The Orchard Residences (D10, 99 Years Leasehold, Orchard Turn Developments Pte Ltd)

Singapore Companies
Published November 1, 2006

Work begins on Orchard Road's newest building
Developers eye record residential prices, rentals


By UMA SHANKARI

WORK started yesterday on Orchard Road's newest and tallest building - the $2 billion Orchard Turn development above Orchard MRT station.

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New landmark: Orchard Turn is the first residential and retail project in about 10 years on Orchard Road

The 56-storey residential and retail project - the first in about a decade on Singapore's prime shopping street - will tower over its neighbours at 218 m.

It will have one million sq ft of retail space to be completed by end-2008, and 177 luxury homes scheduled for completion at end-2009, the development partners said yesterday.

Orchard Turn is a joint venture (JV) between CapitaLand, Singapore's biggest developer, and Hong Kong's Sun Hung Kai Properties.

The chief executive of JV company Orchard Turn Developments, Soon Su Lin, said the 'super-luxury' apartments will be launched in the first quarter of next year.

And she hopes they will smash records. 'We hope to set benchmark prices, just like we're setting benchmarks with both our architecture and our design,' she said.

The current record price for a luxury apartment in Singapore is $3,000 per sq ft for a unit in City Developments' St Regis Residences.

Ms Soon did not say at what price the Orchard Turn apartments will be launched. 'I think . . . we'll take the cue from the market,' she said. 'At the moment, the residential market is doing very well, especially at the luxury end. Prices are still rising and demand is still very strong, both from locals and foreigners. And at our location, I think we'll be able to command a good price.' There will be a range of apartment sizes, including penthouses and 'garden' units.

As for the retail component, Ms Soon hopes Orchard Turn's eight storey mall will attract 100,000 visitors a day. Just as with the residential units, she expects the retail space to command the best prices in the market. 'Based on our location, we will already be able to get rents that are being paid on the market for prime retail space,' she said. The average rent in Orchard Road is now $39 per sq ft per month, up 13.2 per cent from last year, according to a recent report from Cushman & Wakefield.

Orchard Turn will have more than 450 shops and restaurants, including top brands not now in Singapore, Ms Soon said.

Also, retailers looking for a chance to do something different will have that opportunity as the building facade itself will be used to display brands, she added.

The JV partners paid $1.38 billion for their plot earlier this year. Building costs will take their all-in spending to about $2 billion, Ms Soon said.

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Originally Posted by mr funny

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I see that the trend for oval shaped condos is coming. These condos: Arc at Draycott, Newton One by Lippo, the new Kim Seng Road development by Lippo, and now this one, are all oval shaped. No more sharp jagged edges.

The future is smooth and oval!

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Originally Posted by mr funny

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Wow Thanks for the info Bro!

No problem man! Here's more:

Singapore Companies
Published February 6, 2007

Orchard Turn condo to launch soon

Many foreigners indicating interest before March/April opening

By UMA SHANKARI


SINGAPORE developer CapitaLand and Hong Kong's Sun Hung Kai Properties plan to launch The Orchard Residences - their upcoming residential project on the prime Orchard Turn site above Orchard MRT - sometime in March or April, but the project has already attracted a lot of interest, the developers said yesterday.


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Super-luxury development: Units in The Orchard Residences are set to offer panoramic views of S'pore


'Our project has drawn a lot of interest and attention,' said Soon Su Lin, chief executive of joint venture company Orchard Turn Developments. 'We have received a lot of interest from foreigners, even though we have not even started any advertising.'

Because of this, the 99-year leasehold, 175-unit project will be launched first in Singapore, said Ms Soon. 'Given that the foreigners who are interested are fully aware of our project, we are likely to launch it in Singapore,' she said. 'As for later launches, we may consider taking it overseas if we need to.'

Sun Hung Kai Properties' executive director Victor Lai echoed her, saying that particulars of interested buyers from Hong Kong have already been passed on to the Singaporean side, which will then contact them when the project is launched.

Ms Soon said that there has been interest from private funds to acquire large chunks of the project, but the developer has instead decided to sell the apartments through a regular launch.

While Ms Soon declined to say what prices the apartments will go for, The Orchard Residences has been dubbed 'super-luxury', and CapitaLand Residential Singapore's chief executive Patricia Chia recently told reporters that average prices in the 'super-luxury' segment could rise to $3,000 per square foot (psf) by the end of this year.

