Southeast Asia a Bright Spot in the Global Flexible Office Market in 2023 with TEC Centres in the Region Exhibiting Average Occupancy Rates of Over 90%

SINGAPORE, Nov 27, 2023 – (ACN Newswire) – The Executive Centre (“TEC”), the leading premium flexible workspace provider that serves more than 47,000 Members in 33 cities across Asia-Pacific and the Middle East, has seen exceptional growth in Southeast Asia in 2023, with the momentum expected to carry on into 2024.

Led by client demand, TEC has added four new centres in Singapore, Jakarta, Ho Chi Minh City and Manila this year, with the latest addition in Manila on the 8th floor of Ayala Triangle Gardens Tower 2 which opened last month.

These new openings are backed by consistently high demand and occupancy rates of over 90% across multiple markets in the region in 2023. As of September 2023, TEC’s centres in Singapore and Manila are leading its portfolio at 95% and 98% occupancy rates, followed not far behind by Ho Chi Minh City at 91% and Jakarta at 81%. With these new expansions, TEC has added almost 1,200 workstations across these four key Southeast Asian markets in 2023, representing a 33% increase in workstation growth.

In Singapore, demand for office space is growing as multinational companies seek to relocate to the city-state and set up headquarters there to take advantage of Singapore’s status as a gateway city and key business hub. These include firms from the financial industry such as asset managers, private wealth managers, private equity firms and family offices, as well as technology startups from across the region that are seeking to move to more flexible workspaces which will allow them to downsize or upsize nimbly.

Office demand is also bolstered by the increasing “back-to-office” momentum in Singapore, as employers tighten hybrid working policies, with CBRE’s 2023 Singapore Office Occupier Sentiment Survey finding that 64% of companies are focused on increasing office attendance or improving work efficiency.

Despite the “back-to-office” trend, the way tenants use office spaces has irrevocably changed since pre-Covid days, as companies place greater emphasis on having access to a combination of purpose-built spaces including private offices for focused work, flexible seating, collaborative meeting rooms, and event spaces.

In response to this increased demand for flexible seating, meeting and event spaces, TEC will be opening a new centre from the 45th to 47th floors at Singapore Land Tower in January 2024.

Yvonne Lim, Managing Director of Southeast Asia at The Executive Centre said, “We have done exceptionally well particularly in Singapore with a city average occupancy of 95% in 2023, at the same time, we are seeing robust demand for our upcoming new centre at Singapore Land Tower on Levels 45 to 47. TEC’s expansions are largely driven by client’s requirement and the inter-city network within SEA continue to look strong with clients having multiple presence with TEC SEA network.”

Appendix: 2023 New Openings in Southeast Asia

Singapore

Capital Square (opened January 2023)

Capital Square is a Grade A office building located in Singapore’s no. 23 Church Street. Composing of a 16-storey office tower, Capital Square also features two blocks of restored heritage shop houses, boutique food and beverage outlets, retail amenities, and seven levels of parking space. Providing unrivalled accessibility and convenience to a myriad of users and business entities commuting from across the city and beyond, Capital Square is a strategic and modern location suited for future-forward corporate entities, creative businesses and innovative technology companies.

Size (square metres)	2,625
Workstations	430

Singapore Land Tower (opening in January 2024)

The Executive Centre at Singapore Land Tower provides a flexible workspace solution in the heart of Singapore’s central business district. Situated within 50 Raffles Place and located just steps away from Raffles Place MRT station, the tower is surrounded by shopping malls, restaurants and cafes. The 47-storey tower attracts reputable companies and organisations. Several embassies also call the building home, including Germany, Colombia and Ukraine

Opening in 2024:
Levels 45 to 47 Private Offices, Member Lounge and Reception (January 2024)

Size (square metres)	4,712
Workstations	490

Jakarta

Pacific Century Place (opened April 2023)

Located in the heart of Sudirman Central Business District, The Executive Centre at Pacific Century Place (PCP) is the professional’s first choice in flexible workspace, serviced offices and coworking solutions in the region. A sustainability-forward establishment, PCP is also the first office building in Indonesia to obtain Leed Platinum status and Platinum Grade certification by Greenship New Building. Businesses that are looking for a Sudirman Central office space that’s sustainable and accessible will not be disappointed by TEC’s level 39 centre, which features stunning city views and contemporary interior design.

Size (square metres)	1,600
Workstations	268

Ho Chi Minh City

Friendship Tower (opened July 2023)

Friendship Tower is a LEED-certified Grade A office building located in Ho Chi Minh City’s most well-known and strategic boulevards.

Size (square metres)	722
Workstations	125

Manila

Ayala Triangle Gardens Tower 2 (opened October 2023)

Ayala Triangle Gardens Tower 2 is the most sought-after location in the Philippines for domestic and multinational companies. Strategically located in the heart of Makati City’s business hub, it is surrounded by some of the most successful corporate names in the world. Companies from industries such as IT, financial services, real estate, manufacturing and legal can be found in Ayala Triangle Gardens.

Size (square metres)	1,895
Workstations	358

About The Executive Centre

The Executive Centre (TEC) is Asia’s premium flexible workspace provider, opened its doors in Hong Kong in 1994 and today boasts over 200+ Centres in 33 cities and 15 markets. It is the third largest serviced office business in Asia.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Events facilities to suit any business’ needs.

www.executivecentre.com

Press Enquiries:

FGS Global
Zephyr Ow
Zephyr.Ow@fgsglobal.com / +65 8022 7651

The Executive Centre
Pebble Lee
Pebble_lee@executivecentre.com / +852 3951 9888

Hektar REIT Achieves High Occupancy & Positive Reversions

KUALA LUMPUR, Nov 23, 2023 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”), today reported a resilient financial performance for the third quarter ended 30 September 2023 (“Q3 2023”). The REIT showcased a sustained commitment to financial stability and strategic growth in a challenging economic environment. In Q3 2023, Hektar REIT achieved a total revenue of RM27.8 million and an NPI of RM15.4 million. The Net Property Income (NPI) margin stood strong at 55.4%. These figures reflect the REIT’s adept handling of market volatilities and its dedication to operational efficiency.

En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd.

In addressing the challenges posed by increasing operational costs during Q3 2023, the Manager actively reinforces the REIT’s financial standing and amplifies profitability through sound capital management initiatives by demonstrating fiscal prudence. The REIT has successfully reduced its gearing ratio to 44.3% in the current quarter, down from 44.6% as of 31 December 2022, via a targeted debt reduction program.

Furthermore, the Manager continues to embrace an assertive and strategic leasing approach. The REIT has elevated the overall occupancy rate of its retail asset portfolio to 87.7% during the third quarter of 2023. Three of the malls under the portfolio, Mahkota Parade & Wetex Parade, recorded an occupancy rate of more than 93% and Kulim Central recorded close to 98%. Overall, rental reversions for the quarter were positive. These proactive measures are poised to enhance the tenancy mix, positioning the REIT for anticipated revenue growth in the upcoming quarters.

In a landmark move announced in September 2023, Hektar REIT has broadened its investment horizon with the proposed strategic acquisition of Kolej Yayasan Saad Melaka (KYSM), a renowned private boarding school located in Ayer Keroh, Melaka. This proposed acquisition, which is valued at RM150 million marks a significant pivot towards educational assets, diversifying Hektar REIT’s portfolio beyond its traditional retail focus. KYSM, established in June 1995, stands out as a top-tier institution, consistently ranked among the best for Sijil Pelajaran Malaysia (SPM) results.

