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During its investor day on November 22, management at CapitaLand Investment (CLI) announced their plans to expand their business in Australia. To support this growth, the company has recently appointed two senior hires, Angelo Scasserra and Rahul Bharara, to newly created roles as CEO and chief investment officer respectively. These hires are expected to join the company in the first half of 2025.

When considering real estate investments in Singapore, location is a key factor to consider. This is because certain areas are known to have a greater impact on property value appreciation than others. In particular, condos located in central areas or near important amenities like schools, shopping malls, and public transportation hubs tend to have a higher appreciation in value. Some prime locations in Singapore that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). These areas are highly sought after due to their convenient locations and attractive amenities. Additionally, the proximity to reputable schools and educational institutions further increases the desirability of condos in these areas, making them a sound investment choice. For more information on potential real estate projects in Singapore, visit Singapore Projects.

To further strengthen their presence in Australia, CLI plans to invest up to A$1 billion ($876.7 million) to grow their funds under management (FUM) in the country. In September, CLI closed its Australian Credit Programme (ACP), their maiden credit fund with a value of A$265 million that was backed by Asian investors.

CLI’s group CEO, Lee Chee Koon, shared during the investor day that the company has formed a partnership with teams from Wingate in Australia to originate and underwrite deals, and that there is a lot of potential for growth in Australia and the Asia-Pacific region.

Interestingly, on November 25, the Australian Financial Review reported that CLI planned to acquire Wingate. This move may come as a surprise given that in 2014, CapitaLand divested its subsidiary, Australand Property Group, which was then acquired by Frasers Property Australia. During the Q&A session at the investor day, CLI’s chairman, Miguel Ko, mentioned that the decision to sell Australand and invest more in China was made before his time as chairman. He declined to comment on his predecessors’ decisions, stating that the company did not have a crystal ball to predict the current situation in China at the time.

At the time of the divestment, China was experiencing a booming market and CapitaLand had a significant competitive advantage. Whether this was a good move or not is up for debate, as Ko stated, “That could have been a major win or a wrong move. This is not a comment on whether my predecessors made a right or wrong decision.” According to then-president and group CEO, Lim Ming Yan, the decision to divest Australand was made during “favorable” market conditions and the company wanted to reallocate capital to their core businesses in Singapore and China. The remaining 39.1% stake in Australand was sold in March 2014, following a partial divestment in November 2013, to improve trading liquidity.

With the recent appointment of Scasserra and Bharara and their plans to invest in Australia, CLI’s FUM is expected to reach $113 billion. This puts them in competition with other companies racing to increase their AUMs.…

According to the latest Real Estate Sentiment Index (RESI) published by the National University of Singapore (NUS), property buying sentiment in Singapore has improved in the third quarter of 2024. The RESI, which surveys senior executives of real estate firms, is measured quarterly by NUS’s Department of Real Estate and the NUS Institute of Real Estate and Urban Studies (IREUS) to gauge the overall sentiment of the private real estate market. The sentiment index for the current quarter has increased from 4.8, recorded in the previous quarter, to 5.9. Likewise, the future sentiment index has also risen from 5.1 to 5.8.

The composite sentiment index has also experienced a surge, climbing to 5.9 from 4.9 in the previous quarter. This is the first time all three indices have crossed the neutral score of 5, indicating a growing optimism in the market. This positive sentiment is attributed to the US Federal Reserve’s rate cut in September, the first since 2019, and another reduction in November. The expectation of more cuts in the future is expected to improve credit availability and reduce the costs of doing business, leading to a rise in market sentiment.

Professor Qian Wenlan, director of IREUS, states that the positive sentiment is also supported by the performance of the suburban residential, hotel/service apartments, and suburban retail sectors. Suburban residential and hotel/serviced apartments have recorded the highest current net balances of +35%, followed by suburban retail with +26%. The outlook for these sectors is also optimistic, with suburban residential scoring +29% for future net balance, while hotel/serviced apartments and suburban retail scored +35% and +19%, respectively.

