE FIRST PHASE OF GARDENS OF EDEN, IS STACKED WITH PRIVATE POOLS, SEA-VIEW TERRACES, AND GARDENS, PLUS RESIDENTIAL FACILITIES SUCH AS A CLUBHOUSE, GYM, KIDS’ ZONE, CAFÉ, AND UNDERGROUND PARKING LOTS

HOME TO OVER 1,000 NATIVE TREES, GARDENS OF EDEN OFFERS MANY BIOPHILIC EXPERIENCES, WITH 70% OF THE LAND DEDICATED TO OPEN SPACES

ISLAND WITH EVERYTHING Gardens of Eden is symptomatic of Phuket’s continuing internationalisation in the wake of the pandemic and geopolitical uncertainty. Property seekers are not merely buying for investment in the beloved Thai island but for relocation altogether. Families from Europe to North America now come to its pristine shores in search of a better life, if not to simply seek refuge from colder climes. In the first half of 2023, Phuket’s real estate market reached a value of THB27,508 million, according to a report by the hospitality consultancy C9 Hotelworks. Deterred by the unstable socio-political environment in the motherland, buyers from Russia have actively fed into the market. Transactions from Russian property seekers amounted to THB875 million across 240 units, averaging THB3.6 million per residence.

Purchasers from France, the US, and China followed, conducting transactions totalling THB679 million. This equates to an average transaction value of THB5 million, THB5.8 million, and THB3.8 million, respectively. Gardens of Eden is a “significant project” for Bangtao and Phuket overall, according to the project’s corporate affairs advisor Ravi Chandran. “Demand for quality living in a spacious natural environment in a prime location is extremely high as families relocate to the island from across the globe.” In addition to world-class projects like Gardens of Eden, Phuket is now home to nine hospitals, 13 international schools, eight shopping malls, four marinas, and six golf courses. This is to say nothing of the 26 beaches around the paradisiacal island.

NATURAL MATERIALS SUCH AS CARBON-NEGATIVE WOOD AND LOCALLY SOURCED GRANITE ARE CAREFULLY SELECTED AND USED IN THE PROJECT

Lined with inner gardens, the structures on the site are designed with natural materials like carbon-negative wood and locally sourced granite. Discussions and plans are underway to secure green certifications for the project. “For most of our projects, we use local materials as much as possible,” says Palleros. “In Thai architecture, there’s an old tradition of doing wooden buildings, and you can see some of the really old houses still standing in timber.” Gardens of Eden mainly comprises low-rise structures. With Phuket regulations limiting building heights to five storeys for certain projects, the team opted to design four-storey structures for the first phase of the development. With one classy differentiator, that is. “We will have truly luxurious residences with ceilings more than three metres high that are very unique for Phuket,” says Chuvalova. “Most of the developers are trying to maximise and build more, but they end up with a lower ceiling height,” says Palleros. “We are looking at high ceilings as part of this luxury 76

of space, in terms of interiors and when you’re outside. So, luxury flows from the inside to the outside.” Patricia Ho Douven, founder of the Singapore design studio White Jacket, helmed the interiors and common areas of the 141 apartments that make up the first phase of the project, also known as Eden Residences. The apartments are contained in seven low-rise buildings—each bearing the name of a flower—with unit sizes no smaller than 75 sqm. The buildings are topped with private pools. Eden Residences is connected by a bridge to Park Residences, which forms the second phase of the project. This part of the development comprises six buildings, each housing 70 residences. On the whole, Gardens of Eden is a self-contained community that tries its best to keep residents from leaving for the urban conveniences of the Old Town or Patong Beach. The project is a lifestyle play with a multitude of restaurants, clubhouses, kids’ clubs, gyms, and retail areas, including a supermarket.

EDEN RESIDENCES OFFERS 141 APARTMENTS IN FOUR-STOREY BUILDINGS WITH SPACIOUS UNITS AND EXTRAORDINARILY TALL CEILINGS

At the heart of the project stands a specialised medical wellness centre, conceptualised by the renowned global wellness consultancy GOCO Hospitality. The wellness centre, laid out like a leaf or petals from above, reflects the global zeitgeist. “Wellness communities are very much on the rise,” says Ingo Schweder, founder and CEO of GOCO Hospitality. “The wellness industry moved from USD4.4 trillion in 2020 to USD5.8 trillion in 2023, representing over 6% of global GDP.” A frequent collaborator with Palleros, Schweder and his team are set to garnish the site with a wide array of spa and wellness services. Schweder met Aleksandr Chuvalov and Yana Chuvalova multiple times last year to further refine the wellness component of the project. “The key platforms are going to be beauty, wellness, and sports,” he says.

30% of the units were successfully sold at prices ranging from THB220,000 to THB350,000 per sqm, a stark contrast to the typical offerings of THB130,000 per sqm around the island. “The price point is done in such a way where that’s factored in for the financial feasibility of this project,” says Chandran. “The strategy was we want to build a green, sustainable ‘wow’ project where, of course, it has to be profitable, but profit wasn’t the biggest thing.” The first phase is now scheduled to be completed in December 2026. As construction progresses towards the endgame, Gardens of Eden is triggering the genesis of an improved, more internationalised Phuket. “We are inspired to make this region a better place to live for the global community,” says Chuvalova. “We feel strongly about the sustainability agenda of Gardens of Eden.”

With the ratio of open to built spaces at Gardens of Eden being maintained in perpetuity, the home prices reflect the long-term viability of the project. During the pre-sales phase, 77

JOSH CHYE BELIEVES THAT HLB’S GUIDANCE ON TAX MATTERS IS VITAL FOR CLIENTS ENTERING THE AUSTRALIAN MARKET

Guiding light Josh Chye of HLB helps clients entering the Australian market for the first time to negotiate the country’s tax system and legal environment BY BILL CHARLES

HLB HELPS EDUCATE CLIENTS, AND THEN SET UP WHAT IT HAS STRUCTURED FOR THEM

A lot of the challenge is summariSing complex or different perspectives to a new entrant, so they understand or learn about all the unique parts of Australian tax law

hen Josh Chye, the head of tax consulting for advisory and accounting firm HLB in Melbourne, meets with a new business client to discuss their plans for entering Australia, he typically shows them two slides. The first outlines all the different types of taxes they will face in Australia, including stamp duties, land taxes, goods and services taxes, and income taxes. Chye says he likes to compare Australia with its neighbours in Asia-Pacific—his clients include major developers from Singapore, Hong Kong, Malaysia, and elsewhere—to show them upfront that their tax rates in Australia are likely to be considerably higher than what they were accustomed to back home.

AUSTRALIA’S MATURE LEGAL ENVIRONMENT CAN BE A CHALLENGE FOR INVESTORS FROM ASIA TO NEGOTIATE

“I don’t do that to try and scare them, but to highlight some of the reasons they want to come to Australia in the first place,” he says. “We are a safe, certain, and mature market, and there’s a level of tax that comes with that.” Then he shows them a second slide spotlighting the various concessions that can help them to minimise or offset their tax burden. For instance, overseas companies that build housing stock in Australia can take advantage of concessions on land tax duties. Chye proposes long-term tax strategies for his clients, showing them in this second slide what that structure looks like. “It’s a well-trodden path to come into Australia for property development,” he says. “We’ve got some of the largest developers in the region here. We like to give our new clients that level of awareness, educate them, and then build a 82

strategy for moving forward. But it is vital to get them set up properly from day one.” Chye was in Bangkok, Thailand in December for the annual PropertyGuru Asia Real Estate Summit. In between sessions on AI’s impact on the real estate industry, the latest in sustainable development trends, and the future of smart cities, he took some time out for a chat. “It’s an action-packed agenda,” he says of the summit. “I think the organisers do a really good job of giving busy people the opportunity to learn as much as they can from different perspectives, including from best-in-class speakers from around the world.” He particularly enjoyed the focus on sustainability. “Returns ultimately come in many forms—not just financial,” he says.

“And it’s refreshing to be part of a community that aligns with that philosophy.”

AI is making a lot of news these days. Has it had much impact on your work in tax advising?

What were some highlights of the PropertyGuru summit?

I think AI will help us to deliver more valuable advice and get to solutions more quickly. If you ask AI a question, it typically gives you the most common denominator for an answer. But our job is to tailor our advice specifically for each client. So, AI can help us streamline processes and give us some starting points, and it enables us to find information more quickly, which is valuable. But for now, we only use it to handle basic tasks more efficiently and assist certain elements of our workflow that don’t require complex thought processes.

AI was a big topic this year, not surprisingly, discussing how people can use it to inform planning and decision-making, and how it can help operations from a business perspective. Another focus was the social impact of housing and how we need to design more beautiful spaces, and also be more socially conscious. It’s helpful to learn about these perspectives from architects and others. The concept of smart cities—and how new technology is going to be designed and delivered—was also interesting. There was also a lot of talk about the aspects of sustainability in development, which is very important.

What is a typical process of advising companies that are entering Australia? First and foremost, we want to talk with our clients about 83

JOSH CHYE SAYS THAT AUSTRALIA FACES A HUGE CHALLENGE IN ADDRESSING A HOUSING SUPPLY SHORTAGE

their commercial objectives. We spend time educating them about different taxes so they’re aware of all tax planning that should be considered. In Australia, once you sign a contract to buy a property, it’s hard to restructure it into a different entity without incurring significant time and cost. There are a lot of developers who focus exclusively on getting a deal done—and figure they can restructure it later. But at that point, they often learn there are a lot of additional costs involved in restructuring, particularly what we call stamp duty or landholder duty. This can be very expensive. The good thing about Australia is it’s a very mature legal environment, which is great if you are advised from the start. It can be quite seamless. But it is very problematic if you aren’t aware of that, and you make certain assumptions. There are certain parts of the tax law that are not commonly known unless you get advice. So, we try and help clients understand how to set up the right structure or tax strategy before they fund in Australia. And then we help them set up those entities, along with their lawyers, and help set up contractual arrangements to 84

maintain those entities. This lets us follow through on the overall tax plan to minimise the impacts. The goal is to be part of their extended team, long-term, in Australia. If we do a good job—we help educate them, and set up what we’ve structured for them—then we don’t just create entities but help maintain them all the way through. What do you like best about the work? What I like best is leveraging my technical and industry expertise—on tax, which isn’t always the sexiest topic—to ultimately build a relationship with our clients where we’re always learning from each other. I leverage my expertise and my firm’s broader scope of services to help them quickly get where they want to be, as one of their trusted advisors or business partners. What are the biggest challenges in providing tax advice to companies entering Australia? Australia has certain unique aspects that aren’t common around the world. So, for example, trusts are a common and

AUSTRALIA OFFERS A WELL-TRODDEN PATH FOR PROPERTY DEVELOPMENT

legitimate type of entity in Australia. But this is often not well known elsewhere in Asia Pacific, for example, and can be seen as an aggressive or contrived arrangement. A lot of the challenge is summarising complex or different perspectives to a new entrant, so they understand or learn about all the unique parts of Australian tax law. Often, they come from a lower tax jurisdiction, so they’re already a bit nervous about the headline rates in Australia. They might feel that back home they would structure things using a certain strategy, and they sometimes might think they should: “Buy first, do it later.” Whereas in Australia, you should always do it the other way around. Building trust with clients upfront is critically important. And that’s the biggest challenge for me. That’s why coming to a place like PropertyGuru, or being part of HLB’s global network, is valuable. Because if we work with people who refer one another, or who have relationships with developers, it significantly improves our chances of helping them understand that we’re supporting their best interests, whether it’s us directly or through our collaborators.

What are the biggest challenges specifically in Australia’s property market right now? Right now, it’s housing supply. It’s a big destination for migrants and that requires housing. So the government is focused on helping deliver more stock to people who need it. It is targeting building 1.2 million homes over the next five years, which in a population of about 22 million is significant. That would average 240,000 dwellings a year. But the most we’ve ever done previously in one year was 220,000 in 2017. The government faces the challenge of implementing the biggest housing reform and incentive plan the country has seen for a long time. Typically, developers often build to sell, but Australia is now trying to move toward build-to-rent. It’s a way to grow housing stock. The idea is very mature in the US and Europe. It’s still relatively new in Australia, but taxes are now available, and this potentially supports large institutional capital from overseas if they put money in to help Australia build up its housing stock.

ADVERTORIAL

ALL-ACCESS GLAMOUR Step into luxury as SMDC’s award-winning Glam Residences towers above the increasingly well-connected northern reaches of Metro Manila

As the most populous city in the Philippines, Quezon City sits at the epicentre of trade and commerce in the country. Headquarters to many companies ranging from media conglomerates to BPO firms, the northern city within Metro Manila is also a thriving lifestyle destination, with abundant points of interest for retail, dining, and entertainment, and site of central business districts and academic institutions.

from Quezon City to Pasay, home to the Ninoy Aquino International Airport (NAIA), to just over half an hour.

This area will only gain more prominence over the next few years with several transport infrastructure projects already under construction. One of these highly anticipated projects, MRT Line 7, will link the North Triangle Common Station in Quezon City to the province of Bulacan upon completion. The upcoming Metro Manila Subway will also cut travel time

One of its latest developments, Glam Residences, is setting the highest benchmark for connectivity among condominium projects in the country. Winner of the Best Connectivity Condo Development title at last year’s 11th PropertyGuru Philippines Property Awards, Glam Residences is conveniently situated near Triangle Park in North Quezon City. It is only a

The importance of connectivity to home buyers and renters in the Philippines could not be overstated. As workers lose precious time to the commute, the value of well-connected homes becomes apparent to many, especially SMDC, one of the nation’s leading property developers.

few steps away from GMA-Kamuning Station, which connects passengers to retail and business hubs in the northern part of Metro Manila (SM North & Vertis) as well as its South (Ortigas, Makati, MOA). Glam Residences will be one stop away from the forthcoming Grand Central Station, the interchange between the Metro Manila Subway and MRT 7 lines as well as existing lines like MRT 3 and LRT 1. Glam Residences is in an area teeming with restaurants, cafés, art galleries and studios, bars and lounges, and more. It is near learning institutions ranked among the best in Asia, such as the University of the Philippines and Ateneo de Manila University, making it a good place to stay for students.

ADVERTORIAL Every amenity at Glam Residences has been conceived in style. The gym, pool, Jacuzzi, and lounge spaces simply exude class and sophistication. A highlight is the 45th-floor lounge, affording residents and guests with exquisite city views. Overall, Glam Residences adopts a bold and minimalist approach to architectural and interior design. The T-shaped tower features LED accents, neutral hues, and horizontal lines that come together to form a captivating visual statement from every perspective. Glam Residences builds on SMDC’s reputation as a developer of perfectly integrated commercial and residential environments. The condominium tower also houses a versatile combination of communal and commercial spaces, establishing a ground-breaking standard for skyscrapers in the area. Built into the property is Glam Mall, offering everything from banks to retail stores.

The development houses splendidly designed spaces that deservedly garnered it the Best Condo Interior Design title at the 2023 PropertyGuru Philippines Awards. The interiors give a nod to Art Deco decadence with highshine lacquered finishes, metallics, and precious fabrications. The spaces are furnished and embellished with bespoke pieces with hints of champagne gold and glitz.

Glam Residences also exemplifies SMDC’s campaign to “Step Into Luxury”, reinforcing the company’s commitment to providing world-class communities for Filipinos.

