Tag: Real Estate & REIT

The best of the best real estate developers, projects prevail at 17th PropertyGuru Asia Property Awards Grand Final

BANGKOK, THAILAND, Dec 10, 2022 – (ACN Newswire) – PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, today announced the regional winners representing the Best in Asia at the 17th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Leading Real Estate Companies of the World.


— New World Development Company Limited is hailed Best Developer (Asia) in one of two regional wins for companies from China (Hong Kong and Macau)
— Companies from Thailand and the Philippines each garner seven regional wins
— Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, receives the PropertyGuru Icon award

Also known as the finale of the 2022 PropertyGuru Asia Property Awards series, the Grand Final was presented in 48 categories at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

New World Development Company Limited garnered the award of Best Developer (Asia), representing China (Hong Kong and Macau). Along with the design practice Lead8, the company also received the Best Mega Mixed Use Development (Asia) award for 11 SKIES.

Representing Mainland China, Lead8 additionally won the Best Retail Architectural Design (Asia) award for Shougang Park Urban Weaving District. Benoy Limited won Best Mixed Use Architectural Design (Asia) for CRL MixC Qianhai in another regional win for Mainland China.

The Philippines garnered seven regional wins, led by the Best Industrial Developer (Asia) title for Aboitiz InfraCapital Economic Estates and Best Lifestyle Developer (Asia) title for Global-Estate Resorts, Inc. (GERI). Aboitiz InfraCapital Economic Estates also won the honours of Best Industrial Development (Asia) and Best Green Development (Asia) for LIMA Estate.

AppleOne Mactan, Inc. also won Best Branded Residential Development (Asia) for The Residences at Sheraton Cebu Mactan Resort while Cebu Landmasters, Inc. won Best Hospitality Architectural Design (Asia) for Sofitel Cebu City. Arquitectonica was honoured with the Best Office Architectural Design (Asia) award for Mega Tower.

Thailand also gained seven regional wins, including the Best Landmark Mixed Use Development (Asia) award for One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT). Magnolia Quality Development Corporation Limited won both the Best Condo Development (Asia) and Best Health and Wellness Development (Asia) awards for The Aspen Tree at The Forestias. PMT Property Co., Ltd. earned the titles of Best Condo Interior Design (Asia) and Best Condo Landscape Architectural Design (Asia) for 125 Sathorn. Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL was named Best Waterfront Housing/Landed Development (Asia) while Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. won Best Housing/Landed Landscape Architectural Design (Asia).

Singapore scored six regional wins at the Grand Final. GuocoLand was named Best Luxury Developer (Asia) and Best Sustainable Developer (Asia) while UOL Group Limited was named Best Hospitality Developer (Asia). UOL Group Limited also won Best Hotel Development (Asia) for Pan Pacific Orchard.

Park Nova by Shun Tak Holdings gained the Best Condo Architectural Design (Asia) title while Artyzen Singapore by Artyzen Hospitality Group won Best Hospitality Interior Design (Asia).

Indonesia was also represented with six regional wins that include the Best Township Development (Asia)
award for Kota Baru Parahyangan by PT. Belaputera Intiland and Best Township Masterplan Design (Asia) award for PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group.

Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group, won Best Office Development (Asia) while LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. won Best Connectivity Condo Development (Asia). Metland Cibitung by PT Fajarputera Dinasti, a subsidiary of PT Metropolitan Land Tbk., won Best Connectivity Housing/Landed Development (Asia) while LOGOS Cikarang Logistics Park by LOGOS Indonesia was named Best Green Industrial Development (Asia).

Australia scored five regional wins, including the Best Boutique Developer (Asia) title for Spacious Group. SPG Land won both the Best Smart Building Development (Asia) and Best Integrated Work From Home Development (Asia) titles for Paradiso Place. Dare Property Group won Best Eco Friendly Commercial Development (Asia) for Zero Gipps and Mayrin Group won Best Housing/Landed Architectural Design (Asia) for The Archwood Residences.

Vietnam scored four regional wins, including the Best Mixed Use Developer (Asia) title for Keppel Land. Sycamore by CapitaLand Development (Vietnam) won the Best Housing/Landed Development (Asia) and Best Eco Friendly Housing/Landed Development (Asia) awards. Artisan Park by Gamuda Land was named Best Retail Development (Asia).

From Greater Niseko, Andaru Collection Niseko by Blue Waves Group clinched both Best Completed Housing/Landed Development (Asia) and Best Housing/Landed Interior Design (Asia) awards. HakuVillas by H2 Group won the Best Completed Condo Development (Asia) award.

Cambodia and Malaysia each earned two regional wins. The Best Breakthrough Developer (Asia) award went to Kambujaya Development Co., Ltd, with the Best Waterfront Condo Development (Asia) title going to Vue Aston by The Peninsula Capital Co., Ltd. KL Wellness City by KL Wellness City Sdn Bhd was named Best Mixed Use Development (Asia), with Infinity8 Reserve JBCC by Infinity Group winning Best Co-Working Space (Asia).

India was also represented at the Grand Final with Embassy REIT winning Best Commercial Landscape Architectural Design (Asia) for Embassy TechVillage – Central Garden.

Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, received the PropertyGuru Icon Award. Ciputra, previously named the Indonesia Real Estate Personality of the Year in 2015, received the award for a lifetime of real estate achievements covering developments in more than 40 cities across the archipelago.

The regional winners at the Grand Final were selected from the elite pool of country winners from PropertyGuru Asia Property Awards' series of celebrations this year in Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, the Philippines, Mainland China, Hong Kong, Macau, Greater Niseko (Japan), India, and Australia.

Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: "The Awards remain among our widest-reaching enterprise solutions, having expanded over the years to represent some of the world's most dynamic property markets from Southeast Asia to Australia. With these award-winning developers and designers as benchmarks, we hope to guide property seekers towards finding, financing and owning the right properties. In this, the 17th edition of the PropertyGuru Asia Property Awards Grand Final, we elevate not only the region's dream homes but also its finest, most sustainable live-work-play developments, workspaces, retail hubs, hotels, resorts, and industrial parks, among others, to an international platform. Whether you're seeking, selling or building property, we will see you home."

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: "The winners of the PropertyGuru Asia Property Awards Grand Final aptly represent the diversity, progress, and resilience of their respective property markets. With projects ranging from boutique residential developments to vast integrated districts, these award-winning developments offer an impressive snapshot of what the Best in Asia looks like. Whether celebrated onstage at our gala events, or presented to the world online, these awardees shine bright as the Gold Standard of Asian real estate, keeping true to our vision of building the region's Property Trust Platform. To all the winners announced at our regional Grand Final – we celebrate your success. Congratulations."

The latest edition of the Grand Final marked the full return of the black-tie gala dinner and awards presentation, following a successful virtual gala edition in 2021. The 2022 Grand Final was streamed live on AsiaPropertyAwards.com as well as the programme's official Facebook and YouTube channels.

The list of winners at the Grand Final was selected by an independent jury consisting of head judges of participating markets in the Awards: Thien Duong, chairperson of the Grand Final and general director, Group GSA (Vietnam); Amit Khanna, managing director, Phoenix Advisers (India); Bill Barnett, founder and managing director, C9 Hotelworks (Greater Niseko); Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc. (Philippines); Dato' Sr. Lau Wai Seang, president, Royal Institution of Surveyors Malaysia (RISM): 2017-2018 (Malaysia); Kristin Thorsteins, head of partnership growth for APAC at IWG PLC (Singapore); Lui Violanti, regional manager for Western Australia, Inhabit Group (Australia); Paul Tse, president, board of directors, Macao Association of Building Contractors and Developers (Mainland China, Hong Kong and Macau); Sorn Seap, executive vice president, Cambodian Valuers and Estate Agents Association (Cambodia); Suphin Mechuchep, chairperson, JLL Thailand (Thailand); and Vivin Harsanto, senior director and head of advisory, JLL Indonesia (Indonesia).

HLB, the leading international accounting and advisory firm, upheld fairness, transparency and credibility throughout all points of the selection process, under the leadership of Paul Ashburn, HLB International Real Estate Group.

Since it was established in Thailand in 2005, the PropertyGuru Asia Property Awards programme has expanded over the years to 18 property markets. Through its series of in-person and virtual gala celebrations, the PropertyGuru Asia Property Awards programme has provided an international platform for excellent real estate developers, architects, and interior designers across Asia Pacific. The programme therefore connects awardees to a wide pool of investors, consumers, and agents, as well as the diaspora, throughout the region and beyond.