International investors must possess a comprehensive knowledge of the rules and restrictions surrounding property ownership in Singapore. While owning landed properties entails stricter guidelines, foreigners have relatively fewer limitations when it comes to purchasing condos. However, it is important to note that foreign buyers are subjected to the payment of the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. Despite this additional cost, the stability and potential for growth in the Singapore real estate market continue to attract foreign investments. This is evident in the continuous stream of foreign investment flowing into new condo launches all over the country through websites like New Condo Launches.

However, Provost’s Chair Professor Sing Tien Foo from the NUS Department of Real Estate notes that global economic uncertainty remains a top risk concern for developers. 67.7% of respondents have indicated a decline in the global economy as a potential risk, followed by job losses, a decline in the domestic economy, and an excessive supply of new property launches, ranking at 41.9%. While the current sentiment is positive, there are still potential risks that need to be monitored and addressed in the coming quarters.…

Singapore has been recognized as the sixth most prominent city in the world when it comes to branding, according to the latest data from the Brand Finance Global City Index. This index, published by a leading brand evaluation and strategy consultancy firm based in London, ranks cities based on their brand power and perceptions.

The recent index is the result of a global survey conducted among 15,000 individuals in 20 countries in September. The participants were asked to rank 100 cities using key performance indicators that reflect their perceptions of each city as an ideal place to live, work, study, visit, retire, and invest in. They were also given a list of 45 attributes grouped into seven pillars, including Business & Investment and Culture & Heritage, to associate with each city.

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When considering investing in property in Singapore, it is crucial for foreign investors to familiarize themselves with the regulations and limitations that govern property ownership in the country. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with less restriction. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite this added cost, the Singapore real estate market remains an attractive option for foreign investors, with its stability and potential for growth. Singapore Projects are a prime example of this promising market.

According to the survey respondents, Singapore’s overall ranking was boosted by its impressive performance in the business and investment pillar, where it placed third globally. This pillar measures perceptions such as the ease of doing business, the strength of the economy, and the city’s ability to support start-ups. Singapore also received high ratings for low crime and violence levels.

Alex Haigh, the managing director for Asia Pacific at Brand Finance, notes that Singapore is considered the “crown jewel” of the ASEAN region when it comes to city branding. He adds that the city shines in terms of economic growth, investment appeal, and world-class infrastructure, which solidifies its position as a premier global financial center.

On a global scale, London retained its top spot as the world’s leading city brand, followed by New York, Paris, Tokyo, and Dubai. With its remarkable performance in the latest Brand Finance Global City Index, Singapore has shown its continuous efforts in enhancing its brand power and perceptions on a global level.…

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The high demand for condos in Singapore can be attributed to the limited land availability on this small island nation. With an ever-growing population, there is a constant need for development, leading to stringent land usage rules and a fiercely competitive real estate market. Consequently, property prices in Singapore continue to soar, making real estate investment, particularly in Singapore Condo, a lucrative venture that offers considerable potential for capital gains. Singapore Condo has become a highly sought-after option for investment in light of this scarcity of land.

A boutique development, K Suites, located in District 15, topped the list of condos with new psf-price highs from Nov 1 to Nov 10. The developer achieved a new record of $2,443 psf with the sale of a 872 sq ft three-bedroom unit on the fourth floor for $2.13 million on Nov 8.

This marked the first time that K Suites breached the $2,400 psf mark, surpassing its previous high of $2,196 psf set in May 2023. The sale also beat the record of $2,379 psf achieved by a similar-sized unit on the 19th floor of Thomson Three on Nov 6.

K Suites is a freehold development comprising 19 units, located along Lorong K Telok Kurau. It was built on the former site of Ji Liang Gardens, a collection of six terraced houses purchased by the developer for $18.6 million in June 2021.

The units at K Suites range from three- to four-bedrooms, with sizes ranging from 797 sq ft to 1,270 sq ft. It also features a four-bedroom duplex penthouse and three five-bedroom duplex penthouses.

Thomson Three, a 99-year leasehold condo on Bright Hill Drive, also saw a new high of $2,379 psf. A 1,033 sq ft three-bedroom unit on the 19th floor was sold for $2.46 million on Nov 6, with the seller making a net profit of $598,000 from the resale transaction.

