Parc Riviera is near to Clementi Mall and other shopping centres. Showflat and Singapore showflat together with the pricing available soon for viewing.
The Cheng Lim LRT are responsible for the development of one of the busiest transportation centres in all of Singapore. This Station opened in early 2013 and runs from Cheng Lim Farmways has tracks numbers 1 to 6 all The way to The Lorong Cheng Lim Railways in other parts of the country for Treasure Crest EC.
Looking at the near future aspect, at least 2 developments that are a mix of commercial and residential would be close to the Woodleigh MRT station.
Some of the projects coming up in MCC Land’s pipeline includes a 10 Tampines Avenue private condo site that will be launching during 2016’s 3rd Quarter.
One Sengkang Mall Anchorvale Crescent EC
MCC Land, due to their close link with Hao Yuan Investment, will be providing some of the Chinese developer’s overseas projects with project management near Sengkang General and Community Hospital and Sengkang Sports and Recreation Centre, including their current Danga Bay mixed use project and a 12 Woodland Avenue executive condo project that is upcoming and set to launch in April or May of 2016 for Anchorvale EC by Sim Lian.
Another project that MCC Land will be managing is HY Realty’s private condo project at Dundee Road. Which looks likely to launch in 2016’s 3rd Quarter. HY Realty shares Hao Yuan Investment’s shareholders. The construction of both the Dundee and Woodlands projects will be undertaken by Chin Jingye.
Kopitiam Square Anchorvale Sim Lian EC
Although developers managed a 2.9% increase in private home sales in 2015, the ERA Realty Network , a market analyst, expects the flats sales performance across the private and EC (public-private housing hybrid) housing segments. ERA Key executive officer, Eugene Lim, forecast of flat sales for the year comes at a time when developers sold 2, 562 executive condo (EC) in 2015, up from 1, 578 in 2014.
Mr. Lim forecast is subject to unchanging cooling measures for condos near One Sengkang Mall and Kopitiam Square. If unchanged, Lim predicts about 7, 500 private homes and 2, 600 EC units will be traded in 2016. However, if cooling measures were lifted or tweaked, then Lim expects much higher sales.
Anchorvale Sim Lian EC Cheng Lim LRT
Developers are cautious of the volatile market, but none has sent instructions to the ERA signaling delay in launch schedules for projects including Waterway Point line up for release several months after the Chinese New Year. However, developers are cautious of the volatile stock market, and their pricing on new units this year will reflect this. Wandervale, located in Choa Chu Kang, and Visionaire in Sembawang, are some of the projects the ERA like Sengkang MRT is set to market this year in Anchorvale EC.
Another consultant further testified to the cautious approach adopted by developers. The consultant pointed out that although developers are likely to launch projects, they are still looking out for opportunities to their launches or relaunches.
Industrial Site on Lok Yang Road Up For Sale.On 1 fourth and 4 Fifth Lok Yang Road is a heavy industrial development. It is located on a 133, 876 sq ft corner site with a gross floor area of about 107,130 sq ft for Evia Real Estate. in total it has five buildings. There are two storey factory buildings with a mezzanine level and another two without. The rest are a single storey and another that is single storey.
Toa Payoh Condo
The property is up for sale through an expression of interest in Toa Payoh Lorong 4 Condo and its indicative price is US$ 20million. Zoned as Business 2 property, it has a good frontage facing Fourth Lok Yang Road, Fifth Lok Yang Road and Lok Yang Way. The plot ration of this property stands at 2.5 and the 1 fuourth Lok yang Road has a remaining tenure of 18 years while the 4 fifth Lok Yang road has a 22 years remaining tenure for Gamuda Evia Toa Payoh Condo. More so, the property comes with two titles. Any buyer can subsequently sub divide the property to suit his desires.
Evia Real Estate Condo
It is property has a big advantage because of its size in Toa Payoh Lorong 4 Condo. Rarely will you find such complex industrial property on sale. In fact all other similar property sold this year, none has averaged this size. This therefore presents a very good chance for end-users in the B2 industries to acquire industrial property that is already landed in Evia Real Estate. It is easily accessible within the Jurong Industrial Estate.
Gamuda Evia Toa Payoh Condo
Another sale by expression of interest at Toa Payoh Lorong 4 Condo will also be done for food factory located at 255 Jalan Boon Lay on Monday. It is located on Business 2 zone and is located on a huge corner site of about 316, 524 sq ft property. Its gross floor area is about 130, 000 sq ft and has a plot ratio of 2.5. Its lease expires on 20129.
