Latest news with #DoraChng
Business Times
08-07-2025
- Business
- Business Times
GuocoLand secures S$619.3 million green loan for River Valley Green development
[SINGAPORE] GuocoLand has secured a S$619.3 million green club facility on Tuesday (Jul 8) to finance the acquisition and development of its upcoming River Valley Green (Parcel B) project – a high-end residential development located in Singapore's prime District 9. The green loan was jointly provided by UOB, Bank of China's Singapore branch and OCBC under GuocoLand's Green Finance Framework. This is the latest in a string of green financing initiatives the developer has tapped for its portfolio of integrated and sustainable developments. The 99-year leasehold site, awarded to GuocoLand in February 2025, is strategically located next to Great World MRT station on the Thomson-East Coast Line. Spanning 11,736 square metres, the site offers direct access to Kim Seng Park and the Singapore River. The development will feature about 455 residential units across two towers, as well as commercial shops on the ground floor. Dora Chng, GuocoLand's residential director, said: 'With direct connectivity to the Thomson-East Coast Line, residents of the future development at River Valley Green will have convenient access to all parts of Singapore, in addition to enjoying the wide selection of shopping and dining options right at their doorstep.' She added: 'Residents can also look forward to scenic views of the city and of Singapore River, as well as GuocoLand's signature features such as lush landscaping and efficient, generous layouts that enhance the liveability of the development.' Upon completion, the development is set to achieve the Building and Construction Authority's Green Mark Platinum (Super Low Energy) certification with Maintainability Badge, which signifies a building's exceptional energy efficiency and commitment to sustainable design, construction and operation, with a focus on ease of maintenance. This project adds to GuocoLand's expanding pipeline of green-certified developments. The developer has already secured green financing for its integrated mixed-use projects such as Guoco Tower and Guoco Midtown, and high-end residences including Lentor Modern, Lentor Mansion, and the upcoming Springleaf Residence and Faber Walk development.
Business Times
27-06-2025
- Business
- Business Times
GuocoLand's Dora Chng on condo buyer preferences.
[SINGAPORE] As customers' needs evolve, having a flexible layout can be a big draw for discerning condo buyers here, according to Dora Chng, residential director of GuocoLand . A flexible layout allows a family with young children that requires three bedrooms in their home today to remove a bedroom easily and create a larger living/dining area in future when the children grow up and move out of the home, noted Chng. Speaking to me on a recent episode of the PropertyBT podcast, Chng highlighted how GuocoLand designs condo homes where the bedroom that is closest to the living room can be easily removed. For example, the flooring of the living room extends into the bedroom so when the wall between the living room and bedroom is removed, an owner seamlessly gets a larger living room. She also highlighted that more new condos are catering for people to hold gatherings in dining rooms provided in the development's clubhouse. Condo owners may want to invite family and friends to their home, 'but they may be worried that there isn't enough space for accommodating everybody in the home,' she said. However, with dining rooms that can be amalgamated, condo owners can hold parties of up to 50 people, noted Chng. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Springleaf Residence A recent area of focus for Chng is biodiversity. GuocoLand's next condo launch, Springleaf Residence in Upper Thompson Road, is nestled beside a 30-hectare forest and has unobstructed views of the central catchment nature reserve. According to her, 99-year leasehold Springleaf Residence is the first private residential development here to adopt the biodiversity sensitive design and development approach. She emphasised the need for Spingleaf Residence to strike a balance between being next to the forest and 'living with our neighbours who are in the forest'. For example, the development will use less reflective glass for the windows to minimise bird strike issues. The developer is also looking at bringing the native forest species into the development 'so that we feel and look like part of our neighbouring nature reserve', said Chng. Other features at Springleaf Residence include a literal forest corridor to act as a buffer to the actual forest. The development is located close to Springleaf MRT station on the Thomson-East Coast line, which is one stop away from the Lentor MRT station that serves several of GuocoLand's new condo projects. Chng is pleased with the take-up rates at GuocoLand's Lentor area condo projects, where buyers are predominantly Singaporeans. Among them are young families who are drawn to three-bedders, as well as downsizers and first-timers who like two-bedders. Love for new condos In the Singapore condo market, many buyers like new projects, which can command hefty pricing premium on a per square foot basis versus comparable older condos nearby. Chng said an appeal of new condo homes is that they are typically in move-in condition. 'You hardly need to renovate it at all because it's partially furnished with the necessary appliances. And there are even wardrobes and kitchen cabinets that are fitted already,' she added. Other pluses with new condo homes Chng highlighted include a fresh land lease, modern facilities, efficient layouts and the use of the progressive payment scheme to pay for new homes that are bought off-plan. When it comes to marketing new condo homes, many developers put great effort into building swanky show galleries and show flats. All this despite the growing power of virtual reality tools. Chng does not expect virtual reality to replace physical show flats over the next few years. As the purchase of a home is usually the largest purchase in a person's life, people 'like to see and feel how the development looks', she said. Potential buyers may want to know how the solid surface top feels like or feel the actual space of a unit, she elaborated. Asked whether, with prevailing economic uncertainties, if now is a good time to buy a private home, Chng argues 'when there is a need, I think anytime is the best time'. She added that buyers just need to buy within their means and affordability. One thing that developers need not worry over is a move from the younger generation here away from homeownership. Chng notes currently the younger generation continues to show a strong affinity for homeownership.
