Property

SELAYANG: The 660 units in Block C of 168 Park Selayang comprising commercial units and designer suites are now completed and ready for vacant possession, with the first letters going out to their respective owners on Aug 30, 2024. “This is truly a major milestone for this maiden project of ours. We were taking over a project that had been abandoned. Our expertise was in construction, not in property development. We are extremely proud to say that we will meet the deadline of delivering the 660 units for Block C on time, as promised. For the affected buyers, who have waited eight to ten years for this day, the wait is finally over,” said 168 Park Selayang Sdn Bhd’s Director of Business Development Mr Lorenz Tong.    168 Park Selayang Sdn Bhd was established by the founders of Infra Segi Sdn Bhd in 2021 after the latter was the approved white knight by the High Court to revive the Selayang Star City project which had been abandoned in 2016. Under the judicial management order (JMO), Block C of 168 Park Selayang is to comprise the units for all the affected buyers of the abandoned Selayang Star City project.     “It is common practice that when a development project gets revived, buyers will be asked to top up on the original purchase price, especially if some time has passed. We decided that we would not place this heavy burden on the affected unit owners,” said Tong.     He also shared that although the JMO only required that the specifications of all affected units be built as per the old sale and purchase (S&P) agreement, 168 Park Selayang decided to showcase its sincerity and workmanship capabilities as a first-time developer by implementing some upgrades to affected units.    “In the original S&P, certain internal floor areas and the balcony were cement rendered only, which we have now upgraded to tiles. Bathroom tiles were originally up to a height of 1500mm, but we have increased it to ceiling height. Air conditioning points which were previously not available, have now also been added,” he said.    Talking about the upgrades, Tong also shared that facilities have been upgraded from 12 to 26 features and that a lift lobby for Block C is also an added feature. The entire facade, which was supposed to be the dated smooth concrete block design, has now been upgraded to spray tiles for a more modern look.    “Depending on the type of unit they originally bought in the previous development, we also provided an extra car park or a larger unit size, without requiring buyers to pay a single cent,” he said.     “I firmly believe we have undertaken every possible care and consideration for Block C unit owners, who were unfairly burdened with worry and uncertainty when the project was abandoned. We want to assure all the affected buyers that 168 Park Selayang is capable, fully committed, and sincere. We are here to do business the right way,” Tong emphasised.    “On our initiative and cost, we engaged an external team to conduct defect checking on all the Block C units that will be handed over soon. We are holding ourselves to high standards of quality delivery for all our customers.”     Block C unit owners can look forward to a smooth process when they finally get the keys to their units, Tong assured.     “This is the very first handover process for 168 Park Selayang. We are committed to making sure we do well. To ensure seamless support throughout the whole process, unit owners can contact our dedicated VP team through 012-3377969,” Tong added.     The original Selayang Star City development, sitting on seven acres of land, comprised three residential blocks with 2,269 designer suites and another block – operated as a hotel – comprising 305 serviced suites. A five-storey mall with a net lettable area of 550,000 sq ft (square feet) would be situated under the hotel block.     The redesigned 168 Park Selayang has a gross development value of RM945 million and consists of three residential towers, a four-acre facility floor on Level 9, and a two-storey community mall with a total lettable area of 235,500 sq ft.     Lush Residence, or Block A, has a total of 477 units with built-ups ranging from 560 sq ft to 1,050 sq ft and prices starting at RM294,000. Block A has achieved a 90 per cent take-up rate and targets to complete by 3Q2025.    Bole Residence, or Block B, is a 49-storey tower comprising 956 units with built-ups ranging from 674 sq ft to 1,074 sq ft and prices starting at RM397,000. Block B has achieved a 45 percent take-up rate and construction has just begun. Bole Residence is the tallest building in Bandar Selayang, Selangor and is targeted for handover by 2Q2026.    Tong shared that the mall, which includes 850 parking spaces has a net lettable area of 235,000 square feet, which is significantly less than the 550,000 sq ft in the original Selayang Star City development. The opening date of the mall is targeted for 11th November 2024.    168 Park Selayang is easily accessible via Jalan Ipoh, Jalan Kuching, Middle Ring Road 2, DUKE, and Kepong-Selayang highway. 