Flash estimates form SRX Property has shown that November’s leasing market continued to show weakness with a 1.1% dip, month on month, in the private home rents of non-landed houses, as well as a decline of 0.5% in Housing Development Board rents. In comparison to this time last year, Choa Chu Kang Avenue 5 rents have dropped by 5.6% for the private rents sector and 4.1% for HDB flats for the month of November.
Eugene Lim, the key executive officer for ERA Realty, pointed out that many tenants have been opting for shorter lease terms as a means of capitalizing on the decline in rents. As a result, we still saw more transactions being closed in comparison to this time last year, regardless of the dip seen month on month in the amount of rental transactions in the private residential sector.
Choa Chu Kang Avenue 5
November saw an estimated 3,304 private non-landed home rental transactions being completed, a figure that has dropped 7.8% month on month, but is up 12.6% in comparison to this time last year for Qingjian Choa Chu Kang EC.
Looking ahead to 2016, Mr. Lim expects to see the volume in rents to stay firm as we see more tenants opting for 12 month leases, a move that will mean more frequent rental transactions.
Ong Kah Seng, director for R’ST Research, noted that the intensified competition amongst landlords, alongside a year end period that is weak seasonally, are all contributors to November’s weaker rental figures.
Qingjian Choa Chu Kang EC
This year has seen 2 year leases becoming less popular, with the standard preference currently being for 12 and 10 month leases in Choa Chu Kang EC by Qingjian Realty. Of those who prefer these shorter leases are foreign professionals who are more than likely to be moved as a means of helping to make inroads for their headquarters into the Asian markets, or those whose placement in Singapore are uncertain.
Another factor that has recently contributed to this sharper weakness in rentals is the significant rise in the increased amount of suburban condos being completed, especially in the Outside Central Region.
Year to date Qingjian Choa Chu Kang Tender figures have shown the biggest drop in private non-landed homes occurred in the Outside Central Region by 7.4%, with the Rest of Central Region showing a 3.5% drop and a 2.5% dip for the Core Central Region.
According to the flash estimates given by SRX Property, November alone showed that rental declines were experienced in the Rest of Central, Core Central and Outside Central regions of 2% for the RCR, 0.7% for the CCR and 0.7% for the OCR.
Choa Chu Kang Avenue 5 EC by Qingjian
Mr. Ong had stated that, with a substantial amount of Qingjian EC properties in the private residential sector being completed for 2015 and 2016, he expects an average fall of around 5% in private non-landed residential rents for the entirety of 2015, with around 5% seen for 2016.
Despondent leasing conditions still being seen in the private residential market are what is continuing to put pressure on the rental market in the HDB sector.
November saw rents for tractions across the board for Choa Chu Kang Avenue 5 HDB units fall from what they were just a month prior. 3 room units dropped 0.5%, 4 room dropped 0.1%, 5 room units saw a 0.7% decline and executive units fell 2.5%.
However, a rise was seen in the volume of HDB rental transactions by 6.3% in November, month on month, to 1,822 units, a figure that is 3.9% up from 2014’s November figures.
Mr. Lim pointed out that, as a result of stiffer competition, it is expected that Qingjian CCK EC HDB rents will come under more pressure as we move into 2016. However, transaction volumes should stay strong, since there have been at least a few expatriates considering leasing an HDB flat rather than a private unit as a result of constraints in their relocation packages.
It was expected that the recent public tender that was launched by the Urban Redevelopment Authority in Siglap Road would produce some warm interest in bidding by developers.
The site sits in a residential area and is also located near CHIJ Katong Convent, Tao Nan School, Victoria Junior College and Victoria School. Also nearby are East Coast Park and a number of existing condos, such as Villa Marina, Fernwood Towers and Mandarin Gardens.
Artra Condo – Artra Condo Redhill MRT Alexandra View by Tang Group of Companies
The 1.93 hectare land parcel has many favourable attributes, among which is its East Coast residential territory and close proximity to the soon to come Tang Group Condo.
Tang Skyline Redhill Condo
The gross plot ratio for the site, which is on the Government Land Sales programme confirmed list for the 2nd half of 2015, is 3.5 and has the potential to yield around 750 units for Redhill Tang Group of Companies Condo.
