New Reporter
28-07-23, 08:46
DB2 previews Orchard Sophia from $2,750 psf, with absolute prices from $1.23 mil to $2.29 mil
July 28, 2023
https://i.imgur.com/hvcT3ah.jpg
Five years ago, when Fairhaven was launched for collective sale, Dennis Leong, founder and CEO of DB2, did not bid for it. However, it got his attention in 2020 when Fairhaven re-entered the collective sale market with the neighbouring Sophia Ville. He paid $62 million for both freehold sites on Sophia Road in prime District 9.
The combined sites produced a land area of 23,881.5 sq ft. “Buying just one plot wouldn’t be as nice as you would only be able to build a 20-30 unit development,” says Leong. “You need to buy both to achieve a nice squarish plot.”
The combined site area is 23,881.5 sq ft and the new five-storey condominium Orchard Sophia will have 78 units. About 15% of the units are one-bedders ranging from 441 sq ft to 484 sq ft. The majority are two-bedders of 581 sq ft to 710 sq ft, making up 55 units (71%). Three bedders of 764 sq ft account for just three units, while three-bedroom dual-key units of 829 sq ft to 840 sq ft comprise the remaining five units in the development.
Leong wants the project to evoke the feeling of “staying in a boutique hotel” from the point of arrival at the drop-off point or basement carpark to the lobby. “I want the project to feel exclusive for residents, whether they are owner occupiers or tenants,” he says.
DB2 engaged Ong & Ong as the design architect, with EcoPlan Asia as the landscape architect and Creative Mind Design as the interior designer for the showflats and the units’ interiors in Orchard Sophia.
Under the URA Master Plan, the site has a plot ratio of 2.1, which means it could go up to 24 storeys. However, as the site faces Istana Park, for security reasons, the height of the building was restricted to five storeys. This presented an interesting counterpoint to Lai Tien Yong, Ong & Ong studio director–architecture. “There are no taller buildings in the vicinity,” he says. “So it will still be the tallest building in the area, given its perch at the top of the hill. Residents can still enjoy a bird’s eye view of Orchard Road and Istana Park.”
Given the orientation of the units in the two blocks, which are in the northwest-southeast direction, about 75% of the units at Orchard Sophia will enjoy unblocked city views, says Lai. The remaining 25% of the units will have views of the inner courtyard and the 20m lap pool. Moreover, the gap between the two blocks creates a wind tunnel; hence units will enjoy good cross ventilation, he adds.
In addition to the conventional balcony, which acts as an extension of the living room, each bedroom will have a “Juliet balcony”, says Lai. “During Covid, we noticed many people wanting to create a little garden at their balconies,” he says.
A brass-coloured mesh on the façade serves a dual function beyond aesthetics: as a privacy screen and shading device to cut the sun’s glare, according to Lai.
‘Creating a semi-Mohamed Sultan vibe’
What sets the development apart from the others in the Sophia Road neighbourhood is the 6,000 sq ft landscaped facilities deck on the rooftop. “We are assimilating a semi-Mohamed Sultan vibe here,” says landscape architect and director of Ecoplan Asia Thanapong Boonyasiriwat (Gong).
Before designing the landscape, Gong studied the surrounding neighbourhood “to check out the competition”, he says. He found a neighbourhood dotted with boutique developments that were so built-up that the mechanical and electrical services took up the entire rooftop, leaving little room for landscaping.
Gong decided to turn the rooftop into something “edgy”, with the vibrancy of a boutique luxury resort hotel. He divided the rooftop into different quarters: a quiet quarter for spa and wellness with a spa pool, another quarter for fitness with some outdoor gym equipment, a social quarter with a sunken lounge for people to gather in the evenings, and a dining and bar quarter, for people to entertain friends and family, with a capacity of 10 people.