The proposed acquisition of KYSM is not just a diversification move but also a strategic investment providing a sustainable and resilient income source. With a 30-year Quadruple-Net lease agreement that includes a guaranteed step-up yearly return, this investment promises a steady and potentially growing income stream for Hektar REIT. This acquisition is strategically financed through a balanced mix of Proposed Placements, internally generated funds, and borrowings. This approach ensures that the REIT maintains a healthy gearing ratio, preserving financial flexibility and stability while embarking on this significant expansion.

Hektar REIT’s commitment to Environmental, Social, and Governance (ESG) practices has again been prominently recognized in the industry. The organization’s conscientious approach to sustainability and corporate responsibility culminated in Hektar REIT receiving two Gold Awards at The Edge Malaysia ESG Awards 2023. These prestigious awards were for Outstanding ESG & Dividend Return Award and the Real Estate Investment Trust (REIT) Award.

This is a testament to Hektar REIT’s leadership in integrating ESG principles into its business model. The Awards were in collaboration with Bursa Malaysia, FTSE Russell & Morningstar and were designed to highlight and celebrate companies that exemplify outstanding ESG practices. Hektar REIT’s success in these categories demonstrates its effective integration of ESG considerations in its operational and strategic decisions. The recognition reflects the company’s dedication to creating sustainable value for stakeholders while contributing positively to environmental stewardship, social responsibility and ethical governance.

En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: “Hektar REIT’s malls, strategically positioned as neighbourhood and community hubs, have been the focal point of our success. Our unwavering commitment to enhancing the overall tenancy mix and occupancy levels at our malls reflects our dedication to our niche market.

This strategic move involves remixing tenancies by introducing new, vibrant tenants to complement our existing offerings. We are confident that this initiative will not only meet but exceed the expectations of our loyal patrons. Our primary focus remains on implementing targeted strategies to improve visitor footfall and create a sustained positive cycle for our malls and retailers. Our overall committed occupancy currently stands at 88.4%, and we are positive we will surpass the 90% mark by the end of this year. We believe in initiatives yielding long-term benefits and ensuring continuous growth, ultimately delivering sustainable returns to our Unitholders.”

Hektar REIT: http://www.hektarreit.com/

Andrew Enofe Was Featured in the Nationwide & International Edition of Top Agent Magazine

TORONTO, ON, Nov 9, 2023 – (ACN Newswire) – Andrew Enofe of Right at Home Realty Brokerage was featured in the Nationwide & International Edition of Top Agent Magazine in October 2023. Top Agent Magazine is the premier real estate magazine featuring the foremost real estate agents, mortgage professionals, and affiliates in the USA, Europe, Canada, Australia, and New Zealand. Top Agent Magazine features the top producing and most accomplished professionals in the real estate industry, offering an in-depth look at their careers and providing a blueprint for their success.

To be considered for a feature in Top Agent Magazine, all professionals must go through a nomination and interview process. All candidates are then evaluated based upon production and professionalism, as well as industry and community involvement. It is considered a privilege to be nominated as it speaks to a certain success level all real estate agents strive for. Top Agent has set itself apart as a trusted source of real estate information and inspiration. Andrew Enofe is a stellar example of the kind of prominent leaders of real estate we are proud to feature in Top Agent Magazine.

The full story on Andrew can be found at https://topagentmagazine.com/top-real-estate-agent-in-ontario-andrew-enofe.

“I’m truly honored to be featured and chosen for Top Agent Magazine. It’s a testament to the hard work and dedication I’ve put into my career as a real estate agent. I believe in delivering exceptional service to my clients, and this recognition serves as validation of my commitment to excellence in the industry. I’m grateful for the opportunity to share my experiences and insights with a wider audience through Top Agent Magazine.” – Andrew Enofe

To contact Andrew or for more information, email andrew@andrewenofe.com, website: andrewenofe.com, or call +1416-833-8909, +905-226-3006.

Instagram: @andrew_enofe LinkedIn: Andrew Enofe Facebook: AEnofe YouTube: @andrewenofe Twitter: @Andrew_Enofe

Andrew Enofe Real Estate Inc.
258-7777 Weston Road Vaughan, ON L4L 0G9 Canada

Contact Information:
Andrew Enofe
Real Estate Agent
andrew@andrewenofe.com
4168338909

Hektar REIT Achieves Historic Success: ESG Performance Rewarded with Dual Gold Accolades at The Edge Malaysia ESG Awards 2023

KUALA LUMPUR, Nov 7, 2023 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”), is pleased to announce that Hektar REIT is the proud recipient of two Gold Awards at The Edge Malaysia ESG Awards 2023 under the Equity Awards category. These awards were for the categories of Outstanding ESG and Dividend Return Award and Real Estate Investment Trust (REIT) Award.

Senior Manager, Business Strategy Muhammad Fahmi bin Rasni; Senior Manager, Finance, Mohamad Othman bin Mail; GM, Legal, Martin Chen Kuok Yeow; GM, Business Development & Strategy, Nor Sabrina binti Halim; ED & CEO, Johari Shukri bin Jamil; Senior GM, Finance, Lim Kek Siang; Assistant Manager, Investor Relations, ESG & Special Projects, Muhammad Bakhtiar Ul Haq; and Manager, Risk & Assurance, Aida binti Zainudin of Hektar REIT[L-R]

Hektar REIT was announced as one of this event’s biggest winners in the equities category. These awards serve as a testament to Hektar REIT’s steadfast dedication to maintaining the highest levels of excellence in Environmental, Social, and Governance (ESG) practices. The distinguished award ceremony took place during a grand gala dinner at the Hilton, Kuala Lumpur, on 6 November 2023 and was officiated by Minister of Natural Resources, Environment, and Climate Change Nik Nazmi Nik Ahmad.

The Edge Malaysia ESG Awards 2023, a prestigious accolade in the industry, is divided into two distinct categories: the Equity Awards and the Fund Awards. Its primary aim is to recognize and laud the exemplary performance of Malaysia’s leaders in ESG excellence.

Under the Equity category, The Edge Malaysia collaborates closely with Bursa Malaysia and FTSE Russell. The objective is to spotlight and celebrate the best-performing PLCs, with the evaluation process grounded on the robust methodology provided by FTSE Russell. The Fund category sees The Edge Malaysia partnering with Morningstar to identify and reward the top-performing asset management firms using the latter’s recognized method. These awards were aimed at promoting ESG adoption and leadership amongst industry leaders and professionals by recognizing their contributions and successes.

Hektar REIT qualified under the category of Equity Awards, whereby a company must be listed on Bursa Malaysia and be a constituent of the FTSE Bursa Malaysia EMAS Index as of June 2023. Another key criterion for eligibility was for the companies to be assessed by FTSE Russell in December 2022 and June 2023. The Outstanding ESG and Dividend Return was a new category introduced by The Edge and companies were evaluated based on their performance for the last five years.

Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said, “We are filled with gratitude and enthusiasm for securing these two prestigious Gold Awards, a significant milestone in Hektar REIT’s exceptional journey. It is a resounding affirmation of our unwavering dedication to weaving ESG principles into every facet of our operations and strategic vision, reinforcing our commitment to sustainability and the creation of long-lasting stakeholder value. At Hektar REIT, we firmly believe that our steadfast embrace of robust ESG practices forms the basis upon which we construct sustainable value for our esteemed unitholders, devoted shoppers, and the communities we are privileged to serve.

The significance of these two gold awards cannot be overstated; they symbolize the historical milestone we have achieved and propel us further towards continuing our sustainability mission. As we move forward, we remain deeply committed to not only maintaining but surpassing the high standards that have earned us these accolades. We understand that this success comes with a weighty responsibility, and we embrace it with enthusiasm, passion, and the utmost dedication.

Our journey is far from over; it has only just begun. With these two gold awards as our guiding stars, we are determined to explore new horizons and demonstrate that adopting a sustainable approach is not merely an option but a definitive path towards a more promising future for everyone.”

