http://www.businesstimes.com.sg/arch...brand-20130628
Published June 28, 2013
Qingjian Realty wants to become a 'local brand'
Chinese developer focusing on mass market residential projects in S'pore
By Mindy Tan
WHILE its parent company is known for landmark buildings including the 2008 Olympic Sailing Centre and Liuting International Airport in China, Singapore-based Qingjian Realty is focusing on mass market residential projects in Singapore.
"We want to establish ourselves like a 'local brand' in Singapore, and we feel that executive condominiums (ECs) and mass market condominiums is the best way to familiarise locals with our brand," said Li Jun, general manager of Qingjian Realty (South Pacific) Group.
The group, which entered the Singapore market in 1999 as a construction company, has since launched and developed a range of developments including Natura Loft, a HDB design, build, and sell scheme in Bishan, River Isles, Nin Residence, and Waterbay executive condominium (EC).
Although it has developed its share of industrial projects through joint ventures, Qingjian said it is likely to focus on residential mass market (including ECs) projects. However, it is not averse to larger projects like mixed developments, provided the right joint venture partner comes along.
Indeed, market prospects still look bright despite talk that the EC market could be in for a shake-up.
"When we launched our first EC, the income ceiling for eligible homebuyers was $10,000 and now it's $12,000. Although the income ceiling has been raised, the price range for ECs is still relatively stable. This is why we see the EC market as being quite stable and healthy," said Mr Li.
The company is also taking its cue from the government. Based on the list of confirmed residential sites being rolled out in the government land sales programme over the next six months, five of the 10 residential sites are for ECs.
"No matter what the changes, the government must take into consideration the class of buyers ECs were originally designed for - they may not be eligible to buy a HDB flat, but are unable to buy a private home."
In that vein, Qingjian is rolling out the first EC to subscribe to the measures announced in January affecting the sale of dual-key units and private enclosed spaces at ECs.
Under the new rules, EC unit sizes are capped at 160 square metres or 1,722 square feet. In addition, sale of dual-key units are restricted to multi-generational families only.
The 512-unit Ecopolitan in Punggol features 8 blocks of 16 storeys, and offers a mix of three-bedroom, four bedroom, and five-bedroom configurations. A majority of the units are three-bedrooms.
The smallest, a three-bedroom apartment, ranges from 893 to 1,055 sq ft, while the largest, a five-bedroom CoSpace ranges from about 1,518-1,711 sq ft. The 893 sq ft three-bedroom unit and 1,141 sq ft four-bedroom unit will cost approximately $700,000 and $900,000 respectively.
The concept of CoSpace, which is featured in Ecopolitan, is part of Qingjian's "defining feature" said Mr Li.
By giving homebuyers the option to combine both the utility and study rooms, the developer is giving them an option to customise the living area.
CoSpace will be offered in 208 units.
Separately, Ecopolitan will be the first residential development in Singapore to offer Home LiveCam service. Provided in partnership with SingTel, the wireless broadband camera will be installed in the living or dining room to allow home owners to monitor activities of children or the elderly at home.
Applications for eligible EC buyers are open from June 28 to July 7. Bookings will open from August 3.