PropertyGuru Property Report No.183 (April - May 2024)

Sinar Mas Land

Sinar Mas Land

For over 25 years, Aboitiz Land has stayed true to its promise of innovating ways to bring more Filipinos home through its thriving master-planned communities. It now looks to further expand its reach by continuing to develop innovative and fullyintegrated communities in more locations across the Philippines. A subsidiary of the Aboitiz Group, it is built on a firm foundation with a hundred-year heritage of advancing business and communities.

www.brittany.com.ph

www.arquitectonica.com

With offices in Miami, New York, Los Angeles, Palm Beach, Paris, Dubai, 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.

Brickell City Centre, Miami

Permata Sapura Tower, Kuala Lumpur

Hall of the Sun, Shanghai

GDH Plaza, Panyu

Iconic riverfront development with integrated lifestyle offerings

Rivière, a collection of 455 luxurious units nestled in the heart of Singapore's historic Jiak Kim Street, offers iconic quayside living at a highly coveted address. Since achieving TOP in January 2023, Rivière has garnered acclaim both locally and internationally that underscores its excellence in design and innovation. It is a testament to Frasers Property Singapore's exceptional capabilities in creating iconic living spaces.

AWARD-WINNING WATERFRONT LIVING IN THE HEART OF THE CITY

Unparalleled riverside living with lifestyle o erings in the vicinity, stunning views, lush greenery, rich history and bespoke amenities right by the Singapore River Promenade

BEST

BEST

BEST

Rivière seamlessly blends state-of-the-art homes with commercial spaces and amenities, creating a harmonious fusion of city living and heritage riverside recreation. Each residence is a masterpiece of modern design, offering residents an oasis of contemporary living redefined.

Integrated with award-winning Fraser Residence River Promenade, Rivière offers priority access to bespoke Frasers Hospitality services for residents. Three heritage warehouses with curated lifestyle offerings complete the development.

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

Senior Solutions Manager (China and India)

Huiqing Xia 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

Head of Awards (Malaysia)

June Fong Assistant Manager, Awards (Malaysia)

Jess Lee Senior Solutions Manager (Philippines)

Marylourd Pique Solutions Manager (Philippines)

Maria Elena Sta. Maria Awards Manager (Singapore)

Alicia Loh

Senior Account Director (Thailand)

Kritchaorn Rattanapan

Head of Awards & Developer Business (Vietnam)

Nguyen Tran Minh Quan

Account Manager, Awards Sponsorship

Priyamani Srimokla

Distribution Manager Rattanaphorn Pongprasert

120

Neighbourhood Watch: Siem Reap

Cambodia’s “temple town” is bolstering its touristfriendly attributes with new infrastructure and residential developments

146

Destination: The Philippines

The nation is reasserting its position as one of the world’s hottest markets for luxury homes, thanks to its liberalised economy

124

Special feature: A heady mix

Dynamic integrated communities are fusing real estate with commercial, leisure, and other amenities

170

Dispatch: General continuity

President-Elect Prabowo

Subianto is likely to build on recent low-inflation and infrastructure successes

136

Destination: Thailand

High interest rates and rising inflation are hitting developers and end users in the Kingdom

178

Dispatch: On the move

Reforms to China’s household registration system may accelerate internal migration with significant impacts on real estate

ADVERTORIAL

A HOME FOR EVERYONE

Verna brings together a collection of lifelong homes within a flourishing recreational environment, nestled in the modern-day, growing township of Serene Heights

Property seekers today increasingly demand that life’s necessities be easily accessible from their homes. Responding to this clamour, developers have created integrated townships, meticulously planned communities that feature their own parks, infrastructure, utilities, management facilities, healthcare centres, and educational institutions, on top of residential and commercial properties.

Pedestrian-friendly and well-linked to public transportation hubs, townships are like mini-cities but without the drawbacks of traffic congestion and pollution. People can work, seek recreation, and spend time with loved ones in ways they couldn’t in the big city.

Serene Heights exemplifies a visionary masterplan of a well-balanced, self-

sustaining township in Malaysia. At its heart lies Verna, a 43-acre neighbourhood embraced by the lush expanse of the serene Creekside Parkland. This accessible, inclusive community features two-storey terrace houses, clusters, and semi-detached homes amid breezy waterways and recreational spaces.

With Verna, developer UEM Sunrise Berhad has created a caring community with many spaces for neighbours to congregate. Verna keeps families safe and secure but is still seamlessly connected to recreational parks and facilities around the neighbourhood via pedestrian pathways.

Verna provides homes that enhance the family experience and encourages good connectivity between the indoor and outdoor spaces. The project promotes

social equity by offering future-proof, resilient assets that allow homes to adapt to inter-generational families and grow in value with residents.

The design takes inspiration from past and present Malaysian homes, creating spaces that rekindle familiar memories of a typical Malaysian family.

Taking design inspiration from a traditional Malaysian home, Verna façade features warm and inviting tones with a modern interpretation of a typical traditional home elements. The homes feature slated glass windows, brick veneers, walls and roof eaves with warm hued tones, reminiscent of the tones of a traditional timber house.

Several homes also feature an alternating, multi-façade design, creating an interesting architectural

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language catering to the discerning taste of the modern Malaysian. The rhythm and proportion of the facade are also carefully established to create a stylish, welcoming frontage.

The introduction of large fenestrations, lanais, large overhang roofs and slated glass windows allows plenty of air and ventilation into the homes while maintaining privacy. From the comfort of the lanai, residents can connect with nature, breathe in fresh air, and enjoy the scenic view of the lush, public Creekside Parkland.

Just as these modern homes retain the timeless charm of old-fashioned dwellings, the landscape design also draws inspiration from traditional games such as congkak and gasing. Multi-generational play equipment is available to the community, ensuring endless enjoyment for families of all ages, a safe space for adults and children alike.

A nature-adjacent lifestyle of daily wellness and relaxation is possible at Verna, thanks to a plethora of recreational amenities. The homes feature multi-purpose gardens while the community offers an extensive network of walking treks and other opportunities to stay fit, such as the multi-purpose court for playing badminton and takraw. Family, friends, and neighbours can gather with ease

and bond at relaxing communal spaces across the community, from the lovely banks of the creekside to charming gazebos.

Located in fast-growing Semenyih town, between Selangor in Greater Klang Valley and Negeri Sembilan in Malaysian Vision Valley, Verna offers modernity and accessibility close at hand. Served by major highways such as North-South Highway, SILK, and LEKAS, the township is only a stone’s throw away from mature developments such as Bandar Baru Bangi and Kajang.

After the success of its first residential phase, Serene Heights will continue to expand as a township in the future, with the aim of introducing more residential typologies to the market. Several

projects will further bring excitement to the township such as Intrika and Serene Square.

Intrika, launched in October 2023, will offer freehold double-storey terrace homes in the township. Infused with timeless Nusantara touches, the homes capture a sense of splendour from the lush garden area to breezy indoors.

With plans for thousands of homes to be constructed, Serene Heights is a truly future-ready township, and right now there’s a nurturing home for every growing family at Verna.

For further information regarding the ongoing and upcoming launch, you can call or WhatsApp at 012 - 648 7433

EDITOR’S NOTE

Issue 183

Asia’s cities are legendary for their energy and dynamism. From the neon-lit centre of Bangkok to the motorbike-packed streets of Hanoi and Ho Chi Minh City, the region’s urban conurbations are wellsprings of life and are vital economic drivers for their countries. Yet, these buzzing hubs face a host of challenges, many of them as imposing as the lofty towers that scatter their respective skylines.

According to predictions by the Asian Development Bank (ADB), more than 55% of the population of Asia will be urban by 2030. Pressing issues to consider with this in mind include pressures on water supply, infrastructure, urban transport systems, and land development. And it is to these posers—and other questions—we turn to in this, our Cities issue.

Many see the establishment of mixed-use developments as a crucial way of maximising limited urban space. With several landmark projects nearing completion, we cast an eye over some of the region’s most eye-catching city-based projects. Elsewhere we look at what proposed reforms of China’s hukou (household registration) system might mean for internal migration within that vast nation.

We also have the chance to quiz author David Gissen on his views on how urban planners can make cities more geared to people with disabilities.

Duncan Forgan Property Report duncan@propertyguru.com

ADVERTORIAL

NEW DIRECTIONS IN SUSTAINABILITY

Through award-winning projects, Malaysian developer Eupe builds socially sustainable homes to create last more lasting value for its buyers

A home is much more than just the biggest investment a person can make.

It’s where families are raised, where loved ones and friends connect, and where memories, hopes, and dreams grow. The quality of a home plays a big part in physical and mental wellbeing.

Eupe Corporation Berhad, one of Malaysia’s most innovative and trusted development companies, believes that developers owe it to their customers to design the very best homes so buyers can live their best possible lives.

Having built more than 25,000 homes since its founding in 1986, Eupe Corporation Berhad has evolved over the years to ingrain powerful, transformative lessons within the company. One of its latest commitments is its most meaningful yet: Sustainability is also social.

The company has developed a unique strategy called Sustainability Plus, giving property seekers the very best in social sustainability.

“Together, our Sustainability Plus framework seeks to not only address existing sustainability challenges but anticipate and address emerging ones, while recognising the pivotal role that property developers have in addressing them,” says Dato’ Beh Huck Lee, group managing director of Eupe Corporation Berhad.

“The built form of a home is the biggest point of leverage to make and sustain a positive difference to the social and individual well-being of our buyers. We view this role as our core responsibility.”

Simply put, Eupe’s Sustainability Plus approach comprises four distinctive design principles: healthy air, iconic design, green community, and smart connectivity.

Since 85% of breathable air is found indoors, the company’s projects are designed to harness outside airflows and circulate life-enhancing, natural air among residents. The projects employ passive cooling techniques, reducing reliance on air-conditioning, and

EST8 IS JUST A SHORT DISTANCE FROM THE MID VALLEY SHOPPING PRECINCT

typically include single-loaded units, an atrium, and gardens, promoting true cross-ventilation throughout buildings.

With its projects, the company aims to create inspiring spaces for people to come home to. Whether high-rises or horizontal projects, these spaces feature unique architecture that redefines the skylines of Malaysia and even captivating artworks that elevate the mental state. Expertly designed, these properties have the power to unite people and etch unforgettable memories.

More than just individual properties, Eupe’s projects form a green community, connecting residents to the rhythm of nature as well as each other.

Finally, Eupe designs physical as much as digital spaces so buyers can share in the best social amenities and conveniences.

Winner of three titles at last year’s PropertyGuru Asia Awards Malaysia

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with iProperty, Est8 @ Seputeh exemplifies respect for occupants’ physical wellbeing with profound solutions for air quality.

Filtering the air, increasing biodiversity, and cooling the building, landscape covers 73.6% of Est8’s site area. The project, which won the coveted Best High-Rise Development (Malaysia) award, among others, boasts three types of sky gardens, private duplex gardens, and townhouse villas with gardens in the sky. It even has a rooftop urban farm, encouraging residents to grow their food from home.

Est8 additionally encompasses an urban art gallery and artistic oeuvres

that offer peace of mind and stimulate creativity among residents. For instance, the Garden of Giants features sculptures in a space that doubles as an outdoor gymnasium while the Cloud Maze and Paradise Blue Garden utilise sculptures to create a one-of-a-kind kids’ playground.

The property also has distinctive spaces like the Kaleidoscope Kitchen, Grand Burrows, and Secret Burrows, where individuals can get to know each other better in diverse settings.

Parc3, recipient of two titles (including High-Rise Development of the Year) at the 2022 Awards, also represents these principles well. The development

has green spaces that go above and beyond the area mandated by planning regulations. Serving as expansive recreational areas, these spaces offer ample room for rest, relaxation, and community and redirect cool, natural air into residences.

These projects and future ones, like Circadia @ Belfield and Edgewater, express Eupe’s core business philosophy, Shared Value. This means that Eupe is committed to giving property seekers more for less: Great architecture, lifestyle facilities, and sustainability features do not have to come at a heavy price.

Beyond just building homes with exceptional attributes, Eupe supports organisations that foster community bonds. Such a unique approach to sustainability is about making a real difference to the lives of buyers for many decades to come.

In laying out these principles, Eupe ensures that its homes and developments are embedded with the greenest ideas and most socially sustainable practices, tailored to every development for maximum benefits.

Building lifestyles, building trust—this is the Eupe promise.

KALEIDESCOPE KITCHEN - ONE OF THE MANY DISTINCTIVE FACILITIES AT EST8

EST8’S EXTERIOR IS ADORNED WITH GIANT SCULPTURES CELEBRATING NATURE

THE LIFE AQUATIC

Explore the wet and wild world of waterproof and water-resistant devices

WATERY RAVE

The Bang & Olufsen Beosound A1 is watertight listening at its best, due to an IP67 rating and a water-resistant aluminium dome. The Bluetooth speaker, equipped with a microphone and Alexa capabilities, offers music on the go for 18 hours with a peak power of 2x140 watts.

USD299, bang-olufsen.com

DETAILS

DEEP IMPACT

With the Naenka Runner Diver2, you can literally swim to 32GB worth of songs for 10 hours. Dive into an immersive listening experience through the IP68rated headphones’ bone conduction mechanisms, supported by OT leakage reduction 3.0 technology that keeps sounds from escaping.

From USD139.49, naenka.com

SWEAT SYMPHONY

Even if you’re away from the water, your devices are still at the mercy of perspiration. With an IPX7 rating and exclusive SweatGuard technology, the Soundcore Anker Sport X10 earbuds protect against liquid intrusion, especially of the bodily kind.

USD69.99, soundcore.com

POOLSIDE PROSE

Not everyone heads to the pool for a swim; some prefer to relax with a good book. With the waterproof Kobo Sage eReader, you can enjoy your reading even in the tub. The touchscreen device also supports Bluetooth connectivity for great audiobook listening.

USD269.99, kobobooks.com

MILITARY TIME

The Polar Grit X can be submerged as deep as 328 feet, thanks to its WR100 rating; it can even detect swimming strokes. This multisport, military-standard watch has also been tested for extreme temperatures, drops, and humidity. It has built-in GPS and an exceptionally long battery life.

EUR599, polar.com

ADVERTORIAL

INSPIRATION FOR EXCELLENCE

Recognised as the Best Developer in Malaysia, WCT Land is a lifestyle community developer that is building self-sustaining cities and homes in the country

Affordable luxury is a paradox that is fast becoming a reality for real estate. Developers are redefining luxury by offering top-notch built spaces and amenities to a broader market segment.

WCT Land Sdn. Bhd. (WCT Land), the property development and property investment and management division of WCT Holdings Berhad (WCT), is a leader in developing acclaimed luxury homes and high-rise residences on the affordable tier. A lifestyle community developer, WCT Land is also known for its portfolio of award-winning townships, commercial developments, office towers, hotels, and shopping malls.

The esteemed developer has delivered almost 18,000 units of residential and commercial properties for more than

27 years. 2023 was a landmark year for the company as it won nine golden statuettes at the 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty, including the biggest, most coveted title of the year: Best Developer (Malaysia).

WCT Land, also the winner of the Best Mixed Use Developer award, has proven its versatility, able to incorporate different types of development into a single site. One of its upcoming projects, WCity Larkinton Johor Bahru, is an integrated development spanning 68 acres of prime freehold land near the Johor Golf and Country Club. The masterplan will be home to everything from business towers to a convention centre and hotels, all amid lush green spaces—a cosmopolitan haven with the potential for up to 80% foreign ownership.

AdisonWest, Larkinton’s inaugural project, has freehold serviced apartments with lively retail units. The award-winning project is also designed with abundant green spaces, including 2.8 acres of open podium parklands.

Similarly, WCT Land is building a self-sustaining city within a city called WCity OUG @ Kuala Lumpur. The 63-acre project will contain diverse commercial and retail spaces, complemented by premium homes such as the three-tower residential development known as Maple Residences. At the heart of the development is a 2.9-acre central park with an urban forest and retail village, in addition to many walkable, wellconnected public spaces across the city.

WCity Larkinton Johor Bahru

WCT is also celebrated for its highrise residences, particularly Pavilion Mont Kiara, which last year earned three prestigious awards, including Best Luxury High-Rise Architectural Design and Best Luxury High-Rise Development (Central). Located in the premier neighbourhood of Mont’ Kiara, this freehold, two-tower residential complex offers uninterrupted skyline vistas of the National Palace and Kuala Lumpur City Centre. Residents enjoy exceptional amenities, ranging from a boxing studio to a tea pavilion and glasshouse.

Homeowners reside in a diverse selection of condos and penthouses with spacious layouts, with the option of a private lift lobby. Pavilion Mont Kiara also contains sixbedroom private villas with their own carparks, lifts, and pools. As the winner of the Best High-Rise Landscape Design award, Pavilion Mont Kiara is embellished with many nature-inspired elements, combined with sustainable features such as a rainwater harvesting tank system.

For its environment-conscious efforts, WCT Land was honoured with Special

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Recognitions in Sustainable Design and Construction and CSR. Projects such as Pavilion Mont Kiara utilise eco-friendly fittings and promote the use of electric vehicles with the provision of charging bays. The company’s project sites are also known for their high green ratios with gardens, walking trails, and parklands.

Last year was an eventful one for the company. Apart from scoring multiple awards, WCT Land completed its Paradigm Johor Bahru project with the opening of a new hotel, Hyatt

Place Johor Bahru Paradigm Mall, in November 2023. Other successful completions include Bandar Bukit Tinggi 1, 2 and 2 in Klang and Sabah, and D’Banyan Residency, Sutera Harbour, Kota Kinabalu, Sabah

Looking ahead, WCT Land aims to always put customer satisfaction first, deliver tangible value to property seekers, and prioritise green initiatives and energy-efficient designs. The awards inspire WCT Land to remain committed to product excellence, innovation, and community wellbeing.

Pavilion Mont’ Kiara, Kuala Lumpur

Paradigm Petaling Jaya integrated development

WEATHER OR NOT

Come rain or shine, these inspired pieces of outdoor furniture are designed to stand out and stand strong

ALFRESCO APPEAL

The Article Calicut Loveseat Set can certainly beautify your patio. The set, which includes two lounge chairs, handsomely combines an aluminium frame, powder-coated against corrosion, with tightly woven polypropylene rope. It also has loose seat and back cushions with removable covers.

USD2,088. article.com

ON YOUR ROCKER

Hammacher Schlemmer’s Reclining Cool Mesh Rocker reimagines the zero-gravity chair as a rocking chair. Made from PVC-coated polyester, which is known for its slow heat absorption, this rocker can keep you cool outdoors. Ergonomic armrests and a padded headrest add to the comfort.

USD149.95, hammacher.com

MAINE EVENT

Martha Stewart and Polywood have collaborated on a fabulous 9-piece farmhouse dining set for their Acadia Collection. Inspired by Stewart’s Maine estate, the Craftsman-style set features trestle legs and lumber made from recycled plastic, guaranteeing outdoor resilience for all seasons.

USD5,549, polywood.com

SUNNILY ENOUGH

Teak and aluminium make a good-looking combo on Pottery Barn’s Malibu Daybed. With adjustable shades from the canopy to the sides, the daybed protects occupants against harsh sunrays. It also features adjustable backrests, a slatted rear wall, and optional Sunbrella cushions.

USD5,499, potterybarn.com

SITDOWN VIEW

Grandin Road’s Amalfi Bench captivates you with its geometric design and scrolled details. Constructed from solid eucalyptus and hand-finished with polyurethane, the parkbench-like seat can really defy the outdoor elements. Meanwhile, its slatted seat and open back design promote airflow and prevent water accumulation.

