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mr funny
18-01-07, 10:56
Property
Published January 18, 2007

SC Global to launch high-end project by Q3

Units' prices in the two-tower freehold development are expected to exceed $2,800 psf


By UMA SHANKARI


SC GLOBAL Developments hopes to set a new benchmark in high-end living with the launch of its latest luxury project, the marQ on Paterson Hill, in the second or third quarter of this year.


http://img116.imageshack.us/img116/1085/bt548476917012007sz1.jpg
marQ of luxury: One of the two towers will feature a 15-metre private lap pool in every apartment


Units in the two-tower freehold development - where one tower will feature a 15-metre private lap pool in every apartment - are expected to fetch prices upwards of $2,800 per square foot (psf).

With the marQ, SC Global chief executive Simon Cheong hopes to re create the feeling of living in a good class bungalow (GCB) - but in a high-rise development. 'The marQ aims to create something that you can achieve in a bungalow, like staying on landed property,' he said, pointing out that most GCBs come with a private pool.

The marQ will have two 24-storey towers, but the number of units will be kept small - between 60 and 70 - to allow for bigger apartments. SC Global promises 'spacious homes', including 4,500 sq ft units and a 'one of a kind' 11,000 sq ft super penthouse.

Construction on the project will probably start in the third or fourth quarter of this year, Mr Cheong said. He added that he is in 'no rush' to launch the project, as much attention will need to be paid to the design and other details.

If launched in the second quarter, the marQ's debut will follow hot on the heels of Orchard Turn, which is expected to be offered to buyers in the next two months. The 99-year leasehold Orchard Turn is a joint venture between CapitaLand and Hong Kong's Sun Hung Kai Properties.

The project, located right above Orchard MRT station, also aims to create the feeling of 'super-luxury', and hopes to set new benchmark prices.

With these and other upmarket launches expected, Mr Cheong predicts that prices in the luxury segment could climb another 20 to 30 per cent this year.

Lending weight to his optimism, GuocoLand yesterday said that The View @ Meyer, an exclusive boutique development in the East Coast, has set a benchmark price for the Meyer Road area.

'Apartments on the higher floors with an unobstructed sea view have achieved selling prices of close to $1,700 psf,' said the company. 'The average price for the standard sea view units is close to $1,500 per sq ft, a price level not witnessed in the Meyer Road area in almost a decade.'

About 80 per cent of the 45 units at The View @ Meyer have been sold on a strictly by-appointment basis earlier this month, GuocoLand said.

While speculative activity has been rife for the high-end developments launched recently, Mr Cheong expects most of the marQ's buyers to be investors who will hold on to the property and in some cases, move in once the project is completed.

'The marQ is, by far, the most luxurious and ambitious of our developments to date,' said Mr Cheong. 'In keeping with our reputation for creating premium luxury developments, the marQ will raise the mark for ultra high-end luxury residences, not only in Singapore but also internationally.'

mr funny
24-01-07, 13:54
Singapore Companies
Published January 24, 2007

SC Global to set near record prices for marQ


SC GLOBAL Development Ltd, a builder of luxury apartments in Singapore, plans to price homes at its downtown project at 'north of $3,000 per square foot', chief executive Simon Cheong said.

The twin-tower development, called the marQ on Paterson Hill, will include 15-meter lap pools in every apartment for one block.

It is the latest residential offering in the area close to the Orchard Road shopping belt. In June, Kwek Leng Beng's City Developments Ltd set a record by selling units at its St Regis project at prices exceeding $3,000 per square foot.

'Property is a sentiment game, and one cannot predict the prices just through demand and supply,' Mr Cheong said in an interview yesterday.

The government has 'taken very major steps' to make Singapore into a global city. 'With that, you're looking at global pricing,' he added.

The developer plans to start selling homes in the downtown development in the second half, Mr Cheong said. SC Global said in March it bought the property for $266 million.

SC Global's shares have surged 70 per cent since the start of the year, the best performer on the Singapore property index. The stock lost 2 cents to close at $4.24 yesterday.

Singapore's private home prices rose for the 11th quarter in the last three months of 2006, the government said earlier this month.

'The Singapore market has been in the doldrums for so long that when fundamentals improve, prices start to run ahead,' said Leslie Chua, head of research at Jones Lang LaSalle. - Bloomberg

yktan
29-01-07, 02:08
This will be very very very expensive. St Thomas Suites is very cheap compared to this. If you want to live in Orchard, better buy now all the $1,700 psf condos because prices will never come back to this level again.

$$$$$$$$$$$$$$$
30-01-07, 01:38
do u think can be sold out? hmmmmmmmmmm.... why oei hong leong exited SC Global? $$$$$$$$$$$$$$$$$$$$$$$$$$$$

Madeira
30-01-07, 08:57
do u think can be sold out? hmmmmmmmmmm.... why oei hong leong exited SC Global? $$$$$$$$$$$$$$$$$$$$$$$$$$$$

It will be sold out. We r reaching the height of speculation for these luxurious properties. But by year end, when another 4000 of these units are launched, the fever would be gone. Many people would drown in their own pool.

teeceelee
30-01-07, 09:13
Madeira, I agree with you. Now I just sit back and enjoy the show. The worst scenario for me personally is that I may miss the boat but I have already factor in this in my decision liao! :)

yktan
30-01-07, 20:49
Madeira, I agree with you. Now I just sit back and enjoy the show. The worst scenario for me personally is that I may miss the boat but I have already factor in this in my decision liao! :)

So you are waiting to buy all the luxury properties when the price goes down huh? :D

teeceelee
31-01-07, 09:17
hi yktan, u r a joker lah :)

ryan
01-02-07, 16:39
Hey how are y'all doing. :cool: Glad to see more postings on this forum. This marQ will definitely set new price benchmarks in Orchard. Looking forward to viewing the show suite! :cheers6:

moneyspinner
20-06-07, 18:19
The Marq on Paterson Hill has been launched by SC Global at an average of S$4,000 psf. Price range from S$12.0 to $S30.0 million per unit. Are you interested? Pse see attachment.

