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Thread: South Beach

  1. #1
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    Default South Beach

    Is this going to be a condo or a service residence?


    Business Times - 14 Aug 2009

    CDL expects to start South Beach in Q3 '10
    Q2 net profit falls on lower development margins, weaker hotel showing
    By KALPANA RASHIWALA CITY Developments Ltd (CDL) executive chairman Kwek Leng Beng says construction of the delayed South Beach project is likely to begin around the third quarter of next year, with CDL and new investor Nan Fung group of Hong Kong probably the ones that will pump in further money.

    Related links:
    Click here for CityDev's news release
    Financial statement
    PresentationCDL's two earlier joint-venture partners in South Beach, El-Ad Group and Dubai World, are likely to be passive investors who may then see their share in the project diluted. 'I think they have other priorities,' Mr Kwek said on the sidelines of CDL's Q2 results briefing yesterday.
    The group posted a 15.3 per cent drop in net earnings to $139.98 million and a 32.4 per cent decline in first-half net profit to $223.1 million due to lower profit margins from property development and a weaker showing from its hotels business, which was hit by the global economic slump. However, this was partly offset by higher earnings from rental properties.
    The group is planning to launch up to three new condos in the current half - including possibly some units in the residential portion of its Quayside Isle Collection on Sentosa Cove.
    CDL said that its bottom line for Q2 ended June 30, 2009 was an improvement from Q1 and it credited this chiefly to higher contribution from property development. Its decision to start building The Arte at Thomson in 2008 before its launch enabled the group to book more profit immediately based on the project's advanced stage of construction when it was launched in March this year.
    On South Beach, Mr Kwek said that although the consortium has up to 2016 to complete the project - which will have offices, luxury hotels, retail space and residences - he hopes to finish it before that date. 'In any case, if I miss the period of office oversupply in 2012, it'll be better for me,' he quipped.
    'Instead of coming up with a cookie cutter (idea), we're in talks with some creative people to come up with some wow factor.'
    The consortium bought the 99-year leasehold site for $1.69 billion in 2007 and had said then that total development cost would be about $2.5 billion. Last November, CDL announced a deferment of the project's construction until construction costs eased.
    South Beach will integrate an overhead bridge to Suntec City Convention Centre, Mr Kwek said, pointing to possible synergies between the two sides.
    Residential developments that contributed to CDL's Q2 bottom line included Cliveden at Grange, One Shenton, The Solitaire, Tribeca, The Oceanfront @ Sentosa Cove, Botannia and Livia.
    After selling 1,031 private homes so far this year for about $1.34 billion (including the share of joint venture partners), CDL is planning to partially launch a few projects in the current half - including a 396-unit condo on the former Hong Leong Gardens site at West Coast; a project with about 160 units on the former Albany and Thomson Mansion sites; and possibly the 228-unit condo being built at The Quayside Isle Collection at Sentosa Cove. The group's landbank stood at 7.5 million sq ft proposed gross floor area at end-June. Of this, 66 per cent was in the local residential market.
    Net gearing eased from 48 per cent as at Dec 31, 2008, to 46 per cent at June 30, 2009. CDL's net profit does not include valuation differences arising from investment properties as it has adopted the conservative policy of stating them at cost less accumulated depreciation and impairment losses.
    Group net asset value per share rose from $5.97 at end-2008 to $6.18 at end-June 2009.
    Second quarter revenue rose 0.8 per cent to $787.1 million while HI revenue dipped 8.4 per cent to $1.41 billion.
    In the stock market yesterday, CDL closed 19 cents higher at $10.02.


    Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved

  2. #2
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    Going to be a place for carrot head again!

  3. #3
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    City Developments: No Impact On Singapore Project From Dubai World
    Sam Holmes and P.R. Venkat
    Dow Jones Newswires
    Singapore
    Monday, 30 November 2009, 18.55


    South Beach

    Property developer City Developments Ltd. (CDL) Monday said that it doesn't expect any impact on the planned South Beach project in Singapore from the debt problems of Dubai World Ltd.

