Category: Real Estate

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

COMPLETE LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES

13th PropertyGuru Asia Property Awards (Singapore)

DEVELOPER AWARDS                            

Best Developer                                 
WINNER: GuocoLand

Best Residential Developer                            
WINNER: UOL Group Limited        

Best Landed Developer                  
WINNER: Bukit Sembawang Estates Limited

Best Mixed Use Developer                              
WINNER: Frasers Property Singapore                           

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

Best Hospitality Developer                             
WINNER: UOL Group Limited

Best Lifestyle Developer                                  
WINNER: Hoi Hup Realty Pte Ltd

Best Sustainable Developer                           
WINNER: UOL Group Limited

Best Breakthrough Developer                        
WINNER: Da Vinci Land                            

Best Co Living Operator                 
WINNER: The Assembly Place

DEVELOPMENT AWARDS

Best Integrated Development                       
WINNER: Lentor Modern by GuocoLand

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

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

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

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

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

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

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

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

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

Best Waterfront Condo Development                           
WINNER: Riviere by Frasers Property Singapore                            

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

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

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

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

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

Best Industrial Development                         
WINNER: CT FoodNEX by Chiu Teng Group                                              

DESIGN AWARDS                            

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

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

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

Best Private Condo Architectural Design                     
WINNER: Lentor Modern by GuocoLand                     

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

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

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

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

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

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

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

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

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

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

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

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

BEST OF SINGAPORE AWARDS                            

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

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

SPECIAL AWARDS                            

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

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

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

PUBLISHER’S CHOICE                            

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

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

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

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

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

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

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

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

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

PROPERTYGURU CONTACTS:

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

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

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

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

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

New analysis of all residential properties across Australia’s three largest capitals has identified more than 655,000 sites suitable for the construction of a granny flat, offering a solution to help ease the housing shortage.

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

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

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

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

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

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

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

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

Top Sydney council regions and suburbs

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

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

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

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

Top Melbourne council regions and suburbs

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

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

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

Top Brisbane council regions and suburbs

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

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

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

Granny flat development benefits

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

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

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

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

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

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

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

About Archistar

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

About Blackfort

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

About CoreLogic

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

COMPLETE LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES

6th PropertyGuru Asia Property Awards (Australia)

DEVELOPER AWARDS                     

Best Developer                                  
WINNER: Aqualand

Best Lifestyle Developer                                  
WINNER: Salvo
HIGHLY COMMENDED: Aqualand

Best Luxury Developer                   
WINNER: Aqualand

Best Luxury Boutique Developer                   
WINNER: Skyland Group

Best Mixed Use Developer                              
WINNER: Aqualand

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

Best Breakthrough Developer                        
WINNER: Luisant Queensberry Pty Ltd.

DEVELOPMENT AWARDS

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

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

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

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

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

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

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

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

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

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

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

Best Luxury Lifestyle Development                               
WINNER: Aura by Aqualand

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

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

Best Heritage Development                           
WINNER: Coppin Lodge by Enduro Properties

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

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

Best Waterfront Housing Development                       
WINNER: Amorel by Capital Luxury Residences

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

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

Best Smart Home Development                   
WINNER: Aura by Aqualand                            

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

DESIGN AWARDS

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

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

Best Luxury Apartment Architectural Design                               
WINNER: Aura by Aqualand

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

Best Luxury Apartment Interior Design                        
WINNER: Aura by Aqualand                            

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

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

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

BEST OF AUSTRALIA AWARDS                            

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

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

SPECIAL AWARDS

Special Recognition in ESG                             
WINNER: Mark Moran Group

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

PUBLISHER’S CHOICE

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

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

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

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

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

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

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

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

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

PROPERTYGURU CONTACTS:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

About Lincotrade

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

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

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

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

Assetwise (SET: ASW) Joins TOKYO TATEMONO in 2nd Joint Venture, Targeting Campus Condo Market near Burapha University

  • Venturing Together to Develop the ‘Kave Coco Bang Saen’ Project with a Project Value of over 2,000 Million Baht

Assetwise PCL (SET: ASW), in a continuous effort to strengthen and grow in the real estate market, has teamed up with the leading Japanese real estate giant, TOKYO TATEMONO, to jointly invest in the development of the “Kave Coco Bang Saen” project, valued at over 2,000 million baht, targeting the Campus Condo market near Burapha University and reaffirming their leadership position.