124

ahlahdin
21-06-07, 01:18
First phase of The Marq on Paterson Hill priced between S$12m & S$30m

Posted: 20 June 2007 2226 hrs


SINGAPORE: Niche property developer SC Global is marketing the first phase of its latest project, The Marq on Paterson Hill, at an average S$4,000 per square foot.

This means 63 units of the development will cost between S$12 million and S$30 million each, excluding three penthouses.

The freehold Marq is expected to be the most luxurious and ambitious of SC Global's developments to date.

Each of the 21 ultra spacious 5-bedroom apartments will come with a 15-metre private heated lap pool.

SC Global will be releasing 21 units on a 'by invitation only' basis in the first phase of private previews. - CNA/yy

ahlahdin
21-06-07, 01:20
You were spot on.


This will be very very very expensive. St Thomas Suites is very cheap compared to this. If you want to live in Orchard, better buy now all the $1,700 psf condos because prices will never come back to this level again.

mr funny
21-06-07, 04:34
Published June 21, 2007

SC Global sees Marq fetching $4,000 psf

By UMA SHANKARI


BOUTIQUE property developer SC Global Developments yesterday said that it expects apartments in the first phase of its just-launched The Marq on Paterson Hill to fetch an average of $4,000 per square foot (psf).

http://www.businesstimes.com.sg/mnt/media/image/launched/2007-06-21/BT_6479279_21_06_2007.jpg
Lofty heights: Located on the top of Paterson Hill, The Marq has two 24-storey towers. One has 21 5-bedroom apartments and the other, 42 4-bedroom apartments

The absolute prices for the units will work out to $12-30 million each, SC Global said. The company is now marketing about one-third of the 66-unit luxury development through private previews, which are 'by invitation only'.

The average price for the first phase is 'reflective of the unique and exquisite finishing and detailing of the apartments', SC Global said in a statement. 'The Marq is the most luxurious and ambitious of SC Global's developments to date.'

Located on the top of Paterson Hill, The Marq has two 24-storey towers. One of the towers will consist of 21 spacious 5-bedroom apartments averaging 6,195 square feet, with each unit spread out over an entire floor.

The other tower will feature 42 relatively smaller 4-bedroom apartments averaging 3,000 square feet. The development also has three penthouses, which are not being sold at the moment.

'We are excited about the debut of The Marq,' said SC Global chief executive Simon Cheong. 'It has been eagerly awaited by the market since we announced the development concept a few months ago and we have been meticulously refining the plans to perfect the details.'

SC Global first announced plans for The Marq in January this year, and Mr Cheong said then that homes in the project would be priced 'north of $3,000 psf'.

The developer's stock climbed 10 cents to close at $6.25 yesterday. The company's share price has climbed 143.2 per cent since the start of the year.

mr funny
21-06-07, 17:31
June 21, 2007

SC Global unveils most expensive condo here

The Marq boasts average prices of $4,000 psf; units priced from $12m

By Fiona Chan, Property Reporter


SINGAPORE'S most expensive condominium project has just been released for sale with units priced between $12 million and $30million.

Apartments in The Marq on Paterson Hill will average $4,000 per sq ft (psf) in the initial phase - making it the first condominium in Singapore to reach this level in terms of average pricing.

The most expensive condominium sale on record is the uber penthouse at Marina Bay Residences, which was said to have fetched about $28.6 million, or $2,600 psf.

On a psf basis, only three projects have breached the $4,000 level: Orchard Residences in Orchard Turn, Parkview Eclat in Grange Road and St Regis Residences in Cuscaden Road.

St Regis also holds the record for the highest psf unit price, with an apartment there selling for a whopping $4,653.50 psf recently.

SC Global will release 21 of The Marq's 66 units in the first phase, with private previews offered to invited buyers only.

The available units in this phase will be spread across both towers, the developer said.

The Marq will have two 24-storey towers, one hosting 21 five-bedroom apartments averaging 6,195 sq ft.

Each of these units - each occupying an entire floor - will have a 15m private heated lap pool.

The other tower will have 42 four-bedroom apartments of 3,000 sq ft in size on average.

To justify the high price, each apartment will have bathrooms with steam and shower rooms.

The master bedrooms will come with walk-in wardrobes of up to 30 sq ft - the same size as a typical bedroom in most residential developments, said SC Global.

It added that the project will have an on-site concierge service and 6.5m-high ceilings for the living areas in each unit.

'We want to ensure The Marq offers unparalleled luxury,' said Mr Simon Cheong, SC Global's chairman and chief executive.

'As Singapore becomes more entrenched as a global city, developments such as The Marq will cater to the increasing demands of its internationally discerning residents.'

Foreigners are likely to make up about two-thirds of The Marq's buyers, said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

He said The Marq is 'the sort of project that will appeal most to high net-worth individuals'.

'I wouldn't be surprised if the cost of construction of this development is close to $1,000 psf,' he added.

The Marq is built on the former Paterson Tower site acquired by SC Global in March last year for $266 million, or $1,064 psf of total floor area.

