http://www.straitstimes.com/Money/St...ry_777763.html
Youth not a drawback for Canary Land head
First-time developer aims to make flagship project stand out
Published on Mar 15, 2012
-- PHOTO: CANARY LAND
By Esther Teo, Property Reporter
CANARY Land director Loi Yan Yi is not your typical high-flyer in the competitive and male-dominated real estate industry.
Being female is enough to make her stand out and, at only 35, Ms Loi is living proof that youth is not an impediment to tackling brick-and-mortar challenges.
But a keen interest in design and architecture since young and the need to be 'gutsy about it' have already led to her first boutique residential project.
The 37-unit The Lush in Duku Road is expected to be previewed by the end of the month at an indicative price of $1,380 per sq ft (psf) for two-bedroom units of between 775 to 1,066 sq ft. These make up about half of The Lush's units.
It will be built on the freehold site of 18-unit Harmony Lodge, which Canary Land bought for about $30 million through a private treaty in late 2010.
'We liked the Katong area because it is very charming. It's got a mix of old and new, whether its architecture or in the blend of shops,' she added.
'It's very quaint... And we also felt that it's very close to the segment we want to target for this product - the upper-middle income. It could be for bachelors, young couples or small families looking for something a bit finer.'
While she acknowledges that she and her partners - they started the company with a paid-up capital of $1 million - lack experience, Ms Loi said her parents' active property investments have given her a trained eye on the design and functionality aspects of space planning.
What she had to pick up along the way was construction-related jargon and the various processes needed to obtain building and planning approvals, something she said could be learnt quickly.
'I think at the end of the day, it's very important that I understand the type of product I want to create and I'm able to achieve that by executing that vision,' Ms Loi added.
She is involved in every stage of the process, from handpicking the rooms' wallpaper in the showflat to creating the music playlist in the sales gallery and designing the sales brochure.
'I'm more of a creative type of person and what I bring to the table is thinking through the design and functionality a lot; little things like whether the space would work for a homemaker or working woman,' Ms Loi added.
Being a first-time developer spurs her on to deliver a high-quality product, as this flagship project could cement Canary Land's reputation. 'All the more because we're first-time developers, we'll emphasise a lot on the quality, fitting and furnishings... We'll go the extra mile to develop something that people can be confident of,' she said.
Ms Loi is no stranger to risk. She entered the restaurant business while holding a full-time banking job in 2006 before quitting to run Canary Land a year later.
The Epicure Group, which she started with a few partners, operates three restaurants: Graze at Rochester Park, and a second Graze outlet and Thai restaurant Kha at mixed-use project Martin No. 38.
Ms Loi is the daughter of Mr Loi Kai Meng, chairman of listed logistics company CWT and managing director of its parent company C&P Holdings.
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