So Emerald Garden not considered good? I know that one is a different fish.

sorry, my list did not include older projects. i only include Sail, MBR, MBS, 1 Shenton, Lumiere, Clift, Icon, Altez, 76 Shenton, and any other new launch in CBD from now until eternity ;)

of that list, icon will be the last to catch up. possibly later in the year. but lease is 5 yrs older and so much construction will make it tougher considering 600+ units. all others basically reached already for the best units....now waiting for less good units to catch up.

2010 is year of CBD. no developer in right mind will ever launch low again...

sorry, my list did not include older projects. i only include Sail, MBR, MBS, 1 Shenton, Lumiere, Clift, Icon, Altez, 76 Shenton, and any other new launch in CBD from now until eternity ;)

of that list, icon will be the last to catch up. possibly later in the year. but lease is 5 yrs older and so much construction will make it tougher considering 600+ units. all others basically reached already for the best units....now waiting for less good units to catch up.

2010 is year of CBD. no developer in right mind will ever launch low again...

Yes looks like 2000psf is a support level going forward. ^^

i think FEO sold all remaining Clift n Icon units that will be sold to China buyers....the ones they kept at Clift they are keeping top floors for service apartment business. not sure about Altez, think they have kept some but unsure how many.

i believe my january prediction is still 100% true. no matter what, cannot buy any good unit in any CBD project for less than $2k by june. almost there already...bad units i don't comment.

Thanks, Overlorden. Any idea how's the commercial life in Icon? The last time I was there (many months ago), lots of units closed but there was talk of turning the whole place into a kinda food haven with speciality restaurants.

Do you guys think that ICon's 'sea-facing' units will be a good buy when the constrcution starts at Altez and worse, the Wing Tai's site?

Do you guys think that ICon's 'sea-facing' units will be a good buy when the constrcution starts at Altez and worse, the Wing Tai's site?

depends on price. lumiere is a better buy if you are talking about Icon at $1.8k+.

Any idea how's the commercial life in Icon?

i think still slow from what i have seen...i also haven't gone by in a while, but maybe that says something...

Do you guys think that ICon's 'sea-facing' units will be a good buy when the constrcution starts at Altez and worse, the Wing Tai's site?

Go for Clift...hehe

No nrby construction once it TOP and unblock cityview for the next 90+ yrs if u r worried about ur views being blocked in future. :cheers:

2bedders still advertised below 1.8kpsf..not sure which flr though...:)

i think still slow from what i have seen...i also haven't gone by in a while, but maybe that says something...

Haha, ^^ me too, haven't been there for a very long time. It's just that with the two new office buildings, I thought that place will be more 'lao jiat' (busy) which would hopefully translate to more restaurants there.

Do you guys think that ICon's 'sea-facing' units will be a good buy when the constrcution starts at Altez and worse, the Wing Tai's site?
lumiere will also have construction right in front of the building in the very near future once marina hse is brought down..
go for 1 shenton,gona T.O.P soon..:cheers:

lumiere will also have construction right in front of the building in the very near future once marina hse is brought down..
go for 1 shenton,gona T.O.P soon..:cheers:

hahahahahahah

one shenton is right next to asia square construction (40+ storeys x 2 towers). these are hotel and office sites which take longer than resi. of course, i seem to remember bro overlorden recommending to buy one shenton about 3-4 months ago when price was $2k instead of $2.2-2.4k today. u miss boat again?

i think most people buying in CBD realize that every single project faces construction at some point. not many ppl as shortsighted as you.

but to recommend that a person not buy a project near construction because they should buy a different project facing construction. well, that is stupid even for you, mingwen.

hahahahahahah

one shenton is right next to asia square construction (40+ storeys x 2 towers). these are hotel and office sites which take longer than resi. of course, i seem to remember bro overlorden recommending to buy one shenton about 3-4 months ago when price was $2k instead of $2.2-2.4k today. u miss boat again?

i think most people buying in CBD realize that every single project faces construction at some point. not many ppl as shortsighted as you.

