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Business Times
14-07-2025
- Business
- Business Times
Two River Valley area projects – River Green and Promenade Peak – begin previews this week
[SINGAPORE] Two new condominium projects in the River Valley enclave, Wing Tai's River Green and Allgreen Properties' Promenade Peak, will start previews this week. The two are the first launches coming out of a cluster of four government land sale sites tendered in the area. Prices at River Green will start from S$2,846 per square foot (psf). Located near Great World MRT and linked to the station, the 99-year leasehold condo has 524 units in a 36-storey block. Pricing for the prime District 9 condo will start from S$1.2 million for a 420 sq ft one-bedroom unit. Two-bedders, sized from 527 sq ft, will go from S$1.5 million, while three-bedders (786 to 883 sq ft) are priced from S$2.25 million. The largest units, with four-bedrooms, will start from S$2.8 million for a 980 sq ft unit. The project has 105 one-bedroom, 280 two-bedroom, 104 three-bedroom and 35 four-bedroom units. Edmund Cheng, Wing Tai Holdings' deputy chairman, said: 'We are confident that River Green will meet the evolving expectations of today's homebuyers, offering not just homes of exceptional quality, but a lifestyle that's both dynamic and holistic for years to come.' The project will be the first residential development in Singapore to achieve the Building and Construction Authority (BCA) Green Mark Platinum (Super Low Energy) certification. When asked about pricing strategy as several other launches in the River Valley area hit the market at the same time, Stacey Ow Yeong, Wing Tai Property Management's head of marketing, said: 'I think it's important for the buyers to see what they want. All of us have our own unique selling points. For us, we sell full connectivity. We sell flexible living. We sell functional, efficient and compact layouts, leading to very affordable prices.' 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 Market watchers noted that River Green's pricing, on a total quantum level, is a shade below selling prices of Toa Payoh project The Orie. The Rest of Central Region (RCR) condo, with prices starting at S$1.28 million for one-bedders, sold 86 per cent of its 777 units at an average of S$2,704 psf in January. River Green starts booking sales on Aug 2. Wing Tai Holdings acquired the 9,291 sq m site that River Green sits on for S$464 million (S$1,325 psf ppr) in a state land tender in June 2024. A month later, Allgreen bid S$730.09 million (S$1,304 psf ppr) for the 9,286 sq m Zion Road site where Promenade Peak is coming up. Just across the Singapore River, Promenade Peak will also start booking sales on Aug 2, at prices around S$3,000 psf, according to market sources. The project, with a District 3 address, has 596 units in a 63-storey block. It will be the world's tallest prefabricated prefinished volumetric construction (PPVC) residential building, and will feature the highest infinity pool in Singapore. The unit mix will include 80 one-bedroom units sized at 527 sq ft; 320 two-bedroom units sized between 657 and 797 sq ft; 118 three-bedroom units sized between 1,033 and 1,195 sq ft; 57 four-bedroom units sized between 1,421 and 1,582 sq ft; and 19 five-bedroom units spanning 1,884 sq ft each. There are also two 4,144 sq ft penthouses on the 63rd floor. Next to the Allgreen development, City Developments Ltd (CDL) and Mitsui Fudosan are building Zyon Grand, a mixed-use integrated development directly connected to Havelock MRT station. The project will comprise two 62-storey residential towers with 706 condo units, a 36-storey tower with 376 serviced apartments and a retail podium. It is expected to be launched in the fourth quarter. CDL and Mitsui Fudosan acquired the site in April 2024 for slightly over S$1.1 billion (S$1,202 psf ppr). A fourth condo is being developed by GuocoLand, on a River Valley Green site acquired at a February tender for S$627.8 million (S$1,420 psf ppr). A fifth site is available under the GLS reserve list. Altogether, the five sites could bring 3,080 new homes into the area, said Christine Sun, chief researcher and strategist of Realion Group. Nearby at Robertson Quay, Frasers Property and Sekisui House will book sales for The Robertson Opus this Saturday (Jul 19) with prices starting from S$3,150 psf. The 999-year mixed-use development comprising 348 homes is a redevelopment of Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk. 'Given the steeper competition, most developers will likely price their projects sensitively to attract consumers,' Sun said.