Inspired by Hollywood, the Grand Lobby sets the tone for the rest of the project with its sublime ceilings, décor, lighting, and furniture.

The units are expertly designed to optimise the tower’s slender profile. Property seekers may choose from one-bedroom and two-bedroom units, which can be combined to create bigger homes or personalised to the resident’s tastes. Embodying glitz and glamour, this project is truly set to live up to its name. With its strategic location amid the Philippine capital’s most exciting transport developments, Glam Residences serves not only the glamorous lifestyle but also accessibility that is nothing short of luxurious.

Loom at the top Ausara Surface applies a passion for exploration to experimental textile collections that combine traditional craft with innovative fabrication techniques BY LIAM ARAN BARNES

arupatcha “Pook” Achavasmit can’t remember how many sewing machines she almost destroyed as a child. Growing up with her seamstress grandmother, the house on the outskirts of Bangkok was always packed with imported Singer machines awaiting resale. “I’d wander around, paddling the pedals and breaking all the needles. I was so mischievous,” she recalls. “Finally, when I was about three years old, my grandmother had enough. She sat me down on her knee and taught me how to sew. That’s really where it all began.” A few years later, Pook’s world expanded further. Bored in her botanist mother’s lab, she magnified her favourite Hello Kitty handkerchief under a microscope. “I remember it was 150 times bigger. I could see the entire structure,” she says. “It was so beautiful that I knew immediately that I had to learn how to weave.” Pook pursued this passion at King Mongkut Institute of Technology (KMIT) in Thailand, exploring textile, ceramic, and furniture design. Her academic journey then led her to the University of Michigan for a master’s degree in fine arts and later to Central Saint Martins in London for advanced studies in weave design. Throughout her time abroad, Pook kept in touch with close friend and fellow design student Shoson Thatawakorn. Shoson, a few years her junior at university, had a similarly creative upbringing, spending hours dismantling and reconstructing household objects, setting fires, and experimenting with chemical reactions. “My family wasn’t too pleased when I almost burnt down the house!” he says. His path also took him to KMIT, where he focused on product design, specialising in ceramics and textiles. Upon returning to Thailand and taking up a lecturing post at KMIT, Pook collaborated with Shoson on projects under the guidance of the world-renowned Alexander Lamont. It was during this period that the seeds were sown for their innovative venture, Ausara Surface. Since its launch in 2013, the duo’s complementary skills have been the cornerstone of Ausara’s success. Merging Pook’s weaving expertise with Shoson’s scientific acumen, they began crafting striking, vertical metal textiles for diverse applications such as walls, panels, blinds, room dividers, and hanging sculptures. Shortly after completing their first batch of swatches, Ausara received an order from the renowned Thai interior design firm PIA. Within months, Pook and Shoson’s work was showcased in the lobby and sales unit of Ashton Silom, then one of Thailand’s most expensive condominium developments.

JARUPATCHA ACHAVASMIT AND SHOSON THATAWAKORN HAVE APPLIED A SENSE OF DARING TO TEXTILE DESIGN AT AUSARA SURFACE

During those early days, we questioned our sanity. We wondered how people would perceive our unconventional textiles. But our initial clients believed in us. Sometimes I still think our clients are crazier than us! “During those early days, we questioned our sanity,” Pook reflects. “We wondered how people would perceive our unconventional textiles. But our initial clients believed in us. Sometimes I still think our clients are crazier than us!” Their distinctive approach is categorised into two main areas: floating sculptures and hard panels. The floating sculptures, crafted from light metal weaving, exploit the advantages of metal fabric—shiny, lustrous, luxurious, yet remarkably lightweight. This allows for suspended installations without additional structural support, blending aesthetics and practicality. For hard panels, they manipulate the malleability of metal fabric, creating origami-style wall coverings through laminating, wrapping, warping, and curving. This nuanced approach has set Ausara apart in recent years. Shoson notes a significant shift away from self-production among major labels in America and Europe. Historically, the emphasis was on inventiveness and introducing new concepts, often influenced by French design. However, the present trend sees labels creating samples and outsourcing production to countries like China, India, and Mexico. The outsourcing trend, Shoson observes, has contributed to a certain homogeneity, diluting the uniqueness that once defined the industry. The challenges escalated during the pandemic, with production issues in China due to the US trade war and Europe grappling with cost constraints. The pandemic subtly impacted other aspects of the business. When the world paused, Pook, like many, found herself with ample time for reflection. Escaping Bangkok for the nearby seaside resort of Hua Hin, she spent evenings walking along the coast, disheartened by the constant stream of rubbish washing up the beach.

“I felt sorry for the ocean because the waves were tirelessly returning plastic and trash, one wave after another,” she says. “So, I thought, okay, it’s time we take care of our planet.” The solution was to embrace sustainable materials, particularly agricultural waste that is abundant in Thailand. The process involves meticulously flattening corn husks—otherwise unusable even for animal feed—and applying metal powder and dust. The result: panels crafted from what was once considered waste. Moreover, since Ausara predominantly works with metal, a material almost entirely recyclable, the business naturally operates sustainably. Their minimal use of chemical dyes and pigments, instead relying on the patina technique, further underscores their commitment to the environment. This shift towards greater sustainability wasn’t just an internal decision, but a response to evolving client expectations. As Pook notes, luxury brands and five-star hotels, once hesitant to use recycled materials, now embrace them as a statement of environmental responsibility. “We’re lucky because we work in the luxury segment and therefore have the luxury to afford the extra costs associated with upcycling,” she explains. “But for those operating in the mass market, it’s still not compatible. It’s not possible to compete with the virgin material. If the whole world is to be more sustainable, then we have to beat it with an economy of scale.” Ausara’s recent foray into repurposing agricultural waste reflects not just a commitment to sustainability but also its founders’ inherent curiosity. From mischievous childhoods driven by a spirit of inquiry to pushing the boundaries of metal weaving, Pook and Shoson’s lifelong journey continues to be shaped by their dedication to turning the ordinary into the extraordinary.

Ashton Silom In Ashton Silom’s design, hand-patinated brass fabric transforms from a mere decorative element into a living narrative. Shoson describes it as a canvas that “breathes and changes,” acquiring a patina that tells its own story, adding depth and authenticity to the space. Complementing this is the use of handwoven multimedia for artwork display. These tactile, immersive pieces transcend traditional two-dimensional art, introducing a textural dimension that captures craftsmanship and artistry. “Together, these elements redefine the interior as an evolving work of art, at the forefront of contemporary design trends.”

CAMIN The walls of this Bangkok restaurant are adorned with captivating artworks, with art meeting innovation in pleated copper fabric. These pieces, emulating a vibrant school of fighting fish, underwent a transformative heating and handplating process. Pook describes the result as “a stunning display capturing the essence of aquatic motion and the mastery of craftsmanship that transcends conventional art, inviting diners to immerse in the dynamic beauty of pleated copper. This medium breathes life into an underwater ballet, blending nature’s elegance with artistic expression.”

Hyde Heritage At The Hyde Heritage in Bangkok, elevating luxury to an art form involved a unique touch—giant-scale handwoven leather panels that elegantly cloak the lift tube. Each panel is meticulously crafted, bearing individual designs that showcase the artistry of handweaving. “Assembled onsite with stainless steel bands, these panels seamlessly unite, concealing seams and transforming the lift space into a seamless canvas of tactile opulence,” Shoson says. “The result is not merely a functional lift but an immersive journey through craftsmanship and design, where handwoven leather becomes a living tapestry of elegance, making each ascent or descent at The Hyde Heritage an artistic experience.”

Quinn The attention-grabbing lobby at this upscale Bangkok condo building is defined by its breathtaking brass fabric chandeliers. Designed with multiple layers of hand-formed and patinated brass fabric, these chandeliers are not mere light fixtures but dynamic artworks. “The interplay of light and shadow on the textured brass layers creates a mesmerising display, turning the ceiling into a canvas of ever-shifting beauty,” Shoson says. “The intricate art of hand-forming and patination transforms raw materials into luminous sculptures, elevating the ambience, leaving an indelible imprint of sophistication on the space.”

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Marriott Surawong The Marriott Surawong is a testament to handwoven textile artistry. Its walls blend stainless steel stripes, supple leather, and natural fibres, “creating a tactile masterpiece that transcends conventional wallcoverings,” according to Pook. The randomness of the repeat pattern adds organic charm, making each inch a unique craftsmanship expression. “It becomes more than a hotel; it’s a sensory canvas where traditional techniques meet contemporary luxury.”

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The One Bangkok The One Bangkok features meticulously crafted pure brass coverings, undergoing a double lamination process and merging with grasscloth wallcoverings. Pook describes this as “a dual visual spectacle, reflecting light with metallic brilliance, transforming the space into an ethereal realm. The brass covering, soft to the touch, invites tactile exploration, creating a symphony of metallic sheen and gentleness, elevating the sensory experience in a harmonious union of opulence and craftsmanship.”

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THE MUST-HAVE PRIZE IN ASIAN REAL ESTATE AsiaPropertyAwards.com 104

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On island time BY JONATHAN EVANS

Phu Quoc’s remarkable transformation from a sleepy tropical backwater to an international tourism destination has helped make it one of Vietnam’s hottest prospects for investment

Meyhomes Capital Phu Quoc

Sailing Club Signature Resort Phu Quoc

VinWonders

An “integrated mega-city” covering 266 hectares, Meyhomes Capital shows no lack of ambition. There are 2,484 residential units across the gigantic area, designed by international practices including HBA architecture. It’s conceived as Phu Quoc’s new economic, cultural, and financial centre—meeting such disparate needs as retail, sports, education, tourism, and entertainment. The units themselves are immediately striking with multicoloured balconies and window frames. Its sustainable focus on saving materials, incorporating nature, and building cleanwater facilities also impresses. Three tropical parks (Lake, River, and Ocean) highlight the communal spaces along with a “Dream Theatre”, a floating stage and futuristic interactive art area.

The Sailing Club has become hugely popular as a family resort for visitors to Phu Quoc. The villas’ bright, Nordic-style interiors from Ho Chi Minh City’s KAZE practice, with glass doors and no partitions, emphasise space and are “designed to bring the outside in”. A brise-soleil system, meanwhile, deflects excess sunlight. Stone, wood, and leather bring a quasi-rustic feel to kitchens, lounges, and bedrooms, while each villa comes with a private swimming pool; a communal park takes up 20% of the resort’s area. Sailing Club is also the island’s first pet-friendly resort, and furbabies receive a “puppuccino” on arrival. Two-legged friends may feast on Vietnamese-Western fare at the all-daydining restaurant Sandals, The Market.

Vietnam’s largest theme park, VinWonders comprises six distinct areas covering. Designed to recreate famous destinations and civilisations; tell mythical stories; or stage performances like circus acts, Aboriginal and Hawaiian dances, and a sonet-lumière fountain show, it appeals to the young and young-at-heart. Key attractions include the Garden of Five Continents; a Flying Cinema that simulates taking in mid-air views of Europe, with sensory effects adding to the (virtual) reality; and Tata World River Adventure and Tata’s Fairy Land, which narrates classic European fairy tales. Launched post-pandemic, the theme park in Phu Quoc’s northwest corner is an offshoot of the Vingroup corporation, whose subdivisions include entertainment, retail, and automobiles, and which also operates an animal conservation program on the island.

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Marooned in the Gulf of Thailand, Phu Quoc is Vietnam’s largest island, and its special visa-free arrangement for foreigners has made it one of the country’s most sought-after destinations. Indeed, the exemption, instigated a decade ago, helped trigger a wave of development, and this formerly forested domain is now replete with luxury five-star resorts. Superior medical tourism, MICE venues, a small population, a well-connected airport, and a real estate boom all make the island an ultra-desirable destination for locals and foreigners looking to relocate.

Sun World Hon Thom Nature Park

Cable car island excursions

InterContinental Phu Quoc Long Beach Resort

Sun World Hon Thom Nature Park is a key destination of the world’s longest sea-crossing cable-car line, covering adistance of almost 8,000 metres. The aerial approach reveals white sands and pristine jungle after a 15-minute ride from An Thoi station. It’s been described as the “Pearl of An Thoi Archipelago”—the group of small islands south of Phu Quoc—and is a haven for fanatics of watersports such as kayaking, jet-skiing, and diving among corals. But the biggest draw is Aquatopia Water Park, one of the region’s most advanced aquatic attractions, which opened in 2019. It includes six themed zones that encompass everything from tropical fruits, marine creatures, and sea monsters to pirates.

Phu Quoc’s extensive, record-breaking cable-car network in the south of the island is the only way to appreciate the natural wild splendour of “Nam Dao Pearl” from above. It also bears the distinction of being the world’s longest non-stop cable car. The 8-kilometre, interlocking nexus of mid-air terminals graces An Thoi archipelago—its best-known stop being Hon Thom, aka “Pineapple Island” while An Thoi, Hon Dua and Hon Roi complete the station quartet. The 24-hour facility, with its advanced three-wire technology, has WiFi-equipped cabins illuminated by night, allowing passengers to view islets, coral reefs, and fishing villages at any hour. Noteworthy sights include the renowned Sao Beach; a pearl farm; Ho Quoc Pagoda, the island’s largest Buddhist temple; and the notorious, Vietnam War-era Coconut Prison.

A stunning beachfront resort located a short drive from both the airport and Phu Quoc’s main town Duong Dong, this immaculate five-star—which opened in 2018—has holidaymakers’ bases covered. Discerning diners will feel at home in this gourmet wonderland which encompasses the design-forward LAVA, Sora & Umi allday dining, and the alfresco Sea Shack and Ombra restaurants. Mixology haven Ink 360, Phu Quoc’s highest sky bar, towers over the resort. Planet Trekkers Children’s Club caters amply to youngsters, while culinaryminded kids can learn local recipes.

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IN SEARCH OF SPACE Asia’s resort residence market is witnessing a shift as investors eye larger, multifunctional units at projects that place an emphasis on sustainability BY LIAM ARAN BARNES

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STUNNING RESORT RESIDENCES SUCH AS THANH XUAN VALLEY IN VIETNAM CONTINUE TO RAISE THE BAR AROUND ASIA

n the wake of a global shift in luxury lifestyle preferences, Asia’s resort residence market is undergoing a transformation. Once anchored in traditional concepts of high-end living, it is now adapting to post-pandemic changes, shaped by evolving consumer demands and the rise of new destinations. The most significant development is the increasing demand for spacious, multifunctional properties, reflecting a wider shift in the luxury real estate market, where comfort and functionality are becoming as important as traditional luxury elements. Indeed, a recent Knight Frank report indicates that 45% of luxury buyers now prioritise larger homes in response to recent global changes.

