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

One Devonshire, Balinese Garden

One Devonshire,
Rock Garden

One Devonshire, Mediterranean Garden One Devonshire, Facade

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Projects Highlights

Double Bay Residences It enjoys the most convenient location being Double Bay Residences’
just a 3 minute stroll away from Simei MRT and
Inspired by nature. Eastpoint Mall. In addition, Changi Business
extraordinary features
Created for luxury. Park, Singapore’s 4th University and World of a one-tree island,
College which will also be here soon adds to
More than 60% sold! the appeal.
5-storey waterfall,
3- & 4-Bedrooms and Duplexes available elevated Jacuzzi, lagoon
What’s more! The larger units boast features such
Stretching across 346,000 sq ft of lushly as curved shower rooms, ponds, private swimming
pool with another 50 m
landscaped grounds and comprising of 646 pools and roof top jacuzzis. All apartments are lap pool and sports deck
spacious homes, Double Bay Residences sets fitted with elegant finishings comparable to
a new standard of living in Simei. 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, Landscape 1 Double Bay Residences, Library

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

For enquiries, please call:


Deric Chong 9837 8786

Verdure @ Holland Park

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

Land at Ponggol Road Peninsula Plaza Henley Industrial


Building

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Investments > 20
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auctions

Properties For Private Treaty Sale

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

A rare opportunity awaits business owners Prominently located in the Loyang Industrial
looking for properties in the Pandan Industrial Estate, 26 Loyang Drive offers quality business
Estate - a standard JTC single-storey detached space, ideal for corporate companies. The
factory with a mezzanine level and a single- property is situated within 5-10 minutes drive
storey extension is now available for sale. from the Singapore Expo and Simei MRT
Stations and is easily accessible to the city
Zoned “Business 2”, the approx. 46,000 sq ft and airport via the East Coast Parkway and
factory sits on a site of approx. 86,000 sq ft. the Pan Island Expressway.
Selling with three units of 10-tonne overhead
For enquiries on 22 Pandan Road, please call: cranes and one unit of 5-tonne overhead This modern single-storey factory building with
Veronica Chao 6228 6893 / 9111 7775 crane, this property with its facilities and 2-storey office annex has a gross floor area of
Chow Kok Seng 6228 7382 / 9685 7557 convenient location, is ideal for most business approx. 150,00 sq ft and a land area of approx.
operations. 200,000 sq ft. Featuring clean modern facade,
For enquiries on 26 Loyang Drive, please call: spacious lobbies, ample parking lots, good
Chow Kok Seng 6228 7382 / 9685 7557 loading and unloading facilities, air conditioned
Sheryl Koh 6228 6899 / 9818 6260 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 32 Loyang Crescent


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

Full Fledge Warehouse in Tuas 32 Loyang Cresent

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


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
Mr Masri Zohaini Idris,
Director of MIDA as our policies JTC passes down. Property owners and
guest speaker 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
OF REAL ESTATE.
KnightFrank.com.sg

Business Space

Our recommendation is to buy if you


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

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

ASPECTS
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Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
office

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

Floors of Car Parks. 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
For enquiries, please call: new office space with a typical floor plate of
Robert MacDonald 6228 7327 / 8428 1462 approximately 8,000 sq ft. The Sky Terraces
Agnes Tay 6228 6887 / 9639 1173 are located on the 13th & 14th and 21st &

Straits Trading
Building

Straits Trading Building, Sky Terrace Straits Trading Building, Facade

13 ASPECTS
OF REAL ESTATE.
KnightFrank.com.sg

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

MND Building
Annex B

MND Building Annex B

ASPECTS
OF REAL ESTATE. 14
Residential > 01
Auctions > 05
Industrial > 08
Office > 13
KF Estate Management > 17
Investments > 20
Retail > 21
office

Haw Par Centre overlooks Haw Par Centre Leasable office between approximately
4,900 – 11,300 sq ft
the beautiful and historical Raised floor of 150 mm
A stately and elegant 6-storey building, Haw
Fort Canning Park Par Centre is only minutes away from the
High ceiling of 2.75 m
Column free
combining an excellent business and financial hubs of Raffles Place, Sub-leasing available
Orchard Road and City Hall.
downtown location with Attractive rental package
Available immediately
Access to the Central Expressway and East
perfect views. 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

15 ASPECTS
OF REAL ESTATE.
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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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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