[email protected]


Uber luxurious

SC GLOBAL will release 21 of The Marq's 66 units in the first phase, with previews offered to invited buyers only. It says the available units in this phase will be spread across both towers of the project.

'We want to ensure The Marq offers unparalleled luxury,' said its chief executive, Mr Simon Cheong.

moneyspinner
28-06-07, 17:19
Phase 1 - Fully Sold!!!!!!!!! Do you believe that!

Paterson
28-06-07, 18:16
28 June 2007

First Phase of The Marq Fully Sold
Units sold at an average S$4,137 psf, with a highest price of S$5,100 psf

Singapore, 28 June 2007 - SC Global Developments Ltd, one of Singapore’s leading developers of exclusive luxury residences, is pleased to announce that it received overwhelming response to the first phase of private previews for its ultra luxurious residential development, The Marq On Paterson Hill (‘The Marq’). Previews were by invitation only.

The first phase – about a third of all available apartments – comprising 21 units from the two blocks, Premier Tower and Signature Tower – have been fully sold. The average selling price achieved was $4,137 per square foot. Of the 21 units sold, eight apartments were within The Signature Tower, highly coveted for its signature 15-metre private lap pool in every unit. Prices for the entire development ranged from approximately S$11 million to S$31 million, with a unit in the Signature Tower achieving S$5,100 psf.

The Marq on Paterson Hill is 24 storeys high; the 3 penthouses which occupy the top two floors of the building and apartments on the higher floors were not released in the first phase of private previews. The Signature Tower will be home to 21 ultra spacious 5 –bedroom apartments averaging 6,195 sq ft, beside it will stand the Premier Tower with 42 luxuriously appointed 4 –bedroom apartments averaging 3,000 sq ft.

SC Global Developments has no confirmed date for the release of the second phase of units at this point.

Unregistered
29-06-07, 00:08
I CANT BELIEVE IT MAN. WHAT IS GOING ON???? WOW!!!

I should have know why SC global Bought The ardmore for $2350.

This is why!!!!

Next luxury condo that can beat this record will be scotts square!!!

mr funny
29-06-07, 04:58
Published June 29, 2007

SC Global's The Marq sets new record for homes

Unit sold for top price of $5,100 psf; hot demand also for UOL's project

By UMA SHANKARI


A NEW record for home prices in Singapore has been set, once again. A unit in SC Global's freehold The Marq On Paterson Hill has been sold for $5,100 per square foot (psf), the developer said yesterday.

http://www.businesstimes.com.sg/mnt/media/image/launched/2007-06-29/BT_6530747_28_06_2007.jpg
The Marq: SC Global released 21 units which were all snapped up, with an average price of $4,137 psf

SC Global, a developer of exclusive luxury residences, said it has sold all 21 apartments it released in the first phase of its 66-unit luxury development at an average selling price of $4,137 psf. The project started previewing last week.

The previous record for home prices was held by Parkview Eclat, where developer Chyau Fwu Group said it sold a four-bedroom apartment for 'almost $4,200 psf'.

At The Marq, absolute prices for apartments ranged from about $11 million to $31 million, SC Global said.

Another luxury property - in the Bukit Timah area this time round rather than Orchard - has similarly seen hot demand. About 70 per cent of the UOL Group's 120-unit Duchess Residences has been sold with prices crossing the $2,000 psf mark for several apartments, the company said. Sources said that the highest price fetched was in the region of $2,100 psf.

Duchess Residences started previewing on Monday, but most of the units were snapped up over four hours yesterday, BT understands. The project will be officially launched tomorrow, UOL said.

'This (the high prices) confirms that the Bukit Timah area is seeing a lot of pent-up demand, and people are looking to buy,' said Ku Swee Yong, director of marketing and business development at Savills Singapore.

Savills is marketing Duchess Residences together with DTZ Debenham Tie Leung.

Bukit Timah, which made waves during the last property boom, is expected to make a comeback this year. Other than Duchess Residences, at least five other developments will be launched there in the coming months, with prices expected to cross the $2,000 psf mark - a level not seen for the past 10 years.

SC Global shares traded unchanged at $6.40 yesterday before a late afternoon trading halt ahead of the announcement. UOL's stock closed 15 cents higher at $5.80.

Unregistered
29-06-07, 10:13
The Marq's sold out so well means the developer not so clever one, selling too low. If market is a pure demand/supply, then the highest price for a property will be at the point (meeting point) of same number of demand and supply. If too many demands compared to supply like the marq, that means developer didn't do enough homework to price it right. It's almost the perfect market for developer, so it can even push the meeting point higher by predicting that even if demand at that extremely high meeting point is below that of supply, give it 1 or 2 weeks, and the equilibrium will be reached. If I were the developer, I will pay abit more attention to econimics. Only then will it be playing to market forces. I think The Marq can easily go for 7000 to 7500 psf and it will be sold out within 2 weeks (but it won't sell out immediately). So I think this developer not clever one. For high net worth individuals at such luxury condo, paying 2 or 3 million more for a unit is small change and small consideration. If they like it, they will demand it. It's about social status also. The higher they paid for their condo, the richer and better will their peers think of them and want to associate and do business with them - "Wah, friend, you bought the Marq. Heard it costs 7500psf. How about golf next week? My company is looking for an independent director."

Unregistered
29-06-07, 10:32
Madeira, I agree with you. Now I just sit back and enjoy the show. The worst scenario for me personally is that I may miss the boat but I have already factor in this in my decision liao! :)

I am not seeing you no up. But even if you want to board the boat, and assuming ou can afford 11m to 31m (or the bank is okay to give you that kind of loans), you still need a special invitation. So it's not about missing the boat. But you're right on about sitting back and enjoy the show. That's all poor people like me can do and lau nua (salivate).