The Orchard Residences is scheduled for completion in late-2009, and Ms Soon said that the recent price hike and tightened supply of ready-mixed concrete will not affect the completion date. The price of ready-mixed concrete has shot up by about 50 per cent here since Indonesia banned the export of sand last month.

Most of the units in the 218-metre, 56-storey The Orchard Residences will be three and four-bedroom apartments ranging from 1,800 sq ft to 2,900 sq ft. The development will also have seven 'garden units' and penthouses ranging from 4,300 sq ft to 6,500 sq ft. The building will be the district's tallest when completed and apartments will offer unobstructed panoramic views of Singapore, Ms Soon said. Residents will also have exclusive access to a 75,000 sq ft high-rise garden.

Feb 6, 2007

Orchard Turn homes may be sold next month

By Joyce Teo, Property Correspondent


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INDICATIVE PRICING: Average prices at The Orchard Residences could range from $2,500 psf to $2,600 psf, says Mr Ku, Savills Singapore's director of marketing and business development. But industry talk is that some units on the higher floors will probably be priced at above $3,000 psf.


THE 175 luxury apartments at the Orchard Turn site may be launched as early as next month, with industry talk that some units will probably be priced at above $3,000 per sq ft (psf).

With surrounding residential projects capped at 36 storeys, units on the higher floors of the new development could fetch $3,000 psf and above, market watchers said.

Average prices could range between $2,500 psf and $2,600 psf, said Savills Singapore's director of marketing and business development, Mr Ku Swee Yong.

Many in the industry are eyeing the 99-year leasehold project - called The Orchard Residences - as it is likely to set benchmark prices for the area.

The 56-storey block will be completed in late 2009 and is part of the bigger Orchard Turn development, which includes a mall.

Orchard Residences has three- and four-bedroom apartments ranging from 1,800 sq ft to 2,800 sq ft, and seven special units ranging from 4,200 sq ft to 5,000 sq ft.

All have private lift access. It also boasts a 75,000 sq ft garden on level nine.

The project is being developed by Orchard Turn Developments, the joint venture vehicle between CapitaLand and its Hong Kong partner, Sun Hung Kai Properties.

Orchard Turn Developments said yesterday the launch could be as early as next month or in April.

Its chief executive officer, Ms Soon Su Lin, said it may not need to launch the project overseas because of strong indicative demand from people in Singapore.

Meanwhile, CapitaLand Residential Singapore's chief executive, Ms Patricia Chia, said the firm will review construction contracts on a case-by-case basis because of Indonesia's ban on sand exports.

'We are certainly very sympathetic with the contractors' position and we will consider ex-gratia payments when the case warrants it,' she said yesterday.

For an Orchard landmark, shouldn't the building be more... outrageous looking? :)

I agree! Even Tangs looks more striking than this 'landmark'. :D

Location: Orchard Turn (D 9)
Tenure: 99-year leasehold
Total Units: 175 (56 storey)
Estimated TOP: late 2009
Unit Types:
3/4 BR from 1,800 to 2,900 sqft
"Garden units" and penthouse from 4,300 to 6,500 sqft
Price: expected $3000 psf

Several units of CapitaLand's Orchard Residences sold at S$4,000 psf

By Loh Kim Chin, Channel NewsAsia | Posted: 21 March 2007 2117 hrs


SINGAPORE : Prices for the high-end luxury residential sector continued to climb to new highs.

According to developer CapitaLand, several units of its Orchard Residences development at Orchard Turn had been sold at more than S$4,000 per square foot.

The 56-storey development is being built by CapitaLand and Hong Kong's Sun Hung Kai Properties.

Units above the 32nd floor attained prices of more than S$3,200 per square foot.

CapitaLand said the buyers were established high net worth individuals in Singapore and the region.

About 50 percent of the 175-unit development is being sold in the first phase on a by-invitation basis.

The development is targeted for completion in late 2009. - CNA /ls

IT IS ALL WAYANG BULLSHIT. INSIDERS BOUGHT AT $4000PSF TO BOOST THE PRICE.

SEE THE FLIPPING ADS SOON!

Dow is waaaay up! Tomorrow STI cheong, property also cheong, everything CHEONG!