Hektar REIT remains committed to integrating ESG into all aspects of the business, from financial management to operations and future planning. This dedication is a cornerstone of our mission to deliver robust and enduring value to our stakeholders, positioning us for a prosperous future.

Hektar REIT: http://www.hektarreit.com/

Impressive companies, remarkable individuals take centre stage at the 13th PropertyGuru Asia Property Awards (Singapore)

Singapore, Oct 30, 2023 – (ACN Newswire) – PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, today named the Winners and Highly Commended recipients of the 13th Annual PropertyGuru Asia Property Awards (Singapore), supported by Mitsubishi Electric Asia Pte Ltd.

Singapore’s finest development companies and most accomplished real estate leaders were present at the black-tie gala dinner and presentation ceremony held at The Ritz-Carlton, Millenia Singapore. Around 49 golden statuettes, representing a diverse array of categories, were presented at the gala event, celebrating established and up-and-coming names alike in the real estate industry.

GuocoLand earned the Best Developer award, its fourth win in this category, in addition to the Special Recognition in ESG and Special Recognition in Sustainable Design and Construction. The company also garnered three wins for its project Lentor Modern, namely Best Integrated Development, Best Private Condo Development, and Best Private Condo Architectural Design.

UOL Group Limited, last year’s Best Developer titleholder, was named Best Residential Developer, Best Sustainable Developer, and Best Hospitality Developer. The company also gained two Special Recognitions. UOL Group Limited and Singapore Land Group Limited jointly won four titles for their projects Watten House and Pinetree Hill.

Hoi Hup Realty Pte Ltd was named Best Lifestyle Developer while its subsidiary Hoi Hup Sunway Katong Pte Ltd scored four wins for the project known as The Continuum. Another subsidiary, Hoi Hup Sunway Kent Ridge Pte Ltd, attained a win for its project Terra Hill.

Frasers Property Singapore was another big winner of the night, scoring six wins, including Best Mixed Use Developer. Riviere, a project by Frasers Property Singapore, gained two wins, including the sought-after Best Condo Development (Singapore) award.

The sought-after Best Housing Development (Singapore) title went to Pollen Collection, a project by Bukit Sembawang Estates Limited. The company achieved a total of four wins, including the title of Best Landed Developer.

Solitaire Cecil Pte Ltd (TE Capital Partners and LaSalle Investment Management) received the Best Commercial Developer title, plus two wins for its project Solitaire on Cecil. Da Vinci Land was meanwhile named Best Breakthrough Developer.

The Assembly Place won the title of Best Co Living Operator , buoyed by a win for the project Campus @ Telok Kurau. Eugene Lim YJ, founder and CEO, The Assembly Place, came to accept the very first Rising Star award, presented by official portal partner PropertyGuru.com.sg, in recognition of his impactful arrival in the real estate scene.

Tan Zhiyong, chief executive officer, MCC Singapore, also graced the celebration with his presence. He accepted the Singapore Real Estate of the Year award from the editorial team of Property Report by PropertyGuru, the official magazine.

Tan Zhiyong said: “I am proud to be conferred the Real Estate Personality of the Year award and I would like to thank PropertyGuru for this accolade. It is my privilege to be inducted in the hall of fame for this category.”

Another big winner of the night was EL Development Pte Ltd, garnering five wins for the projects Pullman Singapore Hill Street and Blossoms By The Park.

Jeremy Williams, managing director, Marketplaces, PropertyGuru Group, said: “I would like to extend my congratulations to this year’s recipients of the PropertyGuru Asia Property Awards (Singapore), celebrating the country’s finest developers, projects, and designs. The accolades this year have been presented to established and emerging names alike in the industry, and deservedly so. With their forward-thinking, sustainable ideas and innovations, these exemplary enterprises can light the way for building the cities of tomorrow, starting with Singapore, and deliver value to property seekers.”

Jules Kay, GM of PropertyGuru Asia Property Awards and Events, said: “The style, sustainability, and smartness of Singapore’s world-leading built spaces never fail to impress. The best developments in the Lion State not only meet the needs of the property seeker, but also the greater good of the community. With a variety property types and target buyers, this year’s winning projects represent Singapore real estate at its finest: technologically sophisticated, well-integrated into the local environment, and thoughtfully designed. As part of the region’s business and tourist hub, these award-winning properties set the stage for how people will live, work, and thrive in tomorrow’s cities.”

The independent panel of judges who determined the list of awardees this year consist of Kristin Thorsteins, chairperson of the Awards in Singapore and head of partnerships – growth for APAC, IWG PLC; Annalisa Dass, director, digital strategy, EY-Parthenon; Chua Shang Chai, partner, Dentons Rodyk & Davidson LLP; Greg Shand, architect, Robert Greg Shand Architects; Henry Woon, director, Atelier Ten; Ar. Ivy Koh, deputy COO, SJ Architecture, Surbana Jurong Consultants Pte Ltd.; Roy Ling, CEO, board director, and adjunct professor, FollowTrade; Tay Kah Poh, adjunct associate professor, NUS Department of Real Estate; and Wenhui Lim, partner, Spark Architects.

As official supervisor, HLB Singapore Foo Kon Tan upheld the selection process’ fairness, transparency, and integrity, under the leadership of Raymond Kong and Chen Tsai-Wei Vivian.

Main country winners of the PropertyGuru Asia Property Awards (Singapore) will be eligible to advance to the 18th PropertyGuru Asia Property Awards Grand Final on Friday, 8 December in Bangkok, Thailand. Winners will compete for honours against their peers from Cambodia, Indonesia, Malaysia, Philippines, Thailand, and Vietnam, as well as Australia, India, Japan, and China.

Organised by PropertyGuru Group, the 13th PropertyGuru Asia Property Awards (Singapore) are supported by gold sponsor Mitsubishi Electric Asia Pte Ltd.; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partners AspirantSG, d+a Magazine, SquareRooms, and Top 10 Singapore; supporting association Singapore Estate Agents Association; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

COMPLETE LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES

13th PropertyGuru Asia Property Awards (Singapore)

DEVELOPER AWARDS

Best Developer
WINNER: GuocoLand

Best Residential Developer
WINNER: UOL Group Limited

Best Landed Developer
WINNER: Bukit Sembawang Estates Limited

Best Mixed Use Developer
WINNER: Frasers Property Singapore

Best Commercial Developer
WINNER: Solitaire Cecil Pte Ltd (TE Capital Partners and LaSalle Investment Management)

Best Hospitality Developer
WINNER: UOL Group Limited

Best Lifestyle Developer
WINNER: Hoi Hup Realty Pte Ltd

Best Sustainable Developer
WINNER: UOL Group Limited

Best Breakthrough Developer
WINNER: Da Vinci Land

Best Co Living Operator
WINNER: The Assembly Place

DEVELOPMENT AWARDS

Best Integrated Development
WINNER: Lentor Modern by GuocoLand

Best Mixed Use Development
WINNER: One Bernam by HY-MCC (Bernam) Pte Ltd

Best Mega Scale Condo Development 
WINNER: Grand Dunman by Grand Dunman Pte. Ltd.