Yahoo
09-02-2025
- Business
- Yahoo
GuocoLand tops five bidders for River Valley Green Parcel B with $1,420 psf ppr bid
The site is next to Kim Seng Park and fronts the Singapore River (Source: EdgeProp Landlens) The River Valley Green (Parcel B) tender closed on Feb 7 with five bids. The top bid of $627.84 million came from GuocoLand. Based on the land area of 126,326 sq ft and maximum gross floor area of 442,142 sq ft, the price translates to a land rate of $1,420 psf per plot ratio (ppr). The 99-year leasehold site can yield about 475 residential units with commercial space on the first level. "If we are awarded the site, we plan to build a high-end waterfront residential development with two towers," says Dora Chng, GuocoLand residential District 9 site in Robertson Quay "is the last residential site with direct access to the Singapore River", adds Chng. It is next to Kim Seng Park and fronts the Singapore River. The site also has direct access to the Great World MRT Station on the Thomson-East Coast Line and is just across the road from the popular River Valley Primary School, which should attract families with children of school-going age. Search for the latest New Launches, to find out the transaction prices and available units GuocoLand's bid was 7.9% higher than Sing Holdings' bid of $576.33 million ($1,308 psf ppr). Developers may also have viewed the River Valley Green (Parcel B) site more favourably due to its long frontage facing the Singapore River compared to the other River Valley Green sites, reckons Tricia Song, CBRE head of research for Singapore and Southeast Asia. "The slightly keener interest for [River Valley Green (Parcel B)] perhaps reflects a recovery in developers' confidence in the primary home sales market, supported by strong take-up rates at recent new project launches, as well as moderating interest rates towards the end of 2024," says Wong Siew Ying, head of research and content, PropNex. According to Mark Yip, CEO of Huttons Asia, the bids received were the highest number of bids and tender price for a GLS tender in the Core Central Region (CCR) since Irwell Bank Road, off River Valley Road, in January 2020. The tender attracted seven bids, with City Developments Ltd (CDL) winning the site with a bid of $583.9 million ($1,515 psf ppr). The site at Irwell Bank Road has since been developed into the 540-unit Irwell Hill Residences, which obtained its Temporary Occupation Permit in November 2024. Based on caveats lodged, the latest transaction at Irwell Hill Residences was for the sub-sale of a 678 sq ft, two-bedroom unit on the 15th floor that changed hands for $1.9 million ($2,802 psf) in January. River Valley Green (Parcel B) was initially placed on the Reserve List and zoned for 360 homes and 220 long-stay serviced apartments (SA2). However, in October 2024, it was launched for sale along with three other sites under the 2H2024 GLS programme. GuocoLand's top bid of $1,420 psf ppr for Parcel B is also 7.2% higher than the neighbouring Parcel A. Read also: Allgreen's $1,304 psf ppr at the top of two bids for Zion Road Parcel B Wing Tai Holdings won the River Valley Green (Parcel A) tender in June 2024 with a bid of d $464 million ($1,325 psf ppr). The new project on the site is expected to debut sometime in 2Q2025 as River Green, which is expected to have more than 400 recently awarded GLS sites in the vicinity include Zion Road Parcel B (estimated 610 units) site, which drew two bids and was awarded for $730.09 million ($1,304 psf ppr) in August 2024 to Allgreen Properties, and the SA2 (long-stay serviced apartments) hybrid site at Zion Road Parcel A (735 residential units, 435 SA2 units) which drew a lone bid of $1.1 billion ($1,202 psf ppr) from a joint venture between CDL and Mitsui Fudosan, which were awarded the site in April 2024. Marcus Chu, CEO of ERA Singapore, says that River Valley Green (Parcel B) drew the most bids among the sites. "The previous three sites in the vicinity only had an average of 1.7 bids each," he says. However, developers in the area will have to contend with heightened competition, with 1,725 residential units and 435 SA2 units expected in the pipeline from the three prior sites, says CBRE's Song. Nearby developments Riviere (455 units) saw 47 transactions in 2023 at a median price of $3,083psf and five units change hands in 2024 at a median price of S$2,848 psf. The freehold 545-unit Rivergate, completed in 2009, saw 13 transactions at a median price of $2,809 psf in 2024. Taking the cue from the launch prices at prior sites and new developments, Song reckons the new development at River Valley Green (Parcel B) could be launched at an average price of $3,000 psf. Read also: Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green Mohan Sandrasegeran, SRI head of research & data analytics, anticipates the launch price for the new project to be in the range of $2,800 to $3,000 psf. "With recent new launches in the area, such as Irwell Hill Residences and The Avenir almost fully sold, we may still see healthy demand when this new project is launched for sale to buyers," says Justin Quek, CEO of OrangeTee & Tie. Check out the latest listings for River Green properties See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) Allgreen's $1,304 psf ppr at the top of two bids for Zion Road Parcel B Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green Tender launched for Zion Road (Parcel B) GLS site En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