Unregistered
29-06-07, 10:36
The Marq's sold out so well means the developer not so clever one, selling too low. If market is a pure demand/supply, then the highest price for a property will be at the point (meeting point) of same number of demand and supply. If too many demands compared to supply like the marq, that means developer didn't do enough homework to price it right. It's almost the perfect market for developer, so it can even push the meeting point higher by predicting that even if demand at that extremely high meeting point is below that of supply, give it 1 or 2 weeks, and the equilibrium will be reached. If I were the developer, I will pay abit more attention to econimics. Only then will it be playing to market forces. I think The Marq can easily go for 7000 to 7500 psf and it will be sold out within 2 weeks (but it won't sell out immediately). So I think this developer not clever one. For high net worth individuals at such luxury condo, paying 2 or 3 million more for a unit is small change and small consideration. If they like it, they will demand it. It's about social status also. The higher they paid for their condo, the richer and better will their peers think of them and want to associate and do business with them - "Wah, friend, you bought the Marq. Heard it costs 7500psf. How about golf next week? My company is looking for an independent director."

If $7000 is achieved, The scotts square could easily sell for $10000.

Ok, Many developers are now also looking to sell condos around $1500-$2000 price range now because market share for private condo around that price is the largest I think.

The bukit timah area will see many new developments this coming months.
Duchess as we know is already SOLD OUT at $1900 according to one forumer here. This is probably There are tons of buyers in this price range.
We will definitely see a number of enbloc around this area.

Another area that could be targeted by developers will be D 3 and 15.

Unregistered
29-06-07, 10:40
The Marq's sold out so well means the developer not so clever one, selling too low. If market is a pure demand/supply, then the highest price for a property will be at the point (meeting point) of same number of demand and supply. If too many demands compared to supply like the marq, that means developer didn't do enough homework to price it right. It's almost the perfect market for developer, so it can even push the meeting point higher by predicting that even if demand at that extremely high meeting point is below that of supply, give it 1 or 2 weeks, and the equilibrium will be reached. If I were the developer, I will pay abit more attention to econimics. Only then will it be playing to market forces. I think The Marq can easily go for 7000 to 7500 psf and it will be sold out within 2 weeks (but it won't sell out immediately). So I think this developer not clever one. For high net worth individuals at such luxury condo, paying 2 or 3 million more for a unit is small change and small consideration. If they like it, they will demand it. It's about social status also. The higher they paid for their condo, the richer and better will their peers think of them and want to associate and do business with them - "Wah, friend, you bought the Marq. Heard it costs 7500psf. How about golf next week? My company is looking for an independent director."

Or 1 year later, "Wah, friend, you biught the Marq at 7500psf. Heard it now costs only 1500psf. My company needs to appoint new independent director. We will ask you to resign tomorrow."

Market Watcher
29-06-07, 11:23
If $7000 is achieved, The scotts square could easily sell for $10000.

Ok, Many developers are now also looking to sell condos around $1500-$2000 price range now because market share for private condo around that price is the largest I think.

The bukit timah area will see many new developments this coming months.
Duchess as we know is already SOLD OUT at $1900 according to one forumer here. This is probably There are tons of buyers in this price range.
We will definitely see a number of enbloc around this area.

Another area that could be targeted by developers will be D 3 and 15.


Highest price done for Duchess is $2,100 psf.
$1,900 psf is the average selling price.

Unregistered
29-06-07, 12:29
$2100 wow.

Neighbouring freehold NEXUS, MAPPLEWOODS and THE STERLING are selling $1200 PSF.
That would be a steal!!!!

Jardin and cascadia will definitely go above $1500psf.

mr funny
29-06-07, 13:03
June 29, 2007

One unit at The Marq sold for record $5,100 psf

Its $31m total price is also likely to be the highest ever paid for a single unit in S'pore

By Fiona Chan, Property Reporter


http://www.straitstimes.com/STI/STIMEDIA/image/20070628/ST_IMAGES_MNYFIOMARQ.jpg
OPULENT LIVING: The record-setting apartment was one of eight sold in the Signature Tower, which boasts a 15m private lap pool in every unit. -- PHOTO: SC GLOBAL


THE price of a condominium unit in Singapore has crossed the $5,000 per sq ft (psf) mark for the first time.

The all-time high was set by at least one apartment in The Marq on Paterson Hill, the latest project by luxury developer SC Global.

This 6,195 sq ft unit fetched $5,100 psf, or a total of about $31 million - also believed to be the highest price ever paid for a single condominium unit, said SC Global.

All the 21 units released at The Marq been taken up, just a week after SC Global said it would offer them at an invitation-only preview.

The apartments sold at the 66-unit development achieved an average price of $4,137 psf, SC Global said in a statement.

Each unit was priced at between $11 million and $31 million.

Prices of luxury condominiums have soared to new heights since the beginning of the year.

In March, they crossed the $4,000 psf mark at CapitaLand's The Orchard in Orchard Turn and two weeks ago, an apartment in St Regis Residences in Cuscaden Road, developed by City Developments, fetched a record $4,635.50 psf.

Even The Marq's record may not last for long, say property experts.

As Singapore's property developers start catering more to 'ultra-high net worth individuals' from around the world, condominiums are likely to get more expensive, said Mr Ku Swee Yong, director of marketing and business development at Savills Singapore.

'We will continue seeing more and more opulent types of developments coming into the market, which will support continued growth in capital values,' he added.

