Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

[PropVestor]

"The app will serve as a one-stop interface for services such as e-booking of residential facilities, concierge services and restaurant reservation." Ready in Q42017

https://www.edgeprop.sg/content/ms-developing-app-marina-one-and-duo

[BillyCutie]

Congrats to owners of DUO Residences !

I focus on tenancy to expats and serve landlords mainly with CBD properties.
DUO Residences is the latest project we shortlist for our expats coming in soon.

Do give me a call or text. Happy holiday.

Warm Regards from Jessica, 96347898

[new2mondrian]

This thread has gotten quiet. :) presume everyone has either rented out, or settled in comfortably, or busy with settling in after collecting keys.

By the way, Andaz Singapore is open for booking. Ideas for staycation during school hols, especially for those who have rented their Duo units out.

https://singapore.andaz.hyatt.com/en/hotel/home.html

[Hippyee]

This thread has gotten quiet. :) presume everyone has either rented out, or settled in comfortably, or busy with settling in after collecting keys.

By the way, Andaz Singapore is open for booking. Ideas for staycation during school hols, especially for those who have rented their Duo units out.

https://singapore.andaz.hyatt.com/en/hotel/home.html

Pets allowed?

[kellogs]

I have not got my keys yet ...

[lec50000]

I have not got my keys yet ...

Some residents are already moving in

[scorpio_sg]

You want to check with your lawyer.

I have not got my keys yet ...

[new2mondrian]

Some residents are already moving in

My tenant moved in for a few weeks too...

Kellogs, yup should check with your lawyer.

[lec50000]

Hi.
Rental rate good?got $8psf?

[kellogs]

My tenant moved in for a few weeks too...

Kellogs, yup should check with your lawyer.

I have checked with my lawyer and she said developer has not contacted them ...

[new2mondrian]

Hi.
Rental rate good?got $8psf?

Mine isn't a studio/one-bedder, hence cannot get $8psf. But am quite satisfied. Close to $6psf.

[kellogs]

anyway developer called me and mentioned my units are not ready ...

[PropVestor]

If it helps, there are still patches of work going all over. The carpark ramp is closed till end of this week and you will have to drive against the traffic to get to the basement carpark. If you do not want to see or experience all these inconveniences, taking keys later might not be a bad idea.

[lec50000]

If it helps, there are still patches of work going all over. The carpark ramp is closed till end of this week and you will have to drive against the traffic to get to the basement carpark. If you do not want to see or experience all these inconveniences, taking keys later might not be a bad idea.


Ya, saw gondola still hanging externally

[new2mondrian]

Rental yield is pretty bad for this project. Studio were transacted average 1.05M but closing rental is like 2.5k only. 2 bedders even worse. Average 1.7M but renting out on the higher end of 3k. Can't even pay the bank.

Now that the caveats are out on URA, I wonder where was his so-called closing rental of $2500 for studio, and 3k plus rental for 2-bedder....

[Arcachon]

Now that the caveats are out on URA, I wonder where was his so-called closing rental of $2500 for studio, and 3k plus rental for 2-bedder....

Should be from the air.

[lec50000]

Should be from the air.
Ya.Dont be fool by these unscrupulous agents

[new2mondrian]

By the way, more food outlets are sprouting up at Duo Galleria. Popped by Pizza Express (same as the one at Scotts Square) for dinner. Saw that Yoshinoya, F-Innovators (behind a chain of restaurants) and a wine bar are all renovating their premises.

[teddybear]

So facts has proven that this thomastansb is pretty much a liar? (like minority!)


Now that the caveats are out on URA, I wonder where was his so-called closing rental of $2500 for studio, and 3k plus rental for 2-bedder....



Rental yield is pretty bad for this project. Studio were transacted average 1.05M but closing rental is like 2.5k only. 2 bedders even worse. Average 1.7M but renting out on the higher end of 3k. Can't even pay the bank.

[PropVestor]

By the way, more food outlets are sprouting up at Duo Galleria. Popped by Pizza Express (same as the one at Scotts Square) for dinner. Saw that Yoshinoya, F-Innovators (behind a chain of restaurants) and a wine bar are all renovating their premises.

Sure hope to see more movement in terms of commercial tenants.

I am also looking forward to the Beach Road site tender announcements next week. Curious how much land price has moved since 2011 when Duo site was bought. Also who paid more than $1.138 billion for it.

Could M+S be holding back for higher rents pending this announcement? Duo Tower has yet to fill up as well. Are they really that choosy?

2 cents,
PropVestor

[new2mondrian]

Sure hope to see more movement in terms of commercial tenants.

I am also looking forward to the Beach Road site tender announcements next week. Curious how much land price has moved since 2011 when Duo site was bought. Also who paid more than $1.138 billion for it.

