Parkview Eclat (D10, Freehold, Chyau Fu Group)
Singapore
Published December 6, 2006
Chyau Fwu to build luxury homes in Grange Road
By UMA SHANKARI
CHYAU Fwu Development, which is jointly headquartered in Hong Kong and Singapore, yesterday announced plans to enter the residential property market in Singapore with a new luxury development in Grange Road.
Chyau Fwu will be building 'no more than 40' units on the 59,000 sq ft site it bought more than three months ago for about $135 million. The site has a plot ratio of 2.1, which brings the price to $1,100 per sq ft per plot ratio (psf ppr).
The site, which is at present occupied by six bungalows, was acquired through private treaty, said Eddie Chow, a senior executive with the company.
The number of units planned is small as the development will contain large luxury apartments ranging from 3,000 sq ft to a super-penthouse at 10,000 sq ft, he said. The project will be launched in the first quarter of 2007, and is expected to fetch prices of about $2,000 psf, market watchers said.
Construction is expected to cost about $500-600 psf, bringing Chyau Fwu's break-even cost to $1,600-1,700 psf.
'We believe that the Singapore market is ready for the kind of building we are planning, and, of course, this property will also have tremendous appeal to wealthy international property buyers,' Mr Chow said.
'Chyau Fwu has been looking for an opportunity to enter the residential market for some time and we have now identified a location that provides us with a rare opportunity to develop a building with unobstructed views, unparallelled spaciousness, and a unique design.'
Design will no doubt play a large part in the new project. Chyau Fwu is the company behind the iconic Art Deco development Parkview Square. For this latest project, the design will be unveiled in the new year, said Mr Chow.
Renowned United States-based architect James Adams, who designed Parkview Square, has been commissioned to oversee the new development.
$3,000 psf price seen at Parkview Eclat
Property
Published February 13, 2007
$3,000 psf price seen at Parkview Eclat
By ARTHUR SIM
CHYAU Fwu Group has unveiled plans for its upcoming super-luxury condominium on Grange Road, called Parkview Eclat, with prices expected to be around $3,000 per square foot (psf).
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Unit sizes at the upcoming Parkview Eclat (above) start at 3,000 sq ft with the penthouse topping 10,000 sq ft
Construction costs will be $500-$600 psf for Chyau Fwu, which owns the Art Deco-inspired office building Parkview Square at Bugis. This is almost double the industry average construction costs of $300 psf.
Eddie Chow, a senior executive at Chyau Fwu, said that none of the units has yet been sold, as a sales licence has not yet been received.
Prices have not been confirmed either, but Mr Chow said that Chyau Fwu was comfortable with the projected $3,000 psf price for super-luxury condominiums, adding that the group 'is not in a hurry to sell'.
The most expensive feature in each of the 35 'limited edition' units will be the private 3m by 8m pool on the balcony.
Unit sizes start at 3,000 square feet with the penthouse topping 10,000 sq ft.
As with Parkview Square, Parkview Eclat is designed by James Adams, best known for his designs for Forum Casino at Ceasars Palace, MGM Grand Casino in Detroit and Galaxy Casino and Resort in Macau. However, being a residential development, Parkview Eclat will be more subdued.
Mr Adams said: 'Respect for subtlety is important.'
On pricing, recent caveats lodged reveal that average prices for super-luxury developments are still below $3,000 psf. St Regis Residences did complete another sale at $3,050 psf in December 2006 but the average price for units in that month was $2,672 psf.
Vincent Chong, director (residential) at Colliers International, said: 'With the latest launch of The Beaufort at Nassim already hitting $3,200 psf, we feel that it is possible for the good units in Parkview Eclat to achieve $3,000 psf.'
Vivian Sze, assistant general manager of HKR International, developer of Beaufort at Nassim, says it has already sold 12 units and the average selling price is $2,600-$2,700 psf.
Savills Singapore director of marketing and business development Ku Swee Yong believes Parkview Eclat may not achieve an average launch price of $3,000 psf, but reckons instead that the upcoming Orchard Turn could - because 'they already have enough people who want to buy'.
Also on Orchard Turn, Tay Huey Ying, director (research and consultancy) at Colliers, said: 'If the project is launched while market optimism is still high and buying frenzy is still very much alive, the average launch price for Orchard Turn could possibly reach $3,000 psf and the penthouses or units on the high floors could even hit $3,500 psf and above.'
HK-based developer aims for new price high
13 February 07 The Straits Times
by Joyce Teo, Property Correspondent
HK-based developer aims for new price high
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AS PROPERTY developers continue to set new benchmarks in Singapore's red-hot luxury market, niche Hong Kong-based developer Chyau Fwu Group is looking to set another.
It aims to sell the 10,000 sq ft double-storey penthouse at its luxury residential development Parkview Eclat in Grange Road for up to $4,000 per sq ft (psf).
The penthouse will have an outdoor swimming pool, a spiral staircase as well as two garden terraces - on top of other luxury features and fittings.
While prices have not been fixed, the group aims to sell the other 34 relatively large units for an average of $3,000 psf, said its senior executive, Mr Eddie Chow.