Organised by PropertyGuru Group (NYSE: PGRU), the 17th PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Kohler; gold sponsor Leading Real Estate Companies of the World; official portal partner PropertyGuru; official channel partner History; official magazine Property Report by PropertyGuru; official PR partner Artemis Associates; media partners BusinessWorld, Construction & Property, d+a Magazine, Daily FT, Deluxe Magazine, Discover Pattaya, Esquire PH, Hot Magazine, Housing.com, Kompas, Kopiandpropetry.com, Luxuo, Manila Bulletin, Mingtiandi, Palace, Pattaya Trader, Penang Property Talk, People Asia Magazine, PhilStar PropertyReport PH, Powderlife, Real Estate News PH, Real Living, Rem, Robb Report, Southeast Asia Globe, Suara Indonesia, The Grid, The Hindu, The Manila Times, Think of Living, Top 10 of Malaysia, Vietnam Heritage, WhenInManila.com, Yacht Style, and Your Investment Property; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; supporting partners IFC – Building Resilience Index, IFC – Excellence in Design for Greater Efficiencies, and REHDA Institute; supporting associations EuroCham Cambodia, Global Design Awards Lab, Green Building Consulting & Engineering, Niseko Tourism, Singapore Estate Agents Association, and Singapore Green Building Council; and official supervisor HLB.

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

LIST OF REGIONAL AND COUNTRY WINNERS
17th PropertyGuru Asia Property Awards Grand Final

DEVELOPER AWARDS

Best Developer (Asia)
Agung Sedayu Group – Indonesia
Auriton Group – Australia
New World Development Company Limited – China – Hong Kong and Macau (REGIONAL WINNER)
Prince Real Estate Group – Cambodia
Robinsons Land – Philippines
UOL Group Limited – Singapore

Best Luxury Developer (Asia)
GuocoLand – Singapore (REGIONAL WINNER)
SonKim Land Corporation – Vietnam

Best Industrial Developer (Asia)
Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)
PT LOGOS SEA Indonesia – Indonesia

Best Mixed Use Developer (Asia)
GuocoLand – Singapore
Keppel Land – Vietnam (REGIONAL WINNER)
Megaworld Corporation – Philippines
Prince Real Estate Group – Cambodia

Best Hospitality Developer (Asia)
Megaworld Corporation – Philippines
UOL Group Limited – Singapore (REGIONAL WINNER)

Best Lifestyle Developer (Asia)
Aurum Land (Private) Limited – Singapore
Casagrand Builder Pvt. Ltd. – India
Global-Estate Resorts,Inc. (GERI) – Philippines (REGIONAL WINNER)

Best Sustainable Developer (Asia)
GuocoLand – Singapore (REGIONAL WINNER)
PT. Bumi Serpong Damai – Indonesia
PT LOGOS SEA Indonesia – Indonesia

Best Boutique Developer (Asia)
Aurum Land (Private) Limited – Singapore
PT. Bumi Parama Wisesa (NavaPark) Hongkong Land & Sinar Mas Land Joint Venture – Indonesia
Spacious Group – Australia (REGIONAL WINNER)

Best Breakthrough Developer (Asia)
Kambujaya Development Co., Ltd – Cambodia (REGIONAL WINNER)

DEVELOPMENT AWARDS

Best Township Development (Asia)
Bridgetowne Destination Estate by Robinsons Land – Philippines
Correctio by PT. Jababeka Tbk – Indonesia
Kota Baru Parahyangan by PT. Belaputera Intiland – Indonesia (REGIONAL WINNER)
Meyhomes Capital Phu Quoc by Tan A Dai Thanh – Meyland – Vietnam

Best Mega Mixed Use Development (Asia)
11 SKIES by Lead8 & New World Development Company Limited – China – Hong Kong and Macau (REGIONAL WINNER)

Best Landmark Mixed Use Development (Asia)
One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) – Thailand (REGIONAL WINNER)

Best Mixed Use Development (Asia)
Baker Circle by Henderson Land Development Company Limited – China – Hong Kong and Macau
Balfour Place by Thirdi Group – Australia
Embassy Manyata Front Parcel Development by Embassy REIT – India
Heartland 66 by Hang Lung Properties – Mainland China
KL Wellness City by KL Wellness City Sdn Bhd – Malaysia (REGIONAL WINNER)
Melbourne Square by OSK Property – Australia
Prince International Plaza by Prince Real Estate Group – Cambodia
Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia

Best Industrial Development (Asia)
FoodFab @ Mandai by Mandai 7 JV Pte Ltd – Singapore
GIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation – Indonesia
LIMA Estate by Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)

Best Hotel Development (Asia)
Pan Pacific Orchard by UOL Group Limited – Singapore (REGIONAL WINNER)
Park Hyatt Niseko Hanazono and Hanazono Resort Niseko by Nihon Harmony Resorts KK and PCPD – Greater Niseko

Best Retail Development (Asia)
Artisan Park by Gamuda Land – Vietnam (REGIONAL WINNER)
Batavia PIK by Agung Sedayu Group & Salim Group, curated by Amantara – Indonesia

Best Office Development (Asia)
888 Lai Chi Kok Road (NCB Innovation Centre) by New World Development Company Limited – China – Hong Kong and Macau
Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia (REGIONAL WINNER)
Cloud Land, Hangzhou by Greentown China Holdings Limited – Mainland China
Frasers Tower by Frasers Property Singapore – Singapore
Hudson & Ganges Office Towers, Embassy TechZone by Embassy REIT – India
Knowledge Hub @Digital Hub by Sinar Mas Land – Indonesia
One Bangkok Office Tower 4 by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) – Thailand

Best Branded Residential Development (Asia)
The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines (REGIONAL WINNER)

Best Condo Development (Asia)
Forbes Residences, Applecross by Mustera Property Group Ltd – Australia
Hinode Hills by Niseko Village – Greater Niseko
Kincang Egrets Waves 3.0 Residential by LYCS Architecture – Mainland China
Le Parc at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia
Meyer Mansion by GuocoLand – Singapore
One Innovale by Henderson Land Development Company Limited – China – Hong Kong and Macau
Parc3 by Eupe Corporation Berhad – Malaysia
Piramal Aranya by Piramal Realty – India
The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited – Thailand (REGIONAL WINNER)
The Seasons Residences by Sunshine Fort North Bonifacio Realty Development Corporation – Philippines
Vue Aston by The Peninsula Capital Co., Ltd. – Cambodia

Best Waterfront Condo Development (Asia)
Costa Mira Beachtown Mactan by Cebu Landmasters, Inc. – Philippines
Lee Nam Road 66 by Logan Group Company Limited & KWG Group Holdings – China – Hong Kong and Macau
Meyer Mansion by GuocoLand – Singapore
Paradiso Place by SPG Land – Australia
Sunteck Beach Residences (SBR) by Sunteck Realty Limited – India
Vue Aston by The Peninsula Capital Co., Ltd. – Cambodia (REGIONAL WINNER)

Best Connectivity Condo Development (Asia)
LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. – Indonesia (REGIONAL WINNER)

Best Completed Condo Development (Asia)
HakuVillas by H2 Group – Greater Niseko (REGIONAL WINNER)

Best Health and Wellness Development (Asia)
Forbes Estates Lipa by Robinsons Land – Philippines
Mark Moran Warrawee by Mark Moran Group – Australia
The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited – Thailand (REGIONAL WINNER)

Best Smart Building Development (Asia)
Paradiso Place by SPG Land – Australia (REGIONAL WINNER)

Best Housing/Landed Development (Asia)
Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) – Singapore
Enchante Residence @BSD City by Sinar Mas Land – Indonesia
Guangzhou Nansha Amber Living by Zhuhai Huafa Properties Co., Ltd. – Mainland China
Sycamore by CapitaLand Development (Vietnam) – Vietnam (REGIONAL WINNER)
The Archwood Residences by Mayrin Group – Australia

Best Waterfront Housing/Landed Development (Asia)
Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL – Thailand (REGIONAL WINNER)
The Residences III at The Glades, Putra Heights by Sime Darby Property – Malaysia

Best Connectivity Housing/Landed Development (Asia)
Metland Cibitung by PT Fajarputera Dinasti a subsidiary of PT Metropolitan Land Tbk. – Indonesia (REGIONAL WINNER)

Best Completed Housing/Landed Development (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko (REGIONAL WINNER)