Mr. Kromchet Vipanpong, CEO of Assetwise Public Company Limited (ASW), a leading real estate developer in the lifestyle segment with the concept of “Happiness Designed for You” or “We Build Happiness,” says that ASW is leading the charge to increase strength and grow in the real estate market. Most recently, ASW entered into a joint venture with Tokyo Tatemono Asia Pte. Ltd., subsidiary of Tokyo Tatemono Co.,Ltd Being the leading and the long history real estate company in Japan, to develop the “Kave Coco Bang Saen” condominium project, located near Burapha University, with a project value of over 2,000 million baht. This successful collaboration further solidifies ASW’s leadership in the Campus Condo market, focusing on condominiums located near educational institutions, with ASW holding 51% of the shares and Tokyo Tatemono holding 49%.

“This joint venture marks the second project between our company and Tokyo Tatemono, working together to create residential solutions that cater to the lifestyle of the new generation. It reaffirms the confidence Tokyo Tatemono has in our company as a leader in the Campus Condo market and the lifestyle-oriented real estate market in Thailand. Tokyo Tatemono, a reputable and well-established Japanese listed on the Japanese stock exchange, has a diverse portfolio of real estate developments, including residential and commercial properties, such as hotels, golf courses, and office buildings. They are known for their attention to detail and commitment to developing high-quality projects. In 2022, Tokyo Tatemono’s revenue reached up to 86,000 million baht, with registered capital of 24,000 million baht,” states Mr. Kromchet.

As for the “Kave Coco Bang Saen” project, it consists of an 8-story condominium comprising 4 buildings with 974 units ranging from 23 to 34.50 square meters each, situated on over 8 rai of land near Burapha University. The project is surrounded by a vibrant community of students and working professionals. Starting at 1.59 million baht a unit, the project’s total value amounts to 2,000 million baht. This condominium features a distinctive, modern, and unique design that combines fun and flexibility, catering to diverse preferences and lifestyles of the new generation. It stands out with its spacious and contemporary common areas, offering various trendy amenities to support the creative endeavors of young individuals endlessly. These amenities include a Music Studio, Meeting Chamber, Learning Hub, Fit Studio, and Kave Theater, which have been well-received in previous Kave brand projects. Prior to this collaboration, ASW and Tokyo Tatemono jointly invested in the “Atmoz Oasis Onnut” project, comprising 1,110 units with a project value of 2,200 million baht.

The CEO of ASW, in discussing the real estate market in Chonburi province, highlighted its remarkable and continuous growth. Chonburi is one of the areas in the Eastern Economic Corridor (EEC), which has seen significant infrastructure development, including projects like the Motorway (Pattaya-Map Ta Phut), High-Speed Rail (Bangkok-Rayong), Laem Chabang Phase 3 Deep Seaport, and the High-Speed Rail Linking 3 Airports (U-Tapao-Suvarnabhumi-Don Mueang). The High-Speed Rail project will connect Don Mueang Airport, Suvarnabhumi Airport, and U-Tapao Airport, covering a distance of over 220 kilometers, and will utilize an area in Sri Racha district, Chonburi, spanning over 25 rai as one of its stations.

Chonburi province also has plans to become a hub for digital innovation and industry promotion, developing digital talents. There are also plans to establish a comprehensive medical innovation center to support advanced medical research and innovation. Additionally, Chonburi aims to be a significant tourist destination, attracting both local residents and working professionals, as well as foreign executives, second-home buyers, and investors looking for rental properties. This development will positively impact the real estate market in the province, with an estimated 8.4% average increase in new residential addresses entering the market and a 5.6% average increase in new sales per year during 2023-2025.

The focus on the “Bang Saen” area, which is home to the renowned Burapha University, is also noteworthy. Burapha University is part of the special economic promotion project for genomics medicine, supporting comprehensive medical and healthcare businesses, including an operating center at the university’s Faculty of Pharmaceutical Sciences with an area of over 3 rai and an investment budget of 1,250 million baht. The plan is to establish a center for DNA testing and data storage for genomics in Thailand, promoting advanced medical research and elevating Thailand’s healthcare to a leading global level.