but to recommend that a person not buy a project near construction because they should buy a different project facing construction. well, that is stupid even for you, mingwen.
:lol::lol::lol::lol::lol::lol:
ha ha,that really shows your stupidity :nuts:must b freelancing too much.
since when did i mentioned not to buy lumiere?
all i said was lumiere would b having construction in front of its building in the near future..
n i did not even say theres no construction near 1 shenton?
u are simply just assuming..
i asked him to buy 1 shenton is becos i liked 1 shenton...
just mind your own damn business jack ass...:)

:lol::lol::lol::lol::lol::lol:
ha ha,that really shows your stupidity :nuts:must b freelancing too much.
since when did i mentioned not to buy lumiere?
all i said was lumiere would b having construction in front of its building in the near future..
n i did not even say theres no construction near 1 shenton?
u are simply just assuming..
i asked him to buy 1 shenton is becos i liked 1 shenton...
just mind your own damn business jack ass...:)

morning advice for you, mingwen: you should spend less time justifying your posts. nobody likes a whiner...

also, to paraphrase sun-tzu, never start a battle you can't win. in your case, this refers to a battle of wits. hope you can avoid reducing the quality of posts on this board today, i think we would all prefer reading more positive and insightful comments instead. thanks.

morning advice for you, mingwen: you should spend less time justifying your posts. nobody likes a whiner...

also, to paraphrase sun-tzu, never start a battle you can't win. in your case, this refers to a battle of wits. hope you can avoid reducing the quality of posts on this board today, i think we would all prefer reading more positive and insightful comments instead. thanks.
just shut your mouth..your views are just crap,baseless n bias n u always thought that u are so smart or some big time investor..i wasnt even answering to your post in the 1st place,stop being so nosy n just mind your own damn business..:bash:
my evening advice to u is stop being such a busy body..

just shut your mouth..your views are just crap,baseless n bias n u always thought that u are so smart or some big time investor..i wasnt even answering to your post in the 1st place,stop being so nosy n just mind your own damn business..:bash:
my evening advice to u is stop being such a busy body..

hey man. just replying to your post not addressed to me. noticed it was posted in a public internet forum. fyi, you may use the PM function if you wish to make your views private. otherwise, you might get even more upset by a wide variety of participants responding with their (generally negative) opinions about pretty much everything you have to say.

ps. considering your long n established track record of 'crap, baseless, n bias' views (see here: http://www.skyscrapercity.com/showpost.php?p=56424961&postcount=308), you maybe wanna think about sounding a little less like hypocrite...or at least adopt new name so u can start fresh.

hey man. just replying to your post not addressed to me. noticed it was posted in a public internet forum. fyi, you may use the PM function if you wish to make your views private. otherwise, you might get even more upset by a wide variety of participants responding with their (generally negative) opinions about pretty much everything you have to say.

ps. considering your long n established track record of 'crap, baseless, n bias' views (see here: http://www.skyscrapercity.com/showpost.php?p=56424961&postcount=308), you maybe wanna think about sounding a little less like hypocrite...or at least adopt new name so u can start fresh.
why should i? :lol: :banana: :lol:
whats there to b upset? its enjoyable..hee hee
knn,didnt know there are so many kay pohs around..

Since you have a lot of time to defend yourself mingwen, why don't you explain your most recent posts...seems a little contradictory (do you know that word? i know it has a lot of syllables....)

POST 1:

i dont bear any grudge with u or any forumners,just having some fun here..


POST 2:

just shut your mouth..your views are just crap,baseless n bias n u always thought that u are so smart or some big time investor..i wasnt even answering to your post in the 1st place,stop being so nosy n just mind your own damn business..:bash:


hmmm, doesn't sound like you are "having fun" anymore hahahaha

POST 3:

whats there to b upset? its enjoyable..

