July – September 2009

MICA (P) 119/06/2009

ASPECTS
OF REAL ESTATE.
A quarterly publication from Knight Frank 
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
Residential

Projects Highlights

An exclusive freehold
development in prime
District 09 unveiling soon!
For enquiries, please call:
Deric Chong 9837 8786
Alan Neo 9843 7206
One Devonshire
One Address.
Seven Exquisite Gardens.
The address says it all.
Located in the heart of Orchard Road, Singapore’s
main shopping belt, One Devonshire is an
exclusive development comprising only 152
apartments.
 
The eye-catching development with its
contemporary architecture, unique 7-sky-gardens
concept will appeal to all. Each exquisitely
designed sky garden will come with its own
unique theme.
Towering 36 storeys high, every apartment has
been designed to maximise space and provide
total, exclusive privacy. With a selection of
2-, 3- and 4-bedroom apartments, as well as
luxuriously designed sky suites and penthouses,
One Devonshire offers living spaces to suit the
most discerning homeowners and investors.
 
One Devonshire undoubtedly represents the
true meaning of designer living. Kitchens come
with built-in fridges and dishwashers from Miele.
Bathroom fittings include Villeroy & Boch water
closets and Dornbracht fittings.

One Devonshire, Balinese Garden

One Devonshire,
Rock Garden

One Devonshire, Mediterranean Garden One Devonshire, Facade

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Projects Highlights
Double Bay Residences
Inspired by nature.
Created for luxury.
More than 60% sold!
3- & 4-Bedrooms and Duplexes available
Stretching across 346,000 sq ft of lushly
landscaped grounds and comprising of 646
spacious homes, Double Bay Residences sets
a new standard of living in Simei.
Double Bay Residences, Landscape 1
KnightFrank.com.sg
It enjoys the most convenient location being Double Bay Residences’
just a 3 minute stroll away from Simei MRT and
Eastpoint Mall. In addition, Changi Business
extraordinary features
Park, Singapore’s 4th University and World of a one-tree island,
College which will also be here soon adds to
the appeal.
5-storey waterfall,
elevated Jacuzzi, lagoon
What’s more! The larger units boast features such
as curved shower rooms, ponds, private swimming
pool with another 50 m
pools and roof top jacuzzis. All apartments are lap pool and sports deck
fitted with elegant finishings comparable to
prime district residential projects.
set it uniquely apart from
any other developments.
For enquiries, please call:
Liesel Lim 9068 0018
Larry Yam 9271 1108
Double Bay Residences,
Landscape 2
Double Bay Residences, Library
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OF REAL ESTATE. 0
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
Residential

Projects Highlights

Designed by renowned Livia A private gate leads to the Sungei Api Api Park
Connecter and Pasir Ris Park, where you can
architect, Architect 61, Find a world of conveniences all around experience many exciting activities and water
Livia redefines the meaning be it within or outside your development. sports. The popular Tampines mountain biking
trail is within the vicinity too.
of luxurious living in the All 2-bedrooms fully sold! Lookout for 3-,
East! Its excellent design 4-bedrooms and Penthouses The full condo facilities are classified into 4
zones - Aqua, Action, Leisure & Garden. There
and well-planned spaces Enjoy the thrill of finding all your desired shops is no other condominium in town that offers
comes with modern interiors within easy reach. Shop non-stop at these such extensive facilities for generations.

and quality designer fittings. 5-star conveniences with an array of exciting

retail and entertainment spots – White Sands,
Ikea and Downtown East with Cineplex, Livia
has it all!

For enquiries, please call:

Michelle Chia 9062 3456

Livia, Pool

Livia, Action Zone Livia, Pool

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Projects Highlights
Verdure @ Holland Park
A True Holland Address
Strata Villas are now available for sale!
Despite the sedate property market, Verdure
@ Holland Park achieved commendable sales
result with all of its apartment units fully sold
within a month since its official launch in April
2009. Verdure @ Holland Park is very sought
after for its excellent location and development
concept and quality.
Located in Singapore’s most coveted residential
district, it is in close proximity to the renowned
Singapore Botanic Garden and is a short drive
away from the myriad of amenities – Orchard
KnightFrank.com.sg
Shopping Belt, Tanglin Village and Holland Village Located in Singapore’s
etc. This magnificent residential property takes
full advantage of its unparalleled views towards
most coveted residential
a tapestry of greenery in a district replete with district, it is in close
established bungalows.
proximity to the
Be the selected few to claim ownership of the renowned Singapore
luxurious strata villas in Verdure @ Holland
Park. Each strata villa is designed with style,
Botanic Garden and is a
featuring state-of-the-art finishes and imported short drive away from the
designer fittings such as Gaggenau, Molteni &
C, Siematic and Duravit. Residents will get to
myriad of amenities.
enjoy the use of 2 allocated parking lots right
at their doorstep. To heighten the pleasure of
living in Verdure @ Holland Park, all villas are
designed with a private roof top jacuzzi.
For enquiries, please call:
Deric Chong 9837 8786
Verdure @ Holland Park
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OF REAL ESTATE. 0
Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
auctions