Published March 22, 2007

The Orchard Residences sets record price

Singaporean pays over $4,080 psf for 53rd level penthouse

By KALPANA RASHIWALA


(SINGAPORE) A Singaporean businessman is said to have paid a benchmark price of over $4,080 per square foot, working out to over $17 million, for a 53rd level penthouse at The Orchard Residences earlier this week. This beats the previous record of $3,450 psf set in December last year for a penthouse at the Marina Bay Residences, which also has a 99-year leasehold tenure.


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Cut above the rest: Prices for the Orchard Turn project cross the $4,000 psf mark not just for the penthouse deal but also for several other apartments on the upper floors


In the case of Orchard Residences, which will rise above Orchard MRT Station, the $4,000 psf mark has been crossed not just for the penthouse deal, but also for several other apartments on the upper floors.

'We're extremely pleased to have achieved a record price of over $4,000 psf for several units at The Orchard Residences in Singapore. Units above the 30th floor have also attained prices of over $3,200 psf,' said CapitaLand Group's president and chief executive officer Liew Mun Leong. The property company is developing the project jointly with Hong Kong's Sun Hung Kai Properties.

The duo is understood to have sold over 40 units in the development since Monday to a mix of Singaporean, Middle Eastern, European and Asian buyers. About half of the 175 units in the condo, spread across low, mid and high floors, are being released under the initial phase, which is for sale by invitation.

The lowest price achieved in the condo is said to be close to $2,600 psf.

Sun Hung Kai Properties vice-chairman and managing director Raymond Kwok said that 'more than 50 per cent of the units sold under Phase 1 are through internal referrals from business associates and partners'.

The developers seem to have screened potential buyers to give preference to genuine home buyers and investors rather than property speculators.

'We have received very strong response from Singapore, Asia and international genuine home buyers who wish to stay in the most prime spot on Orchard Road and have purchased The Orchard Residences with a view for long-term investment,' Mr Kwok said.

Meanwhile, Keppel Corp yesterday revealed that the super penthouse at its upcoming Reflections at Keppel Bay condo launch will be 13,300 sq ft in size, spread across the top three levels of the 41-storey project. The project is slated for release early next month.

And over in District 11, UOL has sold 40 per cent of its 180-unit condo, Pavilion 11, at Minbu Road.

It began previewing the freehold project last weekend and has achieved an average price of about $900 psf.

March 22, 2007

Orchard Residences condo sets $4,000 psf record

By Fiona Chan


THE price that home buyers are willing to pay for a prestigious Orchard Road address has hit a dazzling new high.

Some well-heeled home buyers have just forked out more than $4,000 per sq ft (psf) for 'several units' at Orchard Residences, developer CapitaLand said yesterday.

As the smallest unit in the development is 1,800 sq ft, these homes went for at least $7.2 million apiece.

Orchard Residences - due for completion in late 2009 - now holds the record for the most expensive home in Singapore per sq ft, easily beating the previous high of $3,450 psf for a penthouse at Marina Bay Residences set last December.

CapitaLand said both local and foreign buyers were among those who bought these ultra-expensive apartments at the upcoming condominium at Orchard Turn, above Orchard MRT Station.

Already, more than 40 of the project's 175 units have been taken up, well before its official launch.

But in a strange twist, the priciest units were located on the lower floors. Above the 30th floor, the highest price achieved was only about $3,200 psf, said CapitaLand. According to one consultant, it could be becaue the units are suites or limited-edition apartments.

CapitaLand is developing the 56-storey, 99-year leasehold condo jointly with Hong Kong's Sun Hung Kai Properties. They plan to release another 40 or so units in its first phase, for sale by invitation only.

The remaining units, along with the larger penthouse and garden units, will be put on the market at a later date.

Property consultants said the new benchmark price is likely to boost prices along Orchard Road, but whether other developments can reach the same or even higher prices remains to be seen.

'Orchard Turn is probably the most premium and most photographed corner of Orchard Road,' said Mr Joseph Tan, residential director at CB Richard Ellis.

He added that the high prices 'are a bit surprising, but not entirely unexpected. In London, it costs a few thousand pounds (psf) for premium units around Hyde Park'.

But market experts said the average price for Orchard Residences is likely to be considerably lower than the benchmark $4,000 psf prices.

'A few deals don't make the market,' said Mr Nicholas Mak, director of research and consultancy at Knight Frank.

'It's more accurate to look at the average price of the development.'

[email protected]

This saturday's classifieds will be very very thick :D

not only orchard residences ads, but every single sub sale project ads.