Despite the roaring market, average prices of Singapore's most luxurious condominiums are still below those in major cities.

In Tokyo and Hong Kong, for instance, the average price of the most prime apartments is more than $3,000 psf, Mr Ku said.

In New York, it is $4,000 psf, and in London, it can go up to $9,000 psf. The average price of luxury condominiums in Singapore is about $2,000 psf.

The record-setting apartment at The Marq was one of eight sold in the development's Signature Tower, which boasts a 15m private lap pool in every unit. Each unit takes up an entire floor.

Although SC Global would not disclose the nationality of the buyer who forked out $31 million, it said that 65 per cent of The Marq's buyers so far have been foreigners.

They hail from Indonesia, Malaysia, Britain, China and India, the developer added.

SC Global also said it has not yet finalised a date for the release of the other units at The Marq.

[email protected]

mr funny
30-06-07, 09:57
Weekend, June 30, 2007

First units at high-end condo The Marq sold out at $4,137psf


There seems to be no end in sight for the spiralling property prices in the high-end luxury market.

SC Global Developments, a specialist in the development of luxury residences, announced that the first phase of The Marq sold out at prices averaging $4,137psf.

The units that were sold ranged between $11 million to $31 million.

This sale of the first phase of the development comprised 21 units from the Premier Tower and Signature Tower.

Eight of these were in the Signature Tower, where every unit came with a private 15-metre lap pool. The tower features 21 five-bedroom apartments averaging 6,195sqft. The unit that sold for $31 million reflected a price of $5,100psf.

The remaining 13 units sold were in the Premier Tower, which has 42 four-bedroom apartments that are around 3,000sqft in size.

The release of the second phase of units of The Marq will be announced at a later date.

— Joseph yadao

Unregistered
13-07-07, 14:40
Why is it call the MarQ? Sounds to me a little low-class. Like the Market.

Unregistered
13-07-07, 14:42
Why is it call the MarQ? Sounds to me a little low-class. Like the Market.

Or like the Mob. Or the Mass. The MarQ for the Mob. The MarQ for the Masses. The Market Place for the Mob and the Masses. Reall sounds like that to me. But c'mom guys, this is The MarQ - don't play play. Got all the multi-millionaires.

mr funny
17-07-07, 04:54
Published July 17, 2007

60% of The Marq buyers are foreigners

SC Global will price penthouses at $5,000 per sq ft


(SINGAPORE) SC Global Development Ltd, which sold homes at its The Marq apartment project at a record price last month, said foreigners made up about 60 per cent of the buyers.

SG Global will price its penthouses, twice the size of its regular apartments at the development, at about $5,000 per square foot (psf), matching the record $5,100 achieved in other units, chief executive officer Simon Cheong said in an interview yesterday.

Singapore home prices are surging, driven by the longest economic expansion in a decade and the world's fastest-growing population of millionaires. Investors paid between $11million and $31 million for the first 21 homes sold at The Marq, a five-minute walk to the main shopping district of Orchard Road. The units fetched an average price of $4,137 psf, the company said on June 28.

'Singapore's becoming more and more of a global city, and our buyers are well travelled and well heeled, and they compare our product against those in other gateway cities around the world, and they find the prices to be reasonable,' Mr Cheong said.

SC Global shares were unchanged at $6.70 at the 5.05 pm close. SC Global's stock almost tripled this year, compared with the 37per cent average gain for Singapore property index. -- Bloomberg

pweesng
16-06-09, 18:12
I am just reading back some of the past post... I can't help but think... the guy who wrote the below.... he must be feeling really stupid now...:doh:



The Marq's sold out so well means the developer not so clever one, selling too low. If market is a pure demand/supply, then the highest price for a property will be at the point (meeting point) of same number of demand and supply. If too many demands compared to supply like the marq, that means developer didn't do enough homework to price it right. It's almost the perfect market for developer, so it can even push the meeting point higher by predicting that even if demand at that extremely high meeting point is below that of supply, give it 1 or 2 weeks, and the equilibrium will be reached. If I were the developer, I will pay abit more attention to econimics. Only then will it be playing to market forces. I think The Marq can easily go for 7000 to 7500 psf and it will be sold out within 2 weeks (but it won't sell out immediately). So I think this developer not clever one. For high net worth individuals at such luxury condo, paying 2 or 3 million more for a unit is small change and small consideration. If they like it, they will demand it. It's about social status also. The higher they paid for their condo, the richer and better will their peers think of them and want to associate and do business with them - "Wah, friend, you bought the Marq. Heard it costs 7500psf. How about golf next week? My company is looking for an independent director."

Reporter
23-12-09, 18:08
http://www.h88.com.sg/images/h88_masthead_logo.jpg
Rëcörd price for retail shop
H88
Wednesday, 23 December 2009, 15:29

http://www.h88.com.sg/images/content/2009-12-23/walking_on_gold.jpg

Units at The Marq On Paterson Hill transacted at $5,262 psf in August 2007 and The Orchard Residences (above Ion) at $5,600 psf in October 2007. So you think our high-end condos are expensive? Wait till you hear about another ïnsänë retail shop purchase in Hong Kong - at $135,ÖÖÖ psf!

The 1,212 sqft shop is located at the busy Tsim Sha Tsui district and houses the luxury retailer Emperor Watch & Jewellery, owned by the music tycoon Albert Yeung.

At $135,000 psf, the shop transacted at $163m - you could buy 20 units at The Marq, or both Anson and VTB buildings in the CBD and still have cash left over.

I did some rough calculations; assuming we pave the entire floor of the shop in 2cm thick gold bars - it works out to be almost the same price, give or take a couple of million bucks.