Many analysts pointed out the rarity of having a Government Land Sales residential site being placed up for sale in this East Coast area. Due to the site’s development and size however, any real estate developer would need to have sufficient financial capacity in order to develop the project. This is why it is expected that any bidders will come from larger consortiums and developers in Tang Group Redhill Alexandra View Condo.
Also of note is that the site is a fair distance from the nearest working MRT station, Bedok, with an operational estimate for Siglap MRT stations being set for 2023, according to the time line set out by the Land Transport Authority.
Tang Skyline Alexandra View Condo
It seems that there is a wide variation in the estimates from property consultants, despite the site’s overall positive views, who feel a winning bid could be anywhere between $640 to $873 per square foot, per plot ratio.
Of all of the estimates, the most conservative one fell between $640 to $680 per square foot. Per plot ratio, coming from one analyst that projects the average selling figure for the project to be $1,300 per square foot, should the project be launched toward 2016’s year end, or perhaps early on in 2017. This is a move that would involve a price premium of between 25% to 30%, in comparison to the vicinity’s older developments, which saw leasehold and freehold project’s resale prices hovering at about $1,000 per square foot for Tang Group of Companies Redhill Condo.
Tang Group of Companies Redhill Condo
The vicinity’s older residential private developments have the potential to be redeveloped through en-bloc sales, however it has been hard to implement collective sales. One analyst has said that he believes developers could quite easily miss this window of opportunity, with the anticipation that there will be a change in the market by the time this project is launched, should they opt to take the longer process of gaining land via collective sales in Tang Skyline Redhill Condo.
However, another analyst pointed out that, since there are a few freehold projects in the area, the burden sits on the developer’s shoulders to come up with a value proposition that is compelling enough for a development with a 99 year leasehold. One concern for potential future buyers is the close proximity of the East Coast Parkway and the noise of traffic that results. If we use the transaction range from other leasehold flats in the area, $1,400 to $1,600 per square foot, as a benchmark, he expects that there will be between 6 to 8 bids for this site, with the highest winning bid to fall around $790 to $850 per square foot. The land parcel’s tender will close on the 14th of January, 2016.
After several members of Saint Andrew’s alumni having an issue with a Potong Pasir project, MCC Land has submitted new names. The property developer had originally submitted the names The Andrew Village and The Andrew Residences for its shopping mall and condominium project. However, the new names have yet to be disclosed and are currently waiting on approval from the authorities they were submitted to for Sturdee Road Condo.
Sturdee Road Condo
It seems a number of alumni members from Saint Andrew had written to the authorities and the project developer, feeling that naming a commercial project in Sturdee Road SL Capital Condo with a name that was similar would create confusion amongst the public and was taking away the history of the school in the process.
Sturdee Road SL Capital Condo
As reported earlier to Channel NewsAsia, the Street and Buildings Name Board had been made aware of the project’s recent feedback and was researching the issue for Sturdee Road Condo. Saint Andrew’s Village is the official construct of the 3 Saint Andrew’s schools, as well as being home to three church buildings, a kindergarten and the home of the Anglican Diocesan Office.
The location of MCC Land’s new shopping mall and condo project is just fairly close to the Saint Andrew’s Village. It is expected that the project will be finished in 2019, with expected sales for SL Capital Sustained Land Condo to start towards year’s end.
The property resale prices dropped even more, right across the market, during the third quarter. However, there were slightly dissimilar perspectives for the public and private sectors.
The Housing Board resale sector seems to be regaining control, West Coast Vale Condo private property prices underwent the biggest quarterly drop since the decline started.
According to a recent report, HDB resale prices dropped by only 0.3%.
It represents the ninth consecutive quarterly drop, but the littlest decline since prices started to decrease in 2013. In comparison, EL Development Condo private property prices have dropped by 1.3%; the biggest dip since the decline started during the final quarter of 2013.
West Coast Vale Condo
According to analysts, this is the second quarter of negligible damage for the HDB resale sector. There are many who believe that this represents increased control over the price of resale properties.
As HDB prices have dropped 1.8% during 2015, the chief of ERA Realty, Eugene Lim, predicts a total annual dip of only 2-2.5%. This is significantly different from the 6% decline of 2014.
There were a smaller number of HDB exchanges, with 4,893 properties purchased – this is in comparison with 5,286 over the second quarter in EL Development West Coast Condo.