From USD239.20, grandinroad.com

PrimaryHomes' commitment to excellence in innovation, sustainability, and environmental responsibility

WINNER

BEST SUSTAINABLE DEVELOPER

WINNER

SPECIAL RECOGNITION IN SUSTAINABLE DESIGN

WINNER

BEST ECO FRIENDLY CONDO DEVELOPMENT

ROYAL OCEANCREST MACTAN

HIGHLY COMMENDED

BEST CONDO DEVELOPMENT (VISAYAS)

ROYAL OCEANCREST PANGLAO 2

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INDUSTRIAL REVOLUTIONISER

The Philippines’ push to become a competitive destination for industrial investors is paying dividends. Investment pledges have recently poured into the Philippines because of trade missions and policies that make the country more attractive to foreign manufacturers and industrial heavyweights.

These companies will, of course, require quality industrial spaces and warehouses over the next few years. Local industrial leaders, in turn, are expertly meeting the locators’ demands, contributing to the country’s economic expansion.

At the forefront of this growth is Aboitiz InfraCapital Economic Estates, the Philippines’ leading industrial developer. The company has won the title of Best Industrial Developer in Asia at the PropertyGuru Asia Property Awards for three consecutive years.

This serial recognition underscores the company’s extraordinary success not only in its home country but also on a regional scale.

With 1,600 hectares of industrial land development under its belt, the infrastructure division of Filipino conglomerate Aboitiz Group has become the top developer and manager of industrial estates across the archipelago. From the islands of Cebu to Luzon, its innovative projects have become the preferred address for more than 200 companies, employing 100,000 Filipinos.

Aboitiz InfraCapital Economic Estates has long been a vital partner with an economy that thrives on thousands of islands. The company is known for developing West Cebu Estate into the “Shipbuilding Capital of the Philippines.”

LIMA ESTATE, BATANGAS

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Asia’s finest industrial developer stands firmly behind the Philippines’ ascent as a regional hub for manufacturing, shipbuilding, and industries

For the past three decades, West Cebu Estate has driven economic and social progress outside Metro Cebu. The project has grown from an industrial park to a 540-hectare shipbuilding hub, transforming the humble town of Balamban into a thriving, first-class economic centre. As of May 2023, it has attracted PHP32 billion in investments across 12 locators.

West Cebu Estate marked its 30th anniversary in 2023 by winning the Best Industrial Development title at the 11th PropertyGuru Philippines Property Awards. This has further heightened Aboitiz InfraCapital Economic Estates’ anticipation for West Cebu Estate’s next chapters of growth.

“We are more inspired to continue pushing boundaries of innovation not only to transform our estate but also to become enablers of progress especially in the countryside, uplifting the

communities where we operate,” says Cyel Auza, the company’s vice-president for Cebu operations.

West Cebu Estate is embarking on a 39-hectare expansion that will diversify its uses far beyond the shipbuilding industry. Set to be completed this year, the massive, industrial-anchored, mixed-use estate will generate 14,000 jobs in addition to the existing workforce, spanning sectors such as automotives, manufacturing, and logistics.

By 2025, West Cebu Estate will have also launched a 3.3-hectare central business district (CBD) encompassing various commercial lots as well as food outlets, retail shops, basic services, a supermarket, and a transportation hub. These will enhance the quality of life for not only Balamban but also surrounding communities such as Toledo and Asturias.

WEST CEBU ESTATE, CEBU

In addition, Aboitiz InfraCapital Economic Estates is pursuing the Philippine Green Building Council’s BERDE (Building for Ecologically Responsive Design Excellence) District Registration for West Cebu Estate. This will solidify its credentials as a sustainable industrial destination.

Besides Cebu, the CALABARZON region in Luzon is gaining traction as an industrial hotspot in the Philippines. Much of this recognition stems from the presence of LIMA Estate, Aboitiz InfraCapital Economic Estates’ flagship development in the province of Batangas.

At 826 hectares, LIMA Estate is the largest privatelyowned, industrial-anchored estate in the Philippines. The project is a fully-integrated, industrial-anchored township, complemented by residential and commercial areas and one of the Philippines’ fastestgrowing CBDs.

Straddling the towns of Lipa and Malvar, LIMA Estate hosts 177 locators from around the world, with local and multinational companies alike providing livelihoods for over 66,000 people.

“Aboitiz InfraCapital Economic Estates is dedicated to partnering with the government to facilitate foreign investments and create employment opportunities for our fellow countrymen,” says Clifford Academia, vice-president for operations at LIMA Estate.

A locus of economic activity, LIMA Estate possesses all the qualities to become a smart city. With the support of Aboitiz Data Innovation and global infrastructural experts, the township enforces a comprehensive suite of smart city features. This includes the Central Estate Command Centre, a facility that can monitor and manage various estate functions in real time, from traffic to energy use, and respond swiftly to emergencies.

LIMA Estate’s strides towards becoming a smart city also mean making big steps towards achieving net zero emissions. The project has won multiple accolades at the PropertyGuru Philippines Property Awards over the years, most recently the title of Best Green Development.

ELECTRIC VEHICLES AT LIMA ESTATE

Recognised as Asia’s leading smart, sustainable, industrial-anchored estate, it made history as the first recipient of the 5-Star BERDE District Certification from the Philippine Green Building Council.

The 30-hectare CBD within LIMA Estate boasts an impressive 63% utilization of off-site renewable energy. The Outlets at Lipa, the retail component of the CBD and the largest outdoor lifestyle mall in Batangas, achieves 43% on-site energy utilisation. Additionally, its 1.5-megawatt-peak rooftop solar panel system offsets 31,000 tons of CO2 emissions annually—equivalent to planting 1.4 million trees. Furthermore, all future buildings within LIMA Office Park, a multi-tower complex catering to IT and BPO companies within the CBD, will rely solely on 100% renewable energy sources.

With self-sufficient, impressive industrial ecosystems like West Cebu Estate and LIMA Estate, Aboitiz InfraCapital Economic Estates effectively showcases the Philippines’ readiness to support the expansion of industries.

“Our success story underscores the immense potential that exists within our nation, and we’re excited to continue championing this cause, driving progress, and nurturing the talents of our local workforce,” says Auza. “We are determined not only to push the boundaries of innovation as we redefine industrial estates in the Philippines but also to drive progress in the countryside, uplifting the communities where we operate.”

Aboitiz InfraCapital Economic Estates is poised to unveil its 4th Economic Estate in Central Luzon during the second quarter of 2024, driven by the surging demand for industrial spaces throughout Asia. Spanning 200 hectares, this industrial-anchored mixed-use development is projected to create an additional 60,000 jobs for Filipinos, underscoring their dedication to advancing industries and improving the lives of the communities they serve.

SPLASH SEASON

Be cool for summer with these refreshing, hydrophilic diversions

NO HOLES ALLOWED

Inflatable pools, by nature, can burst any moment. For a more resilient option, consider the Summer Waves Quick Set aboveground pool, featuring walls of strong, three-ply polyester with a dark herringbone print. Metal frame pieces support the pool and add to its sturdiness.

From USD679.99, polygroup.com

DETAILS

JUST CHILLING

Now here’s a gun you can shout “freeze” with. When filled with ice cubes, the Nerf Super Soaker Freezefire 2.0 shoots a chilling blast of water up to 38 feet away, a potent antidote to the sweltering heat of Songkran.

USD26.99, hasbro.com

HEART IS FULL

Have a romantic dining experience inside the pool with a heart-shaped floating tray by JYSSH. Measuring 60cm in diametre, this rattan float can be filled with plenty of food and drinks. Cleaning is effortless—simply hose off and let it dry in the sun.

From USD134.78, amazon.com

PINK PARTY

Set yourself adrift on Member’s Mark Retro Pink Limo Island, an inflatable float that can accommodate up to six people. Made of heavy-gauge PVC with built-in coolers and cup holders, this floating giant is built to last the party.

USD199, amazon.com

WATER BIRTHS

Little Tikes’ Slam ‘n Curve

Slide embodies young summertime fun. Easy to assemble, the punctureresistant slide gently careens down to a splash pool with a basketball hoop. Leading to the slide is an inflatable rock wall, another fun challenge for tiny tots.

USD449.99, littletikes.com

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CITY LIVING REIMAGINED

SingHaiyi’s exceptional residential project sets new records and standards, redefining luxury living near Singapore’s East Coast

Over the course of a weekend in July 2023, some 10,000 individuals visited the award-winning sales gallery of the residential project known as Grand Dunman. The turnout set a record for the highest number of visitors to a preview of a residential development in Singapore since 2018.

It was also the fastest-selling project of the year. Out of 1,008 units available at Grand Dunman, 550 units were quickly purchased within a day of its launch, equivalent to an impressive take-up rate of 55%.

The popularity of the project, which is jointly being developed by SingHaiyi Group Pte Ltd and CSC Land Group (Singapore) Pte Ltd, only attests to its exceptional nature. Only a two-minute walk along Dunman Road from the Dakota MRT station, Grand Dunman is

one of those rare luxury projects that is exceptionally close to the MRT line.

Residents of Grand Dunman are only one stop away from Paya Lebar Quarter and five stops away from Bugis Junction, Gardens by The Bay, Marina Bay Sands, Marina Square, and Suntec City via routes such as the Circle Line, East-West Line, and the Downtown Line.

Nestled beside the Geylang River in District 15, Grand Dunman is composed of seven majestic towers, distinctive for their golden-hued architectural lines. The buildings command amazing views of the river and its surrounds, as well as sightlines of the city and the sea.

Grand Dunman is easily accessible from the Park Connector, where

residents can walk, jog, or cycle to such scenic seaside locations as the Marina Bay Waterfront Promenade, East Coast Park, and “Long Island”, an ambitious reclamation project along the south-eastern coast of Singapore.

Like a resort, Grand Dunman offers an extensive range of amenities, totalling more than 40 facilities. These include the 80m Grand Pool, Hydro Massage Pool, and an array of facilities, as well as kid-friendly areas like a Tree House Playground. A poolside clubhouse and gym overlook the waters through walls of glass while the oval-shaped Jewel Clubhouse simply shines.

Grand Dunman’s landscape unfolds beautifully with a welcoming lawn and fragrant garden that guide visitors to pavilions, decks, and gardens, encircling the serene lagoon

Artist’s Impression

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pool. The elevated treetop walk provides residents with an immersive experience in a leafy environment, complemented by a sensory garden and reading pavilion.

The towers give property seekers a wide selection of homes, ranging from one- to five-bedroom condominium units, each with its own carpark lot. The homes are also fitted with appliances and fixtures from renowned brands such as De Dietrich, Gessi, Kohler, and Miele.

Families with school-going children will find sought-after primary schools such as Kong Hwa, which is only 1 km away and Tanjong Katong Primary within a 2 km radius of the development. Grand Dunman is also just a few minutes’ drive from Chung Cheng High School and Dunman High School (Main).

For working professionals, Grand Dunman provides a seamless commute, especially by MRT, to the Central Business District and leading

commercial hubs such as Paya Lebar Square, Marina Bay Financial Centre, Raffles Place, and Suntec City.

For those seeking retail therapy, Grand Dunman is close to over a dozen shopping centres, including Kallang Wave Mall, Kinex, I12 Katong Mall, Parkway Parade, and Paya Lebar Quarter Mall. Dining options such as the Old Airport Food Centre and Dunman Food Centre are also within the vicinity.

Committed to “Building Excellence for Generations”, SingHaiyi has outdone itself with an excellent property such as Grand Dunman. With its emerging prime location, Grand Dunman accommodates a holistic lifestyle that gives families and individuals the freedom to enjoy the outdoor in a highly urbanised setting not far from schools, business districts, retail hubs, and other conveniences.

Grand Dunman rightfully earns all the praises and recognitions it has received for these reasons and more.

Artist’s Impression

Artist’s Impression

CALL OF THE SEA

With a design inspired by luxury properties in Miami, Armorel imports the pizazz of the Florida coastline to southern Queensland

BY AL GERARD DE LA CRUZ

Australia’s affinity for the water is widely documented. For all the vastness of the Outback, people tend to reside along the continent’s more habitable, less arid coasts.

Many of these residences are anything but ordinary. Stoked by Australia’s expanding high-net-worth populace, prestige home sales have heated up in seaside metropolises from Melbourne to Sydney.

In February, an international buyer forked out AUD7.7m (USD5 million) ahead of auction for a six-bedroom waterfront residence in Mermaid Waters, a suburb of Gold Coast.

The extraordinary attributes of the property, named Armorel (Gaelic for “One who lives by the sea”), appear to merit the investment. The double-storey mansion spans 22.1 metres of waterfront frontage, complete with a private beach.

A local agent had brought the developer, Capital Luxury Residences, to the almost 1,000-square-metre site at 84 Oceanic Drive, then owned by fitness influencer Rachel Dillon. By early 2022, the plot exchanged hands for AUD1.985 million.

The parcel’s location along a canal and the open waters of Lake Wonderland endeared it to the developer. “This made it an ideal canvas to create a special home,” says Philip Pezzi, chairman of Capital Luxury Residences.

Armorel marks the Queensland-based company’s 22nd project since its founding in 2019. Melbourne-based design practice Mason Bright has been a frequent collaborator on numerous projects for the company, and Armorel is no different.

“The design wouldn’t come together without the work from Mason Bright architects who brought this beautiful house to

life from sort of nothing to what it is now,” says Alissa Birch, chief executive of Capital Luxury Residences.

Birch, who also serves as the company’s design director, felt it important to conceptualise architecture inspired by luxury Miami properties, mixed with the essence of five-star hotels. Birch had immersed herself in resorts and homes along the southern Florida coast before embarking on the project design.

“The site provided many challenges with significant design parameters,” says Jim Giamarelos, co-founder and director of Mason Bright. “We are proud of the entire project team for rising to the challenge, meeting and exceeding the brief and ultimately delivering a timeless, luxurious, and opulent waterfront home.”

Giamarelos’ team worked with Birch and Pezzi for six months to finalise the design, a departure from the brown brick

structure that Dillon had called home. In its stead stands a humongous dwelling of stone and glass, embellished with cantilevered greenery and imaginative outdoor spaces.

The floorplan of the home was laid out in a U-shaped configuration, giving residents optimal views of the surroundings. Floor-to-ceiling windows and double glazing wrap the daylight-soaked home from front to rear, leading out to a sunken fire pit with panoramic lake views.

From the floors to the benchtops, the house uses copious amounts of stone internally. In the kitchen, a massive island, made from a single piece of sintered stone, showcases fluted legs and grooved characteristics that recall sandbanks. The curves of the joinery were also designed to be reminiscent of waves.

The Capital Luxury Residences team designed the lighting and tapware, manufactured specifically for the home. “All

RESIDENTS AND GUESTS CAN TAKE IN BREATH-TAKING WATER AND SUNSET VIEWS FROM THE SUNKEN FIRE PIT

WE ARE PROUD OF THE ENTIRE PROJECT TEAM FOR RISING TO THE CHALLENGE, MEETING AND EXCEEDING THE BRIEF AND ULTIMATELY DELIVERING A TIMELESS, LUXURIOUS, AND OPULENT WATERFRONT HOME

IN THE HEART OF KITCHEN STANDS AN OVERSIZED STONE ISLAND, FEATURING GOLD ACCENTS AND FLUTED LEGS REMINISCENT OF SANDY SHORES, SURROUNDED BY TRENDY APPLIANCES

AMENITIES GALORE

In designing Armorel, Queensland-based developer Capital Luxury Residences gave Victorian architecture firm Mason Bright one edict: create a Miami luxury-inspired home with the opulence of a five-star hotel.

“The inspiration was to create a five-star resort so we achieved that by building numerous amenities,” says Philip Pezzi, chairman of Capital Luxury Residences. “All these aspects provide a resort-feel lifestyle.”

The project comes with facilities that capitalise on the site’s adjacency to a lake and canal in Mermaid Waters, one of Gold Coast’s most affluent suburbs. The home has its beach as well as a manicured grassy area for playing, in addition to a 12-metre pontoon and dry dock for jet skis. A bit further inland, the property comes with a magnesium swimming pool, spa, basketball court, gym, bar, and whisky room.

Alfresco areas further exploit the spectacular water views. In addition to an outdoor kitchen and dining area, the property prides itself on a sunken fire pit and an all-season space with built-in seats to appreciate the sunset views.

Gates, doors, curtains, air-conditioners, television sets, music devices, security cameras and alarms, and lights at the property can be remotely controlled. With these technological accoutrements, the homeowner can grant access to cleaners, service contractors, and staff from anywhere.

The positive reception to the property, launched and completed in late 2023, has been “enormous,” according to Pezzi. “They view this as a truly inspired Miami luxuryinspired home and the level of craftsmanship that hasn’t been seen before.”

RESILIENT PLANTS, CHOSEN FOR THEIR ABILITY TO THRIVE IN QUEENSLAND’S HOT SUMMERS, GRACE THE PLANTER BOXES AROUND THE FAÇADE

aspects of the design were bespoke, which was the key agenda for the residents,” says Pezzi.

The cabinetry and joinery originated in Europe while the marble was imported from Turkey and Italy. The development team had fallen “in love” with a marble variety discovered during a trip overseas.

Book-matched marble adorns the tiles of the main ensuite, which also contains a hand-carved marble tub where bathers can further appreciate the views. The residence also uses travertine and engineered timber, some used as cladding.

“The resident gave the Capital Luxury Residences design team complete control over the project and trusted their judgement and, more particularly, their ability to source materials globally for this project,” says Pezzi.

On the sustainability front, the property features heatresistant windows and thermal cladding, plus solar panels that contribute to its off-grid energy supply.

Landscape designer Bespoke Scape selected plants

that were capable of withstanding the relatively harsh Queensland summers. For the planter boxes encircling the entire façade, this emphasis was particularly crucial. The boxes had to support significant soil weight in a cantilevered design, elevated over 4 metres above the ground.

Since residents would have limited access to the hanging plants, a self-watering system was in order. Landscape irrigation was designed to be centrally controlled, allowing residents to manage water levels across all seven zones of greenery.

The entire development, from obtaining permits to handover, was completed in just over 18 months. “The construction was managed by one of our senior construction managers who oversaw the entire project to ensure it ran smoothly,” says Pezzi. “The key challenge was getting out of the ground, given the property is on the water, so ground stability and water ingress have to be overcome.”

In consultation with Structural Innovations Australia (SIA) engineers, Giamarelos’ team strategically positioned screw piles throughout the site. These enabled the footings

ALFRESCO AREAS, LIKE THIS DINING SPACE, ARE UBIQUITOUS THROUGHOUT THE PROPERTY

to be securely anchored in stable ground. To address rising floodwater ingress, elevated tiered platforms were constructed, leading from the waterfront to the home.

“Land slope, flood levels, and city and waterfront views were but only some of the special conditions and peculiarities that informed the final design outcome,” says Giamarelos.

Additionally, the team installed a jetty capable of accommodating a 60-foot boat. Upon entering the home, guests are drawn to one of the property’s most spectacular features, the staircase.

“Sweeping curves and double-height voids provide flow and spatial play to the home, but by far the feature and centrepiece of the home is the spiral staircase,” says Giamarelos.

The sculptural piece, visible through floor-to-ceiling glazing on both ends of the property, features black microcement treads. Positioned beneath a four-metre-wide skylight, the staircase is bathed in sunshine as it leads to the upper-level bedrooms.

In addition to the exquisite build, Capital Luxury Residences allocated AUD250,000 to invest in smart home technology for Armorel. “This was the first project in which we took smart technology to a new level to incorporate the entire home, which enabled the residents to control everything from their phone and tablet,” says Pezzi. “Given that residents travel constantly, they wanted to ensure security was paramount and they could allow access to people without being home.”

With its completion, Armorel deepens Australia’s rich tradition of living on the water’s edge. It also embodies the elegant extravagance associated with urban centres having vibrant beach cultures such as Miami and Gold Coast, which are, in many ways, twin cities.

As for Birch and Pezzi, their passion seeps out of the project. To them, Armorel is more than just a ticking of boxes—it’s a “labour of love.”