Best Integrated Work From Home Development (Asia)
Paradiso Place by SPG Land – Australia (REGIONAL WINNER)
Pisonia Ville by UDA Holdings Berhad – Malaysia

Best Green Development (Asia)
LIMA Estate by Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)

Best Green Industrial Development (Asia)
LOGOS Cikarang Logistics Park by LOGOS Indonesia – Indonesia (REGIONAL WINNER)

Best Eco Friendly Housing/Landed Development (Asia)
Sycamore by CapitaLand Development (Vietnam) – Vietnam (REGIONAL WINNER)

Best Eco Friendly Commercial Development (Asia)
Site of the Future – Acienda Silang by Pilipinas Shell Petroleum Corporation – Philippines
Zero Gipps by Dare Property Group – Australia (REGIONAL WINNER)

DESIGN AWARDS

Best Township Masterplan Design (Asia)
Bridgetowne Destination Estate by Robinsons Land – Philippines
PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group – Indonesia (REGIONAL WINNER)

Best Mixed Use Architectural Design (Asia)
11 SKIES by Lead8 – China – Hong Kong and Macau
CRL MixC Qianhai by Benoy Limited – Mainland China (REGIONAL WINNER)
Yoho Treasure Island Resorts World Hotel, Macau by Huarchi Global Design Corporation Ltd & Treasure Island Entertainment Company Ltd – China – Hong Kong and Macau

Best Condo Architectural Design (Asia)
AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company – Singapore
Meyer Mansion by GuocoLand – Singapore
One East @ Damansara by CK East Group – Malaysia
Paradiso Place by SPG Land – Australia
Park Nova by Shun Tak Holdings – Singapore (REGIONAL WINNER)
Railway Leisure Town by HZS Design (Shanghai) Ltd. – Mainland China
Reference Sathorn – Wongwianyai by SC Asset – Thailand
The Commodore by JBE Holdings Pte Ltd – Singapore
The East Village at DGT by Cebu Landmasters, Inc. – Philippines
Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. – Thailand

Best Housing/Landed Architectural Design (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko
Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL – Thailand
Mazenta Residence by PT Cipta Harmoni Lestari – Indonesia
Seri Austin Heights by Aksi Sepakat Sdn Bhd – Malaysia
The Archwood Residences by Mayrin Group – Australia (REGIONAL WINNER)
The Valley by Botanica Luxury Villas – Thailand
Venue ID Motorway Rama 9 by SC Asset – Thailand

Best Hospitality Architectural Design (Asia)
Artyzen Singapore by Artyzen Hospitality Group – Singapore
Shiguchi by Kookan – Greater Niseko
Sofitel Cebu City by Cebu Landmasters, Inc. – Philippines (REGIONAL WINNER)

Best Retail Architectural Design (Asia)
Pantjoran PIK by Agung Sedayu Group & Salim Group, curated by Amantara – Indonesia
Shougang Park Urban Weaving District by Lead8 – Mainland China (REGIONAL WINNER)

Best Office Architectural Design (Asia)
Embassy Oxygen, Tower-1 by Embassy REIT – India
Mega Tower by Arquitectonica – Philippines (REGIONAL WINNER)
One Bedford Place by Lofter Group Limited – China – Hong Kong and Macau

Best Condo Interior Design (Asia)
125 Sathorn by PMT Property Co., Ltd. – Thailand (REGIONAL WINNER)
Liv @ MB by Bukit Sembawang Estates Limited – Singapore
Orchard Sophia by Orchard Sophia Pte Ltd – Singapore
Paradiso Place by SPG Land – Australia
Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd – Singapore
The Commodore by JBE Holdings Pte Ltd – Singapore
The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines

Best Housing/Landed Interior Design (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko (REGIONAL WINNER)
Kambujaya Residences by Kambujaya Development Co., Ltd – Cambodia
Mazenta Residence by PT Cipta Harmoni Lestari – Indonesia
The Archwood Residences by Mayrin Group – Australia

Best Hospitality Interior Design (Asia)
Artyzen Singapore by Artyzen Hospitality Group – Singapore (REGIONAL WINNER)
Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines
Shiguchi by Kookan – Greater Niseko

Best Condo Landscape Architectural Design (Asia)
125 Sathorn by PMT Property Co., Ltd. – Thailand (REGIONAL WINNER)
AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company – Singapore
Park Nova by Shun Tak Holdings – Singapore
Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. – Thailand

Best Housing/Landed Landscape Architectural Design (Asia)
Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. – Thailand (REGIONAL WINNER)
Meysenses Lucia Bay Bai Lu by Tan A Dai Thanh – Meyland – Vietnam

Best Commercial Landscape Architectural Design (Asia)
Embassy TechVillage – Central Garden by Embassy REIT – India (REGIONAL WINNER)

Best Co-Working Space (Asia)
Infinity8 Reserve JBCC by Infinity Group – Malaysia (REGIONAL WINNER)
work.able Exxa-Zeta Center by Robinsons Land – Philippines

PUBLISHER'S CHOICE

PropertyGuru Icon Award
WINNER: Candra Ciputra
CEO, Ciputra Group
President Director, PT Ciputra Development Tbk

NOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.

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

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

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

Sales & Nominations:
Udomluk Suwan
Sales Director
M: +66 87 699 4433
E: may@propertyguru.com

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 2022, 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 2022.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:
PropertyGuru is Southeast Asia's leading1 PropTech company, and the preferred destination for over 44 million property seekers7 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon) to find their dream home, every month. PropertyGuru empowers property seekers with more than 3.5 million real estate listings8 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon), 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 of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance (https://www.propertyguru.com.sg/mortgage/home-loan); and a host of enterprise solutions now under PropertyGuru For Business (https://www.propertyguruforbusiness.com/), including a high-quality developer sales enablement platform, FastKey (https://www.propertyguruforbusiness.com/fastkey), DataSense (https://www.propertyguruforbusiness.com/datasense), ValueNet (https://www.propertyguruforbusiness.com/real-estate-valuers), Awards (https://www.asiapropertyawards.com/en/), events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn (https://www.linkedin.com/company/propertyguru).
1. Based on SimilarWeb data between April 2022 and September 2022.
2. The third quarter and first nine months ended September 30, 2022 includes results of the iProperty Malaysia and thinkofliving businesses which were acquired on August 3, 2021.
3. Included in the S$13.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2022 was a S$4.9 million depreciation and amortization expense.
4. Included in the S$8.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2021 were a S$3.9 million depreciation and amortization expense and a S$3.0 million net finance expense.
5. Based on SimilarWeb data between April 2022 and September 2022.
6. Does not include impact of Sendhelper acquisition in October 2022.
7. Based on Google Analytics data between April 2022 and September 2022.
8. Based on data between April 2022 and September 2022.


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AssetWise PCL (SET: ASW) continues partnership with Japan property giant Takara Leben

BANGKOK, Nov 30, 2022 – (ACN Newswire) – AssetWise PCL (SET: ASW), a leading real estate developer for lifestyle with the 'We Build Happiness' concept, announced its continued partnership with Japanese real estate giant Takara Leben to co-develop Kave Seed Kaset, a new campus condominium project valued at 1.35 billion baht on a high potential location along the commuter train route near Kasetsart University.



This development is testament to the confidence in the capabilities of AssetWise and in the project, combining Takata Lebun's credentials and expertise in the development of real estate projects with ASW's strength in meeting lifestyle needs through the creation of projects that fulfill the housing demand of Gen Z while providing good returns for investors.

Mr. Kromchet Vipanpong, Chief Executive Officer of AssetWise PCL, said that the Company continues to expand its business. The latest development being a joint venture agreement with Takara Leben, one of Japan's leading real estate developers coinvesting in the new condominium project, with AssetWise holding a 51 percent share and Takara Leben holding the remaining 49 percent to develop the Kave Seed Kaset campus condominium.

This project is a 600-unit condominium classified into 1-2-bedroom units with usable spaces of 22 to 47 square meters and starting prices of 1.89 million baht. The 1.35-billion-baht development is located in Soi Phaholyothin 34 near Kasetsart University, strikingly designed, modern and distinctive. ASW brings its experience as a lifestyle leader to the project, with more than 30 features in an expansive common area, meeting the demands of both students and office workers. This blends with Takara Leben's experience in project development to ensure the Kave Seed Kaset condominium completely meets the lifestyle needs of the new generation.

This joint venture with Takara Leben is their second co-developed condominium project after having jointly invested in a development in the Bangna area, pushing their co-developed projects to over 3,550 million baht. Notably, the KAVE brand campus condominiums have performed well due to clear market positioning aimed at Gen Z that perfectly matches the market demand, resulting in a strong response from members of the new generation and real estate investors.