Given the tertiary education institutions nearby, such as LaSalle College of The Arts, Nanyang Academy of Fine Arts (Nafa), School of the Arts (Sota) and Singapore Management University (SMU), and proximity to the Dhoby Ghaut MRT interchange station, Orchard Road malls and the CBD, Gong reckons the profile of the residents are likely to be the students attending the schools and young expatriate executives who want a prime address in the Sophia area.
“It’s ideal for those who want to entertain at home but do not have the space within their apartment to do so,” says Gong. “They can entertain their friends at the rooftop and hold parties there.”
‘Boutique-hotel feel’
With St Margaret’s Primary School nearby and Anglo-Chinese School (Junior) within a 1km range, DB2’s Leong does not rule out young families with just one or two children of school-going age. “The two- and three-bedroom units are ideal for small families,” he says.
Given the unit mix at Orchard Sophia, Leong expects to see buying interest from both investors and end-users. “Young couples will like the two-bedroom types,” he says. “Those who want a study area but do not wish to sacrifice one of the bedrooms can use the household shelter. It is ideal as a study, a pantry or even a helper’s room.”
The interior designers at Creative Mind Design also ensured that the interiors exude the boutique hotel feel. “We wanted to create a warm and hospitable feel from the moment you drive in and even as you walk along the walkway,” says the firm’s design director Alvin Tan. “We integrated our palette and materials to harmonise with the architecture.”
In keeping with contemporary interiors, the living room tiles are large porcelain tiles of matte finish. The kitchen cabinets also come with a built-in rack for spices and condiments. A polished backsplash and countertop made of sintered stone were selected for the kitchen for its durability, says Tan, and also “to provide an interesting contrast to the matte finish of the flooring”.
The developer is providing quality brands in terms of appliances and fittings, for instance, Smeg kitchen appliances, Bosh washer cum dryer, and Franke kitchen faucets and mixer. Bathrooms are fitted with Gessi shower sets and faucets, Hansgrohe accessories, Duravit water closets and Geberit flush plates.
The showflats of the two-bedroom unit and the three-bedroom dual-key unit are also designed to give homeowners ideas on how they can create storage spaces and work areas, notes Constance Tew, creative director at Creative Mind Design.
Tew found DB2 refreshing. “When I first met Dennis [Leong], he kept talking about how he wanted Orchard Sophia to be more akin to a boutique hotel; a place where residents would be proud to call home,” she relates. “The typical boutique developer usually wants to carve out small units, use cheap materials and sell out their project quickly.”
Focus on boutique, freehold projects
DB2 has been in the property development business since Leong founded the firm in 2006. He has focused mainly on freehold, boutique residential projects. Past projects include the freehold Siglap V with 114 apartments on the upper floors and retail units on the first level. Located in prime District 15 in the Siglap area, it was launched in 2010 and completed in 2013. In the Kovan area, DB2 launched the 164-unit, freehold, mixed-use development Promenade @ Pelikat on Pelikat Road in 2012. The project in District 19 was completed in 2015.
Boutique developments in the prime districts developed by DB2 include the 69-unit 10 Shelford, launched in 2011. The freehold project on Shelford Road in prime District 11 was fully sold and completed in 2014. The 84-unit, freehold Devonshire Residences was launched in 2011 and sold out. Located on Devonshire Road, it sits in prime District 9 and was completed in 2015.
According to Leong, absolute prices at Orchard Sophia will start from $1.23 million for a one-bedroom to $2.29 million for a three-bedroom unit. On a psf basis, prices will start from $2,750 psf.
“Orchard Sophia is attractive from a psf price perspective,” says Ismail Gafoor, CEO of PropNex. “Notably, with new launches of 99-year leasehold suburban projects in the Outside Central Region (OCR) priced from $2,000 psf, and even 99-year leasehold, city fringe or Rest of Central Region (RCR) projects going for $2,400 psf to $2,500 psf.”
According to Marcus Chu, CEO of ERA Singapore, the median price of condos transacted in District 9 in 1H2023 was $2,877 psf. “With Orchard Sophia starting from $2,750, we can expect keen interest from both homebuyers and investors,” he says.