19 Nassim, a luxury condo in District 10, achieved a new low of $2,947 psf during the period in review. The developer sold a 646 sq ft one-bedroom unit on the fourth floor for $1.9 million on Nov 9, marking the first time the development has dropped below $3,000 psf.

Completed in 2023, 19 Nassim has 101 units ranging from 538 sq ft to 1,830 sq ft. It has sold 61 units since its launch in 2020.…

In the bustling private residential market, it is important for real estate investors to consider more stable and income-generating assets such as HDB shophouses. A valuable opportunity has arisen to acquire one of these desirable properties in the mature Toa Payoh neighbourhood.

The HDB shophouse, located at 125 Toa Payoh Lorong 1, is in one of the most centrally located estates in District 12. It is currently on the market for $2.88 million and is situated on a prime site bounded by Toa Payoh Lorong 1 and Toa Payoh Lorong 2. Additionally, it is conveniently located less than 200m from Braddell MRT Station on the North-East Line, serving approximately 13,000 MRT riders daily. This prime location is also linked to nearby HDB flats.

Surrounded by amenities such as Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Association Building on Toa Payoh Lorong 2, the shophouse is in a highly sought-after area.

With plans for the rejuvenation of the Toa Payoh estate and the expected influx of several thousand new households in the vicinity, the new owner stands to benefit from the transformation of Toa Payoh. This will lead to an increase in pedestrian footfall and a rise in property values in the area.

Exclusive market analysis by Aster See, senior marketing director at ERA Realty, reveals that most HDB shophouses located in the city fringe typically yield a rental return on investment (ROI) of around 2-3% based on their sales price. However, the shophouse at 125 Toa Payoh Lorong 1 offers an estimated ROI of approximately 4%, making it a more attractive investment opportunity with its competitive pricing and strong value.

See adds that this property also presents an attractive investment opportunity with an estimated rental yield of approximately 4%, which is competitive in the current market and offers steady income for investors. In addition to potential capital appreciation in the future as Toa Payoh continues to rejuvenate, the long-term ROI of this property could be substantial.

Toa Payoh will benefit from various government initiatives and schemes to rejuvenate the mature housing estate, as it is one of three neighbourhoods earmarked for rejuvenation under the government’s third phase of the Remaking Our Heartland programme. This programme, introduced by then-Prime Minister Lee Hsien Loong in his 2007 National Day Rally speech, offers comprehensive rejuvenation plans for HDB towns and estates to ensure their sustainability and vitality.

Since 2015, plans for Toa Payoh have been progressively implemented, with a focus on enhancing commercial and recreational facilities. The most notable development is the upcoming integrated project on the site of the former swimming complex, sports hall, and stadium along Toa Payoh Lorong 6. This new development will include sports facilities, a football stadium, a swimming pool complex, indoor sports halls, and more. It will also house national training centres for various sports, a polyclinic, and a library.

The HDB shophouse for sale at 125 Toa Payoh Lorong 1 is listed at $2.88 million. When the 12ha integrated development is completed in 2030, it is expected to further enhance Toa Payoh’s appeal as an HDB town and drive up footfall for the area’s shops, including the nearby HDB shophouse.

Ensuring proper financing is a crucial factor when investing in a condo. Fortunately, Singapore provides a variety of mortgage choices. However, it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework, which restricts the maximum amount of loan a borrower can obtain based on their income and current debt commitments. Familiarizing oneself with the TDSR and seeking guidance from financial experts or mortgage brokers can assist investors in making wise decisions regarding their financial options and avoiding excessive borrowing. For more information on Singapore projects, visit Singapore Projects.

The government’s plans to rejuvenate Toa Payoh and neighboring Caldecott will be anchored by the construction of several thousand new flats in these two estates. One of the upcoming Build-To-Order (BTO) projects is Toa Payoh Ridge, located at the junction of Toa Payoh Rise and Lorong 1 Toa Payoh. The 920-unit BTO project is less than 300m from the HDB shophouse for sale and is expected to be completed in the first half of 2025. The project sits between Toa Payoh and the upcoming Caldecott estate, which has been earmarked for future residential development.

