Category: Real Estate

Hektar REIT Realised Net Income higher by 187% for FY2022

  • Revenue is substantially higher by 21.6%
  • Significantly improved Net Property Income by 24.8%
  • High dividend yield of 11.4% and impressive Annual Return of 60.8%
  • Increase in Hektar REIT Portfolio Valuation by RM41.6 million

Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced its annual year results for the financial year ended 31 December 2022 (FY2022) with revenue of RM117.5 million, a substantial increase of 21.6% compared with the RM96.6 million for FY2021. The higher revenue is attributed to the increased rental income, including high turnover rent, increased car park income and higher hotel occupancy with an increase in the average room rates. Hektar REIT registered a Net Property Income (NPI) of RM58.7 million, a significant increase of 24.8% compared to RM47 million in the preceding year. Realised Net Income was RM36.4 million, a notable increase of 187% compared to the previous year. The dividend yield for FY2022 was 11.4% which was higher than the pre-Covid period (FY2019), with an impressive annual return of 60.8% based on the share price performance. The Net Asset Value (NAV) per unit for FY2022 was at RM1.27, an increase of 9% compared to RM1.16 in the previous

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

Portfolio Performance for FY2022:
FY2022 was the year of recovery for the retail sector after the Covid-19 pandemic and the various restrictions & closures it brought. Hektar REIT’s portfolio occupancy showed resilience at 82% as the majority of its assets maintained more than 80% occupancy rate. Our mall, Kulim Central, located in Kedah, continues to grow post refurbishment as its occupancy exceeds 96% with a double-digit valuation increase year-on-year. The Management successfully managed to attract 178 new & existing tenants, covering 22.8% of the total Net Lettable Area (NLA), equivalent to 466,357 sq. ft.

Despite the challenging retail environment, the Management remains steadfast in boosting occupancies by focusing on retaining key tenants, reviewing its current mall strategies, and working with innovative and creative retailers who are expected to bring the desired impact to the mall. According to the Manager, good brands are still expanding and in 2022, new & refreshed retailers were introduced in the malls, such as 4Fingers Crispy Chicken, Machines, Sushi Go, Oppo, Switch, Samsung, Myeong Dong Topokki, Siam Restaurant, Gigi Coffee, Yole Yoghurt, Rollney, Felancy, Pierre Cardin, Vivo and Madam Croffle to name a few.

All malls under the portfolio experienced an uptrend in visitor traffic following Malaysia’s transition to endemicity after the COVID-19 pandemic, showing positive signs of a return in shoppers’ confidence at Hektar malls. Overall visitor footfall count increased to 21.1 million in 2022, a massive jump of 60% compared to last year. It was primarily due to the intensified marketing initiatives, including sales-driven promotional campaigns, various events & activities that were implemented to cater to our loyal shoppers & patrons and Corporate Social Responsibility related events to serve the communities in which our shopping centres operate. All these initiatives have assisted our tenants’ sales to inch closer to pre-pandemic levels of 2019 and helped them improve their cash flow by enjoying reduced occupancy costs.

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: “Hektar REIT has shown tremendous persistence & resilience in FY2022 and has worked closely with our tenants, shoppers & other key stakeholders. Malls are evolving into lifestyle-centric places for people to meet, socialise, interact and learn. We are confident and believe they will remain the preferred destinations for entertainment, social activities and shopping amongst Malaysians as long as our malls stay relevant.”

“Our focus is on initiatives that will benefit our malls and retailers in the long run through implementing focused strategies that will bring improvements in visitor footfall and encourage higher customer spending, resulting in a continuous positive upward cycle and sustainable growth. Our results for FY2022 have shown that our strategies are yielding the desired results. However, we remain cautiously optimistic about the 2023 outlook given the volatile economic landscape driven by hawkish monetary policy in response to inflationary pressure. We will continue to work harder to provide a fulfilling shopping experience to our loyal patrons and sustainable returns to our Unitholders.”