Furthermore, Bang Saen is a popular seaside tourist destination that never sleeps, attracting tourists as well as being a gathering place for the lifestyle of the new generation, including the more than 25,000 students from Burapha University, residents, workers, and tourists. This has created a demand for condominium-type residential properties, both from students seeking long-term accommodations for their studies and some students’ parents who buy properties for their children to live in during their studies and later sell or rent out for a good return on investment. Additionally, the area attracts investors, workers in the surrounding large industrial estates, and tourists who enjoy the lifestyle in Bang Saen.

Mr.Tajima, Managing Executive Officer and Director of the Overseas Business Division at Tokyo Tatemono Co., Ltd., states that the company recognizes the potential of the “Kave Coco Bang Saen” project, which is located in an area with high purchasing power within the Eastern Economic Corridor (EEC). All projects under the Kave brand of ASW have received significant positive feedback from customers, including both residential buyers and investors seeking rental properties for good returns. The company is confident that the Kave Coco Bang Saen project will also be highly successful.

“We have confidence in ASW, a real estate development company with a broad vision, dedicated to elevating the quality of living and adding value in the future. We have seen success with over 50 quality real estate projects, as well as the commitment to expand growth in various markets. This joint venture will lead to another quality project and further strengthen our growth together,” Mr. Tajima says.

ASW conducts real estate development focusing on high-rise and low-rise residential projects in high-potential locations. Their projects are designed with the concept of “Happiness Designed for You” or “We Build Happiness,” and they have developed over 50 condominium and housing projects under various brands within the group, catering to diverse lifestyles. These brands include Kave, Atmoz, Modiz, Esta, and The Honor, with a total project value of over 55,300 million baht. The projects consist of 37 completed and ready-to-move-in projects, as well as 13 projects currently under development and for sale. The current backlog stands at over 12,500 million baht in sales revenue.

Distributed by the Public Relations Department of MT Multimedia Co., Ltd. (on behalf of ASW PCL).
For further information, please contact:
Mr. Pipop (Top) at +66 081-9298864
E-mail: pipop.k@mtmultimedia.com

Assetwise PCL: https://assetwise.co.th/ [SET: ASW]

Hektar REIT’s Sustainability & CSR Commitment Honored with an Accolade

“Company of the Year – Best in Sustainability Reporting & Community Support” at the Sustainability & CSR Malaysia Awards 2023

Hektar Asset Management Sdn Bhd, the Manager for Hektar Real Estate Investment Trust (Hektar REIT) has been awarded “Company of the Year – Best in Sustainability Reporting & Community Support” under the category of Retail Management at the Sustainability & CSR Malaysia Awards 2023 held last night at Mandarin Oriental Hotel, Kuala Lumpur.

1. Mr. Muhammad Bakhtiar Ul Haq (Asst Manager, Investor Relations, ESG & Special Projects); 2. Pn. Sabrina Halim (General Manager, Business Development & Strategy); 3. Pn. Zarina Halim, (Chief Corporate Officer); 4. Mr. Lim Kek Siang (Senior General Manager, Finance); 5. Mr. Muhammad Fahmi Bin Rasni (Senior Manager, Business Development & Strategy) [L-R]

The Sustainability & CSR Malaysia Awards 2023, which was officiated by the Minister of Women, Family & Community Development, YB Dato’ Sri Hajah Nancy Shukri, is organised by CSR Malaysia, a publication and social initiative under the auspices of the Malaysian Welfare Society for Corporate Sustainability & Responsibility, which is the national organisation for sustainability in the country. Several nominations were received for the various categories, with awardees judged by a distinguished panel of judges drawn from the media and the Malaysian Welfare Society for Corporate Sustainability & Responsibility.

Hektar REIT is proud to announce that it has been honoured with this highly acclaimed award for its unwavering dedication to Corporate Social Responsibility (CSR) and Sustainability practices. The recognition highlights Hektar REIT’s exceptional efforts in contributing towards the people and the environment. The company embraces its responsibility to create shared value for all stakeholders, including tenants, employees, shareholders and the surrounding communities. Through extensive CSR programs, Hektar REIT consistently engages in activities that have fostered strong partnerships with local communities and institutions to drive impactful social change. By investing in the community, Hektar REIT has continued to play a pivotal role in improving and enriching the lives of communities surrounding the areas at which our malls operate.

Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. (“Hektar Asset Management”), En. Johari Shukri Jamil said “As we navigate the changing landscapes of business, one thing remains clear: Our responsibility goes beyond quarterly profits and shareholder value. Sustainability and corporate social responsibility (CSR) are central to who we are and how we operate. We must view our work through the lens of sustainability, not as a separate initiative, but as an intrinsic element of all our decisions and actions. We are committed to a world where our CSR efforts are a reflection of our respect for the planet, our community, and future generations. We are committed to business growth, enhancing the value for our unitholders, and positively impacting the world around us.”

He said, “It is immensely gratifying to have these efforts recognised by the Sustainability & CSR Malaysia Awards. This serves as both an honour and an inspiration for us to keep pushing the boundaries of what we can achieve in the realms of sustainability and community support.”

The awards are a testament to Hektar REIT’s industry-leading initiatives and its unwavering commitment to sustainability and CSR. This recognition will further cement Hektar REIT’s reputation as a socially responsible company that is actively contributing to a more sustainable future.

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

The 5th PropertyGuru Asia Property Awards (Greater Niseko) 2023 celebrate popularity of Japan’s alpine market

Organisers of the PropertyGuru Asia Property Awards have opened the call for entries for Greater Niseko at an opportune time for the world-renowned Japanese holiday property market.

The 5th PropertyGuru Asia Property Awards (Greater Niseko) are now accepting entries ahead of their presentation on Friday, 8 December 2023. The awards will be announced on an international stage at The Athenee Hotel, a Luxury Collection Hotel, Bangkok in Thailand, where the best of the best in the region’s real estate will gather to celebrate industry excellence. Submissions are accepted online via: https://asiapropertyawards.com/

The emergence of increasingly upscale communities and easy access for Asian tourists and second-home buyers continue to contribute to Niseko’s ascent, according to research from Property Report by PropertyGuru, the official magazine of the Awards.

With significant infrastructure developments in the pipeline, including a bullet-train route from Tokyo and a new regional highway, as well as a bid to host the 2030 Winter Olympics, Greater Niseko is bound for greater prominence in the coming years. While foreign families and individual investors continue to be the primary property buyers in the area, Greater Niseko is seeing renewed interest from Japanese individual and corporate buyers, many of whom are increasingly drawn to the area’s emerging enclaves.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “With its world-class hotels and hospitality projects, Greater Niseko continues to be a significant player in Asia’s property landscape, capturing the attention of investors, as well as the judges for the PropertyGuru Asia Property Awards. As cross-border travel resumes in Japan, we eagerly anticipate the rebound of tourism in Greater Niseko, and are pleased to recognise and award the development and design firms that are revitalising one of the world’s premier ski resort destinations.”

Key dates for the 2023 edition:
15 September 2023 – Entries Close
2-13 October 2023 – Site Inspections
18 October 2023 – Final Judging
8 December 2023 – Gala Event and Awards Ceremony in Bangkok, Thailand
8 December 2023 – Regional Grand Final Gala Presentation in Bangkok, Thailand

The public are encouraged to submit their nominations before the deadline of entries on 15 September 2023 here: https://asiapropertyawards.com/nominations

New chairperson elected

Experts in real estate consultancy, design, and other fields have been assembled to form a panel of judges who will participate in a fair, transparent process of selecting the award recipients. This year, Eddie Guillemette, CEO of Midori no Ki (MnK), will serve as the new chairperson of the independent panel of judges, succeeding Bill Barnett, founder and managing director of C9 Hotelworks, who will remain on the panel.

Eddie Guillemette said: “I’m delighted to announce the resumption of the search for outstanding developments, companies, and design practices in Greater Niseko through the PropertyGuru Asia Property Awards, in collaboration with an esteemed panel of independent judges. With the revitalisation of Japan’s tourism sector and its close association with the real estate industry, we hold a positive outlook for the Greater Niseko property market this year.”