The auction market remained subdued in the Mortgagees’ sales are far and few between
last three months amidst the global financial now as banks are more open for mortgagors to
crisis. There was however sporadic buying restructure their loans or to sell on their own.
interest at some auctions when prices were As such, auction houses are receiving more
pegged at 15% to 20% below valuation. Gradual instructions from owners to conduct auctions
narrowing of the price gap was observed as the on their behalf.
buyers spill over from the positive response at
developers’ launches and improved sentiments
of the stock market. More geniune buyers are
slowly streaming into auction halls to look for
good buys.

The Sunny Spring Far East Shopping Centre

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Properties Sold At Recent Auctions

The following properties were sold by us at 04. #13-05 Peninsula PlaZA

recent auctions.
01. #08-20 The Sunny Spring
3+1, 50 Lorong 40 Geylang, 1,195 sq ft,
freehold. Owner’s sale
Sold at $615,000
02. #06-11 Far East Shopping Centre
545 Orchard Road, shop unit used as office,
323 sq ft, 999 yrs. Owner’s sale
Sold at $550,000
03. Land at Ponggol Road
Lot No 272N Mukim 21, land, 1,945 sq ft,
999 years. IRAS sale
Sold at $200,000
111 North Bridge Road, office. 1,776 sq ft,
999 years. Owner’s sale
Sold at $2 Million
05. #03-05 Henley Industrial Building
22A Lim Teck Boo Road, flatted factory,
1,421 sq ft, freehold. Estate sale
Sold at $305,000
06. #03-06 Henley Industrial Building
22A Lim Teck Boo Road, flatted factory,
1,916 sq ft, freehold. Estate sale
Sold at $432,000

Land at Ponggol Road Peninsula Plaza Henley Industrial

Building

ASPECTS
OF REAL ESTATE. 0
Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
auctions

Properties For Private Treaty Sale

The following properties are available for
private treaty sale.
01. West Coast Road D05
6+1 2-storey detached house + pool,
5,300/ 6,000 sq ft, freehold, near amenities
Asking $3.8 Mil
Mary Sai 6228 6886 / 9338 7879
mary.sai@sg.knightfrank.com
03. Fernwood Tower D15
4+1 bedroom apt (all ensuite),
2,497 sq ft, freehold
Asking $6XX psf
Christina Koh 6228 6892 / 9450 3477
christina.koh@sg.knightfrank.com

02. Jalan Rimau, (Off Bedok Reservoir Road/

Jalan Eunos) D14
5+1 3-storey + basement level corner terrace,
2,368 sq ft approx., freehold
Asking $1.5 Mil
Magdalene Chong 6228 6890 / 9850 6526
magdalene.chong@sg.knightfrank.com

Fernwood Tower

Jalan Rimau

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 KnightFrank.com.sg

industrial

Business Space – Sold

32 Changi South Street 1 We are proud to have sold the property beyond
the client’s expectation, shortly after the long
Sold: S$2,538,000 festive season, which is traditionally a lull
period of sales.

Zoned “Business 2”, the approx. 48,800 sq ft

29 Loyang Crescent factory sits on a land of approx. 81,400 sq ft
and has water front length of approx. 120 m.
Sold: S$6,200,000
Comprising of a part 1-storey, a part 2-storey
and a part 4-storey building, boat sheds, a jetty
Knight Frank Singapore’s Industrial Business
and a launching pontoon, this property with its
Space pitted against several major real estate
full-fledge facilities is a rare site that provides
agencies, and won the marketing pitch for the
great convenience for business owners in need
sale of the specific use industrial property
for waterfront developments.
belonging to a company listed on the Singapore
Stock Exchange.

For enquiries, please call:

Chow Kok Seng 6228 7382 / 9685 7557
Veronica Chao 6228 6893 / 9111 7775

29 Loyang
Crescent

29 Loyang Crescent 32 Changi South Street 1

ASPECTS
OF REAL ESTATE. 0
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
industrial

