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

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    Default 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.


    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.

  2. #2
    ryan
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    Default Re: Orchard Turn 'Super Luxury' Apartments (D9, 99 years, Orchard Turn Developments)

    Quote Originally Posted by mr funny
    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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    Default The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd)

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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd


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    Sailing
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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd)

    Quote Originally Posted by mr funny

    Wow Thanks for the info Bro!

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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd

    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.



    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.

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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd

    Feb 6, 2007

    Orchard Turn homes may be sold next month

    By Joyce Teo, Property Correspondent



    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.

  8. #8
    nice!
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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd

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

  9. #9
    Unregistered
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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd

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

  10. #10
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    Default Re: The Orchard Residences (D9, 99 Years Leasehold, Orchard Turn Developments Pte Ltd)

    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

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