ARMOREL IS PURPOSEFULLY DESIGNED AS A WATERSIDE RESIDENCE, WITH THE JETTY SERVING AS BOTH A PROMINENT VISUAL FEATURE AND A FUNCTIONAL NECESSITY

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MAKING HOMES AFFORDABLE AGAIN

PTL Properties leads the charge in making housing dreams a reality for Penangites

Housing affordability is a challenging issue that affects people in any fastmodernising society and growing economy such as Malaysia. Property seekers run up against many barriers to homeownership, with multitudes of Malaysians still unable to afford a downpayment due to unstable incomes.

As the gap between income and the ability to own property widens, it is crucial for real estate industry players to understand current consumer preferences and trends. This will enable them to customise their property offerings and contribute to the development of more affordable housing for Malaysians.

Penang-based developer PTL Properties Sdn. Bhd. believes that when housing costs become too high relative to income, it can lead to financial strain and inequality. In that light, the company has undertaken

the responsibility of developing budget-friendly residential products for the betterment of the Malaysian community. The company aims to make homeownership a reality for all, especially in its home state of Penang.

PTL Properties is dedicated to contributing to the state government’s initiatives to increase the availability of affordable housing, in line with the Penang 2030 Vision. Backed by over 30 years of experience in the real estate industry, the company aims to support the government’s ambitious target of delivering 220,000 units by 2030.

To that end, PTL Properties has introduced a project that offers value for money and supports Penangites in their journey up the property ladder.

That project, Sena Mas @ Tasek Gelugor, rightfully won the Best Value Landed Development title at the 10th

PropertyGuru Asia Awards Malaysia with iProperty in 2023.

Sena Mas @ Tasek Gelugor comprises exquisitely crafted homes that enhances lifestyles, with a visionary space design that brings people together. The development is composed of single-storey homes, terraced housing, and semi-detached homes, set across 16 blocks within a secure, contemporary community, replete with green belts.

First-time homebuyers can confidently invest in these residences, as they are priced affordably while maintaining high standards of quality, comfort, and design. It is known as the first landed, gated, guarded development in Penang under the affordable housing scheme. The freehold three-bedroom, two-bathroom residences all feature a practical, modern, open-concept design.

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Also the winner of the Best Completed Landed Development award, Sena Mas @ Tasek Gelugor comes with a wide variety of facilities: security amenities, a multipurpose hall, backyard, chillout garden, BBQ pit area, adult outdoor exercise station, outdoor gym, children’s playground, exercising lawn, jogging trail, aromatic garden, reflexology path, kindergarten, and nursery. Furthermore, every unit comes with a spacious, fully covered carpark.

Sena Mas @ Tasek Gelugor is in a strategic location, giving convenience and commutability to residents.

Situated inside the Tasek Gelugor township, the project can be

conveniently accessed via Jalan Tasek Gelugor and is just a 10-minute drive from the North-South Expressway Bertam interchange.

PTL Properties Sdn Bhd builds homes that last for the buyer and their loved ones. The company’s in-house construction team, PTL Builder Sdn Bhd, carries out the building of projects, ensuring timely handover and highquality results. To ensure proper supply planning, construction materials are sourced by the company’s subsidiary, PTL Supplies Sdn Bhd.

PTL Properties Sdn Bhd has completed over MYR140 million worth of properties and boutique residential

projects to date, including Taman Residensi Panchor in Nibong Tebal and Woodsland Park in Bukit Mertajam. Apart from Sena Mas @ Tasek Gelugor, the company is working towards the completion of Ari Altitude, the first affordable smart condominiums in Penang, where residents can take control of everyday conveniences with just a click of a button.

PTL Properties envisions that, by the decade’s end, Penangites will have achieved significant homeownership milestones. Through initiatives like Sena Mas @ Tasek Gelugor, the company is actively pushing residents of the state towards this shared aspiration.

DAVID GISSEN SAYS DISABLED PEOPLE CAN OFFER UNIQUE PERSPECTIVES THAT COULD HELP ARCHITECTS AND DESIGNERS SHAPE CITIES

Stories worth sharing

Author David Gissen wants to move conversations about disability in the context of urban development beyond improving accessibility

BY BILL CHARLES

GISSEN CITES THE HUTONGS IN BEIJING AS AN EXAMPLE OF LOW-RISE URBAN DEVELOPMENT THAT CAN OFFER CUES FOR THE FUTURE

I often look at Asia for examples of dense onestory or low urban plans or developments. All kinds of precedents can inform how we want to build today

David Gissen is a professor of architecture and urban history at the Parsons School of Design in New York City, whose latest book, The Architecture of Disability, makes the case that merely improving accessibility should not be the sole focus of disability representation and activism regarding development.

Rather, he says, disabled people can offer unique and valuable perspectives that could help architects and designers “reimagine what a house might be today—or reimagine what city streets, public infrastructure, or parks might be.”

“These are conversations in which disabled people have something exciting to contribute, while also going beyond some of the more paternalistic ways in which we have traditionally related to issues around disabled people,” Gissen adds.

The book has found a particularly receptive audience in the post-pandemic world, which has experienced a sharp rise in the number of people who identify as disabled.

Gissen says the positive response has come not only from architects and architecture students but also from real estate developers, urban planners, city leaders, and others who see broader potential for applying the ideas as global populations rapidly age and people with various disabilities continue to engage more fully in everyday life.

At the Asia Real Estate Summit, you presented virtually on “one-story cities”. Could you explain what this idea is about?

One thing that interests me a lot as somebody who has used a wheelchair in the past and now walks on artificial legs is efforts to bring the city down, so to speak, in terms of its scale and the number of stories that one experiences.

I know that sounds counterintuitive because we imagine that modern cities are ones where buildings get taller and

taller. But going back 100 years, some people imagined that one quality of a modern city might be that it is lower.

There have been different visions for cities over the decades. After World War I, there was a population in Europe with an enormous number of wounded war veterans, and there were incredibly dense urban plans designed around one-story living and the same thing after World War II, also in Europe.

Vienna, Austria in particular had a very active organisation of disabled veterans. They remade the city in many ways that still can be felt today. Now, it’s considered a haven for disabled Europeans. It’s the only European capital city with a 100% accessible transit system. One of the things that was most interesting was they said: How can we remake public space around the needs of disabled people? A lot of people were so badly injured in the war that they had difficulty getting any type of employment.

GISSEN HAS PRESENTED HIS ADVOCACY AT SPEAKING ENGAGEMENTS AROUND THE WORLD

They also wondered: What if we apportion a certain amount of public space for growing food? And that way, we ensure that people can eat. That idea is fascinating to me, and there are a lot of urban landscape architects and environmentalists in New York City and elsewhere today who ask whether our parks could become places to grow food or teach people gardening. I think that’s an amazing idea.

Are there other examples of one-story cities?

There are neighbourhoods in New York City today where most of the building stock—not the vast majority, let’s say about 50% to 60%—is only one story. These are neighbourhoods, about eight or nine square blocks in parts of Queens and Brooklyn, where one can live out one’s daily life on one floor, and that includes commercial spaces, of course, but also workspaces and even residential buildings.

When my students and I look at examples of very dense onestory or low urban plans or developments, we often look at Asian examples. For instance, the hutong neighbourhoods in Beijing have some marvelous one-story multifamily dwellings. And there are similar areas in Vietnam, Thailand, and Cambodia, some really interesting examples. Japan, of course, the historic city of Edo.

So, there are all kinds of precedents for these ideas that can be thought about today in terms of how we want to build. I’d love to work or collaborate more with developers or others in Asia who are interested in these topics and to have some kind of cross-city exchange.

In The Architecture of Disability, you push back against the idea that access is the paramount issue with disability and development. Could you talk a bit more about your philosophy on this?

URBAN GREEN AREAS LIKE CENTRAL PARK IN NEW YORK COULD BE UTILISED AS PLACES TO GROW FOOD, SAYS GISSEN

Accessibility is a very important part of disability politics when it comes to reimagining the built environment around disabled people’s needs. I don’t want to question the importance of that. However, I think it has tended to overdo the way that disabled people might reimagine the space around them and reimagine cities or the interiors of buildings or the infrastructure of cities.

In the chapter of my book on cities, I argue that disabled people might want to make alliances with people they wouldn’t think they have anything in common with. Urban environmentalists, for example, are rethinking sidewalks and streets in ways that would benefit them.

Now, the outcome of that is certainly a more accessible city, but I think it’s more significant than that. It’s a complete rethinking of the dynamic and the relationship between sidewalks and streets and cities and how we navigate them. So that’s what I mean by a different approach rather than an access-based approach. It still promotes accessibility, of course, but it’s not about accommodations or modifications to what exists. It’s a thorough rethinking of urban space.

I imagine there are some overlaps between disability issues and sustainability, which you partly just alluded to.

Cities probably feel more pressure nowadays to deal with problems in climate change rather than disability. But a lot of the spatial ideas about mitigating problems with “modern cities”—the physical infrastructure of cities and climate change—a lot of those ideas could benefit disabled people.

I’m not sure what is first. City planners are thinking about things like stormwater runoff and the abundance of water in the environment and how it impacts urban spaces and flooding and all these things. But all those issues that deal with urban topography can also involve disability perspectives. It would be very hard for a city that’s trying to rebuild sidewalks and streets to build them in a way that would make them even less accessible than they are currently.

VIENNA IS CONSIDERED TO BE A CITY ESPECIALLY GEARED TOWARDS THE NEEDS OF ITS DISABLED CITIZENS

With climate change and Covid-19 and these sorts of massively disruptive issues, do you feel like there’s more openness now to discussions of how we might develop cities and spaces for people with disabilities and others?

Yes, absolutely. One of the things that has been exciting for me is that after publishing this book, The Architecture of Disability, I have had so many institutions, schools, and organisations like PropertyGuru come and talk to me. I think one of the reasons is because after Covid-19 people have had a very intimate experience of disability or impairment in some way. A lot of people felt as if they suddenly had to think about their bodies, breathing, and space in a way that they never had to before—but that’s very familiar for people who have chronic disabilities.

I think it’s brought a sentiment about disability into the public discussion that wasn’t there before. A lot of people became very frightened and realised that their physical environment—the buildings they lived in and worked in—was not necessarily supporting them physically. Or, even worse,

they were unhealthy. I think it’s raised all kinds of questions about buildings and health and cities that are important.

What is on the horizon for you in the coming months?

The Walker Art Centre in Minneapolis has asked me to do a project related to The Architecture of Disability. They’ve asked me to rethink about a half-dozen everyday objects with some colleagues of mine. We’ll look at them through the perspectives of disability—but also think about ways we might question what’s “normal” around certain objects. This includes everything from toilets to park benches and these sorts of things. It’s an issue with interesting opportunities for cross-cultural perspectives. A lot of what we’re looking at involves thinking about posture. So, revamping each of these objects through the perspective of disability and through other perspectives as well.

THE IMPACTS OF CLIMATE CHANGE HAVE BROUGHT ADDED URGENCY TO CONVERSATIONS ABOUT CITY PLANNING

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SKYWARD SPLENDOUR

With Ayanna Resort Residences, Chin Hin Group Property caters to lifestyle possibilities and resort living

Lifestyle-oriented homes, renowned for their spacious layouts and community-centric amenities, have become the preferred housing option for many in Malaysia. This year, the values of semi-detached and high-rise homes are predicted to grow.

In line with this trend, Chin Hin Group Property introduces a revolutionary concept, “Semi-D Living in the Sky”, offering an innovative blend of luxury condominium living with the spaciousness and prestige of semidetached homes.

The company pioneers this unique residential typology with Ayanna Resort Residences, Bukit Jalil. Nestled within the coveted 5km radius of

Bukit Jalil, an affluent suburb of Kuala Lumpur, this project caters to discerning homeowners who seek the heights of modern sophistication.

Ayanna Resort Residences, Bukit Jalil is a visionary project composed of condominium units with freehold titles and sky semi-D living. The development goes beyond the norms of high-rise living: offering an array of flexible layouts for families and individuals to choose from. The layouts range from 1,155 sq ft with 3 bedrooms to 2,453 sq ft with 4+2 bedrooms, plus a family room.

Under the Semi-D Living in the Sky concept, natural light and ventilation flow freely through the buildings.

Some units follow the “Urban Yard” concept, endowing residents with well-lit, airy balconies that can be accessed through louvre doors. These yards are designed to avoid facing airwells or voids, thus inviting sunshine and fresh air indoors.

All units are fitted by the renowned home and living solutions provider Signature. The Signature Kitchen Series embodies style, functionality, and innovation, equipping the residences with elegant, ergonomic cabinets, cleverly hidden appliances, smart lighting, and modern countertops. Together, they elevate the Malaysian living experience to the pinnacle of luxury.

Ayanna Resort Residences also sets itself apart by offering residents superb lifestyle amenities and green spaces. Spread across 2.7 acres of lush, landscaped grounds—130% more than the authorities’ requirements— the development has a sprawling 1.3acre recreational park at its heart.

Designed to foster community engagement and relaxation, this expansive park includes a pet-friendly area, an interactive stream, and recreational facilities for adults and children.

The recreational park offers not only a place for individuals to gather and relax but also a space where pets can bask in the outdoors, play, and even socialise. The interactive stream, meanwhile, is lined with amenities for children of all ages. From biophilic bikes to stepping stones, the interactive stream makes for memorable learning experiences.

For fitness enthusiasts and social butterflies alike, the development

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features a six-level recreation hub equipped with a multigenerational play area, gym, co-working space, badminton and function hall, and games room. Inspired by the iconic Community Padang areas of Malaysian housing estates, this recreational hub encourages residents to connect and unwind amid verdant surroundings.

The green respites also extend to the parking spaces. Topped with a landscape deck, the carpark podium is tucked behind eight levels of residential floors, unlike conventional buildings that are left exposed to the

streetscape. For residents of these residential floors, they can just go from the carpark to their residences without the need to wait for lifts. Every unit in the project is also allotted with two to four carpark bays. Meanwhile, speed ramps ease the parking process, saving on fuel and time.

As a strategically located project, Ayanna Resort Residences prioritises convenience and accessibility. The site offers easy connectivity to major roads such as the Bukit Jalil Highway, KESAS Expressway, and other convenient routes.

Every home seeker, from young married couples to multigenerational households, is invited to check out the spacious and stylish living spaces of Ayanna Resort Residences, Bukit Jalil. This project presents an unrivalled opportunity to experience superior levels of contemporary urban living in the heart of Klang Valley.

Visit Ayanna.com.my or call our Sales Representative at 011 - 17226128 for more information.

Changing spaces

With a presence in more than 90 cities across 26 countries, Surbana Jurong excels in master planning, infrastructure planning, and urban development

BY LIAM ARAN BARNES

In the mid-20th century, it would have required some leap of imagination to predict that two far-flung blips on the map would soon be competing with the seat of empire.

But a little over half a century on from gaining independence from the United Kingdom, Singapore and Abu Dhabi now rub shoulders with London among the world’s alpha cities.

It has taken just decades for the tiny Asian city-state and former fishing village on the Persian Gulf to achieve the level of economic and urban development it took London centuries to carve out.

This journey from blank slates to bustling hubs of creativity and innovation might not have been possible if it weren’t for savvy leadership and strategic locations—and in Abu Dhabi’s case, the discovery of a certain natural resource.

Crucially, however, both cities have shared a commitment to investing in state-of-the-art infrastructure and urban planning. This forward-thinking approach has catapulted Singapore and Abu Dhabi into the ranks of contemporary, well-connected metropolises, drawing businesses, spurring innovation, and significantly enhancing the quality of life for residents.

“Architecture and urban design can transform a city and its culture, and three values in particular are intrinsic to this: urbanism, humanism, and optimism,” explains Ivy Koh, deputy chief operation officer at Surbana Jurong, one of Asia’s leading global urban, infrastructure, and managed services consultancies.

“Both Singapore and Abu Dhabi started as places of tabulae rasae, yet their deliberate embrace of these values has etched them on the world stage, creating environments that are as human-centric as they are unique.”

Koh undoubtedly knows a thing or two about these nouveau metropolises. Since graduating from the National University of Singapore with a master’s in architecture in 2005, her professional journey has straddled both urban settings, offering her a dual perspective.

In Singapore, Koh’s architectural designs aimed not just skyward but also toward sustainability and functionality, aligning with the city-state’s ambitious urban initiatives to harmonise dense living with green spaces and world-class public amenities, ensuring that the developments were not just visually striking but also viable for clients and the community.

Moving to Abu Dhabi presented Koh with new challenges and opportunities. As the in-house design manager for a developer client, her focus encompassed the broader economic and strategic viability of projects. Amidst Abu Dhabi’s rapid oil-fuelled expansion, her task was to navigate

IVY KOH’S ARCHITECTURAL DESIGNS FOR SURBANA JURONG ARE AIMED TOWARDS SUSTAINABILITY AND FUNCTIONALITY

Architecture and urban design can transform a city and its culture, and three values in particular are intrinsic to this: urbanism, humanism, and optimism

the ambitious architectural aspirations against the backdrop of market demands and sustainability objectives.

Reflecting on her time in the UAE’s capital, Koh highlights the experience of collaborating within a multicultural and multifaceted real estate landscape. “Adapting to and learning from diverse perspectives and work habits was instrumental in allowing me to effectively contribute to and navigate the complexities of international urban development projects.”

Indeed, Surbana Jurong’s recent ranking as 14th in the 2024 World Architecture 100 (WA100) list emphasised the firm’s global reach. With a presence in more than 90 cities across 26 countries, the group excels in master planning, infrastructure planning, and urban development, often bridging public and private sectors.

Headquartered in Singapore, the governmentowned consultancy has achieved such scale and success thanks to its vast network of member companies. These include AETOS, Atelier Ten, B+H, CHIL, KTP, Prostruct, Robert Bird Group, SAA, and SMEC, to name a few, with disciplines spanning design, engineering, facilities management, and urban planning.

In recent years it has undertaken a series of transformative master planning projects across the globe. In Rwanda, the Kigali City master plan aims to transform the capital into a vibrant financial hub of East-Central Africa. It focuses on urban rejuvenation, transit-oriented development, affordable housing, and a green network system. The plan received multiple accolades, including the Best Overseas Planning Project Award 2010 and Gold for Excellence in Planning 2021 in the SIP Planning Awards.

In Southeast Asia, the recently proposed Smart City Development in Vientiane, Laos, envisions a satellite town encompassing residential, commercial, and recreational spaces, including a convertible golf course. This project promises

to significantly boost the local economy by attracting new business ventures, and promoting sustainable urban growth.

The Surbana Jurong Campus in Singapore, meanwhile, showcases the group’s corporate architecture chops, as well as its successful strategic partnerships. It also marked Koh’s first large-scale office development. Designed with Safdie Architects, the group’s new global headquarters features treehouse-like pavilions linked by pedestrian pathways, merging workspaces with parkland, and promoting communal interaction alongside sustainability.

Beyond these large-scale undertakings, it is one of Koh’s earliest endeavours that remains closest to her heart. A small yet significant conservation project on Singapore’s Orchard Road, Temasek Shophouse was conceived as a community hub where policymakers and the public can mingle and discuss social initiatives, host events, and champion local culture.

“Despite its modest size, its impact on the community and urban space is huge,” Koh explains. “The project’s non-commercial focus adds a layer of meaningful contribution to the community, showcasing architecture’s ability to create value beyond commercial considerations. Moreover, the emphasis on conservation aligns with the preservation of heritage, which is crucial in maintaining Singapore’s unique identity and a reminder of our past heritage.”

With its eye-catching art deco façade, elegant pendant lights, and geometric, floor-to-ceiling glass panels, the renovation also serves to remind Koh why she entered the profession in the first place. “When I was deciding what to study, architecture presented itself as the perfect amalgamation of my interests in community, design, and urban planning.

“The realisation that our work holds the power to impact cities, culture, and people is truly amazing.”