I don't know about you guys, but that shop looks kinda run down, like something you'll see in Little India. What say you?

http://d.yimg.com/a/p/afp/20091222/capt.photo_1261464950926-1-0.jpg
The exterior of the Emperor jewellery shop on Canton Road in Hong Kong, which was sold for US$108 million

mr funny
25-01-11, 20:09
http://www.straitstimes.com/Money/Story/STIStory_627549.html

Jan 24, 2011

SC Global to provide 'butler-style' service

By Cheryl Lim


FIVE-STAR service, once exclusive to private households, hotels, castles and palaces, will be now available at all of developer SC Global's properties such as Hilltops along Cairnhill Circle.

This swish service will also be on offer at the properties the firm manages, including the Lincoln Modern at Newton.

SC Global is going the extra mile, by training its property management staff to act and think intuitively when serving residents at its properties.

Concierge service will be available at SC Global's four properties while the properties the group manages will have off-site concierge service available.

About 25 frontline staff including condo managers, concierges and technicians from all its properties have undergone a customised six-day programme conducted by Mr Robert Watson, trainer and managing director of the prestigious Guild of Professional English Butlers.

SC Global marketing communications manager Sarah-Jane Smith said exceptional service comes from being observant and picking up on the smaller details.

'(The training will cover) what are the things you think about when you are talking to someone so that you can provide exceptional service,' said Ms Smith. 'Noticing their details, patterns and lifestyles so that you can think 'how I can better provide for them'.'

This attention to detail will eventually cultivate long-term service relationships with residents, said Ms Smith, and is something that will leave residents feeling 'relaxed and comfortable'.

But these soft skills, which could be as simple as remembering a resident's birthday or their preference for tea, often take years to cultivate, said Ms Smith.

SC Global's long-term plan is to send more of its staff for such training.

These skills, she said, will allow SC Global to build up a system of consistently good service.

This will be done through regular training sessions conducted by the guild and creating a 'domino chain' of getting trained staff to pass on their skills and knowledge to their colleagues.

Staff will also undergo different variations of the course to expose them to a range of service scenarios. Examples of these variations would include on-the-job training and individual coaching.

Skills, Mr Watson said, will set them apart from other service providers in Asia, which typically do not have a proactive approach towards service.

Having previously worked with international celebrities such as the late Michael Jackson, Mr Watson has been exposed to many different markets.

But he said Singapore could be a challenging market to serve in because of its multi-cultural environment.

This means staff will need to adapt their services to suit the individual nuances of each culture.

'For example, the English are a little stiff and formal and have to stop for afternoon tea. And if you have an American guest, as long as you've got tomato ketchup on the table you're fine,' said Mr Watson.

proper-t
18-05-11, 09:18
Business Times - 18 May 2011

Apartment at The Marq fetches $5,842 psf, sets a new price record
By KALPANA RASHIWALA (SINGAPORE)

A new record has been set for the price of a private residential property in Singapore. Sources say that a four-bedroom apartment at SC Global Developments' The Marq on Paterson Hill recently fetched $5,842 per square foot, surpassing the previous high of $5,600 psf set in October 2007 at The Orchard Residences.

The latest transaction at The Marq also sets a new benchmark for the project, surpassing the $5,262 psf that was achieved in 2007 for a 16th floor unit which was sold for $15.8 million, according to caveats data. Both units are of the same size, 3,003 sq ft.

The latest record breaker at The Marq, which involves a lump sum price of $17.5 million, is understood to be on the mid-to upper levels of the 24-storey project but is not a penthouse unit. The freehold development received Temporary Occupation Permit (TOP) earlier this year and with the latest transaction, slightly over 40 per cent or 28 of the development's 66 units have been sold.

The penthouse unit at The Orchard Residences that held the previous record price of $5,600 psf is on the 53rd level and involved a lump sum price of $28.269 million. However, a caveat for that 5,048 sq ft unit does not appear to have been lodged, probably because the high net worth party who bought the apartment did not take any financing for the purchase and wants to preserve anonymity.
The Orchard Residences, which received Temporary Occupation Permit late last year, is on a site with a 99-year leasehold tenure starting around March 2006.

Pointing to a dearth of condo/apartment transactions above $5,000 psf since the previous property boom in 2007, Jones Lang LaSalle's head of residential and national director Jacqueline Wong attributes this to a lack of new project launches in the ultra-luxury segment, as well as the fact that demand from foreign investors in this segment has yet to recover to the level seen in 2007 because of the current state of the global economy.

'I don't recall any launches at $4,500 psf or higher, post 2007. Right now there are five new projects in the prime Ardmore Park area whose developers could launch them if they chose to - but they haven't,' she added.

Analysts say that developers' strong balance sheets and the difficulty they face in finding replacement land banks in the luxury residential sector at viable prices are some reasons for developers to hold back launches in this market segment.

'If any developer were to launch a new condo at above say $5,000 psf today, demand will likely come from owner occupiers rather than those buying with a view to collecting rental income because the yields won't be attractive,' JLL's Ms Wong said.

jezz
19-05-11, 19:52
I saw the article. The transacted is 18million. It will be 18 of 1million 1 bedders apartment in district 11. Omg

Wonder if put up for rent how much he shld b asking for? If a 1 bed in district 11 is asking for 3.5k and multiply by 18, the asking rental will be 63k per mth.