Best Ultra Luxury Condo Development
WINNER: Klimt Cairnhill by Low Keng Huat (S) Limited

Best Luxury Condo Development
WINNER: Watten House by UOL Group Limited and Singapore Land Group Limited

Best Premium Condo Development
WINNER: The Continuum by Hoi Hup Sunway Katong Pte Ltd
HIGHLY COMMENDED: Pinetree Hill by UOL Group Limited and Singapore Land Group Limited
HIGHLY COMMENDED: Terra Hill by Hoi Hup Sunway Kent Ridge Pte Ltd

Best Private Condo Development
WINNER: Lentor Modern by GuocoLand
HIGHLY COMMENDED: Blossoms By The Park by EL Development Pte Ltd
HIGHLY COMMENDED: Grand Dunman by Grand Dunman Pte. Ltd.
HIGHLY COMMENDED: The LakeGarden Residences by Wing Tai Asia

Best Executive Condo Development
WINNER: Altura by TQS (2) Development Pte Ltd

Best Completed Private Condo Development
WINNER: Seaside Residences by Frasers Property Singapore

Best Nature Integrated Development
WINNER: The LakeGarden Residences by Wing Tai Asia
HIGHLY COMMENDED: Terra Hill by Hoi Hup Sunway Kent Ridge Pte Ltd

Best Waterfront Condo Development
WINNER: Riviere by Frasers Property Singapore

Best Landed Housing Development
WINNER: Pollen Collection by Bukit Sembawang Estates Limited

Best Lifestyle Development
WINNER: The Continuum by Hoi Hup Sunway Katong Pte Ltd

Best Green Development
WINNER: The LakeGarden Residences by Wing Tai Asia

Best Hotel Development
WINNER: Pullman Singapore Hill Street by EL Development Pte Ltd

Best Reconstruction Project Development
WINNER: Solitaire on Cecil by Solitaire Cecil Pte Ltd (TE Capital Partners and LaSalle Investment Management)

Best Industrial Development
WINNER: CT FoodNEX by Chiu Teng Group

DESIGN AWARDS

Best Mega Scale Condo Architectural Design
WINNER: Grand Dunman by Grand Dunman Pte. Ltd.

Best Luxury Condo Architectural Design
WINNER: Watten House by UOL Group Limited and Singapore Land Group Limited

Best Premium Condo Architectural Design
WINNER: The Continuum by Hoi Hup Sunway Katong Pte Ltd
HIGHLY COMMENDED: Pinetree Hill by UOL Group Limited and Singapore Land Group Limited

Best Private Condo Architectural Design
WINNER: Lentor Modern by GuocoLand

Best Ultra Luxury Condo Interior Design
WINNER: Klimt Cairnhill by Low Keng Huat (S) Limited

Best Premium Condo Interior Design
WINNER: Terra Hill by Hoi Hup Sunway Kent Ridge Pte Ltd

Best Private Condo Interior Design
WINNER: Blossoms By The Park by EL Development Pte Ltd

Best Luxury Condo Landscape Design
WINNER: Watten House by UOL Group Limited and Singapore Land Group Limited

Best Mega Scale Condo Landscape Design
WINNER: Grand Dunman by Grand Dunman Pte. Ltd.

Best Premium Condo Landscape Design
WINNER: Pinetree Hill by UOL Group Limited and Singapore Land Group Limited

Best Private Condo Landscape Design
WINNER: Blossoms By The Park by EL Development Pte Ltd

Best Hotel Architectural Design 
WINNER: Pullman Singapore Hill Street by EL Development Pte Ltd

Best Hotel Interior Design   
WINNER: Pullman Singapore Hill Street by EL Development Pte Ltd
HIGHLY COMMENDED: Pan Pacific Singapore by UOL Group Limited

Best Office Architectural Design 
WINNER: Solitaire on Cecil by Solitaire Cecil Pte Ltd (TE Capital Partners and LaSalle Investment Management)

Best Co Living Space
WINNER: Campus @ Telok Kurau by The Assembly Place
HIGHLY COMMENDED: Duke Residences by The Assembly Place
HIGHLY COMMENDED: Hovoh Complete Homes by Hovoh Pte Ltd

Best Sales Gallery Architectural Design
WINNER: The Continuum by Hoi Hup Sunway Katong Pte Ltd
HIGHLY COMMENDED: Grand Dunman by Grand Dunman Pte. Ltd.

BEST OF SINGAPORE AWARDS

Best Condo Development (Singapore)
WINNER: Riviere by Frasers Property Singapore

Best Housing Development (Singapore)
WINNER: Pollen Collection by Bukit Sembawang Estates Limited

SPECIAL AWARDS

Rising Star
WINNER: Eugene Lim YJ, Founder and CEO, The Assembly Place

Special Recognition in ESG
WINNER: Bukit Sembawang Estates Limited
WINNER: Frasers Property Singapore
WINNER: GuocoLand
WINNER: UOL Group Limited

Special Recognition in Sustainable Design and Construction
WINNER: Frasers Property Singapore
WINNER: GuocoLand
WINNER: UOL Group Limited

PUBLISHER’S CHOICE

Singapore Real Estate Personality of the Year
WINNER: Tan Zhiyong, Chief Executive Officer, MCC Singapore

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent.

In 2023, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2023.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 37 million property seekers2 to connect with almost 60,000 agents monthly3 to find their dream home. PropertyGuru empowers property seekers with more than 2.9 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

(1) Based on SimilarWeb data between October 2022 and March 2023.
(2) Based on Google Analytics data between October 2022 and March 2023.
(3) Based on data between January 2023 and March 2023.
(4) Based on data between October 2022 and March 2023.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Media & Partnerships:
Nate Dacua, Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sponsorships:
Kanittha Srithongsuk, Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: kanittha@propertyguru.com

Sales & Nominations:
Alicia Loh, Awards Manager (Singapore)
M: +65 8382 0078
E: alicia@propertyguru.com.sg

The Assembly Place Launches Its Largest Co-Living Space Till Date

SINGAPORE, Oct 19, 2023 – (ACN Newswire) – The Assembly Place (TAP) has successfully launched its largest co-living space till date. Campus by the Assembly Place is Singapore’s first premium co-living student accommodation situated along 116 Lorong J and 119 Lorong K Telok Kurau, spanning more than 100,000 sqft with more than 20 facilities tailored for students, such as social kitchens, study pods, indoor gym and outdoor CrossFit zone and with landscapes that boast of hideout gardens and pavilions. There are a total of 426 beds in this asset.

“Many thoughts have been put into the design of this space since we took over the asset in May this year.” said Eugene Lim, CEO and Founder of The Assembly Place. “We realise that most student accommodation in Singapore would just have a single bed with a small desk beside it. What we have created is a self-sufficient loft system that our students can still enjoy their own privacy while staying with fellow members in the room. These pod-like system comes with its own bed, wardrobe, study table, as well as a space to put their luggage and even shelves for their books. Each space comes with its own lighting system and power sockets for charging of laptops and other electronics” he added.

“We have also engaged renown landscape architect, Ecoplan with our landscape design. With a site that spans more than 100,000 sqft, we want to ensure that the landscape and facilities that is created will be suitable for our students” said Lim.

More than just spaces, The Assembly Place is in the business of building a robust community. With the launch of Campus, TAP will have more than 1800 keys and is on target to cross 2000 keys by the end of this year. “As our community grow and with more members in our database, we can have more scalable and meaningful community events” says Lim. “We are very excited with the many programs that have been lined up at Campus which will also benefit our wider community. The joy is always to see our members connecting and making meaningful friendships, especially for our overseas friends during their stay in Singapore.”

Strengthening The Assembly Place’s Position as the Accommodation of Choice

Other than the launch of Campus, The Assembly place has also secured 2 more buildings, 18 Roberts Lane, by Goodland Group and 21 Lor 13 Geylang. These 2 additions will add on another 55 keys to TAP’s growing portfolio and stronghold in these areas. Renovation works has started for both projects and they will be launched by the end of this year.

TAP has also recently launched its second serviced residences, The Assembly Place, Serviced Residences @ River Valley which is located at 3 Tank Road and their third serviced residences located at 18 Penhas is slated to be launched by the end of the month.

