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Thread: The Rochester (D5, 99 year leasehold, United Engineers)

  1. #1
    Join Date
    Feb 2007
    Posts
    366

    Default The Rochester (D5, 99 year leasehold, United Engineers)

    Rumoured to be launching at $1,200PSF. A far cry from $550PSF as originally planned.



    Property
    Published December 19, 2006

    Homes in one-north to be launched early next year

    By UMA SHANKARI

    THE first-ever residential development in science hub one-north, tentatively named One Rochester Park, will be launched around Chinese New Year - and the project is expected to benefit from the new-found buzz of the Rochester Park area.



    One Rochester Park: Most of the apartments in the project will be two-bedroom and three-bedroom units


    The 368-unit development is right next door to the up-and-coming Rochester Park, a dining and retail enclave set against a rustic backdrop of undulating grounds and green canopies.

    The project is developed by United Engineers (UE), which last year secured the public-private partnership (PPP) project to build a business hotel and mixed development in one-north from JTC Corporation.

    Most of the apartments in the project will be 1,200 square feet two-bedroom and 1,500 sq ft three-bedroom units.

    Separately, UE will also be building 250 hotel rooms and 120 serviced residence units.

    The whole mixed development is designed by Tange & Associates, headed by the son of the late Kenzo Tange, who designed UE's flagship development UE Square about a decade ago.

    Said UE: 'The design of one-north, of which the mixed development forms a part, is a self-contained concept - eat, live and play.

    'It promotes the exchange of ideas and interflow of traffic, and as such does not promote boundaries between land use - and hence little or no use of fences.'

    Market watchers said that it is hard to predict the launch price for the development as the concept is new.

    UE has previously said that prices could start at about $550 per sq ft, but with the upward trend in property prices over the past few months, the launch price should be well above that when the time comes.

    Prices will also be boosted by the area's new-found fame - it is fast becoming known for its F&B outlets housed in atmospheric colonial bungalows. UE gained two such bungalows when acquiring the site, which will soon be leased out to F&B tenants.

    One Rochester Park is UE's first wholly owned residential project since the company successfully launched its apartments at UE Square a decade ago. Then, at the height of the property boom, units were sold out within a day, said the company.

    Since then, while UE has taken stakes in other residential projects, it has focused on its core business of engineering and construction.

    In a recent interview with BT, UE's chief executive Jackson Yap said that he was especially interested in working on more PPP projects with JTC.

    UE's managing director David Liew said the company might also look into participating in the request for proposals (RFPs) to build Phase 2B of the cutting-edge science and engineering R&D hub Fusionopolis in one-north, after JTC said it will launch an RFP next year for private developers to build the project.

  2. #2
    Grandfather Clock Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    How psf can change in just 3 months!

    $600 psf becomes $1,200 psf!

  3. #3
    Bypasser Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    One Rochester launch will now be in May.

  4. #4
    Unregistered Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Bypasser
    One Rochester launch will now be in May.
    Yep, heard it was delayed. Probably smart of them to do so. No way the market can sustain this kind of buying at this kind of prices for D5 (like at One North Residences). Better to wait awhile for market to cool down, at the same time fuelling bigger interest in D5 through some news articles.

  5. #5
    Makelele Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    I have a feeling that somehow this won't do as well as one-north residences... I could be wrong of course. Where one-north was a novelty to the public at that point in time, One Rochester will merely come across as expensive. Hope I'm wrong.

  6. #6
    one-north Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Bypasser
    One Rochester launch will now be in May.

    It will be early part of May.
    Our wait will be over soon.
    Get ready brothers and sisters!

  7. #7
    Reuters Newsmaker Event Guest

    Default MM Expects Growth To Hit Top End Of 4.5-6.5% Forecast

    Quote Originally Posted by Reuters
    Key factor for S'pore economy is whether US consumers will continue to spend
    Audrey Tan
    Assistant Money Editor
    The Straits Times
    25 April 2007

    Singapore's economy is likely to grow at the top end of the official 4.5 to 6.5% growth estimate this year, as long as the United States economy holds up, Minister Mentor Lee Kuan Yew said yesterday.
    A key factor for Singapore's growth is whether US consumers will continue to spend, he said.