NUS SDE4

The National University of Singapore’s School of Design and Environment 4 (SDE4) is Singapore’s first new-build net-zero energy building. “A state-of-the-art facility dedicated to promoting sustainable design and environmentalism, the SDE4 building is a perfect blend of form and function, with its unique shape designed to optimise natural light and ventilation to reduce its carbon footprint,” explains Koh. Surbana Jurong is the full-suite consultant for the project, in collaboration with Serie+Multiply Consultants and Transsolar KlimaEngineering.

Temasek Shophouse

Envisioned as a “cradle of social impact”, Temasek Shophouse encourages and elevates social and environmental initiatives for the common good. The shophouse was in a state of disrepair for many years before it was restored in 2019. Surbana Jurong was the lead multidisciplinary consultant and led the space planning and architectural design for the project restoration.

Winner of the 2019 Award for Restoration at the annual URA Architectural Heritage Awards in Singapore, “the project is not only a showcase of award-winning architectural conservation but also offers a testbed for sustainable design initiatives such as an evaporation cooling system in the building the Vortex Fan and Airbitat system to promote hybrid cooling,” notes Koh.

Photography by Darren Soh for Surbana Jurong

SJ Campus

Situated on a greenfield site, “SJ Campus pushes the boundaries of sustainable and liveable design,” according to Koh. Designed by renowned architect Moshe Safdie, the new headquarters of SJ aims to capture the character of Singapore as a garden city, integrating urban structure and natural landscape harmoniously.

SJ’s multidisciplinary team from consultancy services to project management, architecture, engineering and landscaping to workplace strategy, integrated facilities management, and security services has brought SJ Campus to life.

Photography by Darren Soh for Surbana Jurong

Woodlands Health Campus

Designed by SAA Architects, the Woodlands Health Campus envisions person-centric and quality healthcare for the future community by integrating three components – a strong ecosystem for community care, green spaces for patient healing, and SMART technology.

The facility is Singapore’s first hospital with purpose-built parkland for patient healing, social interaction, and staff well-being. “The design amalgamates new care models, technological innovation, and medical planning into a single, seamless facility comprising an integrated acute and community hospital, specialist outpatient clinics, and long-term care facility,” according to Koh.

Northpoint City

A transit-oriented development designed by SAA Architects, Northpoint City is a lifestyle hub of entertainment, shopping, and modern living in the north of Singapore, with services that cater to daily needs.

With an assemblage of community spaces spread along thoroughfares and concourses, its “architectural planning aims to leave indelible impressions on all who interact within its variety of spaces: through creating placemaking nodes that would provide meaningful connections to the user experience, and positively influencing the physical, social, emotional, and ecological well-being of the community,” Koh explains.

TE14 Orchard Station

The TE14 Orchard Station, designed by SAA Architects, serves as an interchange station, a unique and distinct transport hub, in the heart of Singapore’s premier shopping district.

“Integrating seamlessly with the existing MRT station and adjacent ION and Wheelock Place malls to maximise connectivity, the TE14 Orchard Station has five entrances spread along Orchard Boulevard and Paterson Road, in sites occupied by lush flora,” Koh says. She adds that these entrances were designed to reduce their impact on the heritage trees and landscaping at ground level and not to block pedestrian views and wayfinding along the road.

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AN ART APPROACH TO A FULFILLING LIFESTYLE

Finding the ideal first home is a noteworthy accomplishment, effortlessly attained with a highly acclaimed landed residential development in Johor.

As a person growing into their prime earning years, you’re at a stage where life-changing decisions regarding property become increasingly important. Whether you’re a first-time homebuyer or looking to upgrade, or perhaps seeking extra living space, selecting a reliable and credible developer is paramount.

When investing in your first home, it’s crucial to prioritise developers with a proven track record of reliability and credibility. Trustworthy developers not only ensure quality construction but also deliver prompt handovers, adhere to schedules, and enhance their brand recognition through consistently meeting customer expectations.

The ages of 25 to 40 represent some of the prime earning years in life, a time to make life-changing decisions regarding

property. Millennials and Gen Z’ers can find the best home for their needs and desires by carefully assessing their preferences, budget, and location needs. Sometimes all it takes is the right property with extra living space at home.

Your better life begins with D’ Art Hills Residence by PH World, a distinguished property developer renowned for its extensive portfolio of landed residential, commercial, and industrial ventures in Johor since 1993.

Winner of accolades like the Best Landed Architectural Design and Best Clubhouse Design at the PropertyGuru Asia Awards Malaysia in partnership with iProperty, D’ Art Hills Residence is set amid lush natural surroundings with a beautifully designed lake garden, affectionately named D’ Lake Garden.

With built-up areas ranging from 2,776 sq ft to 3,555 sq ft, units at D’ Art Hills Residence are as spacious as can be, even endowed with an additional room for flexible use.

D’ Art Hills Residence offers a living space that serves as an antidote to the hustle and bustle of lifestyles among middle-income earners. The development has a holistic approach to acknowledging the aspirations and dreams of Malaysia’s M40 population, a demographic that includes hardworking individuals and families striving for a better quality of life. By keeping to high standards of quality and offering convenience and security, D’ Art Hills Residence ties perfectly into the aspirations of the M40 population and offers them a pathway to homeownership and a fulfilling lifestyle.

D’ Art Hills Residence’s amenities and features give aspiring homeowners the opportunity to focus on the activities that matter most, whether it’s creating cherished memories with loved ones or relating to the community. As you explore every nook of the home and its surrounds, you acquire a sense of belonging to a tranquil natural retreat.

Conveniently situated in the heart of Kulai, one of the most progressive cities in Johor, the development is easily accessible from a range of public conveniences, including shopping malls, hospitals, schools, supermarkets, and restaurants. They ensure a well-rounded and convenient lifestyle for residents.

Spread across 32.3 acres of land, D’ Art Hills Residence predominantly features three-storey terrace houses complemented by fabulous outdoor amenities within the community. With a gated and guarded setup, complete with a 24-hour security system, the community upholds your peace of mind and safety.

D’ Hub 360°, the award-winning clubhouse, is a pride of the development. The 9,706-sq-ft, doublestorey structure is designed in a unique

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round shape inspired by the social architecture of Tulou. The clubhouse, a tribute to the local Hakka community, houses many leisure and social spaces and offers expansive views of D’ Lake Garden.

In conclusion, D’ Art Hills Residence offers more than just a place to live; it provides a sanctuary where individuals and families can thrive in nature’s embrace. With its commitment to quality, convenience, and security, this development attests to PH World’s drive to creating residential structures that lead to meaningful, youthful lives and a strong sense of community.

As you embark on your journey towards homeownership or seek to elevate your living experience, D’ Art Hills Residence beckons to you as a sanctuary. Featuring an impeccable reputation, exceptional amenities, and prime location, it offers the perfect mix of comfort, convenience, and serenity for property seekers of all income groups.

An investment in the future as well as an incomparable lifestyle await you at D’ Art Hills Residence.

Temple of boom

BY JONATHAN EVANS

Siem Reap is bolstering its tourist-friendly attributes with new infrastructure and residential developments to make it one of Cambodia’s most appealing bets for investment

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Bakong Village

A 20-minute journey from central Siem Reap, this innovative housing project comprises 245 villas and 105 shophouses styled on vernacular Khmer architecture. Named after the multi-level temple in Angkor Archaeological Park, it’s one of two housing projects in Siem Reap by creative real estate gurus Urban Living Solutions (ULS) in collaboration with Aerne Architects and encompasses a school, wet market or retail space, generous green space, 22 courtyards, and skybridges. Cars and motorcycles are forbidden within residential quarters, thus limiting pollution and noise. Bakong underscores ULS’s commitment to eco-conscious initiatives, addressing growing urbanisation in the Kingdom with compact live-work-play communities now prevalent in Southeast Asia’s space-poor cities.

Angkor Sereymongkul

Overseen, interior-decorated, and landscaped by Sok Tonh Real Estate, this 30-hectare project is due for completion in December 2026. Comprising 1,000 doublestorey units, it deploys Khmer architecture to create a community of detached homes—where kitchens and toilet areas are secluded at the rear—and which also allow space for individual gardens, adding to the two public gardens and playground already incorporated in the design. Natural lighting via large windows and ventilation are integrated into the interior, allowing natural airflow. Living rooms are animated with decorative ceilings paying homage to the dork chan ornament found at the rural Banteay Srei temple, which was completed in 967 AD and predates Angkor Wat by almost two centuries.

Wat Damnak

A peaceful sanctuary in an increasingly bustling city, Wat Damnak is chock-full of fascinating nooks and crannies. This religious complex has an eventful history, housing King Sisowath until 1927 (current monarch Norodom Sihamoni occupies the riverside Royal Residence). The glimmering pagoda, opposite a delightful pond, dates back to 1935, and resident monks installed numerous stupas in the 1950s. In darker times, the Khmer Rouge used Wat Damnak as their military base from 1975. Even monks touted guns as the nation began its ill-fated regression to “Year Zero”. In the 80s, a Buddha relic joined the attractions in this frangipani-strewn courtyard whose modern buildings include the Centre for Khmer Studies; the nonprofit Life and Hope Association (where monks care for povertystricken children and young women); and a mural-bedecked library.

Once a fashionable pitstop for the international jet set, Siem Reap fell into slumber for decades, only reawakening following the conclusion of Cambodia’s long civil war in the late 1990s. The city is now possibly the tourist-friendliest destination in the country with boutique boltholes, grand hotels, and guesthouses far outnumbering the nearby temples. The city’s evolution is reflected also in an impressive dining and bar scene and a shopping landscape that encompasses everything from traditional markets to cutting-edge boutiques. Now, with developers moving in, the city is beginning to realise its potential as a residential destination.

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Aaraama Restaurant

An integral part of Angkor Village, a threedecade-old hotel in central Street 26, Aaraama only enhances the Bali-esque scenery inside this stunning space with its Khmer waterside villas next to the Kenary Lounge Bar, a classy chillout space animated by gorgeous sofas, Grand Tour-era artworks, and antiques. Its culinary focus, though, is strictly Khmer: Select menus with tapas-style dishes are curated to represent Cambodia’s changing times and tastes, with chef Touch Savon expertly rustling up long-forgotten recipes using traditional techniques. Angkor Village joined the exclusive list of Small Luxury Hotels of the World in 2008 and lies directly opposite the 1997 Apsara Theatre, an opulent showcase for Cambodia’s distinctive female dancers, and the booking centre for another leading nearby attraction, Kulen Elephant Forest.

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The Weaver’s Tale

Malaysian expat Samantha Low’s outlet on Olive Street—her first store opened in Phnom Penh—blends in beautifully with the hotels, cafés, and eponymous restaurant on this riverside thoroughfare. A gorgeous collection of handicraft trinkets, misty-eyed Angkor memorabilia, and artisanal goods showcasing Cambodian craftsmanship (70% of which come from ethical designers Fair Weave) awaits in this tranquil haven that opened last year. The emphasis is on natural, handcrafted materials for the home (beeswax candles, handwoven textiles the sort of products so prevalent in this city, with its social enterprises such as Manava and Salasulu. With no retail experience before her store in the capital, Low’s gift for design and knowledge of responsible artisan traders shine through at The Weaver’s Tale, a shop that seems built to last.

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Miss Wong

A Siem Reap institution whose chinoiseriedecked interior – a blaze of rich colour full of lanterns, urns, and wraparound paintings still enthralls its guests, Miss Wong has charmed visitors and locals with its ambience, superior local food, and curated drinks since 2008. The city’s bestloved cocktail bar, founded and managed since its inception by New Zealander Dean Williams, occupied a location behind Pub Street before relocating to Street 26 during the pandemic, a far more fashionable address befitting its glamorous image. Though billed as “a taste of vintage Shanghai”, the intimate bar’s bites and beverages betray a more Indochinese flavour. With a sister bar in north-western Battambang also in operation, Miss Wong—named after Russian artist Vladimir Tretchikoff’s painting—should attract a mature, well-travelled clientele for years to come.

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EMBRACING FILIPINO CLIMATE-CONSCIOUS ARCHITECTURE

In its successful reentry to the premium market, Filipino developer PHINMA offers expansive abodes for those looking to upsize, raise a family, or simply nurture their plants and pets

Filipinos have an undeniable affinity for townhouses, house-and-lot units, and landed homes. Even as the quality of apartments and vertical homes in the Philippines rivals or surpasses those in neighbouring countries, local property seekers consistently exhibit an attraction to horizontal residences for primary occupancy.

This preference persists among young generations who are just starting a family, necessitating more space for their beloved progeny. Last year, single detached and attached houses rose in value across many parts of the country, with most loans going towards the purchase of such units, according to official figures.

However, property seekers today are not merely settling for any kind of landed home; they are savvier in their selection.

Award-winning developer PHINMA has diversified over the years to provide quality homes for discerning property seekers across all income brackets. After three decades of creating affordable housing options for Filipino families, PHINMA has returned to the luxury market it knows so well, echoing its past successes with classic projects like Manila Polo Club Townhouses, Mariposa Villas, and Mariposa Square.

PHINMA has drawn upon its extensive knowledge of the Filipino market to cater to property seekers upgrading from condominiums to lower-density homes for the first time. This full-circle moment comes with the arrival of Likha Residences, a premium collection of designer multi-storey townhomes just south of Manila.

Likha Residences’ ready-for-occupancy and pre-selling townhomes are well

suited to starter families and young couples, as well as multigenerational households. Tucked in a gated enclave within the prosperous district of Alabang, away from the frenzied streets of Metro Manila, Likha Residences abounds with outdoor spaces. The community is close to prestigious schools such as Southridge and San Beda Alabang, making the address even more ideal for residents with children.

The garden townhomes at Likha Residences incorporate 50% open space, which includes an 18.3-sqm garden and a two-vehicle carport. Plantitos and plantitas can grow their favourite herbs, flowers, and greens on wide garden decks that also serve as alfresco dining and lounging spaces. Private back gardens and multi-level plant boxes additionally offer more places for plants to flourish.

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The townhomes are not the small, stereotypical offerings found in the average subdivision. Many units at Likha Residences feature extra bedrooms that can easily be converted to home offices, gyms, or walk-in closets. The residences also feature a design by the renowned architects of Mañosa and Company, who reimagined the bahay kubo (house on stilts) for the modern family.

The team took the most eco-conscious attributes of Philippine vernacular architecture and adapted them for Likha Residences. Inspired by ancestral homes, the units at Likha Residences possess large windows with louvred shutters for natural light and cool air to come through, lessening the need for unsustainable air-conditioning; some homes even feature a clerestory, a series of vertical windows. Doubling as an air and light well, the staircase has been ingeniously engineered with expansive Señorita steps, ensuring safe mobility for residents.

Utilising traditional cooling methods passed down through generations, the design truly contributes to the next generation’s efforts in combating climate change.

A sustainable home is an inclusive one, considerate of the furry companions at home. The gardens and spacious rooms at Likha Residences give pets wide, open spaces for play and exercise. If those are not enough, resident animal lovers can walk their pets around the community’s safe, secure lanes. Inside the residences themselves, layouts can be easily reconfigured to give way to pet-friendly flooring, dog and cat beds, and storage spaces for pet food and supplies.

The convergence of humans, animals, and greenery at Likha Residences illustrates PHINMA’s resolve to foster Bayanihan, the spirit of being there for each other without expecting rewards or remuneration.

Housing the next generation of family-oriented, climate-conscious homeowners, PHINMA’s residences not only spread horizontally but also tread carefully on earth, all while exuding stylish, timeless design.

A HEADY MIX

The trend in Asian cities for dynamic integrated communities that fuse real estate with commercial, leisure, and other amenities shows no sign of slowing

BY LIAM ARAN BARNES

INTEGRATED PROJECTS LIKE THAILAND’S ONE BANGKOK ARE SEEN AS ANTIDOTES TO URBAN SPRAWL AND TRAFFIC CONGESTION

Blink and you’ll miss it. Another sliver of horizon vanishes behind the latest high-rise in the Sathorn and Silom areas of Bangkok. Historically home to the city’s central business district, these twin neighbourhoods have been in constant flux for more than a century. Back in the late 1800s, they were little more than a rural patchwork of paddy fields. But nowadays it is not rice stalks reaching for the sky, but buildings.

Two developments represent the latest evolution of the Thai capital’s CBD. Dusit Central Park, under construction on the nine-acre former site of the iconic Dusit Thani Hotel, will upon completion next year encompass three skyscrapers, including a new hotel, luxury condos, and an office tower. The structures will be interconnected by an eight-storey retail podium that

has a rooftop park, combining commercial, residential, and leisure spaces within a single development.

The scale of development, however, pales compared to nearby One Bangkok. Located on the other side of Lumpini Park, this goliath USD3.9-billion undertaking will eventually feature five Grade-A office towers, three luxury hotels and serviced apartment towers, and four retail precincts, totalling 1.83 million square metres of gross floor area. Notably, the RitzCarlton Hotel will grace the first 25 floors of a 50-storey office tower, marking its debut in the city.

These mega mixed-use projects were conceived well before the pandemic fundamentally altered the real estate scene. But the timing could not have been better. In recent years,

By serving diverse populations and a wider range of functions, mixeduse environments create dynamic and inclusive spaces that people want to be part of

investor and homeowner trends have shifted considerably. Increasingly, they are recognising the value of living within a community that is self-sufficient not only in terms of basic amenities but also comprehensive social infrastructure.

“Mixed-use environments play an integral role in the revitalisation of our cities because they are designed to be experience-driven,” says Ben Tranel, principal architect at global design and architecture firm Gensler. “By serving diverse populations and a wider range of functions, they create dynamic and inclusive spaces that people want to be part of.”

From Singapore to Saigon and Metro Manila to Phnom Penh, Asia’s major cities are embracing mixed-use developments at

an unprecedented rate. Not simply buoyed by buyer preferences, these all-encompassing large-scale projects are often antidotes for grappling with the shared problems of spiralling urban sprawl and traffic congestion.

Such developments can also help cities absorb the shocks and stresses that accompany pandemics, disasters, and climate change, according to Indonesian politician Bambang Susantono, who currently serves as the head of the Nusantara Capital City Authority.

“Urban infrastructure and services have struggled to keep up with Asia’s transformation over the past 50 years,” he wrote in a recent Asian Development Bank article. “But in today’s world, and to deliver a better world for future generations, falling behind is no longer an option.”

Yet mixed-use projects are also proving to be popular beyond city centres and suburbia. Traditionally a tourism-reliant island, Phuket was forced to diversify during the pandemic, with the island’s major hotel investors shaking up their business models. The spike in interest in its real estate market subsequently sparked a surge in mixed-use developments. According to Bill Barnett, founder of hospitality consultant C9 Hotelworks, of the island’s current 1,500 registered hotels, about 50% are now incorporating a real estate element.

“Hospitality groups use branded residences; there are hotels but there’s also a real estate element. We’re seeing more and more developers using this mixed-use model, and it makes a lot more sense,” he says. “You’re mitigating your development risk, you’re getting early cash flow, and a better return.”

Call them townships, integrated communities, or mixed-use developments, but the popularity of projects comprising hospitals, schools, retail, and green space, amongst myriad other amenities, is inevitably encouraging developers to become more innovative about how they design and build commercial and residential real estate.

With that in mind, we round up some of the latest award-winning mixed-use developments from around the region.

Summarecon Bekasi by Summarecon Agung

Where?

Summarecon Bekasi is situated at the nexus of Greater Jakarta’s latest expansion, and while seclusion from the urban sprawl may be the obvious drawcard, convenience remains paramount. Proximity to Jakarta’s heart, as well as local amenities such as top-tier educational establishments, healthcare services, and retail destinations, is facilitated via direct access to Jakarta-Cikampek Toll Road and the KH Noer Ali Flyover.

Why buy?

Set to become Bekasi’s CBD over the next decade, this minimetropolis will feature a selection of premium residences— from landed houses to condo villas—alongside myriad amenities. These include upscale shopping malls, business hubs, a fresh market, schools, and places of worship. Lush green spaces, meanwhile, will breathe fresh air into this 2.47-million-square-metre megaproject.