Sustainability & ESG Awards for FY2022:
Hektar REIT embarked on energy efficiency & optimisation initiatives in 2017, in line with our commitment and goal to reduce our carbon footprint. The Management Team has been clear on its sense of responsibility, commitment and sincerity towards implementing initiatives and strategies that mitigate climate change associated risks, provide a positive impact on the community, uphold the best governance practices which are also aligned with United Nations Sustainable Development Goals (UNSDGs).

Hektar REIT is a constituent of the FTSE4Good Bursa Malaysia Index and the rating was upgraded from a 3-star to a 4-star in its latest evaluation by FTSE Russell in June 2022. The Management team remains committed to continuously looking at and adopting sustainability-linked initiatives as part of the core strategy & decision-making process. We will continue to enhance our efforts in managing material sustainability matters, including climate change adaptation, pollution prevention, water and waste management, and managing energy consumption, including incorporating renewable energy in our energy mix moving forward. Hektar REIT’s Assets Under Management (AUM) comprise five neighbourhood malls and one regional mall. Since acquiring these properties, our focus has always been on serving our community.

For FY2022, Hektar REIT’s efforts have been recognised and rewarded with three awards for Sustainability & ESG Initiatives:

  • Hektar REIT has been awarded “Company of the Year” under the “Stakeholder and Community Sustainability Engagement Initiatives” category of the Sustainability & CSR Malaysia Awards 2022.
  • Hektar REIT was awarded two Silver awards at The Edge Malaysia ESG Awards 2022:
  • Most Improved Performance Award Over Three Years (for Market Cap below RM300M); and
  • Property & REIT Sector Award.

The awards recognise and honour Malaysian companies’ commitment to developing and enhancing their business operations according to the Environmental, Social and Governance (ESG) principles.

4Q 2022 Financial Results:
For the fourth quarter ended 31 December 2022 (4Q 2022), Hektar REIT recorded revenue of RM27.9 million, which is 11.7% higher than RM25 million for 4Q 2021. Net Property Income was RM10 million for the quarter under review, which was lower by 18.9% compared to the RM12.4 million in the corresponding quarter of the previous year due to the higher upkeep, repair & maintenance expenses that were incurred to cater for improving domestic demand & normalisation of economic activities.

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

The 8th Edition REITS Asia Pacific 2023 held on 16th March 2023

Asia’s highly established REITs and real estate securitization event, REITs Asia Pacific 2023 is back again for the 8th edition. The prior REITs Asia Pacific conferences were trailblazers and were instrumental in developing investor interest in the Singapore REIT market. Next year, the event will continue to play host to the Asia Pacific REIT industry recognition event – The Asia Pacific “Best of the Breeds REITS Awards” 2023.

Investors today face concerns over rising inflation and higher interest rates. This is in stark contrast to the past few decades of low interest rates. Nevertheless, there are still attractive opportunities in Asian REITs where new growth drivers are emerging.

There are new growth drivers in the Asian REIT market, such as the growth of e-commerce and logistics, which are driving demand for warehouses and distribution centres. Additionally, the rapid urbanization in Asia has resulted in increasing demand for residential and commercial properties, providing significant investment opportunities for REITs.

Meanwhile the rising adoption of cloud-based services is driving the construction of hyperscale data centres in Asia. The data centre market in Southeast Asia is expected to grow at a compounded average growth rate of 6% from 2019-2025, with Singapore having the greatest potential followed by Indonesia, Malaysia, Thailand and Vietnam.

Across Asia, demand for technology parks is also surging, in part driven by government policies seeking to leverage on innovation to drive economic growth. In India, new technology parks are being positioned to be production hubs aimed at both domestic and international markets. In China, demand for technology parks is rising amid the government’s push for greater technological self-reliance.

With increasing awareness and understanding on Environmental, Social and Governance (ESG) and sustainable investing, investors are starting to appreciate how sustainability impacts the valuation of the REITs they are investing in. The bottom lines of REITs are closely linked to how its operations are managed. Sustainable REITs are able to better manage their energy usage and greenhouse gas emissions while enjoying better tenant retention and higher occupancy rates. The demand for sustainable buildings in Asia Pacific currently exceeds supply, allowing landlords to charge a premium above prevailing rents.