Since 2017, Caldecott has also been earmarked for future residential development, with plans to build new BTO flats on a 10ha plot next to Caldecott MRT Station on the Circle Line. These new flats will be less than 500m from the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

The government appears to be laying the groundwork for a new BTO project in Caldecott, adjacent to Toa Payoh Ridge. In February 2020, the URA rezoned a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use, with a gross plot ratio of 5.0. This suggests that a high-rise BTO development may be in the pipeline for the site.

Surrounded by these developments, the shophouse for sale at 125 Lorong 1 Toa Payoh could benefit from the increased footfall in the area as the customer catchment broadens. The construction of new BTO flats in Caldecott and Toa Payoh is promising news for the new owner of this HDB shophouse. As more residential developments rise in the vicinity, the area will attract an influx of new residents.

For more information, please contact Aster See at 98416930, senior marketing director (R063006G) at ERA Realty Network Pte Ltd.

RELATED NEWS
– Eight HDB shophouse units at Bras Basah, Geylang and Kallang put up for sale from $19.5 million
– Two HDB shophouses in Toa Payoh and Ang Mo Kio going for $51 million
– HDB shophouse at Teck Whye Lane on the market for $4.45 million…

It is essential for foreign investors to have a comprehensive understanding of the regulations and limitations surrounding property ownership in Singapore. Although the purchase of condos may be less restricted for foreigners when compared to landed properties, there are still certain rules in place. One such regulation is the imposition of Additional Buyer’s Stamp Duty (ABSD), which amounts to 20% for first-time property purchasers. Despite the additional cost, Singapore’s real estate market has retained its appeal to foreign investors due to its stability and potential for growth. In fact, more and more foreign investors are opting to invest in Singapore Projects, showcasing the attractiveness and potential of the market. Singapore Projects offer a unique opportunity for foreign investors to tap into the thriving real estate market in Singapore.

Singapore’s industrial market continues to show signs of resilience, with JTC recently awarding the tender for an industrial GLS site at Kallang Way to CL Savour Property, a subsidiary of CapitaLand Development. The top bid of $368.901 million is a 14.9% increase from the second highest bid of $317.889 million submitted by a consortium of Soon Hock Group, BHCC Construction and Evermega.

This is the first industrial site to be earmarked for adaptive reuse of a former industrial building. The existing terrace factory on the site will be retained and adapted for continued industrial use. According to Tang Hsiao Ling, director of urban planning and architecture division at JTC, this integration of adaptive reuse is part of a strategic plan to rejuvenate the area sustainably while reducing carbon emissions in the built environment and preserving the industrial legacy of the site.

The 474,772 sq ft site, launched on June 25 as the last of five Confirmed List sites in the 1H2024 IGLS programme, received four bids at the close of tender on Oct 1. It is zoned Business 2 under the master plan and has a maximum allowable gross floor area of 1.23 million sq ft. With a 33-year tenure, the site is also part of a designated food zone and the new development will feature food manufacturing spaces and retail uses to inject vibrancy into the industrial area.

The resilient industrial market in Singapore is also evident in the continuous rise in industrial rents and prices. In the fourth quarter of 2023, rents went up by 0.3%, marking the 13th straight quarter of growth. This trend is expected to continue, with two industrial projects undergoing virtual TOP inspections.…

A sought-after coffee shop located at 253 Choa Chu Kang Ave 1 is now available for purchase through an expression of interest (EOI) with a guide price of $11 million. The shop, which spans 2,540 sq ft, is situated within Keat Hong Shopping Centre – a two-storey HDB commercial development that comprises of coffee shops, a supermarket, as well as other shops and stalls.

This property is zoned for commercial use and holds a 99-year leasehold tenure with 68 years remaining. Currently situated on the ground floor, the coffee shop is tenanted to a coffee shop operator and consists of seven food stalls and a drink stall.

According to Jervis Isaiah Ng, founder of JNA Real Estate, the exclusive marketing agent for this property, potential buyers have the option to operate the coffee shop themselves, renovate and lease it out, or continue leasing it out to coffee shop operators. He also notes that the property does not come with living quarters, making it exempt from Additional Buyer’s Stamp Duty.