"This joint venture with Takara Leben reinforces our partner's confidence in ASW's potential as the nation's leading lifestyle-focused property developer, along with our similar outlook regarding project development with the focus on creating happiness for our residents, as well as the Company's vision on business operations, that contains both expertise and understanding of market demand. The investment also reflects the strength of the KAVE brand, and its high potential. The Kave Seed Kaset project is located in an ideal location, and it is expected to generate good yield for real estate investors. Currently, sales for over 40 percent of the project value have been completed" Mr. Kromchet said.

Mr. Hiroshi Iwamoto, Director of Takara Leben Company Limited, explained Takara Leben was listed on the Japanese Stock Exchange (3492.T), and has a total revenue of 162,740 million yen, or approximately 41,631 million baht (as of March 2022). It has extensive experience in real estate development with over 500 projects under the brands Leben, The Leben, Nebel and Leben Platz. Moreover, the Company also has a power plant business and hotels in Japan. Currently, Takara Leben is expanding its real estate investment into the ASEAN region such as Thailand, Vietnam, etc.

"We recognize that the real estate business trend in Thailand has a great potential for growth, especially the condominium projects along commuter train lines and near educational institutions. With that in mind, the Company has decided to jointly invest with ASW to develop this second condominium project, to build on the success of our first jointly developed project in the Bangna area. We see ASW as a modern property developer that is determined to improve the quality of living to meet every lifestyle needs for every generation, which is in line with our vision," said Mr. Iwamoto.

In this regard, ASW operates a real estate development business by focusing on the development of high-rise and horizontal housing projects in high potential locations under the "We Build Happiness" Concept. Currently, more than 45 condominiums and housing projects have been developed by group brands, all designed to create happiness and to suit every lifestyle. These brands include KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR. All the projects are valued at a total of more than 48,050 million baht, comprising 33 completed and ready-to-move-in projects, and 12 projects that are open for sale and under development. As of today, backlog awaiting realization of revenue has a total value of more than 9,218 million baht.

Visit https://assetwise.co.th, [SET: ASW][SET: ASW/F][SET: ASW-R].

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Strong profile bodes well for PRI’s entry on the MAI (SET) today

BANGKOK, Nov 30, 2022 – (ACN Newswire) – Primo Service Solutions PCL (SET: PRI) debuts on the Market for Alternative Investment (MAI) today (30 Nov) by highlighting its outstanding provision of comprehensive real estate-related services.


PRI's business covers wide-ranging services to property developers and retail customers, while it is mapping out strategies to create new services to meet all living needs. The company also focuses on expanding investments in existing businesses and developing technology to boost service efficiency.

PRI recorded 156.02 million baht in net profit for the first nine months of this year, representing an increase of 128.17% from the same period last year.

Jatuporn Wilaikaew, Chief Executive Officer of PRI, is optimistic that PRI shares would be warmly received on the first trading day on the Stock Exchange of Thailand (SET). Her optimism is fuelled by PRI's strong fundamentals as a leading provider of comprehensive real estate-related services, before and after moving in, and after the sale of the property.

PRI's services are propelled by the adoption of modern technology with the PRIMO Plus application developed to connect and provide services to customers.

The company has also leveraged on customer bases from the Origin Property PCL and general customers which entered into long-term and occasional service contracts with PRI.

Those factors help securing revenue, generating continuous growth, and elevating the company as the leader in complete real estate solution provision with sustainable growth as planned.

The company's services come in three main business groups:
1. Pre-Living Services including consulting and construction supervision, architectural design services, structural engineering, and building systems.

2. Real estate management business (Living Services) such as juristic person management for condominiums, housing estates, and office buildings; real estate brokerage services, real estate management services for long-term rental, among others.

3. Real estate after-sales service business (Living & Earning Services) like home interior design and decoration services for condominiums and common areas of real estate projects; cleaning services for houses and common areas of real estates, office buildings, and factories; mechanic and haulage services

The company has a strategy to offer more diverse services to meet every living need in every rhythm of life under the slogan of 'At Your Service, Every Moment' and become the first brand of choice when it comes to services related to real estate.

The company is also planning to expand investments in businesses related to its core lines as a means to increase potential and strength in operations.

PRI is studying the possibility of expanding the business, giving importance to investment in technology development to increase convenience, speed, and efficiency in reaching target customers and better responding to customer needs.

PRI saw its revenues rising consistently over the past three years, from 255.69 million baht in 2019 to 266.51 million baht in 2020 before jumping to 489.56 million baht in 2021 – an average annual growth rate of 30.48%.

Likewise, its net profit rose from 34.52 million baht in 2019 to 40.05 million baht in 2020 and 111.25 million baht in 2021, an average growth of 74.09% per year.

For the first nine months of this year, PRI's revenue soared by 95.92% from the same period last year to 604.26 million baht, while net profit leaped 128.17% to 156.02 million baht. This was due to the continued strong performance of its three business lines.

The return on assets (ROA) for the first nine months of this year was 61.62% and the return on equity (ROE) was 81.20%.

Prasert Tantayawit, Managing Director of Asia Plus Advisory Co., Ltd. which serves as the financial adviser for PRI, noted that PRI is blessed with strong fundamentals with more than 11 years of experience in the business.

The company possesses a variety of strengths particularly being the first to provide a full range of real estate-related services, from start to finish, for developers of real estate projects and meeting the residential needs of retail customers.

That gives PRI competitive advantages and being able to differentiate itself from other players.

PRI has a customer base of real estate projects and retail customers of Origin Property, its parent firm which is one of the country's leading real estate developers and provides services to property projects and retail customers in general.

Moreover, its provision of a long-term service contract for customers has ensured a steady flow of revenue.

PRI's business operations will benefit from the overall recovery of the real estate business, the launch of many new projects, and the lifestyle of today's residents who want more convenience.

By listing on the MAI will allow funds for PRI to expand the current forms of business and technology development and for use as working capital, he added.

Yodrudee Santatikul, Executive Director of Asia Plus Securities Co., Ltd. which acts as the underwriter of IPR, said the IPR's initial public offering has been enthusiastically received by investors with the number of subscriptions surpassing the allotment.

As a result, the IPO price was closed at 15 baht per share, totaling 80 million shares, or 25% of the total issued and paid-up ordinary shares of the company.

The offering of newly issued ordinary shares was according to the target with a security value at the IPO price of 4,800 million baht.

PRI possesses good potential with outstanding growth performance for it being able to extensive services that meet the needs of customers which are real estate developers and retail customers in a one-stop service provision.

The continuation of its business expansion would also make PRI shares an investment of choice, she concluded.

For more information, visit https://primo.co.th [SET: PRI] [SET: PRI/F] [SET: PRI-R]
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Hektar REIT’s ESG Commitment Rewarded with Two Awards

KUALA LUMPUR, Nov 29, 2022 – (ACN Newswire) – Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (Hektar REIT), Malaysia's first retail-focused REIT, is pleased to announce that Hektar REIT is the proud recipient of two Silver awards at the inaugural of The Edge Malaysia ESG Awards 2022: Most Improved Performance Award Over Three Years (for Market Cap below RM300M) and Property & REIT Sector Award.
Muhammad Bakhtiar Ul Haq, Assistant Manager, IR, ESG & Special Projects of Hektar Asset Management; Mohd Zaharim bin Mohd Yatim, Senior Manager, Special Projects of Hektar Property Services; Syairul Irwan Rased, Assistant GM, Business Strategy, Martin Chen, GM, Legal, Zarina Halim, CCO, Johari Shukri bin Jamil, CEO and Lim Kek Siang, Senior GM, Finance of Hektar Asset Management and Sanggat Singh, Senior Manager, Group Facilities Management of Hektar Property Services [L-R]

The Edge Malaysia editor-in-chief Kathy Fong; Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift; Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn Bhd; Helena Fung, the head of sustainable investment for Asia-Pacific at FTSE Russell; and Datuk Ho Kay Tat, the publisher and group CEO of The Edge Media Group [L-R]


The awards seek to recognise and honour Malaysian companies for their commitment to developing and enhancing their business operations according to the Environmental, Social and Governance (ESG) principles. The award ceremony was held at a gala dinner at the Sunway Resort Hotel on 28 November 2022.