Business Space – Available for Sale

22 Pandan Road 26 Loyang Drive

FOR SALE FOR SALE

For enquiries on 22 Pandan Road, please call:
Veronica Chao 6228 6893 / 9111 7775
Chow Kok Seng 6228 7382 / 9685 7557
For enquiries on 26 Loyang Drive, please call:
Chow Kok Seng 6228 7382 / 9685 7557
Sheryl Koh 6228 6899 / 9818 6260
A rare opportunity awaits business owners
looking for properties in the Pandan Industrial
Estate - a standard JTC single-storey detached
factory with a mezzanine level and a single-
storey extension is now available for sale.
Zoned “Business 2”, the approx. 46,000 sq ft
factory sits on a site of approx. 86,000 sq ft.
Selling with three units of 10-tonne overhead
cranes and one unit of 5-tonne overhead
crane, this property with its facilities and
convenient location, is ideal for most business
operations.
Prominently located in the Loyang Industrial
Estate, 26 Loyang Drive offers quality business
space, ideal for corporate companies. The
property is situated within 5-10 minutes drive
from the Singapore Expo and Simei MRT
Stations and is easily accessible to the city
and airport via the East Coast Parkway and
the Pan Island Expressway.
This modern single-storey factory building with
2-storey office annex has a gross floor area of
approx. 150,00 sq ft and a land area of approx.
200,000 sq ft. Featuring clean modern facade,
spacious lobbies, ample parking lots, good
loading and unloading facilities, air conditioned
office and production areas and high ceiling
of up to 9 m, this property is an excellent
opportunity not to be missed.

22 Pandan Road

26 Loyang Drive 26 Loyang Drive

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Business Space – Available for Sale
Full Fledge Warehouse
In Tuas
FOR SALE
Prominently located at the junction of Tuas South
Ave 1 and Tuas South Ave 4, the property is
approx. 5 minutes drive to the Tuas Biomedical
Park and approx. 15 minutes drive to the Second
Link to Malaysia. It enjoys good amenities with
proximity to the Tech Park Food Centre and
the Tuas Amenity Centre.
This 5-storey purpose-built warehouse with
full fledge ASRS and VNA systems, 45 loading
and unloading dock levellers with its own
compound, car parks and driveway, is designed
to suit logistics and warehouse users. We
invite interested parties to contact us for more
information.
Full Fledge Warehouse in Tuas
KnightFrank.com.sg
32 Loyang Crescent
FOR SALE
The purpose-built detached factory building
comprises a single-storey factory with 2-storey
mezzanine office and a 4-storey dormitory
building is available for sale. This property
is zoned “Business 2”, and has a land size of
approximately 45,000, sq ft and a gross floor
area of approx. 38,000 sq ft.
For enquiries on Full Fledge Warehouse in
Established transport infrastructure provides Tuas, please call:
accessibility to other parts of Singapore by its Veronica Chao 6228 6893 / 9111 7775
proximity to the East Coast Parkway and the Lim Kien Kim 6228 6894 / 9457 4000
Pan Island Expressway.
For enquiries on 32 Loyang Crescent,
please call:
Veronica Chao 6228 6893 / 9111 7775
Chow Kok Seng 6228 7382 / 9685 7557
32 Loyang Cresent
ASPECTS
OF REAL ESTATE. 10
 Residential > 01
Auctions > 05
Industrial > 08

industrial
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21

Business Space

In order to move forward, Emerging on top of the Mindset change required

a change in mindset is business property ladder
necessary. Discerning even in a market downturn
investors and space users The Industrial team hosted a seminar in
were advised to look partnership with the Singapore Manufacturers
Association on 16 April 2009, at the Spring
beyond the present crisis Singapore Building. The objective was to share
and recognise that the our research findings, analysis and professional
knowledge so that industrial landlords and users,
current downturn can offer especially those in the manufacturing sector,
significant opportunities. are aware that there are still opportunities that
they can tap on.
Seminar topics included real estate market
information on Singapore as well as Malaysia. We
had the honour of inviting Mr Masri Zohaini Idris,
Director of the Malaysia Industrial Development
Authority (MIDA) to share information about
the Malaysian market.
Since the second half of 2008, the global economy
was hit by a major economic downturn and
being a highly open economy, Singapore was
not spared from the impact of the changing
dynamics of the economy.
Amid this climate of turmoil and uncertainty,
precipitated by the ongoing ‘war on credit’, it is
all too easy to believe that any business property
investment will not be viable. However, those
who understand the cyclical nature of financial
markets will recognise that opportunity knocks
when the previous tide of positive sentiment
goes into a completely reverse gear, as we are
now experiencing.
In order to move forward, a change in mindset
is necessary. Discerning investors and space
users were advised to look beyond the present
crisis and recognise that the current downturn
can offer significant opportunities. This may
involve a mindset change and acceptance of
concepts that are new and unfamiliar.

Mr Lim Kien Kim, Knight Frank’s Director of

Business Space (Industrial) shared some of
these concepts:

Don’t try to catch the market

Mr Masri Zohaini Idris,
Director of MIDA as our
guest speaker
Industrial properties have little or limited
speculative element. 70% of the industrial space
in Singapore falls under the care of the Jurong
Town Corporation (JTC) and will be affected by
policies JTC passes down. Property owners and
buyers should bear in mind that policies are
in a constant state of flux. For example, JTC’s
100% sublet rule was enforced in 2002; in 2008,
subletting of JTC property was capped at 50%;
the rule was lifted in 2009 and JTC properties
can once again be 100% sublet.

If you think you are safe if you do not own a

JTC property, think again. In 2006, the Central
Provident Fund (CPF) Board disallowed the use
of CPF funds to buy non-residential properties.
The bottom line – any relevant authority can
pass laws on how industrial properties can be
owned or used.