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“Post-pandemic, there’s a clear preference for larger spaces, as people seek properties that cater to both work and extended stays,” says Bill Barnett, co-founder of C9 Hotelworks, a leading hospitality and property consultancy. This buyer preference evolution is paralleled by an ongoing emphasis on sustainability. A recent study by JLL revealed that 73% of millennials are willing to pay more for sustainable offerings, a trend increasingly evident in luxury real estate. “Sustainability is no longer an afterthought in luxury property development. It should be a key selling point,” Barnett adds. “Developers are starting to realise that green initiatives not only benefit the environment but also add long-term value to their properties.”

of branded residences over the past decade, with the trend expected to continue. Internationally mobile, high-net-worth individuals, less reliant on debt to finance their purchases, will continue to drive demand for these branded residences, according to Eri Mitsostergiou, director of world research at Savills. “We anticipate new high-net-worth buyers to be looking for primary residences and second homes in branded schemes,” she says. “Future hotspots may include some of the cities that are going to witness a strong rise in such wealthy individuals, including Jakarta, Ho Chi Minh City, Beijing, and Shanghai.” Other emerging areas include Japan’s winter resort destinations, like Hakuba, which has been attracting buyers who would traditionally have invested in established Niseko. Bohol in the Philippines, known for its natural beauty, is also becoming an indemand destination for branded and nonbranded resort residences, according to Barnett. However, challenges like the rising costs of hotel branding and complex property management legalities are prompting a more cautious approach in the market. “It’s a sellers’ market for brands, but developers and buyers are becoming more vigilant,” adds Barnett, although he notes that these challenges could potentially drive innovation in the sector, as developers seek to balance brand prestige with operational practicality and profitability.

He highlights Six Senses for their sustainable ethos in the branded residences field, as well as the recently launched Gardens of Eden resort community in Phuket, which is pushing a dedicated green space ratio of 70%. Barnett says this is one of the factors behind the mixed-use project’s early success. This focus on sustainability is part of a broader shift that includes a move towards urban properties and an expansion of brand offerings beyond traditional hotels. Indeed, the future of Asia’s resort residence market looks rosy, with brands scouting new locations to increase their market share. A July 2023 report by Savills noted that the APAC region has already witnessed a 216% increase in the supply

As we look towards the future of Asia’s resort residence market, it’s clear that the industry is not just adapting to postpandemic changes but is pivoting to the new demands associated with luxury living. From eco-conscious developments in Phuket to the rise of urban branded residences, the market is responding dynamically to the needs of a new generation of discerning, globally minded buyers.

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AURELIA RESIDENCES

Where?

Wow factor

Nestled amidst the Manila Golf Club, Manila Polo Club, and Forbes Park, Aurelia Residences offers an oasis in a bustling metropolitan setting. Renowned for its mix of upscale dining, shopping, and entertainment, this location is ideal for buyers seeking both exclusivity and convenience.

Slated for completion in 2024, the project stands out with its architectural elegance and attention to detail. Its defining characteristic is sprezzatura, an embodiment of sophistication that permeates its design. More than 5,000 square metres of world-class amenities, including a sprawling 40-metre resort pool, jacuzzi, and sauna, are sure to grab the attention of aesthetes and athletes alike.

Why buy? This Shang Robinsons Properties project boasts a limited collection of 285 bespoke units, featuring an assortment of three-bedroom, four-bedroom, and penthouse layouts. Its notable fusion of modern luxury with classic Italian style is the brainchild of esteemed architects and designers like Skidmore Owings & Merrill LLP and FM Architettura d’Interni, promising a unique investment opportunity in a rapidly growing business district.

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HANACREEK

Where?

Wow factor

Hanacreek offers a blend of tranquillity and adventure in the forested enclave of Hanazono. Situated near Niseko Ski Resort and under Mount Yotei’s gaze, it serves as a gateway to both serene landscapes and a skier’s paradise, where natural beauty is an everyday experience. The proposed extension north of Hokkaido’s Shinkansen line further enhances its appeal.

Each plot’s private onsen access is just the beginning. Future highlights include a clubhouse, fine dining, spa, and gym, creating a community that transcends individual properties. These facilities are designed to enhance the beautiful natural setting, offering a holistic living experience.

Why buy? Hanacreek stands out in Niseko for its innovative approach to upscale living. Offering 80 plots ranging from 10,750 to 226,600 sq ft, it gives residents the flexibility to design personal retreats or mixed-use properties. Led by Riccardo Tossani Architecture, this project marries environmental consideration to sophisticated living, allowing investors to tailor their space to their unique vision.

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KURRABA RESIDENCES

Where?

Wow factor

Perched on Sydney’s iconic harbour in a coveted suburb, Kurraba Residences offers breathtaking views of the Lower North Shore. Surrounded by parks and nature reserves, SJB’s architectural vision ensures its contemporary aesthetics harmonise with the verdant landscape.

Kurraba Residences sets itself apart with exclusive amenities and services for its residents. These include a wine cellar room, dining area, secure garage with lift access, concierge service, and a communal rooftop garden with BBQ facilities. Completed in 2023, it redefines standards for harbourside living in Sydney, offering a lifestyle that combines luxury, convenience, and nature.

Why buy? The charm of Kurraba Residences lies in its exclusive two-, three-, and four-bedroom apartments, including a lavish fourbedroom penthouse with a private rooftop garden. Echoing the classic 1920s apartment buildings synonymous with Sydney’s harbour, the brick-sculpted architecture reaches out to the water, symbolising harmony with the harbour’s natural beauty. Interiors by Mathieson Architects exude the luxury expected of a premier private home.

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RAINBOW SPRINGS CONDOVILLAS

Where?

Wow factor

Located near Jakarta in “The Springs” of Summarecon Serpong, South Tangerang, Rainbow Springs CondoVillas is an opulent escape from urban life. Emphasising green, open spaces, the project stands out in an area enriched by lush settings. The heart of the project is its outdoor tapestry— seven gardens, including the Blooming Oasis and Lakefront Esplanade, that bring nature to residents’ doorsteps.

It’s a playground for all ages, merging natural amenities with leisure spaces. Highlights include a members’ club, pool, youth village with a skate park, and more, all embodying family-centric and nature-embraced living.

Why buy? This development is characterised by its fusion of contemporary villa comfort with expansive outdoor facilities. The 32 low-rise buildings reflect thoughtful design, optimising space, light, and privacy. Their architecture is in harmony with the surroundings, providing lakeside and garden views that enhance the tranquil appeal.

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RAWAYANA BEACHFRONT VILLAGE

Where?

Wow factor

In Phuket’s prestigious Rawai neighbourhood, Rawayana Beachfront Village by Phuket9 spans 4,500 square metres of lush landscape. This development is a perfect blend of peace and convenience, situated moments from sandy shores, ideal for those searching for an elegant coastal bolthole.

Rawayana Beachfront Village elevates the residential experience with an array of dynamic leisure and lifestyle amenities. This community heartbeat includes an international food supermarket, a children’s entertainment park, and a variety of communal facilities. From the rejuvenation clinic to the sports complex, every aspect is designed to enrich the communal life.

Why buy? The village offers a range of living spaces from cosy onebedroom apartments to expansive six-bedroom units. Each residence is a seamless fusion of contemporary style with organic accents, where wooden floors meet large windows, blurring the lines between indoors and outdoors.

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THUNG LŨNG THANH XUÂN (THANH XUAN VALLEY)

Where?

Wow factor

Located 40 kilometres west of Hanoi, Thanh Xuan Valley offers a much-needed escape from Vietnam’s boisterous capital. This upscale development blends contemporary living with the surrounding, picturesque pine forest valley, establishing a sophisticated residential haven close to urban amenities.

The project stands out for its integration of advanced technology and nature. A virtual concierge application enhances the resident experience with features like in-home camera surveillance and automated plant watering. The development’s commitment to an eco-friendly and healthcentric lifestyle is also evident in its five-star resort area, healthcare centre, and ecological amusement area, all set within a stunning pine forest.

Why buy? Thanh Xuan Valley, poised for completion by 2026, spans almost 2 million sqm with 1,079 units, each boasting ample space and upscale fittings. With architectural design by WATG and landscape design by Coopers Hill, it represents a unique investment opportunity in a rapidly growing area.

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ADVERTORIAL

SERENITY BY THE SHORE A pleasanter alternative to Thailand’s wild resort towns, Hua Hin charms families, retirees, and expats with brilliantly designed villas that offer a balance of leisure, wellness, and comfort

Thailand is awash with picturesque seaside addresses, but for those looking to retire or raise a family, they need destinations that radiate calm as opposed to places with a rowdy atmosphere. Hua Hin is one of those better choices, offering a peaceful, tranquil environment where families and retirees can live, thrive, and be their best selves. Long a hit with well-heeled weekenders from Bangkok, Hua Hin has grown attractive to expats with its heady mix of world-class golf courses and wellness facilities. Just a three-minute drive from Banyan Golf Course along Soi 112, La Felice Villa Hua Hin beckons to such serenityseeking home buyers. Seasoned developer PNP Real Estate, recipient of the Best Breakthrough Developer (Hua 118

Hin) title at the 18th PropertyGuru Thailand Property Awards, brings its expertise and innovation to the project, comprising 16 luxury pool villas. Designed by the esteemed Mobius Studio, this elite collection of homes showcases architectural finesse, combining modern design with traditional Thai aesthetics. This flavourful contemporary style comes alive with wooden accents and a warm colour palette, creating an inviting ambiance for residents and guests. The spacious living areas of the units boast a 5.2-metre-tall ceiling and wide windows, revealing breath-taking views of the sunrise and sunset above the hills surrounding the community. La Felice Villa Hua Hin encourages homeowners to personalise their homes. High-quality materials and

meticulous craftsmanship ensure each villa is a unique masterpiece. From the exterior facade to the custom-made furniture, every aspect is thoughtfully designed to exceed customer satisfaction. The project deserves acknowledgment for its commitment to sustainability. La Felice Villa Hua Hin is made to coexist harmoniously with nature by utilising local materials and minimising carbon impact as much as possible. The project supports local suppliers, whose materials add hints of local charm to the design. La Felice Villa Hua Hin’s resort-style amenities let residents sit on the lap of luxury. The infinity pool, using an overflowing system with a marble floor, mirrors the elegance of high-end hotel pools. Multiple rooms open directly to

ADVERTORIAL

the pool, seamlessly connecting indoor and outdoor living. The pool deck area is suitable for family gatherings as much as moments of quiet contemplation. The project gives homeowners a glimpse of the future through smart home technology. La Felice Villas are equipped with state-of-the-art innovations, allowing homeowners to control every aspect of their homes remotely. Homeowners can also monitor their sanctuaries from anywhere in the world, ensuring peace of mind and security. PNP Real Estate understands that some homeowners are abroad and not

always present in Hua Hin. With that in mind, the developer makes sure to always bring clients up to speed about the construction and management of their properties through constant private communication and updates on social media and the official website. Prioritising residents’ safety, La Felice Villa Hua Hin provides 24-hour security, CCTV surveillance, and even a license plate recognition system. With the latter, advanced algorithms can recognise authorised vehicles, ensuring the utmost security within the gated community. La Felice Villa Hua Hin offers not just a home but a lifestyle. Due to

its convenient location near central Hua Hin, the development is near attractions and entertainment, with BluPort Shopping Mall only 10 minutes away from the site. But the address is also far enough for residents to enjoy the peace and quiet they crave— the perfect blend of serenity and accessibility. La Felice Villa Hua Hin invites property seekers to experience luxury villa living in one of Thailand’s best retirement and resort destinations. Surrounded by natural beauty but near modern conveniences, and steeped in architectural brilliance, these dream homes are gateways to paradise.

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RISK AND REWARD

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Rapid credit growth and high private sector debt are putting pressure on Cambodia’s property market. But opportunities are plentiful for investors willing to roll the dice BY AL GERARD DE LA CRUZ

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PHNOM PENH’S SKYLINE HAS WITNESSED A REMARKABLE TRANSFORMATION OVER THE PAST DECADE OR SO

ambodia is not quite the country it once was, but plenty of familiar patterns and trends continue to manifest.

The economy, the IMF predicts, will be Southeast Asia’s fastest-growing in 2024, but risks lurk. The nation is also under new management, albeit an extension of the political establishment. Like most countries, Cambodia has not been immune to the anaemic global economic growth witnessed since the pandemic and the conflict in Ukraine, evidenced by slumping merchandise exports and diminished manufacturing jobs. The heavily dollarised economy has also been under the strain of tight US monetary policies. Despite high borrowing costs, construction, real estate, and mortgages contributed 43% to total credit growth in February 2023, up from 37% during the same period in 2022, according to The World Bank. More worryingly, the country’s credit-to-GDP ratio hit a monstrous 183.7% in 2022. “The recent rapid credit growth and relatively high private sector debt, with a concentration in real estate related 122

exposures, pose key risks to Cambodia’s macro-financial stability,” warns The World Bank. Experts attributed the heightened debt in the real estate sector to, among others, shadow banking and speculation. Meanwhile, property seekers continued to face cashflow constraints, with the government prolonging its pandemicera cash transfers to poor, disadvantaged households by another year. “The supply was very high even before Covid hit,” says Sorn Seap, president of the Cambodian Valuers and Estate Agents Association (CVEA). “There’s uncertainty in the market, so people don’t want to invest in the property market, especially in residential.” As of the third quarter of 2023, Phnom Penh had an inventory of over 53,000 completed condominium units, according to CBRE Cambodia. Alongside the surge of supply, an abundance of condo rental units entered the market. In the meantime, average condo sales prices saw a year-onyear decline, ranging from 1% to 4.1% across high-end to affordable units.

A NEW HIGHWAY LINKING PHNOM PENH WITH SIHANOUKVILLE HAS GIVEN THE COASTAL CITY A HUGE BOOST

FRIENDSHIP GOALS In his inaugural overseas visit in October, Cambodian Prime Minister Hun Manet participated in the Belt and Road Forum for International Cooperation and held discussions with Chinese President Xi Jinping in Beijing. This meeting was designed to strengthen ironclad ties between China and Cambodia, with Xi calling 2024 the “Year of People-to-People Exchanges” between the two nations. Supporting Cambodia’s Pentagonal Strategy, Xi also expressed backing for agricultural trade and tourism. Several significant Belt and Road projects, including the Siem Reap Angkor International Airport and Phnom Penh’s Ring Road 3, were publicly inaugurated in 2023, contributing substantially to Cambodia’s economy. Penn Sovicheat, spokesperson for the Cambodian Ministry of Commerce, deems such initiatives pivotal for economic growth. He envisions that the Regional

Comprehensive Economic Partnership (RCEP) and the China-Cambodia Free Trade Agreement will aid the country in graduating from least-developed status by 2027, even attaining high-income status by 2050. China constituted 66% of fixed-asset investment in Cambodia and ranked as its third-largest source of foreign visitors in 2023. “We want more Chinese tourists as they have importantly contributed to our economic and tourism development as well as poverty reduction,” Top Sopheak, spokesperson of the Cambodian Ministry of Tourism, tells Chinese state media. In contrast, Cambodia grappled with challenges in its exports to the US, experiencing a 4.8% year-on-year decline in the first eight months of 2023. The US criticised Cambodia’s election last year, denouncing it as “neither free nor fair.”