The Edge Malaysia ESG Awards 2022 comprised two categories – the Equity Awards and the Fund Awards. The Equity Awards were organised in collaboration with Bursa Malaysia and FTSE Russell and the Fund Awards were in collaboration with the Securities Commission and Morningstar. These awards were aimed at promoting ESG adoption and leadership amongst industry leaders and professionals by recognising 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 2022.

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. (Hektar Asset Management), the Manager of Hektar REIT said: "We are honoured to be conferred with these prestigious awards, a testament and recognition of our efforts in driving Sustainability initiatives since we embarked on the core focus on its three pillars of E, S and G across the organisation in 2017. Our commitment to ESG principles is long-term, as we recognise that all of us have a responsibility to our stakeholders. We remain committed to further advancing our efforts in managing material sustainability matters in the area of environmental conservation, including climate change mitigation and adaptation, water & waste management, and managing energy consumption, including incorporating renewable energy in our energy mix." En Johari emphasised that the company will continue to ensure that its initiatives are in accordance with the company's corporate social responsibility (CSR), industry best practices and investors' expectations. Over the years, Hektar REIT has joined hands through many partnerships and collaborations with local and international organisations, providing support to NGOs' and charity programs to support underprivileged and marginalised communities besides advancing and empowering women to improve their financial independence for the benefit of families.

"We recognise the need for responsible sourcing and are working closely with external parties, such as our tenants and vendors, to reduce our carbon footprint across the value chain. An example is the recently introduced Reverse Vending Machine (RVM) to recycle plastic bottles and cans at Subang Parade as a pilot project to play our role and reward our loyal patrons with vouchers for redemption for their continued commitment to becoming a part of a responsible society. We will also continue integrating ESG into all aspects of our business, from financial management to operations and future planning to deliver resilient and sustainable long-term value for our stakeholders."

In June 2022 FTSE Russell evaluation, Hektar REIT was upgraded from a 3-star to a 4-star ESG rating on the FTSE4Good Bursa Malaysia Index (F4GBMI). Based on the F4GBMI evaluation of the results, Hektar REIT is inspired and encouraged to continue its efforts to improve initiatives in all three core areas of Environmental, Social & Governance and embed these core principles into its business DNA.

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

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Hektar REIT’s Portfolio Benefits from Retail Recovery

KUALA LUMPUR, Nov 15, 2022 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced the third quarter results ended 30 September 2022 (3Q 2022). Hektar REIT recorded revenue of RM31.06 million, a substantial increase of 62.4% compared with RM19.12 million in the same quarter of the previous year. The higher revenue is attributed to the increased rental income, including higher turnover rent, increased car park income and higher hotel occupancy. Hektar REIT registered a net property income of RM18.31 million, an increase of 77.2% compared with RM10.33 million in 3Q 2021, while the realised net income was RM13.50 million, a notable increase of 861.8% compared with RM1.40 million for the same quarter in the preceding year.


En. Johari Shukri, CEO of Hektar Asset Management


Hektar REIT's performance for the nine months ended 30 September 2022 (9M 2022) showed an increase in revenue by 25% to RM89.55 million compared with RM71.62 million in the corresponding period of 2021. The net property income rose 40.4% to RM48.64 million in 9M 2022 compared with RM34.63 million in the same period for last year, while the realised net income grew by 256% to RM33.82 million compared with RM9.50 million.

The Malaysian retail landscape showed steady recovery as it inches back to the pre-pandemic levels, and it is evident across Hektar REIT's portfolio. The shopping malls recorded a higher footfall of 269% year-on-year (y-o-y), along with a 152% higher vehicle count y-o-y. This is in tandem with the continuous improvement in tenants' sales performance at our malls, providing headroom for rental growth.

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: "Retail activities remained strong in the quarter under review. Recovery in consumer-related subsectors, including leisure, international tourism and hospitality, continued to aid in the overall performance of the retail industry. Hektar REIT's malls are well-positioned as neighbourhood malls and leverage the proximity to the community, catering to all their basic needs as well as an increased desire for F&B and social offerings such as entertainment options to be enjoyed together with their family & friends."

"Despite the Malaysian economy's strong performance, we remain cautious of the outlook for the coming quarters given the volatile economic landscape driven by hawkish monetary policy in response to inflationary pressure, uncertain consumer sentiments as well as lingering supply-chain and logistics issues stemming from geopolitical concerns. We will continue adopting prudent financial management, cost optimisation and enhancing our asset efficiencies to help cushion the impact."

"We are also actively exploring avenues for growth by ensuring a strong portfolio of retail brands in our malls that can optimise sustainable returns and defensible income through active tenancy remixing and rejuvenation of the centres. We will continue to look for ways to enhance and improve the look and condition of our malls as part of longer-term strategies to improve our dividend yields. To improve on revenue and debt recovery post-pandemic, our team has been consistently tracking tenants' ongoing performance to carefully structure our new tenancies and renewals, apart from aggressively looking at strategies to manage rental collection. We also remain committed to reducing our environmental footprint and increasing our responsibility towards our stakeholders by continuously undertaking several ESG initiatives because it is the right thing to do for ourselves and our communities."

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

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K. Wah Group Sponsors Hong Kong Palace Museum Volunteer Programme, Committed to Promoting Chinese Culture and Dialogue among World Civilisations

HONG KONG, Nov 15, 2022 – (ACN Newswire) – K. Wah Group's member companies K. Wah International Holdings Limited ("KWIH") and LUI Che Woo Prize Limited ("LUI Chi Woo Prize") are jointly sponsoring the Hong Kong Palace Museum ("HKPM" or the "Museum") Volunteer Programme to provide various training courses and work opportunities aiming at increasing the public's appreciation for the Chinese culture, especially among the younger generation, nurturing talents for the heritage industry and arts and culture sector, and fortifying Hong Kong's status as a hub for cultural and artistic exchange between China and the rest of the world.
Ms Jessica Cheng, General Manager of LUI Che Woo Prize (4th left), and Ms Helen Cheung, General Manager of Corporate Affairs at KWIH (5th left), attend the launch ceremony of the Hong Kong Palace Museum's Volunteer Programme, and, together with Dr Louis Ng, Museum Director of the Hong Kong Palace Museum (middle), witness volunteers embarking on their mission to promote Chinese culture.


Around 500 volunteers enrolled in the first HKPM Volunteer Programme and subsequently participated in a month-long series of diverse and professional training sessions covering Chinese art and culture, culture of Forbidden City, and an introduction to exhibition and museum operations. The training sessions help them understand the rich and profound Chinese culture and develop a more in-depth understanding of the heritage industry. Having completed the training programme, the volunteers are assisting the Museum with educational activities, exhibition planning, research, artefact conservation and museum operations.

Dr Lui Che-woo, Chairman of K. Wah Group, said, "As a keen promoter of arts and culture, K. Wah Group hopes that by supporting the HKPM Volunteer Programme it can help strengthen the public appreciation of the Chinese culture, enhance awareness of China's heritage among young people and bolster their sense of national identity and belonging to the country, while also supporting Hong Kong's status as a hub for cultural exchange between China and the rest of the world." It has become increasingly common for top museums around the world to have their own volunteer programmes. In addition to providing support for a wide range of museum operations, the volunteers themselves can explore the museum from different perspectives and learn while working.

Ms Jessica Cheng, General Manager of LUI Che Woo Prize, and Ms Helen Cheung, General Manager of Corporate Affairs at KWIH attended the recent inauguration ceremony of the HKPM Volunteer Programme. Joined by Dr Louis Ng, Museum Director of the Hong Kong Palace Museum, they witnessed the volunteers embark on their mission to promote Chinese culture.

The Hong Kong Palace Museum officially opened to the public on 3 July 2022. It aims to become a world-leading cultural museum and is committed to encouraging the public to explore and appreciate Chinese art and culture, as well as working closely with major international art and cultural institutions to foster dialogues among different civilisations.