Good question...wonder why you are so upset when others are enjoying the spectacle of u being totally n completely demolished. :lol::lol::lol:

Now, suggest u shd stop being such a d!ck. Better to go hug your children or play with your dog (or yourself) or whatever makes u happy. Anything except reducing the quality of this board. If being mocked n ridiculed is really what makes u happy, u really are a sad sad boy, but u shd do it somewhere else.

What about The Sail?



lumiere will also have construction right in front of the building in the very near future once marina hse is brought down..
go for 1 shenton,gona T.O.P soon..:cheers:

Since you have a lot of time to defend yourself mingwen, why don't you explain your most recent posts...seems a little contradictory (do you know that word? i know it has a lot of syllables....)

POST 1:



POST 2:



hmmm, doesn't sound like you are "having fun" anymore hahahaha

POST 3:



Good question...wonder why you are so upset when others are enjoying the spectacle of u being totally n completely demolished. :lol::lol::lol:

Now, suggest u shd stop being such a d!ck. Better to go hug your children or play with your dog (or yourself) or whatever makes u happy. Anything except reducing the quality of this board. If being mocked n ridiculed is really what makes u happy, u really are a sad sad boy, but u shd do it somewhere else.
good try but obviously it aint working...:banana::banana:
i'l b here for awhile more..

whatever it is,best of luck to your investments..

What about The Sail?
still prefer 1 shenton leh but i cant afford it!
in actual fact,i cant afford the sail also lah...:):)
if u have a bay view unit @ the sail,congrats to u cos its really nice..

to self: ignore, ignore, ignore.....

MW: u r the most 'popular' guy here...congrats!

:lol: :banana: :lol: :banana:

good try but obviously it aint working...:banana::banana:
i'l b here for awhile more..

whatever it is,best of luck to your investments..

sad.

sad.
u are not the only 1...:bash:

MW: u r the most 'popular' guy here...congrats!

u are not the only 1...:bash:

definitely not the only 1 who thinks you are more than slightly disturbed.

if possible, please try to improve the quality of your retorts.
if we are forced to read your meaningless contributions on a daily basis, would appreciate if you could at least increase to the level of others.

hint: the lines you used in primary school are not any more effective now than they were then.

definitely not the only 1 who thinks you are more than slightly disturbed.

if possible, please try to improve the quality of your retorts.
if we are forced to read your meaningless contributions on a daily basis, would appreciate if you could at least increase to the level of others.

hint: the lines you used in primary school are not any more effective now than they were then.
dont read it then! its meaningless n theres no quality,why bother to reply everytime? :lol:i'l let u have the last word old fart!

Trying very hard to justify existence here as if he really worth listening to...

Lets give him a chance.

What about Icon? :bash: No wait.. that probably going to cause discomfort to some here.

Lets talk about something else, lets see....yes why dont you give us your take on that very nice temple infront of Icon. Good project? well build? good facing? got afternoon sun or not?

still prefer 1 shenton leh but i cant afford it!
in actual fact,i cant afford the sail also lah...:):)
if u have a bay view unit @ the sail,congrats to u cos its really nice..

dont read it then! its meaningless n theres no quality,why bother to reply everytime?

because i am screwing with you. and you take the bait every time. it is amusing watching you get so worked up yet at the same time be so witless n unable to defend yourself :lol::lol:

i'l let u have the last word old fart!

i am sure everyone really does wish this to be your last word, but personally i have my doubts. think u are so stubborn and immature that u will not be able to resist another pointless bleat. let's see....

Anybody interested in a studio unit Icon, 570sqft, $1680psf.

or the Beacon, 2 bedder at $1150psf, best value buy!

1. Many units at Centro @ AMK are already transacted at $12xxpsf and it
is for big 2 bedder of 12xxsqft.
2. Horizon at D5 is launching at $1500psf!
3. At the Lavender area, Southbank & Citylights are already transacted
at $1400psf min for a 2 bedder.
4. Dragon Mansion, Spottiswoode Park Road, (near to Cantoment) was
enbloc and the estimated breakeven price of S$1,250- 1,300psf.
Assuming a 15% margin, the selling prices are expected to top $1,450
psf.
5. Bishan HDB was transacted at $900k in Mar. and the last I heard of it
was Queenstown HDB has a valuation of $1mil.
6. Imagine what Pinnacle will command in 4 yrs time when the 1st owners
are able to sell!