    "In June this year, as announced, we had already secured fresh funds via a combination of a S$800 million bank loan for a 2-year term and S$400 million in secured convertible notes ... We are presently refining the design plans and value engineering to ensure that this development is made more efficient, and to ensure that it is an extraordinary and innovative project," City Developments said in a statement.

    City Developments along with Dubai World and U.S.-based El-Ad Group had established a joint venture, called South Beach Consortium Pte Ltd., in 2007 for South Beach, a property development in central Singapore.

    The project will be completed by 2016.

    On Wednesday, the Dubai government announced that it will seek a 6-month payment freeze on debts of one its biggest conglomerates Dubai World, which owns real estate developer Nakheel and is estimated to have liabilities of around US$60 billion.

    The news spooked markets globally amid concerns over exposure by lenders.

    Dubai World currently holds a one-third share in the Singapore joint venture.

    City Developments said that in future, should there be a need to invest additional funds, the shareholders are expected to be called upon to put in their shares.

    "A shareholder may be diluted if it does not fulfill its obligations to fund the joint venture company. The joint venture company may also choose to issue further notes if more funds are required in due course and it is open to any note holder and/or shareholder to subscribe for the notes," the statement said.

    It said that it was too premature to say what its partners intend to do, but said that it is open to increasing its stake in the Singapore property project.

    "As South Beach is an iconic development and one which has excellent potential, should there be an opportunity to raise our stake in the South Beach project, we are certainly open to explore," the statement said.

    City Developments shares took a hit Monday on the Singapore Exchange (SGX) on news of the debt problems at Dubai World. City Developments closed 1.4% lower at S$10.00. By comparison, the Straits Times Index (STI) lost 1.1% to finish at 2732.12 points.

  4. #4
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    Post South Beach

    South Beach is in close proximity to everywhere that matters. Everything that matters to you most is just a touch away from South Beach. Whether it is engaging in sports at East Coast Park, immersing in Performances at the Esplanade, traveling to work in the Central Business District or simply entertaining you at any of 2 integrated Resorts, all of the desired destinations are just a moment away.

    It is located in a centralized city fringe with affordable low quantum with good rental yield. This quality is a very good advantage for business-minded individuals who aim to invest in quality and exquisitely designed properties. It is just a few minutes away from Aljuneid MRT and the Paya Lebar MRT Interchange where you have easy access to travel even on a daily basis. There are a lot of famous eateries nearby that will satisfy you hunger pangs on a busy day. You can choose from different restaurants where you will dine at your own taste. If you want to enjoy the sun and sand in Integrated Resort or Suntec City, it is just a few minutes’ drive from South Beach. Go there and have fun with your loved ones and friends even just once in your busy week. You can never be wasting your time because in just a few minutes of driving, you will arrive at your destination.

    They say a home represents the human psyche. Where you choose to live must express and complement your individuality, desires and innermost self. Presenting South Beach, the perfect embodiment of class and luxury set in a vibrant atmosphere, awaiting your very presence.

    South Beach truly stands out in the neighborhood, befitting the discerned owner. Have your slice of reward for all hard work you have made. This is where your journey begins.

    South Beach – A Treasure close to your heart.

    Do you want to be the first to get your choice unit at the best price? Never miss a New Launch event again. Get your latest updates from New Launch Singapore.

    Best Regards

    New Launch Singapore

  5. #5
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    Quote Originally Posted by shawnabc77

    Do you want to be the first to get your choice unit at the best price? Never miss a New Launch event again. Get your latest updates from New Launch Singapore.
    .......
    no details in the website

  6. #6
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    I think the Southbeach project is going to be really exciting... Does anyone know if this will be previewed or released soon?

  7. #7
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    The project is delayed. land sold pre-crisis. 2-3 years ago. another 3 yrs to build... by the time you get your keys, 6-7yrs of the 99LH is gone already

    Not going to be cheap too.

  8. #8
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    Ya, it's in my radar and I will be interested if it's below 2000psf.
    I dun think we should be too worried over L99 for good location projects.
    The tender for main contractor is ongoing and it's most likely to be a korean or a Japanese.