One-on-one discussion with participants before the seminar

11 ASPECTS
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 KnightFrank.com.sg

Business Space

Our recommendation is to buy if you

need and sell if you don’t. If the property doesn’t
have a good location and has no rental income
potential in the future, you should sell it off.
Otherwise, it may drain your cash away, As
such, property owners should, bite the bullet
and cut the losses now, rather than let the value
of their properties continue to decline.
Re-engineer Your Space
We all know that Singapore has limited land
area, with only approx. 700 sq km of space on
the entire island. This limits lateral expansion
of space, so the only way is UP or DOWN.
In a move to optimise land use, new concepts
such as the stacked up factories, ramp-up
warehouses and ‘small footprint high plot ratio’
standard factories with hoisting systems have
been developed over the years.
Seek Advice Wisely It is common in Asian
There’s nothing wrong with seeking advice from
bankers, your company’s chief financial officer
culture to be very focused
or your financial advisors on how you should on yourself. However, in
invest in your business properties. Their views
can be useful since they know your business
this complex economy,
better than anyone else. They are in the position part of being a strong
to tell you “We have the money and resources to
do that” or “We can offer you a loan”. But they
company does not entail
may not have insights or intimate knowledge just understanding your cost
of the real estate market.
footprint but also looking at
So, for your real estate needs, heed the advice
of the specialists and practitioners in this field.
alliances and partnerships.
Being on the ground, they have the intimate
and specialist knowledge to help you make
informed decisions.
Knight Frank looks forward to providing
continued professional advice and services
to all our clients.

Going forward, companies must also embrace

technology and invest in human capital. By
doing both, they can expect to improve their
core competencies and move their businesses
up the value chain. These may translate into
processes that allow you to move upwards or
downwards in your space planning.

Landlord and Tenant Partnership

It is common in Asian culture to be very focused
on yourself. However, in this complex economy,
Mr Leslie Khoo,
part of being a strong company does not entail Director KF (Malaysia) giving an
just understanding your cost footprint but also introduction on the Malaysian
Industrial market
looking at alliances and partnerships.

Landlords and tenants need to look at the

bigger picture and form partnerships with a
view of arriving at win-win situations to achieve
business goals. For instance, landlords and
tenants can collaborate to increase productivity,
service levels, and develop a client-friendly
space environment. Tenants can benefit with a
customer centric environment without having to
put out huge investments and long term property
maintenance issues. With asset enhancement,
landlords benefit in higher occupancy and
increased real estate value.
Participants paying attention to the presentation on opportunities in the Industrial market

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 Residential > 01
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Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
office

The Straits Trading Building,
a prestigious landmark with
an iconic name, is a 28-
storey office development
that offers 19 floors of office
space, 2 Sky Terraces and 4
With office rentals falling, there are many
opportunities in the market for tenants to
secure quality space. Knight Frank’s Business
Space-Office Team presents some of these
opportunities.
Straits Trading Building
The only new office development located
22nd floors which provide excellent options
for breakout areas and serve as private event
venues for tenants. The high ceiling, column
free and raised floor office space allows for
maximum flexibility and efficiency.
To top it off, tenants can enjoy a concierge
service provided by the landlord in a strategic
business address.

Floors of Car Parks.
For enquiries, please call: new office space with a typical floor plate of
Robert MacDonald 6228 7327 / 8428 1462
Agnes Tay 6228 6887 / 9639 1173
in the heart of Raffles Place, Straits Trading Leasable office of approximately
Building is strategically located along Battery 8,000 sq ft per floor
Road, next to Raffles Place MRT station and is Next to Raffles MRT station
easily accessible by major express highways Finished floor-to-suspended ceiling
like the Ayer Rajah Expressway and East High ceiling of 3 m
Coast Parkway. Raised access floor
Column free
This modern office development will offer Expected TOP: November 2009
approximately 8,000 sq ft. The Sky Terraces
are located on the 13th & 14th and 21st &

Straits Trading
Building

Straits Trading Building, Sky Terrace Straits Trading Building, Facade

13 ASPECTS
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 KnightFrank.com.sg

MND Building Annex B
MND Building Annex B is conveniently located
at the fringe of the CBD along Maxwell Road. A
unique feature of this development is that the
five-storey Annex block lies above the Amoy
Street Food Centre, providing easy access to
dining facilities along Amoy Street and Telok
Ayer Street. Also located nearby is the famous
Maxwell Food Centre.
The strategic location also provides tenants
with close proximity to amenities such as
shopping and banking facilities. This prominent
development is a mere five minute walk from
Tanjong Pagar MRT station and is easily
accessible via the Ayer Rajah Expressway and
East Coast Parkway.
Annexe B offers approximately 30,000 sq ft of A unique feature of this
office space; with a typical floor plate of 15,000 sq
ft. The development is very much self-contained
development is that the
comprising of an auditorium, a function room, 5-storey Annex block lies
a club house and a childcare centre which are
available for tenants’ usage.
above the Amoy Street
With such amenities nearby and regular shaped
Food Centre, providing
floors for a cost efficient use of office space, easy access to dining
MND Building Annex B would be the ideal choice
in the financial hub of Singapore.
facilities along Amoy Street
Leasable office between approximately
and Telok Ayer Street.
400 – 13,700 sq ft
5 minute sheltered walk to Tanjong Pagar
MRT station
High ceiling of 2.5 m
Available immediately
For enquiries, please call:
Jenibelle Chan 6228 7304 / 9325 0025
Robert MacDonald 6228 7327 / 8428 1462