Bill Barnett said: “Niseko is Asia’s leading alpine real estate market and on the cusp of even greater things with a pipeline of international hotel brands such as Six Senses and Capella adding traction to the branded residences sector. We are optimistic of a significant market uplift this year based on very strong fundamentals.”

The nominees shortlisted by the judges will be able to showcase their companies and projects to a wide network of property seekers, real estate agents, banks and valuers, and enterprises served by PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company.

Supervised by HLB, the global network of independent advisory and accounting firms, the awards programme makes full use of a professionally run judging system, with an established reputation for credibility and integrity.

Representation for Greater Niseko

Main winners of the PropertyGuru Asia Property Awards (Greater Niseko) will qualify to compete with the region’s best at the 18th PropertyGuru Asia Property Awards Grand Final, which will also be held in Bangkok, Thailand on 8 December 2023.

Greater Niseko was represented last year at the 17th PropertyGuru Asia Property Awards Grand Final with Andaru Collection Niseko by Blue Waves Group winning both the Best Completed Housing/Landed Development (Asia) and Best Housing/Landed Interior Design (Asia) awards. Also representing Greater Niseko, HakuVillas by H2 Group won the Best Completed Condo Development (Asia) award.

Established in 2005, the PropertyGuru Asia Property Awards continue to reward high-calibre work within the industry, encompassing property development, construction, architecture, interior design, and sustainable building practices. The series initially covered Southeast Asia and has expanded over the years to include the region’s dynamic property markets, including Australia, China, and India.

Organised by PropertyGuru Group, the 5th PropertyGuru Asia Property Awards (Greater Niseko) are supported by official magazine Property Report by PropertyGuru; media partner Powderlife; supporting association Niseko Tourism; and official supervisor HLB.

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

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:

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

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

For more information, please visit https://AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading(1) PropTech company, and the preferred destination for over 41 million property seekers(2) to connect with more than 63,000 agents(3) monthly to find their dream home. PropertyGuru empowers property seekers with more than 3.2 million real estate listings(4), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

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; and a host of enterprise solutions now under PropertyGuru For Business, including a high-quality developer sales enablement platform, FastKey, DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: https://PropertyGuruGroup.com; PropertyGuru Group on LinkedIn (www.linkedin.com/company/propertyguru).

(1) Based on SimilarWeb data between July 2022 and December 2022.
(2) Based on Google Analytics data between July 2022 and December 2022.
(3) Based on data between July 2022 and December 2022.
(4) Based on SimilarWeb data between July 2022 and December 2022.

PropertyGuru Contacts:

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

Media & Partnerships:
Piyachanok Raungpaka, Media Relations & Marketing Services Executive
M: +66 94 887 5163
E: piyachanok@propertyguru.com

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

Sales & Nominations:
Nyan Zaw Aung (Jordan), Solutions Manager
M: +66 964 575088
E: jordan@propertyguru.com

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

Hektar REIT’s Portfolio Maintains a Trend of Improvement

Occupancy Rate Increased to 83.8% with Positive Rental Reversion
– Revenue recorded of RM28.9 million and Net Property Income of RM15.2 million
– Robust NPI Margin of 52% indicating healthy financial performance
– Gearing ratio lowered to 44.3% due to effective financial strategy
– Improvement in portfolio occupancy rate to 83.8%
– Positive rental reversions

Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced that for the first quarter ended 31 March 2023 (1Q 2023), Hektar REIT registered revenue of RM28.9 million and the Net Property Income (NPI) for the quarter under review stood at RM15.2 million at the back of higher utilities cost driven by the electricity tariff hike due to the adjustments of the Imbalance Cost Pass-Through (ICPT) mechanism, and the increase in minimum wages. Realised Net Income for 1Q 2023 stood at RM9.2 million due to higher finance cost in line with the increase of Overnight Policy Rates (OPR) implemented by Bank Negara Malaysia.

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

Hektar REIT recorded a robust NPI Margin of 52%, indicating a healthy financial performance throughout the Assets Under Management (AUM). The Gearing Ratio was improved to 44.3% due to prudent financial management.