Straits Times
10-07-2025
- Sport
- Straits Times
Forum: SportSG committed to quality and sustainable sports facilities
Sign up now: Get ST's newsletters delivered to your inbox We thank Mr Kelvin Chua Cher Wei for his letter ' Do more to nurture track and field athletes ' (June 18) and suggestions to improve Singapore's sport facilities. As part of the Sports Facilities Master Plan (SFMP), Sport Singapore (SportSG) will continue to develop new infrastructure and rejuvenate existing facilities across the island while adopting environmentally responsible practices. Bukit Canberra and Kallang Tennis Hub have received the Green Mark Platinum certification, with the latter also achieving the highest-tier Green Mark Platinum Super Low Energy certification. We have implemented climate-responsive measures to manage Singapore's warm and humid climate more sustainably, including treated window glass to minimise heat penetration, energy-efficient ventilation systems, and more sheltered spaces. Additional hydration points were also installed at Kallang Practice Track following recent track replacement works. These efforts further enhance overall users' experience and comfort at our facilities. Moving forward, upcoming and renovated facilities are planned to meet the Green Mark Platinum Super Low Energy certification. At the National Day Rally last year, Prime Minister Lawrence Wong outlined our vision for Singapore's next bound of sporting excellence. Enhancements to the Kallang Alive precinct embody our commitment to strengthen our sport culture. These include a new home for Team Singapore that will bring sports administrators, and sports science and sports medicine professionals under one roof to provide comprehensive athlete support. Beyond infrastructure, the Government continues to strengthen its support for our athletes through initiatives like the spexScholarship programme and the spexEducation Undergraduate Scholarship. In April 2025, the Singapore Sport Institute and National Youth Sports Institute merged to form the High Performance Sport Institute (HPSI) – a key step towards a more integrated athlete support system from youth to senior levels. In the coming years, HPSI and the Singapore Sports School will consolidate into a single entity, providing clear pathways for athletes to pursue both academic and sporting excellence. We are also embracing technological innovation to enhance athlete support. This includes using virtual reality (VR) to help athletes simulate competition venues and practice performance strategies in a controlled environment, whilst overcoming logistical and physical constraints. We appreciate Mr Chua's interest and support for Singapore's sports development, and hope that his encouragement of his children's sporting interests inspires others to do the same. Lim Hong Khiang Chief, Sport Infrastructure Group Sport Singapore
Yahoo
09-07-2025
- Business
- Yahoo
Singtel's redeveloped Comcentre to be Singapore's first AI-enabled, 5G+ connected building
Set to be completed by 2028, the new $3 billion Comcentre will also be the first end-to-end carbon-neutral development in the country with Triple Certification in Singapore and Asia. Singapore Telecommunications (Singtel) and Lendlease have officially broken ground on the new Comcentre, which is slated for completion in 2028. The $3 billion development will feature more than 110,000 square metres of gross floor area across two 20-storey Grade A office towers. It will also include 20,000 square metres of retail and lifestyle spaces (comprising Singtel's new flagship store, F&B offerings, medical suites, a gym, and an auditorium) along with the largest elevated urban park in central Singapore. Set to be Singapore's first AI-enabled building, the Comcentre will be powered by dedicated 5G+ connectivity using network slicing technology provided by Singtel. This will support the seamless integration of AI, IoT sensors, and building systems to enable predictive operations, resource optimisation, and enhanced security. The building will also feature smart infrastructure that adapts to environmental conditions, alongside technology-enabled spaces designed for the future of work and retail. 'The new Comcentre will be the first AI-enabled building powered by dedicated 5G+ connectivity with network slicing to deliver ultra-fast speeds, seamless connectivity and robust security for its tenants. [We are] creating a place not just for ourselves but for businesses to use the latest technologies to develop new products and solutions and thrive. This will showcase how advanced connectivity, data and intelligent systems can transform the way people work, live and engage with their environment,' says Singtel Group CEO Yuen Kuan Moon at the groundbreaking ceremony. Besides that, the Comcentre will be a carbon-neutral development, from design through construction and operations, through the use of smart building and digital technologies. It is on track to be the first in Singapore and Asia to achieve a 'Triple Certification.' The development is targeting the International Living Future Institute's Zero Carbon certification and the WELL v2 Core Platinum Certification from the International WELL Building Institute. It also aims to become Singapore's first Green Mark Platinum (Zero Energy) high-rise commercial building under the Building and Construction Authority (BCA)'s sustainability guidelines, meeting all five of BCA's sustainability badges. Designed to achieve 70% energy savings from the Green Mark 2005 baseline, the building will cut energy consumption