    If US consumption is hit by the housing market slowdown or other factors, then Singapore may grow only at the lower end of the range, he said at the Reuters Singapore Newsmaker Event, a dialogue with financial and media professionals, yesterday.

    'My guess is it doesn't look as if there will be a major downturn in the US, so it may be at the higher end (of the growth forecast). But the key factor is the US economy. They're still our biggest single market,' Mr Lee said.

    But fundamentally, Singapore is set to grow, 'short of an oil crisis or major crisis over Iran', he added.

    Even foreign investors from as far as the Middle East and Europe can see the stars are aligned for Singapore.

    There are Gulf Arabs and even people from Monaco buying property in Singapore in the current property upturn, compared to previous property booms where the only foreign buyers were from the region, Mr Lee said.

    'I took that as a great tribute because if you live in Monaco and you are putting money here, obviously you believe this will last as long as Monaco... So it really affirms my conviction that the stars are in the right firmament for us,' he said.

    These property purchases are a strong show of confidence in the Singapore economy, Mr Lee said. 'If they just put money into the stock market, they are off tomorrow. But when you buy property, properties take a long time to negotiate and when you want to liquidate, it takes a long time.'

    Mr Lee's optimism was mirrored by the Monetary Authority of Singapore (MAS), which said yesterday that the local economy is on track for a 4th straight year of robust growth.

    The central bank is sticking to the official growth estimate even as it notes that the US economy is slowing and the global electronics sector is sputtering.

    Singapore's growth momentum may slow in the first half of this year, but will pick up steam in the second half, MAS said in its half-yearly Macroeconomic Review released yesterday.

    A 'sharper-than-expected' US downturn is the key risk to global growth this year, but growth in Asia and Europe should provide some cushion for the global economy, it added.

    In Asia, strong buying from consumers at home could also help offset a slowdown in exports, it added.

    In Singapore, local electronics firms may continue to suffer from the global electronics industry downturn, hurting Singapore's growth momentum in the first half of this year.

    But growing stockpiles in the semiconductor industry - which have hit local electronics firms - should clear in the second half, MAS said.

    In any case, other non-IT-related industries are expected to be key drivers of growth this year, MAS said.

    MAS expects continued growth in non-IT industries, such as transport engineering and the biomedical sector. The finance, retail and tourism industries are also expected to grow, while the property upturn will give a lift to the construction industry, MAS said.

    Growth of between 4.5 and 6.5% this year is well above Singapore's medium-term growth potential of 3 to 5% growth, but is still a significant slowdown from last year's 7.9%.

    That was the third straight year of healthy growth for the local economy, which grew by 6.6 and 8.8%, respectively, in 2005 and 2004.

    But HSBC economist Robert Prior-Wandesforde said Singapore's exports could start to pick up sooner rather than later, which means overall economic growth may well accelerate earlier than the MAS forecast of a second-half recovery.

    MM Sir!
    Can you confirm foreigners are buying and you won't do anything to disturb this uptrend?

  8. #8
    Unregistered Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Grandfather Clock
    How psf can change in just 3 months!

    $600 psf becomes $1,200 psf!
    There is a lot of upside for Singapore property, only problem is developer has taken the share of upside to the max for you before launch. You have to be a fool to believe there will be a lot of upside left for you. It is possible, but the risk/reward ratios would tell you that it is a lousy investment decision to suck up the the price adjusted property from developer's hand.

  9. #9
    Bargain Hunter Guest

    Default RE: Huge Jump In Homes Sold For Above S$5M

    Quote Originally Posted by Joyce Teo (Ms)
    Joyce Teo
    The Straits Time
    25 April 2007

    The number of home buyers paying more than S$5 million for a residential property in Singapore is skyrocketing, a new report has found.

    Property consultancy Savills Singapore said last year, 503 sales were done for homes costing more than S$5 million - an "astounding" 229.9% jump over 2005. About 60% of these high-end homes were bought by Singaporeans.