Could M+S be holding back for higher rents pending this announcement? Duo Tower has yet to fill up as well. Are they really that choosy?

2 cents,
PropVestor

Word on the market is that Duo is very sticky on the asking rent, whereas MOR is much more willing to negotiate.

My take is, Duo is not in a rush to fill up. The office space takes up level 4 to 23, and Andaz Hyatt takes up level 25 to 39. The lettable floor area for office space is nowhere as much as MOR. Currently Mastercard and Abott are there. Guess they are taking time to fish for tenants who are able and willing to pay.

[PropVestor]

Yes, thats what I have heard. DUO Tower is waiting for the right tenant and not in a hurry to lease them out. Andaz is already paying quite alot for their space.

I spoke to the PM for Duo Residences yesterday, according to him ...

For the past 8 weeks, about 400 over notification letters were issued by M+S till date but only 220+ (out of 660) owners collected their units. 17 units were moved in by tenants and owners. The rest of those collected are either negotiating lease, waiting for tenants or still awaiting defect rectification (majority).

PropVestor

[tonymontana]

Congrats to all DUO owners, key collection coincides with uptick in market.

[Khng8]

Sure hope to see more movement in terms of commercial tenants.

I am also looking forward to the Beach Road site tender announcements next week. Curious how much land price has moved since 2011 when Duo site was bought. Also who paid more than $1.138 billion for it.

Could M+S be holding back for higher rents pending this announcement? Duo Tower has yet to fill up as well. Are they really that choosy?

2 cents,
PropVestor
Beach Road site tender out.

[PropVestor]

Beach Road site tender out.

GLL wins. Am happy. $1.6bil and they will usually commission a good designer to do it up nicely.

http://www.businesstimes.com.sg/real-estate/guocoland-tops-bids-for-beach-road-site-with-bid-of-s1622b-or-s1706-psf-ppr

Looking forward to it already. Bay wing owners facing this building.....watch out.

[thomastansb]

5 resale so far. 3 unprofitable, 2 profitable. Stunning one is the 46-18 who lost around 1.2M due to 8% SSD.

30-Mar-17 1 FRASER STREET #46-18 -937,000
7-Mar-16 1 FRASER STREET #40-15 -204,750
30-Oct-15 1 FRASER STREET #30-17 -186,810

5-Jun-17 1 FRASER STREET #30-17 331,560
14-Jul-16 1 FRASER STREET #16-08 97,000

[PropVestor]

5 resale so far. 3 unprofitable, 2 profitable. Stunning one is the 46-18 who lost around 1.2M due to 8% SSD.

30-Mar-17 1 FRASER STREET #46-18 -937,000
7-Mar-16 1 FRASER STREET #40-15 -204,750
30-Oct-15 1 FRASER STREET #30-17 -186,810

5-Jun-17 1 FRASER STREET #30-17 331,560
14-Jul-16 1 FRASER STREET #16-08 97,000

Why sell now? I don't get it.

[Kelonguni]

Why sell now? I don't get it.

Possibly an internal transfer to avoid ABSD while aiming for something else?

If not it must be an emergency.

[PropVestor]

If it's a fire sale, I get it. Other than that, Duo has yet to reach its price potential. With Beach Road site being bought at this psf price, current 3 to 4 bedders are at a 'discount'. No wonder the 42nd floor showroom is crowded today. Beach road site if sold at ~$2.7kpsf(2022) marketed at a premium like Wallich Residence or Martin Modern, there will be new records achieved for D7. Guoco land has plenty of holding power. That's why it's a bonus to have them as neighbors.

[minority]

So facts has proven that this thomastansb is pretty much a liar? (like minority!)

and the BULLSHITTER HAVE SPOKEN

[PropVestor]

Martin Modern $1,239 psf PPR is now transacted at ~$2,200 psf (max $2,484)
Beach Road site $1,706 psf PPR will be sold from ~$2,700 psf onwards (circa 2022 TOP)

In Sept 2017, according to URA caveat lodged, a high floor (47th floor, 1927 sqft) 4 bedder unit at Duo is transacted at $2,189 psf.

My point is, there is headroom growth for at least $500-$600 psf for Duo Residences in the next few years even we are at a long U shape recovery of 1-3% CCR growth past 2020. Those multiple units investors who bought at $1,600 psf back in 2013 will enjoy even more capital appreciation.

So again, why sell now?

2 cents,
PropVestor

[thomastansb]

Not everyone is in a good financial position. Some might be in severe debts or just lost the job without any savings. There are always such people around. That is why the price is always determined by the weakest owner.