Wow factor

Amidst the comprehensive amenities and premium residences, a commitment to creating lush, breathable landscapes sets this development apart. These green spaces not only enhance the aesthetic and ecological value of the township but also significantly improve the quality of life for residents, offering much-needed respite from one of the region’s most populous cities.

Andaman by Eastern & Oriental Berhad

Where?

E&O’s Andaman is a luxury bolthole built on reclaimed land just across the water from Gurney Drive and Seri Tanjung Pinang—Penang’s most coveted addresses. This 760-acre project merges waterfront cool with city zest, producing one of George Town’s most anticipated upscale residential developments in recent years. For those seeking the best of all worlds within easy reach of the World Heritage city, the master-planned island’s unique concept is hard to beat.

Why buy?

Set against the backdrop of Phase 1’s completed Shoreline, offering waterfront homes and a linear park, and the future promise of mixed-use development in Canalside, Andaman is already making waves. With The Meg and Arica introducing 1,400 residential units, homeowners can choose from various iterations ranging from cosy 567-square-foot spaces to expansive 1,259-square-foot homes. The upcoming Gurney Green phase, meanwhile, will introduce a hub for business, retail, and entertainment, alongside sustainable amenities and green spaces.

Wow factor

It is difficult to look beyond the sheer ambition and location of the project when choosing a standout feature. Still, the 90-plus acres of dedicated green initiatives undoubtedly impress. Phase 1 alone introduces more than 200,000 plants, focusing on local species to foster biodiversity. Andaman’s eco-conscious commitments extend to rainwater harvesting and stormwater collection for landscape maintenance, alongside amenities for electric vehicles, energy-efficient lighting, and comprehensive waste management.

Marum Estate by Sir Stamford Raffles

Where?

The emergence of “greater” Phnom Penh is continuing apace, boosted by a slew of developments including the Cambodian capital’s brand-new airport. Located in South Kandal just 12 kilometres from Techo Takhmao International Airport, Marum Estate is one of the more ambitious communities aiming to cater to those eyeing the perks of suburban expansion with nearby urban convenience.

Why buy?

Inspired by Singapore’s all-inclusive townships, the 22.6-hectare project, due for completion in 2026, will feature 642 residential units, including three- to eight-bedroom houses for small to multigenerational families. Smart home technology and sound security systems come as standard, while onsite amenities run the gamut from leisure facilities like swimming pools and fitness centres to medical facilities, a private school, and a commercial centre.

Wow factor

Set against verdant mountain vistas and abundant green spaces, the estate’s resort-style landscaping and wellnessoriented amenities provide an arguably unmatched lifestyle choice in Cambodia. Thematic gardens foster mindfulness and community, while comprehensive leisure facilities cater to relaxation and fitness, making it one of the Kingdom’s most holistic residential developments to date.

Pueblo de Oro Townscapes Malvar by Pueblo de Oro Development Corporation

Where?

Located in South Luzon, Pueblo de Oro Townscapes Malvar is ideally poised only moments from Malvar Town Proper and the STAR Expressway, providing easy access to Lipa, Tanauan, and Metro Manila. The development, part of a broader 212-hectare project, is set against the stunning backdrops of Mount Makiling and Taal Volcano in a community that combines eco-friendly living with impressive connectivity.

Why buy?

Potential homeowners can choose from a variety of properties within the 212-hectare development, including Pueblo de Oro Residences, Townhomes, and The Enclave. Onsite amenities, meanwhile, cater to outdoor types, with highlights including futsal lawns, fitness trails, yoga decks, and multi-sports courts, to name just a few.

Wow factor

The 1.5-kilometre “Green Loop of Life” is a linear park connecting the themed residential areas. Scenic and cohesive, the outdoor space for recreation and relaxation underscores the development’s commitment to promoting a healthy lifestyle and fostering a sense of community amidst nature.

Mailand Hanoi City by Phu Long Real Estates Corporation

Where?

A 45-minute ride from Hanoi’s hectic heart, this 300-hectare development was conceived to be an antidote to the Vietnamese capital’s occasionally unbearable urban sprawl. Still, connectivity with upcoming infrastructure like Ring Roads 3.5 and 4—slated for completion in 2026—will ensure residents remain within easy reach of the capital.

Why buy?

Influenced by Hanoi’s inclusion in the UNESCO Creative Cities Network in 2019, Mailand Hanoi City integrates more than 1,000 residential and commercial units in a setting where creativity and innovation can flourish. The project emphasises creative spaces, such as an innovation museum and art exhibitions alongside essential amenities, plus extensive green areas, a golf course, educational institutions, and wellness facilities.

Wow factor

Dubbed Hanoi’s “first creative hub”, the project’s Contemporary Art Centre has ambitions of fostering creative collaboration and innovation among artists, residents, and visitors alike. Featuring interactive installations, digital art platforms, and spaces for live performances, it will bridge traditional Vietnamese artforms with contemporary global trends.

Brigade Cornerstone Utopia by Brigade Group

Where?

Situated at the heart of India’s Silicon Valley, Bengaluru’s Whitefield, Brigade Cornerstone Utopia benefits from proximity to major tech parks, lively shopping and entertainment hubs, top healthcare facilities, and some of the Karnataka capital’s best restaurants and bars. The development’s connectivity is bolstered by well-developed roads and public transport options, ensuring culture, entertainment, and wellness are a stone’s throw away.

Why buy?

With more than 4,000 units spanning studio apartments to luxury homes, the 47-acre integrated township is a compelling proposition for homeowners of all stripes. Standout innovations include adaptable living spaces, bike-friendly avenues, comprehensive health and wellness facilities, creatively designed public areas, and a strong commitment to environmental stewardship.

Wow factor

The community-orientated ethos of the township is epitomised by the “urban forest” spanning more than an acre and featuring 12,000-plus diverse trees. This integration of a vast, biodiverse green space within a large-scale city development is a rare find anywhere, never mind amidst Bengaluru’s urban jungle.

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HOMES FROM THE HEART

Discover the essence of heartfelt living with Iconia Garden Residence, where both investors and end users find a home designed to cater to all ages and needs

Residential property investment has created millionaires out of ordinary consumers in Malaysia. Some segments of the real estate industry have shown themselves to be particularly lucrative and resilient, buoyed by factors such as infrastructure advancements, policy interventions, and robust regional economic conditions.

Property investment not only serves as an effective wealth-building strategy; acquiring a home in Malaysia can be an end in itself. The country has many appealing residential properties for end use, providing property seekers a plethora of choices for their preferences and needs.

Since 1991, Malaysian property developer Gunung Impian Development Sdn Bhd has been at the forefront of bringing residential, commercial, and industrial real estate to vibrant life. Treating property buyers

not merely as customers but as valued business partners, the company is dedicated to delivering exceptional properties.

Indeed, Gunung Impian Development Sdn Bhd has had a long history of developing the best, most inventive projects for customers. In southern Malaysia, Gunung Impian Development Sdn Bhd has spearheaded the creation of Taman Impian Emas, a transformative township which features a diverse range of homes, set amid lush greenery and integrated into an economic hub.

Nestled within this township is Iconia Garden Residence @ Taman Impian Emas, a project of nature-inspired terrace houses with freehold titles. True to its name, Iconia Garden Residence aims to be one of the most iconic residential developments in Iskandar. These homes are tailored for moderately sized families seeking to

establish roots in Skudai, the growth corridor of Johor state.

They have thus far proven to be profitable investments for fortunate homeowners. Buyers of the initial batch of units at Precinct A in Iconia Garden Residence witnessed a substantial appreciation in the value of their two-storey terrace homes, rising from MYR550,000 to MYR710,000 today, marking an astonishing 20% increase. In a way, the company has truly facilitated the accumulation of wealth for these homeowners.

Featuring charming two-storey superlink homes, Iconia Garden Residence offers a variety of unit choices, ranging from 24’ x 80’ to 26’ x 80’. With built-up areas starting from 2,321 sq ft, each residence provides ample space for comfortable living.

By emphasising spaciousness and flexibility, Gunung Impian Development

Sdn Bhd has built homes with the family in mind. The homes are suitable for a wide range of families, catering to everyone from young couples with children to multi-generational households with elderly parents.

The newly launched two-storey terrace homes in Iconia Garden Residence are designed as dwellings for people of all ages. What sets Iconia Garden Residence apart is its commitment to inclusivity, evident in features like wheelchair-friendly entrances, ensuring accessibility for residents of all abilities.

Whether you are caring for your elders or just starting your family with little ones, Iconia Garden Residence

provides space for all stages of life. The community is adorned with lush green spaces, fostering a serene environment that allows for kids’ play and promotes well-being and harmony.

The two-storey terrace homes in Iconia Garden Residence are specifically developed to accommodate individuals’ personal growth too. These residences offer flexible layouts that can be changed as needed, welcoming every stage of life.

As Taman Impian Emas grows in size and scope, Gunung Impian Development Sdn Bhd continues to prioritise the creation of properties that foster a sense of belonging and respond to the evolving needs of Malaysian families.

With a focus on quality, innovation, and inclusivity, the company remains passionate about developing property with well-though-out features.

Those seeking an investment opportunity or just searching for the perfect home will see life-affirming design expressed at Iconia Garden Residence. Here, one can embrace a lifestyle where every detail is designed with care, and every corner exudes warmth and comfort.

Welcome home to Iconia Garden Residence, where living is truly from the heart.

For more details, call 07-558 8888 or visit www.impianemas.my

A SLIDING SCALE

Things may look rosy at the highest echelons of Thailand’s real estate market, but high interest rates and rising inflation are hitting developers and end users alike

BY GEORGE STYLLIS

On Rama 4 Road in Bangkok, on the fringes of Lumpini Park—the main green lung in the city— Thailand’s biggest construction project, One Bangkok, is taking shape.

Once completed, it will be a towering collection of apartments, office blocks, luxury hotels, and shops. Bets on Thailand’s property market don’t come bigger. Indeed, it is undoubtedly the most extravagant undertaking yet seen in the Kingdom.

But One Bangkok is something of a bullish outlier. Beyond the smoke and mirrors, Bangkok’s residential sector is enduring a rough ride.

This year, only 40,000 new condominium units are expected to be launched in the city’s midtown and suburban areas, according to the latest data from CBRE.

Excepting pandemic-ravaged 2020 and 2021, when launches in downtown and suburban areas were at their lowest since 2012, this year is shaping to be among the slowest in over a decade.

The downtown sector will experience some marginal improvement this year—with 4,500 new launches compared to 3,153 last year—but remains well down on pre-pandemic levels.

The chief culprits are rising interest rates and a sputtering economy. Things have become so concerning that Thailand’s prime minister Srettha Thavisin declared in February that the economy was at a “critical stage”.

He has been at loggerheads with the central bank to cut the interest rate, which the central bank kept in February at 2.50%, the highest in more than a decade.

Despite his repeated warnings of the toll high household debt and China’s slowdown are taking on the Thai economy, the bank remains resolute: Unless structural problems in the economy are solved, it won’t cut rates.

“2024 started with a cautious outlook for the first half, with the prospect of a more active market in the second half of the year,” says Roongrat Veeraparkkaroon, managing director of CBRE Thailand.

SHOWPIECE PROJECTS LIKE ONE BANGKOK ARE MASKING AN OVERALL GLOOMY ECONOMIC OUTLOOK FOR THAILAND

OUTSIDE BANGKOK, PERENNIAL POPULAR BEACH DESTINATIONS ARE HOLDING UP AND INTRODUCING FRESH LUXURY DEVELOPMENTS

NEW PINK LINE LIFTS BANGKOK RAIL NETWORK

Bangkok saw the launch of its latest inner-city rail line towards the end of last year, connecting more of the suburbs to the capital’s centre.

The Pink Line on the BTS Skytrain system spans 34.5 kilometres and serves 30 stations, from Nonthaburi to Min Buri in the city’s east.

It follows the launch of the Yellow Line in July, which connects the busy area of Lat Phrao with Samrong.

Easing the capital’s maddening traffic was a cornerstone of the previous government, whose leader, Prayuth Chan-ocha, called out traffic police for failing to do anything about it.

While attempting a journey by car through Bangkok around rush hour remains foolhardy, congestion has improved, as has public transport.

The expansion of lines has also brought in outer parts of Bangkok by encouraging development.

Areas like On Nut have become popular with locals and expats for their more affordable housing and ever-expanding communities of bars and restaurants.

With the emergence of new lines, including an Orange Line this year, the expectation is that up to a million people will use trains daily.

“[This] will drive the emergence of new central business districts and key areas, especially at interchange stations, which will create valuable opportunities for property developments shortly,” says CBRE researcher Pakapon Utaobin.

Higher interest rates and concerns over inflation saw end-of-2023 GDP numbers fall well short of expectations. We expect the early part of 2024 to be relatively muted in terms of activity

“Higher interest rates and concerns over inflation saw end-of-2023 GDP numbers fall well short of expectations. As a result, we expect early 2024 to be relatively muted in terms of activity.”

For the housing market, the consequences have been tough.

Home building costs rose throughout 2022, hitting their highest growth in 19 quarters in the last quarter at 6.2%. For this year, house prices are predicted to rise by between 5% and 10%, particularly for new projects.

Leong Choong Peng, an advisor to Mentabuild, a construction consultancy, says developers usually bear the brunt in tough times.

“Higher interest rates generally affect the developers due to the increase in project financing costs, more than the contractors or builders as they are primarily concerned with rising fuel and material manufacturing costs,” he states. “The material to labour cost ratio in Thailand is roughly 70 to 30. Therefore, the increase in material cost has more effect on overall construction cost.”

For younger buyers, it’s meant their ideal home has become suddenly unattainable amid mounting household debt and rising inflation that has made banks cautious to approve loans.

“I want to buy a home, but it feels like I can only afford a townhouse with my budget,” Kamonchanok, an office worker, tells The

Nation newspaper. “The dream of having my ideal home seems challenging given the current state of the housing market in Thailand.”

Analysts predict fewer low-rise launches in 2024 because of stricter lending policies for projects and mortgages.

Instead, developers will shift their attention to the more buoyant luxury market.

Nichakamol Horungruang, senior manager for research and consulting at JLL, anticipates the completion of approximately 2,800 new luxury units across 10 projects, and the unsold rate to remain below 5% throughout the year.

“Luxury condos are often purchased by wealthy individuals and foreigners,” he says. “Additionally, most Thai buyers in the luxury market are end users who are primarily seeking to reside in the units rather than purchasing for investment purposes.

“The upcoming new projects will be positioned at the topend tier of the market, with an average selling price of approximately THB300,000 per square metre (USD8,765) or higher.”

Among the more ambitious projects on the cards are the Nirvana Collection Krungthep Kreetha, a super-luxury block of single houses priced between THB80 million to THB150 million.

In the neighbourhood of Ari, Vi Ari has launched near the BTS Skytrain station. The complex is made up of just six houses with prices starting at THB82 million.

Outside Bangkok, Phuket is also enjoying a bump in new luxury developments. Hip hotel name Standard International is collaborating with Thai developer Sansiri on new branded residences in Phuket and Hua Hin, which is already home to a Standard hotel. Prices for the units range from THB8.99 million to THB100 million with move-

ins for Hua Hin starting in Q2 2026 and Phuket possibly in late 2027.

Yet the economy can’t rely on a robust luxury market alone.

Prime Minister Srettha, who is a former property tycoon (he co-founded Sansiri), says housing is an “important issue that needs immediate fixing” for its potential to have a knock-on effect on other businesses.

Among the measures he has proposed are reducing property transfer and mortgage fees; granting soft loans to low-income earners for their first house purchase;

reducing land and building tax by 50% for a year; and reboosting the full loan-to-value ratio (LTV) to stimulate the buyer market.

Nichakamol of JLL says these combined should give more buyers, from a wider demographic, money to play with and more affordable housing options.

“The announced policies are expected to be effective and have a positive impact on the overall market, including the luxury segment,” he says. “However, we will monitor their implementation and effectiveness in the coming months.”

WITH PRICES BOOMING IN BANGKOK’S CENTRAL CORE, INVESTORS

BANYAN GROUP’S BIG PLANS FOR PHUKET

The luxury hotel brand Banyan Group launched in February the first phase of what will be the largest residential development in Phuket.

The USD2 billion Laguna Lakeland is the group’s most expansive venture since its USD3-billion integrated resort Laguna Phuket.

It will span 276 hectares and feature botanical gardens, parks, and cycling trails, and comes as Phuket repositions itself as one of Thailand’s most desirable beach destinations following the pandemic. The resort was the first to welcome tourists after lockdown as part of a heavily promoted scheme by the government.

“The launch of our new project clearly shows the paradigm shift we’re seeing from Phuket as a great place to visit, to Phuket as a great place to live, with a huge demand not only for second homes but increasingly for primary residence,” says KP Ho, founder and executive chairman of Banyan Group.

The project’s first phase will include homes with one to three bedrooms, condominiums with rooftop infinity pools, and four-bedroom villas with private pools and gardens. The average size will be 560 sqm. Condos will start from THB6.8 million (USD190,000), and villas at THB60 million (USD1.7 million).

Ho says: “High-quality property is still significantly cheaper in Phuket than in most of the buyer source markets like Russia, China, or Europe, which is also an important factor.”

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BOLD VISION

OCR Group Berhad takes innovative, reinventive strides as demand for affordable and sustainable properties converge in Malaysia

Emerging out of the pandemic into an era of uncertainty and climate change, Malaysia is a changed property market. In today’s world, only the developers who are willing to adapt to such unprecedented circumstances will succeed and thrive.

With keen foresight and astute perception, OCR Group Berhad responds adeptly to these new realities. Hailed as Visionary Developer at the 10th PropertyGuru Asia Awards Malaysia 2023, the full-fledged property player embraces change as a vital part of growth.

“We emphasise on project quality, customer-oriented service, innovation, and sustainability so that our brand remains way ahead,” says OCR Group Managing Director, Mr. Billy Ong. “We believe continuous learning would make us grow and become stronger so that we could reach another level of success.”

For over two decades, OCR Group has carved a distinct reputation in property development and construction. Its multifaceted expertise, combined with an unwavering commitment to organisational excellence and product innovations, has earned the trust of clients and partners. OCR Group has completed 20 projects to date, representing a cumulative GDV of more than MYR2 billion.

Aligning with evolving industry needs and seizing new opportunities has allowed OCR Group to excel after all these years. Today, OCR Group has engaged in efforts to rebrand and expand its real estate development in Klang Valley and the East Coast. Most notably, the company is developing its first mega e-commerce integrated logistics hub located in Shah Alam.

“Towards realising our full potential, we are excited to embark on a new path

of becoming an integrated large-scale property developer,” says Billy.

OCR Group is navigating this new phase of growth while acknowledging new environmental and socioeconomic realities. OCR Group is positive about the real estate industry’s trajectory as Malaysia’s expanding service sector drives economic growth. Growth in technology, finance, and tourismrelated industries are all expected to brighten the sector’s prospects this year.

At the same time, OCR Group is taking measures to safeguard against any emerging challenges. In consideration of these, OCR Group has strengthened and sharpened its strategies in internal operation, investment, human talent, and environmental, social, and corporate governance (ESG). Additionally, the company is placing significant emphasis on

STELLAR DAMANSARA

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marketing initiatives, improving the overall experience of its large, diverse customer base, which spans all income brackets.

OCR Group’s properties meet customer needs and provide sustainable returns in key categories: Essential Living, Urban Living, and Luxury Living.

With Essential Living, the company has directed its efforts towards developing reasonably priced homes. Indeed, OCR Group hopes to take an active part in enabling home ownership for different market segments.

For 2024, OCR Group is unveiling KYRA, an affordable housing development of around 3,000 units in Shah Alam. Another anticipated project, Vertex, will be the tallest mixed-use building in the East Coast, featuring its own water theme park.

“At OCR, we’re determined to provide developments that are unique and innovative, meeting our customers and investors’ expectations,” says Billy.