by an estimated 12 million kWh annually, enough to power over 3,750 three-room HDB flats, said Lendlease group CEO and managing director Tony Lombardo. To meet these targets, the project will include efforts such as: 1,000 kWp onsite renewables installed through the use of rooftop photovoltaic (PV) panels and building integrated photovoltaic panels (BiPV) to generate renewable energy Centralised high-efficiency dual-temp chiller plant supported by Active Chilled Beam and Variable Air Volume hybrid cooling system with elevated setpoint temperature for improved energy efficiency Low heat gain façade with high-performing glazing and extensive building shading to reduce cooling demand Smart lighting system with daylight and occupancy sensors for adaptive dimming and energy savings High-efficiency lifts with Variable Voltage Variable Frequency, sleep mode and regenerative features to optimise energy use EV-ready infrastructure, enabling up to 30% of parking lots to support electric vehicles (EV) The development will also reduce potable water use by 69% (equivalent to 25 Olympic-sized swimming pools) through rainwater harvesting as well as using NEWater for toilet flushing and a water intelligence system. '[This project] combines our deep expertise in sustainable development with a vision for how people will live, work and connect in the future. We are proud to partner with Singtel to deliver a world-class asset that not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond,' says Lombardo. The redevelopment will showcase a digital-first approach to construction. Lendlease and its partners will implement 19 integrated digital delivery (IDD) use cases, ranging from digital design checks and virtual coordination to real-time asset monitoring and digital operations. Advanced construction methods will also be used to cut on-site labour needs by up to 30% and shorten delivery timelines by as much as 20%, according to a joint press statement. At the same event, Minister for National Development Chee Hong Tat highlighted the Comcentre's innovative contracting model as a blueprint for future developments. 'It is amongst the few major private sector projects in Singapore to incorporate an open-book payment model with gain share and Guaranteed Maximum Price, and is a forerunner for more collaborative and risk-sharing models in Singapore's Built Environment sector. This is a progressive shift away from the traditional lump sum contracting model that is common in the industry today,' he says. Under this arrangement, contractors are reimbursed for actual costs up to an agreed ceiling, with cost savings shared between the developer and builder. This encourages continuous innovation, joint problem-solving, and aligned incentives towards delivering better outcomes. 'When completed, the new Comcentre will not only be a showcase of future-ready infrastructure but also a model of how sustainability, technology and collaboration can come together to redefine and transform our built environment for future generations to come,' adds Chee. As at 12pm, shares in Singtel are trading 6 cents higher or 1.54% up at $3.96. 8% y-o-y to $8.2 mil Singtel's enhanced connectivity solution to support enterprises' global IoT deployment DBS raises Singtel's TP to $4.58, says telco's core value could increase by 180% Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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.
The Sun
26-06-2025
- Business
- The Sun
GREE Opens Singapore Office to Drive Asia-Pacific Expansion with World-Class Air Conditioning Technologies
SINGAPORE- Media OutReach Newswire - 26 June 2025 - Global electronics manufacturer GREE has officially launched its Singapore branch, marking a key milestone in its expansion in Southeast Asia. Widely recognised as the global market leader in air conditioning, GREE has held the top market share in household air conditioners for 18 consecutive years, according to Euromonitor International. Backed by 46 cutting-edge technologies developed entirely in-house, GREE's commercial air conditioning systems span 10 major series and thousands of models, comprehensively serving a wide range of environments, from super high-rise buildings and large transport hubs to data centres, hospitals, factories, and industrial sites. GREE has also maintained the No. 1 position in China's central air conditioning market for 13 consecutive years. In 2024, it captured over 15% of the market, leading the sales rankings among mainstream brands. Notably, its modular units, variable refrigerant flow (VRF) systems, and unitary air conditioners achieved market shares of 12.7%, 20%, and 35.6%, respectively. These strong results further reinforce GREE's position as a global air conditioning leader, driven by continuous innovation and comprehensive, scenario-based solutions. Singapore as a Strategic Gateway for GREE's Expansion --> Driving the Global Expansion of GREE's with Singapore as a Strategic Hub In recent years, GREE has focused on expanding its presence in overseas markets, particularly in ASEAN countries such as Malaysia and Indonesia. As of today, self-branded products account for 70% of the company's total export volume. As the heart of Southeast Asia, a key financial and trade hub, Singapore serves as a strategic base for GREE's regional expansion. Moving forward, GREE Singapore will spearhead strategic planning, investment, and market research, while driving business development to bring the company's innovative cooling solutions across the region. --> Anchoring Singapore's High-Standards Market