[bossa]

Hi,

Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

URA website specifies the following in regards to enclosing a balcony .
S/N : 33 
Installation of grilles/screens to approved balconies in all residential developments, provided that 
1. the balconies had been approved as covered balconies, and , 
2. the balconies comply with the requisite building setback.
URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
all times . Please ensure that necessary approval from the Management Corporation is obtained.
S / N : 34 
Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
provided that:
1. the balconies had been approved as covered balconies, and
2. the balconies comply with the requisite building setback.
In which case no approval is required to be taken from URA

Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.

[Arcachon]

Hi,

Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

URA website specifies the following in regards to enclosing a balcony .
S/N : 33 
Installation of grilles/screens to approved balconies in all residential developments, provided that 
1. the balconies had been approved as covered balconies, and , 
2. the balconies comply with the requisite building setback.
URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
all times . Please ensure that necessary approval from the Management Corporation is obtained.
S / N : 34 
Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
provided that:
1. the balconies had been approved as covered balconies, and
2. the balconies comply with the requisite building setback.
In which case no approval is required to be taken from URA

Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.

Do it while the MA is new.

See no evil, do no evil.

[Arcachon]

Martin Modern $1,239 psf PPR is now transacted at ~$2,200 psf (max $2,484)
Beach Road site $1,706 psf PPR will be sold from ~$2,700 psf onwards (circa 2022 TOP)

In Sept 2017, according to URA caveat lodged, a high floor (47th floor, 1927 sqft) 4 bedder unit at Duo is transacted at $2,189 psf.

My point is, there is headroom growth for at least $500-$600 psf for Duo Residences in the next few years even we are at a long U shape recovery of 1-3% CCR growth past 2020. Those multiple units investors who bought at $1,600 psf back in 2013 will enjoy even more capital appreciation.

So again, why sell now?

2 cents,
PropVestor

You got go for lesson, the other don't.

To investor they see value, to buyer they feel for herds.

Agent can tell them it is good buy, guess what will they say to them.

[PropVestor]

Hi,

Not sure if any Duo unit owner here is planning of cover up the balcony areas with retractable frameless glass panels or weather proof blinds to keep the afternoon sun out? I like to hear from you and below is what I found on the URA website

URA website specifies the following in regards to enclosing a balcony .
S/N : 33 
Installation of grilles/screens to approved balconies in all residential developments, provided that 
1. the balconies had been approved as covered balconies, and , 
2. the balconies comply with the requisite building setback.
URA's approval is not required if the screens are retractable and allow the balcony to be naturally ventilated at
all times . Please ensure that necessary approval from the Management Corporation is obtained.
S / N : 34 
Enclosing of approved balconies by glass/window in landed housing developments only, including strata-landed housing developments,
provided that:
1. the balconies had been approved as covered balconies, and
2. the balconies comply with the requisite building setback.
In which case no approval is required to be taken from URA

Can I use any of the above to enclose my balcony in at the Duo, high floor unit facing the west afternoon sun.

If you read your Duo owner's guide instead of referring to the URA guidelines, there is specific dos and don'ts. That should come in useful in your decision.

[Daydreamz]

New homeowner here... just got my keys to Duo couple of weeks ago and current going through the defect reporting etc...
Wondering whether there is anything particular I should take note of?
Any advice is appreciated.
Cheers

[PropVestor]

New homeowner here... just got my keys to Duo couple of weeks ago and current going through the defect reporting etc...
Wondering whether there is anything particular I should take note of?
Any advice is appreciated.
Cheers

Congrats to you. You must be a high floor owner to get your keys so late.

I am actually very happy with the quality of the finishing and do not have any major issues with the interior. As this development took 4 years to build, you might want to look out for rubber seals and adjoining wall to false ceiling lines which will occur over time due to temperature change. My unit has no afternoon sun and I have heard wooden flooring of other units having issues due to this. Not so much the quality but due to the lack of curtains and heat protection.

The only other is the folding balcony door which I had, that one has some issues with complete seal which I hope you do not encounter.

My tenant has yet to complain so far as they have 30 days to complain of defects.

Enjoy your new home/investment.

PropVestor

[scorpio_sg]

The owners handbook says "no modification work is allowed for the facade." Does the application of a (dark) solar film count as modification to the facade? Just thought I'd solicit advice here first before going to the management office.

[Tomutomi]

looks like the studio unit, 4xx sqft, not attractive for rent

[PropVestor]

1 bedder reigned supreme followed closely by 2 bedders based on the 95 rental caveats lodged since August 2017. For those owners with 1 bedders, their unit will be in short demand soon. Studio unless high floor and good facing will be slightly tougher as the profile I observe are mostly Caucasians who prefer slightly bigger units but within 5K budget.

I am getting 4.09% return for my one bedder, low floor. I am not complaining.

https://goo.gl/aJuQSg

[Arcachon]

Congrats.

[PropVestor]

Congrats.

Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

How is it over there at Southbank?