About K. Wah International Holdings Limited (stock code: 00173)
K. Wah International Holdings Limited ("KWIH"), listed in Hong Kong in 1987, is the property flagship of K. Wah Group. An integrated property developer and investor with a foothold in Hong Kong, the Yangtze River Delta and Pearl River Delta regions, KWIH encompasses a portfolio of large-scale residential communities and comprehensive development undertakings such as premium residential developments, Grade-A office towers, hotel and serviced apartments, and retail premises. Cresleigh Property, the property management arm of KWIH, delivers exceptional hotel serviced property management services guided by advanced and international standards in general to premium residential buildings, commercial facilities, office towers and real estate complexes. Driven by a keen market sense and a versatile strategy, and backed by strong financial capability, KWIH has built up a prime land reserve in major cities of China, and thus a strong foothold for future growth.
KWIH is a constituent stock of the Hang Seng Composite SmallCap Index, MSCI Hong Kong Small Cap Index and Hang Seng Stock Connect Greater Bay Area Composite Index as well as an eligible stock under the Shenzhen-Hong Kong Stock Connect programme. KWIH held a 3.73% stake in Galaxy Entertainment Group Limited (stock code: 00027) as of 30 June 2021.Website: http://www.kwih.com

About LUI Chi Woo Prize
Founded by Dr. Lui Che-woo in 2015, the "LUI Che Woo Prize – Prize for World Civilisation" is an annual, first of its kind international cross-sector innovative award for advancing world civilisation and inspiring people to build a more harmonious world. It aims to recognise and honour individuals or organisations all over the world for outstanding contributions and encourages the continuation of that work in three objectives: sustainable development of the world, betterment of the welfare of mankind and promotion of positive life attitude and enhancement of positive energy.

Each awardee will receive a cash award of HK$20 million (equivalent to approximately US$2.56 million), a certificate and a trophy. Each Prize is awarded to a single recipient (i.e. no sharing of a Prize) who can be an individual or an organisation.

LUI Che Woo Prize Limited is a company limited by guarantee incorporated in Hong Kong and is responsible for administration and management of "LUI Che Woo Prize".

For more details, please go to www.luiprize.org.


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Grand Ming Group Holdings Limited Announces Interim Results for the Six Months Ended 30 September 2022

HONG KONG, Nov 12, 2022 – (ACN Newswire) – Grand Ming Group Holdings Limited (the "Company" and together with its subsidiaries, the "Group", stock code: 1271.HK) today announces its interim results for the six months ended 30 September 2022 ("FH 2022/23").

Highlights
— Revenue amounted to HK$4.92 billion, an increase of 7.4 times from the last corresponding period.
— Profit for the period was HK$1.41 billion, representing a year-on-year increase of 19.4 times.
— Declared payment of an interim dividend of 6.0 HK cents per share.
— Stay positive toward lucrative business of owning and operating data centres via expanding portfolio of developing two new centres in near future.
— Seize opportunity to increase land reserve for property development in Hong Kong.
— Continue to execute the plan for property development in Nanning, Guangxi Province, China.

The Group's consolidated revenue increased by 7.4 times from HK$586.1 million for the six months ended 30 September 2021 ("FH 2021/22") to HK$4,920.1 million for FH 2022/23. The Group recorded a net profit for FH 2022/23 was HK$1,410.2 million, representing an increase of 19.4 times when compared to that of HK$69.2 million for FH 2021/22. Earnings per share was 99.3 HK cents (2021: 4.9 HK cents). The Group's underlying profit for FH 2022/23, excluding the change in fair value of investment properties, amounted to HK$1,414.3 million, representing an increase of 47.4 times as compared to an underlying profit of HK$29.2 million for FH 2021/22. Underlying earnings per share was 99.6 HK cents (2021: 2.1 HK cents).

The significant increase in the Group's consolidated revenue and net profit in FH 2022/23 was primarily attributable to the handover of the pre-sold units of the residential project namely The Grand Marine to buyers during FH 2022/23.

The Board declares to pay an interim dividend of 6.0 HK cents (2021: 4.0 HK cents) per share, payable on 15 December 2022 to shareholders whose names appear on the Company's register of members on 2 December 2022.

The Group's first residential property development project "The Grand Marine" at Tsing Yi, the New Territories consisted of two residential towers with 776 residential units, together with car parks and clubhouse facilities. It provides a saleable area of approximately 345,000 square feet. The property's pre-sale which began in November 2019 received applauding sentiment and over 92% of the residential units had been pre-sold. The certificate of compliance for The Grand Marine was obtained in March 2022. Handover of the pre-sold units to buyers subsequently commenced in April 2022, with revenue of HK$4.77 billion recognised during FH 2022/23.

The data centre leasing business was in good shape maintaining a healthy growth. Revenue derived from this segment increased by 23.9% to HK$113.9 million in FH 2022/23, primarily driven by the increased utilisation of data centre spaces by existing and new customers. The Group on the other hand executes the plan to expand the data centre network by developing the two greenfield sites at No.3 On Kiu Street and No.8 On Chuen Street in Fanling, the New Territories into two new high-tier data centres with an estimated gross floor area of approximately 185,000 square feet in aggregate. The development is targeted to be delivered in mid-2025 and mid-2026 respectively.

In FH 2022/23, revenue derived from the construction business decreased by 90.2% to HK$29.7 million, which recorded a significant drop due to substantial decrease in revenue recognized during the period under review from the completed construction project at Kai Tak.

The Group's another development project in its heatmap, located at No. 41, 43 and 45 Pau Chung Street in To Kwa Wan, Kowloon is now named "The Grands". The site is being redeveloped into a 25-storey residential tower with 76 units and clubhouse facilities over two levels of shops covering a total gross floor area of approximately 31,000 square feet. The topping-out of the superstructure works had been completed and the interior fitting-out works are currently in progress. Preparation works for the pre-sale are also commenced. The project is scheduled to be completed in the first half of 2023.

For the site at No.1 Luen Fat Street, Fanling, the New Territories, the Group plans to develop into a residential-cum-retail complex with a total gross floor area of approximately 36,000 square feet. The land exchange application to convert the use of land is under processing. Foundation works has started, and the development is scheduled to be completed in mid-2025. Upon completion of the redevelopment of the site, the completed properties will be sold to generate revenue for the Group.

The Group's luxury residential project, CRISTALLO, at No. 279 Prince Edward Road West, Kowloon was well sold. As of September 2022, 15 units out of the total 18 units had been sold.

The Group expands into Mainland China via acquiring its first land parcel through government public auction which is located at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province with a site area of approximately 574,000 square feet in July 2021. It is planned to develop the land into a luxury residential project under the theme of leisure and healthy lifestyle, comprising high-rise apartment units, villas, retail shops and a wellness centre. Target customers will be the elderly and retirees and their families. The estimated gross floor area of the proposed development is approximately 1,100,000 square feet. Site investigation had substantially been completed. Application for building plan approval is under preparation.

Mr. Chan Hung Ming, Chairman and Executive Director of Grand Ming Group Holdings concluded, "I am pleased to share that we have made a strong growth and achieved a record-high revenue and net profit from our right strategy of making the Group to be a property developer, despite the challenging global environment with persistent pandemic impact, interest rate hike and high inflation. Demand for our both development property and data centre portfolio remain resilient, and our brand is well oriented to capture growth opportunities. In the midst of uncertain economic outlook, we remain cautiously optimistic on the short term and confident on the long-term prospects of the local residential property market. We will keep on identifying and securing opportunities to increase land bank on the backdrop of our sound financial position. We also commit to providing comprehensive and reliable services to our data centre customers. Apart from upgrading the existing iTech Tower 1 & 2, the two new data centres in Fanling are designed and to be equipped to accommodate customers with high power requirement. Our new strategic direction of developing property in Mainland China will continue to leverage our distinctive operating capabilities and seasoned experience to seize the attractive growth opportunities."

About Grand Ming Group Holdings Limited (Stock code: 1271.HK)
The Group is principally engaged in the business of building construction, property leasing and property development. As a local wholesale co-location provider of high-tier data centres, the Group is one of the dedicated service providers in Hong Kong which owns and uses the entire building for leasing to customers for data centre use. Its clientele includes multinational data centre operator, telecommunications company and financial institutions. The Group operates two high-tier data centre buildings, namely iTech Tower 1 and iTech Tower 2. It also acquired two pieces of land in Fanling, the New Territories for developing into two high-tier data centres. Furthermore, the Group launches a residential development project namely "The Grand Marine" at No.18 Sai Shan Road, Tsing Yi, as well as a luxury residential project, Cristallo, at No.279 Prince Edward Road West, Kowloon. A new residential-cum-retail development project namely "The Grands", which is located at No. 41, 43 and 45 Pau Chung Street, To Kwa Wan, Kowloon with a total gross floor area of approximately 31,000 square feet, is well underway and scheduled to be completed in mid-2023. Besides, a site located at No.1 Luen Fat Street, Fanling, New Territories, is planned to develop into a residential-cum-commercial project with total gross floor area of approximately 36,000 square feet and target completion at mid-2025. In Mainland China the Group owns a piece of land at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province for development into a luxury residential project comprising high-rise apartments, villas, retail shops and wellness centre with an estimated gross floor area of approximately 1,100,000 square feet.