EL Development West Coast Condo
Some property specialists attribute this to the imminent release of new properties next month, with the HDB planning to provide 7,000 build to order properties and an additional 5,000 sale of balance properties in West Coast EL Development Condo.
Yet, the number of exchanges is still greater than the figure for this same period, last year – specialists claim that decreases in price have encouraged more buyers to invest.
As regards the private resale sector, the price drop was all encompassing, but still seemed to be started by a 1.6% dip across the urban outskirts and the suburban areas.
Plus, prices within the primary central areas dropped by 1.2%, which is twice the 0.6% drop of the preceding quarter for EL Development West Coast Vale Condo.
It could be that developers and investors are being overly cautious. Whilst investors are safeguarding themselves against more price dips, developers are keen to prevent conflicts with release dates as this might weaken demand further.
EL Development West Coast Vale Condo
These developers are watching the government closely, particularly when it comes to tweaks to the cooling policies in West Coast Vale Condo.
According to the National Development Minister, Lawrence Wong, the real estate cooling policies driving the recent market decline will not be weakened or changed in the near future.
However, there are some experts who talk of ‘silver linings’ in the event that private property prices consistently drop at a greater rate than public resale prices.
The vanishing gulf between mass market condo properties and HDB resale properties could persuade HDB landlords to move on to private investments. This might then soften the blow from a drop in suburban prices and sales numbers for the twelve months to come for West Coast Vale EL Development.
Also, private residential rents are decreasing, but this is at a fairly sluggish pace.
They dropped 0.6% during the third quarter, in comparison with 1.1% during the second quarter. As regards non-landed residential sites, suburban rents dropped by the greatest amount (1.1%) – urban outskirts rents dropped by 0.8% and key central areas dropped by 0.4%.
In addition, landed property rents saw little change with just a 0.1% drop, in comparison with a 1% drop during the preceding quarter.
Nanshan Group, who is based out of China, recently launched its earliest project, a private condominium at Lorong Puntong called Thomson Impressions. Its average selling price is $1,400 psf and the project holds 288 units in total and is situated on a parcel of land with a 99 year lease-hold
A joint venture was recently formed between Nanshan Group and Vico Construction to develop this project, which was purchased back in October of 2013 for $173.57 million, the equivalent of $731.10 per square foot for Lorong Lew Lian Condo.
Lorong Lew Lian Condo
Zuo Haibin, along with wife Li Ming Hua, are the owners of Vico Construction. Up until February of 2015 Mr. Zuo was the executive director of South Pacific Qingjian International. He is now the spokesman of Upper Serangoon Condo, as well as the appointed director of NS Property, a special purpose vehicle of JV. Mr. Zuo shared that this project has gone back to basics and is geared towards occupiers in a market that has been inundated with shoe-box units.
Because of their tenure of the piece of land, freehold properties are often more pleasing to buyers within the open resale market as compared to lease hold houses. Nevertheless, the comparatively high asking prices of these freehold properties could certainly have triggered a growth inside the number being set up for auction in CDL Serangoon Condo,” Lee explained.
Hong Leong Holdings Condo
He further pointed out that, keeping this target group in mind, each unit has been designed in such a way that will allow the main bedroom of the unit to fit a king sized bed, while the smaller bedrooms are able to fit a queen sized bed.
The project itself is situated about 600 metres of walking distance to the Thomson MRT lines’ soon to come Bright Hill MRT station for Lorong Lew Lian Condo Hong Leong. One of the marketing agents for the project is ERA Realty.
Regarding total sales, the number of houses effectively auctioned off increased to 10 through the third quarter from nine inside the preceding time period. Particularly, five belonged under owner’s sale, converting to a success of 6.8 percent because there were 73 real estate readily available in this segment. Remarkably, only two homes out of 70 had been purchased this section in Q2 2014 at Serangoon CDL Hong Leong Condo.
Serangoon CDL Hong Leong Condo
Mr. Zuo feels confident about the uptake in sales for the project, considering the vicinity’s availability of resale units being quite limited, as well as the projects smaller scale, attributes of the location and pricing in Lorong Lew Lian Condo.