    And already in the first quarter of this year, the 157 deals made have surpassed the 153 total for all of 2005. Foreigners accounted for a growing proportion - 55% - of the buyers. In 2005, Singaporeans accounted for about 85% of these deals.

    The jump in buyers paying big prices corresponds, not surprisely, with a surge in the prices of high-end homes, particularly in the past 2 years.

    In the first quarter of this year, the average price of super luxury homes has shot up to S$2,747 psf, from less than S$2,400 psf in the fourth quarter.

    However, luxury homes in Singapore are still considered a bargain compared with other major gateway cities around the world, said Savills.

    In London, the world's most expensive city in the high-end market, the average price of high-end homes hovers around S$8,900 psf, it said.

    In New York, such homes cost about S$4,500 psf on average. And apartments in Roppongi Hills in Tokyo cost about S$3,400 psf on average.

    ... in Singapore are still considered a bargain ...

    What? Bargain?
    Let me know. Must grab all these CheapCheap buys.

  10. #10
    Teacher Guest

    Default Re: MM Expects Growth To Hit Top End Of 4.5-6.5% Forecast

    Quote Originally Posted by Reuters Newsmaker Event
    MM Sir!
    Can you confirm foreigners are buying and you won't do anything to disturb this uptrend?

    MAS said up already. Will it say up if it intend to disturb the uptrend?
    Let's see who is gonna contradict MM's first world vision.

    one-north is one of Singapore key pillar. You better go grab something in One Rochester. Don't just spend your time sitting at home reading the UBS, Citigroup, MAS, etc. reports. Act now by grabbing something in one-north.

  11. #11
    Student Guest

    Default Re: MM Expects Growth To Hit Top End Of 4.5-6.5% Forecast

    Quote Originally Posted by Teacher
    MAS said up already. Will it say up if it intend to disturb the uptrend?
    Let's see who is gonna contradict MM's first world vision.

    one-north is one of Singapore key pillar. You better go grab something in One Rochester. Don't just spend your time sitting at home reading the UBS, Citigroup, MAS, etc. reports. Act now by grabbing something in one-north.

    Yes, got it, teacher.
    Registered my interest with an agent already.
    Thank you.

  12. #12
    许美艾 (花旗环球金融新加坡&# Guest

    Default 本地房地产市场持续看好

    Quote Originally Posted by Unregistered
    There is a lot of upside for Singapore property, only problem is developer has taken the share of upside to the max for you before launch. You have to be a fool to believe there will be a lot of upside left for you. It is possible, but the risk/reward ratios would tell you that it is a lousy investment decision to suck up the the price adjusted property from developer's hand.

    .......... 新加坡的房地产市场,不论是住房或商业地产都会持续看好

    ..... 办公楼的租金将会持续以50%的速度上升。到年底时,高档办公楼的每平方英尺的租金将达14.50新元。

    ..... 办公楼的供应也非常紧。从现在到2010年间,新建的办公楼楼面非常少。但在过去两年来,需求都在190万平方英尺的水平,供应几乎陷于负数。她预测,办公楼的租金依然会以50%的速度上扬,在2008年达到每方英尺18新元水平。

    至于私人住房方面 ..... 根据市建局的数字,去年第四季的住用率达93.9%,是10年来的高峰。若加上集体出售计划下受影响的3500单位,住用率则被提高到95.9%。这是新加坡住房产业方面的一个新纪录。租赁住房的租金在过去四个季度里,每季都以8至10%上扬

    由于新单位的供应慢,加上新加坡近年来所制造的新就业机会,吸引了大量外国人的流入,造成对租赁住房的需求激增。

  13. #13
    Interested Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Is there a website for One Rochester?

  14. #14
    RoadRunner Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by joe
    April 27, 2007, 1.22 pm (Singapore time)

    Last updated: 2.22 pm

    S'pore's home prices rise 4.8% in Q1


    SINGAPORE - Singapore's home prices chalked up their biggest gains in over seven years, rising 4.8 per cent in the January to March period from the previous quarter led by the luxury segment, officials figures showed on Friday.

