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Thread: Klimt Cairnhill (D9, Freehold, Low Keng Huat/KOP)

  1. #1
    Join Date
    Oct 2011

    Default Klimt Cairnhill (D9, Freehold, Low Keng Huat/KOP)

    Low Keng Huat to launch Klimt Cairnhill at prices from $3,532 psf

    By Cecilia Chow

    August 27, 2021

    Showflat of the two-bedroom prime unit designed like a bachelor pad by Roy Teo of Kri:eit Associates

    SINGAPORE (EDGEPROP) - Singapore-listed construction and property development company Low Keng Huat is launching its maiden luxury condo Klimt Cairnhill on August 28. The 138-unit luxury project is a redevelopment of the former Cairnhill Mansions, which Low Keng Huat had purchased en bloc for $362 million in February 2018. What is little known is that when Low Keng Huat purchased Cairnhill Mansions en bloc, the original intention was to redevelop the site into “The Ritz-Carlton Residences 2”. This is because the plot abuts The Ritz-Carlton Residences’ site at 65 Cairnhill Road and could potentially be interlinked.

    Low Keng Huat approached KOP Properties, the developer of the luxury 58-unit The Ritz-Carlton Residences. “We explored how we could amalgamate the two sites but unfortunately, it couldn’t happen because of the technical and legal issues involved,” says Alvin Teo, executive director of Low Keng Huat who joined the firm in April this year from Sun Venture, where he was the former head of real estate. “So the idea was dropped.”

    As KOP Properties had been “very involved” in the initial discussions on the various options, it was enlisted as a consultant for the redevelopment of Cairnhill Mansion. Further cementing the relationship, Low Keng Huat took a 40% stake in Dalvey Breeze Development, the developer of Dalvey Haus, a 27-unit freehold condominium at Dalvey Road (the former Villa D’Estes). Singapore-listed KOP owns the remaining 60% in Dalvey Breeze Development. Low Keng Huat is also the contractor for Dalvey Haus and Klimt Cairnhill, which are scheduled for completion in 2024 and 2025 respectively.

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    The architect, DP Architects, came up with a curvilinear design, with a powder-coated, spray-painted façade and gold elements for Klimt Cairnhill

    Artist's impression of the bungalow at 67 Cairnhill Road, which will be conserved and restored to its former glory, and used as Klimt Cairnhill's residents' clubhouse

  2. #2
    Join Date
    Aug 2020

    Default Klimt Cairnhill relaunches as Chinese buyers return to Singapore’s luxury condo marke

    Klimt Cairnhill relaunches as Chinese buyers return to Singapore’s luxury condo market

    February 3, 2023

    Since reopening the sales gallery of Klimt Cairnhill on Jan 3 — after a six-week closure that saw all three showflats renovated — Low Keng Huat, the property developer of the 138-unit luxury condominium on Cairnhill Road, has sold 18 units. This brings the tally of units sold to 25 units (28.4%) out of 88 units released to date. The average price achieved is $4,061 psf as of Jan 31.

    Alvin Teo, executive director of Low Keng Huat, says Singaporeans made up 25% of the buyers, with permanent residents accounting for another 10%. Another 25% are foreign buyers from Southeast Asia, namely Indonesia, Cambodia, Myanmar and Vietnam.

    However, it was the Chinese nationals who drove sales at Klimt Cairnhill since the start of the year. They accounted for 40% of the buyers, says Teo. There has been a resurgence in buying interest from Chinese homebuyers since travel restrictions were lifted in China on Jan 8, after a three-year Covid-19 lockdown.

    “Many of these Chinese buyers are new to Singapore,” says Dominic Lee, PropNex’s head of the luxury team. “They want large units, freehold tenure and a prime district address. There is very little new stock of such units available today. That is why many of the large, four-bedroom units at Klimt Cairnhill were taken up by the Chinese buyers.”

    Since Covid-19, demand for large units has increased. When Klimt Cairnhill previewed in August 2021, only the large units — the three- and four-bedroom apartments and penthouses — were released for sale.

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  3. #3
    Join Date
    Aug 2020

    Default Re: Klimt Cairnhill relaunches as Chinese buyers return to Singapore’s luxury condo m

    Foreign buyers eye Klimt Cairnhill for its prime location

    March 3, 2023

    With only a handful of new launches in the Cairnhill/Orchard Road area over the last few years, units up for sale at uncompleted projects in the area are highly sought after by buyers keen to purchase a new luxury home in this prime district.

    Among the new projects in the area, buyers have recently zoomed in on Klimt Cairnhill, a freehold development by mainboard-listed construction and property company Low Keng Huat. The 138-unit development comprises a single 36-storey tower on a 62,904 sq ft site. The project was launched for sale in August 2021.

    Designed by DP Architects, the project features a curvilinear façade design with gold highlights that add a touch of sophistication. The design was also inspired by Austrian artist Gustav Klimt’s paintings in gold leaf, says Alvin Teo, executive director of Low Keng Huat, in a presentation on the project at EdgeProp’s master class webinar on Feb 25. A neighbouring conserved bungalow serves as the residents’ clubhouse. The condo has a mix of two- to four-bedroom apartments that range from 829 to 2,368 sq ft.

    Low Keng Huat relaunched the project after a refurbishment of the sales gallery was completed in January this year, and sales significantly picked up on the back of renewed interest from high-net-worth buyers.

    The most prime units at Klimt are the two penthouses: a 4,898 sq ft six-bedroom simplex on the 36th floor, and a 5,290 sq ft six-bedroom duplex on the 35th and 36th floors. Last month, the duplex was sold to a mainland Chinese buyer for $27.5 million ($4,645 psf).

    The simplex penthouse was sold for $26 million ($5,309 psf) last November.

    Meanwhile, a 2,368 sq ft, four-bedroom unit on the 35th floor was sold for $10.1 million ($4,264 psf) on Dec 25 last year, followed by another four-bedder on the 31st floor that fetched $9.95 million ($4,202 psf) on Jan 9.

    According to sales data provided by the developer, 38 units have been sold so far, bringing the take-up rate to 28%. Sales data tabulated by EdgeProp show that steady sales have raised the average price at Klimt Cairnhill to about $3,778 psf.

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