Tpl $15k will not b able to afford lah


Business Times - 18 May 2011

Apartment at The Marq fetches $5,842 psf, sets a new price record
By KALPANA RASHIWALA (SINGAPORE)

A new record has been set for the price of a private residential property in Singapore. Sources say that a four-bedroom apartment at SC Global Developments' The Marq on Paterson Hill recently fetched $5,842 per square foot, surpassing the previous high of $5,600 psf set in October 2007 at The Orchard Residences.

The latest transaction at The Marq also sets a new benchmark for the project, surpassing the $5,262 psf that was achieved in 2007 for a 16th floor unit which was sold for $15.8 million, according to caveats data. Both units are of the same size, 3,003 sq ft.

The latest record breaker at The Marq, which involves a lump sum price of $17.5 million, is understood to be on the mid-to upper levels of the 24-storey project but is not a penthouse unit. The freehold development received Temporary Occupation Permit (TOP) earlier this year and with the latest transaction, slightly over 40 per cent or 28 of the development's 66 units have been sold.

The penthouse unit at The Orchard Residences that held the previous record price of $5,600 psf is on the 53rd level and involved a lump sum price of $28.269 million. However, a caveat for that 5,048 sq ft unit does not appear to have been lodged, probably because the high net worth party who bought the apartment did not take any financing for the purchase and wants to preserve anonymity.
The Orchard Residences, which received Temporary Occupation Permit late last year, is on a site with a 99-year leasehold tenure starting around March 2006.

Pointing to a dearth of condo/apartment transactions above $5,000 psf since the previous property boom in 2007, Jones Lang LaSalle's head of residential and national director Jacqueline Wong attributes this to a lack of new project launches in the ultra-luxury segment, as well as the fact that demand from foreign investors in this segment has yet to recover to the level seen in 2007 because of the current state of the global economy.

'I don't recall any launches at $4,500 psf or higher, post 2007. Right now there are five new projects in the prime Ardmore Park area whose developers could launch them if they chose to - but they haven't,' she added.

Analysts say that developers' strong balance sheets and the difficulty they face in finding replacement land banks in the luxury residential sector at viable prices are some reasons for developers to hold back launches in this market segment.

'If any developer were to launch a new condo at above say $5,000 psf today, demand will likely come from owner occupiers rather than those buying with a view to collecting rental income because the yields won't be attractive,' JLL's Ms Wong said.

Regulators
19-05-11, 19:56
The marq really makes paterson residences and paterson linc seem very cheap

jezz
19-05-11, 23:20
The marq really makes paterson residences and paterson linc seem very cheap
The marq got statue of a horse. Just like in HK peninsula hotel got 2 goddess statue. It will bring in lot of fortune. Huat ah

Regulators
20-05-11, 00:08
you want statue can buy 20 statues and put in your house, don't need to pay $2xxxpsf more than paterson residences mah


The marq got statue of a horse. Just like in HK peninsula hotel got 2 goddess statue. It will bring in lot of fortune. Huat ah

devilplate
20-05-11, 00:19
you want statue can buy 20 statues and put in your house, don't need to pay $2xxxpsf more than paterson residences mah
I aso wonder y such a big px gap....

Teddybear got the answer?

teddybear
20-05-11, 00:47
Very simple - Just look at both condo estates: Marq@Paterson vs Paterson Residences - they are just separated by the same road. Property value is in the land, not in the building, even $800 psf building costs difference for same FH land, you can have golden taps and golden toilet WC liao! To me, it simply means PR is seriously under-valued while M@Q is overvalued that is over-hyped up by the developer (got developer to push up prices mah)! :cheers1:


I aso wonder y such a big px gap....

Teddybear got the answer?

reporter2
21-11-11, 18:06
http://www.businesstimes.com.sg/sub/news/story/0,4574,466005,00.html?

Published November 21, 2011

Latest sale sets another peak at The Marq

By KALPANA RASHIWALA


(SINGAPORE) SC Global Developments has been able to set a new record price at The Marq on Paterson Hill once every three months since May this year.

http://www.businesstimes.com.sg/mnt/media/image/launched/2011-11-21/BT_IMAGES_KRGO21.jpg
The Marq: In the latest deal, a four-bedroom apartment is understood to have sold for about $20.5 million

In the latest transaction, a 3,003-sq-ft, four-bedroom apartment in the Premier Tower is understood to have sold for nearly $6,850 per square foot (psf) or about $20.5 million.

This tops the previous record set in August for $6,394 psf, which in turn broke the May record of $5,842 psf. In all three cases, the units are of the same size and in the same tower.

The latest record comes fresh on the heels of news last month of a world-first collaboration between Hermes and SC Global. Designers from the French luxury house will fit out a 6,232-sq-ft, five-bedroom apartment in the Signature Tower at The Marq, with a combination of furniture, fabrics, rugs, carpets, wallpaper and made-to-measure upholstered items. The world's first Hermes apartment is due to be ready next year and will be kept by SC Global for private functions and Hermes exclusive events. It will not be for immediate sale.

The Marq, a freehold project which received Temporary Occupation Permit in January this year, comprises two 24-storey towers with a total of 66 units.

Still, despite SC Global hitting the high notes with The Marq, the luxury apartment market in Singapore is generally quiet compared to its heyday in 2007, say market watchers.

'The majority of buyers in this segment are foreigners. Singaporean buyers typically aim for Good Class Bungalows, since the absolute price for a GCB is quite similar to that for a luxury apartment in a project like The Marq,' says Jones Lang LaSalle's head of residential and national director Jacqueline Wong.