The diversity within Asia’s REITs markets means that active managers can leverage on the unique characteristics of the different segments and their cyclical dynamics to increase portfolio yield.

The Asia Pacific Best of the Breeds REITs Awards 2023 features some of the market’s most influential market makers and thought leaders and will celebrate the crowing of Asia’s most outstanding players in the REITs market.

Choices Of Award Categories:
– Retail REIT
– Office REIT
– Industrial REIT
– Hospitality REIT
– Healthcare REIT
– Islamic REIT
– Alternative Asset Class REIT
– Retail & Office Hybrid
– Best CEO (Asia Pacific)
– Best CFO (Asia Pacific)
– Best Investor Relations (Asia Pacific)
– Best Real Estate IT software Award
– Diversified REITS

For media partnerships and media passes please contact:
Mandy Koh
Email: marketing@pinnaclegroup.global
Tel: +65 6444 9049 / +65 6444 6549

Subang Parade Celebrates CNY with Persatuan Rumah K.I.D.S and Rumah Charis

  • Mall brings festive cheer to children with movie screening of “Puss in Boots” and special treats

Subang Parade, the popular neighbourhood mall located in the heart of Subang Jaya since 1988 and a core property owned by Hektar REIT, today celebrated the lunar new year with children and representatives from Persatuan Rumah K.I.D.S and Rumah Charis with a fun-filled programme including a movie and special treats.

Persatuan Rumah K.I.D.S and Rumah CHARIS with MBSJ councillor and MPP Zone 1 Chairman En. Chia Yew Ken, Senior General Manager of Subang Parade En. Nubly Zainuham bin Ambotang, and Hektar REIT officials.

The programme, which was held at the West End Concourse of the mall, was graced by the attendance of Majlis Bandaraya Subang Jaya (MBSJ) councillor and Majlis Perwakilan Penduduk (MPP) Zone 1 chairman En. Chia Yew Ken. Hosted by Subang Parade management, the event was led by Senior General Manager En. Nubly Zainuham bin Ambotang and attended by officials from Hektar REIT.

To kick start the event, the children were entertained by mascots and were then treated to lunch at McDonald’s, where the festive cheer really took off as invited guests, employees of Hektar REIT and children bonded together over their favourite meals. Angpows were given to the children much to their delight, while a Box of Blessings and cheques were presented to representatives from Persatuan Rumah K.I.D.S and Rumah Charis. After lunch, the children were surprised with a screening of “Puss in Boots” movie at Golden Screen Cinemas (GSC) located on the first floor in the shopping centre. The unique thematic hall for children was reserved especially for the kids by GSC.

Senior General Manager of Subang Parade, En. Nubly Zainuham bin Ambotang, who wished everyone a healthy and happy Year of the Rabbit, said, “As we all busy ourselves in this festive season meeting up with family and friends, let us not forget those who are in need of a little love and kindness from all of us. We are happy although it was just for a few hours, to be able to put a smile on the children’s faces and hopefully give them a day to remember.”

MBSJ councillor and MPP Zone 1 chairman En. Chia Yew Ken said, “Every little bit counts, including giving the kids a safe and healthy environment to grow and mature to be well-adjusted adults. It is extremely important that children are raised in an atmosphere which is family-based, as this helps in ensuring their wellbeing. This is what Persatuan Rumah K.I.D.S and Rumah Charis strives to do”.

En. Chia also noted that according to OrphanCare, an NGO, there were an estimated 64,000 children living in registered and unregistered childcare institutions in both government and private orphanages.

Subang Parade: https://www.subangparade.com.my/

Women in power take centre stage at PropertyGuru Asia Real Estate Summit VIP Cocktail Party

  • PropertyGuru takes a stand in support of Diversity, Equity and Inclusion (DEI) in this newly launched annual celebration of gender quality
  • The exclusive gathering aims to highlight the valuable contribution of female leaders in real estate and tech
  • Four outstanding women leaders from around the region were honoured at the event

PropertyGuru Group (NYSE: PGRU), (PropertyGuru or the Company), Southeast Asia’s leading property technology company, launched its annual celebration of outstanding female leaders in the region at the PropertyGuru Asia Real Estate Summit (ARES) VIP Cocktail Party on 8 December 2022 in Bangkok, Thailand.