“With the narrowing price gap between CCR and RCR new project launches, we can expect more astute homebuyers and investors to zoom in on CCR buys today,” adds Chu.
First new launch in the CCR in 2023
The last launch in the CCR was last November, namely the 72-unit, freehold Hill House on Institution Road, off River Valley in prime District 9, according to Huttons Data Analytics. To date, 17 units at Hill House have been sold at an average price of $3,003 psf, based on caveats lodged. Another project launched last year was the 38-unit Sophia Regency across the road from Orchard Sophia. Prices of the freehold development started from $2,850 psf. So far, no caveats have been recorded for the project.
“Orchard Sophia will be the first CCR launch in 2023,” says Mark Yip, CEO of Huttons Asia. The project is within District 9, a five-minute walk to the Dhoby Ghaut MRT interchange.
Yip reckons the palatable quantum and dual-key units for Orchard Sophia are likely to appeal to buyers who are end-users or investors. “Looking at the unit mix, the target market will likely be singles, families and investors,” he adds.
Targeting end-user, investor demand
Justin Quek, deputy CEO of OrangeTee, sees Orchard Sophia’s unique identity attracting Singaporeans and expatriates who prefer the intimacy of “boutique-style condo living”. “Professionals from the creative and education industry seem to be the target market given the arts and international schools in the vicinity,” he observes.
Quek also sees interest coming from first-time homebuyers, especially Singaporeans who want the flexibility of moving in or renting out the unit when the project is completed. Orchard Sophia is targeted for completion in 1Q2027.
According to PropNex’s Gafoor, the developers have taken their competition into consideration and have priced their units sensitively.
Orchard Sophia is previewing on the same weekend (July 29-30) as TMW Maxwell on Tras Street in the Tanjong Pagar neighbourhood.
“There’s little overlap as both Orchard Sophia and TMW Maxwell have their respective target audiences,” he says. “But investors with a budget of $1.5 million to about $2 million will now have a choice.”
More at: https://www.edgeprop.sg/property-news/db2-previews-orchard-sophia-2750-psf-absolute-prices-123-mil-229-mil
July 28, 2023
https://i.imgur.com/hvcT3ah.jpg
Five years ago, when Fairhaven was launched for collective sale, Dennis Leong, founder and CEO of DB2, did not bid for it. However, it got his attention in 2020 when Fairhaven re-entered the collective sale market with the neighbouring Sophia Ville. He paid $62 million for both freehold sites on Sophia Road in prime District 9.
The combined sites produced a land area of 23,881.5 sq ft. “Buying just one plot wouldn’t be as nice as you would only be able to build a 20-30 unit development,” says Leong. “You need to buy both to achieve a nice squarish plot.”
The combined site area is 23,881.5 sq ft and the new five-storey condominium Orchard Sophia will have 78 units. About 15% of the units are one-bedders ranging from 441 sq ft to 484 sq ft. The majority are two-bedders of 581 sq ft to 710 sq ft, making up 55 units (71%). Three bedders of 764 sq ft account for just three units, while three-bedroom dual-key units of 829 sq ft to 840 sq ft comprise the remaining five units in the development.
Leong wants the project to evoke the feeling of “staying in a boutique hotel” from the point of arrival at the drop-off point or basement carpark to the lobby. “I want the project to feel exclusive for residents, whether they are owner occupiers or tenants,” he says.
DB2 engaged Ong & Ong as the design architect, with EcoPlan Asia as the landscape architect and Creative Mind Design as the interior designer for the showflats and the units’ interiors in Orchard Sophia.
Under the URA Master Plan, the site has a plot ratio of 2.1, which means it could go up to 24 storeys. However, as the site faces Istana Park, for security reasons, the height of the building was restricted to five storeys. This presented an interesting counterpoint to Lai Tien Yong, Ong & Ong studio director–architecture. “There are no taller buildings in the vicinity,” he says. “So it will still be the tallest building in the area, given its perch at the top of the hill. Residents can still enjoy a bird’s eye view of Orchard Road and Istana Park.”