These will add on to the range of accommodation choices that can cater to the different needs of our members and strengthen TAP’s position to be the accommodation of choice.

Strong Occupancy Rate

In early April this year, TAP took over Feng Lai Mansion, an 80 keys apartment block located at 39 Lorong 30 Geylang. It was launched in two phases during the third week of May after completing major renovation and uplifting works. Within the first 2 months of launch, TAP has managed to achieved 100% occupancy rate for this property. The strong take up rate can be attributed to the convenient location, attractive room rates and the growing demand of quality accommodation in the area.

Since the launch of the residential building block at 6 Duke’s Road and 551 Bukit Timah Road in February this year, all of the 42 keys within the property were fully leased within the first six weeks of launch and demand and occupancy has remained strong till date.

With the shift in mindsets and lifestyle preferences, TAP is optimistic that demand and occupancy for co-living will remain strong due to its cost-efficiency, social connections and convenience.

About The Assembly Place

The Assembly Place is a homegrown Co-Living brand that was founded in 2019 and started from a humble beginning of 6 rooms in 2019. It is the first Co-Living operator in Singapore to cover the full spectrum of accommodation spaces, to be the accommodation of choice. The Assembly Place aims to foster connections and build an inclusive community.

Contacts:
Eugene Lim (Founder & CEO): +65 9477 8051 eugene.lim@theassemblyplace.com
Hou Shiying (General Manager): +65 9619 4123 shiying.hou@theassemblyplace.com

Campus by The Assembly Place - Landscape — Campus by The Assembly Place – Landscape

21 Lor 13 Geylang - Facade — 21 Lor 13 Geylang – Facade

18 Roberts Lane - Facade — 18 Roberts Lane – Facade

18 Penhas Road - Facade — 18 Penhas Road – Facade

6 Duke's Road & 551 Bukit Timah Road - Facade — 6 Duke’s Road & 551 Bukit Timah Road – Facade

Feng Lai Mansion - Facade — Feng Lai Mansion – Facade

Archistar, Blackfort and Corelogic have identified 655,000 potential sites in Sydney, Melbourne and Brisbane for granny flat development

SYDNEY, AU, Oct 17, 2023 – (ACN Newswire) – New analysis of all residential properties across Australia’s three largest capitals has identified more than 655,000 sites suitable for the construction of a granny flat, offering a solution to help ease the housing shortage.

The inaugural report Granny flats: Where are the greatest opportunities for development? by national town planning research platform Archistar, real estate construction lender Blackfort, and property data and analytics provider CoreLogic assessed every residential block across Sydney, Melbourne and Brisbane to determine how many individual properties have building potential for a self-contained two-bedroom unit.

Sydney is home to the most granny flat development opportunities with around 242,000 suitable properties, representing 17.6% of the metro region’s housing stock. Melbourne has almost 230,000 potential sites, representing 13.2% of stock, while Brisbane has almost 185,000 suitable sites, representing 23.3% across the metro region.

Of these sites, more than a third (36%) are within two kilometres of a train or light rail station and 17% have a hospital within the suburb boundary, demonstrating a combination of accessibility and opportunity to fast-track housing options for essential workers in the health care sector.

CoreLogic Research Director Tim Lawless said the results highlight significant untapped development potential which could go some way toward addressing the housing shortage in the country’s largest cities.

“NHIFC forecasts indicate the national housing market is forecast to be undersupplied to the tune of 106,300 dwellings over the next five years,” Mr Lawless said.

“For policy makers and government, granny flats present an immediate and cost-effective opportunity to deliver much needed housing supply within existing town planning guidelines. For homeowners, the addition of a second self-contained dwelling provides an opportunity to provide rental housing or additional accommodation for family members, while at the same time, increasing the value of their property and potentially attaining additional rental income.”

Archistar co-founder Dr Benjamin Coorey said accommodating the growing population within these larger capitals is a critical issue that flexible housing solutions can help address.

“Since granny flat developments leverage existing lot areas and require no changes to town planning regulation, they offer an immediate opportunity to address housing shortages and affordability pressures expected in the coming five years for both buyers and renters.”

Top Sydney council regions and suburbs

Sydney is home to the most granny flat development opportunities, with 242,081 existing residential dwellings fitting the zoning, land area and existing home position requirements to build a granny flat.

Across Sydney’s council regions, the Central Coast hosts the most granny flat development opportunities, with 41,569 or 17.2%, of all potential sites. The Northern Beaches (19,884 / 8.2%), Hornsby (18,344 / 7.6%), Blacktown (17,909 / 7.4%) and Ku-Ring-Gai (14,617 / 6.0%) round out the top five regions.

At a suburb level, neighbouring North-West suburbs show the highest opportunities for granny flat development. Baulkham Hills (4,673 / 43.3%), Castle Hill (4,423 / 39.8%), Cherrybrook (3,421 / 61.8%), Carlingford (2,910 / 46%) and West Pennant Hills (2698 / 49.3%) stand out due to their larger land areas compared to inner-city neighbourhoods.

“Sydney’s household formation is forecast to outpace supply from 2025, with the most significant undersupply expected through 2025 and persist up until 2026 at -15,900 dwellings,” Mr Lawless said.

Top Melbourne council regions and suburbs

“Melbourne is expected to face a major housing shortage from 2023 to 2027, with a deficit of 23,800 dwellings, which is nearly twice the anticipated shortfall of 12,100 new dwellings in Sydney during the same period,” he said.

Within Melbourne’s broad regions, the Mornington Peninsula offers the highest potential for granny flat development, with 23,870 sites which make up 10.4% of the total sites across the city. Casey (16,861 / 7.4%), Monash (13,960 / 6.1%), Knox (13,741 / 6.0%) and Manningham (13,063 / 5.7%) round out the top five municipalities for the most granny flat development sites.

East of Melbourne’s CBD, Glen Waverley (4,009 / 27.4%), Rowville (3,674 / 30.3%) and Berwick (3,604 / 18.3%) suburbs show highest opportunities for granny flat investment sites. Hotspot potential extends out to the coastal suburb of Rye (3,705 / 38.6%) and the northern suburb of Doncaster East (3,397 / 34.9%).

Top Brisbane council regions and suburbs

Mr Lawless said Brisbane’s housing supply shortfall is more imminent relative to the larger capital cities, with the current forecast of newly built housing supply short by 3,100 this year.

Across the council areas of Greater Brisbane, the Brisbane LGA has the most granny flat development sites, with 184,660 or 40.5% of all opportunities. Logan (33,414 / 18.1%), Moreton Bay (31,949 / 17.3%), Ipswich (22,569 / 12.2%) and Redland (19,243 / 10.4%) round out the top five council regions for the most granny flat development sites.

The top five Brisbane suburbs with the highest potential for granny flat development sprawl out across urban centres, with opportunities in The Gap (2,986 / 48.8%), Alexandra Hills (2,789 / 46%), Redbank Plains (2,479 / 30.3%), Albany Creek (2,378 / 44%) and Rochedale South (2,215 / 42.3%).

Granny flat development benefits

Mr. Lawless said there are immediate lifestyle and financial upsides for investors whose properties met the planning requirements.

“Adding a granny flat accommodates extra living space for extended family, multi-generational households or rental purposes, thereby boosting a property’s value and potentially creating extra income for rising living costs.

“CoreLogic figures show an extra two bedrooms, and an additional bathroom could add around 32% to the value of an existing dwelling. For a house worth $500,000, the addition of a granny flat has the potential to add approximately $160,000 to the value of the property.”

Dr Coorey said research showed more than a third of the sites identified are close to existing amenities and services such as transport or a hospital.

“Granny flats present a cost-effective opportunity to boost housing supply for growing capital populations close to existing infrastructure such as railways, bus routes and major road networks for state and local governments.