SINGAPORE: Christie’s International Real Estate, a global leader in luxury real estate, has officially launched in Singapore, marking a significant milestone in its Southeast Asia expansion strategy. Operating from a newly refurbished historic shophouse on China Street in Singapore’s Central Business District (CBD), Christie’s International Real Estate Singapore will specialise in residential brokerage services with a focus on Singapore’s well-established luxury real estate market. It will also assist Singapore-based capital, both individual and institutional, with investing in real estate opportunities around the world through the brand’s extensive global network. The firm is led by Singapore-based Harmeet Singh Bedi & Dipika Bedi, and Himmat & Rohini Singh, longtime owners of Christie’s International Real Estate’s affiliate in India. The team brings a wealth of experience to this new venture. Himmat and Rohini Singh each have over 25 years of experience in luxury real estate, while Harmeet Singh Bedi has more than 30 years of banking and real estate investment management expertise, including a decade in C-suite roles, most recently as CEO of Singapore-based Prime US REIT Management Pte. Ltd. Dipika Bedi complements the team with over 20 years of experience in advertising, marketing, art sales, and event management. The business partners will re-introduce Christie’s International Real Estate under new ownership and management to the Singapore market, where luxury real estate has experienced over a decade of continuous growth. Singapore’s high standard of living, stable political environment, robust economy, and favourable tax policies continue to attract a steady stream of buyers and investors, reinforcing the strong long-term growth fundamentals of the luxury real estate market.  For instance, single-family homes, especially the highly coveted Good Class Bungalows (GCBs) which typically feature land sizes exceeding 15,000 square feet, are valued between S$35 million and S$65 million, which is reflective of Singapore’s reputation as one of the most prestigious real estate markets in the world. Notable developments further solidify Singapore’s position as a prime destination for luxury real estate. The exclusive 32 Gilstead in District 11, which has seen units sell for S$14 million each, and the recent en bloc sale of Kew Lodge on Kheam Hock Road for S$66.8 million, further emphasise the escalating value of prime land in this highly desirable district. Additionally, the redevelopment of 19 Nassim by Keppel Land in the prestigious Nassim neighbourhood underscores the sustained demand for luxury properties in Singapore’s most sought-after areas. Upcoming launches in Marina Bay and River Valley highlight the ongoing vibrancy and allure of Singapore’s high-end real estate market, reinforcing its status as a premier destination for luxury investments. “Singapore is a tight-knit, highly capitalised, and brand-conscious luxury real estate market, with buyers and sellers who expect the highest level of service—exactly what Christie’s International Real Estate provides,” said Harmeet Singh Bedi, Managing Director, Christie’s International Real Estate Singapore. “We are confident that discerning clientele from Singapore and the region will appreciate the brand’s tailored service and international network.” “The current dynamism and potential in Singapore’s luxury residential real estate market, combined with the increasing need for global investment opportunities from both individual and institutional capital based in Singapore, makes this the perfect time to reintroduce the Christie’s International Real Estate brand here,” adds Himmat Singh, joint Managing Director, Christie’s International Real Estate Singapore. “Rohini and I are excited to expand our long-standing partnership with Christie’s International Real Estate. With the brand’s world-class marketing, unmatched international network, and commitment to premier service, we’re bringing the most recognised and trusted name in luxury real estate to one of the most sophisticated real estate markets in the world” Christie’s International Real Estate Singapore will offer national and international exposure for listings through the Christie’s International Real Estate network, which has brokerages in nearly 50 countries and territories. Clients will also gain access to exclusive marketing partnerships and a relationship with the iconic Christie’s auction house for the sale of fine art and luxury goods, including wine and watches. Christie’s International Real Estate maintains a close relationship with Christie’s auction house, enabling clients on both sides to leverage the unique synergies between the worlds of high-end real estate, art, and luxury items. “As we expand our presence in Southeast Asia, we see great potential for the Christie’s International Real Estate brand in Singapore, especially with Harmeet and Himmat at the helm”, said Helena Moyas de Forton, Managing Director, Head of EMEA and APAC at Christie’s International Real Estate. “Their extensive industry experience, unrivalled knowledge of Singapore’s real estate market, and commitment to bespoke, first-class service will make Christie’s International Real Estate Singapore the firm of choice for Singapore’s luxury real estate clientele.” Christie’s International Real Estate has affiliates throughout Asia, including in Dubai, India, Taiwan, Vietnam, and Japan.