5. Bishan HDB was transacted at $900k in Mar. and the last I heard of it
was Queenstown HDB has a valuation of $1mil.
6. Imagine what Pinnacle will command in 4 yrs time when the 1st owners
are able to sell!

man i'd rather get suburban conodo and have 2-300k left get me a maserati complete with coe!

Anybody interested in a studio unit Icon, 570sqft, $1680psf.

or the Beacon, 2 bedder at $1150psf, best value buy!

1. Many units at Centro @ AMK are already transacted at $12xxpsf and it
is for big 2 bedder of 12xxsqft.
2. Horizon at D5 is launching at $1500psf!
3. At the Lavender area, Southbank & Citylights are already transacted
at $1400psf min for a 2 bedder.
4. Dragon Mansion, Spottiswoode Park Road, (near to Cantoment) was
enbloc and the estimated breakeven price of S$1,250- 1,300psf.
Assuming a 15% margin, the selling prices are expected to top $1,450
psf.
5. Bishan HDB was transacted at $900k in Mar. and the last I heard of it
was Queenstown HDB has a valuation of $1mil.
6. Imagine what Pinnacle will command in 4 yrs time when the 1st owners
are able to sell!

Are u so like richard sng?

because i am screwing with you. and you take the bait every time. it is amusing watching you get so worked up yet at the same time be so witless n unable to defend yourself :lol::lol:



i am sure everyone really does wish this to be your last word, but personally i have my doubts. think u are so stubborn and immature that u will not be able to resist another pointless bleat. let's see....
sure,your bait really tasted good...

ps:didnt know u like screwing monkeys..:lol:

sure,your bait really tasted good...

ps:didnt know u like screwing monkeys..:lol:

u all pm each other and scold watever u like? many of us simply not interested...:ohno:

Anybody interested in a studio unit Icon, 570sqft, $1680psf.



This price is actually quite good, transacting price is usually > 1700psf range now. Asking price is 1800psf and above. Why the need to tout for business here?

What floor is the unit?

This price is actually quite good, transacting price is usually > 1700psf range now. Asking price is 1800psf and above. Why the need to tout for business here?

What floor is the unit?

Received an sms (from agent i presume) stating a 30th floor studio transacted over $1,800psf. Is this true? The sms actually advises getting Altez as Icon's moving upwards will push Altez to beyond $2,500psf ... ... according to the sms. :)

Any credibility to the sms? I keep on replying 'unsub' to these sms-es but for some strange reason, I still received them. :ohno:

Unit at Icon sells for $1,828 psf on revived interest

Since October last year, transaction prices of apartments at the 646-unit Icon near the Tanjong Pagar MRT station have increasingly crossed the $1,700 psf level. Most recently, one unit went for $1,828 psf.

Last October, a unit breached the $2,000 psf level for the first time since June 2008 — in that transaction, a 1,001 sq ft unit on the 44th floor changed hands for $2.2 million, or $2,206 psf. The highest psf price achieved at Icon was $2,457 psf, in November 2007, when a 1,119 sq ft unit on the 46th floor was sold for $2.75 million.

Located in the heart of the CBD, Icon was considered the first inner-city private-apartment project to be launched in mid-2003, right after the SARS outbreak. It is once again enjoying renewed interest, thanks to its proximity to new developments — Altez, by Far East Organization, also the developer for Icon, and 76 Shenton Way by Hong Leong Group.

Just two streets away from Icon, 76 Shenton Way sold all 202 units on the first day of its preview on March 25. Prices of the one- and two-bedroom apartments started from $1,600 psf and hit a high of $2,600 psf for the one-bedroom units. The 39-storey condominium is expected to be completed by 2014.