Given the orientation of the units in the two blocks, which are in the northwest-southeast direction, about 75% of the units at Orchard Sophia will enjoy unblocked city views, says Lai. The remaining 25% of the units will have views of the inner courtyard and the 20m lap pool. Moreover, the gap between the two blocks creates a wind tunnel; hence units will enjoy good cross ventilation, he adds.
In addition to the conventional balcony, which acts as an extension of the living room, each bedroom will have a “Juliet balcony”, says Lai. “During Covid, we noticed many people wanting to create a little garden at their balconies,” he says.
A brass-coloured mesh on the façade serves a dual function beyond aesthetics: as a privacy screen and shading device to cut the sun’s glare, according to Lai.
‘Creating a semi-Mohamed Sultan vibe’
What sets the development apart from the others in the Sophia Road neighbourhood is the 6,000 sq ft landscaped facilities deck on the rooftop. “We are assimilating a semi-Mohamed Sultan vibe here,” says landscape architect and director of Ecoplan Asia Thanapong Boonyasiriwat (Gong).
Before designing the landscape, Gong studied the surrounding neighbourhood “to check out the competition”, he says. He found a neighbourhood dotted with boutique developments that were so built-up that the mechanical and electrical services took up the entire rooftop, leaving little room for landscaping.
Gong decided to turn the rooftop into something “edgy”, with the vibrancy of a boutique luxury resort hotel. He divided the rooftop into different quarters: a quiet quarter for spa and wellness with a spa pool, another quarter for fitness with some outdoor gym equipment, a social quarter with a sunken lounge for people to gather in the evenings, and a dining and bar quarter, for people to entertain friends and family, with a capacity of 10 people.
Given the tertiary education institutions nearby, such as LaSalle College of The Arts, Nanyang Academy of Fine Arts (Nafa), School of the Arts (Sota) and Singapore Management University (SMU), and proximity to the Dhoby Ghaut MRT interchange station, Orchard Road malls and the CBD, Gong reckons the profile of the residents are likely to be the students attending the schools and young expatriate executives who want a prime address in the Sophia area.
“It’s ideal for those who want to entertain at home but do not have the space within their apartment to do so,” says Gong. “They can entertain their friends at the rooftop and hold parties there.”
‘Boutique-hotel feel’
With St Margaret’s Primary School nearby and Anglo-Chinese School (Junior) within a 1km range, DB2’s Leong does not rule out young families with just one or two children of school-going age. “The two- and three-bedroom units are ideal for small families,” he says.
Given the unit mix at Orchard Sophia, Leong expects to see buying interest from both investors and end-users. “Young couples will like the two-bedroom types,” he says. “Those who want a study area but do not wish to sacrifice one of the bedrooms can use the household shelter. It is ideal as a study, a pantry or even a helper’s room.”
The interior designers at Creative Mind Design also ensured that the interiors exude the boutique hotel feel. “We wanted to create a warm and hospitable feel from the moment you drive in and even as you walk along the walkway,” says the firm’s design director Alvin Tan. “We integrated our palette and materials to harmonise with the architecture.”
In keeping with contemporary interiors, the living room tiles are large porcelain tiles of matte finish. The kitchen cabinets also come with a built-in rack for spices and condiments. A polished backsplash and countertop made of sintered stone were selected for the kitchen for its durability, says Tan, and also “to provide an interesting contrast to the matte finish of the flooring”.
The developer is providing quality brands in terms of appliances and fittings, for instance, Smeg kitchen appliances, Bosh washer cum dryer, and Franke kitchen faucets and mixer. Bathrooms are fitted with Gessi shower sets and faucets, Hansgrohe accessories, Duravit water closets and Geberit flush plates.
The showflats of the two-bedroom unit and the three-bedroom dual-key unit are also designed to give homeowners ideas on how they can create storage spaces and work areas, notes Constance Tew, creative director at Creative Mind Design.