“While building regulations for secondary dwellings differ state to state, this unlocks a combination of accessibility and opportunity to fast track affordable housing options for all demographics, particularly essential workers in industries such as the health care sector.”

Read the full Granny flats: Where are the greatest opportunities for development report here.

About Archistar

Founded by Dr. Benjamin Coorey, a global expert in 3D generative design, Archistar is the world’s leading digital platform for the Property Industry. The platform combines architectural design with artificial intelligence to inform decision-making in property and is used by agents, developers, architects, government planners and homeowners nationwide. Since launching in 2018, Archistar has grown rapidly, listed by the AFR as the 20th fastest growing company in Australia.

About Blackfort

Blackfort is a revolutionary real estate lender, that focusses on the longtail funding needs of the commercial real estate debt market – AU$750,000 to AU$20 million. The company uses proprietary AI-led decision making to rapidly assess sites for their development potential enabling confident and rapid decision making for funders and developers alike in Australia, New Zealand and Canada. The company is led by a world-class executive management team and board and is chaired by the former Managing Director of Murdoch Media Prabhat Sethi.

About CoreLogic

CoreLogic Asia Pacific (CoreLogic) is a leading, independent provider of property data and analytics. We help people build better lives by providing rich, up-to-the-minute property insights that inform the very best property decisions. With an extensive breadth and depth of knowledge gathered over the last 30 years, we provide services across a wide range of industries, including Banking & Finance, Real Estate, Government, Insurance and Construction.

For more information or interview requests, please contact:
Michelle McKinnon and Santi Arya via media@corelogic.com.au

Note to editors: A granny flat is defined in the report as a self-contained two-bedroom / one-bathroom dwelling measuring at least 60sqm internally, and Archistar notes not every property is suitable for an additional dwelling. The report’s methodology takes into consideration town planning guidelines, minimum land size requirements and the footprint of the existing property, which determines the suitability of a granny flat.

Historic Edition of the PropertyGuru Asia Property Awards (Australia) Commemorates the Country’s Finest Real Estate

MELBOURNE, Oct 16, 2023 – (ACN Newswire) – PropertyGuru Group (NYSE: PGRU) today announced the Winners and Highly Commended recipients of the 6th PropertyGuru Asia Property Awards (Australia), supported by sponsor Subzero Wolf and partner Realestate.com.au, among others.

Australia’s finest developers and projects were honoured across 42 categories in the biggest edition yet of the awards programme, held for the first time at the Grand Hyatt Melbourne. The black-tie gala dinner and ceremony in the Victorian capital mark the first-ever occurrence of the prestigious event in Australia.

Garnering 13 wins, Aqualand was the most awarded developer of the night, winning the Best Developer title for the first time as well as the Best Luxury Developer and Best Mixed Use Developer titles. Aura by Aqualand was the most awarded project with six wins, including the Best Mixed Use Development award.

Other winning developments by the company were the luxury heritage development and waterfront apartment development known as The Revy at Darling Island and the luxury apartment development in New South Wales known as Blue at Lavender Bay.

Shangjin Lin, founder and group managing director of Aqualand, was named Australia Real Estate Personality of the Year by the editorial team of Property Report by PropertyGuru, the official magazine, for achievements that include spearheading some of Australia’s largest urban renewal projects.

Salvo won the Best Lifestyle Developer title, in addition to a win for the high-rise apartment project Moray House. Skyland Group also won two awards, including the Best Luxury Boutique Developer title and a win for the boutique luxury apartment development in New South Wales known as Villia Bellevue Hill.

Luisant Queensberry Pty Ltd. clinched the Best Breakthrough Developer title, one of four wins that include accolades for the company’s townhouse project Queensberry St. MRCB International was named Best Boutique Developer, with 26 Vista by MRCB Australia winning Best Lifestyle Development (Queensland).

Mark Moran Group was honoured with Special Recognitions in ESG and Sustainable Design and Construction, plus the Best Senior Living Landscape Design award for The Garden at Warrawee by Evette Moran.

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

Highett Common by Sunkin Property Group gained three awards, including Best Apartment Development (Victoria).

Jeremy Williams, managing director, Marketplaces, PropertyGuru Group, said: “We are proud to have held the largest edition of our Awards in Australia this year in Melbourne. The distinguished companies honoured this year have impressed the judges with their range and diversity, including the country’s finest apartments, housing, townhouses, smart homes, student accommodations, and senior living spaces. Together, they raise the gold standard of real estate in Australia and help local and international investors alike make confident property decisions in the country.”

Jules Kay, GM of PropertyGuru Asia Property Awards and Events, said: “Australia has long been a sought-after investment destination for property seekers from Asia, so we’re delighted to host the PropertyGuru Asia Property Awards for the first time in Melbourne. The awarded companies have conceptualised and created a range of impressive properties that offer a diverse choice of appealing opportunities for cross-border investors. These well-deserved awardees represent the growth and innovation that continue to drive the Australian property market.”

The list of winners was determined by an independent panel of judges comprising Lui Violanti, chairperson of the Awards in Australia and regional manager for Western Australia, Inhabit Group; Benson Zhou, director and divisional head for Asia Market in Victoria, Savills Melbourne; Edward Haysom, general director, Haysom Architects Vietnam; Ivan Lam, head of international business, Charter Keck Cramer; Jessica Liew, principal, Plus Architecture; Karl Fu, partner for Asian Markets, Winning Commercial; Peter Li, general manager, Plus Agency; Richard Newling Ward, director, Bayleyward; and Steven Yu, founder and CEO, Valorton Group.

HLB Mann Judd – HLB Australasia supervised the selection process under the guidance of Josh Chye, partner and head of tax, helping to make the process fair, transparent, and credible.

Main country winners of the PropertyGuru Asia Property Awards (Australia) will be eligible to advance to the 18th PropertyGuru Asia Property Awards Grand Final on Friday, 8 December in Bangkok, Thailand where they will compete for honours against their peers from Singapore, Cambodia, Indonesia, Malaysia, Philippines, Thailand, and Vietnam, as well as India, Japan and China.

Organised by PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, the 6th PropertyGuru Asia Property Awards (Australia) are supported by silver sponsor Subzero Wolf; official magazine Property Report by PropertyGuru; official publicity partner Good Talent Media; media partners Australian Property Journal, Bridges, The Philippines Times (Australia), The Property Tribune, and Your Investment Property Magazine; supporting partner Realestate.com.au; supporting associations Australasia Property Advisory Association, Australia Malaysia Business Council – Victoria, and Melbourne Chinatown Association; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

COMPLETE LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES

6th PropertyGuru Asia Property Awards (Australia)

DEVELOPER AWARDS

Best Developer
WINNER: Aqualand

Best Lifestyle Developer
WINNER: Salvo
HIGHLY COMMENDED: Aqualand

Best Luxury Developer
WINNER: Aqualand

Best Luxury Boutique Developer
WINNER: Skyland Group

Best Mixed Use Developer
WINNER: Aqualand

Best Boutique Developer
WINNER: MRCB International
HIGHLY COMMENDED: BNG Group
HIGHLY COMMENDED: Mark Moran Group

Best Breakthrough Developer
WINNER: Luisant Queensberry Pty Ltd.