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Now is a very good time for foreigners to come and look at the Cambodian real estate market. You have more choices—good location, good property, good price The price corrections, although not as steep as 2020, have attracted opportunist bulk purchasers hoping to capitalise on the lull. “Now is a very good time for foreigners to come and take a look at the Cambodia real estate market,” says Sorn. “You have more choices—good location, good property, good price.” CBRE Cambodia noted a shift in focus towards affordability among launches, with developers hoping to court local buyers amid sluggish international demand. For its part, major developer OCIC Group has purposely kept the price points of its awardwinning new condominium project Diamond Bay Garden accessible to locals. “Given the current environment, I think it’s quite strategic for now to have Diamond Bay Garden successful at a relatively affordable price,” says Thierry Tea, vice president at OCIC. Phnom Penh also saw over 400 landed property developments completed by Q3, reports CBRE Cambodia. Landed housing in the metropolis continues to scale new heights of quality, with award-winning examples like Siha Residence at 60M Road and the Star Mera Garden project in Dangkao. Price corrections among landed developments persisted though. The gap between asking and achieved prices widened, with asking prices for single and twin villas and shophouses plunging yearon-year by 13% to 14%. “A few years before 2023, a lot of local buyers invested in a residential property because they had made high profits, especially in 124

landed housing,” says. “But now people have to focus on their businesses and day-to-day income.” Historically, local property seekers tend to prefer living in boreys or gated communities, in contrast to the condo market which is dominated by foreigners. Phnom Penh’s average land values remained stable at USD2,300 per square meter in H1 2023, consistent with the previous year, according to CVEA. Certain districts, such as Daun Penh, Boeung Keng Kang, and 7 Makara, reached as high as USD5,340 per sqm. Yet developers found themselves holding more community events in 2023 to boost promotion for landed projects, according to CBRE Cambodia. “I advise local developers to not build for investment. They should build for the firsthome buyer,” says Sorn. “When Cambodian developers build property for investors, then it’ll only add more supply to the market.” The resurgence of tourism is set to provide an uplift to the economy and property sector. With about 5 million visitors to Cambodia from January through November, the associated influx of foreign spending is expected to unlock more capital for local property buyers. Relying solely on local buyers is insufficient to support the landed market though. “We also need to attract more foreign buyers to come and invest in the Cambodia property market,” says Sorn. “We should not allow for foreigners to own properties everywhere, but for some certain projects, we could allow, in certain portions, for them to have the opportunity to invest in landed property.”

HUN MANET, WHO ASSUMED THE PRIME MINISTERSHIP FROM HIS FATHER LAST AUGUST, HAS REINFORCED THE COUNTRY’S STRONG ALLYSHIP WITH CHINA

The most viable option for foreigners to own land in Cambodia is through the 2019 Trust Law, allowing them to acquire landed property by appointing local trustees. In November 2023, trust registrations numbered 683 cases, equivalent to USD1.223 billion in investments, according to the Trust Regulator. Foreigners accounted for 552 of the registrations. China, traditionally the leading source of tourists in Cambodia, gave a modest turnout last year, surpassed by Thailand and Vietnam. Despite exceeding the 90,000 visitors in 2022, the figure remained lower than the 2.3 million recorded in 2019, with just over 498,000 visitors by November. Not all Chinese ventures in the country have been wellreceived. Cambodia is still reckoning with the fallout from the 2019 crackdown on online gambling that led Chinese investors to abandon construction projects in the port city of Sihanoukville. In November 2023, the government unveiled a

raft of tax and non-tax incentives for investors to take over the stalled projects, totalling almost 400. Still, China was the top fixed-asset investor in Cambodia last year, outpacing Singapore and Malaysia, according to the Council for the Development of Cambodia. The country remains in Cambodia’s good graces for financing such projects as the newly opened Siem Reap International Airport and the 187-kilometre Phnom Penh-Sihanoukville Expressway. Hun Manet, who assumed the prime ministership from his father Hun Sen in August, has reinforced the country’s strong allyship with China. The new government’s agriculture modernisation programme could further stimulate the market. Hun aims to steer the nation from family-based farming to large-scale commercial operations, deploying hundreds of agricultural technical officers (ATOs) to boost the country’s produce. 125

SIEM REAP’S NEW INTERNATIONAL AIRPORT IS EXPECTED TO SPARK AN UPSURGE IN TOURIST NUMBERS AT HOTSPOTS LIKE ANGKOR xxx

“Political stability in Cambodia is a promising sign for the residential property market, and agriculture and tourism will contribute more to the economy,” says Sorn. “When our agricultural products have more competitive advantage in the global market, we can sell more. People will have more money to invest in property.” To realise his economic vision, Hun is expected to make revenue collection a cornerstone of his rule. The administration aims to implement the long-delayed Prakas No. 346, expanding the capital gains tax beyond business entities to individuals and nonresidents by the end of 2024. Additionally, tax authorities intend to impose a levy on unused land measuring 5 hectares or more in 2025. “Landowners should use lands for business activities to make a profit instead of leaving it vacant,” the prime minister declares. 126

The new government would be prudent to adapt to the prevailing buyer’s market conditions. Properties continue to be available at a discounted rate, ranging between 30% to 40% below pre-Covid levels, with associated rental yields remaining attractive at 5% to 7% annually. “I don’t see people investing in ‘normal’ property anymore,” says Sorn. “They’re looking for only the best property in terms of location, price, return on investment, and rental cash flow. These are the things that will happen in 2024.” Despite the bearish market sentiment, there is optimism that this trend will not be for long. “The opportunity, it’s just like ice cream,” says Sorn. “If you let it wait, it will melt.”

TWIN TROUGHS In 2023, office and retail development contended with challenges as tenants sought high-quality spaces and vacancies skyrocketed. In the third quarter, CBRE Cambodia observed a lack of new launches and completions for office projects in Phnom Penh, with occupancy rates averaging just 64.2%. Average quoting rents for lower-grade buildings experienced a year-on-year decrease of as much as 6.5% while those for Grade A buildings remained stable. Due to more affordable rents, tenants are taking advantage of the market to transition to superior office buildings. A new trend is emerging, with tenants

moving from informal office setups to well-managed spaces featuring enhanced amenities. Heightened competition and sluggish leasing activities resulted in a delay of half the anticipated retail supply by Q3. Despite declining rents, numerous retailers either halted expansion plans or ceased operations entirely over the preceding six months. “We are already used to shopping online. Now people go to shopping centres to have fun and be entertained,” says Sorn Seap, president of the Cambodian Valuers and Estate Agents Association (CVEA). “Office space is also similar to retail. A lot of people are used to working from home.” 127

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JUMP TO IT Indonesia’s outgoing government is banking on tax breaks on property purchases and incentives for foreign buyers to revive the country’s residential sector BY GEORGE STYLLIS

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ike the calm before a storm, Indonesia’s property market goes quiet before an election.

While no political storm is expected to accompany February’s result, the market remains cautious. Behind the scenes, however, the incumbent government has been working to ensure the property market is in better shape when it leaves, following years of sluggish growth. The segment most in need of a boost is the apartment sector which has virtually flatlined over the past five years and faces a challenging start in 2024. In the past three years, demand for units has been largely driven by end users rather than investors. And those who intend to live in a property are most attracted to ready-made units. Since the pandemic, the supply of new apartments has slowed in line with a slowdown in sales, resulting in a chickenand-egg situation. With demand low, developers are reluctant to build new stock. And without the promise of fully built units, buyers are not willing to commit to projects under construction. That has led to disappointing data, especially in Jakarta, where apartment prices have increased by only 1.73% from 2020 to 2023, according to Colliers. On the supply side, the apartment sector contributed only 13,927 new units from a total of 24 projects from 2020 to 2023, a 60% decrease compared to the three years before the pandemic. The picture has been similar to Indonesia’s second-largest city, Surabaya, where prices have moved slowly and are expected to grow by just 2% to 3% by the end of 2025. Demand for landed housing, by contrast, remains strong across the country. “Over the past year, we have seen mixed results in the property market,” says Vivin Harsanto, senior director at JLL Indonesia. 130

WITH INVESTORS EYEING LANDED PROPERTY IN JAKARTA’S SUBURBS, THE CITY’S APARTMENT MARKET IS IN DIRE NEED OF A BOOST

ON THE RIGHT TRACK Indonesia’s first high-speed train launched in Indonesia in November, connecting Jakarta to Bandung 140 kilometres away. Aptly named Whoosh, the Chinesebuilt railway gets close to its top speed of 350km/h in just 10 minutes after departure. The venture has been well-received, increasing in service frequency and maintaining passenger occupancy above 80%. The only other means of commuting between the two cities is to take the Argo Parahyangan train, which takes three hours. Now it can be done in one. One first-time passenger says everyone should experience the journey at least once. “It’s worth it, and now I’m hooked”. The service starts at Halim Station in Jakarta’s eastern suburbs and ends at Tegalluar Station. The USD7.3-billion high-speed railway was one of President Joko Widodo’s flagship infrastructure projects and part of China’s Belt and Road Initiative. It was due to launch in 2019 but was beset by problems, including obstacles to land procurement, pandemicrelated delays, and spiralling costs.

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RELAXED RULES ON FOREIGN OWNERSHIP ARE EXPECTED TO SPUR REAL ESTATE SALES IN DESTINATIONS SUCH AS BALI

“Landed residential, logistics, and data centres are still strong, whilst retail is relatively stable. Office and high-rise residential are on the slower side due to the amount of supply in the market and market sentiment for buying condominiums. Lastly, there’s lots of activity in the industrial real estate market, and the hotel business has returned to its pre-pandemic level.” The government unveiled a raft of measures ahead of February’s election to revive the residential sector. In November, the government introduced new tax breaks for property purchases priced up to IDR2 billion (USD126,000) that would last until June this year. After that, a 50% discount on VAT will be applied. It has also relaxed requirements for foreign buyers, allowing them to buy a property with just a passport, as opposed to also needing either a limited or permanent stay permit card. The government hopes they will go some way to shoring up the property and construction industries, which contribute between 14% to 16% of Indonesia’s GDP, amid the instability caused by the wars in Ukraine and Israel and the potential for oil prices to rise.

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There must be a tipping point where millennials and young families see the advantage of choosing an apartment lifestyle in the city or city fringe over landed ownership

THE NEW HIGH-SPEED RAIL CONNECTION BETWEEN BANDUNG AND JAKARTA HAS SLASHED JOURNEY TIMES BETWEEN THE TWO DESTINATIONS

CAPITAL GAINS President Joko Widodo’s ambitions to turn the city of Nusantara into Indonesia’s new capital took shape towards the end of last year with construction starting on several major infrastructure projects. The president broke ground in November for work on an airport, hotel, and hospital in the new city. The decision to move the capital from Jakarta was announced in early 2022 amid fears over its continued ability to handle its 10.5 million residents. It is one of the fastest-sinking cities in the world due to the over-extraction of groundwater. It also suffers from heavy flooding and gridlock traffic. Jokowi launched 10 projects worth (USD784 million) during his visit in November to Nusantara, with a 347-hectare airport set to be fully operational by December 2024. The president hopes the projects will convince investors to shift their focus to Nusantara, which has so far struggled to appeal to and gain business. “I believe the construction of this airport will boost competitiveness and economic growth, as well as accelerate the development of the new capital,” he says.

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CONSTRUCTION WORK IS CONTINUING ON NUSANTARA, INDONESIA’S PLANNED NEW CAPITAL

“Capital outflows are predominantly moving towards the United States, which is complicating the economic scenario,” said President Joko “Jokowi” Widodo at a summit to announce the relief measures.

Rusmin Lawin, deputy chairman of property association Real Estate Indonesia (REI), says the incentives, particularly the relaxed rules around foreign ownership, are long-awaited and could bolster property sales.

“Our goal is to incentivise the property sector to sustain our economic growth,” he said. “The property industry has extensive ripple effects, impacting 114 associated industries, including those producing sand, cement, doors, glass, ceramics, and many others.”

“I am optimistic that our sales could increase by 50% [in 2024].”

Experts don’t imagine the measures to be a silver bullet. After all, Indonesia has unveiled similar tax cuts before with limited success in stimulating the market. But they could help smooth the road ahead for the year amid a potential rise in interest rates. In October, Indonesia’s central bank raised its benchmark interest rate by 25 basis points to 6%, potentially leading to higher mortgage rates and muted enthusiasm among prospective new buyers. Currently, the proportion of apartment buyers using mortgage loans is around 30% to 40%.

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Industry watchers expect holiday destinations popular with foreigners such as Bali to get a boost. A recently rolled-out Golden Visa scheme, which entitles foreigners to a five- to 10-year visa if they make a big investment in the country, is expected to also contribute to property demand. “Activities in Bali have picked up in the past year with the return of tourists. Residential developments for second homes are currently quite active,” says Harsanto of JLL. Meanwhile in Bandung, the capital of West Java province, sales agents have reported an uptick in enquiries driven by the new high-speed train, Whoosh, that launched last year. The train cuts the journey time from Jakarta to Bandung to less than an hour.

PRABOWO AHEAD IN POLLS He’s known for his love of cats and dancing and is now as the favourite to win Indonesia’s forthcoming election. Once a controversial figure, presidential candidate Prabowo Subianto has gone on a charm offensive to win over voters, and it appears to be working. A poll just before Christmas by Indikator Politik Indonesia showed that Prabowo, who is running with President Joko Widodo’s 36-year-old son Gibran Rakabuming Raka, would secure 46.7% of the vote. Another poll in December, by Kompas, put Prabowo in first place with 39.3% of the vote and placed former Jakarta governor Anies Baswedan as his closest opponent with 16.7%. If he wins February’s election, Prabowo is expected to stay on course with Jokowi’s economic plans, with a focus on investment in infrastructure. “For Bandung, we expect to see increased activity with the operation of Whoosh,” Harsanto says. She adds that it reflects a trend in which almost all areas in Greater Jakarta have shown a positive performance with improved connectivity.

He has also pledged to finish Widodo’s plans for a new capital city in Nusantara, which is something Anies hasn’t mentioned in his manifesto.

Steve Atherton, director of capital markets and investment services at Colliers Indonesia, says there has been massive spending on trains, toll roads, and other infrastructure, which “will be one of the lasting legacies of the Jokowi presidency.”

Prabowo’s newfound popularity comes amid a flurry of viral videos showing him doing what he calls a ‘happy dance’ at rallies. Subianto says his grandfather inspired the dance.

Promoting this is key, he says, as has been shown in other Asian metropolises like Singapore and Bangkok, where transport expansion has led to higher land values in areas where there is a train or underground station.

He has also proclaimed his love of cats in an apparent bid to appeal to young voters.

“Greater Jakarta still has many low-cost landed housing offers and they remain optimal choices for investors. But they are generally located a long way from the city centre,” says Atherton.

However, many will still know him for being accused of human rights abuses in East Timor and of being involved in the kidnapping of 13 student activists in 1998. He has denied all those claims.

“There must be a tipping point where millennials and young families see the advantage of choosing an apartment lifestyle in the city or city fringe over landed ownership in the distant suburbs.” 135

ADVERTORIAL

URBANISATION WITH PURPOSE Leading the way in nation-building, PHINMA Properties has a full-circle moment: transforming underprivileged areas and bringing inclusive, sustainable communities to life

More than just a group of islands, the Philippines is a collection of fast-growing cities and promising municipalities. The nation is swiftly urbanising, with millions of Filipinos drawn to the bright lights of the city to make something of themselves and improve their situations. Over the decades, new metropolises have sprouted throughout the archipelago, in addition to the established urban agglomerations of Manila, Cebu, and Davao. Finding these centres of growth is intrinsic to PHINMA Properties’ mission to establish thriving communities that embody the rich culture and traditions of the Filipino people and elevate the lives of those who call them home. The proudly Filipino developer aims to shape new urban centres, provide sustainable homes, and foster the Bayanihan Spirit—the timeless custom of helping one another without expecting anything in return. In 2023, PHINMA Properties reverted to one of its core strengths: creating 136

dignified lives through accessible and socialised housing. In a full-circle moment for the company, PHINMA Properties has partnered with the local government of Iloilo to house the city’s underprivileged citizens in resettlement communities. “Our purpose and beliefs are rooted in the idea that every Filipino deserves to be sheltered in decent homes as we pursue our mission by improving the way cities urbanise, thus, making lives better through shelter,” says Raphael B. Felix, president and CEO of PHINMA Properties. This public-private partnership is one in a long line of nation-building efforts by PHINMA Properties to create and cultivate sustainable and vibrant communities in Philippine cities, old and new. “This also contributes to our broader goal of inclusive growth, where housing security plays a critical role in creating a more equitable society for all,” says Felix.