Responding to this century’s climate reality, ESG metrics are increasingly anchoring OCR Group’s products and services. One of its most exciting new products, Stellar Damansara, won the Best Eco Friendly High-Rise

Development title at the PropertyGuru Asia Awards Malaysia in 2023, thanks to its use of eco-materials, propagation of EV chargers, and other sustainable features.

OCR Group has also conducted many ESG and corporate social responsibility (CSR) activities. Recently, the company engaged in a tree-planting activity at Priya Kuantan, contributing to the local community and paving the way for a greener, more sustainable future.

“At OCR, we are passionate to create visually stunning and yet practical

developments,” says Billy. “Our team focuses on upholding high standards of quality, design, and attention to detail for every project we venture into, and sustainability is not just a trend to us but what we have committed and blended into our new developments such as our latest, Stellar Damansara.”

And with Malaysia’s public sector actively facilitating efforts towards sustainable development, affordable housing, tourism, and foreign investment, tomorrow promises to be an exciting era for OCR Group, indeed.

RETURN TO SPENDER

The Philippines is reasserting its position on the global stage as one of the world’s hottest markets for luxury homes thanks to its increasingly liberalised economy

BY

AL GERARD DE LA CRUZ

Filipinos are in the mood for spending once more, be it on residential real estate or purchases at the shopping mall.

This resurgence comes as the Philippine government opens the economy to more foreign investment, supercharging its retail and industrial segments.

Propped up by a sanguine job market and record remittances from the 12-millionstrong Filipinos overseas, locals are simply “going out more and have more money to enjoy non-essential activities,” claims the country’s finance department.

Residential real estate prices nationwide rose 12.9% year-on-year in the third quarter of 2023, central bank figures show. At the same time, luxury home prices in Manila saw the highest growth of any city in the world.

“We expect the momentum seen in 2023 to continue this 2024,” says Lovelle Taleon, director of consultancy at real estate agency Santos Knight Frank. “It is undoubtedly going to be a transformative year for Philippine real estate.”

The Philippines’ GDP grew 5.6% in 2023, missing government targets but still expanding faster than that of China, Vietnam, and Malaysia. Higher household consumption and investments in public infrastructure funnelled an uplift to the lower middle-income economy.

International tourist arrivals topped 5.45 million last year while expatriates returned to the leasing market, pushing up rents by 3.5% in sought-after areas like Makati, Fort Bonifacio, and Rockwell, according to research from real estate firm Colliers.

Endowed with everything from marquee branding to backup power and roomy cuts, prime homes across Metro Manila surged in price by 21.2% in Q3 2023, faster than Dubai, reports Santos Knight Frank. “This price escalation was and still is a direct result of the restricted supply of high-end residential developments available in the market,” says Taleon.

OFFICE OR ELSE

Demand for flexible workspaces is here to stay in the Philippines, with operators aggressively looking for locations where they can open co-working facilities, especially near residential hubs around Metro Manila.

In January, however, the Department of Justice issued a legal opinion stating that enterprises adopting a work-fromhome (WFH) arrangement will no longer be eligible for tax incentives under the CREATE Act. The IT and Business Process Association of the Philippines argued that this would eventually drive flexibilityseeking talent away from the industry.

“In our view, there should be greater clarity on the work-from-home flexibility to better guide landlords and occupants including outsourcing companies,” says Joey Bondoc, associate director for research at Colliers Philippines. “This should enable developers to strategically set their expansion plans and gauge how the WFH scheme will affect office space absorption in the long run. This is crucial as developers continue to launch new office towers, and new buildings are due to be completed in the next three to five years.”

IT-BPM firms accounted for 42% or the bulk of office space demand in 2023, according to Leechiu Property Consultants.

“We are positive that IT-BPM companies will continue to expand operations in the Philippines, even with the rise of AI as new roles are created,” says Sharon Saclolo, head of research at Leechiu.

“POGOs (Philippine Offshore Gaming Operators),” on the other hand, are not as predictable.”

Chinese POGOs have been a major driver of office space demand from 2017 to 2019. With their departure, office vacancy in Metro Manila stood at 19.3% in 2023, according to Colliers.

In an environment of flattish yields, properties priced from PHP20 million (USD357,000) could serve as viable hedges against inflation, according to Joey Bondoc, associate director for research at Colliers Philippines.

“The market is relatively small, especially if you focus on demand in Metro Manila and Cebu, but this luxury market is awash with cash and remains a steady source of demand both for end use and investment purposes,” he says.

Greater private consumption also spurs retail development. Around 385,900 square metres of new retail space will be delivered in 2024, an all-time high, with F&B dominating take-up, according to Colliers.

“During the pandemic, when retail went down, office had that steady cash flow and now it’s the other way around,” says Richard Raymundo, managing director of Colliers Philippines. “It’s now retail and hotel that’s propping [major developers] up.”

This suggests that the amended Retail Trade Liberalisation law, which lowered the minimum paid-up capital for foreign retailers, has yielded positive outcomes since its passage in 2021.

“We think the retail segment will continue to recover in 2024 as inflation improves and as more mall owners incorporate

The luxury market is relatively small, but it is awash with cash and remains a steady source of demand both for end use and investment purposes

PRESIDENT

more experiential retail space for mall patrons,” says Sharon Saclolo, head of research at the real estate firm Leechiu Property Consultants.

President Ferdinand Marcos Jr.’s Build Better More program continues the Rodrigo Duterte presidency’s infrastructure spending spree, another growth engine for the economy.

The infrastructure projects, which range from transit lines (Mega Manila Subway, MRT-7, Cebu Monorail System) to expressways (CBEX, NBEX) and aviation hubs (New Manila International Airport), have bolstered values in contiguous plots of developable land and catalysed the rise of masterplanned projects outside the capital.

“We expect to see more developments in secondary cities in the Philippines and the outskirts of Metro Manila as developers look for more space to grow and improved infrastructure makes living outside the city extremely attractive,” says Taleon, citing fast-growing cities and investment hubs like Iloilo, Bacolod, Dasmariñas, Lipa, and Santa Rosa.

The push towards suburbia is consistent with the postpandemic appetite for green, open spaces and horizontal build. Prices of duplex units and single-detached and attached homes registered the highest year-on-year growth among housing types in Q3 2023, according to the central bank.

In December, Marcos signed the Public-Private Partnership Act (“PPP Code”) into law, clarifying, among others, legal frameworks around funding for infrastructure development.

“The Public-Private Partnership Act amendments will do wonders for the Philippine property market as these will help expedite the implementation of infrastructure projects in the country,” says Bondoc.

Marcos has actively pursued foreign direct investment (FDI) for the country by implementing strategic reforms such as the amendment of the Public Service Act. This law signed by Duterte in 2022 enables full foreign ownership of businesses in key industries including airports, railways, expressways, and telecommunications.

In his efforts to attract foreign investment, the premier advocates for changes to the Constitution drafted following the ouster of his father, former President Ferdinand Marcos Sr. However, critics suspect that this initiative serves as a guise for extending his term limits.

“The 1987 Constitution was not written for a globalised world,” the younger Marcos declares.

Marcos also seeks to entice FDI by enhancing Duterte’s Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act with provisions expanding the deduction

FERDINAND MARCOS JR.’S BUILD BETTER MORE PROGRAM IS AN INFRASTRUCTURE SPENDING SPREE, ANOTHER GROWTH ENGINE FOR THE ECONOMY

regime. Also on his watch, the Real Property Valuation and Assessment Reform Act stands to provide a centralised database for real estate transactions, leading to more accurate, fairer market values.

Marcos’ globe-trotting trade missions since he took office seem to be bearing fruit. In January, the Purchasing Managers’ Index (PMI) for the Philippines surged to 52.9, surpassing some ASEAN manufacturing hubs, according to financial services provider IHS Markit.

Industrial estates are gearing up to accommodate the resultant foreign investment pledges, which reached a record PHP889.07 billion last year. CALABARZON received a colossal chunk of these commitments, with Japanese firms like Murata, Terumo, TDK, and Almex Technologies slated to occupy technoparks or build facilities across the region.

About 400 hectares of new industrial supply will be delivered from 2024 to 2026, predicts Colliers.

Marcos’ pursuit of foreign investors must strike a delicate balance amid macroeconomic risks at home. The central bank’s benchmark lending rate stands at 6.5%, following an increase of 25 basis points in October.

“Inflation has thankfully started to taper off but will likely still push down budgets intended for housing, especially in the lower segments,” says Roy Golez, director for research at Leechiu.

Condominium pre-sales in Metro Manila vaulted to 12,037 units in Q1 2023, representing around 92% of pre-pandemic levels, reports Leechiu. By the end of the year, quarterly presales had dipped to 9,720 units.

“Going into 2024, uncertainty brought about by issues outside the country remains a major issue,” says Golez, adding that Mainland Chinese buyers have been absent from the condominium market.

As banks tightened credit standards, the number of loans granted for new housing units nationwide declined by 1.8% year-on-year in Q3 2023, the central bank reports. Developers themselves have increasingly screened buyers through stringent document requirements and shortened downpayment periods.

“Developers elected more friendly payment terms to attract buyers, particularly evident during the pandemic period,” says Golez. “Unfortunately, these measures also increased

potential buyer attrition rates. This prompted developers to rethink their sales strategies.

“All these, though, we believe to be temporary in nature, with the positive demand drivers showing that the sector’s demand is continuously growing.”

This year, authorities are raising the value-added tax exemption threshold for the sale of residential units from PHP3.2 million to PHP3.6 million. “This should further stoke demand for residential units, especially economic to affordable housing, for key residential hubs outside Metro Manila,” predicts Bondoc.

Around 11,300 condominium units are set to be completed in 2024 in Metro Manila, a volume not seen since 2018, according to Colliers.

The renaissance of Filipino consumer spending does not mean all is well. Poverty is still pervasive, and the property sector faces escalating construction costs, magnified by war. Far more developed nations are verging on recession, and the risk of contagion—this time of the financial kind—is ever-present.

“What’s positive is that tailwinds persist, including the Philippines being one of the fastest-growing economies in Asia,” says Bondoc.

PRESIDENT MARCOS’ TRADE MISSIONS APPEAR TO BE BEARING FRUIT WITH RESULTANT FDI PLEDGES BOLSTERING INDUSTRIAL REAL ESTATE

FACTORY FRENZY

The influx of foreign capital has been a boon to industrial space in provinces just outside Metro Manila.

Around 100 hectares of new industrial supply are set to be delivered in 2024, according to Colliers. Industrial lease rates in Region IV recorded marginal increases in the six months to H2 2023, with vacancies in the provinces of Cavite, Laguna, and Batangas averaging at just 5.5%.

E-commerce, F&B, and manufacturing firms dominated the take-up of industrial space last year, but sunshine industries like semiconductor and electric vehicle (EV) manufacturing could further galvanise take-up in 2024. The Asian Development Bank recently announced a USD20-million loan for local EV charging equipment manufacturer Wyntron to expand its operations in Cavite Industrial Park.

Japanese manufacturers are also expected to further expand their industrial footprint in the country. Murata last year announced that it would invest USD78.2 million in a Batangas plant while Nidec is pouring USD76 million into a Subic facility, producing gearboxes for industrial robots.

American semiconductor company Texas Instruments also eyed a USD1billion expansion of its facilities in Clark and Baguio.

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35 YEARS OF EXCELLENCE

Malaysian developer BCB Berhad marks its emerald anniversary with a legacy of transformative developments and a future-ready commitment to excellence

1989 was a remarkable year, marked by significant events that shaped the world as we know it today. One of the notable occurrences of that era was the birth of BCB Berhad, a premier developer that would go on to leave a lasting mark on the Malaysian real estate sector.

Against a backdrop of change and optimism at the close of the 1980s, BCB Berhad emerged as a progenitor of innovation and progress in real estate development. Today, it is one of the largest developer in the southern state of Johor, with a strong reputation of building high-quality developments. Having completed over 34 projects to date, BCB Berhad boasts a strong track record of success.

The story began when Tan Sri Dato’ Tan Seng Leong, the company’s Group Managing Director, founded BCB as a private limited company in the town of Kluang. The company, then known as Kemajuan Buditama Sdn. Bhd., develop over 4,000 acres of land in Kluang and beyond.

With an awe-inspiring ability to develop seemingly destitute land into liveable cities, Tan Sri Dato’ Tan Seng Leong earned the nickname of “Doctor of Real Estate”. He also became known as the “Father of Kluang” for his contributions to Kluang, with one street in town even named “Jalan Dato’ Tan Seng Leong” in his honour.

Never one to rest on its laurels, the company successfully sought to be listed on the Main Board of the KLSE in 1996. It became known as BCB Berhad and soon ventured into competitive Klang Valley, where it has made its mark since 2010.

Today, BCB Berhad’s successful property developments span not only its hometown of Kluang but also Klang Valley, Batu Pahat, and Johor Bahru.

Tan Sri Dato’ Seng Leong leads a bright crop of wise leaders, including the company’s executive director Lindy Tan, who received the prestigious 2023 Rising Star award from the Property Guru Asia Awards Malaysia

in partnership with iProperty. Also the deputy chairman of REHDA Johor and a co-founder of DECCO+, Lindy holds extensive influence, lending her voice to important matters and sharing valuable knowledge with fellow developers.

Renowned projects by the company include the high-end, 440-unit condominium project Concerto North Kiara in Kuala Lumpur and the 151acre integrated township Hometree Kota Kemuning in Shah Alam. Another notable project is The Elysia Park Residence, an upscale condominium complex of 981 units.

BCB Berhad shows that it has no intention of slowing down anytime soon. Lumina Commercial Park, a 36.5-acre commercial development in Iskandar Puteri with a total GDV of MYR600 million, is one of its most highly anticipated projects yet, featuring the Laksamana Park, a concept to commemorate the life of Tunku Laksamana Johor and the “Jewel Walk”, a covered backlane featuring multicultural

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elements illuminating Lumina the lively and dynamic community hub.

Nestled within the vibrant community of Hometree Kota Kemuning, continuing the thread of low density modern living, Springwood Residences featuring private clubhouse with mixtures of terrace and semi-detached homes with a total GDV of MYR297 million. The final chapter is about to unfold with the introduction of commercial development of Hometree, Blossom Avenue, encompassing 25 acres of a variety commercial shops with a total GDV of MYR400 million.

In Batu Pahat, BCB Berhad actively develops various townships such as Taman Evergreen Height, Bandar Putra Indah, and Taman Bukit Perdana,

encompassing 1,275 acres of land, with 497 acres yet to be developed. It also includes The Straya, an upcoming mixed development close to the Batu Pahat city centre, featuring commercial properties, landed terraces, semidetached homes, and bungalows.

BCB’s planned construction of 1500 to 2000 units of social and affordable housing across various districts of Johor represents a significant social factor within the ESG framework. By addressing the housing needs of lowincome and marginalized communities, this initiative contributes to social equity and inclusivity. Additionally, by prioritizing the development of social housing, BCB demonstrates its commitment to socially responsible business practices.

BCB is dedicated to sustainable development practices, exemplified by its ambitious endeavor to create Lumina Commercial Park, a greencertified commercial development. This project reflects BCB’s commitment to environmental responsibility and its recognition of the importance of green infrastructure in fostering a healthier and more sustainable future. By pursuing green certification for Lumina Commercial Park, BCB aims to minimize its environmental footprint, enhance energy efficiency, and promote ecofriendly design principles throughout the development process. initiatives like this, BCB demonstrates its leadership in driving positive environmental change within the commercial real estate sector while providing businesses with a sustainable and vibrant workspace.

As BCB Berhad’s 35th anniversary celebrations come to a head, the company’s journey of excellence and community empowerment continues. From its humble beginnings in the 1980s to its status as a premier developer in the 21st century, BCB Berhad exemplifies a pioneering spirit and great leadership.

The company will surely be remembered in the next 35 years for its impact. With a rich history and a bright future ahead, BCB Berhad is poised to continue a legacy of excellence for generation after generation.

The winners of the 9th Annual PropertyGuru Vietnam Property Awards, presented by Kohler, were announced on 10 November 2023 at first-time venue Vinpearl Landmark 81, Autograph Collection in Ho Chi Minh City.

Clinching the golden statuettes for Best Developer and Best Sustainable Developer, CapitaLand Development (Vietnam) garnered a total of seven wins. Keppel Vietnam also garnered seven wins, including the Best Commercial Developer title.

Hailed Best Luxury Developer, SonKim Land Corporation received five golden statuettes, including the coveted Best Condo Development (Vietnam) award for The OpusK Residence. Phu Long Real Estates Corporation was another big winner, counting Best Mixed Use Developer among its five wins. ParkCity Group was named Best Community Developer, also one of five wins for the company.

Other winners in the Developer categories were DOJILAND Real Estate Investment Company Limited, named Best Lifestyle Developer, and Khai Hoan Land Group Joint Stock Company, named Best Breakthrough Developer.

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

THE JUDGES

Thien Duong

Chairperson of the Awards in Vietnam and General Director, Group GSA Vietnam

Chau Ta

Executive Director – Legal Transactions, SC Capital Partners Pte Ltd.

David Jackson

Chief Executive Officer, Colliers Vietnam

David McDonald

Principal and CEO, Avison Young Vietnam

Hang Dang Managing Director, CBRE (Vietnam) Co, Ltd.

Jack Nguyen Advisor, Vinacrowd

Jean-Francois Chevance

Group Director of Hospitality and Design, Archetype Group

Mauro Gasparotti Director, Savills Hotels APAC

Paul D. Volodarsky

Partner, Head of Regional Real Estate Practice, Head of Hospitality Sector, DFDL Legal and Tax

SPONSORS AND PARTNERS

Platinum sponsor

Kohler

Gold sponsor

Dulux Professional

Gold sponsor

Vasta Stone

Official portal partner

Batdongsan.com.vn

Official magazine

Property Report by PropertyGuru

Media partners

Robb Report, Vietnam Heritage, Vietnam Insider, Vietnam News, and Xay Dung

Supporting associations

IFC – Excellence in Design for Greater Efficiencies and Vietnam Green Building Council

Official supervisor

HLB

STAYING ASPIRATIONAL

Defined by the success of its multi-award-winning master plans, ParkCity is a regional brand that is synonymous with innovative placemaking, sustainable and liveable residential concepts as well as urban green spaces in Malaysia and Vietnam.

ParkCity’s aspirations have always been anchored by the three brand pillars of DIVERSE COMMUNITY, SEAMLESS CONNECTIVITY, THOUGHTFUL CONVENIENCE. The making of each ParkCity Township does not happen by chance but occurs as a continuous process of infusing “heart and soul” into our communities.

ParkCity Hanoi embraces the thoughtful and deliberate perspective of our flagship Desa ParkCity township in Kuala Lumpur, which has a proven track record of excellence in fostering a wholesome and sustainable community.

ParkCity Hanoi (2023)

BEST COMMUNITY DEVELOPER

SPECIAL RECOGNITION IN SUSTAINABLE DESIGN AND CONSTRUCTION

SPECIAL RECOGNITION FOR BUILDING COMMUNITIES

Park Kiara (2023)

BEST CONDO LANDSCAPE DESIGN (VIETNAM)

BEST COMPLETED CONDO DEVELOPMENT (VIETNAM)

Park Kiara (2023)

BEST COMPLETED CONDO DEVELOPMENT (ASIA)

CAPITALAND DEVELOPMENT (VIETNAM) IS ANNOUNCED AS THE NIGHT’S BIGGEST WINNER

KEPPEL VIETNAM TAKES THE STAGE AS VIETNAM’S BEST COMMERCIAL DEVELOPER

A MEMORABLE SCENE FOR PARKCITY GROUP, HONOURED AS BEST COMMUNITY DEVELOPER

KHAI HOAN LAND GROUP JOINT STOCK COMPANY COLLECTS THE BEST BREAKTHROUGH DEVELOPER STATUETTE

THE WINNERS AND HIGHLY COMMENDED AWARDEES OF 2023 GATHER IN HCMC

SONKIM LAND CORPORATION RECEIVES VARIOUS TROPHIES, INCLUDING BEST LUXURY DEVELOPER

The winners of the 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty. com.my gathered 24 November 2023 at The Majestic Hotel Kuala Lumpur, the official venue.