PropVestor

[Arcachon]

Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

How is it over there at Southbank?

PropVestor

just renew. 4000 for 958 sqft 2 bedroom

[PropVestor]

just renew. 4000 for 958 sqft 2 bedroom

Congrats too!

[Arcachon]

Congrats too!

I got my agent to do it 3 month before lease due, if he don't I take over.

[august]

looks like the studio unit, 4xx sqft, not attractive for rent

Do airbnb. :witless:

[thomastansb]

But Duo is not CCR right? It is RCR and the absolute rental is pretty decent for RCR.




Thanks bro. I do know of some owners who are still struggling to rent out their units, notwithstanding they are 1 bedder owners. The middle wave who gotten their keys face the brunt of previous landlord pricing. I know the same unit size like mine going for $3,500.

Despite what is mentioned in the media about price recovery. I see CCR private residential rental being rather slow in any form of aggressive upswing. There are just too many units for tenants to choose from. We landlords just got to hang on tight.

How is it over there at Southbank?

PropVestor

[PropVestor]

http://www.straitstimes.com/asia/se-asia/pm-lee-malaysian-pm-najib-to-witness-signing-of-jb-singapore-rts-link-agreement-at

Both PMs will be there on the 15th Jan Monday to officiate Duo and Marina One's opening. Can't picked a better weather to do so.

[PropVestor]

254 units tenanted out according to URA caveats lodged between March 2015 to Feb 2018. Of which 124 are 1 bedders and 95 two bedders. 18 studios.

Based on 95% sold out of 660 units or about 627 units transacted, only 40% are tenanted out (assuming not for own stay). If we add those for own stay, it should be about 50% tenanted since TOP a few months ago.

My conclusion is that luxury development rental is still rather soft at this point in D7.

[bargain hunter]

254 units tenanted out according to URA caveats lodged between March 2015 to Feb 2018. Of which 124 are 1 bedders and 95 two bedders. 18 studios.

Based on 95% sold out of 660 units or about 627 units transacted, only 40% are tenanted out (assuming not for own stay). If we add those for own stay, it should be about 50% tenanted since TOP a few months ago.

My conclusion is that luxury development rental is still rather soft at this point in D7.

to avoid confusion, the 1st rental caveat was lodged on aug 17. so its about 7 months.

[PropVestor]

to avoid confusion, the 1st rental caveat was lodged on aug 17. so its about 7 months.

Yes, thats for the qualification clarification. URA started tracking since March 2015 but Duo TOP-ed 8 months ago.

[ichigo55]

yes agree luxury mkt still soft .. it took me a while to rent out ...
but the next market run will be interesting .. with so much enbloc land sold .. but alot of money on the side line .. how would the market really react?
Mass market will likely also be affected if hdb inventory continue to increase at this rate ..

[PropVestor]

yes agree luxury mkt still soft .. it took me a while to rent out ...
but the next market run will be interesting .. with so much enbloc land sold .. but alot of money on the side line .. how would the market really react?
Mass market will likely also be affected if hdb inventory continue to increase at this rate ..

Its harder than I thought too. Took us 5 weeks to get a tenant.

I take issue with the number of commercial offices in around Bugis. Though GuocoLand Beach road site will add another 10-20K office workers but that will have to wait for another 5 years or so. I am betting they will build residence too and not service apartments/hotels. If its the latter, ho seh liao.

[Kelonguni]

Its harder than I thought too. Took us 5 weeks to get a tenant.

I take issue with the number of commercial offices in around Bugis. Though GuocoLand Beach road site will add another 10-20K office workers but that will have to wait for another 5 years or so. I am betting they will build residence too and not service apartments/hotels. If its the latter, ho seh liao.

5 weeks not too bad for a new building.

[star]

Its harder than I thought too. Took us 5 weeks to get a tenant.

I take issue with the number of commercial offices in around Bugis. Though GuocoLand Beach road site will add another 10-20K office workers but that will have to wait for another 5 years or so. I am betting they will build residence too and not service apartments/hotels. If its the latter, ho seh liao.

It's all about rental. U put $2000 sure from duo queue to jurong.

[PropVestor]

It's all about rental. U put $2000 sure from duo queue to jurong.

Why spoil market? Sure, to each his/her own skin but no point rent out a CCR luxury development at city fringe price when the market is picking up now.

Right after me, someone did that for low floor, one bedder doing for $1K less unfurnished unit. TMD. That was a close shave.

Timing is as important. The front and last wave get to call out pricing than the middle lull wave now.

[Khng8]

May I know the yield for 1 bedder?
Nearer 3% or 4%? (Just simple total annual rent/ purchase price)

[PropVestor]

May I know the yield for 1 bedder?
Nearer 3% or 4%? (Just simple total annual rent/ purchase price)

For me, its 4.09% Gross return. 1 bedder, 720 sq feet.