The Iloilo initiative follows recent efforts by PHINMA Properties in places such as Quezon City where its benchmark-setting Bistekville project has transformed a depressed area of the metropolis into a flourishing community of secure homes. In a similar vein, PHINMA Properties has led transformative projects in Malabon City, with the socialised condominium development L’Oasis Malabon, and the city of Bacoor, with the affordable housing complex Grand Strikeville. PHINMA Properties wants for all its communities, whether housing lowincome groups or the affluent set, to thrive long into the future with minimal impact to the environment. The developer has partnered with the International Finance Corporation (IFC) to get current and future projects nationwide certified for Excellence in Design for Greater Efficiencies (EDGE). Notable examples include the Grand Strikeville 4 project in Bacoor, which scored an EDGE Advanced certification. To build the cities of the future, PHINMA Properties is setting its sights

ADVERTORIAL of master-crafted townhouses in the city of Muntinlupa. In any project, PHINMA Properties is dedicated to one thing: enhancing the living experience for residents. All living spaces are ergonomically designed based on Filipinos’ way of life, weaving tradition into every abode.

on building townships. On a 20-hectare landbank in Western Visayas, for example, the developer has envisioned a sprawling community for middleincome Filipinos with residential, commercial, and office components, including hotels under the Microtel and TRYP brands. The township will also give rise to schools and public spaces. The townships will be located outside Metro Manila in efforts to decentralise and diversify economic development outside the congested national capital. Equipped with its own property management company, PHINMA

Properties itself has diversified over the years. The company has excelled in providing quality homes for Filipino property seekers in higher income brackets. With the PHINMA MAAYO brand, the company caters to lower- to uppermiddle-income property seekers with exemplary projects such as PHINMA Maayo San Jose, Metrotowne Las Piñas, and Uniplace @Swu Cebu. With the PHINMA LIKHA brand, the company creates premium developments for higher-net-worth property seekers such as LIKHA RESIDENCES ALABANG, a collection

Dedicated to addressing the housing challenges faced by Filipinos, the company goes beyond the mere construction of structures to champion sustainable design and nurture strong community bonds. Ultimately, PHINMA Properties’ dignified housing options will instil, in all its residents, a profound sense of achievement, belonging, and permanence within society. As a developer, PHINMA Properties envisions communities that bring out the best in customers. This vision is inseparable from responsible urbanism that is innovative, sustainable, and inclusive. Beyond just building homes, PHINMA Properties aspires to make its homeland, the Philippines, better. This has been the company’s unyielding pursuit year after year.

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THE JUDGES Suphin Mechuchep Chairperson of the Awards in Thailand and CEO, Sen X Group PCL Chaivut Saengaram, Ph.D. Managing Director, Chuchawal-Royal Haskoning, Dutch Design & Engineers Consulting Firm Chaiyuth Pete Thirangoon Director, Akatan Company Limited Leong Choong Peng Advisor, Mentabuild Limited, Consultant, and Chartered Surveyor Marciano Birjmohun Vice-Chairman, The Singapore-Thai Chambers of Commerce Dr. Phongthon Tharachai CEO, Project Planning Service Public Company Limited Precha Suphapetiporn President, Thai Real Estate Sales and Marketing Association Sasivimol Sinthawanarong Design Principal, Jarken Co., Ltd. Professor Sonthya Vanichvatana, Ph.D Chairperson, the Department of Real Estate, MRICS, Associate Architect, MSME School of Management and Economics, Assumption University

The 18th PropertyGuru Thailand Property Awards, presented by Mitsubishi Elevator (Thailand) and supported by gold sponsor JLL, were held 17 November 2023 at The Athenee Hotel, A Luxury Collection Hotel, Bangkok. Sena Development won the coveted Best Developer award while Habitat Group Co., Ltd. was hailed Best Lifestyle Developer. Phuket9 gained the title of Best Developer (Phuket) while PNP Real Estate Co., Ltd. scored the Best Breakthrough Developer (Hua Hin) award. Other winners in the Developer categories were Andaman Asset Solution, winner of the Best Boutique Developer (Phuket) award; Botanica Luxury Phuket Co., Ltd., Best Luxury Developer (Phuket); MontAzure, Best Mixed Use Developer (Phuket); Patta Development Co., Ltd., Best Housing Developer (Eastern Seaboard); The EM District Co., Ltd., Best Retail Developer; The Riviera Group, Best Condo Developer (Eastern Seaboard); and Wallaya Villas Development, Best Housing Developer (Phuket).

SPONSORS AND PARTNERS Platinum sponsor Mitsubishi Elevator (Thailand) Gold sponsor JLL Official portal partner DDproperty.com Official magazine Property Report by PropertyGuru Official publicity partner Infinity Communications Media partners Discover Pattaya, Hot Magazine, Prop2morrow, REm, Terra BKK, Think of Living, and Top 10 Thailand Official beverage partner Fah Mai Holdings

Thongma Vijitpongpun, vice chairman of the board of directors, Pruksa Holding Public Company Limited, was named Thailand Real Estate Personality of the Year.

Supporting associations British Chamber of Commerce Thailand (BCCT) and IFC – Excellence in Design for Greater Efficiencies

For the full list of winners, visit asiapropertyawards.com/en/award/thailand

Official supervisor HLB

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THE ELITE RECIPIENTS OF THAILAND’S LONGEST-RUNNING REAL ESTATE AWARDS

PRUKSA REAL ESTATE CEO PIYA PRAYONG TAKES THE STAGE

SENA DEVELOPMENT WINS THE BEST DEVELOPER TITLE FOR THE FIRST TIME

HABITAT GROUP CO., LTD. GAINS THE MOST WINS OF THE NIGHT

PHUKET9 IS CROWNED BEST DEVELOPER (PHUKET)

BOTANICA LUXURY PHUKET CO., LTD. WINS BEST LUXURY DEVELOPER (PHUKET)

THE EM DISTRICT CO., LTD. DOMINATES THE RETAIL CATEGORIES

PATTA DEVELOPMENT CO., LTD. IS NAMED BEST HOUSING DEVELOPER (EASTERN SEABOARD)

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THE JUDGES Lui Violanti Chairperson of the Awards in Australia and Regional Manager for Western Australia, Inhabit Group Benson Zhou Director and Divisional Head for Asia Market in Victoria, Savills Melbourne Edward Haysom General Director, Haysom Architects Vietnam Ivan Lam Head of International Business, Charter Keck Cramer Jessica Liew Principal, Plus Architecture Karl Fu Partner for Asian Markets, Winning Commercial Peter Li General Manager, Plus Agency Richard Newling Ward Director, Bayleyward Steven Yu Founder and CEO, Valorton Group

The 6th PropertyGuru Asia Property Awards (Australia), supported by sponsor Subzero Wolf and partner Realestate. com.au, commemorated the country’s finest real estate in a black-tie celebration at the Grand Hyatt Melbourne on 13 October 2023. Aqualand won the coveted Best Developer award for the first time as well as the Best Luxury Developer and Best Mixed Use Developer titles. Shangjin Lin, the company’s founder and group managing director, was named Australia Real Estate Personality of the Year. Salvo won the Best Lifestyle Developer title while Skyland Group won the Best Luxury Boutique Developer title. Luisant Queensberry Pty Ltd. clinched the Best Breakthrough Developer title while MRCB International was named Best Boutique Developer.

SPONSORS AND PARTNERS Silver sponsor Subzero Wolf Official magazine Property Report by PropertyGuru Official publicity partner Good Talent Media Media partners Australian Property Journal, Bridges, The Philippines Times (Australia), The Property Tribune, and Your Investment Property Magazine Supporting partner Realestate.com.au

Mark Moran Group was honoured with Special Recognitions in ESG and Sustainable Design and Construction, among others.

Supporting associations Australasia Property Advisory Association, Australia Malaysia Business Council – Victoria, and Melbourne Chinatown Association

Kurraba Residences by Third.i Group earned the Best Condo Development (Australia) award while the Best Housing Development (Australia) award went to Capri by Monaco Property Group.

Official supervisor HLB

For the full list of winners, visit asiapropertyawards.com/en/award/australia

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THE BEAMING AWARDEES CONVERGE FOR A HISTORIC CLASS PHOTO

MONACO PROPERTY GROUP WINS BIG FOR CAPRI

AQUALAND ACCEPTS THE NIGHT’S HIGHEST HONOUR

THE BEST LIFESTYLE DEVELOPER AWARD GOES TO SALVO

SKYLAND GROUP IS HAILED BEST LUXURY BOUTIQUE DEVELOPER

MRCB INTERNATIONAL CLINCHES THE BEST BOUTIQUE DEVELOPER TITLE

LUISANT QUEENSBERRY PTY LTD. IS BEST BREAKTHROUGH DEVELOPER

MARK MORAN GROUP GAINS MULTIPLE SPECIAL RECOGNITIONS

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THE JUDGES Kristin Thorsteins Chairperson of the Awards in Singapore and Head of Partnerships – Growth for APAC, IWG PLC Annalisa Dass Director, Digital Strategy, EY-Parthenon Chua Shang Chai Partner, Dentons Rodyk & Davidson LLP Greg Shand Architect, Robert Greg Shand Architects Henry Woon Director, Atelier Ten Ar. Ivy Koh Deputy COO, SJ Architecture, Surbana Jurong Consultants Pte Ltd. Roy Ling CEO, Board Director, and Adjunct Professor, FollowTrade Tay Kah Poh Adjunct Associate Professor, NUS Department of Real Estate Wenhui Lim Partner, Spark Architects

The 13th Annual PropertyGuru Asia Property Awards (Singapore), supported by Mitsubishi Electric Asia Pte Ltd., were celebrated 27 October 2023 at The Ritz-Carlton, Millenia Singapore. SPONSORS AND PARTNERS

GuocoLand earned the coveted Best Developer award. UOL Group Limited was named Best Residential Developer, Best Sustainable Developer, and Best Hospitality Developer. Hoi Hup Realty Pte Ltd was hailed Best Lifestyle Developer. Frasers Property Singapore, named Best Mixed Use Developer, won the Best Condo Development (Singapore) award for Riviere. The Best Housing Development (Singapore) title went to Pollen Collection, a project by Bukit Sembawang Estates Limited, hailed Best Landed Developer. Solitaire Cecil Pte Ltd (TE Capital Partners and LaSalle Investment Management) received the Best Commercial Developer title while Da Vinci Land was named Best Breakthrough Developer. The Assembly Place was hailed Best Co Living Operator, with Eugene Lim YJ, the company’s founder, becoming the first Rising Star. Tan Zhiyong, CEO of MCC Singapore, received the Singapore Real Estate Personality of the Year award. For the full list of winners, visit asiapropertyawards.com/en/award/singapore

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Gold sponsor Mitsubishi Electric Asia Pte Ltd. Official portal partner PropertyGuru.com.sg Official magazine Property Report by PropertyGuru Media partners AspirantSG, d+a Magazine, SquareRooms, and Top 10 Singapore Supporting association Singapore Estate Agents Association Official supervisor HLB

ALL THE WINNERS ARE ALL SMILES IN THE ANNUAL CLASS PHOTO

GUOCOLAND RECEIVES THE SOUGHT-AFTER BEST DEVELOPER AWARD

UOL GROUP LIMITED RECEIVING ONE OF THREE DEVELOPER AWARDS

MCC SINGAPORE’S TAN ZHIYONG IS NAMED SINGAPORE REAL ESTATE PERSONALITY OF THE YEAR

EUGENE LIM YJ ACCEPTS THE FIRST RISING STAR AWARD

SINGAPORE’S BEST LANDED DEVELOPER IS BUKIT SEMBAWANG ESTATES LIMITED

FRASERS PROPERTY SINGAPORE IS HONOURED AS BEST MIXED USE DEVELOPER

SOLITAIRE CECIL PTE LTD (TE CAPITAL PARTNERS AND LASALLE INVESTMENT MANAGEMENT) WINS BEST COMMERCIAL DEVELOPER

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PRESTIGE MEETS PRIME LIVING Award-winning developer Habitat Group sets the new standard of luxury resort living with its flagship branded residential development in Pattaya

Branded residences have captured the imagination of property seekers around the world for many years. In Asia Pacific alone, there has been a 216% increase in branded residence projects over the last decade, according to Savills data. The idea of living in palatial homes backed by a world-famous hotel chain, with all the world-class services that branding entails, has become an impressive value proposition in Thailand, most recently in Pattaya. Ranked the 15th most visited city in the world in 2023, Pattaya has witnessed the emergence of branded residences as appealing places for end use and investment among Thais and foreigners alike. Among the many alluring destinations in the city, Wongamat Beach has been rated one

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of its most in-demand neighbourhoods, where homes can fetch selling prices of THB200,000 to THB300,000 per square metre on average. At THB160,000 per sqm, Wyndham Grand Residences Wongamat Pattaya offers exceptional value for money on the prime shoreline of Wongamat Beach. Habitat Group, winner of the Best Lifestyle Developer title at the 18th PropertyGuru Thailand Property Awards, has partnered with global hospitality leaders Wyndham Resorts and Hotels and leading private equity firm ECG Venture Capital for the project. Wyndham Grand Residences Wongamat Pattaya itself won multiple titles at the Awards, including the prestigious Best Condo Development (Thailand) honour.

As Habitat Group’s flagship branded residence, Wyndham Grand Residences Wongamat Pattaya spares no expense on design, functionality, and amenities. Set to be a landmark on Wongamat Beach, the 36-storey luxury condominium project is developed according to the concept of “The New Standard of Luxury Resort Living”. This concept translates into an exclusive experience for both vacation home seekers and property investors. All units at have sea views while residents enjoy concierge services. Spread over a plot of 3-0-40.4 rai, Wyndham Grand Residences Wongamat Pattaya comprises 348 residences, housed in a striking Y-shaped building surrounded by natural splendour. Following the

ADVERTORIAL

“Nature Connect” concept, the architecture takes inspiration from the environment, including the curves of the Wongamat Beach shoreline, and acts as a bridge between the sea and land. The building was also designed in a way that every unit is bathed in natural light, resulting in positive bodily and mental health outcomes. Residents enjoy a wide range of leisure facilities spread across seven floors, including a floating lounge, infinityedge pool, luxury lounge, golf simulator, swimming pools for all ages, a teen club, kids’ room, sky bar, and rooftop with 360-degree sea views.

to three-bedroom residences with expansive dimensions ranging up to 110 sqm. Elevating the experience further is the Luxury Collection, featuring opulent two-bedroom residences as roomy as 83 sqm, going up to 217 sqm for the four-bedroom residences. Prices for these refined living spaces range from THB4.79 to 60 million baht, offering a broad spectrum of choices for property seekers of different backgrounds. Wyndham Grand Residences Wongamat Pattaya appeals to a new

generation of buyers overall, especially young households in search of holiday homes and a family asset that appreciates over time. From Thailand to Asia and Europe, property seekers worldwide are on the quest for premium living experiences, and Wyndham Grand Residences Wongamat Pattaya precisely delivers that. Enriched by the familiar, worldrenowned hospitality of the Wyndham Grand brand, residents will experience a sense of belonging and feel right at home in these excellent abodes.