April 03, 2007 00:38 ET (04:38 GMT)

Copyright (c) 2007 Dow Jones & Company, Inc.

DJ CapitaLand: Orchard Residences Avg Selling Price S$3,213 PSF


SINGAPORE (Dow Jones)--Singapore's CapitaLand Ltd. (C31.SG) Tuesday said the 98 units in phase one of its luxury Orchard Residences condominium have been sold at an average S$3,213 per square foot.

The average for units below the 30th floor was S$2,820 psf and units above the 30th floor achieved an average of S$3,705 psf, the company said in a statement.

Last month CapitaLand said several high-level units in the residential tower had sold for over S$4,000 psf, a record for private property in Singapore.

-By Singapore Bureau; Dow Jones Newswires; 65-6415-4150; [email protected]

April 3, 2007, 9.35 pm (Singapore time)

Orchard Turn condo averages record $3,213 psf


THE first phase of apartments at Orchard Residences has been fully sold at a record average price.

The 98 units fetched an average of $3,213 per sq ft (psf), joint developers CapitaLand and Sun Hung Kai Properties said on Tuesday.

Average prices for units above the 30th floor of the 56-storey Orchard Turn tower soared to $3,705 psf. 'Several high-level units' also fetched more than $4,000 psf, setting price records for Singapore homes.

Units on the lower levels averaged $2,820 psf.

But this is still higher than the next priciest project, St Regis Residences in Cuscaden Road. Average prices for St Regis are believed to be between $2,700 and $2,800 psf.

The remaining 77 units at Orchard Residences will be released 'in phases to meet the rising demand', the developers said.

Most apartments at Orchard Residences range in size from 1,800 to 2,900 sq ft.

But the unsold units include the bigger penthouse and garden apartments, which are 4,300 to 6,500 sq ft in size.

Some of the remaining units will be offered to invited buyers at the official launch, which is expected to be held next month when the showflat is ready.

Buyers so far have been 'business partners, associates and referrals', CapitaLand said, including 'many well-heeled Singaporean, Asian and international high-net- worth home buyers and investors'.

CapitaLand is also expected to launch the freehold Seafront @ Meyer on Friday, with buyers already queuing for the project's 327 units.

It was reported last month that prices could range from $1,400 to more than $1,800 psf, with penthouse units going for as much as $2,200 psf.

But market watchers said that was 'optimistic' for the area.

'There is a possibility that we could see such prices, but probably only in several months' time, assuming a very optimistic projection,' said Mr Nicholas Mak, director of research and consultancy at Knight Frank.

He added that 'transacted prices in this area have not really reached this level yet', aside from GuocoLand's The View @ Meyer, also in Meyer Road.

GuocoLand said in January that 35 of the development's 45 units had been sold. Prices are between $1,500 and $1,800 psf, but the condo still has unsold units.

Other condos in Meyer Road and nearby Amber Road are hitting a maximum price of about $1,000 psf.

Meanwhile, The Solitaire in Balmoral Road has also set price records. All units were sold within a week at an average of more than $2,000 psf.

The 59-unit project also achieved a high price of more than $2,300 psf, a benchmark for the area, developer City Developments Ltd (CDL) said on Tuesday.

Prices ranged from $2.3 million for a two-bedroom unit to $7.4 million for a penthouse, CDL added. About 40 per cent of buyers were foreigners.

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Originally Posted by Unregistered

IT IS ALL WAYANG BULLSHIT. INSIDERS BOUGHT AT $4000PSF TO BOOST THE PRICE.

SEE THE FLIPPING ADS SOON!

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Insiders?

Why not go down to Suntec and attend the City Scape Asia 2007 conference. You may find many insiders (i.e. investors and funds) there.

www.cityscapeasia.com
http://www.cityscapeasia.com/Images/...yscapeasia.png

What insiders?

Now the Indonesians, Hongkongers, Malaysians, Australians, Thais, etc. are fighting with Singaporeans for properties.

Even if there are insiders (which I do not believe there is any), they will lose to these foreigners.

Published April 12, 2007

Thai tycoon buys 4 floors at Orchard Residences

Charoen pays $135m or about $3,600 psf, targets more acquisitions

By KALPANA RASHIWALA
AND SIOW LI SEN


THAI tycoon Charoen Sirivadhanabhakdi, who recently purchased 47 of the total 48 apartments at Hoi Hup's Suites @ Cairnhill for $205 million or about $2,550 per square foot (psf), has also bought four floors (with 16 apartments) at the Orchard Residences condo for $135 million or around $3,600 psf.