The 62-storey, 280-unit Altez was launched early this year and, to date, more than 160 of the 203 units launched have been sold. The median price achieved last month was $2,185 psf, and the highest price was $2,393 psf, according to URA. The Altez is expected to be completed in 2015.

The Tanjong Pagar area is undergoing a renaissance of sorts, with new office buildings like 20 Anson and Mapletree Anson coming up and the redevelopment of old office buildings into residential towers. One example is The Lumiere condo that is likely to be completed in the next few months on a former office site, while Marina House at 70 Shenton Way, across the street from 76 Shenton Way, was last month purchased by a consortium of boutique developers for redevelopment into a residential tower.

The newly opened Marina Bay Sands integrated resort has also attracted new investors to the area, as some of the new residential towers boast unblocked views of the development from the higher floors.

James Gan, a property agent at PropNex, says Icon is a popular choice for property investors. The 99-year leasehold condo, which was completed in early 2007, comprises mostly one- and two-bedroom units, although it has three-bedroom loft apartments as well. He says investors have been able to secure tenants very easily, given its location within the CBD, with two-bedroom apartments fetching $5,600 to $6,800 a month in rental. In terms of facilities, there’s a swimming pool, gym and tennis court. Convenient for tenants is also the fact that the ground floor contains shops, cafés and restaurants, and its proximity to the Tanjong Pagar MRT station.

For the period April 6 to 13, there were four transactions at Icon ranging from $1,727 to $1,828 psf, according to caveats lodged with URA Realis. The highest psf price was for a 1,248 sq ft unit on the 40th floor that commanded $2.28 million.

On the 28th floor, a 570 sq ft unit changed hands for $1.01 million, or $1,770 psf. The previous owner had purchased the unit for $1 million ($1,753 psf) in 2007. The unit was initially sold at launch in 2003 for just $438,180 ($768psf), and gave the first seller a 128% gain.

On the 26th floor, another studio apartment went for $995,000, or $1,744 psf. This represents a 24% gain for the seller, who purchased the unit for $800,000 ($1,402) in 2008. Before this, the unit changed hands for $490,000 ($859 psf) in 2006, providing a gain of 63% for the seller. The unit was sold at launch in 2003 for $437,120 ($766psf).

Received an sms (from agent i presume) stating a 30th floor studio transacted over $1,800psf. Is this true? The sms actually advises getting Altez as Icon's moving upwards will push Altez to beyond $2,500psf ... ... according to the sms. :)

Any credibility to the sms? I keep on replying 'unsub' to these sms-es but for some strange reason, I still received them. :ohno:

1827psf is 28-03
1770psf is 28-07

Both are city view.

Trying very hard to justify existence here as if he really worth listening to...

Lets give him a chance.

What about Icon? :bash: No wait.. that probably going to cause discomfort to some here.

Lets talk about something else, lets see....yes why dont you give us your take on that very nice temple infront of Icon. Good project? well build? good facing? got afternoon sun or not?
icon is history for me...
its true,the temple could b an eye sore for some who are not buddhist...
icon is NS facing,not much view for the entire project even for the high flr units imo. there will b hotel,altez n allgreen project coming up on both sides in the very near future as we already know. so there's no escaping from the constructions nearby d nxt few years just like lumiere...
anyway,not much intro needed for icon as its very well known in s'pore.
mrt at its doorstep. across the road u get ntuc,banks,wet mkt,coffee shops,4d etc..
its the location at the end of the day...:banana::banana::banana:

1827psf is 28-03
1770psf is 28-07

Both are city view.

Thanks, AK47. Wow, neighbours but $60psf difference. So the sms was truthful after all. :lol:

Is city view more popular?

Thanks, AK47. Wow, neighbours but $60psf difference. So the sms was truthful after all. :lol:

Is city view more popular?

Which is more popular. Hard to say. Personally i prefer cityview (i am biased of course)

Pool view will have immedate construction for at least the next 4-5 years with Altez and Skysuite@Anson. And better dont get the tennis court view which is beside the pool. At the other end, the new Mapletree office building is too close for comfort.