Themed ‘Celebrating Power Women in Real Estate’, this exclusive gathering sponsored by PropertyGuru for Business stresses the importance of equality in real estate and tech, which was among the crucial themes discussed at ARES 2022 during its thought leadership summit themed ‘Adaptive Reinvention’.

While more diverse representation in real estate has improved, the lack of women in senior leadership roles is still apparent. A study conducted by Urban Land Institute’s Women’s Leadership Initiative in major Asia Pacific countries revealed that merely 37 percent of women are in top positions, while 50 percent identified how company policies, including maternity/familial leaves and flexible work hours, are critical to their success and advancement.

PropertyGuru Group is committed to driving diversity, equity and inclusion in the workplace and alongside their partners, “We are building for the future – a future that is more equitable, a future where more of us can have a fair shot at equal opportunities in life. Be it housing, job opportunities, community contribution, and more” said Ho Shyn Yee, Managing Director of Data and Software Solutions and executive sponsor of Women in Leadership at PropertyGuru Group.

This year, ARES’ focus on DEI is greater than ever, granting the stage to over 50 percent of women and members of the LGBTQ+ community. To showcase their valuable contributions to the industry, the ARES VIP Cocktail Party honoured four outstanding women leaders from across the region, such as Cyndy Tan Jarabata, the President of TAJARA Leisure & Hospitality Group, Inc. and the first female chairperson of the PropertyGuru Philippines Property Awards.

Upon receiving the honour, she said: “There is still so much opportunity in the Philippine property sector and no limit to what we can achieve. We need to be consistent in creating value for our community and differentiate offerings in order to build better in today’s built environment.”

Loemongga Haoemasan, the President Director at Asiana Group (Indonesia) and an esteemed speaker at this year’s ARES, was also one of the honourees of the evening. With this recognition, she hopes that, “PropertyGuru’s continued support to equality will open many doors and opportunities for other women in the industry and we can inspire others.”

Sarena Cheah, Managing Director of the Property Division at Sunway Berhad, who was also the Real Estate Personality of the Year recipient at the PropertyGuru Asia Awards Malaysia in 2020, echoes her sentiment, saying, “I hope that each of us continue to celebrate the Power in Women for many years to come as we pursue in creating positive influences to our homes, society, and nation, together.”

Suphin Mechuchep, the Chairperson at JLL Thailand and PropertyGuru Thailand Property Awards, expresses her gratitude for the honour, “When I chose to start my work life in real estate 30 years ago, I knew that I would have a great opportunity to develop my career path in this major sector that touches everyone’s life. But I didn’t expect to come this far. I feel very delighted and honoured to be named as one of the ARES Power Women.”

As a token, these inspiring women were given equally inspiring necklaces from Fugeelah. Established by Deborah Henry in 2017 with support from UNHCR & Rotary Malaysia, this women-led conscious jewellery brand has been at the forefront of educating, employing, and empowering refugee children and youth. The brand’s main objective is to contribute to sustainably managing Fugee School, a non-profit organisation, so it can continue to offer free education and support for all refugees.

Magali Du Parc Crosta, co-founder and senior strategic advisor at Baan Dek Foundation, as well as founder of Thai social enterprise Dao Ethical Gifts, was among the notable women present at the celebration. As an enterprise that empowers women in marginalised communities, through the establishment of Dao, Magali “envisions a world where vulnerable women are able to realise their childhood dreams, gain a newfound sense of ambition, and thrive in safer communities.”

PropertyGuru Asia Real Estate Summit (ARES 2022) is supported by official MICE partner Thailand Convention and Exhibition Bureau (TCEB); official partner PropertyGuru for Business; official channel partners History and Lifetime; official magazine and podcast Property Report by PropertyGuru; official PR partner Artemis Associates; media partners d+a Magazine, Esquire PH, Hot Magazine, People Asia, REm Thailand, Southeast Asia Globe, The Grid, and Think of Living; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; and supporting associations Green Building Consulting & Engineering, IFC – Building Resilience Index, IFC – Excellence in Design for Greater Efficiencies, and REHDA Institute.