Mr. Zuo is a permanent resident of Singapore, with both his son and wife being Singapore natives. They see the location of Thomson as a favourable and exclusive on that can offer a number of possibilities due to its Hong Leong Holdings Condo close vicinity of the Singapore Island Country Club, the upcoming MRT station and the Ai Tong school. Also to become a Singaporean is the founder of Nanshan Group, Song Zuowen.
The Shimizu study also explained that the sector of the population that is employed triggers a demand for housing as this sector typically builds up assets during their prime or working years, and then consumes these assets or savings during their years of retirement. The brand new Science Center has gotten a longer time to finish as works were temporarily stopped to spread out the the demand for building construction people, in accordance with previous reports. Mr Khaw added there are other projects regarding Flora Drive Condo during the many years to come, including major enhancements towards transporting systems, which is to be enforced gradually.
Flora Drive Condo Hong Leong
Houses are considered to be a safe asset because they lose little value due to inflation, compared with savings. Houses may be passed onto offspring for Flora Road Condo or sold, the profits being allocated to the expenses of old-age. The government cooling actions that include the total debt to service ratio TDSR has lessen the capacity for young families that are organising their new homes to loan the total amount needed in view of their residential loans.
The Shimizu study also stated that in an economy comprising of these two generations, if life-expectancy continues to increase without the social welfare system developing to accommodate it for Hong Leong Pasir Ris Condo, working age people will tend to reduce their current consumption, and save their money in preparation for life after retirement. A great deal of wide variety of real estate put on public sale dropped by four percent to 119 units in Q3 2014 from the former quarter, however on an annual basis there seems to be a 1.7 percent boost, said a Knight Frank report. On the other hand, the quantity of real estate proposed because of mortgagee sale jumped by 16.2 percent to 43 units using a quarterly basis hong leong flora drive condo. Associated with this, there are six landed properties, up from five in Q2 2014.
Hong Leong Condo at Upper Changi Road
These actions demonstrate the ways in which the aging of the population tends to slow the economy. In addition, because the elderly depend on those who work for a living, a larger proportion of elderly people in the population for hong leong flora road condotends to make the economy less active. Some of these prospective buyers are thinking about private properties but TDSR restrictions has effectively shut them out from buying private properties and reducing their options to HDB. The relatively substantial total quantum regarding landed houses, combined considering the application of the Total Debt Servicing Ratio (TDSR) property measures on the restrictions on loans, has made it progressively tough for landed homeowners to service their particular mortgage repayments. This has therefore led to a large trend of landed properties staying put up for auction for Hong Leong Condo.
Flora Drive Condo
We will make it fun, informative & amazing, commensurate with changing times and all of our successes through the many years,” Mr Khaw published.The location will grant NParks to integrate the future Science Centre with the new Gardens, merging concepts such as the sciences, technology and garden.
As of August 24th the new Proximity Housing Grant will allow Singaporean families to be able to purchase a resale apartment in close proximity to their married children or parents with a $20,000 subsidy. This is $10,000 above the current Central Provident Fund Housing Grant for the higher tier. Singles who are eligible will get a $10,000 subsidy, which is $5,000 more than previously, if they choose to purchase a resale flat with a parent. There will be a discontinuation of the Higher Tier Central Provident Fund Housing Grant for Lend Lease Condo.
Paya Lebar Central MRT Condo
The whole volume of residences put on public sale decreased by four percent to 119 units in Q3 2014 from the former quarter, on the other hand on an annual basis there was clearly a % increase, said a Knight Frank review. On top of that, the total number of real estate given by means of mortgagee sale jumped by 16.2 percent to 43 units on a quarterly basis in Paya Lebar Mix Development. Associated with this, there were six landed properties, up from five in Q2 2014.
There was also a rise in the income ceiling for the HDB loan, also referred to as the CPF Housing Grant, from $10,000 to $12,000 for the monthly gross income for a household. This comes in tandem with citizen households having their income ceiling raised for Paya Lebar Lend Lease Condo, allowing them to purchase new executive condos and flats.
Lend Lease Paya Lebar Condo
Selling prices of private real estate in Singapore continue to keep cool however , in a decreased speed as confirmed from Urban Redevelopment Authority (URA)’s price reports.
As outlined by Colliers International’s Director together with Advisory Chia Siew Chuin, quite a few home sellers are not in any immediate need to get rid of their properties as various have formerly gained from previous home trades. Some might also be still sitting on profits assuming they made their ventures in the earlier property upcycle.“ Many people who own private properties nowadays have benefitted due to the robust capital equity for Lend Lease Mix Development since then.