While cityview on the other side is zoned for 30 storey hotel, who know when the land will be triggered. Its been there for more than 2 years already and could be there for longer. Even if triggered and sold, it may take another 2-3 yrs to start construction (example Carlton Hotel site beside). So i reckon the view will be safe for 3 years.

By the way, cityview may eventually have pool view too :). Hotel pool....:banana:

But than hor buyer of Icon shouldnt go for view but location la...

...

The Carlton hotel site started fencing up, and 3 machines came in.... believe gonna start piling soon .....

At long last. If I remember correctly, this site was awarded before the other neighboring hotel site. I wonder where they kept that big Carlton luggage that was sitting in the middle of the site.

...

This Tanjong Pagar development will be twice the size of International Plaza

MND will add 2 new white sites at Choon Guan Street / Peck Seah Street and Boon Lay Way (next to Jurong East MRT Station), and 1 commercial site at Paya Lebar Road / Eunos Road 8 to the 2H2010 GLS Programme. The white site at Choon Guan Street / Peck Seah Street will be released via the Confirmed List to continue the development momentum in the Tanjong Pagar area. To provide more office space to support the growth of the financial and business services sector and to offer more hotel choices in the Central Business District (CDB), a minimum quantum for office space and hotel use will be specified for the land parcel.

Stunning record price for a one bedroom loft at Icon.

10 Gopeng Street #29-17 99 Yrs From 29/01/2002 $1972 657 $1295k 19 Aug 10

Stunning record price for a one bedroom loft at Icon.

10 Gopeng Street #29-17 99 Yrs From 29/01/2002 $1972 657 $1295k 19 Aug 10


wow...

New high for a #15 studio.

10 Gopeng Street #15-12 99 Yrs From 29/01/2002 $1893 570 $1080k 09 Sep 10

:banana:

New high for a #15 studio.

10 Gopeng Street #15-12 99 Yrs From 29/01/2002 $1893 570 $1080k 09 Sep 10

:banana:

after cooling measures somemore...wow

tot i just saw some agts posting 980k for Icon 1bedder on today classified...:lol:

lumiere got one 506sqft 970k (firesale) wor:nuts:

New high for a #15 studio.

10 Gopeng Street #15-12 99 Yrs From 29/01/2002 $1893 570 $1080k 09 Sep 10

Could this be a case of signing option just before the cooling measures?

Could this be a case of signing option just before the cooling measures?

most likely otp was signed before 30aug..if u count 2 weeks back from 9sep,it should b on 26aug..:cheers:

even if its done before 30aug...the price simply too high for 15th flr...either a big carrot or....

even if its done before 30aug...the price simply too high for 15th flr...either a big carrot or....
wonder how the bank's valuation are able to match 1893psf n 1972psf?
mayb its cash deal..:nuts:

wah.. this made the 5x-08 unit at TS asking 1960psf cheap..

wah.. this made the 5x-08 unit at TS asking 1960psf cheap..
this is even more shocking...top floor 2 bedder icon transacted @ 2515psf recently! it is playing catch-up now. :cheers:

Hotel plot infront of Icon has been triggered! 30 storey hotel coming up. The area is getting very interesting.

It is a 4-star hotel. Hotel plot infront of Icon has been triggered! 30 storey hotel coming up. The area is getting very interesting.

There's gonna be three new hotels in front of Icon. Wonder how's their architecture gonna be like. Anybody knows how the Carlton hotel will look like?

There's gonna be three new hotels in front of Icon. Wonder how's their architecture gonna be like. Anybody knows how the Carlton hotel will look like?
those icon units with cityview will also b blocked in the very near future......

3 hotels, 1 white site, 3 residential going up in about the same time. Good or bad?