[PropVestor]

I start to see movement in the Beach Road $1.62B site which Guocoland bought. I think its time they prep the land and reveal the design soon.

[new2mondrian]

With the demolition of the few blocks of HDB flats at Rochor Centre, and the return of Bugis Village back to the State within a year, there’s going to be tonnes of land all around Duo being released for tender and rejuvenation.

The whole area has plenty of upside. Won’t be surprised if Guocoland launches the Beach Road site in excess of $3k psf, and Southbeach also launches around that price point.

https://www.straitstimes.com/singapore/less-than-a-year-before-lease-runs-out-for-bugis-village-tenants

[PropVestor]

https://www.businesstimes.com.sg/real-estate/emerging-prime-areas-challenge-traditional-districts-9-10-11

Always look at where the market is going, not where it is now.

[PropVestor]

https://www.straitstimes.com/business/property/hotel-sites-among-those-offered-in-land-sales-scheme

Middle road GLS will be one to look out for. This site is closer to South Beach Residences which is currently gearing up for sale. However, this site is between 2 MRT lines (Bugis and Esplanade). I could not find the plot ratio under URA Masterplan for this site too. Does anyone know?

This site though smaller than the Beach Road site will be easier to build due to its regular shape.

[new2mondrian]

https://www.straitstimes.com/business/property/hotel-sites-among-those-offered-in-land-sales-scheme

Middle road GLS will be one to look out for. This site is closer to South Beach Residences which is currently gearing up for sale. However, this site is between 2 MRT lines (Bugis and Esplanade). I could not find the plot ratio under URA Masterplan for this site too. Does anyone know?

This site though smaller than the Beach Road site will be easier to build due to its regular shape.

Recently I came across multiple Classified Ads in the Straits Times on the launch of South Beach Residences. Ditto for PropertyGuru website. Anyone knows when it will be launching? And at what psf?

[august]

Recently I came across multiple Classified Ads in the Straits Times on the launch of South Beach Residences. Ditto for PropertyGuru website. Anyone knows when it will be launching? And at what psf?

Heard is some time this month. Around $3.4k psf.

[PropVestor]

Heard is some time this month. Around $3.4k psf.

They are keeping the prices very close to heart and only for interested parties who showed up at their showflat according to my agent. I am guessing the same region and close to $4K for the higher level ones? Not that kind of league hence I do not bother to go and see.

Having JW Marriott plastered on their residence building is an excellent move. Much better than their self run hotel which no ones really know. It raises the brand equity of the entire development to a new level where they can command higher premiums today.

I am thinking that will raise the bar further for the Middle Road GLS site. All good news to me.

[PropVestor]

Wondering if Tan Quee Lan Street GLS (500+ Residential units with 2000 square metre commercial) under reserve list will get triggered before end of 2018. Slated for nov 2018.

GLL is ready to put up their design really soon. Can’t wait to see how it looks like and how much it will $$$$.

[ichigo55]

Duo coming up soon?

https://www.edgeprop.sg/property-news/marina-bay-and-tanjong-pagar-condos-still-draw-interest?utm_term=Autofeed&utm_campaign=Echobox&utm_medium=article&utm_source=Facebook#Echobox=1536412325

" ...
At the 54-storey V on Shenton — which is part of the mixed-use development that includes the 23-storey Grade-A office tower, UIC Building — a one-bedroom, 506 sq ft unit on the 51st floor was sold for $1.57 million, according to a caveat lodged on Aug 23. The price translates into $3,098 psf, which is the second highest psf price in the project to date. A week before that, on Aug 16, a 452 sq ft studio unit on the same floor set the record psf price, at $1.46 million ($3,225 psf).
..."

[PropVestor]

Duo coming up soon?

https://www.edgeprop.sg/property-news/marina-bay-and-tanjong-pagar-condos-still-draw-interest?utm_term=Autofeed&utm_campaign=Echobox&utm_medium=article&utm_source=Facebook#Echobox=1536412325

" ...
At the 54-storey V on Shenton — which is part of the mixed-use development that includes the 23-storey Grade-A office tower, UIC Building — a one-bedroom, 506 sq ft unit on the 51st floor was sold for $1.57 million, according to a caveat lodged on Aug 23. The price translates into $3,098 psf, which is the second highest psf price in the project to date. A week before that, on Aug 16, a 452 sq ft studio unit on the same floor set the record psf price, at $1.46 million ($3,225 psf).
..."

My 2 cents is that unless there are more activity in the 500m radius, pricing will remain stagnant for the near term due to CMs. The catalyst will be Beach Road, Middle Road and Tan Quee Lan. Fingers crossed, once Beach Road is launched, there will be more transactions.