For more information, visit AsiaRealEstateSummit.com or email ares@propertyguru.com.

PropertyGuru Group contacts:
Speakers & Corporate:
Richard Allan Aquino
Head of Brand & Marketing Services
Tel: +66 92 954 4154
Email: allan@propertyguru.com

Sponsorships:
Kanittha Srithongsuk
Regional Manager of Awards Sponsorship
Tel: +66 87 708 5237
Email: kanittha@propertyguru.com

PropertyGuru Asia Real Estate Summit 2022 calls for responsible innovation and adaptive reinvention

  • Sustainability advocates and diversity champions lead thought-provoking conversations on inclusivity and smart solutions
  • Global experts and senior representatives from the International Finance Corporation/World Bank Group, Economist Intelligence Unit, UN-Habitat gave keynote presentations
  • Popular web channel Never Too Small founder Colin Chee is named PropertyGuru’s Visionary of the Year while Indonesia-based company Rebricks wins the ARES Tech Innovation Award
  • PropertyGuru Group’s enterprise solutions, PropertyGuru for Business, launches at ARES

PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, has returned its thought leadership platform, the PropertyGuru Asia Real Estate Summit (ARES), to the physical stage, drawing the most brilliant minds from around the world to the Thai capital.

ARES Leaders Panel
ARES Visionary of the year

Following the sucessful virtual summit editions in 2020 and 2021, the 2022 edition of PropertyGuru Asia Real Estate Summit, supported by the Thailand Convention and Exhibition Bureau (TCEB) and PropertyGuru for Business, is themed ‘Adaptive Reinvention.’ The day-long programme focused on the way forward for the real estate and tech sectors as they emerge from the pandemic era and continue reckoning with climate realities.

Emceed by seasoned broadcaster Tina Ryan, ARES 2022 took place 8 December 2022, marking 15 years since the foundation of PropertyGuru Group. The 2022 edition of the Summit also coincided with the launch of its enterprise brand, ProeprtyGuru for Business.

Hari V. Krishnan, chief executive officer and managing director of PropertyGuru Group, said, “Today, PropertyGuru completes fifteen years of operations, and we mark it with the launch of our enterprise solutions brand ‘PropertyGuru For Business’, that aims to guide enterprise clients such as property developers, agencies, banks, valuers, city planners and policy makers. It is our ambition to bring transparency within the real estate journey and create a trust platform for home seekers and our business partners. By harnessing the integrated power of our proprietary data, technology and people, we hope to empower our business partners and customers to make better informed decisions.

At an enterprise or a city level, these decisions can impact thousands, or even millions of people, and PropertyGuru For Business is here to guide our clients to maximise growth opportunities, while reducing risk and uncertainty. We believe PropertyGuru for Business is a timely launch as we hope to equip our enterprise clients with the right data, tools and information to be able to navigate the uncertain economic conditions that lie ahead and be better prepared to serve their customers.”

Jeremy Williams, managing director for marketplaces at PropertyGuru Group, said: “For the eighth year, the PropertyGuru Asia Real Estate Summit has gathered the brightest minds, top-level business leaders, and decision-makers in the property and technology sectors from around the world. Over these eight years, our goal for PropertyGuru Asia Real Estate Summit has remained constant: to educate, innovate and inspire-sharing ideas, inspiring innovation, and developing practical solutions that can help improve our built environments.

“Our theme this year is adaptive reinvention. We will focus on how our cities, communities and built environments can adapt to changes and how we, the inhabitants and developers of these environments, can use best practices and lessons from the past to build the communities of tomorrow.”

More than 40 global experts from around the world flew in for the summit at The Athenee Hotel, a Luxury Collection Hotel, Bangkok where they issued and renewed a call for adaptation and mitigation in a world changed by the coronavirus and global warming. The discussions and presentations challenged the audience-in addition to viewers tuned in to the live stream of the Summit on its official YouTube and Facebook channels-to exercise critical thinking in the areas of sustainability, inclusivity, diversity, and creativity after the pandemic.