MND Building
Annex B

MND Building Annex B

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Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
office

Haw Par Centre overlooks
the beautiful and historical
Fort Canning Park
combining an excellent
downtown location with
perfect views.
Haw Par Centre Leasable office between approximately
4,900 – 11,300 sq ft
Raised floor of 150 mm
A stately and elegant 6-storey building, Haw
Par Centre is only minutes away from the
High ceiling of 2.75 m
Column free
business and financial hubs of Raffles Place, Sub-leasing available
Orchard Road and City Hall.
Attractive rental package
Available immediately
Access to the Central Expressway and East
Coast Parkway is only a short distance away.
Haw Par Centre is a mere 5 minute walk to
Dhoby Ghaut MRT station and a 10 minute
stroll from the dining, banking and shopping
facilities available at Plaza Singapura.

Haw Par Centre offers approximately 112,000

sq ft of office space with a typical floor plate
of approximately 9,700 - 21,500 sq ft. This
For enquiries, please call: development allows for plenty of natural lighting
Jenibelle Chan 6228 7304 / 9325 0025 and has two landscaped courtyards on the 6th
Robert MacDonald 6228 7327 / 8428 1462 storey penthouse, which are ideal for a breath
of fresh air or for corporate events.

Haw Par Centre

Haw Par Centre

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Tampines Plaza With a column free floor plate of approximately Tampines Plaza is
12,600 sq ft, Tampines Plaza is set to be an
efficient and attractive alternative to the prime
strategically located in
This 8-storey office development is conveniently
situated across from the Tampines bus interchange
office spaces in the CBD. the heart of Tampines
and only 5 minutes away from the Tampines MRT Leasable office between approximately Financial Centre, which
station. It is also easily accessible via East Coast 12,600 – 25,200 sq ft
Parkway, Pan Island Expressway and Tampines Raised floor
offers cost efficient and
Expressway and is a mere 10 minute drive to Column free quality corporate office
Changi Airport. Comfortable floor-to-ceiling height of 2.7 m
Sub-leasing available
space outside of the Central
Tampines Financial Centre enables one to Availability: July 2009 Business District (CBD).
‘work and play’ outside the CBD as it is a
combination of corporate office buildings,
retail malls, clinics, banks, food & beverage
outlets, Tampines Sports Complex, Tampines
regional library and a post office.
For enquiries, please call:
Jenibelle Chan 6228 7304 / 9325 0025
Robert MacDonald 6228 7327 / 8428 1462

Tampines Plaza Abacus Plaza Tampines Plaza

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 Residential > 01
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KF Estate Management > 17
Investments > 20 Knight frank
estate management
Retail > 21

Training does not stop for Kfem, even in a recession

“I truly believe that training Training does not stop for Question [Q]: What are some of your beliefs and

is not expendable, even KFEM, even in a recession approaches towards training?

Jordan Neo [JN]: I truly believe that training is

during a recession when
there is increased bottom-
line pressure. It is important
to continue investing in our
staff by developing their
competence. With enhanced
skills we can improve
the service quality of our
employees so that
we emerge stronger after
the recession.”
With the current economic climate, it is not
surprising that many employers have taken
to trimming training budgets, alongside pay
cuts and recruitment freeze to improve bottom
lines and save jobs. A recent poll of Singapore
companies revealed that they will be cutting
training budgets by an average of 17 per cent
this year.
However at Knight Frank Estate Management,
there are no plans to cut cost by scaling back
on training. On the contrary, the company has
just launched a programme which is focused
on grooming senior employees to prepare them
for career advancement within the company. We
speak to Mr Jordan Neo, Managing Director of
Knight Frank Estate Management to find out what
are his views and plans for this year’s training
and development within the company.
not expendable, even during a recession when
there is increased bottom-line pressure. It is
important to continue investing in our staff by
developing their competencies. With enhanced
skills we can improve the service quality of
our employees so that we emerge stronger
after the recession. We do not see training as
creating a budget and simply throwing money
into expensive programmes. In KFEM, I take
a personal interest in broader company wide
staff training, and a special focus in developing
our leaders. It demands a lot of my time, but I
think it is worth it as it improves our operating
efficiency. It is also our way of investing into
the future. Thus instead of cutting the training
budget, we will be investing a part of the funds
we received from Job Credit Scheme for this
purpose.
Because of the demanding nature of our
business, high staff attrition is inevitable. We
recognise and accept that. Though we cannot
solve each and every staffing problem, our
belief is that we are better off when we retain
and develop our staff. With structured training,
we will emerge as a preferred employer and
a market leader in the property and facility
management industry.