[PropVestor]

https://www.straitstimes.com/asia/se-asia/khazanah-in-talks-to-sell-property-stakes-to-temasek

If 60% sold, it will be chips amounting to RM25 billion to fill in the very large RM 1 trillion hole.

[PropVestor]

https://www.straitstimes.com/business/companies-markets/guocoland-starts-work-on-midtown-project-on-beach-road

Guoco Midtown breaks ground on 25th Nov 2018. Slated to be completed in 2022. ~200 units of residence. How much do you think the psf will be and how will it affect Duo pricing?

[PropVestor]

https://www.straitstimes.com/business/new-shaw-tower-to-blend-in-with-ophir-rochor-makeover

Rejuvenation continues to pass the baton on to Shaw Tower.

Let's see who bids for Tan Quee Lan to bring up prices one round after Guoco Mid town Suites completion.
https://www.businesstimes.com.sg/real-estate/keen-developer-interest-expected-for-bugis-gls-sites

[Arcachon]

https://www.straitstimes.com/business/new-shaw-tower-to-blend-in-with-ophir-rochor-makeover

Rejuvenation continues to pass the baton on to Shaw Tower.

Let's see who bids for Tan Quee Lan to bring up prices one round after Guoco Mid town Suites completion.
https://www.businesstimes.com.sg/real-estate/keen-developer-interest-expected-for-bugis-gls-sites

Singapore Government very good, Head I Win, Tail you Lose.

[PropVestor]

Singapore Government very good, Head I Win, Tail you Lose.

There is no need to flip the coin if your development is in the URA masterplan.
https://www.ura.gov.sg/Corporate/Planning/Growth-areas/City-Centre/Beach-Ophir-Rochor

[Arcachon]

There is no need to flip the coin if your development is in the URA masterplan.
https://www.ura.gov.sg/Corporate/Planning/Growth-areas/City-Centre/Beach-Ophir-Rochor

https://en.wikipedia.org/wiki/Malaysia%E2%80%93Singapore_Points_of_Agreement_of_1990

I refer to the North.

All in their plan.

On 20 September 2010 during a visit by Najib Razak to Singapore, he and Lee Hsien Loong issued a joint statement which stated that both Leaders have agreed to the following:


The Singapore Government shall vest four land parcels in Marina South (TS30-361T, TS30-362A, TS30-363K and TS30-364N) and two land parcels in Ophir-Rochor (TS13-1115N and TS13-1116X) in M-S Pte Ltd, in lieu of the three parcels of POA land in Tanjong Pagar, Kranji and Woodlands and the three pieces of land in Bukit Timah. The four Marina South parcels are located at the heart of the financial and business cluster (https://en.wikipedia.org/wiki/Business_cluster) in Singapore's Marina Bay, while the two Ophir-Rochor parcels are located next to the Kampong Glam Historic District, in a new growth corridor that is being developed as an extension of Singapore's Central Business District.
The Marina South and Ophir-Rochor land parcels shall be vested in M-S Pte Ltd for joint development when Keretapi Tanah Melayu Berhad (KTMB) vacates the Tanjong Pagar Railway Station. The station will be relocated from Tanjong Pagar to the Woodlands Train Checkpoint (WTCP) by 1 July 2011 whereby Malaysia would co-locate its railway Custom, Immigration and Quarantine facilities at WTCP.
The Joint Implementation Team shall conclude by 31 December 2010 their discussion on the details of the implementation of the POA.[8] (https://en.wikipedia.org/wiki/Malaysia%E2%80%93Singapore_Points_of_Agreement_of_1990#cite_note-8)

[PropVestor]

https://en.wikipedia.org/wiki/Malaysia%E2%80%93Singapore_Points_of_Agreement_of_1990

I refer to the North.

All in their plan.

On 20 September 2010 during a visit by Najib Razak to Singapore, he and Lee Hsien Loong issued a joint statement which stated that both Leaders have agreed to the following:


The Singapore Government shall vest four land parcels in Marina South (TS30-361T, TS30-362A, TS30-363K and TS30-364N) and two land parcels in Ophir-Rochor (TS13-1115N and TS13-1116X) in M-S Pte Ltd, in lieu of the three parcels of POA land in Tanjong Pagar, Kranji and Woodlands and the three pieces of land in Bukit Timah. The four Marina South parcels are located at the heart of the financial and business cluster (https://en.wikipedia.org/wiki/Business_cluster) in Singapore's Marina Bay, while the two Ophir-Rochor parcels are located next to the Kampong Glam Historic District, in a new growth corridor that is being developed as an extension of Singapore's Central Business District.
The Marina South and Ophir-Rochor land parcels shall be vested in M-S Pte Ltd for joint development when Keretapi Tanah Melayu Berhad (KTMB) vacates the Tanjong Pagar Railway Station. The station will be relocated from Tanjong Pagar to the Woodlands Train Checkpoint (WTCP) by 1 July 2011 whereby Malaysia would co-locate its railway Custom, Immigration and Quarantine facilities at WTCP.
The Joint Implementation Team shall conclude by 31 December 2010 their discussion on the details of the implementation of the POA.[8] (https://en.wikipedia.org/wiki/Malaysia%E2%80%93Singapore_Points_of_Agreement_of_1990#cite_note-8)