Residents are treated like five-star hotel guests, with concierge services ranging from housekeeping to personal assistance and even event catering. The offerings at Wyndham Grand Residences Wongamat Pattaya span three distinctive collections, each tailored to meet diverse lifestyle preferences. In the Standard Collection, one-bedroom residences boast sizes of 27 to 45 sqm, with two-bedroom options spanning up to 77 sqm. For those seeking a touch of exclusivity, the Special Collection introduces one145

Dispatch

Tightening its belt China’s expansive BRI infrastructure development strategy is evolving, and key regional allies are hopeful that it will have positive outcomes for real estate markets By Steve Finch

eedback was decidedly mixed when the Carnegie Endowment for International Peace conducted interviews across ASEAN at the end of last year on the impacts of a decade of China’s Belt and Road Initiative. The Philippines was found to be very negative on the BRI, and Cambodia and Laos were very positive. This was hardly a surprise. The Philippines remains engaged in a territorial dispute with China over islands in the South China Sea.

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THE CHINA-LAOS RAILWAY WILL EVENTUALLY LINK WITH ROUTES IN THAILAND AND POINTS FURTHER SOUTH

By contrast, Cambodia and Laos have increasingly gravitated towards their larger northern neighbour. During the past 10 years, these relations have been cemented with increasingly frequent governmental exchanges, ample aid during the pandemic, and bilateral trade and investment relationships as comprehensive as any China has forged. In October, when China held its third BRI conference in Beijing marking a decade of the initiative, Cambodia and Laos recorded among the highest number of

FourE-Com Center, Manila

www.arquitectonica.com With offices in Miami, New York, Los Angeles, West Palm Beach, Paris, Hong Kong, Shanghai, Manila, Lima and Sao Paulo, Arquitectonica is a major presence on the international stage. From its inception in 1977, the firm received almost instant attention and acclaim from critics and the public alike, due to a bold modernism that was immediately identified with a renaissance in Miami’s urban landscape. Led by Principals Bernardo Fort-Brescia and Laurinda Spear, Arquitectonica continues to push the limits of design with its innovative use of materials, geometry, pattern and color to introduce a new brand of humanistic modern design to the world. Today Arquitectonica’s practice spans the globe, with projects in 59 countries on five continents. Permata Sapura Tower, Kuala Lumpur

Hall of the Sun, Shanghai

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Brickell City Centre, Miami

Dispatch

CHINESE BUYERS OF OVERSEAS RESIDENTIAL PROPERTY SEE LARGE BRI PROJECTS AS A SIGNAL THAT THEY CAN INVEST SAFELY WITHOUT HAVING TO WORRY ABOUT GEOPOLITICAL TENSIONS

what China terms ‘concrete outcomes’—13 and 10 respectively—versus just four in the Philippines. Despite China’s shift towards people exchanges and learning and institutional development, the list of current and forthcoming BRI projects still points towards massive overseas infrastructure development, with significant implications for real estate dynamics in the region. “Chinese buyers of overseas residential property see large BRI projects as a signal that they can invest safely without having to worry about geopolitical tensions,” says the co-founder of a leading real estate portal for Chinese. “When you consider two developing markets, the one that is part of BRI is more likely to attract investment from China, all other things being equal.” The expert cited the example of a large Chinese pharmaceutical client which recently established its first manufacturing facilities and regional headquarters in ASEAN. Its destinations of choice? Cambodia and Malaysia, countries that remain positive on the initiative, according to the recent Carnegie regional survey. In Laos, major BRI projects recently underway include a new agricultural exchange and trade initiative led by Hunan province and the Chinese construction and agricultural machinery firm Zoomlion which aims to create markets and channel income into rural areas of the country. Also major is a forthcoming agreement on development along the corridor of the new Laos railway.

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Connecting the capital Vientiane to Kunming in Yunan province, the railway, which began services in late 2021, has shrunk journey times between major destinations along its route, including the backpacker haven Vang Vieng and tourism hotspot Luang Prabang. In January 2022, just weeks after the railway opened, many buildings along the railway remained empty because construction had outstripped demand amid the pandemic, according to Sornpheth Douangdy, a Vientiane-based senior counsel at regional ASEAN legal practice VDB Loi. “Rental fees and sale prices were too expensive,” he says. Two years later, little has changed, according to Sornpheth. The Laos National Assembly is yet to pass any new laws or introduce incentives designed to attract tenants to these new properties. However, China’s announcement of a bilateral agreement with Laos on formulating cooperation programs for development along the China-Laos railway promises the potential for a real estate drive in and around stations along its length. Last year, Luang Prabang recorded frequent queues at many of its popular sites as ticket sales on the railway doubled, a strong indication that Chinese tourists and business travellers are returning to Laos in greater numbers as the pandemic and its impacts fade. In Cambodia, the infrastructure impacts of BRI—past, present, and future—appear even more significant. A new Chinese-built and funded Angkor International Airport, opened

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two days before new Cambodian Prime Minister Hun Manet met Chinese premier Li Qiang on the sidelines of the BRI conference in Beijing is now the largest in Cambodia. Located 50 kilometres east of Siem Reap, this new air hub lies more than one hour by car from the temples at Angkor, with Cambodia and China planning the construction of an expressway through this new corridor, which remains undeveloped. In 2025, China and Cambodia plan to open another new airport, located in Takhmao, to serve the capital Phnom Penh. Other key BRI transport infrastructure projects in Cambodia, such as a new four-lane expressway opened between the capital Phnom Penh and the coastal resort Sihanoukville in 2022, have been “transformative”, says Lawrence Lennon, managing director of CBRE Cambodia. “Previously, you either flew or took a sixhour drive,” he says. “Now it takes just two hours by car, so it’s doable in a day. These are major benefits to domestic tourism

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ANGKOR INTERNATIONAL AIRPORT IN CAMBODIA IS ANOTHER KEY BRI INFRASTRUCTURE INITIATIVE

and business, in the build-up to domestic tourism returning to where it was before the pandemic.” Recently announced BRI projects in Cambodia include production capacity and investment cooperation between China and Cambodia’s powerful investment board, the Council for the Development of Cambodia, including a green development initiative. China is also planning to move ahead with a next phase of rural electrification and grid extension in Cambodia, and—as in Laos, Thailand, and other ASEAN countries—is set to develop railway lines and rolling stock in Cambodia. “There is generally nothing better for real estate, and the development of economies, than infrastructure,” says Lennon. “Just as long as they have proper checks and balances to make them worthwhile.”

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Dispatch

A bridge too far Will Thailand’s plan to connect the Pacific and Indian Ocean revolutionise shipping? Or is it a desperate bid to gain foreign investment for a stagnant economy? By Oliver Irvine

hen Thailand’s Ayutthaya-era ruler Narai the Great wanted to establish a maritime silk road between Thailand and the rest of the world in 1677, he envisioned digging what would have been the world’s first mega-canal. A manmade waterway on the narrowest part of the Malay Peninsula, between Chumphon on the Gulf of Thailand and Ranong by the Andaman Sea, would slice through 50 kilometres of land, bisecting the Tenasserim Mountain Range that runs from Tibet to Malaysia, and bringing trade into Thailand that would otherwise need to navigate

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THE LAND BRIDGE WILL EXTEND FROM THE ANDAMAN SEA TO THE GULF OF THAILAND

the Strait of Malacca between Malaysia, Sumatra, and modern-day Singapore. For nearly 400 years, numerous Thai administrations have fixated on the idea of creating a shipping route through Thailand’s Kra Isthmus. And current Thai Prime Minister Srettha Thavisin is no exception. He has made a USD28-billion land bridge that would bypass one of the world’s busiest shipping lanes central to his first year in office. Indeed, the premier spent November and December of 2023 travelling the world in a bid to raise investment.

TORRE LORENZO DEVELOPMENT CORPORATION

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Dispatch

NUMEROUS THAI ADMINISTRATIONS HAVE FIXATED ON THE IDEA OF CREATING A SHIPPING ROUTE THROUGH THAILAND’S KRA ISTHMUS. AND CURRENT THAI PRIME MINISTER, SRETTHA THAVISIN IS NO EXCEPTION

“I believe this presents an unprecedented opportunity to invest in this commercially and strategically important project that connects the Pacific Ocean and the Indian Ocean, connecting people in the East with the West,” he said during the 2023 APEC Leaders Meeting in San Francisco. Srettha’s estimates say that the land bridge would create an additional 280,000 jobs for the region while boosting Thailand’s GDP by 5.5%. For shipping companies, it would potentially lower transportation costs by 15% in addition to cutting four days off journey times, according to Thai authorities. On the ground, construction is set to commence in 2025, with a completion date in 2039, although the first phase of the project—which will see the construction of deep-sea shipping ports in Ranong and Chumphon—is slated for completion in 2030. Other developments include a onemetre gauge railway line to connect ports with the existing southern rail track, a motorway, and a gas and oil pipeline. Any infrastructure will bring with it new commercial and industrial real estate opportunities. The government has said that it’s studying to establish new industrial estates in Ranong, Chumphon, Nakhon Si Thammarat, and Surat Thani. It has also announced plans for a Special Economic Zone Act that would ease regulations on global goods travelling between the Gulf of Thailand and the Andaman Sea. Investors in the corridor may also find themselves beneficiaries of concessions

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for shipping and logistics. Speaking to the heads of nearly 30 Japanese companies in December, transport minister Suriya Jungrungreangkit raised the prospect of a 50-year concession for any successful bidder for the land bridge project. The Industrial Estate Authority of Thailand is currently investigating where any new industrial estates might be located. If Srettha’s land bridge is successful, it would eat into the trade that runs through the heavily congested Strait of Malacca, which sees 90,000 ships pass through it every year, or 40% of the global shipping trade, according to Reuters. Any economic benefits that the land bridge would bring to Thailand may come at the expense of its neighbours, Singapore, and Malaysia, where the maritime industry accounts for up to 40% of the gross domestic product (GDP). Thailand’s inland logistics for shipping companies are notoriously inefficient. It currently takes at least a day to freight goods from Thailand’s main deep-sea port, Laem Chabang, according to Piset Rittapirom, chairman of the Bangkok Shipowners and Agents Association. Even the Thai government concedes that its best-case estimate of 15% transportation-cost cuts could be as low as 4% for some countries. Most concerning to Thailand might be the lack of interest from China. In the past, China has looked favourably on a canal linking the Gulf of Thailand (and by extension the South China Sea) with the Andaman Sea, thereby alleviating China’s over-reliance on the Malacca Strait, through which it imports

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up to 70% of its oil from the Middle East. But it may see less strategic and political significance in a land shipping route. “China is not convinced [of what] it can expect from the project,” Lu Xiang, a senior researcher with the Chinese Academy of Social Sciences, told the South China Morning Post, explaining that the cost of offloading and reloading cargo is likely to be complex and potentially no more costeffective. The project has also alarmed local environmental rights campaigners, who submitted a letter of opposition to the Transport Ministry in September. The Srettha government has yet to carry out any serious environmental impact assessment (EIA). What is known is that the land bridge will run within three kilometres of Mu Ko Ranong National Park and Laemson Marine National Park. The president of the Tourism Association of Koh Samui, Ratchaporn Poolsawadee, expressed his concern to the Bangkok

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THAI PRIME MINISTER SRETTHA THAVISIN HAS MADE THE LAND BRIDGE A POLICY PRIORITY

Post. “Tourism has been a major income provider for people across nearby islands such as Koh Samui, Koh Phangan, and Koh Tao. The revenue generated goes to the local community. Each year these areas earn more than THB100 billion in revenue from tourism,” he says. So far, any outside investment into the land bridge remains speculative. Though the Thai government has spoken of interest from foreign investors in the US, Germany, and Japan, nothing is yet certain. In December, it released the national fiscal budget for 2025, which lays bare a huge deficit as it increases public spending by 9.3%. The government needs foreign money, but foreign money for the land bridge is unlikely to come without a thorough environmental impact survey and the due diligence needed to improve Thailand’s land shipping infrastructure. As Srettha focuses efforts on gaining investor support, many observers believe the new Thai government is putting the cart before the horse.

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ADVERTORIAL

INVESTING IN PARADISE Phuket is on the rise as a tourist destination again, with real estate opportunities in the tropical haven beckoning to investment-savvy sunshine seekers around the world

With stunning landscapes immortalised in everything from movies to social media, Phuket represents a dream vacation for many. After the pandemic, tourists from around the world were able to visit the famous Thai island again. Attracting 9.89 million visitors, the Jewel of the Andaman Sea ended up ranking 14th among the world’s 20 most visited cities in 2023. Phuket is also a dream home for many. Due to the resurgence of tourist inflows, the residential property market in Phuket is experiencing a notable upward trajectory. Investors are attracted to properties on the island, which have become potent sources of passive income, starting at 6% per year, and viable means to capital preservation.

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Crowned the Best Developer in Phuket at the 18th PropertyGuru Thailand Property Awards, Phuket9 is offering such investment opportunities in the form of superior villa, condominium, and hotel projects. Unlike many other developers in Phuket, the awardwinning company, established in 2004, is committed to thorough market research along with unparalleled expertise in property management and turnkey construction.

Among Phuket9’s many offerings, a slice of paradise beckons from the Rawayana villa complex on Rawai Beach. Offering 35 expansive villas in sizes ranging from 295 to 382 square metres, this development lets owners enjoy a fixed income of 6% for the first five years, coupled with the freedom to relish up to 30 days per year of personal use. A unique Buy Back option guarantees 100% of the purchase price after five years.

Phuket9 caters to a diverse clientele. Its properties appeal to individuals and families seeking to relocate to Thailand and reside in the highestquality living spaces among developed infrastructure. The properties allow investors to combine their love for Phuket vacations with steady returns.

Adjacent to the villa complex are the Rawayana North Apartments, comprising large residences spanning from 53.6 to 127.4 sqm. Investors can revel in a fixed income of 7% for five years, coupled with about a month of personal use, or opt for the rental pool program with a promising 40-60% split, ensuring projected profits of 5-10%

ADVERTORIAL

annually. Alternatively, buyers may opt for similar investment opportunities at the Rawayana South Apartments, also on Rawai Beach, with elegant studios as spacious as 97.2 sqm. The Rawayana complex is set for completion in Q1 2025, but it is already receiving recognition. The complex won three titles at the 2023 PropertyGuru Thailand Property Awards, including Best Boutique Mixed Use Development (Phuket). Phuket9’s VIPKaron apartment complex was Highly Commended for the Best Condo Development (Phuket)

award due to its fantastic array of seaview apartments along Karon Beach. With 173 units on offer, ranging from studios to two-bedroom apartments, VIPKaron also delivers unmatched returns. Investors can benefit from either a rental pool program, with projected annual profits of 5-10%, or a fixed-income option of 7% for five years, plus opportunities for personal use every year. Other lucrative investment opportunities from Phuket9 include Highton, a panoramic project near Karon Beach that features 11 brandnew pool villas in sizes up to 600 sqm.