Team-building activity: Roller-coaster building

17 ASPECTS
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Q: Can you tell us about the training you provide
for KFEM’s work force of over 350 staff?
JN: Training is only effective when it is directed
to meet the needs of individuals. That is a big
challenge! If you take a look at our training
programmes, we try to do just that. At a company
wide level, we put in place bi-monthly training
to engage staff from site managers to senior
management level. The topics which cover both
hard and soft skills are creatively arranged in a
certain order so that the staff get involved at the
right time when relevant topics are presented.
Normally we start the day’s training by getting
our site managers from our portfolio of some
200 sites to discuss and share ideas on how
they cope with work challenges. A wide range
of training topics are covered, such as statutes,
operational matters and improving customer
service etc.
Our trust accounts and corporate staff come
in when we start the soft skills portion and
corporate briefing during which we update our
staff on what is happening within the company.
Beside the solid part of the training, we set
aside time for more light-hearted activities
like celebrating birthdays, lunchtime quizzes
plus good breaks for chatting. On the whole,
apart from imparting skills, we hope to share
KnightFrank.com.sg
our corporate culture and create bonding. We “KFEM’s philosophy is to
try to delight our staff as they have taken time
and trouble to join us.
groom and promote staff
from within the company
Q: How do you really cater for the diverse
training needs of staff at different levels? wherever possible. We
JN: Apart from our group bi-monthly training, normally start by looking
over the years we have designed our regular
training programmes to cater for staff at different
internally to match staff
levels ranging from business unit heads, team with vacancies. Our
managers, to junior positions like technicians and
administrative assistants. Approached creatively,
experience tells us that
the same training video can be used for staff at apart from cultural fit, such
various levels. For team managers’ training, the
focus is mainly on operational aspects, while staff would have already
the discussion for the management team which familiarised themselves
consist of directors and department heads will
focus on strategic planning and leadership with KFEM’s best practices
matters.
and operating procedures.”
Q: Can you tell us more about the new grooming
programme you have recently designed for
selected employees within KFEM?
JN: KFEM’s philosophy is to groom and promote
staff from within the company wherever possible.
We normally start by looking internally to match
staff with vacancies. Our experience tells us that
apart from cultural fit, such staff would have
already familiarised themselves with KFEM’s
best practices and operating procedures.
ASPECTS
OF REAL ESTATE. 18
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20 Knight frank
estate management
Retail > 21

Training does not stop for Kfem, even in a recession (cont’d)

For our new financial year beginning in May, we Q: Can you give an example of how training is
have set aside budget to groom selected team applied and linked back to KFEM’s business
managers and senior executives for business model?
unit heads and head of department positions.
JN: During our recent yearly team building
Our observation over the years is that many
exercise which involved some 300 staff, we
of our senior staff are ready for promotion to
decided to pick a single activity programme of
the next level if we can help them overcome
building a KFEM roller-coaster. The objective was
their weaknesses and strengthen their core
to build a sturdy system which could support
competences in soft skills such as management,
and enable a table tennis ball to roll through
leadership and problem solving.
it. It sounds simple but is not easy.

Q: What attributes do we look for in this group The staff were grouped according to real-life
of employees? What is so special about the work groups - with team managers leading
programme? their respective site staff. Just like real life work
situations, team managers have to supervise and
JN: This person should have a positive attitude
manage the ideas coming from all members.
and certain core competency, and should take
Ultimately the winning team is one which is able
pride in his work. More importantly, he or
to draw out the best idea and move together
she must possess the right values and has a
as a team.
team work mentality. There should also be a
strong desire to excel. We are more concerned To simulate real life business situation, we also
if one has the right attributes as opposed to introduced additional challenges by asking for
knowledge. Given the time and will, the latter a swap of team leaders (necessary because
can be picked up. team managers do resign) during the exercise.
The challenge of having to adjust to different
The grooming programme would have three
culture and style of communication hampered
vital ingredients. Participants can progress at
the smooth progress in the exercise. There was
their own pace. Firstly, there is an element of
a final and surprise twist by asking teams to
one-to-one coaching and guidance to develop
combine their smaller roller-coasters into one
the person as a whole. Secondly, we will also
large KFEM roller-coaster half-way into the game.
be sending all of them to external training
This portion of the game required some teams
courses and seminars, which are targeted at
to rebuild their roller-coaster so that they can
strengthening their specific needs.
fit into the flow. It illustrated how in the course
Lastly, this programme places a strong emphasis of our business, our staff needs to understand,
to strengthen their analytical skills and helping accept and be prepared to continually adapt
them to translate the knowledge acquired into themselves to new customers’ requirements
workplace situations. Staff will undertake case which may be imposed from time to time.
studies and take part in group discussion. There
By helping our staff to understand challenges
would be opportunities to make presentations,
through such teambuilding exercises, we are
lead discussions, as well as a chance for them
constantly refining our ability to work together
to strengthen problem solving skills.
as a big KFEM team. We can ride out challenges
Above all, the main objective of this programme and be on our way to higher success!
is to help our staff apply the knowledge they
For enquiries, please call:
have acquired so that both the staff and company
Jordan Neo 6372 3000 / 9666 8004
can benefit from the investment.