Tew found DB2 refreshing. “When I first met Dennis [Leong], he kept talking about how he wanted Orchard Sophia to be more akin to a boutique hotel; a place where residents would be proud to call home,” she relates. “The typical boutique developer usually wants to carve out small units, use cheap materials and sell out their project quickly.”
Focus on boutique, freehold projects
DB2 has been in the property development business since Leong founded the firm in 2006. He has focused mainly on freehold, boutique residential projects. Past projects include the freehold Siglap V with 114 apartments on the upper floors and retail units on the first level. Located in prime District 15 in the Siglap area, it was launched in 2010 and completed in 2013. In the Kovan area, DB2 launched the 164-unit, freehold, mixed-use development Promenade @ Pelikat on Pelikat Road in 2012. The project in District 19 was completed in 2015.
Boutique developments in the prime districts developed by DB2 include the 69-unit 10 Shelford, launched in 2011. The freehold project on Shelford Road in prime District 11 was fully sold and completed in 2014. The 84-unit, freehold Devonshire Residences was launched in 2011 and sold out. Located on Devonshire Road, it sits in prime District 9 and was completed in 2015.
According to Leong, absolute prices at Orchard Sophia will start from $1.23 million for a one-bedroom to $2.29 million for a three-bedroom unit. On a psf basis, prices will start from $2,750 psf.
“Orchard Sophia is attractive from a psf price perspective,” says Ismail Gafoor, CEO of PropNex. “Notably, with new launches of 99-year leasehold suburban projects in the Outside Central Region (OCR) priced from $2,000 psf, and even 99-year leasehold, city fringe or Rest of Central Region (RCR) projects going for $2,400 psf to $2,500 psf.”
According to Marcus Chu, CEO of ERA Singapore, the median price of condos transacted in District 9 in 1H2023 was $2,877 psf. “With Orchard Sophia starting from $2,750, we can expect keen interest from both homebuyers and investors,” he says.
“With the narrowing price gap between CCR and RCR new project launches, we can expect more astute homebuyers and investors to zoom in on CCR buys today,” adds Chu.
First new launch in the CCR in 2023
The last launch in the CCR was last November, namely the 72-unit, freehold Hill House on Institution Road, off River Valley in prime District 9, according to Huttons Data Analytics. To date, 17 units at Hill House have been sold at an average price of $3,003 psf, based on caveats lodged. Another project launched last year was the 38-unit Sophia Regency across the road from Orchard Sophia. Prices of the freehold development started from $2,850 psf. So far, no caveats have been recorded for the project.
“Orchard Sophia will be the first CCR launch in 2023,” says Mark Yip, CEO of Huttons Asia. The project is within District 9, a five-minute walk to the Dhoby Ghaut MRT interchange.
Yip reckons the palatable quantum and dual-key units for Orchard Sophia are likely to appeal to buyers who are end-users or investors. “Looking at the unit mix, the target market will likely be singles, families and investors,” he adds.
Targeting end-user, investor demand
Justin Quek, deputy CEO of OrangeTee, sees Orchard Sophia’s unique identity attracting Singaporeans and expatriates who prefer the intimacy of “boutique-style condo living”. “Professionals from the creative and education industry seem to be the target market given the arts and international schools in the vicinity,” he observes.
Quek also sees interest coming from first-time homebuyers, especially Singaporeans who want the flexibility of moving in or renting out the unit when the project is completed. Orchard Sophia is targeted for completion in 1Q2027.
According to PropNex’s Gafoor, the developers have taken their competition into consideration and have priced their units sensitively.
Orchard Sophia is previewing on the same weekend (July 29-30) as TMW Maxwell on Tras Street in the Tanjong Pagar neighbourhood.
“There’s little overlap as both Orchard Sophia and TMW Maxwell have their respective target audiences,” he says. “But investors with a budget of $1.5 million to about $2 million will now have a choice.”
More at: https://www.edgeprop.sg/property-news/db2-previews-orchard-sophia-2750-psf-absolute-prices-123-mil-229-mil