E&O Group today announced the launch of The Lume, its latest luxury development on Andaman Island, Penang. This new project, situated in the prestigious Shoreline district, sets a new benchmark for eco-conscious living, offering 261 exclusive residences designed to harmonise sophisticated architecture with the natural beauty of the island. “The Lume embodies the art of sophisticated living, with each exclusive residence crafted to ensure privacy whilst fostering a sense of community. This makes The Lume an ideal choice for those seeking a balanced work-life-play environment,” said Kok Tuck Cheong, Managing Director at E&O.   A unique feature of The Lume’s is its pavilion-in-the-sky design where living and dining spaces that seamlessly extend outward, offering residents breathtaking 180-degree views of the island and filling the interiors with natural light and optimal airflow.   Private spaces are thoughtfully positioned, with bedrooms within the main structure arrayed in a linear configuration, with strategically placed fins to maximise outward views while ensuring privacy.   The Lume caters to a diverse market of empty nesters, young families, and professionals seeking a second home. Each floor features just six apartments, with prices starting at RM 2.2 million and sizes ranging from 1,722 sq ft to 2,874 sq ft. Kok added that The Lume is committed to integrating nature into everyday living, featuring lush tropical gardens and terraced landscaping framed against sweeping sea views.   The Lume offers amenities such as landscaped pools, lounges, and BBQ spaces, fostering opportunities for social interaction. With dedicated areas for children, including playgrounds and a wading pool, the development caters to families while also accommodating pet-friendly spaces for furry companions. The Lume also has dedicated co-working spaces, meeting rooms, and function areas that facilitate the integration of professional and personal life. By aligning with the growing work-from-home trend, residents can now enjoy access to modern conveniences without sacrificing their well-being.             “The landscape architecture of The Lume is meticulously conceived to offer a profound experience of tranquil serenity,” explained Kok.   Andaman Island, awarded GreenRE Platinum certification, is a pioneering development in Malaysia, designed on four pillars—connectivity, sustainability, community, and quality of life. The first phase of this project comprises 253-acres, and is divided into three distinct segments: Shoreline, Gurney Green, and Canalside. Each district will offer a distinct place experience, guided by a masterplan that embraces the urbanism concept of a 15-minute city, supporting pedestrian-friendly neighbourhoods with easy access to essential amenities and green spaces.   The Shoreline district encapsulates eco-conscious and sustainable living with The Lume conferred GreenRE Platinum certification to reflect how the development integrates environmentally responsible practices to minimise its carbon footprint while providing ample communal spaces for socialising and wellness activities.   Benefiting from the island’s strategic location near rising economic zones, residents of Andaman Island will also enjoy direct access to two bridges linked to Penang Island.   “This development establishes a new benchmark for future living spaces on Andaman Island, where innovation, well-being, and harmonious living are intertwined, reflecting our enduring commitment to meet and exceed the evolving aspirations of our residents”, he said.   Kok added that with the launch of The Lume, the E&O Group continues its legacy of crafting elegant homes that anticipate the future needs and lifestyle aspirations of the growing Andaman Island community. The Lume’s launch follows the highly successful launches of E&O’s The Meg and Arica on Andaman Island.