19 ASPECTS
OF REAL ESTATE.
 KnightFrank.com.sg

Investments

Parakou Building Parakou Building, which sits on a land area of Knight Frank is pleased
670.2 sq m (approx. 7,214 sq ft), is a relatively
new 16-storey freehold commercial development
to have brokered the
16-storey freehold commercial development
along Robinson Road
within the CBD. It enjoys excellent frontage with sale of Parakou Building
the building located at the junction of Robinson
Road and McCallum Street.
for $81,380,000.
For nearly a year, there has not been any significant
investment sale in the market …until now! Knight
Besides being the most significant investment
Frank is pleased to have brokered the sale of
building deal so far this year, the sale marks the
Parakou Building for $81,380,000.
first successful transaction carried out jointly
by the investment sales teams in Knight Frank
The price of $81,380,000 works out to a sale
Pte Ltd and our regionally focused Knight Frank
price rate of $1,280psf, based on a lettable area
Capital Markets Group.
of 5,907.8 sq m (approx. 63,591 sq ft), assuming
one tenant per floor.

For enquiries, please call:

Ian Loh 6228 6823 / 9687 0170
Foo Suan Peng 6228 6818 / 9836 2968

Parakou Building

Parakou Building

ASPECTS
OF REAL ESTATE. 20
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
Retail

Positioned as the youth icon of *SCAPE Citibank Singapore

Singapore, *SCAPE sees itself
as an urban entertainment
building that congregates young
Singaporeans and tourists alike,
for creative and cultural exchange,
a place that will draw the curious,
the young at heart and the
creatively-experimental.
For enquiries on *SCAPE, please call:
Charles Ng 6228 7318 / 9626 2060
Jane Kva 6228 7337 / 8113 3084
For enquiries on Citibank Singapore, please call:
Charles Ng 6228 7318 / 9626 2060
113 Somerset Road
Early 2010, Singapore will see a new urban
community space dedicated to young people’s
concept of entertainment, engagement and
creative expressions. This thrilling new space
will be the magnet for young people, being
strategically located in Orchard, set apart
amidst retail giants.
Vibrancy and buzz can be expected as *SCAPE
is jam-packed with facilities such as music and
dance studios, exhibition gallery, street market
for organic street performances and activities,
outdoor sporting arena, performance theatre
and more, alongside electrifying youth-targeted
retail and F&B outlets.
Holland Village
Citibank Singapore Limited has opened its newest
branch at Holland Village, demonstrating its
continued commitment to expand and invest in
its business in Singapore. Supported by Knight
Frank, the move enables Citibank to better
serve its customers, and further entrenches
the bank’s presence where people live, work
and play. The new premises bring the total
number of Citibank branches in Singapore to
21. This new branch will offer the full range
of branch services for Citibanking and Citigold
customers.

*SCAPE Citibank Singapore

21 ASPECTS
OF REAL ESTATE.

Heart To Heart Jewellery
Square 2 Iluma
Embodying the very essence of feminine beauty
and purity, Heart To Heart Jewellery offers
high-quality fashion accessories in a dazzling
array of designs, all comprising high-quality
cubic zirconias. Heart To Heart Jewellery is
currently represented through various retail
outlets in Singapore and Hong Kong.
Knight Frank is pleased to assist in securing
its latest outlet at Square 2. At this carefully
designed outlet, there are sales representatives
to provide the best possible customer service
thereby enhancing the shopping experience
of all who visit.
Heart To Heart Jewellery
KnightFrank.com.sg
Backstage Started just 20 months ago
as a theatre-themed in-store
concession at ODEL, the concept
Backstage is Sri Lanka’s unique home-grown
cum brand has extended to
fashion accessories brand for women. It has seven locations in Sri Lanka,
stepped boldly on to the international stage including a standalone outlet
with the opening of its first overseas outlet at Crescat. Backstage is now
in Singapore and has become one of a few
dazzling shoppers at Iluma,
brands in this sector to go beyond the shores
of Sri Lanka. Singapore’s newest arts and
entertainment shopping mall.
Taking its name from its innovative concept,
Backstage is a theatre-themed retail avenue
For enquiries on Heart To Heart Jewellery,
offering women a vast range of high quality
please call:
after-dark fashion accessories in a unique
Chrisy Goh 6228 7348 / 9151 0652
ambience where shoppers can try on accessories
in spaces designed to make them feel like
For enquiries on Backstage, please call:
they are literally ‘backstage’ and preparing
Tan Ai-Ling 6228 6812 / 9380 0231
to go on a show.
Backstage
ASPECTS
OF REAL ESTATE. 22
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
Retail