DEVELOPMENT AWARDS

Best Mixed Use Development
WINNER: Aura by Aqualand
HIGHLY COMMENDED: Blue at Lavender Bay by Aqualand

Best Luxury Apartment Development (New South Wales)
WINNER: Blue at Lavender Bay by Aqualand
HIGHLY COMMENDED: Aura by Aqualand

Best Boutique Luxury Apartment Development (New South Wales)
WINNER: Villia Bellevue Hill by Skyland Group

Best Luxury Low Rise Apartment Development (New South Wales)
WINNER: Kurraba Residences by Third.i Group

Best Luxury Apartment Development (Victoria)
WINNER: Como Terraces by Sterling Global & CBUS Property Pty Ltd

Best Apartment Development (New South Wales)
WINNER: Chapman Gardens by Chapman Garden NSW Pty Ltd

Best Apartment Development (Victoria)
WINNER: Highett Common by Sunkin Property Group
HIGHLY COMMENDED: Olea by BNG Group
HIGHLY COMMENDED: One Grant Crescent by Sunsuria Australia and Verdant Property Group
HIGHLY COMMENDED: Taylor by Eve Holdings & Guang Capital

Best High Rise Apartment Development (Victoria)
WINNER: Moray House by Salvo

Best Housing Development (Queensland)
WINNER: Bowen Terrace Residences by Skyhold

Best Townhouse Development (Victoria)
WINNER: Queensberry St by Luisant Queensberry Pty Ltd.

Best Townhouse Development (Queensland)
WINNER: Capri by Monaco Property Group

Best Luxury Lifestyle Development
WINNER: Aura by Aqualand

Best Lifestyle Development (Victoria)
WINNER: R.Iconic by R.Corporation
HIGHLY COMMENDED: One Grant Crescent by Sunsuria Australia and Verdant Property Group

Best Lifestyle Development (Queensland)
WINNER: 26 Vista by MRCB Australia

Best Heritage Development
WINNER: Coppin Lodge by Enduro Properties

Best Luxury Heritage Development
WINNER: The Revy at Darling Island by Aqualand

Best Waterfront Apartment Development
WINNER: The Revy at Darling Island by Aqualand

Best Waterfront Housing Development
WINNER: Amorel by Capital Luxury Residences

Best Eco Friendly Apartment Development
WINNER: Highett Common by Sunkin Property Group
HIGHLY COMMENDED: 26 Vista by MRCB Australia

Best Connectivity Townhouse Development
WINNER: Queensberry St by Luisant Queensberry Pty Ltd.

Best Smart Home Development
WINNER: Aura by Aqualand

Best Student Accommodation Development
WINNER: Waterford Student Accommodation by Exal Group

DESIGN AWARDS

Best Mixed Use Architectural Design
WINNER: Blue at Lavender Bay by Aqualand
HIGHLY COMMENDED: Aura by Aqualand

Best Apartment Architectural Design
WINNER: R.Iconic by R.Corporation
HIGHLY COMMENDED: One Grant Crescent by Axe Architects Pty Ltd

Best Luxury Apartment Architectural Design
WINNER: Aura by Aqualand

Best Mixed Use Interior Design
WINNER: Aura by Aqualand
HIGHLY COMMENDED: Blue at Lavender Bay by Aqualand

Best Luxury Apartment Interior Design
WINNER: Aura by Aqualand

Best Apartment Landscape Design
WINNER: Highett Common by Sunkin Property Group

Best Townhouse Landscape Design
WINNER: Queensberry St by Luisant Queensberry Pty Ltd.

Best Senior Living Landscape Design
WINNER: The Garden at Warrawee by Evette Moran – Mark Moran Group

BEST OF AUSTRALIA AWARDS

Best Condo Development (Australia)
WINNER: Kurraba Residences by Third.i Group

Best Housing Development (Australia)
WINNER: Capri by Monaco Property Group

SPECIAL AWARDS

Special Recognition in ESG
WINNER: Mark Moran Group

Special Recognition in Sustainable Design and Construction
WINNER: Mark Moran Group

PUBLISHER’S CHOICE

Australia Real Estate Personality of the Year
WINNER: Shangjin Lin, Founder and Group Managing Director, Aqualand

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading(1) PropTech company, and the preferred destination for over 37 million property seekers(2) to connect with almost 60,000 agents monthly(3) to find their dream home. PropertyGuru empowers property seekers with more than 2.9 million real estate listings(4), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Media & Partnerships:
Nate Dacua, Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sponsorships:
Kanittha Srithongsuk, Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: kanittha@propertyguru.com

Sales & Nominations:
Watcharaphon Chaisuk (Jeff), Solutions Manager
M: +66 95 797 0595
E: jeff@propertyguru.com

Lincotrade Delivers Strong Performance for FY2023 with Revenue Surging 78.0% to S$69.9 Million

SINGAPORE, Aug 30, 2023 – (ACN Newswire) – Lincotrade & Associates Holdings Limited, ("Lincotrade" or the "Company" and together with its subsidiaries, the "Group"), a specialist in interior fitting-out services, is pleased to announce its full year financial results ended 30 June 2023 ("FY2023"), following the completion of the reverse takeover ("RTO") of Fabchem China Limited on 3 August 2022.

Highlights:
– Excluding the one-off non-cash RTO-related expenses, the Group's profit before tax in FY2023 was S$2.8 Million, a year-on-year increase of 168.2%
– Strong performance from the Group's commercial and showflats business segments, which posted revenue growth of 58.7% and 357.3% respectively, propelled the Group's revenue growth in FY2023
– Generated net cash flow of approximately S$4.7 million from operations during FY2023
– Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased by 104.5% to approximately S$12.7 million as at 30 June 2023
– The Group's order book stood at approximately S$58.0 million as at 30 June 2023
– Aiming to expand its order book with a healthy pipeline of new projects, the Group expects the demand for its interior fitting-out services in 2023 to remain strong in view of the projections of Singapore's Building and Construction Authority ("BCA"), where the total construction demand in 2023 is projected to range between S$27 billion and S$32 billion

Commenting on its FY2023 results, Managing Director of Lincotrade, Mr. Tan Jit Meng said: "FY2023 marks a new milestone in Lincotrade's history as we completed our RTO and transition into a listed company in our corporate journey.

We look back on a strong first year of listing with good performance across the Group, both operationally and financially, which reflects our core competencies in project management and execution.

With diversity in our business model that has three different business categories, Lincotrade is well-positioned to continue our momentum of organic growth that aligns, and we aim to supplement that growth with a disciplined financial approach.

The positive outlook of Singapore's construction market reaffirms Lincotrade's positive trajectory and reinforces our belief in our ability to achieve a stronger growth profile ahead."

Propelled by higher revenue contribution from the Group's commercial and showflats business segments, the Group's revenue surged by approximately S$30.6 million or 78.0%, to approximately S$69.9 million in FY2023: Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations ("A&A") works and other building construction services primarily for three business segments, commercial, residential and showflats.

As part of the Group's strategic plans to increase revenue contribution from its commercial segment, the Group has been focused on securing more commercial projects in Singapore and as a result, there was a higher percentage of revenue contribution from some of the Group's larger commercial projects in FY2023. There was also increased revenue from larger showflats projects in FY2023 while majority of the Group's residential projects were substantially completed before 30 June 2022.

As a result, revenue contribution from the Group's commercial and showflats business segments increased by approximately S$17.9 million or 58.7% and approximately S$14.1 million or 357.3% respectively in FY2023.

Gross profit increased by approximately S$2.6 million or 55.0% in FY2023 to S$7.3 million despite lower gross profit margin: Corresponding to increased revenue growth in FY2023, the Group's gross profit increased to approximately S$7.3 million in FY2023. However, the Group's gross profit margin dipped 1.5 percentage points to 10.4% in FY2023 (FY2022: 11.9%), mainly due to higher proportion of revenue contribution from the showflats business segment, which registered lower gross margin in FY2023.

One-off non-cash RTO expenses of approximately S$10.8 million includes the deemed RTO expenses of approximately S$9.6 million, share-based payment to the Sponsor and Arranger of approximately S$1.2 million: With the completion of the RTO on 3 August 2022, the Group recognised the one-off non-cash RTO expenses in accordance with the Singapore Financial Reporting Standards (International) in FY2023.