In summary, purchasing a condo in Singapore offers a multitude of benefits, including strong demand, potential for increased value, and attractive rental returns. However, it is crucial to carefully evaluate various factors such as location, financing options, government regulations, and market trends. By conducting thorough research and seeking expert guidance, individuals can make well-informed decisions and maximize their profits in the constantly evolving real estate market of Singapore. Whether you are a local investor seeking to diversify your investment portfolio or a foreign buyer in search of a stable and lucrative investment, condos in Singapore provide a compelling opportunity. To learn more about investing in condos, visit Condo.

Keat Hong Shopping Centre is conveniently located within walking distance from South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, which is expected to be completed in 2027. Other amenities such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market are also in close proximity.

The closing date for the EOI is Dec 22 at 3pm.…

‘Desk’ co-living development (1) Keppel has announced its decision to divest its data centre joint venture (JV) to Keppel DC REIT (KDC REIT) for a total gross divestment price of $1.38 billion. As per the deal, KDC REIT will acquire the two fully contracted data centres, Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8), from the JV, which is owned 60% by Keppel’s connectivity division and 40% by Cuscaden Peak Investments Private Limited. The data centres are currently contracted to global hyperscalers from across the cloud services, internet enterprise, and telecommunications sectors on a colocation basis. The development of these data centres was funded by the JV, Keppel’s private fund Alpha Data Centre Fund and its parallel fund (ADCF), as well as co-investors. Upon completion of the proposed transaction, KDC REIT will fully own KDC SGP 7 and KDC SGP 8, with Keppel continuing to serve as the operator and facility manager. Additionally, KDC REIT will also acquire an initial 49% interest in the JV and subscribe for two new classes of securities issued by the Keppel JV for up to $1.03 billion, entitling the REIT to 99.49% of the economic interest from both data centres. KDC REIT will also be given a call option to acquire the remaining 51% stake in the Keppel JV from Keppel by the second half of 2025, which will provide the REIT with an economic interest of 0.51% in the data centres. KDC REIT will also pay an additional $350 million to the JV’s shareholders, ADCF and co-investors, if the campus receives approvals to extend its land tenure lease to 2050. The proposed transaction is expected to be accretive to KDC REIT’s distribution per unit (DPU) by 8.1% and expand its assets under management (AUM) by 36% to $5.2 billion. Keppel’s share of the divestment will be around $280 million, which includes the estimated consideration for Keppel’s 51% stake in the JV and the additional consideration to be paid if the campus is granted a 10-year land tenure lease extension. The JV also owns a vacant land plot earmarked for a third data centre, which is not part of the transaction and will be sub-leased to Keppel’s private funds, Keppel DC Fund II and the upcoming Keppel DC Fund III, with Keppel aiming to develop the third data centre in the campus, KDC SGP 9, with its two data centre private funds. Keppel’s CEO of the connectivity division, Manjot Singh Mann, says that the deal highlights the company’s strengths as a global asset manager and operator to structure deals that deliver strong value creation for its private funds and REIT. He also adds that Keppel’s integrated ecosystem provides access to power and other critical resources, technology know-how, and strong relationships with hyperscalers, making the company well-positioned for success in the data centre business. KDC REIT’s CEO of the manager, Loh Hwee Long, says that the REIT is “excited” to embark on this “landmark deal” as it celebrates its 10th anniversary, having launched its initial public offering (IPO) in 2014. He adds that the acquisition will deliver strong positive cash flows and be immediately DPU accretive, enhancing the portfolio’s income resilience and allowing the REIT to capture potential upside from rental uplifts and capacity expansion. The inclusion of these assets further cements Keppel DC REIT’s market position as one of the largest owners of stabilized data centers in Singapore, where demand is strong and supply tight. The transaction will be executed in stages and is expected to be completed by the end of 2025.