RYO Glitter Glam

Iluma Iluma

RYO is a local men’s line tailored with the Glitter Glam is for the chic and contemporary
highest quality fabrics, and refreshing in woman who is bold in making fashion statements.
look and appeal. With three constant goals Always at the fashion frontline, Glitter Glam
- comfort, quality and uniqueness - driving women go for glamour and styles which are
its products, RYO has appealed to men of all unique and unfading.
ages. The range is an exciting collaboration
between local fashion label Top Secret and
various designers from Singapore, Thailand
and Hong Kong. RYO merchandise are produced
in these three countries as well.

For enquiries, please call:

Arina Liew 6228 7367 / 9797 8270

RYO Glitter Glam

23 ASPECTS
OF REAL ESTATE.

Artisan Exchange
Iluma
At Iluma, a new multi-label boutique is set
to take the men’s wear scene by storm.
Prized for its collection of top international
brands like Red Wing Shoes and AIKA Denim
& Collection, coupled with in-house label
Saule, Artisan Exchange endeavours to dress
the new-age man with a discerning taste for
quality apparel.
Artisan Exchange
KnightFrank.com.sg
Otaku House
Iluma
Otaku House brings fun wacky gifts and toys
for all ages and gender. It offers a complete
range of gift choices for all occasions. From
adorable, soft, huggable plushies and couple
accessories, to cute Japanese sailor school
uniforms, shoppers can be sure to f ind
their perfect gift at Otaku House, be it for
birthdays, anniversaries, graduations, or
other celebrations.
For enquiries on Artisan Exchange,
Otaku House has outlets at Plaza Singapura
please call:
and Suntec City. Supported by Knight Frank, it
Alvin Liow 6228 7340 / 9386 6672
has opened the third outlet at Iluma which is
also situated in the heart of Singapore city.
For enquiries on Otaku House, please call:
Arina Liew 6228 7367 / 9797 8270
Otaku House
ASPECTS
OF REAL ESTATE. 24
 Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
Retail

Cheeky Chocolates Red Velvet

Iluma Iluma

Cheeky Chocolates serves high quality, great-
tasting, affordable chocolates, food and
desserts which cater to the foodie lifestyle of
Singaporeans. Known for its first shop along
Upper Thomson, Cheeky Chocolates has now
made its presence at Iluma. Owner, Aaron
Choy, recounts “It has been a pleasure working
with Knight Frank to develop the newest
Cheeky Chocolates outlet at Iluma. From the
site survey to the final finishing touches, our
Knight Frank agent, Jane Kva, has been an
integral part of our expansion. Knight Frank
has paid special attention to our needs and
constraints and has helped us significantly
For enquiries, please call:
to mitigate these concerns.”
Jane Kva 6228 7337 / 8113 3084
Red Velvet is a fashion, accessories and lifestyle
concept store which made its debut at Iluma.
With its emphasis on visual identity, the art of
dressing up takes centrestage at Red Velvet.
Encompassing an exotic collection of Gothix,
Gothic Princess and more, Red Velvet offers
shoppers another level of trendsetting shopping
experience. Red Velvet’s inspiring style and
fashion can definitely provide enjoyment to
customers who want to bring out a desirable
look that is unique to them.

Cheeky Chocolates Red Velvet

25 ASPECTS
OF REAL ESTATE.
 KnightFrank.com.sg

The Coffee Bean & Tea Leaf

Iluma

The Coffee Bean & Tea Leaf opened its latest

outlet at Iluma. Located beside the escalator
leading from the street front, the café has a
window view of vibrant Victoria Street and is
great for people-watching over a cup of coffee.
The design for this trendy and colourful outlet is
classy and in keeping with The Coffee Bean & Tea
Leaf’s style and branding. It was conceptualised
with Iluma’s overall design aesthetics in mind
and yet with a subtle unique edginess for the
café to blend perfectly with the mood of Iluma
and to connect with shoppers.

For enquiries, please call:

Diane Low 6228 6810 / 9684 0647

The Coffee Bean & Tea Leaf

ASPECTS
OF REAL ESTATE. 26
Information herein is accurate at the time of printing.
For enquiries or further information, please contact:
Knight Frank Agency & Professional Services: Auctions, Local & International Investment Sales,
Research & Consultancy, Sales & Leasing of Industrial, Office, Residential & Retail space,
Valuation, Shopping Centre Management & Property Management.
Head Office: 16 Raffles Quay #30-00 Hong Leong Building Singapore 048581.
Tel: 6222 1333  Fax: 6224 5843