The 8th PropertyGuru Asia Real Estate Summit was thematically divided into four segments: Restart/Rebound; Revive/Reboot; Rethink/Reset; and Reimagine/Reinvent.

The programme opened with a call to action on urban change from Stephen Oehme, the managing director of Quantum Thailand Ltd and a former board member of Burj Khalifa Dubai. The first segment of the programme also included a keynote on sustainability by Erastus Njuke Ndugire, programme manager for the City Investment Facility at the United Nations Human Settlement Programme (UN-Habitat) and a keynote on the state of Asia’s current macroeconomy by Syetarn Hansakul, Asia Analyst for the Economist Intelligence Unit.

The second segment of the summit included a keynote on financing instruments and climate investments in property businesses by Kim-See Lim, regional director of East Asia and the Pacific at the International Finance Corporation (IFC)/The World Bank Group, as well as a keynote on humanitarian tech by Illac Diaz, founder of Liter of Light Foundation and winner of PropertyGuru’s Visionary of the Year award in 2020. Tech entrepreneur Dustin Jefferson Onghangseng also presented a showcase of comprehensive air sensor uHoo, winner of the 2021 PropertyGuru Tech Innovation Award.

The second segment ended with a discussion on the property rights of the LGBTQI+ community in Asia, moderated by drag artist and television host Pangina Heals, with panellists Nick Myers, founder and CEO of RedFox AI; Ramil Andag, SOGIESC rights officer of APCOM Foundation; and William Tan, real estate advisor and co-founder of Prident and Haus of Pride.

The third segment, opened with a discussion on data-driven sustainable affordable housing solutions panel (co-presented by REHDA Institute) featuring Dr. Nai Jia Lee, head of real estate intelligence at PropertyGuru Group, and Ryan Ip, CFA, MRICS, research director and head of land and housing at Our Hong Kong Foundation, with moderator Tan Sri Datuk Eddy Chen Lok Loi, trustee of REHDA Institute and group managing director of MKH Berhad. International broadcaster Manisha Tank led the following discussion that focused on smart post-Covid development strategies, with panellists Josh Chye, partner and head of tax at HLB Mann Judd and board member and treasurer of the Property Funds Association of Australia; Stephen Pimbley, founding partner and director of SPARK Architects; Winston Lee, director of special projects at PropertyGuru Group; and Ir. Dr. Zulhkiple A. Bakar, managing director of Perunding ZAB Sdn Bhd.

The third segment continued with the Design keynote, delivered by Marshall Blecher, founding partner of MAST, the Copenhagen-based architecture studio working with water to create innovative, open and sustainable spaces. Another panel discussion, moderated by Variety media analyst and correspondent Heidi Chung, featured leading voices pushing for a sustainability-first mindset among developers, investors and consumers in Asia: Dr. Kessara Thanyalakpark, managing director of Sena Development Public Company Limited; Kristin Thorsteins, regional head of partnership growth, APAC West, IWG; Rachanee Chanawatr, Asia-Pacific principal of the International Financial Corporation/World Bank Group; Stephen Oehme; and Thien Duong, general director for Vietnam at GroupGSA.

The segment closed with a discussion among powerful women leaders: Coco Liu, chief regional officer of APAC, HLB; Jean Jacquelyn de Castro, CEO of ESCA Incorporated; Loemongga Haoemasan, president director of Asiana Group; and Shyn Yee Ho-Strangas, managing director of data and software solutions at PropertyGuru Group, with Palanca-winning author and journalist Jessica Zafra as moderator.

ARES 2022’s final segment gathered some of today’s most influential content creators and personalities to discuss the effects of new media on property seekers: Jett Gunther, video producer and news anchor for Thaiger; Nelly Hrnic, creator of Nelly’s Life and Making It Happen; and Wil Dasovich, television personality and creator, with the special participation of Illac Diaz.