Property consultants have projected that prices in Singapore's luxury homes market could reach or cross $4,000 psf, but only by the end of the decade.
Chyau Fwu expects to launch this project in Indonesia in March, before taking it to Singapore and Hong Kong.
Singapore's luxury property market only started to surge in the past six months, said Mr Chow, who added: 'There's still room to grow.'
He said the company's optimism is driven by Singapore's strong economic growth, the influx of wealth and more foreign firms setting up base here.
At Parkview Eclat, all units will have unobstructed views and access to a concierge service, he said. They will also have features such as an emergency button that alerts the security downstairs.
'These would be the details that the super rich look forward to,' said Mr Chow.
The 21-storey freehold project has 32 three- to four-bedroom units ranging from 3,000 sq ft to 3,400 sq ft.
Another two are duplex units at 5,300 sq ft.
All 35 units feature an infinity edge spa pool in 3m by 8m balconies and a private elevator lobby.
Mr Chow said the firm may spend between $500 psf and $600 psf on construction, including $8 million to $9 million for the building's stone cladding - unusual for a residential project here.
The art deco building is designed by United States-based designer James Adams, who also created Parkview Square, an art deco office building in the Bugis area.
Chyau Fwu has achieved rents of $8 psf for Parkview Square, up from $7 psf at the end of last year.
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
Location: Grange Road (D 9)
Tenure: Freehold
Estimated TOP: 2Q 2009
Land Size: 58461sqft
Total Units: 25
Unit Types: 3-5 BR (3000-5000sqft)
Price: expected average $3200psf
Remarks: Private pool, private lift, high-end finishes
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
Saw local newspaper, parkview eclat made a private launch Today. Agent used is CBRE
Just release the web at : http://www.parkvieweclat.com
Still dont know the sale price.
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
They are very big units, aren't they?
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
I think the showflat is available rightnow. I even heard from someone describing it as the Best he ever saw.:scared-5:
Anybody here has seen the Showunit??:confused:
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
Heard they are very selective about the people they let it.
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
Quote:
Originally Posted by Unregistered
Heard they are very selective about the people they let it.
Wew!!:eek: Thats why some people say developers treat foreign investors better than Local investors.
I want to see the showflat but afraid they will reject our visit.:ashamed1:
I did saw an agent reject an old man visitor before. She just said "Sorry by appointment only" and then just shut the showflat door. Sad to see that.:beats-me-man: Who knows if that old man is a tycoon. Then she just missed a potential block buyer.:D
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
The old man was driving a Toyota Vios and in slippers. I know it is bad but we live in a society where image counts. If he had had gone in a Lambo he would have been let in wearing shorts ;)
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
Quote:
Originally Posted by Unregistered
The old man was driving a Toyota Vios and in slippers. I know it is bad but we live in a society where image counts. If he had had gone in a Lambo he would have been let in wearing shorts ;)
Sad but true.
Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)
May 22, 2007
Grange Rd condo tops $4,000 psf benchmark
By Fiona Chan
A SMALL condominium on Grange Road has broken the $4,000 per sq ft (psf) price barrier at one of its units.
This makes Parkview Eclat only the second development in Singapore to reach these heights, after CapitaLand's high-profile Orchard Residences at Orchard Turn.
The remaining units that have been sold so far fetched lower prices, bringing the 35-unit project's average price to date to about $3,000 psf.
Developer Chyau Fwu Group sold one four-bedroom apartment over the weekend for 'almost $4,200 psf', it said yesterday.
The 16th-floor unit has an area of about 3,300 sq ft, taking the total price close to $13 million, Chyau Fwu senior executive Eddie Chow told The Straits Times.
Asking prices have risen by about 20 per cent since Parkview Eclat was first marketed six weeks ago - 'in line with the market', said Mr Chow.
Eighty to 90 per cent of buyers so far are foreigners, living either overseas or in Singapore. Among them are buyers from Indonesia, Hong Kong and Japan.
At least one buyer has purchased more than one unit, added Mr Chow.
Chyau Fwu is holding back the 10,000 sq ft super penthouse - and hopes to auction it off later at 'more than $5,000 psf', he said.
Another two duplex units, at 5,000 sq ft each, have price tags of nearly $5,000 psf.
Meanwhile, another luxury development in Leonie Hill Road is going down the auction route next month.
Three of the units on the top floors of Leonie Parc View will go under the hammer on June 8, developer Soilbuild Group Holdings said yesterday.
One is a 6,975 sq ft 'sky villa', while the other two are penthouses, of 2,906 sq ft and 3,003 sq ft.
The auction will be conducted by Colliers International and Christie's Great Estates exclusive affiliate Ken Jacobs, which in April successfully auctioned off 12 units of Botanika on Holland Road.
Colliers said yesterday that it expects the Leonie Parc View units to fetch between $3,200 psf and $3,600 psf, which will be a record for the Leonie Hill area.
So far, 18 of the condominium's 44 units have been sold at prices ranging from $2,600 psf to $3,000 psf, Soilbuild said.
Leonie Parc View will be the second uncompleted condominium to have units sold at an international auction, after Botanika.
Another developer, SC Global, has also said it will sell its last BLVD penthouse via auction at a later date.