  9. #9
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    I'm pretty certain that this project will be in excess of 2000psf and might even be closer to 3000psf, given the release prices of the recent developments like Skysuites, Altez etc. But it's a fantastic location, so I'm sure it'll be a sell out!

  10. #10
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    A lot of groundwork at Southbeach. Wonder when will they launch it?

  11. #11
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    Default Your new progress - South Beach

    South Beach set to go up from the heart on the City. South Beach floors options readily available and value PSF are going to be attractively valued to offer. This can be a thought out commercial and residential intricate for being positioned on Beach Highway in the The downtown area Main of Singapore. Your new development will probably comprise places of work, a pair of resorts, retailers and also households. This undertaking involves the actual restoration of 4 resource efficiency structures ( space ) the former Non-Commissioned Officers' (NCO) Club developing and also part of the past Beach Road Camp. The particular difficult is actually slated to finish within 2016.

    South Beach will function a couple of new systems, 45 storeys’ and 42 storey’s tall, which usually property a pair of high end resorts, places of work and apartments rentals. The first preserved military properties of the old Beach Path Camping will be restored for full price along with hotel-related employs such as purpose areas. The task will prove to add at the very least 46,450 block metres (500,000 square centimeter) regarding new workplace and approximately 700 in order to 800 rooms in hotels.

    The actual CDL Range has recommended to embrace an eco style and design as well as natural engineering to produce a distinctive, high-quality growth that will fit throughout very well with Singapore's hawaiian environment along with city circumstance. Made by British system organization Create along with Associates, an essential attribute on the winning design is really a huge "environmental filter" canopy panels which addresses outdoors areas, linking preservation houses with all the a pair of high-rise podiums in addition to delivering pound in the things and also drawing air currents to cool the vicinity underneath the idea. The actual cover soars on several parts along with brings down in other people, like big swells. Some parts from the cover hover close to 1 preservation stop, yet another handles that, even though just one more portion appears to be enter into some sort of prevent. Other parts with the cover also manage to bring up skywards, addressing portion of the façades of the two new systems.

    The 2 podiums should have dipping façades to trap really winds as well as immediate air movement to your ground-level spots. Your house façades will likely include pv cells. Rain water will probably be compiled from the towers as well as the canopy panels circulation in to a possessing tank metro, as opposed to getting lost.

    The primary storey will probably be laid out having a group of central pavement, with the purpose of enhancing road level dynamics in addition to making it possible for people on the streets to move about quickly. Some sort of pedestrian "green axis" arises way up from the attic MRT train station leave via multi-tiered landscapes. The particular prohibit structure characteristics alleyways reminiscent of the community Seah Road location. It will likewise element submerged courtyards, tiered landscapes layered having merchants, and also foods and refreshment outlets.

    By no means neglect the particular new launch celebration connected with New Launch Singapore, check out http://www.SouthBeachSingapore.com to learn more.

  12. #12
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    Default Your new progress - South Beach

    South Beach collection to from your heart with the Location. South Beach ground ideas offered and value PSF is going to be beautifully priced to offer. It's a planned commercial and residential difficult to get found on Beach Street in the The downtown area Core connected with Singapore. The new development can make up practices, two hotels, stores and also houses. The actual challenge involves the refurbishment of four conservation properties -- the first sort Non-Commissioned Officers' (NCO) Membership creating along with the main former Beach Road Camp. The particular complex can be appointed for completion in 2016.

    South Beach will certainly element two new towers, 45 storeys’ as well as 42 storey’s taller, which usually house 2 high-class accommodations, office buildings and apartments rentals. The main protected armed service properties in the older Beach Road Camp will likely be renewed for list and also hotel-related works by using for instance operate spaces. The actual task will prove to add at least 46,450 block metres (500,000 sq . ft .) associated with new a workplace and approximately 700 to be able to 800 hotel rooms.