Excluding the one-off non-cash RTO expenses, Lincotrade would have recorded an adjusted profit before tax of approximately S$2.8 million for FY2023, representing a growth of 168.2% as compared to FY2022.

Generated net cash of approximately S$4.7 million from operations during FY2023: The Group recorded operating cash flows before working capital changes of approximately S$3.5 million and net cash of approximately S$4.7 million generated from operating activities during FY2023.

During FY2023, the Group used net cash of approximately S$0.3 million in investing activities and there was net cash outflow of approximately S$0.6 million from financing activities.

Overall, the Group registered a net increase of approximately S$3.8 million in cash and cash equivalents during FY2023.

Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased 104.5% to approximately S$12.7 million as at 30 June 2023: The Group's total assets comprise non-current assets of approximately S$4.4 million and current assets of approximately S$30.6 million as at 30 June 2023.

The key components of non-current assets are property, plant and equipment of approximately S$1.4 million and non-current portion of trade and other receivables of approximately S$3.0 million. The key components of current assets are cash and cash equivalents of approximately S$12.7 million, contract assets of approximately S$5.3 million and current portion of trade and other receivables of approximately S$11.2 million.

As at end June 2023, the Group's total equity stood at approximately S$8.8 million and total liabilities amounted to approximately S$26.3 million, of which total non-current liabilities is approximately S$1.7 million and current liabilities is approximately S$24.6 million. The key components of current liabilities are trade and other payables of approximately S$11.7 million and other financial liabilities of approximately S$11.6 million.

Positive industry outlook in Singapore: According to a media release by BCA issued on 12 January 2023, it projects the total construction demand in 2023 (i.e. the value of construction contracts to be awarded) to range between S$27 billion and S$32 billion.

The public sector is expected to contribute about 60 per cent of the total construction demand, between S$16 billion and S$19 billion. Private sector construction demand is projected to be between S$11 billion and S$13 billion in 2023.

Over the medium-term, BCA expects the total construction demand to reach between $25 billion and $32 billion per year from 2024 to 2027. Private sector construction demand is projected to remain steady over the medium-term, reaching approximately S$11 billion to S$14 billion per annum from 2024 to 2027, in view of healthy investment commitments amid Singapore's strong economic fundamentals.

As at 30 June 2023, the Group's order book stood at approximately S$58.0 million which generally will be fulfilled during the next two years.

With an aim to expand its order book with a healthy pipeline of new projects, the Group continues to proactively tender for new projects in Singapore, particularly those that are larger in terms of scale and contract value. In January 2023, the Group secured an Asset Enhancement Initiative ("AEI") for an integrated development in Singapore with a contract value of approximately S$35.0 million, the largest single contract secured by the Group to date.

About Lincotrade

Established in 1991 and based in Singapore, Lincotrade has over 30 years of experience in the interior fitting-out industry and have established a proven business track record since its inception. Since 2006, Lincotrade has had its own in-house processing facility to process, assemble and manufacture Carpentry Products to support and complement its interior fitting-out services.

Lincotrade's interior fitting-out projects encompass space planning and lay-out, interior construction and finishing works on floorings, ceilings, partitions, doors, fixtures and fittings, mechanical, electrical and plumbing works such as air-conditioning installation, water and sewage fit-outs, lighting, power and other works. Lincotrade also provide A&A works include minor alterations, extension, conversion and upgrading of buildings as well as minor repair and improvement works. In addition, Lincotrade provide building construction services which mainly consist of the construction of showflats and sales galleries.

For more information, please visit http://www.lincotrade.com.sg.

Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Champion REIT Announces 2023 Interim Results

HONG KONG, Aug 18, 2023 – (ACN Newswire) – Champion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for the six months ended 30 June 2023.

(Left) Ms. Christina Hau, Chief Executive Officer & (Right) Ms. Amy Luk, Investment and Investor Relations Director

Ms. Christina Hau, Chief Executive Officer

Overview
The full reopening with mainland China and a new round of the government's Consumption Voucher Scheme helped revive the Hong Kong retail market in the first half of 2023. While a return of tourists boosted the footfall and tenants' sales, the number of arrivals was still below pre-pandemic levels. The Hong Kong office market remained challenging in the first half due to geopolitical tensions and a softening global economy. Results of the Trust continued to be impacted by the leases committed during the pandemic and the increase in interest expense during the reporting period. Distributable income dropped 12.3% to HK$ 617 million (2022: HK$704 million) and distribution per unit ("DPU") dropped by 12.6% to HK$0.0927 (2022: HK$0.1061).

Three Garden Road
The occupancy of Three Garden Road was relatively stable in the first half of 2023 and an anchor tenant in the financial sector expanded its operations in Three Garden Road. Occupancy of the property was 82.2% as at 30 June 2023. Total rental income of the property lowered to HK$627 million (2022: HK$689 million).

Langham Place Office Tower
Rental income slightly decreased to HK$174 million (2022: HK$181 million). Occupancy of the property remained stable at 93.2% as at 30 June 2023. Lifestyle tenants remained the major segment of the property, representing 73% of the tenants mix as at 30 June 2023.

Langham Place Mall
The recovery of tourist spending and growth in domestic consumption delivered a remarkable growth of 66.3% in tenants' sales of Langham Place Mall, outperforming the overall Hong Kong retail sales which increased by 20.7% in the first six months of 2023. The substantial above-market performance of the mall was largely attributable to the considerable growth in the beauty sector. Although occupancy of the property receded to 95.0% as at 30 June 2023 due to the time gap in tenant turnover, all the unoccupied areas had been committed. The total rental income of the mall grew 12.3% to HK$366 million (2022: HK$326 million).

Distribution
Distributable income of the Trust dropped 12.3% to HK$617 million (2022: HK$704 million) and DPU dropped by 12.6% to HK$0.0927 (2022: HK$0.1061). Based on the closing unit price of HK$2.84 recorded as at 30 June 2023, the total DPU represented a distribution yield of 6.5%.

Asset Value
The appraised value of the Trust's property portfolio was HK$63.1 billion as at 30 June 2023, declining 0.7% from HK$63.6 billion as at 31 December 2022.

Sustainability
We made significant progress towards our 2030 Environmental, Social, and Governance ("ESG") targets and 2045 Net Zero Commitment. In addition to pursuing international green building standards, we also step up our sustainability efforts by adding more electric vehicle charging stations. Our inaugural ESG Forum provided opportunities for exchange among our stakeholders to facilitate a greener transition. We also launched the innovative Green Champion Challenge to encourage tenants' involvement in combating climate risks. Other wellness events include International Women's Day celebration, Love Play Farm project and Musica del Cuore musical concerts. Furthermore, we have arranged a total of HK$1,000 million of sustainability-linked credit facilities during the reporting period.

Outlook
The growth momentum for retail sales may slow down a bit in the remaining part of this year following a strong rebound in the first half, because of the relatively higher base in the second half of last year. We stay cautiously optimistic of the retail market outlook as the number of tourists picked up gradually. On the other hand, we remain cautious on the outlook for Central office in view of the rising availability in the district and uncertainties in the global economy. Retaining tenants and occupancy will remain a priority for the property.

The overall operating environment of the Trust will remain challenging under the uncertain global economic situations. Facing the high interest rate environment, we will look for an optimal market window to increase the fixed rate portion. We will continue to look for opportunities in a prudent manner for the long-term growth of the Trust.

About Champion REIT (stock code: 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. Since 2015, the Trust has been included in the Constituent of Hang Seng Corporate Sustainability Benchmark Index of Hang Seng Indexes.
Website: www.championreit.com

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