'It is foreigners, who don't qualify to buy a GCB, who are the main players looking at luxury condos right now. Their interest in buying property in Singapore has never dissipated; their interest is still there. But due to the global uncertainty including European debt crisis, everybody's more cautious, more selective now. They want value buys or fire sales - but these are difficult to find in Singapore as our high-end developers are deep-pocketed,' added Ms Wong.

Market watchers note that SC Global has been able to achieve benchmark prices at The Marq despite thin sales volumes generally in the luxury residential sector.

Ms Wong points to the developer's track record of consistently improving its product in terms of quality, design and concept. 'It has always reinvented itself. Take The Marq, for instance. The Signature Tower has an interlocking design for each of the apartments (which are over 6,000 sq ft) so that it feels like a penthouse even for units on lower floors - with double-volume ceiling height in the living and dining area and a private pool for each apartment.

'(SC Global chairman and chief executive) Simon Cheong has paid careful attention to the project's details even in the common areas like the lobby. There's a club lounge/ library where they serve drinks, and the gym is fully equipped. There's a concierge service, and sculptures and other artwork on display in various parts of the development.'

reporter2
12-08-12, 02:04
http://www.businesstimes.com.sg/archive/saturday/premium/top-stories/marq-6th-most-expensive-globally

Published August 11, 2012

The Marq is 6th most expensive globally

The Paterson Hill project designed by Hermès joins elite ranking of costliest homes in top world cities

By zeinab yusuf saiwalla

http://www.businesstimes.com.sg/archive/saturday/sites/businesstimes.com.sg/files/imagecache/image_300x200/BT_20120811_11ZYMARQ11_109758.jpg
DESIGNER HOMES
Hermès furniture, furnishing fabrics, wallpapers, carpets, tableware, along with made-to-order leather upholstered items - BT FILE PHOTO: ARTHUR LEE CH

Uptown addresses (http://www.businesstimes.com.sg/archive/saturday/sites/businesstimes.com.sg/files/BT_20120811_ZYMARQ11RVC5_110156.pdf)

THE Republic's most expensive residential real estate, The Marq on Paterson Hill, was ranked sixth in a global comparison of record transactions in the top 10 "world class" cities, according to a recent study by international real estate adviser Savills.

No previous-year data was available as this was the first time Singapore was included in the rankings.

With a hefty price tag of £3,400 (S$6,606) per square foot, the luxury residence designed by French label Hermès hit the headlines when the transaction was made in 2011.

"The sharp rise in high-end prices for The Marq captured our attention, which deservedly entered Singapore into the ranking," said Savills Singapore research head Alan Cheong.

All the spacious 6,200 sq ft apartments at the Signature Tower at The Marq, developed by SC Global Developments, feature a carefully curated combination of Hermès furniture, furnishing fabrics, wallpapers, carpets, tableware, along with made-to-order leather upholstered items and a choice of artworks.

It is no wonder then, that it made it to the league of the most expensive homes in top world cities.

The league table shows the top three "world class" cities closely grouped with records set at over £8,000 psf.

London's Kensington Garden Palace continued to hold top spot for the fourth year, after setting a record-breaking price of £8,500 psf for a home in 2008.

Following closely behind was the transaction for a house in Hong Kong's Deep Water Bay Road, which sold at £8,400 psf and an apartment in New York's 15 Central Park West which fetched a price of £8,300 psf. Both were transacted in 2011.

"Seven out of 10 of the record transactions were undertaken within the last two years and six out of the 10 properties were new builds. The fact that these prices have been achieved during the global residential market's most turbulent times illustrates the autonomy with which the billionaire market operates, fuelling the very top of the market," said Yolande Barnes, director of Savills global research.

oda
13-08-12, 15:26
GOod Report!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

reporter2
10-01-13, 17:47
http://www.straitstimes.com/archive/wednesday/premium/money/story/sc-global-pay-55m-sales-extension-20130109

SC Global to pay $5.5m for sales extension

Published on Jan 09, 2013

By Magdalen Ng


LUXURY developer SC Global Developments has to pay $5.5 million for a six-month extension on the stipulated period for selling The Marq on Paterson Hill.

The company, which is in the midst of a privatisation bid, disclosed the impost on Monday in a statement on the status of the bid.

SC Global is the first developer to announce that it has to pay such a charge to obtain an extension on the usual seven years for selling all units at a new property.

The firm said it had received a letter from the Singapore Land Authority dated Jan 4 stating that the Controller of Residential Property is prepared, in principle, to grant approval for the limited qualifying certificate extension.

This would be granted if SC Global paid about $5.5 million by Feb 1.

Under the Residential Property Act, developers whose shareholders and directors are not all Singaporeans have to get a qualifying certificate to buy residential property for development.

With the certificate, developers have up to five years to build the project and sell all the units within two years of obtaining the temporary occupation permit.

If developers cannot meet the deadline to sell all units, they may face a pro-rated extension charge, based on the proportion of unsold units.

The Marq has 34 out of 66 units unsold.

SC Global declined to comment further on other qualifying certificate charges it may have to pay.

The company's other current project, Hilltops, has sold only 45 out of 241 units. The developer has until about June to complete the Hilltop sales.

The announcement comes amid the privatisation bid by chairman and chief executive Simon Cheong, who is offering $1.80 per share. He requires another 8.85 per cent of SC Global shares in order to bring the free floating shares to below 10 per cent.

Once that happens, Singapore Exchange rules deem the firm should be taken private.

In a circular to investors by Prime Partners Corporate Finance, the independent financial adviser noted that the relevant qualifying certificate extension charges will apply to each completed property regardless of whether SC Global remains listed.

SC Global shares closed one cent down at $1.815 yesterday, their lowest level in more than three weeks.

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