    The actual CDL Range provides planned to adopt an eco style and design and also eco-friendly technological know-how to develop a unique, high-quality growth that matches with well with Singapore's warm environment and also metropolitan wording. Made by British system organization Foster as well as Associates, an integral element with the succeeding style and design is usually a huge "environmental filter" canopy panels that insures outside areas, back linking conservation buildings together with the two high-rise towers and offering shelter through the aspects in addition to drawing oxygen power to cool down the the vicinity underneath the idea. The actual canopy springs up with several places in addition to reduces from others, resembling huge surf. Song from the canopy panels hover all around just one efficiency stop, one more handles this, while an additional component generally seems to enter into a new obstruct. Other areas with the cover additionally seem to elevate skywards, covering section of the façades of the two new towers.

    Both podiums may have dipping façades capture really agitates and strong air-flow to your ground-level spots. Your building façades will even incorporate pv cells. Rainwater are going to be collected over systems as well as the canopy to flow right into a having tank underground, rather then staying squandered.

    The first storey are going to be laid out using a number of internal pavement, with the purpose of bettering block degree dynamics in addition to allowing people on the streets to move about effortlessly. A walking "green axis" occurs upwards from your basement MRT stop leave as a result of multi-tiered gardens. Your stop design features alleyways similar to the community Seah Neighborhood region. It'll likewise function submerged courtyards, tiered gardens padded having merchants, in addition to food items along with beverage retailers.

    Never ever miss the actual new launch celebration regarding New Launch Singapore, stop by http://www.SouthBeachSingapore.com for more info.

  13. #13
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    What is wrong with you? Keep repeatedly posting the same thing.

  14. #14
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    When is southbeach launching? There are two huge circular bored pile foundations being built.

  15. #15
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    Quote Originally Posted by DC33_2008
    When is southbeach launching? There are two huge circular bored pile foundations being built.
    Hear they will launch soon...get ready...$5k psf

  16. #16
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    Quote Originally Posted by insigina
    Hear they will launch soon...get ready...$5k psf
    there will be a super penthouse that is >30m.

  17. #17
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    so rosy? how to buy at 5k psf? Gold taps fitting in bathroom?

  18. #18
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    Quote Originally Posted by dtrax
    so rosy? how to buy at 5k psf? Gold taps fitting in bathroom?
    $500 psf of tax if the buyer is foreigner.

  19. #19
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    Default $4k PSF ?

    The much-anticipated South Beach project is gathering pace with the developer preparing to market the homes, offices and shop space.
    The City Developments (CDL) and IOI Corporation consortium is "at the stage of preparing to market or pre-lease" the development, but has not finalised the launch date and pricing, a CDL spokesman said.
    The mixed-use project - located between Raffles Hotel and Suntec City, and next to the Esplanade MRT station - will feature 190 homes, 651 hotel rooms, 49,000 sq m of office space and 7,900 sqm of retail space. A 2,700 sq m area will also be set aside for a private club.
    Some agents gathering interest for the high-end complex told The Straits Times that flats could be sold at about $4,000 per sq ft (psf) on average.

    They added that some regulatory approvals are still needed before flats can be sold, but the development - which had been hit by delays due to the global financial crisis - is finally in motion.
    The landmark site was acquired for nearly $1.69billion from the Urban Redevelopment Authority in 2007, at a price that worked out to $1,069 psf of potential gross floor area.
    Originally, Dubai World unit Istithmar, United States-based Elad Group and CDL each held a one-third stake in the South Beach Consortium.
    The original plan would have seen the development completed by this year at a total cost, including land, estimated at $2.5billion.
    But during the financial crisis in November 2008, CDL announced a deferment until building costs eased.
    A series of sales and restructuring also marked the exit of two of the original investors - Elad and Istithmar - and led to the entry of Malaysian heavyweight IOI last year.
    The project is now scheduled for completion in 2015.
    CDL declined to give the revised total development cost, but added that "there have been no changes or enhancements made to the original plans for the site with IOI's participation to the shareholder structure".
    DTZ is understood to have been appointed as the sole marketing agent.
    Ms Phylicia Ang, Savills Singapore's executive director for residential sales, said the prime location offers home owners fantastic views - one of its key selling points.
    "There will definitely be demand and interest from buyers for such a location; it's just a matter of price point," she added.

  20. #20
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    another 2km down the road in shenton the psf is sub $2k psf. southbeach worth double?

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