Media Contacts:
Angel Yeung
Jovian Communications Ltd
Email: news@joviancomm.com


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Handover of National Centre for Pandemic and Infection Diseases in Myanmar; Advanced Facility Built with Donation from AW Foundation

YANGON, Myanmar, Nov 5, 2022 – (ACN Newswire) – AW Foundation, the philanthropic arm of Asia World Group of Companies, handed over to the Ministry of Health the newly completed Wai Bar Gi New Wing – National Centre for Infectious Diseases on 3rd Nov, 2022. Dedicated to the treatment of infectious diseases and pandemics such as COVID-19 which exerted heavy patient load on the public healthcare sector, it is the most advanced medical centre to date in Myanmar.


The Newly-Constructed Wai Bar Gi New Wing- National Centre for Infectious Diseases

Side Views of Wai Bar Gi New Wing- National Centre for Infectious Diseases

Interior Views of Wai Bar Gi New Wing- National Centre for Infectious Diseases


Lieutenant General Aung Lin Dwe, the secretary of the State Administration Council, unveiled a plaque commemorating the handover of the three-story, 110-bed medical Centre, which was completed with a donation of 6 billion kyats and USD 3.1 million from the Foundation.

The Wai Bar Gi New Wing was mooted in November 2020 by the AW Foundation team based on the personal experience of colleagues during the COVID-19 pandemic. The lack of quarantine hospitals, beds, and oxygen supply, and critically, the exposure of the devoted medical frontliners taking care of patients in general hospitals were gaps in the healthcare system evidenced during the critical period.

The 51,055 square feet (4,745sqm) Centre is equipped with airflow control (negative-positive pressure), integrated oxygen access, isolation rooms, and water treatment and features that combine to make it one of the most technologically-advanced public healthcare facilities in the country. AW Foundation believes the new Centre will support the public healthcare system for the treatment of COVID-19 and any future pandemic.

Construction of Centre

A ground-breaking ceremony was held on-site on 5 January 2021. Construction was delayed due to a nationwide lockdown arising from the pandemic.

The Centre is equipped with:

– Donning and Doffing for medical staff
– Staff corridors and lifts for use by Patients and Staff
– Air-Conditioning and Mechanical Ventilation (ACMV) for full-time automatic disinfection of the air-flow system in the hospital building
– Room communication systems and other electrical communication facilities (PABX, PA & Intercom)
– Sound-Proof Generator for emergency use
– Emergency response alarm systems that can automatically respond to fire and various natural disasters (fully equipped as required for an infectious disease treatment hospital)

Sustainable Garden Hospital

The Centre was conceptualized and constructed with deep consideration of the environment. Sustainable solar energy and the creation of new greenery at the Centre also create an environment to enhance the recovery process of patients and the well-being of the healthcare community.

About AW Foundation (AWF) – Together, we can make change happen

AW Foundation is a non-profit organization and the philanthropic arm of the Asia World Group of Companies. AWF supports projects that develop the well-being of the people of Myanmar, focusing on healthcare, education, disaster relief, and community development. It was established in 2014, building on a strong tradition of philanthropy of the Asia World Group of companies since 1992.

AW Foundation aims to develop and advance the livelihoods of people throughout Myanmar and is passionate about exploring new projects that benefit all.

Through our commitment to quality and continued efforts to help those in need, AWF strives to deliver exceptional value and improve the lives of Myanmar's citizens. https://aw-foundation.org/

For media queries, please contact the AW Media Office at media@aw-foundation.org

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Transnational, homegrown developers accoladed at the 12th PropertyGuru Asia Property Awards (Singapore) celebration

SINGAPORE, Nov 1, 2022 – (ACN Newswire) – PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, named the Winners and Highly Commended awardees of the 12th annual edition of the PropertyGuru Asia Property Awards (Singapore) on Friday 28 October, supported by Kohler and Mitsubishi Electric Asia Pte Ltd.



— UOL Group Limited leads list of 2022 awardees with diverse wins that include the titles of Best Developer, Best Transnational Developer, and Best Hospitality Developer
— Aurum Land (Private) Limited, GuocoLand, Fairview Developments Pte Ltd (a unit of Tong Eng Group), and The Assembly Place also dominate the Developer categories
— Michelle Yong, CEO of Aurum Land and CEO and founder of Core Collective, receives the award for Singapore Real Estate Personality of the Year

The 12th Annual PropertyGuru Asia Property Awards (Singapore) celebrated excellence and innovation in real estate development and design with a highly awaited gala dinner and presentation at the Shangri-La Singapore ballroom. The 2022 edition of the programme, part of the PropertyGuru Asia Property Awards series, distinguished Singapore's outstanding real estate developers and projects in 42 categories.

UOL Group Limited garnered the Best Developer award, their third win in this category after holding the coveted title in 2012 and 2019. The company also won the new title of Best Transnational Developer as well as the Best Hospitality Developer award, buoyed by its project Pan Pacific Orchard, which won the Best Hotel Development award. The company also won two Special Recognitions.

UOL Group Limited, Singapore Land Group Limited, and Kheng Leong Company, won three awards for their projects Amo Residence and The Watergardens at Canberra.

GuocoLand won the titles of Best Luxury Developer, Best Sustainable Developer, and Best Mixed Use Developer, in addition to two Special Recognitions. Meyer Mansion, a project by GuocoLand, won the highly competitive title of Best Condo Development (Singapore), plus two awards.

Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) was named Best Housing Development (Singapore), another highly sought-after title, and Best Strata Housing Development. Fairview Developments Pte Ltd (a unit of Tong Eng Group) was named Best Landed Developer.

Park Nova by Shun Tak Holdings won across three categories, including Best Ultra Luxury Condo Development. Meanwhile, The Assembly Place was named Best Co-Living Operator and received the Best Heritage Co-Living Space award for 138-142 Jalan Besar.

Named Best Lifestyle Developer and Best Boutique Developer, Aurum Land (Private) Limited won Best Lifestyle Development for The Hyde.

Michelle Yong, CEO of Aurum Land and CEO and founder of Core Collective, came to accept the golden statuette for Singapore Real Estate Personality of the Year, a title decided by the editorial team of Property Report by PropertyGuru, the official magazine of the Awards. Yong was honoured for modernising Aurum Land into a true space and business innovator and contributing to Singapore's co-sharing economy.

Michelle Yong said: "I believe that what matters most in life is the depth of your relationships and the sheer number of people you have helped along the way-it is the true measure of wealth-and that as business leaders, we have the privilege and duty to impact so many more people more deeply. I hope to live up to the legacy of this award and its past recipients by continuing to lead from the heart and build supportive environments that create change, advance communities, and accelerate growth."

Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: "Congratulations to the finest real estate developers and projects in Singapore this year. The recipients of these Awards show how Singaporean developers continue to offer an increasing variety of dream homes, especially in terms of luxury, wellness, and environment. We hope that by recognising these great projects, PropertyGuru will be able to ease the decision-making process for property seekers in Singapore."

The independent panel of judges who determined this year's winning developers and projects consist of Kristin Thorsteins, chairperson of the Awards in Singapore and head of partnership growth for APAC, IWG PLC; Chua Shang Chai, partner, Dentons Rodyk & Davidson LLP; Greg Shand, architect, Robert Greg Shand Architects; Henry Woon, director, Atelier Ten; Joelle Chen, sustainability director, Singapore, Lendlease; Tay Kah Poh, adjunct associate professor at the NUS Department of Real Estate; Dr. Teo Ho Pin, senior adviser, managed services, Surbana Jurong Private Limited; and Wenhui Lim, partner, SPARK Architects.

As the official supervisor of the Awards, the team of HLB Singapore Foo Kon Tan, led by Raymond Kong and Chen Tsai-Wei Vivian, made this year's selection process as fair, transparent, and credible as possible.

Top winners in Singapore will now head to the 17th PropertyGuru Asia Property Awards Grand Final, set on 9 December in Bangkok, Thailand, which will welcome awardees from around the region to compete for the titles of 'Best in Asia' as well as attend the PropertyGuru Asia Real Estate Summit on 8 December, as part of PropertyGuru Week.

Organised by PropertyGuru Group (NYSE: PGRU), the 12th Annual PropertyGuru Asia Property Awards (Singapore) programme is supported by gold sponsors Kohler and Mitsubishi Electric Asia Pte Ltd.; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; official channel partner History; official PR partner Artemis Associates; media partners d+a Magazine, Luxuo, Palace, and Yacht Style; official ESG partner Baan Dek Foundation; supporting associations Singapore Estate Agents Association and Singapore Green Building Council; and official supervisor HLB.