Paya Lebar Central Condo
Home buyers in the North-East part of Singapore currently have a nice wide range of housing alternatives, as well as services right next to homes. New public and private real estate will likely be introduced to present more extensive options for occupants, as modern conveniences and local community conveniences is going to be developed across the next few years to improve the quality of life.
Mr. Lim points out that sellers will still be unlikely to raise prices since, nowadays, buyers have become more prudent with negotiating prices in Lend Lease Paya Lebar Condo.
Paya Lebar Condo
National Parks Board (NParks) will transform the Jurong Lake Gardens into a garden for use by the community, National Development Minister Khaw Boon Wan reported in a blog post this morning for Paya Lebar Central Condo. Occupying over 70 hectare, the Jurong Lake District will include Jurong Lake Park, the Chinese Garden and the Japanese Garden. Heritage features at the Chinese and Japanese Garden will probably be retained but refreshed as part of Jurong Gardens, which will include Jurong Lake Park on the west side of the lake. There will be a completely new science centre in Jurong.
Newfort Realty’s plan change that would involve the conversion of a residential development into serviced apartments looks to be coming at a big cost. The freehold site located just off of Orchard Road will be running a price of nearly $10 million in taxes for the firm for Lake Grande Jurong West Condo information.
This private firm that, as of 2013’s year end, has been held by 5 shareholders, has been faced with a residential market that seems abysmal. As a result the firm put the breaks on 68 unit residential project that had been planned at 18 Mount Elizabeth Road, regardless of the fact that the show-flat was close to completion and a $3.9 million development charge for Lake Grande had already it the firm.
MCL Jurong Land Lake Grande
Initially, the firm had failed to get the approval needed by the Urban Redevelopment Authority for the conversion. They did, however succeed with its consecutive appeals. The firm has been committed to keep this MCL Land Condo, for at least fifty years, as a serviced residence.
Since the firm did not follow through on what it had intended for developing the residential project that is for sale, they now cannot qualify for the ABSD, or additional buyer’s stamp duty remission, causing them to be hit with a $10 million bill for ABSD as well as a 2 year period of interest FOR Lakeside MRT Condo, given the property had been acquired back in 2012.
Jurong West Street 41 Condo
Newfort Realty now has to spend an additional $25 to 30 million for refitting and refurbishing the mcl land condo into a serviced residence with 98 units that will then be managed and branded under Oakwood.
This comes in addition to another $92.2 million that the firm paid in 2012 in order to acquire Chateau Eliza, a freehold estate consisting of 37 units. The collective Jurong MCL Condo sale equates to a $1,743 psf ppr land price, and a price that made this the most pricey en bloc residential site since 2007’s Lake Grande Jurong West Street 41.
Some recent shophouse transactions have occurred recently, including in Hongkong Street for which the lease sold for 14.45 million Singapore dollars, which calculates to around 1,780 Singapore dollars on a gross floor area approximately 8,100 square foot. The shophouse, number 31 Hongkong Street, stands on a site measuring 1,747 square foot and the lease has 91 years remaining on the lease.
Principal Garden Condo by UOL
This price is lower than a Principal Garden UOL at number 39 for which 1,899 per square foot was paid in March 2015. This is partly because the land at number 31 is 20% small than that at number 39 and the lease has 97 years rather than 91 years left to run.
Both properties are at the maximum GFA for the area. Under the 2014 Urban Redevelopment Authority Plan 2014, this area is in a commercial zone. Principal Garden UOL Hongkong Street is in a conservation area, which is classed as a secondary settlement, meaning the front façade of the building must remain unchanged, but one can go up to 6 storeys at the back.
Principal Garden Prince Charles
Number 31’s seller is thought to be a shipping company and the buyer is 8M Real Estate. The shipping company will lease the premises from 8M for a short time. Ashish Mancharam director at 8M said that after that the premises will be refurbished and tenanted with a food outlet on the ground floor and offices above. 8M Real Estate was established by Ashish Mancharam, previously of JLL investments in Principal Garden UOL at Prince Charles Crescent, in 2014 and invests in boutique property. Mr. Mancharam said that he was attracted to the area because of the number of new food and beverage operators, who are revitalizing the area. He added that the area is popular with office tenants because of its proximity to the Central Business District and the MRT station Clarke Quay.