Hektar REIT’s portfolio performance showed considerable improvement and the portfolio occupancy improved to 83.8%. Mahkota Parade & Wetex Parade occupancy rates improved tremendously, recording more than 90% and Kulim Central recorded close to 96%. The Management is also pleased to report a positive rental reversion for this quarter with 78 new or renewed tenancies consisting of 14.0% of the total Net Lettable Area (NLA), equivalent to 287,298 sq. ft. Despite the challenging retail environment, Management remains aggressive 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.

All malls under the portfolio experienced an uptrend in visitor traffic, showing positive signs of a return in shoppers’ confidence at Hektar malls. Overall visitor footfall count for 1Q 2023 increased to 5.6 million, a massive jump of 33% compared to the same quarter in the preceding year. The Management is constantly working on intensifying marketing events & activities and Corporate Social Responsibility related events to serve the communities in the areas where our shopping centres operate.

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: “Retail activities remained strong in this quarter on the back of festivities. Hektar REIT’s malls are well-positioned as neighbourhood & community malls. This is where our focus and niche are, hence; we continuously aim at improving the overall tenancy mix & occupancies at the malls. For this year, we are planning for Subang Parade’s Repositioning exercise. We believe that remixing of tenancies by bringing in new tenants will complement the existing offerings and will also be able to match the expectations of our loyal patrons. 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 returns to our Unitholders. We will continue to sweat our AUM to enhance revenue and NPI. Our committed overall portfolio occupancy is currently 85.4% and will be realised in the subsequent quarters this year. We are in the midst of discussions with prominent & notable tenants to further improve our overall occupancy & tenancy mix.”

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

Tokenising Tomorrow: CitaDAO Successfully Completes Real Estate Tokenisation, Shaping the Future of Real Estate Ecosystem

  • CitaDAO successfully tokenised second real estate in Singapore: 18 Sin Ming Lane

In a notable step forward, CitaDAO is delighted to share the successful completion of its third Introducing Real Estate On-Chain (IRO) project. This achievement, the tokenisation of a prime industrial property in Singapore’s bustling Midview City, exemplifies the company’s commitment to broadening access to one of the world’s top real estate markets. CitaDAO is proud to be part of the journey towards a new wave of real estate innovation, creating a bridge between traditional and decentralised finance.

CitaDAO IRO Success: 18 Sin Ming Lane, Singapore Introducing Real Estate On-chain (IRO) – 18 Sin Ming Lane, Singapore

Following the successful IRO, a legal transaction will occur before the Real Estate Tokens can be minted and made available for claiming. For the IRO participants, do follow our Twitter or Discord for the updates.

Key IRO Recap
– Address: 18 Sin Ming Lane, Midview City, Singapore
– IRO Value: US$635,000
– IRO Date: April 18, 2023, to May 16, 2023

Solving liquidity challenges
At CitaDAO, one of our core missions has always been to address the liquidity challenge that has long been a plague in the real estate industry. Our previous IRO, 20SML0253SG, has been a testament to our success in achieving this mission. Through the tokenisation of a prime industrial property in Singapore, one of the most vibrant real estate markets in the world, we’ve demonstrated the immense value that can be unlocked when real estate is tokenised. Not only did we create a more valuable asset by democratising access to this premium property, but we also ensured constant liquidity in the market by leveraging the concentrated liquidity pool of Uniswap v3. This was evidenced by the $290,000 (46% of the real estate value) in Total Value Locked in the 20SML0253SG RET, making secondary transactions more convenient for all token holders – proving that our vision for making a liquid real estate market a tangible reality was successfully accomplished.

In offering a vibrant secondary market for the RET, CitaDAO creates an opportunity for RET holders to boost their returns by assuming the role of market makers. By adding liquidity to the pool, they can earn liquidity provider rewards passively, a benefit that mirrors the traditional real estate investments.

A Catalyst for DeFi Expansion
The successful tokenisation efforts by CitaDAO have laid the groundwork for a significant growth catalyst for the DeFi sector. By unlocking new capital streams from yield-producing assets, the platform invites new users and capital into the DeFi space, consequently generating innovative opportunities and applications.

Conclusion
CitaDAO firmly believes that tokenising real-world assets is a critical driver for the mainstream adoption of DeFi. If you’re intrigued by the process, we invite you to experience the future of real estate through CitaDAO’s innovative IRO process and look forward to our next IRO – 15 West Halkin Street.