New high of $2,515 psf at Icon

Prices at the 646-unit Icon on Gopeng Street reached a new high of $2,515 psf on Oct 15, when a 1,119 sq ft penthouse on the 46th floor was sold for $2.8 million. This breaks the previous record of $2,457 psf in November 2007, when another similar-sized unit on the same floor went for $2.75 million.

The new high set at the four-year-old, 46-storey condominium was for a prime unit sold by developer Far East Organization (FEO).

According to a spokeswoman, FEO sold two other 1,119 sq ft units last month, on the 45th floor, for $2.49 million ($2,224 psf) and $2.42 million ($2,168 psf). With the sale of the three units, the spokeswoman confirms that the project is fully sold.

Kelvin Lau, an agent with PropNex, says, “Developers usually hold on to a few good units and release them into the market when they think prices have reached a peak.”

Meanwhile, lower-floor units are also seeing a surge in prices, increasingly crossing $1,700 psf. Lau says he sold a few one- and two-bedroom units last month at $1,600 to $1,800 psf, adding that most sellers are now asking for $1,800 psf and above.

Still, he points out that prices at Icon are attractive, compared with new developments in the area. For instance, at the 62-storey, 280-unit Altez, also by FEO and located on Enggor Street adjacent to Icon, an 861 sq ft unit on the 38th floor most recently went for $2.2 million ($2,605 psf) in August. Altez is expected to be completed in 2015.

Meanwhile, at the newly completed 168-unit Lumiere by BS Capital along Mistri Road, adjacent to Anson Centre, a 505 sq ft unit on the 20th floor sold for $930,000 ($1,838 psf) on Oct 25. Lau adds that Icon is popular with local and overseas investors, as the project comprises mostly small units and enjoys a high rental yield. According to him, owners are asking for $4,000 a month and above for a one-bedroom unit.

The 99-year leasehold condo was, in fact, the first inner-city residential project to be launched in the heart of the CBD six years ago, and units are highly sought after owing to its proximity to offices in the Tanjong Pagar district and the short walking distance to the Tanjong Pagar MRT station. Restaurants, pubs and supermarkets are also within walking distance, while there are cafés, restaurants and shops at Icon Village.

Interest could also grow thanks to the redevelopment of plots in the Malaysian railway station and the port area into a new waterfront district and a desirable work-live-play neighbourhood. An upcoming residential project is Allgreen Properties’ SkySuites @ Anson next to Altez and Icon.

From Oct 15 to 26, there were five transactions at Icon at $1,698 to $2,515 psf, according to caveats lodged with URA Realis.

On the seventh floor, a 699 sq ft studio apartment fetched $1.188 million ($1,698 psf), representing a 191% gain for the seller, who purchased the unit for $408,004 ($583 psf) during the launch in 2003.

On the 13th floor, a 559.7 sq ft studio apartment unit was sold for $995,000 ($1,778 psf), translating into a 130% gain for the seller, who paid $432,800 ($773 psf) for it in 2006. Before this, the unit sold for $372,760 ($666 psf) in 2003.

It is evident that owners at the Icon enjoy good rental demand and capital gains as the neighbourhood is revitalised.

Source : The Edge – 15 Nov 2010

AMARA Shopping Centre at 100 Tras Street will be undergoing a S$32 million revamp.

According to its mainboard-listed owner (Amara Holdings, a homegrown integrated lifestyle group), the retail centre will be rebranded 100 AM. Amara chief executive Albert Teo said the name - pronounced 'one hundred ay em' - was picked because it is 'catchy and easy to remember'.


The additions and alteration works to the four-storey mall are slated for completion in the second quarter of 2012.

When completed, 100 AM will boast an additional 22,000 square feet of lettable space. FairPrice Finest and Koufu Food Court have been confirmed as anchor tenants.

Mr Teo told BT over the phone that 40 per cent of the mall space will be dedicated to food and beverage (F&B) outlets.

He believes the new mall will fill a gap in the market. '100 AM is poised to be the only full-fledged shopping centre in the Tanjong Pagar vicinity,' he said. 'The current trade mix does not address the changing demographics of the Tanjong Pagar area.'