Meanwhile in Kata Beach, Phuket9 is developing Katalux, a luxurious collection of five- to six-bedroom villas as big as 803 sqm. Wekata, another Kata Beach development, is now in its third phase, offering studios and oneto two-bedroom condominium units at up to 153 sqm. A pioneer in the industry, Phuket9 can be a formidable, reliable partner on the path to financial freedom. And with Phuket’s resurgence, the gateway to the thriving real estate market opens wide, and there is no better key to unlock its potential than the aspirational island homes offered by Phuket9.

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26 Vista

Surfers Paradise, QLD Australia 26 Vista is a cosmopolitan collection of one, two-, three- and four-bedroom apartments in Gold Coast. The tower, located at 26 Vista Street in Surfers Paradise, embraces subtropical design principles to consolidate a rapidly evolving, vibrant part of the city. An elegant addition to the Gold Coast skyline, 26 Vista is designed to take advantage of Queensland’s climate. The project is also designed to weave together the contrasting elements of the site, located at the junction between the curvilinear, punctuated features of the river and the linear expanse of the coastal strip. The cosmopolitaninspired design of the building reflects the duality of the site: skilfully using the timeless aesthetics of glass and clean lines on the ocean side while incorporating varied forms, masses and textures that engage with the river.

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26 Vista is just a walking distance of Northcliffe’s vibrant offerings, from the iconic beach to the area’s popular restaurants. The homes of 26 Vista offer a rare opportunity to those in pursuit of lifestyle, a coastal haven, and an exclusive address. 26 Vista is a project of the integrated commercial and residential developer MRCB International, a wholly owned subsidiary of MRCB Malaysia. The Bursa Malaysia-listed parent company boasts more than five decades of expertise, with diverse interests spanning real estate, renewable energy, and infrastructure.

WINNER

BEST BOUTIQUE DEVELOPER MRCB International

2023

FACT BOX HIGHLY COMMENDED

WINNER

BEST ECO FRIENDLY APARTMENT DEVELOPMENT

BEST LIFESTYLE DEVELOPMENT (QUEENSLAND)

26 Vista by MRCB Australia

2023

Developer: MRCB Australia Product type: Apartments and townhouses Architect: DBI Architects Launch date: February 2023 Completion date: Q1 2027 Total land area: 3,100 sqm Number of units: 280 (274 apartments, 6 townhouses) Average unit size: 117 sqm Facilities: Shared workspace, pool, spa, BBQ area, gym, sauna, steam room, yoga deck, cinema room, games room, residents’ lounge Monthly maintenance fees: AUD2,000 Price range: AUD605,000-AUD9 million Contact: Tel: 03 9550 1898 Email: aiman.saripuddin@mrcb.com Address: 3011 Surfers Paradise Blvd, Surfers Paradise QLD 4217, Australia

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PARK HERITAGE PATTANAKARN Suan Luang, Bangkok PARK HERITAGE is an exclusive collection of three-storey private villas in the heart of Bangkok. The project, located at Phatthanakan 20 Yeak 8, is only a 10-minute drive from Thonglor and one kilometre from the expressway. A serene refuge from the bustle of metropolitan Bangkok, PARK HERITAGE is designed to become a modern classic, marrying contemporary luxury to timeless legacy. The name “PARK” pays homage to the site’s sprawling green expanse while “HERITAGE” denotes a property that will last for generations. Nature is an integral part of PARK HERITAGE. Drawing from its extensive expertise, developer Sammakorn Plus Company Limited incorporates landscaping into many details of the project. Over time, residents can immerse themselves in the project’s ever-growing natural beauty and build a legacy that can be passed to the next generation. 162

PARK HERITAGE is an exclusive community with a limited number of residences, ensuring enhanced privacy for residents. Secluded clustering zones, delineated by walls of lush greenery, create an intimate living experience, with houses aligned in one-sided rows. Inside each residence, double-volume spaces foster family togetherness. The inclusion of an Energy Recovery Ventilator and smart home systems further elevate the residential experience. Residents may gather as a community at The Heritage Garden with three zones for leisure and activities. Other communal facilities include a three-storey clubhouse with a swimming pool, spa room, fitness centre, a business lounge with a meeting room and a multipurpose room, and golf simulator room, among others. Many concierge services, ranging from moving to reception services, are also offered to residents.

WINNER

BEST LUXURY HOUSING ARCHITECTURAL DESIGN PARK HERITAGE PATTANAKARN by Sammakorn Plus Company Limited

2023

FACT BOX WINNER

WINNER

BEST LUXURY HOUSING DEVELOPMENT (BANGKOK)

BEST HOUSING DEVELOPMENT (THAILAND)

PARK HERITAGE PATTANAKARN by Sammakorn Plus Company Limited

2023

Developer: Sammakorn Plus Company Limited Product type: Villa Architect: Arsom Silp Institute of the Arts Launch date: November 2022 Completion date: Q4 2025 Total land area: 12-3-55.5 rai (20,622 sqm) Number of units: 32 Average unit size: 625 sqm Facilities: The Heritage Garden, clubhouse, pool, virtual golf simulator room, fitness centre, meeting and multipurpose rooms, spa room, business lounge, concierge service, security system, and more Monthly maintenance fees: THB100 per sqm sq wah Price range: THB59-98 million Contact: Tel: 1427 Email: ir@sammakorn.co.th Address: 188 Spring Tower Building 21st floor, Thung Phaya Thai, Ratchathewi, Bangkok 10400, Thailand

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Mark Moran Warrawee Melbourne, Australia Mark Moran Warrawee is the first new truly premium residential aged care development in Sydney’s Upper North Shore in 20 years. The latest development from Mark Moran Group combines award-winning care, architectural design, and Evette Moran’s signature interior design and garden excellence to create an exceptional community where ageing is celebrated. The project carefully curates enriching lifestyle programs, market-leading physiotherapy services, and first-class nutritious dining to enable residents to live younger longer, in line with Mark Moran Group’s philosophy. Every one of the 105 suites is spacious, with many featuring balconies. Luxury resort-style facilities include a Gold Class style cinema, hair salon, stateof-the-art gym, and, in a market first, a full-size hydrotherapy pool overlooking a magnificent blue gum forest. Communal 164

spaces include The Palms Café and adjoining courtyard garden co-designed by Evette Moran with renowned landscape designer Charlie Albone. Landscaped gardens and greenery adorn the site. The jewel in the crown is the rooftop Sky Garden and lounge, offering breathtaking views and providing a serene space for residents to enjoy day and night. Opened in March 2022, the facility has already won numerous awards for development and design excellence with first-class care, lifestyle services, and garden and interior design, among others. The project is home to amenities not available within the local area, including international best-practice hydrotherapy and prehab, as well as technological innovations such as virtual reality and a unique industry-leading gym offering in an integrated indooroutdoor setting.

HIGHLY COMMENDED

BEST BOUTIQUE DEVELOPER Mark Moran Group

2023

FACT BOX WINNER

WINNER

SPECIAL RECOGNITION IN SUSTAINABLE DESIGN AND CONSTRUCTION

SPECIAL RECOGNITION IN ESG

Mark Moran Group

2023

Developer: Mark Moran Group Product type: Residential aged care facility Architect: Benson McCormack Architecture Completion date: March 2022 Total land area: 3,788 sqm Number of units: 105 RAC suites Average unit size: 34 sqm Facilities: Café & garden lounge, sky garden, hydrotherapy pool, and more Price range: AUD850,000-2.1 million Contact: Tel: +61 2 9440 6300 Website: markmoran.com.au Address: 1496 Pacific Highway, Warrawee, NSW 2074, Australia

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Highett Common Melbourne, Australia Highett Common is a development of luxury apartments, townhomes, and terraces surrounded by four hectares of parkland, which encompass a three-hectare nature reserve and a one-hectare park. Highett Common brings nature and refined living to the heart of Highett, a suburb of Melbourne, at 37 Graham Road. The project is Melbourne’s premier master-planned Bayside village with over 42% of the site dedicated to green open space. The 9.3-hectare precinct features diverse types of homes, oriented to take advantage of the leafy views. Boasting a biophilic design and a range of eco-conscious initiatives, the development is sustainably designed to become the first Net Zero Community in Victoria. Delivered across two to three levels, the townhomes have an open design, allowing greater flexibility as family needs change over time. Each townhouse has been 166

spatially planned from the ground up, allocating extra space for entertainment and family life. With living areas across the lower level, the upper level has space for an additional living zone, home office, and hobby or media room. WINNER

Highett Common also offers a selection of one-, two-, and three-bedroom apartments and terraces. The homes are full of light, warmth, and space, each unit featuring an open-plan design, private outdoor living areas, and expansive walls of windows. The precinct has resort-like amenities, including an indoor lap pool, outdoor pool, gymnasiums, wellness hubs, and a community library. Located next to Melbourne’s premium suburbs, Highett Common is conveniently positioned next to retail hubs and accessible from schools and academic institutions.

BEST APARTMENT LANDSCAPE DESIGN Highett Common by Sunkin Property Group

2023

FACT BOX WINNER

WINNER

BEST ECO FRIENDLY APARTMENT DEVELOPMENT

BEST APARTMENT DEVELOPMENT (VICTORIA)

Highett Common by Sunkin Property Group

2023

Developer: Sunkin Property Group Product type: Apartments, terraces, and townhomes Architect: ClarkeHopkinsClarke, Tract Landscape Architects Launch date: May 2023 Completion date: Mid-late 2025 (Stage 1) Total land area: 9.3 ha Number of units: 167 (Stage 1), 10 (Stage 2) Average unit size: 70.3 sqm (Stage 1), 157.4 sqm (Stage 2) Facilities: Pools, gymnasiums, yoga room, wellness area, cinema, private dining room & kitchen, conservation park, one-hectare park with playgrounds & BBQ areas, community library Monthly maintenance fees: From AUD497.25 Price range: From AUD593,500 (apartments), from A$1,614,000 (townhomes) Contact: CBRE Residential Projects – Stefanie Enconniere Tel: 1300 888 770 Email: MelbourneRP.SalesAdmin@cbre.com.au Address: Level 34, 8 Exhibition Street, Melbourne VIC 3000, Australia 167

Asiana Homes

Abucay, Bataan, Philippines Asiana Homes is a signature development of Asiana Homes, Inc. in Abucay, a fast-growing town in the western part of Bataan province, along the coastline of Manila Bay. Designed with tranquillity, accessibility, and modern elegance in mind, Asiana Homes Abucay offers an extraordinary residential experience that merges nature and urban lifestyle through great architecture and amenities. Strategically located in Mabatang, Abucay, the project is surrounded by a wealth of accessible facilities and services. Institutions, schools, and everyday needs are within easy reach at just two to nine kilometres away. Healthcare and financial services, shopping, and good dining are also within a five to 15-kilometre radius of the project. Asiana Homes Abucay has been masterplanned to reformulate the concept of

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elevated, modern living. Its thematic, exquisitely designed amenities foster a sense of community and promote socialisation, family bonding, and health. Homeowners can relish abundant leisure and outdoor spaces at the project’s Nature Walk Park and Bamboo Grove Hall. Also unique to Asiana Homes Abucay is the Green Way, encouraging walkability and a healthier, more connected lifestyle in the community. With the booming real estate market in Bataan, Asiana Homes Abucay is primed to capitalise on the region’s growth. The project has a range of property options for the evolving preferences and goals of first-time homebuyers and seasoned investors alike. A strong community builder and trusted developer since its inception, Asiana Homes, Inc. guarantees a dedicated service to all property seekers.

HIGHLY COMMENDED

BEST HOUSING DEVELOPMENT (LUZON) Asiana Abucay by Asiana Homes Inc.

2023

FACT BOX

Developer: Asiana Homes, Inc. Product type: Quadruplex house Architect: Rowell Alipio and Charmaine Pulga Completion date: December 2025 Total land area: 11.06 hectares Number of units: 392 Average unit size: 70 sqm Facilities: Linear parks, basketball court, playground, multi-purpose hall, pool Price range: PHP2.569–3 million Contact: Tel: (+63) 919 913 1504 Email: marketing@asiawideland.com Address: ONE ASIAWIDE LAND CORPORATE CENTER, Brgy. Cataning, Roman Expressway, Hermosa, Bataan 2111, Philippines

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Royal Oceancrest Mactan Lapu-Lapu City, Philippines Royal Oceancrest Mactan is a resort-style condominium development in Lapu-Lapu City in Mactan, Cebu. Situated along Sudtunggan Rd in Brgy. Basak, Royal Oceancrest Mactan is envisioned as a favourable location for home buyers and their potential tenants. The project comprises elegantly constructed residential towers highlighted by open lobbies, wide hallways, and well-ventilated staircases. Royal Oceancrest Mactan is designed to offer resort-inspired amenities such as swimming pools, a gym, shooting hoops, and grilling stations. The site has extensive open spaces, encompassing manicured gardens, jogging paths, and a play area.

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All the essentials for comfortable tropical living can be found at Royal Oceancrest Mactan. Residents enter their units to find semi-furnished rooms. The units also feature a neo-Asian design, making them flexible to different types of tenants. WINNER

Royal Oceancrest Mactan is kept convenient, safe, and secure with features such as a closed-circuit television (CCTV) system, fire alarm and sprinkler system with fire exits, and standby generator sets. Each home is equipped with a smart door-lock system. Royal Oceancrest Mactan is just a short drive from Mactan–Cebu International Airport, one of the busiest airports in the Philippines.

BEST ECO FRIENDLY CONDO DEVELOPMENT Royal Oceancrest Mactan by Primary Homes, Inc.

2023

FACT BOX

Developer: PrimaryHomes, Inc. Product type: Condominium Architect: PrimaryHomes, Inc. Launch date: July 2021 Completion date: December 2026 Total land area: 28,052 sqm Number of units: 952 Average unit size: 34 sqm Facilities: Clubhouse with function rooms, Skydeck, gym, pools, shooting hoops, play area, jogging path, manicured gardens, grilling stations, bamboo tunnel, garden pods, and more Monthly maintenance fees: PHP75 per sqm Price range: PHP2-7.15 million Contact: Tel: 09274433557 Email: lccastaneda@primaryhomes.com

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Mahi Center Cebu, Philippines

Mahi Center is an upcoming business and lifestyle landmark set to rise in the heart of Mactan, Cebu. Part of the Mactan Economic Processing Zone in Lapu-Lapu City, the mixeduse project is in close proximity to the international airport. Due to its desirable location, Mahi Center is poised to become a hub for travellers and locals looking for tailored business and leisure experiences. Housing commercial, retail, and hospitality experiences in one complex, this integrated centre includes a five-floor office tower catering to global and BPO companies that drive employment opportunities in Cebu. The office tower has direct access to a boutique shopping mall. The retail component of Mahi Center is home to a well-

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curated roster of local and foreign brands, a major supermarket chain, coffee shops, and anchor food brands, responding to the different needs of the communities and businesses within the area. Mahi Center is also home to Fairfield by Marriott Cebu Mactan, a nine-floor premier global business hotel with 196 rooms for occupancy. Managed by Marriott International, the world’s largest hotel operator, Fairfield accommodates vacation and business travellers alike with amenities that include an array of meeting and function rooms. The hotel is aimed at delivering an inviting experience to guests and providing them with the comforts of home while they are on the road.