Contact Information:
Alex C
Marketing Manager
press@citadao.io

Up to 10.5% increase in GDP possible in some countries with housing improvements in informal settlements, new Habitat for Humanity and IIED report finds

Improving housing at a large scale in slums and other informal settlements can have substantial economic and human development gains, according to a first-of-its kind report released by Habitat for Humanity and its research partner, the International Institute for Environment and Development, or IIED. The report supports the launch of Habitat for Humanity’s five-year campaign, Home Equals, seeking policy changes at the local, national and global levels to increase equitable access to adequate housing in informal settlements.

“The Asia-Pacific region is home to the largest concentration of people experiencing urban poverty, with one third of urban dwellers living in informal settlements or slum-like conditions. The number will only grow bigger and the need for adequate housing more urgent as urbanization continues, driven by internal rural-to-urban migration–particularly of people from poorer backgrounds seeking economic opportunities in cities,” said Luis Noda, vice-president for Asia-Pacific, Habitat for Humanity International.

The report found that gross domestic product and income per capita could increase by as much as 10.5% in some countries. The resulting increase in living standards among residents of informal settlements, taken as a whole, is likely to exceed the cost of improving informal settlements in many countries.

Other startling findings include:
– An increase of up to 4% in life expectancy in some countries, adding an average of 2.4 years of life
– More than 730,000 preventable deaths could be avoided annually, more than by eradicating malaria globally
– An increase of as much as 28% in the expected years of schooling in some countries

The report used a unique modeling methodology, which combines a review of more than 130 articles and reports with 72 indicators across 102 low- and middle-income countries. The model could not generate projections for specific countries on their own, so the researchers grouped countries into four typologies. Assuming the impacts in a country reflect those of the country type it is most similar to, improving housing in informal settlements in some Asia-Pacific countries could result in:

– An increase in GDP of up to 7.25% in countries such as Bangladesh, by as much as 3.3% in countries such as Fiji, and up to 10.5% in countries such as Myanmar
– An increase in life expectancy rate of up to 1.7% in countries such as Cambodia and Nepal, and as much as 1.2% in countries such as Thailand
– Up to a one-year increase in the mean years of schooling for countries such as India and Indonesia, and 1.35 years in countries such as the Philippines

At the global level, Habitat for Humanity is calling on G7 member states – set to meet this weekend in Hiroshima, Japan – to recognize housing as a critical lever for development progress and commit to addressing housing needs in informal settlements as a way to advance international development priorities in areas such as economic growth, health and education.

Noda added, “The report provides empirical evidence that adequate housing is a powerful catalyst for well-being and sustainability. It makes clear that we must invest intentionally to ensure that residents of informal settlements have access to adequate housing. As Habitat for Humanity launches the Home Equals campaign, we are eager to work hand-in-hand with residents of informal settlements, civil society organizations, local and national governments, and other stakeholders to improve, through policy change, the lives of 15 million people living in informal settlements.”

More than half of Habitat’s network, including 11 entities based in the Asia-Pacific, are working actively on the campaign. Habitat Australia will advocate with the government to adopt policies aimed at addressing the lack of adequate housing for informal settlement dwellers across the region. In Nepal, Habitat will work to integrate policies and guidelines so residents of informal settlements can equitably access land rights through an information campaign, dialogue between the local government and families and the establishment of a land support service center. Habitat Indonesia will help local governments identify funding resources to implement rehabilitation programs for inhabitable housing, to build new houses and explore funding mechanisms between governments and NGOs for housing programming. In Vietnam, Habitat will work with local partners to implement sustainable policy solutions that will enable Vietnamese returnees from Cambodia to have a secure home.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in U.S.A. Since its founding in 1976, the housing organization has grown to become a leading global nonprofit working in more than 70 countries. In the Asia-Pacific region since 1983, Habitat for Humanity has supported millions of people to build or improve a place they can call home. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. To learn more, donate or volunteer, visit habitat.org/asiapacific.

For further information, please contact Ms. Michele Soh, MSoh@habitat.org, +65 9233 1544. Photos, with captions and photographer credits, are available in this folder. The Home Equals campaign video is available to download or to watch on Habitat’s YouTube channel. Video b-roll is available upon request.