Speaking of North: I do not think Najib who signed the agreement think he will be in this state today. The selling ('portfolio revamp') has in fact already begun.
https://www.straitstimes.com/business/companies-markets/khazanah-selling-rm842b-stake-in-ihh-healthcare-to-mitsui-in-portfolio

I really hope the hole is big enough for them to think of selling the remaining or part of their stakes back to Temasek again since their majority stake (60%) would have risen due to land appreciation since the agreement signed back in 2011.

Duo is valued at ~S$4 billion back in 2011....not sure how much it is worth now.

[Arcachon]

Speaking of North: I do not think Najib who signed the agreement think he will be in this state today. The selling ('portfolio revamp') has in fact already begun.
https://www.straitstimes.com/business/companies-markets/khazanah-selling-rm842b-stake-in-ihh-healthcare-to-mitsui-in-portfolio

I really hope the hole is big enough for them to think of selling the remaining or part of their stakes back to Temasek again since their majority stake (60%) would have risen due to land appreciation since the agreement signed back in 2011.

Duo is valued at ~S$4 billion back in 2011....not sure how much it is worth now.

Singapore already learn the Art of Money printing, not sure North know how to print.

The Chinese are Ten-time better than us.

https://scontent-sin2-2.xx.fbcdn.net/v/t1.0-9/47438958_1582842878526200_1011845590008463360_n.jpg?_nc_cat=104&_nc_ht=scontent-sin2-2.xx&oh=56326963c64fa41070c05340ae426c1d&oe=5CA5809A

[PropVestor]

Their new finance minister Lim Guan Eng already mentioned money printing but to what effect....its anyone's guess. The ship is pretty sunk in at the moment or at least for the next 5 years due to large fiscal deficit.
https://www.channelnewsasia.com/news/asia/no-ringgit-peg-malaysia-changing-currency-option-mahathir-10467746

[Arcachon]

Their new finance minister Lim Guan Eng already mentioned money printing but to what effect....its anyone's guess. The ship is pretty sunk in at the moment or at least for the next 5 years due to large fiscal deficit.
https://www.channelnewsasia.com/news/asia/no-ringgit-peg-malaysia-changing-currency-option-mahathir-10467746

I was in Malaysia a few years back looking for investment property, the agent told me that SG to MYR going to 3.5 I was wondering how she knows it. Guess most of them already prepare for the Best time in their Life coming.

LKY went to Taiwan to get two chinese word from the Taiwan President and everything change.

Lim Guan Eng is only one whereas we got a lot of Lim Guan Eng in Singapore, went to one of the MFA talk their scholar after a few years all went over to GIC and Temasek.

[PropVestor]

https://www.straitstimes.com/business/property/capitaland-commercial-trust-in-talks-over-acquisition-of-15b-duo-office-tower
CapitaLand Commercial Trust said to be in talks to acquire $1.5b Duo office tower (Headline)
Source: Straits Times

Technically Temasek has 39.62% stake in CapitaLand, I will even call this indirect shares acquisition of Duo. I am even wondering if SGX:C31 is interested in TQL site opposite too which will be announced really soon. Can the timing be so coincidental?

On the demand side, perhaps Khazanah Nasional is making a move to redeem some chips here to fill up their massive deficit hole. I'm hoping the faster we are off Malaysia books, the better. If this sale goes through, SG will be the majority over MY.

Upside is a refresher of the land/development price.

[Luke65]

next time enbloc the residential into commercial :D

[PropVestor]

https://www.businesstimes.com.sg/hub-projects/property-2019-march-issue/ongoing-makeover-adding-value-to-beach-roads-commercial

[PropVestor]

https://www.straitstimes.com/business/property/guoco-midtown-to-jazz-up-beach-road-and-feature-new-flexible-leasing-concept

Guoco Midtown reveals concept. Based on its residential office tower location (if I view the model correctly), it is more aligned to South Beach albeit a more disadvantage view to the city versus SB. The stack facing East or Nicoll Highway direction is more desirable but it is very close to upcoming Shaw Tower. Not sure how aligned they can be with each other's design. This strategy is pretty sound IMHO since TQL will have 500 more units upcoming, there is no need to pack everything so densely together. This means Midtown pricing is very likely to align with SB and hence in the $3K+ psf region easily.