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

LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES
12th PropertyGuru Asia Property Awards (Singapore)

DEVELOPER AWARDS

Best Developer
WINNER: UOL Group Limited

Best Luxury Developer
WINNER: GuocoLand

Best Mixed Use Developer
WINNER: GuocoLand

Best Hospitality Developer
WINNER: UOL Group Limited

Best Lifestyle Developer
WINNER: Aurum Land (Private) Limited

Best Sustainable Developer
WINNER: GuocoLand

Best Transnational Developer
WINNER: UOL Group Limited

Best Boutique Developer
WINNER: Aurum Land (Private) Limited

Best Landed Developer
WINNER: Fairview Developments Pte Ltd (a unit of Tong Eng Group)

Best Co-Living Operator
WINNER: The Assembly Place

DEVELOPMENT AWARDS

Best Ultra Luxury Condo Development
WINNER: Park Nova by Shun Tak Holdings

Best Luxury Condo Development
WINNER: Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd
HIGHLY COMMENDED: The Hyde by Aurum Land (Private) Limited

Best Luxury Waterfront Condo Development
WINNER: Meyer Mansion by GuocoLand

Best Premium Condo Development
WINNER: Liv @ MB by Bukit Sembawang Estates Limited
HIGHLY COMMENDED: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company

Best Private Condo Development
WINNER: The Commodore by JBE Holdings Pte Ltd

Best Boutique Condo Development
WINNER: Orchard Sophia by Orchard Sophia Pte Ltd

Best Executive Condo Development
WINNER: Tenet by TQS Development Pte Ltd

Best Nature-Integrated Development
WINNER: The Watergardens at Canberra by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company

Best Lifestyle Development
WINNER: The Hyde by Aurum Land (Private) Limited
HIGHLY COMMENDED: Orchard Sophia by Orchard Sophia Pte Ltd

Best Strata Housing Development
WINNER: Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group)

Best Hotel Development
WINNER: Pan Pacific Orchard by UOL Group Limited

Best Office Development
WINNER: Frasers Tower by Frasers Property Singapore

Best Industrial Development
WINNER: FoodFab @ Mandai by Mandai 7 JV Pte Ltd

DESIGN AWARDS

Best Ultra Luxury Condo Architectural Design
WINNER: Park Nova by Shun Tak Holdings

Best Luxury Condo Architectural Design
WINNER: Meyer Mansion by GuocoLand
HIGHLY COMMENDED: Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd
HIGHLY COMMENDED: The Hyde by Aurum Land (Private) Limited

Best Premium Condo Architectural Design
WINNER: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company

Best Private Condo Architectural Design
WINNER: The Commodore by JBE Holdings Pte Ltd

Best Luxury Condo Interior Design
WINNER: Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd
HIGHLY COMMENDED: The Hyde by Aurum Land (Private) Limited

Best Premium Condo Interior Design
WINNER: Liv @ MB by Bukit Sembawang Estates Limited

Best Boutique Condo Interior Design
WINNER: Orchard Sophia by Orchard Sophia Pte Ltd

Best Private Condo Interior Design
WINNER: The Commodore by JBE Holdings Pte Ltd

Best Ultra Luxury Condo Landscape Architectural Design
WINNER: Park Nova by Shun Tak Holdings

Best Premium Condo Landscape Architectural Design
WINNER: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company

Best Hotel Architectural Design
WINNER: Artyzen Singapore by Artyzen Hospitality Group

Best Hotel Interior Design
WINNER: Artyzen Singapore by Artyzen Hospitality Group

Best Heritage Co-Living Space
WINNER: 138-142 Jalan Besar by The Assembly Place
HIGHLY COMMENDED: The Assembly Place, A Co-Living Hostel @ Perak by The Assembly Place

Best Co-Living Space
WINNER: Hovoh Homes by Hovoh Pte Ltd

BEST OF SINGAPORE AWARDS

Best Condo Development (Singapore)
WINNER: Meyer Mansion by GuocoLand

Best Housing Development (Singapore)
WINNER: Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group)

SPECIAL AWARDS

Special Recognition in ESG
WINNER: GuocoLand
WINNER: UOL Group Limited

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

PUBLISHER'S CHOICE

Singapore Real Estate Personality of the Year
WINNER: Michelle Yong, CEO of Aurum Land and CEO and founder of Core Collective

NOTE: Use of the PropertyGuru Asia Property Awards (Singapore) logo is limited to the publication of this article only.

PROPERTYGURU CONTACTS:

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

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

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

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

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 2022, 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 2022.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:
PropertyGuru Group is Southeast Asia's leading* property technology company, and the preferred destination for over 38 million property seekers# to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 3.3 million real estate listings, 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 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets company; award-winning mobile apps; a high quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia.

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

* In terms of Engagement Market Share based on SimilarWeb data.
# Based on Google Analytics data between July 2021 and December 2021


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Helping to Grow the Work from Cafe Culture in Balestier

SINGAPORE, Oct 25, 2022 – (ACN Newswire) – A newly-established co-working space with food and beverage (F&B) options is aiming to enhance and build on a work from cafe culture in the heart of Balestier, while allowing for hybrid working and interacting with communities within the vicinity.


Located at 355, Balestier Road, Thank You Come Again (TYCA) is a social hub with a cafe and restaurant, and also presents a flexible workspace for residents around the area who have been craving for a comfortable location to call their own as they continue with remote working several days a week. Apart from just providing them a location to get work done, which also includes private work pods for conference calls and livestreaming, TYCA will also curate different kinds of experiences for patrons of the venue, which was officially opened on 22 October.

TYCA, a lifestyle brand created by Cover Projects, which also started the Initial Residence – a service residence at the same location – will also offer F&B options ranging from breakfast all the way to dinner which is a mixture of Mediterranean and contemporary cooking.

TYCA's grab and go provides convenience for people on go. A seasonal menu will be based on classics such as specialty coffee, hot pressed sandwiches, fresh salads and ready to eat pastas and pastries. TYCA will also serve out garden to table dining offerings in partnership with plant stylists The Nature Dialogue and The Initial Residence where a variety of edibles such as kale and basil are grown at the Initial Residence's terrace garden will be used in the preparation of certain dishes at TYCA.

"TYCA's presence at the Initial Residence aims to serve the wider community in Balestier, in addition to the residents who have started calling the serviced residence home. It is a social hub, a food and beverage outlet, a retail and events space all rolled into one," said Mr Lim Keong Wee, managing director of Cover Projects.

"The idea of combining TYCA and The Initial Residence is to create an integrated experience of live, work and play so that patrons can get their work done while experiencing the comfort of living in the city fringes."

The official opening of Initial Residence and TYCA comes at a time when studies are showing that more young Singaporeans, compared with older age groups, are considering renting and flat sharing as they find current property prices too high, according to a consumer sentiment study released by real estate portal PropertyGuru in September.

"The statistics are indicating that there is a demand for comfortable co-living spaces with amenities to boot, and we are aiming to plug that gap with the introduction of Initial Residence and TYCA in the city fringes," added Lim, who also runs an design practice.

Among the fringe activities featured on TYCA's official opening day included a plant-styling workshop by Nature Dialogue, Sake Tasting Experience by Tsunan Brewery and Coffee Workshop by Liberty Coffee. A multi-functional space for individuals, group discussions and learnings will also provided added value for patrons and guests at the facility.

"In time, there will be more fringe activities which we will introduce to TYCA which will benefit patrons, and these will include physical and mental wellness programmes and also a hub for cyclists who ply through the Balestier route," added Mr Lim.

TYCA will also offer an event hall for organisations keen to use the space for corporate or group events. All enquiries can be forwarded to reservations@tyca.com.sg. Follow TYCA on Instagram @tyca_sg and on Facebook @Th4nk.Y0u.C0me.Ag4in.

For media queries, please contact hello@swstrategies.org.

About Thank You Come Again

TYCA is a Singapore-born food and beverage and co-working space outlet in Singapore which serves up contemporary cuisines at affordable prices for working adults. TYCA provides a convenient location along the city fringes for residents of the area and nearby communities to use as location for remote working, and is housed below The Initial Residence. TYCA also aims to curate social experiences such as group dining, plant styling courses and wellness activities for patrons, bringing work and play closer to neighbourhoods.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com