as a Launchpad for Global Innovation Singapore upholds the world's highest standards for energy-efficient air conditioning technologies, such as the Green Mark Platinum certification. It is also a hub for top global design consultants like Arcadis and Arup, providing an ideal platform for the incubation and validation of advanced technical solutions. With its groundbreaking technology, GREE's 'Zero Carbon Source' photovoltaic storage direct current soft load system has achieved an industry-leading photovoltaic direct-drive utilisation rate of 99.04%. Meanwhile, its permanent magnet synchronous variable frequency water chiller is the first Chinese brand to be installed at GlobalFoundries' semiconductor facility, a testament to the strong alignment between GREE's innovations and local standards. By using Singapore as a springboard, GREE is well positioned to promote its self-developed, world-class technologies globally. --> Strengthening Local Service Capabilities Through Direct Operations The GREE Singapore team will establish a comprehensive three-pronged service framework. This includes a streamlined after-sales system to ensure prompt and efficient customer support, as well as the development of a regional technical training programme in collaboration with local higher education institutions. Additionally, GREE will work closely with local distributors to deliver an integrated purchasing experience that combines hands-on product demonstrations with robust technical support. Recognising the humid and coastal climate of Southeast Asia, GREE will also introduce customised solutions such as its Black Fin technology, which significantly enhances corrosion resistance and extends product lifespan. GREE's First Wave of Products Debuts in Singapore With the official inauguration of the GREE Singapore Branch, the company has introduced its first wave of products to the local market. The launch includes the CHARMO split wall mounted series, FREE MATCH systems, and variable refrigerant flow (VRF) solutions, all equipped with customised and practical technologies tailored to meet the specific needs of Singaporean consumers. --> Enhanced Durability with Black Fin Condenser Technology GREE products are equipped with advanced Black Fin technology, offering 67% greater corrosion resistance compared to traditional blue fin heat exchangers. This makes them particularly well-suited for island climates like Singapore, delivering longer service life and enhanced performance in humid conditions. --> Advanced Filtration for Healthier Living GREE's air conditioners are equipped with a multi-layer filtration system featuring tri-color filters, PM2.5 filters, and advanced plasma (Colasma) technology. Together, these features effectively eliminate dust, bacteria, and allergens to ensure cleaner, healthier indoor air. This integrated purification system reflects GREE's commitment to enhancing home environments and promoting long-term wellbeing through innovative design. --> Intelligent Self-Cleaning and Easy Maintenance Design GREE air conditioners are thoughtfully designed with self-cleaning functions and easy-to-clean features, reducing maintenance efforts while consistently maintaining high air quality. Equipped with intelligent i-Feel sensing technology, the units automatically adjust temperature settings based on real-time room conditions to ensure optimal comfort. Through the GREE+ app, users can conveniently manage their air conditioners and other smart home devices remotely, as well as monitor energy usage. Wi-Fi connectivity enables seamless, precise control of the home environment for a truly smart and comfortable living experience. With authorised partners located across Singapore, GREE customers can access air-conditioning products, installation services and technical support. For further assistance, customers may also contact the GREE hotline at 6816 9090. Looking ahead, GREE's new Singapore office firmly anchors the company's strategic pivot to the Asia-Pacific region. As a global leader in air conditioning, GREE is committed to enhancing modern living in Singapore through energy-efficient technologies and premium products that meet the country's high standards. Leveraging Singapore's position as a regional hub, GREE aims to build an extensive business network across Southeast Asia, expanding its global footprint while advancing sustainable innovation throughout the region and beyond. About GREE Founded in 1991, GREE Electric Appliances Inc. of Zhuhai is one of the world's largest manufacturers of air conditioners and smart home appliances. Headquartered in Zhuhai, China, GREE integrates independent research, development, and production across its full product line, including residential and commercial HVAC systems, air purifiers, water heaters, and smart home technologies. GREE's products are sold in over 160 countries, and the company has held the No.1 global market share in household air conditioners for 18 consecutive years (Euromonitor International). With more than 90,000 employees worldwide and a reputation for innovation, energy efficiency, and high-quality manufacturing, GREE is committed to delivering intelligent, sustainable solutions that improve lives and protect the planet. GREE Singapore marks the company's first direct presence in the country and serves as a strategic hub for Southeast Asia. The branch leads local operations, customer service and regional business development, bringing GREE's advanced energy efficient air conditioning solutions closer to Singaporean consumers and partners.