The final segment was also an opportunity to present several honours to outstanding game-changers and innovators. PropertyGuru Tech Innovation Award, a benchmark of excellence for startups and SMEs with game-changing products and innovations in proptech, was presented to Rebricks, an Indonesian company that transforms rejected waste into useful building materials. Jules Kay, general manager of PropertyGuru Asia Property Awards & Events, had engaged Novita Tan and Ovy Sabrina, founders of Rebricks, in a fireside chat about the journey of trash to eco-friendly bricks. The company bested contenders from the US and Thailand for the award.

Manav Kamboj, chief technology officer of PropertyGuru Group, was on hand to present the Developer’s Choice award to the winner of PropertyGuru Hackathon 2022: Selling Sunsets, a market insights and campaign tool. Kamboj also delivered the highly anticipated Guru Keynote.

The 2022 Visionary of the Year award was presented to Colin Chee, founder of popular web series Never Too Small, whose unique, distinctive storytelling skills and passion for small-footprint residential architecture and design have inspired a global movement. Chee, the fourth overall recipient of this honour, also presented a case study on repurposed structures.

Following the summit, distinguished guests headed to an exclusive gathering at the ARES VIP Cocktail Part: Celebrating Power Women in Real Estate, sponsored by PropertyGuru for Business, an occasion that honoured four influential women leaders who push for gender diversity and equality in their respective fields.

The 8th PropertyGuru Asia Real Estate Summit was part of the ‘PropertyGuru Week’, which included the presentation of the 17th PropertyGuru Asia Property Awards Grand Final. The presentation served as a culmination of the 2022 Awards series of in-person and virtual gala celebrations.

PropertyGuru Asia Real Estate Summit (ARES 2022) is supported by official MICE partner Thailand Convention and Exhibition Bureau (TCEB); official partner PropertyGuru for Business; official channel partners History and Lifetime; official magazine and podcast Property Report by PropertyGuru; official PR partner Artemis Associates; media partners d+a Magazine, Esquire PH, Hot Magazine, People Asia, REm Thailand, Southeast Asia Globe, The Grid, and Think of Living; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; and supporting associations Green Building Consulting & Engineering, IFC – Building Resilience Index, IFC – Excellence in Design for Greater Efficiencies, and REHDA Institute.

For more information, visit AsiaRealEstateSummit.com or email ares@propertyguru.com.
PropertyGuru Group contacts:

Speakers & Corporate:
Richard Allan Aquino
Head of Brand & Marketing Services
Tel: +66 92 954 4154
Email: allan@propertyguru.com

Sponsorships:
Kanittha Srithongsuk
Regional Manager of Awards Sponsorship
Tel: +66 87 708 5237
Email: kanittha@propertyguru.com

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

  • Award-Winning Pool of Accomplished Developers Gather in Bangkok for Full Return of Awards Series Finale

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:
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Richard Allan Aquino
Head of Brand & Marketing Services
M: +66 92 954 4154
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M: +66 93 293 9794
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Nate Dacua
Media Relations & Marketing Services Manager
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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.

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

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 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.

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.

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 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]
Released for Primo Service Solutions PCL by MT Multimedia Co Ltd
Thiyaporn Sriadunphan (Dah), T: +66 (0) 87 556 6974, E: thiyaporn.s@mtmultimedia.com

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

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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Hektar REIT’s ESG Commitment Rewarded with Two Awards

Hektar REIT The Edge Malaysia ESG Awards 2022
Silver Award for Most Improved Performance over Three Years (Below RM300M Market Cap) and Silver Award Under Property & Reit Sector

  • Hektar REIT wins big at the inaugural The Edge Malaysia ESG Awards 2022
  • The awards were aimed at honouring Malaysia’s best performers in ESG

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/

Hektar REIT’s Portfolio Benefits from Retail Recovery

  • NPI Goes up by 77% & Realised Net Income Increased by 862% in 3Q 2022
  • For 3Q 2022, Revenue recorded a substantial increase of 62%
  • For YTD September 2022, NPI goes up by 40% and Realised Net Income by 256%
  • Earnings supported by a continued recovery in the retail sector

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/