With nine golden statuettes, WCT Land Sdn Bhd was one of the most accoladed developers of the night. The company was named Best Developer (Malaysia), Best Developer (Central Malaysia), and Best Mixed Use Developer.

UEM Sunrise Berhad also gained nine wins, including various honours for its project, The Connaught One.

Other winners in the Developer categories were Mah Sing Group Berhad, named Best Lifestyle Developer with a win for M Astra; Perbadanan Kemajuan Negeri Selangor, named Best Affordable Homes Developer; Tanah Sutera Development Sdn Bhd, named Best Developer (Southern Malaysia) with a win for Sutera Square; and Tanjung Ratna Sdn Bhd, named Best Boutique Developer.

Tan Sri Dato’ Seri Vincent Tan, founder and advisor of Berjaya Corporation Berhad, was honoured as Malaysia Real Estate Personality of the Year.

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

THE JUDGES

Datuk Ar. Ezumi Harzani Ismail

Chairperson of the Panel of Judges and President of the Malaysian Institute of Architects: 2020-2022

Chris Tia

Vice-Chairperson of the Panel of Judges and Principal and Managing Partner of Tia & Noordin

Blaine Robert

CEO and Creative Director, Blaine Robert Design

Christophe Vicic

Chief Growth Officer, JLL Property Services (M) Sdn Bhd

Dr. Daniele Gambero

President, Malaysia Proptech Association (MPA)

Sr Engad Ravana

Principal, ER Consult

PMgr Sr Haji Ishak bin Ismail

President, Malaysia Institute of Professional Property and Facility Managers (MIPFM)

Ho Chin Soon

Chairman, Ho Chin Soon Research

Dato’ Sr. Lau Wai Seang

President of the Royal Institution of Surveyors Malaysia (RISM): 2017-2018

PMgr Sr Low Han Hoe

Registered Valuer, Property Manager & Estate Agent

Ar. Mustapha Kamal bin Zulkarnain

Founder and Principal, Arkitek Mustapha Kamal

Assoc. Prof. LAr. Dr Nor Atiah Ismail

President, Institute of Landscape Architects Malaysia (ILAM)

Datin TPr Hjh Noraida Saludin

President, Malaysian Institute of Planners (MIP)

Ir. Ong Ching Loon

Immediate Past President, The Institution of Engineers Malaysia (IEM): 2020-2022

Ar. Dr. Serina Hijjas

President, Malaysia Green Building Council (MGBC) 2023-2025

Sr Subramaniam A/L Arumugam

President, Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS)

Tan Hui Yin

Partner, Tan Chap & Associates

Ir. Dr. Zulhkiple A Bakar

Managing Director, Perunding ZAB Sdn Bhd

SPONSORS AND PARTNERS

Official portal partners

PropertyGuru.com.my and iProperty.com.my

Official venue

The Majestic Hotel Kuala Lumpur

Official magazine

Property Report by PropertyGuru

Media partners

Asian Property Review, BERNAMA, Kopi & Property, Niaga Times, Penang Property Talk, Real Estate Malaysia (REM), The Grid Asia, The Malaysia Voice, and Top 10 of Malaysia

Supporting association

REHDA Institute

Official balloting partner

HLB Ler Lum Chew – HLB Malaysia

WCT LAND SDN BHD PROUDLY ACCEPTS THE BEST DEVELOPER WIN

TAN SRI DATO’ SERI VINCENT TAN TAKES THE PODIUM AS REAL ESTATE PERSONALITY OF THE YEAR

PERBADANAN KEMAJUAN NEGERI SELANGOR WINS BEST AFFORDABLE HOMES DEVELOPER

AND THE BEST DEVELOPER (SOUTHERN MALAYSIA) IS TANAH SUTERA DEVELOPMENT

MAH SING GROUP BERHAD ACCEPTS THE BEST LIFESTYLE DEVELOPER AWARD

TANJUNG RATNA SDN BHD DELIVERS SPEECH FOR BEST BOUTIQUE DEVELOPER WIN

UEM SUNRISE BERHAD RECEIVES ONE OF MANY GOLDEN STATUETTES

THE WINNERS HUDDLE TOGETHER FOR THE ANNUAL CLASS PHOTO

SDN BHD

The PropertyGuru Asia Property Awards (Mainland China, Hong Kong, Macau) programme celebrated its milestone 10th edition on 8 December 2023 at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

The return of the programme to a physical format saw New World China winning the coveted title of Best Developer (Mainland China) while Sino Land Company Limited won the Best Developer (Hong Kong and Macau) award. The Best Boutique Developer (Hong Kong and Macau) title was bestowed on CSI Properties Limited.

Leading design practices performed strongly at the Awards, with numerous wins for Lead8 and accolades for Benoy Limited and Design Power House (DPH).

Zhuhai Huafa Sky Hill Mansion won the prestigious award of Best Condo Development (Mainland China) while JARDINI gained the prestigious title of Best Condo Development (Hong Kong and Macau).

Other award-winning projects include Grand Jeté; M8; New Bund 31; and The Arles.

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

asiapropertyawards.com/en/award/ HongKong

asiapropertyawards.com/en/award/Macau

THE JUDGES

MAINLAND CHINA

Ken Ip

Chairperson of the Awards in Mainland China and Chairman of Asia

MarTech Society

Chou Kuang Ming (Ray)

Founder/Creative Director, Vermilion Zhou Design Group

Coco Lin

Principal/Project Director, B+H Consulting International Inc.

Eunice Wu

Property Director, China Merchants Shekou/Overseas Development Division

Fang Lei

Founder, One House Design

Guo Nu

Founder and Design Principal, AUD Architect and Urban Design

James Woo

Executive Director, Co-Head of Valuation, China, Valuation & Advisory Services, Colliers

Jesse Wang

Design Director, F.G Studio

Luo Minjie

Director of Planning and Design Department, Sichuan Waterfront Urban and Rural Development Co., Ltd

Wang Shaoqing

Founder/Chief Designer, CLV.DESIGN

Wei JinJing

Founder & Chief Creative Director, Nature Times Art Design

Zhong Ling

Founder, DUTS design

HONG KONG AND MACAU

Paul Tse

Chairperson of the Awards in Hong Kong and Macau and President of the Board of Directors of the Macao Association of Building Contractors and Developers

Bernie Devine

Senior Regional Director, Asia Pacific, Yardi Systems, Inc.

Gregory Ku

Head of Logistics and Industrial, Jones Lang LaSalle Limited Hong Kong

Jimmy Wardhana

Co-Founder and Principal, JWCC Architecture Co. Ltd

Oliver Tong

General Manager, Jones Lang LaSalle Macau & Zhuhai

Vincent Cheung

Founder and Managing Director, Vincorn Consulting and Appraisal Limited

Sr Yew, Edmond

Vice-President, China Real Estate Chamber of Commerce (HK and International Chapter)

Yu Kam Hung

Past President, The Hong Kong Institute of Surveyors

SPONSORS AND PARTNERS

Official partner

Anjuke

Official marketing partner

Global Design Awards Lab

Official magazine

Property Report by PropertyGuru

Official publicity partners

Artemis Associates and Molihua

Media Group (MMG)

Media partners

Mingtiandi and The Standard

Official courier partner

Ezy Express

Official supervisor

HLB

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BEYOND JUST BUILDING

In just a decade, HCK Capital Group has advanced from merely developing homes and communities to expediating the best ways to work, study, and live in Malaysia

Property developers often evoke images of houses and skyscrapers, all great spaces built for habitation, productivity, and leisure. A select few, however, aspire to transcend those conventional paradigms. Their vision extends beyond designing and constructing new build to helping property seekers reach their full potential as humans.

With this ethos, HCK Capital Group endeavours to do the right thing and do things right—differently. Listening intently to stakeholders and responding mindfully to consumer sentiment have become some of the company’s primary objectives before embarking on projects.

This approach has allowed HCK Capital Group to pursue niche concepts and take roads less traveled. The company,

incepted in 2014, has risen above challenges to become a trusted, reliable developer in a short span of time. Now a publicly listed entity, the Group has ascended to the echelons of billion-ringgit corporations in terms of market capitalisation.

HCK Capital Group is the trailblazer behind the concept of “education cities,” whereby quality educational components anchor residential developments and catalyse commercial and retail growth. The company has completed and delivered over 4,000 residential units across its education cities, namely edumetro, edusphere and edusentral.

These projects did not emerge in isolation. Through extensive research, the company has discovered that prospective property buyers prioritise

quality education above all else and are willing to make necessary concessions. This emphasis is understandable, considering that a child’s educational journey spans up to 15 years, from preschool to university.

In fact, the presence of two prestigious institutions, Peninsula International School Australia (Malaysia Campus) and Peninsula Private School, massively contributed to the success of the edusentral development.

Such triumph fuelled the company to persevere through global uncertainties and secure the Certificate of Completion and Compliance (CCC) for edumetro. From the acquisition of the site to reviving the project after abandonment, edusentral is primed for success.

EDUSPHERE @ CYBERJAYA

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HCK Capital Group is also prepared to continue the success of its education cities with Platinum Premium Suites. The project, set to be launched this year, comprises 305 corporate suites within HCK Tower, a 38-level skyscraper that has become an icon of business at Damansara Perdana in Petaling Jaya.

The company designed Platinum Premium Suites to cater to corporate executives and young professionals’ need for mobility and classy, wellfurnished transient spaces. Even at affordable starting prices, the suites feature bespoke fittings and elegant, modern designs usually seen on traditional luxury hotels. The floor sizes are flexible enough for corporate highflyers to mould their lifestyle and entrepreneurial identity as they see fit. Out the windows, occupants can admire the dense greenery of Central Park Damansara.

The suites not only provide a setting for leading a sophisticated lifestyle but also serve as launchpads for career and entrepreneurship. The project offers plenty of co-sharing amenities as well as networking opportunities, with options to work in the location. The project offers a chance to engage and

mingle with likeminded peers, uniting a collaborative, synergistic community.

Tenants and guests can work out at the gyms, chill out at the outdoor garden, or have breakfast at the bar. The suites also sit on top of a shopper’s haven with over 2 million sq ft of retail outlets.

Geared towards execs on the move, Platinum Premium Suites is connected seamlessly to major urban areas in Klang Valley via the LDP and DASH highways. Furthermore, tenants and visitors with vehicles can take advantage of the 9,000 parking bays available in HCK Tower. They can also

take advantage of free shuttle service from the tower to One Utama and Mutiara Damansara.

Whether introducing new concepts or integrating learning facilities into its developments, HCK Capital Group has proven its dedication to societal betterment. The journey ahead will be filled with even newer ideas, more exciting challenges, and gamechanging novelties.

More than just a property developer, HCK Capital Group is an agent of change and urban revival in the country.

PLATINUM PREMIUM SUITES

EDUMETRO

General continuity

Indonesian President-Elect Prabowo Subianto has a chequered record on human rights but is also the candidate most likely to build on recent low-inflation and infrastructure successes

By Oliver Irvine

In the early 2000s, Prabowo Subianto was living in self-imposed exile in Jordan. The former military general had been fired from the highest ranks of Indonesia’s army, accused of commanding a unit that had abducted and tortured 23 democracy activists following the 1997 Asian financial crisis. The US and Australia had both placed him on a travel blacklist for his record of human rights abuses.

Fast forward to the present and Prabowo is all but confirmed to be the next president of Indonesia. Following the nation’s general election in February, early counting suggests

PRABOWO SUBIANTO IS LIKELY TO BE SWORN IN AS INDONESIAN PRESIDENT THIS YEAR

Prabowo has won over 55% of the vote. While the official tally is a laborious, weeks-long process, his two opponents, Anies Baswedan and Ganjar Pranowo, have already conceded defeat.

While critics are lamenting Prabowo’s early election victory as dismal news for democracy, the market has no such qualms. As it was announced on 14 February that Prabowo, son-in-law to General Suharto, the authoritarian military dictator, would likely become Indonesia’s next president, the stock market cheered.

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WE ANTICIPATE THAT HIS ADMINISTRATION WILL CARRY ON WITH THE PREVIOUS ADMINISTRATION’S INITIATIVES, WHICH WILL MAINTAIN STABILITY AND GROWTH IN THE REAL ESTATE MARKET

The Jakarta Composite Index rose 1.3%, hitting a one-month peak, as analysts predicted continuity for President Joko “Jokowi” Widodo’s policies of massive infrastructure spending.

What this means for Indonesia’s real estate market will only become clear in the months to follow. Prabowo has pledged continuation with the economic policies of Jokowi’s administration. Jokowi defeated Prabowo in the 2014 and 2019 general elections before forming a coalition with his old adversary, who has served as his secretary of defence since 2019.

“Currently, investors may adopt a cautious, wait-and-see approach due to uncertainties surrounding policy direction and the transition of leadership,” says Hendra Hartono, CEO of Leads Property Services Indonesia. “Investor sentiment towards Indonesia is influenced by geopolitical dynamics, regional developments, and global economic conditions, including the prevailing sentiment of a looming recession that may impact capital inflows.”

Uncertainty at this stage stems from exactly what a Prabowo government might look like. Indonesia requires candidates to win at least 20% of the vote in at least half of the country’s 38 provinces to form a government. There will be many months of tough coalition negotiations before any new president gets sworn in during ceremonies slated for October.

Investors are awaiting clarity on who Prabowo might appoint as his finance minister. The current finance minister, Sri Mulyani, is unlikely to return. Prabowo has criticised her in the past for saddling Indonesians with greater average debt. Potential new candidates include Indonesia’s health minister, Budi Saidikin, and

Suhasil Nazara, currently the deputy minister of finance.

During this period, Hartono believes that Indonesia’s real estate market will be more influenced by wider post-pandemic recovery trends—where growth has been steady in the hotel, serviced apartment, and mall sectors— than any announcements Prabowo might make.

“We do not anticipate any substantial impact on these industries because of Prabowo’s presidency. Instead, we anticipate that his administration will carry on with the previous administration’s initiatives, which will maintain stability and growth in the real estate market,” says Hartono.

Since the easing of lockdown, Indonesia has seen strong year-on-year economic growth of around 5%, according to the World Bank. The International Market Analysis Research and Consulting Group (IMARC) predicts Indonesia’s real estate market to sustain a growth rate of 5.5% in its forecast for 2024 to 2032.

During his two presidential terms, Jokowi has overseen a period of steady economic growth and low inflation. He has also green-lit infrastructure spending that has burdened state-owned companies with heavy debts. More uncertainty surrounds Prabowo’s fiscal prudence. His period as defence minister saw a 20% rise in defence spending for the 2024 period.

Such facts did not deter Indonesia’s burgeoning middle class from giving Prabowo their support. Under Jokowi, the gross domestic product per capita has risen for the first time above USD5,000. IMARC predicts that this group will drive Indonesia’s short-term real estate market, regardless of administration.

“The burgeoning middle class with growing disposable income will facilitate the need for high-quality housing and premium commercial spaces, bolstering market growth,” it says.

Syarifah Syaukat, a senior research advisor at Knight Frank, predicts this group will move cautiously until Prabowo has set out his economic policies. “The real estate market can overcome economic challenges in an election year. Yet, for buyers, there are still some signs of caution, such as a rise in interest rates, tax, and slower economic growth,” he says.

The continuation of policies set out by Jokowi’s final administration would spell positive news for the plan to relocate Indonesia’s capital from sinking Jakarta to Nusantara on Borneo. Since Jokowi announced the project in 2019, land prices in and around Nusantara have increased 25-fold, according to the government in Sepaku district, East Kalimantan.

The government expects to complete the first phase of development this year. On 27 February, it announced plans to relocate 6,000 civil servants by July, following an investment of USD4.4 billion into office buildings, apartments, utilities, places of worship, and roads in Nusantara.

Despite rising land prices, analysts say that private developers have shown little appetite for the new capital. “Whilst we continue to promote the Nusantara project, we have not

PRABOWO HAS PLEDGED CONTINUATION WITH THE ECONOMIC POLICIES OF JOKOWI’S ADMINISTRATION

yet so far received any substantial or genuine demand from potential clients or investors,” says Hartono.

Syaukat warns that the project is likely to pose challenges for Jakarta’s real estate markets, where the relocation of civil officials will increase vacancies in government office buildings. “These will need to be repurposed in the upcoming year,” he says.

Another factor unlikely to change Indonesia’s real estate dynamics under Prabowo is the recent introduction of a golden visa scheme to entice foreign investors. Announced in September 2023, the scheme grants an extended resident permit of five to 10 years to individual foreigners who invest a minimum of USD350,000 in Indonesia.

The director general of immigration, Silmy Karim, announced that 270 golden visa applicants had been registered in the first quarter of 2024, to reach 1,000 by the end of 2024.

Like the stock market, real estate can be undeterred by human rights records. Syaukat cautioned not to overstate the importance of this election on land and property prices. “The real estate market is stable and will keep growing, regardless of the chosen president,” he says.

A moment of joy we'd like to share

Ilham Residence proudly clinches The Best Housing/Landed Development (Asia) in the Property Guru Asia Awards 2023 for its innovative homes and neighbourhood design, rooted in the ‘Circle of Life’ concept. Celebrating multigenerational living, these gated & guarded homes boast facilities for all lifestyles and ages such as herb gardens, skate park and sprint tracks.

These sustainable homes are the City of Elmina's first smart, green homes that come equipped with solar panels and smart meters for a reduced carbon footprint. We thank all 513 of our homeowners for believing in Sime Darby Property to build their dream lifestyle.

WINNER Ilham Residence by Sime Darby Property

Best Housing / Landed Development (Asia)

Actual photo taken at Ilham Residence, Shah Alam, Malaysia

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REDEFINING BOUTIQUE DEVELOPMENT

Tailoring projects to customer’s needs, premier Melaka developer has everyone covered, from budget-conscious home seekers to high-end retail tenants

For numerous Malaysians in search of property, great quality and excellent craftsmanship of developments are indispensable. In addition to price considerations, astute consumers invest time in thoroughly researching the developer.

With its strong track record of customer satisfaction, sustainable practices, and expertise, Tanjung Ratna Sdn Bhd (TRSB) has reinforced its reputation as an accomplished property developer. Also known as the in-house construction arm of A’Famosa Group of Companies, Tanjung Ratna has been known for projects with innovative, aesthetically pleasing designs, reassuring customers of the highest levels of quality control.

Tanjung Ratna is a well-rounded developer with specialisations in building construction and maintenance. The company, founded in 2001, is a

CIDB Grade G7 licensed contractor. The company takes a personalised approach to customers’ needs and tailors solutions accordingly.

Tanjung Ratna last year won the Best Boutique Developer award at the 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty. The recognition underscores the company’s dedication to creating exclusive properties and transparent, community-focused development while highlighting a strong portfolio of successful projects.

The award-winning company caters to discerning homebuyers and those seeking an exceptional lifestyle, with affordability in mind, at the heart of the city. This single-mindedness manifests in The Admiral Residences@ KotaLaksamana, a condominium development for those who demand the highest standards of quality,

personalised design, and exclusivity.

Situated on a 12-acre land in Kota Laksamana, Melaka, the four-block condominium development offers full residential title ownership at competitive prices from MYR300 per sq ft. The highly popular project ended up selling all units even before receiving the CCC.

The Admiral Residences@ KotaLaksamana has set other records, consistent with Tanjung Ratna’s adherence to sustainability. It is the first condominium project in Melaka to have installed solar panels, drastically lowering the maintenance expenses and resulting in annual savings of MYR375,000.

In another pioneering move, Tanjung Ratna was the first developer to offer a complimentary, multi-year Internet service subscription to residents in the area.