And the tycoon, who also purchased the Intercontinental Hotel at Bugis Junction for about $250 million last year, is on the lookout for more property acquisitions in Singapore, particularly hospitality-related assets like hotels and serviced apartments.

'Interest in the hospitality sector is quite buoyant because of the integrated resorts coming up. The problem is there are no sellers,' Chia Kwok Ping, president of Mr Charoen's TCC Land International, which sources property investments for the tycoon, told BT yesterday.

He added that the group was also open to purchasing more apartments or commercial buildings if the opportunities presented themselves.

'We're pretty flexible. The key is, we have the funds. And that's also a strength of ours,' he said.

'We are confident of the economy here and prepared to put more money in this place,' said Mr Chia.

Mr Charoen is also looking at exit strategies, around three to five years down the road, particularly for the hospitality assets he has been buying. A hospitality real estate investment trust (Reit) could be an option, Mr Chia reckons.

Besides the Intercontinental in Singapore, the Thai tycoon also bought Westin Kuala Lumpur, Sol Melia in Hanoi, a hotel in Laos, two hotels in Kunming, China, and a hotel in Kensington, London - all last year.

In all, he inked deals totalling about US$500 million for property acquisitions outside Thailand in 2006.

Mr Charoen, who controls TCC Group and Singapore-listed Thai Beverage, made the latest acquisition of the 47 apartments at Suites @ Cairnhill through his privately held vehicle Pacific Coast Assets.

Mr Chia said that the 48th unit was bought by an unrelated party. As a foreigner, Mr Charoen is not allowed to buy an entire block of apartments, Mr Chia explained.

'We will rent the apartments after they are built, and be opportunistic about releasing them for sale at the right time.

'We're quite bullish about the market and think areas like Cairnhill can achieve $3,000 psf soon,' Mr Chia said.

As for the 16 apartments that Mr Charoen has bought on the upper floors of the Orchard Residences above Orchard MRT Station, 'we'll probably keep a couple of units for own use, and rent out the rest for investment purposes', said Mr Chia.

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Originally Posted by Property Cashier

What insiders?

Now the Indonesians, Hongkongers, Malaysians, Australians, Thais, etc. are fighting with Singaporeans for properties.

Even if there are insiders (which I do not believe there is any), they will lose to these foreigners.

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Your nationality order may needs to change. The Thai is getting more aggressive.

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Originally Posted by Observer

Your nationality order may needs to change. The Thai is getting more aggressive.

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Help! SOS!
The aliens are all over us!

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Originally Posted by Unregistered

Help! SOS!
The aliens are all over us!

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Go get Minister Mah to help?

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Originally Posted by mr funny

Published April 12, 2007

Thai tycoon buys 4 floors at Orchard Residences

Charoen pays $135m or about $3,600 psf, targets more acquisitions

By KALPANA RASHIWALA
AND SIOW LI SEN


THAI tycoon Charoen Sirivadhanabhakdi, who recently purchased 47 of the total 48 apartments at Hoi Hup's Suites @ Cairnhill for $205 million or about $2,550 per square foot (psf), has also bought four floors (with 16 apartments) at the Orchard Residences condo for $135 million or around $3,600 psf ............ bought on the upper floors of the Orchard Residences above Orchard MRT Station, 'we'll probably keep a couple of units for own use, and rent out the rest for investment purposes', said Mr Chia.

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So ..... when will the next record-breaking happen? 1 month from now? 1 week from now?

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Originally Posted by Curious

So ..... when will the next record-breaking happen? 1 month from now? 1 week from now?

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$5,000 psf, May.

Anyway, latest about The Orchard Residences.
More than half sold. Average price at $3,213 psf.
Buyers are mostly from Indonesia, Japan, India and Hong Kong.

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Originally Posted by Watcher

$5,000 psf, May.

Anyway, latest about The Orchard Residences.
More than half sold. Average price at $3,213 psf.
Buyers are mostly from Indonesia, Japan, India and Hong Kong.

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Big Boyz. How come no Euro or Americans buying?

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Originally Posted by Unregistered

Big Boyz. How come no Euro or Americans buying?

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Also have. Thai too.

So how many units left now?

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Originally Posted by Curious

So how many units left now?

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Any latest news on the uptake of this project?