100 AM will feature alfresco dining and new access routes connecting it with the Enggor Street traffic junction. Coloured glass fins on the building fa????ade will also be illuminated at night. 'The new mall will create a cosy, warm and contemporary feel which complements the new profile of shoppers, tourists and young residents who frequent the area or work and live among the fast-growing developments in the location,' said project architect Leong Chee Wai of Aedas Pte Ltd.

100 AM joins a crop of new developments in the Tanjong Pagar area.

'This area of the CBD has displayed much promise and growth with a cluster of high-end residential developments like Icon, Pinnacle and the upcoming Altez, Sky Suites and Keppel Towers redevelopment,' said Mr Teo.

Dennis Loh, Amara's group financial controller, said the revamp 'dovetails well with the group's financial strategy to enhance the yields of its investment properties through the retail mix revamp and optimisation of space utilisation'.

CB Richard Ellis (CBRE) has been appointed marketing agent for 100 AM.

'The timely enhancement of 100 AM will stand it in good stead to meet the overall development and revitalisation of the Tanjong Pagar area,' said CBRE's director of retail services Letty Lee.

Singapore - Developers are keen on the long-term potential of Tanjong Pagar's (picture) inner-city living, analysts say, with sites in the area attracting record bids and transaction prices.

Guocoland's bid last month for a white site above Tanjong Pagar MRT Station for $1.71 billion remains the highest on record for a Government land sale. The bid translates to $1,006 per sq ft per plot ratio for the 99-year leasehold site, 30 per cent of which could be developed into a residential property, according to Kim Eng Research.

In October, Keppel Land acquired GE Tower and Keppel Towers for residential development. The towers, opposite the Amara Shopping Centre, were bought for $573 million, or $1,189 psf. Kim Eng Research estimates that selling prices for the redeveloped GE and Keppel Towers will hit $2,600 psf.

Transacted prices in the vicinity have already gone above that level and were as high as $2,605 psf in Far East Organization's Altez. Altez is a short walk away from Tanjong Pagar MRT Station, between the Icon and the coming Skysuites@Anson condominiums.

Most of Tanjong Pagar's residential properties might continue to see transaction prices in the range of $1,800 to $2,000 psf, according to Kim Eng Research.

The numerous opportunities for leisure and work make Tanjong Pagar a very attractive area for developers, say analysts.

"The convenience and attractiveness of a downtown address remain highly sought after by young single expatriates and locals alike," said Dr Chua Yang Liang, head of research for South-east Asia at Jones Lang LaSalle.

With the Urban Redevelopment Authority's plans to turn Tanjong Pagar and Shenton Way into a "live, work, and play" precinct, "the attractiveness of this remaking story is hard to resist", said Dr Chua.

In an upswing, properties in Tanjong Pagar can lead to high profits "due to their smaller unit sizes and high prices", said the executive director of research at SLP International, Mr Nicholas Mak. For example, Altez sold an 861 sq ft unit for $2.2 million, or $2,605 psf, in August.

Tanjong Pagar will have 2,900 available units from existing and future projects by 2015. That has raised the spectre of oversupply but analysts say demand for housing in the area remains strong as Raffles Place or City Hall do not offer suitable sites for residential properties.

"The area is capable of producing more homes - smaller, stylish concepts in particular," said Mr Donald Han, vice-chairman of Cushman & Wakefield.

"The residential component will bring about change in the retail and F&B concepts in the financial districts: Supermarkets and gourmet restaurants will find their place here, replacing money changers and hawker stalls, for instance," he said.

"I think we have not hit a high threshold for residential inner-city living, judging from price and rental trends," he added.

Demand for residences in the area will also be helped by investors hoping to reap high returns from renting out these inner-city units, analysts say.

Monthly rentals in the Tanjong Pagar area are currently between $4.50 psf and $6.00 psf and are estimated to hit as much as $7 next year, while yields will remain at 3 to 4 per cent.

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