The high-rises, each ranging from 26 to 27 storeys in height, features four levels of covered parking. Every unit is entitled to multiple carpark areas and electric vehicle charging facilities. Residents also enjoy over 40 facilities, including the largest vertical gym in Melaka.

Overall, Tanjung Ratna’s residential projects welcome individuals and families looking for a vibrant lifestyle at accessible price points. These homes make it possible to experience city life within their means and within reach of essential amenities such as schools, hospitals, police stations, post offices, and shopping centres.

Tanjung Ratna’s venture into retail development is also noteworthy. Freeport Melaka A’Famosa serves as

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a prime example of the quality and successful track record consistently achieved by Tanjung Ratna’s commercial projects.

Designed in a charming Mediterranean architectural style, the luxury outlet shopping mall offers consumers the opportunity to peruse a variety of highquality international and local goods at discounted prices. Specialty stores, dining options, and entertainment facilities contribute to a pleasant, relaxing shopping experience.

In just its first year, Freeport Melaka A’Famosa welcomed 2.5 million visitors. Numbers continue to rise

each year, solidifying it as a preferred shopping destination in Melaka. The mall’s reputable tenants, curated carefully by Tanjung Ratna, have attained sales success, averaging at approximately MYR300,000 every month. This has led to the retail destination consistently maintaining an impressive 100% occupancy rate, with store layouts especially optimised for tenants.

Tanjung Ratna continually innovates on visitor experiences at Freeport Melaka A’Famosa. Together with luxury brand Coach, the company has created the world’s first retail outlet housed within a Boeing 747 aircraft, awarded by

Malaysia Book of Record. The singlestorey mall also features a Europeanlike windmill area as well as a popular convention hall, further adding to foot traffic for tenants.

Located just five minutes from the mall is the PARKROYAL A’Famosa Melaka Resort. This 213-key resort, set amid rolling hills and tropical gardens, offers various room types and suites, as well as diverse dining options and outstanding leisure amenities.

Whether you’re seeking luxury or affordability, Tanjang Ratna lives for your satisfaction, creating properties for your preferences, budget, and needs.

On the move

China’s hukou household registration system has existed since the Mao era. Yet reforms may accelerate internal migration with significant impacts on property and the economy

By Steve Finch

Reading the tea leaves on reforms to China’s pervasive hukou, or household registration system, has become a science in recent years. And it’s an imperfect one at best.

In May 2017, the respected East Asia Forum reported that China was “going nowhere on hukou reform”. Yet by October of 2020, China’s state-run English-language broadcaster CGTN reported the system had in part been “abolished”.

News articles predicting the demise of the hukou system have become routine. And so have been those announcing the opposite.

REFORM OF THE HUKOU HOUSEHOLD REGISTRATION SYSTEM IS LIKELY TO BOOST INTERNAL MIGRATION IN CHINA

Reforms of this complex system have moved at a glacial pace. However, recent indicators point to this process speeding up in economically significant areas of the country.

Reforms impact migration patterns, with knock-on effects for real estate and the economy since the hukou system determines where China’s 1.4 billion people receive health insurance, send their children to school, and buy a house.

This is especially true amid enduring recent challenges, including the liquidation of property giant Evergrande Group in January

REFORMING THE HUKOU SYSTEM IS UNDOUBTEDLY CRUCIAL FOR CITIES TO ATTRACT TALENT, BOOST PERMANENT POPULATIONS, AND STIMULATE HOUSING DEMAND

following 5.2% GDP growth last year, China’s worst economic performance outside of pandemic lockdowns in over three decades.

In August last year, the powerful Ministry of Public Security, which oversees the bulk of China’s police force, announced orders to local governments to cancel hukou restrictions in cities with fewer than three million people, and to relax controls in those with between three to five million people.

That means China’s 23 largest cities, including Shanghai, Shenzhen, and Wuhan, would not be impacted. That’s no small thing, given these cities account for about 220 million people. But that still leaves about 85% of the country’s population in smaller cities and rural areas.

Around the time of the announcement, two of China’s three richest provinces issued plans to scrap hukou restrictions entirely outside of their largest cities. Zhejiang’s regional government said it would do so in all areas apart from Hangzhou, meaning the large port city of Ningbo and its population of nearly four million people would allow migrants free rein in terms of registration.

In Jiangsu, only the major cities of Nanjing and Suzhou would be exempt, according to similar plans. Both cities have become among the largest migrant worker hubs in the country for tech, pharmaceuticals, electric vehicles, and other industries, ranking among the richest per capita in China, according to official data.

“China’s 300 million migrant workers tend to spend less than their urban counterparts due to the need to save for retirement, healthcare, and school expenses for children,” says

David Zhang, a macroeconomic policy and property sector analyst at Trivium China, a policy intelligence advisory based in Beijing.

“Granting them urban hukous could unlock trillions of yuan in savings, delivering a substantial boost to domestic consumption just as authorities are increasingly looking inward for growth impetus.”

Amid recent economic woes, the chorus of support for hukou reform appears to be getting louder. In September, former central bank governor Yi Gang wrote a policy advisory calling for an end to household registration red tape.

In December, two anonymous hukou government policy advisors told Reuters that although hurdles to reforms remain, including internal government disagreement, smaller cities across the country were keen to scrap household registration restrictions in part to clear excess housing inventory.

“More substantive hukou reform will be key to bolstering demand for millions of unoccupied urban apartments,” says Zhang of Trivium China.

The debate over China’s hukou has come amid a housing crisis in China following the onset of the Covid-19 pandemic. In the long term, China is facing a shift away from the significant property appetite witnessed before the recent slump, when wealthy and ordinary Chinese alike viewed the sector as a surefire investment and key to generational wealth.

In February, the International Monetary Fund warned China was facing a structural recalibration in which real estate investment

was expected to fall between 30% and 60% in the medium term, with only a partial rebound thereafter.

“Sales have fallen amid homebuyer concerns that developers lack sufficient financing to complete projects and that prices will decline in the future,” says the IMF, which described China’s housing downturn as among the worst anywhere in the world over the past three decades.

Now into its fourth year, the slump has shown few signs of improving thus far in 2024 as the central and regional governments have implemented a raft of policy-easing measures, including household registration. In January, average house prices in the country’s 70 largest cities fell for the eighth month straight.

China’s property market problems have become “self-fulfilling”, with buyers convinced they must wait and see amid concerns of indebted developers, in turn furthering the deterioration in business at these same companies, according to a research note by Macquarie Group in January.

HUKOU

RESTRICTIONS ARE SET TO BE SCRAPPED IN A NUMBER OF CITIES INCLUDING IN THE PORT OF NINGBO IN ZHEJIANG

The same month, another of the country’s largest developers, Country Garden, announced contracted sales halved last year and were down 70% to CNY6.91 billion (USD972.8 million) in December, suggesting its financial problems were accelerating following a debt default in October. Country Garden is among 50 Chinese developers to have defaulted since the housing crisis began in 2021.

China’s residential outlook remains “challenging” and is likely to require several years, including developer consolidation, as companies continue to fail before stabilisation becomes possible, says James MacDonald, head of Savills Research China, in a bleak near-term outlook.

“Reforming the hukousystem is undoubtedly crucial for cities to attract talent, boost permanent populations, and stimulate housing demand. However, the most urgent challenge lies in restoring confidence in the short-term economic outlook and job prospects,” says MacDonald. “Without this confidence, many households may hesitate to make the substantial financial commitment of purchasing property in the near future.”

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PUNCTUAL PRECISION

Mah Sing’s unflinching customer focus, value-added work culture, dedication to sustainability, and eagerness to embrace change firmly establish it as a formidable developer

Timely completion of residential projects holds immense importance for customers in Malaysia, especially with the incorporation of Liquidated Ascertained Damages (LAD) clauses in contracts. Homebuyers rely on developers to fulfill their promises within stipulated timelines because financial security is, among many others, at stake.

Recognising this, homegrown property developer Mah Sing has upheld a steadfast commitment to punctuality in project completion. The Group takes pride in its fast-turnaround business model, which enables swift progress across projects. From land acquisition to development and completion, Mah Sing adheres to a set timeframe, ensuring on-time handovers.

Such dedication is evident in the early completion of flagship projects like M Vertica and M Adora, which

boast impressive QLASSIC scores of 83% and 85%, respectively. Both projects are part of the M Series, Mah Sing’s exemplary range of affordable residential products.

Even before M Series, this competitive advantage has served Mah Sing well. Over the course of 30 years, Mah Sing has consistently innovated and evolved while remaining true to its brand promise of excellence in service, sustainable operations, and delivery of quality, attainable homes. For the Group, all credit for success and growth goes to the contributions of homebuyers, employees, and partners.

Being customer-focused is core to the Group’s business strategy. Mah Sing continuously enhances customer experience by leveraging technologies such as customer relationship management software. It also uses a cloud-based defect management

system, enabling the company to digitise the process of quality inspections, defect submissions, and rectifications.

Introducing the M Series

Mah Sing’s sharp focus on customers has resulted in accoladed projects such as those in its M Series homes. Strategically positioned within mature catchment areas, which are known for their excellent accessibility and connectivity, and surrounded by established amenities, the M Series projects truly embody the Group’s DNA.

For one, the M Series developments are known for ample facilities that cater to all ages. M Vertica alone features the biggest residents’ facility deck in Malaysia, a feat recognised by the Malaysia Book of Records (MBOR) itself.

AN ARTIST IMPRESSION OF M TERRA, MAH SING’S FIRST TRANSIT ENVIRONMENT DISTRICT (TED) DEVELOPMENT IN PUCHONG

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The M Series developments are also distinctive for their environmentfriendly features, such as green spaces, EV charging stations, automated waste collection systems (AWCS), and more.

Sustainability and ESG

Sustainability is ingrained into the company operations. Mah Sing is an early adopter of the Centralised Sustainability Intelligence (CSI) platform developed by Bursa Malaysia Berhad in collaboration with the London Stock Exchange Group. Mah Sing even took a proactive role in encouraging its partners to cultivate ESG practices and climate disclosures through this platform.

Mah Sing also adopted the Task Force on Climate-Related Financial Disclosures (TCFD) reporting framework. Under it, the company has strengthened its approach to analysing, monitoring, and measuring ESG matters and risks.

The design and execution of Mah Sing’s projects themselves can attest to the company’s devotion to sustainability. They typically incorporate elements like green building certification, accessibility for electric vehicles, energy-saving lighting, AWCS, and other green provisions.

Mah Sing’s adherence to environmental responsibility and proactive engagement with sustainability practices cannot be denied, and so is its commitment to empower employees.

A distinct corporate culture

At Mah Sing, the workforce has built a distinct corporate culture that emphasises innovation and a highly adaptive approach to work. To strengthen the culture, Mah Sing invests in regular staff training, engaging activities, team building, leadership forums, and more.

The Group follows the core values of humility, sense of urgency and

ownership, emotional intelligence and stakeholder management, and flexibility and adaptability. These values take inspiration from Mah Sing’s founder and group managing director, Tan Sri Dato’ Sri Leong Hoy Kum, who believes in exercising modesty, avoiding complacency, and preparing to embrace the unexpected.

With a legacy of innovation in housing and a flair for punctuality, Mah Sing sets the bar high for developers across the nation. The company has assumed a more involved role in creating a brighter future for the next generations, due to its customer-centric practices as well as unwavering focus on environmental responsibility and employee wellbeing.

M NOVA, MAH SING’S THIRD RESIDENTIAL DEVELOPMENT IN KEPONG

M VERTICA’S 4.54-ACRE FACILITIES PODIUM IS RECOGNISED BY THE MALAYSIA BOOK OF RECORDS AS THE BIGGEST RESIDENTS’ FACILITY DECK IN MALAYSIA

Moray House Southbank, Australia

Moray House is a 306-unit apartment development between South Melbourne and the CBD of Melbourne, one of the world’s most liveable cities.

Moray House is where “village simplicity meets endless sophistication.” It is just a short stroll from the Clarendon Street precinct, known for its fashionable shopping strip and diverse eateries. To the north of Moray House is the Crown Entertainment Complex with some of Melbourne’s finest restaurants, fashion houses, and leisure facilities.

Serviced by two tram lines, Moray House is only a 5-minute tram ride from the Melbourne CBD.

The development features a two-level, resortgrade wellness zone designed by David Hicks. It includes a pool, spa, sauna, steam room, experiential shower, ice station, massage treatment rooms, gym, and yoga room.

Residents never need to work from their dining tables again. Moray House is built with co-working facilities, complete with meeting rooms, video conferencing, dedicated desks, shared office environments, meeting and collaboration zones, high-speed internet, printing facilities, and other kinds of direct support for businesses of all scales.

Cold store and parcel collection facilities are also present, making delivery seamless. The apartments themselves have storage rooms that can be customised according to residents’ needs.

Moray House comes with concierge, greeting residents when they come home and providing a hotel-grade experience to visitors. The café bar has its own barista, offering a hospitable place for residents to enjoy a drink.

Salvo has built many exceptional properties, including Moray House, since the 1990s. Today, more than 7,500 people call a Salvo property home.

Developer: Salvo

Product type: Apartments

Architect: Rothelowman

Launch date: December 2023

Completion date: 2027

Total land area: 1,200 sqm

Number of units: 306

Average unit size: 90 sqm

Facilities: Pool, spa, sauna, steam room, experiential shower, ice station, massage treatment rooms, gym, yoga room, cold click collect, storage rooms, concierge, café bar, and more

Co-working facilities: Meeting rooms, video conferencing, dedicated desks, shared office environments, meeting and collaboration zones, highspeed internet, printing facilities, and more

Monthly maintenance fees: From AUD100

Price range: From AUD455,000

Contact: Tel: +61 3 9667 0400

Email: enquiry@salvo.com.au

Address: 20 Moray St, Southbank, Australia

Website: mhouse.com.au

Park Kiara @ ParkCity Hanoi

Ha Dong District,

Hanoi

Park Kiara is a two-tower, 31-storey residential development within the master-planned community ParkCity Hanoi. More than just a conventional dwelling, Park Kiara is built around the concept of New Urbanism, which emphasises selfefficiency, holistic living, and strong community ties.

Park Kiara has spacious indoor spaces that seamlessly merge with the outdoors, creating a natural, harmonious living environment. With only eight to nine units per floor, plus four lifts at the core, Park Kiara is a tall yet low-density development, housing 432 units with built-up sizes ranging from 60.49 sqm to 232.96 sqm.

Each apartment is assigned a parking bay, a feature seldom found in Hanoi. Additionally, the open car parking area, arranged across three levels, boasts a unique and unprecedented design.

All apartments, whether they are one-bedroom units or two-storey penthouses, have been designed with full-height windows and generous floor-to-ceiling heights, inviting daylight and ventilation into the homes. Thoughtfully designed unit layouts ensure that every residence is a corner unit with at least two or three kinds of views.

A resort-style facility deck on the 4th Level of Park Kiara has easy-to-access, well-designed common spaces, conveniently linking the two towers and encouraging a close-knit community. Facilities and services are geared towards users of all ages.

Residents of Park Kiara are near a variety of amenities, including the newly opened TOPS market at The LINC shopping mall. The neighbourhood mall features various entertainment options, where residents can gather and enjoy leisure activities not far from home.

Product type: Condominium/high-rise apartment

Architect: P&T Consultants (Vietnam) Co., Ltd

Launch date: November 2019

Completion date: August 2022

Total land area: 7,301 sqm

Number of units: 432

Average unit size: 98.24 sqm

Facilities: Jogging path, lounges, lap pool, kids’ pool, meditation garden, outdoor communal senior fitness area, outdoor yoga area, outdoor reading area, media room, game room, BBQ area, floating gym, library, and sky gardens

Monthly maintenance fees: VND12,000 per sqm

Price range: VND2.2-13.3 billion

Contact: Tel: +84-936 793 338

Email: sales@parkcityhanoi.biz

Watten House Shelford Road, Singapore

Watten House is a freehold condominium development situated in the sought-after Watten Estate location. It is nestled within a coveted residential enclave, with 33 of the 39 Good Class Bungalows (GCBs) in the area located within a 3km radius from the property.

Watten House is set on a 220,240 sq ft site with a modest build of 180 units, promising luxury of space in an increasingly space-starved Singapore. Buyers may opt for the three- to five-bedroom units or penthouses.

With large-format apartments growing increasingly rare in prime districts 9, 10, and 11, Watten House’s generous floor plans are a massive boon to property seekers.

The palatial penthouses, akin to Bungalows in the Sky, consist of the Sky Villa Luxury Collection, with units as big as 3,412 sq ft, and the Sky Villa Prestige Collection, with units as big as 4,080 sq ft.

Watten House is within a 1km radius from top educational institutions Nanyang Primary and Raffles Girls’ Primary School and a stone’s throw away from esteemed schools Hwa Chong Institution, National Junior College, and Singapore Chinese Girls’ Primary (SCGS).

Various retail and dining options close to Watten House include Dempsey Hill, One Holland Village, Coronation Shopping Plaza, King’s Arcade Shopping Centre, Adam Road Food Centre, and the Greenwood dining enclave.

Tan Kah Kee MRT station is an 8-minute walk away from Watten House while the Botanic Gardens MRT interchange is one train station away.

By 2027, Watten House will be completed along with the first phase of the Bukit Timah-Rochor Green Corridor.

ARTIST’S IMPRESSION

ARTIST’S IMPRESSION

Rivière

Jiak Kim Street, Singapore

Rivière comprises two 36-storey towers of luxury residential apartments by the iconic Singapore river. It is part of an integrated precinct by Frasers Property Singapore that also includes the Fraser Residence River Promenade, a serviced residence operated by Frasers Hospitality.

The precinct features a lifestyle hub built on the old Zouk nightclub site. The conserved warehouses there have been meticulously restored and repurposed: one as the reception of Fraser Residence River Promenade, another as a versatile space for the community, and the third as a restaurant featuring Modern Asian cuisine by Jiak Kim House.

Rivière offers one-bedroom to four-bedroom condominium units with exceptional contemporary design. By aligning openings with the prevailing wind direction, the units facilitate cross-ventilation. Air-conditioning units are predominantly placed in inward-looking re-entrant areas, harmonising with the development’s overall aesthetic.

The condominium towers capture unobstructed views towards the Orchard Road shopping belt up north and towards the Marina Bay precinct down south. This northsouth orientation mitigates solar heat gain and minimises direct exposure to sunlight. The rooftop spaces also offer

panoramic skyline views from many amenities such as dining pavilions, a playground, and spas.

The tower blocks consist of several overlapping volumes and planes, resulting in a visually captivating, well-proportioned massing. The façades have deep overhanging balconies, providing sun-shading to the units, while the curtain walls have finely detailed, attractive fins.

The developer has curated a heritage trail within the precinct, complete with informative panels and art installations, honouring the rich history and legacy of the riverfront area.

Developer: FRASERS PROPERTY SINGAPORE

Product type: Condominium

Design architect: SCDA Architects Pte Ltd

Project architect: P&T Consultants Pte Ltd

Launch date: May 2019

Completion date: January 2023

Total land area: 551,450 sq ft

Number of units: 455

Unit size: 560-2,002 sq ft

Average unit size: 1,109 sq ft

Facilities: Club Rivière, Rivière dining, river lawn, aquatic garden, palm’s garden, library lounge, entertainment lounge, kid’s play, gym, steam room, dipping pool, lap pool, sun deck, heritage walk, conservation warehouses, outdoor refreshment area, rooftop spa, and more

Monthly maintenance fees: SGD388-518

Price range: SGD1.43 million (1-Bedroom) to SGD6.7 million (4-bedroom)

Average price: SGD3,048 per sq ft

A VIEW INSIDE THE LOUVRE ABU DHABI, A PARTNERSHIP BETWEEN FRANCE AND THE EMIRATE, WHICH HAS BEEN RANKED AMONG THE WORLD’S SAFEST CITIES AND BEST PLACES FOR EXPATS. CREATIVE FAMILY/SHUTTERSTOCK