FACT BOX

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WINNER

HIGHLY COMMENDED

BEST MIXED USE ARCHITECTURAL DESIGN

BEST MIXED USE DEVELOPMENT

Mahi Center by AppleOne Group Inc.

2023

Developer: AppleOne Group Product type: Mixed-use development (commercial, retail, hospitality) Architect: ArchiGlobal Inc. Launch date: 2020 Completion date: Q2 2024 Total land area: 7,556 sqm Facilities: Retail (3-floor boutique mall), hospitality (9-floor business hotel), commercial (5-floor office tower) Contact: Tel: (+63) 2 266 42 37 Email: mahicenter@api.com.ph Address: Lot No. A2.3A, MEZ 1, Ibo Lapu-Lapu City 6000 Cebu, Philippines

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Blossoms By The Park one-north, Singapore Blossoms by the Park is a condominium development at one-north, Singapore’s knowledge-intensive enclave designed and master planned by world-renowned Zaha Hadid Architects. Rising 27 storeys high, it is the tallest residential tower in one-north. Due to its remarkable location, Blossoms by the Park gives its residents the opportunity to live, work, play, and learn at the epicentre of research, development, and technology in the city, amidst distinct habitats like nature parks, leisure niches, educational institutions, and retail amenities. The tower, which stands on elevated ground, provides occupants with panoramic vistas of the powerhouses of technology in Singapore as well as the verdant greenery of one-north Park, which is seamlessly connected to the development.

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Blossoms by the Park is a well-connected development. It is just a three-minute walk from the Buona Vista MRT and two-minute drive from Ayer Rajah Expressway. Star Vista is also a five-minute walking distance from the development while Holland Village and Clementi Mall are both one MRT stop away. With only 275 units available, the project is very exclusive. Every home has a balcony, where residents can take in unobstructed vistas of the area and extend their living spaces. On ground level, residents have easy access to retail conveniences. Living at Blossoms by the Park is also made convenient with smart kitchen appliances from Kuche and smart digital locks from Igloohome, along with branded fittings and finishes from Grohe and Geberit. The development also features fast charging points for electric vehicles.

WINNER

BEST PRIVATE CONDO INTERIOR DESIGN Blossoms By The Park by EL Development Pte Ltd

2023

FACT BOX WINNER

HIGHLY COMMENDED

BEST PRIVATE CONDO LANDSCAPE DESIGN

BEST PRIVATE CONDO DEVELOPMENT

Blossoms By The Park by EL Development Pte Ltd

Blossoms by The Park by EL Development Pte Ltd

2023

Developer: EL Development (Buona Vista) Pte Ltd Product type: Condominium Architect: ADDP Architects LLP Launch date: April 2023 Completion date: December 2027 Total land area: 85,652 sq ft Number of units: 275 Average unit size: 872 sq ft Facilities: 50m lap pool, wellness pool, kid’s pool, lawns, BBQ pavilions, arrival courtyard and water feature, bicycle hub, kids’ play area, function room, entertainment room, gymnasium, changing rooms with steam room, yoga deck, greenery verandah, and community garden Contact: Tel: 8189 1690 Email: sales@eldev.com.sg Address: Sales Gallery located opposite Nucleos @ 21 Biopolis Road, Singapore 138567

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Pullman Singapore Hill Street Hill Street, Singapore Pullman Singapore Hill Street is the latest hospitality offering from EL Development (Ventures) Pte Ltd. The railway travel themed hotel incorporates design elements inspired by the rich history of Hill Street while paying homage to the Pullman Hotel brand’s own heritage. Driven by the location’s past, the architectural design of the hotel artfully combines travellers’ sensibilities with Singaporean expressions, resulting in a harmonious interplay. The architects, led by DP Architects Pte Ltd, aim to seamlessly integrate the Pullman Hotel brand into the unique culture, traditions, and influences of the locality. A standout feature of the hotel is its façade, showcasing an intricate network of plexus elements. The interior design meanwhile takes inspiration from the terrain, using lighting to evoke a sense of the foothills, as 176

well as the seat of governance. The first-floor lobby has captivating feature walls and lush greenery, bringing nature into the building. The building’s strategic location maximises the visual interactions with the surroundings. Guests can enjoy panoramic vistas of Marina Bay, Chinatown, and Fort Canning, with the unique orientation of the project optimising these views. Housing the reception and executive lounge, the central court on the third floor serves as the heart of the development. The hotel also has pools on the same floor and the rooftop. Each provides distinct experiences, with the third-floor pool serving as an enclosed oasis and the rooftop pool evoking a special ambiance, inviting interaction with the iconic infinity pool at Marina Bay.

WINNER

BEST HOTEL DEVELOPMENT Pullman Singapore Hill Street by EL Development Pte Ltd

2023

FACT BOX WINNER

WINNER

BEST HOTEL ARCHITECTURAL DESIGN

BEST HOTEL INTERIOR DESIGN

Pullman Singapore Hill Street by EL Development Pte Ltd

2023

Developer: EL Development (Ventures) Pte Ltd Product type: Hotel Architect: DP Architects Pte Ltd Launch date: October 2023 (soft opening) Completion date: October 2023 Total land area: 39,738 sq ft Number of rooms: 350 Average room size: 25 sqm Facilities: 25m lap pool, rooftop pool, gymnasium, Madison’s (New York themed restaurant, Moga (Japanese Izakaya restaurant), El Chido (rooftop bar), Iron Duke (cigar room), and executive lounge Contact: Tel: +65 6019 7888 Email: HB5L7@accor.com Address: 1 Hill Street, Singapore 179949

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The Continuum

Thiam Siew Avenue, Singapore The Continuum is freehold development on approximately 269,000 square feet of prime land along Thiam Siew Avenue, the largest new freehold plot in the East. Bounded by Tanjong Katong Road and Haig Road, The Continuum is peacefully tucked away from the main thoroughfares where one exclusive address connects two majestic sites. The Continuum translates the opportunity to envision a rare blend of modern luxury and culturally richness. With a 2.8 plot ratio, the site consists of 6 nos. of 17/18-storeys tower blocks, 816 units comprising a range of 1+ Study to 5-bedroom unit types. Two different unit collections are exceptionally tailored to meet the various needs and family sizes. Signature Collection units are efficiently designed with thoughtful integration to amplify space. Whereas the Prestige Collection offers an exclusive private lift lobby for your privacy and

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comfort. The living and dining for the 4 and 5-bedroom flooring are finished in marble with natural stone for dry kitchen counter complementing the VZug appliances. The Continuum residing at Thiam Siew Avenue is also well connected with expressway and public transport at a stone throw. Young children will also be spoiled for education choices by the proximity to well-known institutions such as Kong Hwa School, Ngee Ann Primary, Chung Cheng High School, etc. With Joo Chiat, Katong, Marine Parade and Paya Lebar in your backyard, residents of The Continuum will enjoy great food and be culturally enriched whilst immersing in the historical warm bed of traditions and modern exploration.

WINNER

BEST PREMIUM CONDO DEVELOPMENT The Continuum by Hoi Hup Sunway Katong Pte Ltd

2023

FACT BOX WINNER

WINNER

BEST LIFESTYLE DEVELOPMENT

BEST PREMIUM CONDO ARCHITECTURAL DESIGN

BEST SALES GALLERY ARCHITECTURAL DESIGN

The Continuum by Hoi Hup Sunway Katong Pte Ltd

2023

Developer: Hoi Hup Sunway Katong Pte Ltd Product type: Apartment Architect: P&T CONSULTANTS PTE LTD Launch date: April 2023 (showflat preview) Completion date: Q4 2027 Total land area: 269,000 sq ft Number of units: 816 Average unit size: 876 sq ft Facilities: Pools, coves, heritage zone, gyms, pavilions, lawns, lounges, decks, gardens, sky bar, Jacuzzis, hydrotherapy pocket, Vichy shower beds, library, club room, glass house, multipurpose recreational court, playgrounds, bicycle parking, accessible toilets, and more Monthly maintenance fees: SGD360-480 Price range: Signature Collection from SGD26xx psf Prestige Collection from SGD27xx psf Contact: Tel: 6311 9555 Email: enquiry@hoihup.com Showflat Address: Opposite 17 Rose Lane

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Artist’s Impression

Lentor Modern

Lentor Central, Singapore Lentor Modern is set to be the first and only integrated mixed-use development to be built in Lentor precinct. Set on a 1.7-hectare site surrounded by parks and reservoirs, the development features a 96,000-square-foot shopping mall and a direct connection to the MRT. A transit-oriented mixed-use development, Lentor Modern offers its homeowners the “One Lift Ride Lifestyle”. This means residents can simply take the lift from their units straight down to the shopping mall, which houses diverse retail and F&B options and a 12,000-sq-ft supermarket. A 10,000-sq-ft childcare facility is also available within the development. The Lentor MRT station entrance building is seamlessly integrated with the Lentor Modern mall. With just one train ride from

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Lentor MRT station, homeowners can reach Orchard Road, Singapore Botanic Gardens, the Central Business District, Marina Bay, Gardens by the Bay, and the East Coast. The landscape and design of Lentor Modern pay tribute to its historic site, which once housed a freshwater stream, and draw inspiration from an ancient Chinese cultural activity known as 曲水流觞 (“winding stream party”). A 200-metre-long interconnected waterbody, located on the facility deck, complements the site’s many gardens, pavilions, and communal amenities. Lentor Modern offers a versatile “Flex Room” in all its two- to four-bedroom units. This flexible space evolves with the needs of residents to suit a range of functions, such as a playroom, study room, walk-in wardrobe, guest bedroom, and a workspace.

WINNER

BEST DEVELOPER GuocoLand

2023

FACT BOX

Artist’s Impression

WINNER

BEST PRIVATE CONDO DEVELOPMENT

BEST INTEGRATED DEVELOPMENT

BEST PRIVATE CONDO ARCHITECTURAL DESIGN

Lentor Modern by GuocoLand

2023

Developer: GuocoLand Product type: Mixed-use development Architect: ADDP Architects Launch date: September 2022 Completion date: H1 2026 Total land area: 186,000 sq ft Number of units: 605 Average unit size: 917 sq ft Facilities: Grand Clubhouse, 50m lap pools, leisure pool, spa pool, dance studio, games room, sun deck, water cascades, jacuzzi alcove, indoor gym, tennis court, and more Monthly maintenance fees: SGD44 per share value Price range: SGD1-3.43 million Contact: Tel: 8125 8625 Email: sales_enquiry@guocoland.com Address: 1 Wallich Street #31-01 Guoco Tower Singapore 078881

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Campus by The Assembly Place Telok Kurau, Singapore Campus by The Assembly Place is a premium 426-bed co-living student accommodation in Telok Kurau. This co-living space spans more than 100,000 square feet with more than 20 facilities tailored to students. These include social kitchens, study pods, indoor gyms, and an outdoor CrossFit zone, with landscapes that feature hideout gardens and pavilions. Designed with the utmost consideration for students’ needs, Campus by The Assembly Place offers a blend of privacy, community, and convenience. Within the rooms, the use of modular bed systems provides a balance of privacy

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and shared spaces. This enables students to unwind, focus, and rejuvenate in their own spaces. More than just an accommodation, Campus by The Assembly Place also focuses on community building through a range of events and activities catered for the students. Its strategic location along 116 Lorong J and 119 Lorong K Telok Kurau gives unparalleled convenience to students. Situated near educational institutions and surrounded by an array of amenities, students can effortlessly balance their academic and social lives.

WINNER

BEST CO LIVING SPACE

BEST CO LIVING OPERATOR

Campus @ Telok Kurau by The Assembly Place

The Assembly Place

2023

FACT BOX

Developer (operator): The Assembly Place Product type: Student hostel Launch date: October 2023 Total land area: 100,000 sq ft Number of beds: 426 Facilities: Social kitchen, social dining and study space, lounge, indoor gym, CrossFit gym, multipurpose court, communal terrace, and more Contact: Tel: 8127 7418 Email: samann.loh@theassemblyplace.com Address: 116 Lorong J and 119 Lorong K Telok Kurau, Singapore 425946 and 425760

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La Felice Villa Hua Hin Hua Hin, Thailand

La Felice Villa Hua Hin is a luxury landed housing development along Soi 112 in Hua Hin. The gated community has 16 luxury pool villas, each built to the customer’s satisfaction with high-quality materials. Each villa is unique, with clients encouraged to customise their dream homes as they see fit. The site gives residents a spectacular view of the sunrise and sunset as well as the beautiful hills surrounding the community. The homes exude a contemporary style, with wooden details that endow them warmth and a cosy atmosphere, complementing the modern, minimalistic design of the units. The interior design is thoughtfully crafted with a spacious living room area that features a 5.2-metre-tall ceiling and a six-metre-wide window opening to the 184

terrace and pool area. The double walls of the villas are made of tan bricks and come with Euro-profile aluminium window frames. All furniture in La Felice villas is custommade, adding a unique, personal touch to every house. WINNER

The pool uses an overflowing system, akin to high-end hotel infinity pools, and the use of marble for the pool floor adds a beautiful shade of blue to the water. Multiple rooms in the villa have direct access to the pool. Each house also uses smart home innovations, giving homeowners control of all functions through their mobile devices. In turn, homeowners can monitor their abodes from wherever they are in the world. The project also features a license plate recognition system, utilising advanced algorithms to recognise authorised vehicles before entering the community.

BEST HOUSING INTERIOR DESIGN (HUA HIN) La Felice Villa Hua Hin by PNP Real Estate Co., Ltd.

2023

FACT BOX WINNER

WINNER

HIGHLY COMMENDED

BEST HOUSING ARCHITECTURAL DESIGN (HUA HIN)

BEST HOUSING DEVELOPMENT (HUA HIN)

BEST SMART HOME DEVELOPMENT

La Felice Villa Hua Hin by PNP Real Estate Co., Ltd.

2023

Developer: PNP Real Estate Co., Ltd. Product type: Luxury pool villas Architect: Mobius Studio Launch date: March 2023 Completion date: April 2025 Total land area: 6-1-10 rai (10,196 sqm) Number of units: 16 Unit size: 300-450 sqm (living area), 412-744 sqm (land area) Services: Internal road and street lighting, 24hour security and CCTV surveillance, gardening maintenance, juristic service, LPR (license plate recognition), garbage collection Monthly common fee: THB5,000 Price range: THB10.9-18.9 million Contact: Tel: +66 98-974-2533, +66 81-774-4669 Email: lafelicehuahin@gmail.com Address: 10/244 Soi.MooBaan Hua Na 21 Nong Kea HuaHin Subdistrict, Hua Hin District, Prachuap Khiri Khan 77110, Thailand 185

DURING TET, MILLIONS OF VIETNAMESE TAKE A BREAK OR VISIT THEIR HOMETOWNS TO EXPLORE POPULAR SIGHTS LIKE THE DRAGON BRIDGE IN THE RESORT CITY OF DA NANG, A FITTING SYMBOL FOR THE LUNAR NEW YEAR. HIT1912/SHUTTERSTOCK

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