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

Q: Can you tell us about the training you provide our corporate culture and create bonding. We “KFEM’s philosophy is to
for KFEM’s work force of over 350 staff? try to delight our staff as they have taken time
and trouble to join us.
groom and promote staff
JN: Training is only effective when it is directed
to meet the needs of individuals. That is a big from within the company
Q: How do you really cater for the diverse
challenge! If you take a look at our training
training needs of staff at different levels? wherever possible. We
programmes, we try to do just that. At a company
wide level, we put in place bi-monthly training JN: Apart from our group bi-monthly training, normally start by looking
to engage staff from site managers to senior
management level. The topics which cover both
over the years we have designed our regular
training programmes to cater for staff at different
internally to match staff
hard and soft skills are creatively arranged in a levels ranging from business unit heads, team with vacancies. Our
certain order so that the staff get involved at the managers, to junior positions like technicians and
right time when relevant topics are presented. administrative assistants. Approached creatively,
experience tells us that
Normally we start the day’s training by getting the same training video can be used for staff at apart from cultural fit, such
our site managers from our portfolio of some various levels. For team managers’ training, the
200 sites to discuss and share ideas on how focus is mainly on operational aspects, while staff would have already
they cope with work challenges. A wide range the discussion for the management team which familiarised themselves
of training topics are covered, such as statutes, consist of directors and department heads will
operational matters and improving customer focus on strategic planning and leadership with KFEM’s best practices
service etc. matters.
and operating procedures.”
Our trust accounts and corporate staff come
Q: Can you tell us more about the new grooming
in when we start the soft skills portion and
programme you have recently designed for
corporate briefing during which we update our
selected employees within KFEM?
staff on what is happening within the company.
Beside the solid part of the training, we set JN: KFEM’s philosophy is to groom and promote
aside time for more light-hearted activities staff from within the company wherever possible.
like celebrating birthdays, lunchtime quizzes We normally start by looking internally to match
plus good breaks for chatting. On the whole, staff with vacancies. Our experience tells us that
apart from imparting skills, we hope to share 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 113 Somerset Road Holland Village
building that congregates young Early 2010, Singapore will see a new urban Citibank Singapore Limited has opened its newest
Singaporeans and tourists alike, community space dedicated to young people’s branch at Holland Village, demonstrating its
for creative and cultural exchange, concept of entertainment, engagement and continued commitment to expand and invest in
a place that will draw the curious, creative expressions. This thrilling new space its business in Singapore. Supported by Knight
will be the magnet for young people, being Frank, the move enables Citibank to better
the young at heart and the
strategically located in Orchard, set apart serve its customers, and further entrenches
creatively-experimental. amidst retail giants. the bank’s presence where people live, work
and play. The new premises bring the total
Vibrancy and buzz can be expected as *SCAPE number of Citibank branches in Singapore to
is jam-packed with facilities such as music and 21. This new branch will offer the full range
For enquiries on *SCAPE, please call:
dance studios, exhibition gallery, street market of branch services for Citibanking and Citigold
Charles Ng 6228 7318 / 9626 2060
for organic street performances and activities, customers.
Jane Kva 6228 7337 / 8113 3084
outdoor sporting arena, performance theatre
and more, alongside electrifying youth-targeted
For enquiries on Citibank Singapore, please call:
retail and F&B outlets.
Charles Ng 6228 7318 / 9626 2060

*SCAPE Citibank Singapore

21 ASPECTS
OF REAL ESTATE.
KnightFrank.com.sg

Heart To Heart Jewellery Backstage Started just 20 months ago


as a theatre-themed in-store
Square 2 Iluma concession at ODEL, the concept

Embodying the very essence of feminine beauty Backstage is Sri Lanka’s unique home-grown
cum brand has extended to
and purity, Heart To Heart Jewellery offers fashion accessories brand for women. It has seven locations in Sri Lanka,
high-quality fashion accessories in a dazzling stepped boldly on to the international stage including a standalone outlet
array of designs, all comprising high-quality with the opening of its first overseas outlet at Crescat. Backstage is now
cubic zirconias. Heart To Heart Jewellery is in Singapore and has become one of a few
dazzling shoppers at Iluma,
currently represented through various retail brands in this sector to go beyond the shores
outlets in Singapore and Hong Kong. of Sri Lanka. Singapore’s newest arts and
entertainment shopping mall.
Knight Frank is pleased to assist in securing Taking its name from its innovative concept,
its latest outlet at Square 2. At this carefully Backstage is a theatre-themed retail avenue
For enquiries on Heart To Heart Jewellery,
designed outlet, there are sales representatives offering women a vast range of high quality
please call:
to provide the best possible customer service after-dark fashion accessories in a unique
Chrisy Goh 6228 7348 / 9151 0652
thereby enhancing the shopping experience ambience where shoppers can try on accessories
of all who visit. 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.

Heart To Heart Jewellery 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.
KnightFrank.com.sg

Artisan Exchange Otaku House


Iluma Iluma

At Iluma, a new multi-label boutique is set Otaku House brings fun wacky gifts and toys
to take the men’s wear scene by storm. for all ages and gender. It offers a complete
Prized for its collection of top international range of gift choices for all occasions. From
brands like Red Wing Shoes and AIKA Denim adorable, soft, huggable plushies and couple
& Collection, coupled with in-house label accessories, to cute Japanese sailor school
Saule, Artisan Exchange endeavours to dress uniforms, shoppers can be sure to f ind
the new-age man with a discerning taste for their perfect gift at Otaku House, be it for
quality apparel. 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

Artisan Exchange 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- Red Velvet is a fashion, accessories and lifestyle
tasting, affordable chocolates, food and concept store which made its debut at Iluma.
desserts which cater to the foodie lifestyle of With its emphasis on visual identity, the art of
Singaporeans. Known for its first shop along dressing up takes centrestage at Red Velvet.
Upper Thomson, Cheeky Chocolates has now Encompassing an exotic collection of Gothix,
made its presence at Iluma. Owner, Aaron Gothic Princess and more, Red Velvet offers
Choy, recounts “It has been a pleasure working shoppers another level of trendsetting shopping
with Knight Frank to develop the newest experience. Red Velvet’s inspiring style and
Cheeky Chocolates outlet at Iluma. From the fashion can definitely provide enjoyment to
site survey to the final finishing touches, our customers who want to bring out a desirable
Knight Frank agent, Jane Kva, has been an look that is unique to them.
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

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

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