For Duo, it means offices are closer to each other with underground linkage. This bodes well for rental play.

[Arcachon]

https://www.duoresidences.cos.sg/

[PropVestor]

https://www.edgeprop.sg/property-news/beach-road%E2%80%99s-changing-skyline

[Wimsey]

Guoco Midtown will be another one to watch. Similar to Duo in many ways, though it's arguable that Guoco Midtown has the better location. The residential component was originally named Midtown Suite, but looks like has been renamed to Midtown Bay. Anyway it will be interesting to see what the pricing level is like. Duo launched at below $2,000 PSF with low floor units going for as low as $1,5xx PSF. But am not expecting Midtown Bay (https://esingaporeproperty.sg/property/midtown-bay-condo/) to be anywhere near there. Will likely be looking at closer to South Beach Residences pricing, near or over the $3K PSF mark. Especially since the developer for Midtown Bay is Guocoland, who are not exactly known for low prices. Witness their Wallich Residence for a start. It looks like there has been a delay in the launch though. Was in the news some time back, but till now nothing seen on the marketing front.

[PropVestor]

Guoco Midtown will be another one to watch. Similar to Duo in many ways, though it's arguable that Guoco Midtown has the better location. The residential component was originally named Midtown Suite, but looks like has been renamed to Midtown Bay. Anyway it will be interesting to see what the pricing level is like. Duo launched at below $2,000 PSF with low floor units going for as low as $1,5xx PSF. But am not expecting Midtown Bay (https://esingaporeproperty.sg/property/midtown-bay-condo/) to be anywhere near there. Will likely be looking at closer to South Beach Residences pricing, near or over the $3K PSF mark. Especially since the developer for Midtown Bay is Guocoland, who are not exactly known for low prices. Witness their Wallich Residence for a start. It looks like there has been a delay in the launch though. Was in the news some time back, but till now nothing seen on the marketing front.

First of all, GLL current and new designs all look *big yawn*. Especially for Wallich Residence, what a missed opportunity. Now Midtown or whatever they decide to call it, its another copy of it. At least South Beach did try something new.

Being in a better location is subjective especially if you look at the estimated entry price which is very likely to be $3K psf or even above. Mere 100m away and it goes ~1K+ Psf more for Duo first owners like me, it begs the question, what are you really paying for? For a property agent, everything goes since its not coming out from their pocket. Investors are not dumb. Sure, trade war might drive some Chinese to hedge their yuan here and for those turning their kids away from US. Property here might get some tail wind for the rest of the year. See them buying it up and I am certainly not complaining since they will drive up prices in D7.

Duo is just outside the gantry but command CBD prices today but certainly no beep-beep-light-gantry every time you go in and out of the development. Profit/loss is uncertain, ERP(cost) is not. Lets hope they do not extend this goalpost as URA masterplan say its a extended CBD in the future.

2 cents,
PropVestor

[ichigo55]

I don't think retail is doing so well .. but hopefully the new owner can spice things up

https://www.straitstimes.com/business/ms-selling-office-retail-areas-of-duo-complex-for-16b?fbclid=IwAR0GXw_-uY7Ykdnay-uTqoErP5-fCY6LsA379RfnN44z7j02dwSnx3EnLCo

[PropVestor]

I reckon the Gaw folks are looking at the office returns since retail takes up a tiny portion. The deal has to include both.

I was really hoping Capitaland will take up the stake but thats not the case. Was disappointed about the sponsor but not the price.
It is within expectations at $1.6B at market for about 7-8 months. Given the current conditions, I think it's a fair deal at ~$2.6K psf or expected $12psf rental returns for Grade A.
This is outside CBD nonetheless. Possibly the best performing one in Singapore for Grade A outside ERP gantry.

Until and unless both TQL and GLL Midtown are completed, this 'mini-City Link' is like zombie land since there is no foot-fall and critical mass is currently missing.

[PropVestor]

After retail and office purchase, there goes the Andaz hotel too in quick succession. The interest in this micro location heats up further. Midtown Bay is transacting at beyond $3K psf for 1 bedders (with early bird discount). Those 2 bedders are not far below this rate.

https://www.straitstimes.com/business/property/hoi-hup-realty-to-buy-luxury-andaz-hotel-at-duo-for-475m-from-ms

"This will mark the highest total price ever achieved for a standalone hotel transaction in Singapore, and the third highest in Asia this year, according to M+S."

[PropVestor]

More developments on Bugis Village. Now Capitaland pretty much managed D7 core retail.
https://www.channelnewsasia.com/news/singapore/bugis-village-street-capitaland-revamp-retail-market-tender-12267426

The M at Bugis to be launched 15th Feb 2020.
https://the-m-official.com/