The importance of location cannot be overstated in the realm of real estate investment, a truth that holds particularly true in Singapore. The vicinity of a property can play a significant role in its value, making it a vital consideration. This holds even more weight for condos, as their placement in prime areas or proximity to essential amenities such as top-rated schools, shopping centers, and public transportation hubs can greatly impact their potential for value appreciation. This trend is especially prevalent in highly sought-after locations like Orchard Road, Marina Bay, and the Central Business District (CBD), where property values consistently show an upward trajectory. Families, in particular, prioritize living near reputable educational institutions, heightening the desirability of condos in these areas for investment. Hence, when contemplating investing in a Singaporean condo, thoroughly evaluating its location is vital. This is because the location of a condo has a significant influence on its value, making it a crucial aspect for potential investors to carefully consider.…

Frasers Property has announced a joint redevelopment project with their long-time partner Sekisui House. The site to be redeveloped includes Robertson Walk and Fraser Place Robertson, both of which are currently held under a 999-year lease.

The upcoming mixed-use development will feature 348 residential units, as well as a range of dining and entertainment options. The project is set to begin next year and is expected to be completed by the end of 2028. It is estimated that the new development will have a gross floor area of 30,664 sqm (330,067 sq ft).

When it comes to investing in a condo, securing financing is a crucial component. In Singapore, there are various mortgage options available, but it’s imperative to consider the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan an individual can take based on their income and current debt obligations. Being knowledgeable about the TDSR and consulting with financial advisors or mortgage brokers is essential for investors to make well-informed decisions about their financing choices and avoid excessive borrowing. Furthermore, for more Singapore Projects, exploring various financing options is encouraged to find the most suitable one.

According to CEO of Frasers Property Singapore, Soon Su Lin, the redevelopment is in line with the company’s active asset management strategy. She highlights the potential for the company to maximize returns on their prime 999-year site in the highly desirable location of Robertson Quay.

To carry out the project, Frasers Property and Sekisui House have formed a joint venture, with a 51:49 ownership split respectively. During the redevelopment process, both Robertson Walk and Fraser Place Robertson will continue to be managed by the Frasers Property Group, until operations come to an end on 31 May 2025.…

SLA has recently awarded tenders for two sites located on Henderson Road and Scotts Road. One of the sites, 98 Henderson Road, was awarded to a joint venture between TS Group and The Assembly Place (TAP) to develop a senior co-living accommodation in partnership with Crawfurd Silver Care. The contract includes an initial four-year lease with the option to extend for a second three-year term. The tender for this state-owned property closed with six bids, with the winning bid amounting to $102,888 per month, which is 25.5% higher than the second-highest bid.

Singapore’s cityscape is characterized by soaring skyscrapers and modern amenities. In particular, condominiums are a popular choice amongst both locals and expatriates due to their combination of luxury and convenience. These residences are strategically located in prime areas, making them highly desirable. They offer a variety of facilities such as swimming pools, fitness centers, and round-the-clock security services, elevating the overall standard of living and making them a sought-after option for potential tenants and buyers. For investors, these attractive features result in higher rental returns and a steady increase in property values over time. Singapore Condo is a prominent addition to the real estate market in Singapore, providing top-notch living options for individuals looking for a blend of modern living and convenience.

The property at Henderson Road was previously a student hostel run by Yo:ha, and covers a land area of 77,551 sq ft. It comprises a four-storey building, a single-storey building, and a guardhouse, with a total gross floor area of about 40,361 sq ft. The site will be transformed into fitted apartment units, with sports and recreational facilities as well as hobby-focused spaces and programmes, as announced by SLA on their LinkedIn page on Nov 18. SLA is also exploring the adaptive reuse of other state properties for unique co-living environments, including a potential site with heritage bungalows at Admiralty.

The other site awarded by SLA is located at 31, 31A, and 33 Scotts Road. This trio of colonial-era bungalows was awarded to Heritage At Scotts, a company that curates and manages select F&B brands in Singapore. The company submitted the sole monthly rental bid of $50,000 during the price-quality tender that closed on Aug 7. The three bungalows sit on a plot of 36,670 sq ft and has a total gross floor area of about 11,410 sq ft. They have a five-year tenure with the option to extend for another four years.

According to SLA, Heritage At Scotts currently operates lifestyle offerings within black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. With the addition of the bungalows at 31, 31A, and 33 Scotts Road, they will form a larger lifestyle enclave with a dedicated walkway linking the different properties and landscaped social spaces. This tender was launched in collaboration with the Singapore Tourism Board, with the aim of creating a creative lifestyle concept such as experiential retail, F&B, wellness, or beauty concepts.…