    The Urban Redevelopment Authority (URA), said its price index for private homes rose to 136.5 points in the first quarter from 130.2 points in the Oct-Dec period last year. This is a 16.5 per cent increase from the first quarter a year ago.

    Prices for private apartments in the republic's prime central district rose at a faster pace during the first quarter, climbing 5.5 per cent compared to the more modest 2 per cent gain chalked up by flats in the rest of the island republic.

    Private home rents also grew at a faster pace between January and March, growing 7.6 per cent compared to 5.3 per cent in the last three months of 2006. Singapore's property market recovery gained momentum after the government introduced measures in July 2005 to ease real-estate financing rules and foreign investment.

    Last month, CapitaLand and its Hong Kong partner Sun Hung Kai Properties said they had set a new pricing benchmark for Singapore residential property by selling some units in their downtown development for more than $4,000 (US$2,644) per square foot.

    The URA said office space rents grew 10.4 per cent in January-March, moderating slightly from 11.6 per cent in the last quarter of 2006. -- REUTERS


    http://www.ura.gov.sg/pr/text/2007/pr07-42.html

    Don't waste time. Quickly cheong!

  15. #15
    Beng Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by RoadRunner
    Don't waste time. Quickly cheong!

    Cheong what? Must go register first lah!

  16. #16
    Teacher Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Beng
    Cheong what? Must go register first lah!
    Yah lah. Yah lah. Very smart lah.
    Study the floor plan and get ready your cheque(s) lah.

  17. #17
    Beng Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Teacher
    Yah lah. Yah lah. Very smart lah.
    Study the floor plan and get ready your cheque(s) lah.
    Passed to my agent already.

  18. #18
    Teacher Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Beng
    Passed to my agent already.

    Then go home and sleep and not waste time here.

  19. #19
    Impatient Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Interested
    Is there a website for One Rochester?

    So .... when is it launching?

  20. #20
    Europe Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    It's The Final Countdown.

  21. #21
    Impatient Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Europe
    It's The Final Countdown.
    Hello!
    So when is the countdown?

  22. #22
    Unregistered Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Impatient
    Hello!
    So when is the countdown?
    It will take a while. May be one more month at least as they just started building the showflat two weeks ago.

  23. #23
    UE? Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Somehow, UE's projects don't leave a very good impression on me.... even when designed by famous architects. For example, UE Square.

  24. #24
    Speed Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Unregistered
    It will take a while. May be one more month at least as they just started building the showflat two weeks ago.
    Wah liao arg!
    Only started building 2 weeks ago? Why so slow?
    Wat is tis?

  25. #25
    Unregistered Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    any update on tis project?

  26. #26
    Unregistered Guest

    Default Re: One Rochester (D5, 99 year leasehold, United Engineers)

    hi folks,

    u know the appointed marketing agency for this project? do take note that for such hot projects, priority booking within the appointed marketing agency will prevail. in case you wish to know, pls feel free to buzz me at [email protected] .......... the initial project briefing on 6 jun was postponed...

  27. #27
    Unregistered Guest

    Default His Own Man

    Paul Noritaka Tange may be the son of renowned architect Kenzo Tange, but 'I am who I am', he says.

    Tay SuanChiang
    Business Times
    23 Jun 07



    Architecture, says Japanese architect Paul Noritaka Tange, is about 'creating a space for users that meets their needs'.
    It is not about area size nor designing a building on a site, he adds.

    The only son of the late renowned architect Kenzo Tange met Life! on Tuesday at the showflat of The Rochester, a 368-unit residential block within Vista Xchange. It is a mixed development project by United Engineers Development.

    For this project, the younger Mr Tange, 49, designed two twin towers - one a hotel called Park Avenue Vista and the other The Rochester, which he says are 'gateways to the Buona Vista area'.

    There will also be offices and a retail mall in the development which will be surrounded by lush greenery.

    Its exteriors will be clad in glass, but on the inside, especially for The Rochester, warm colours will be used so 'residents can truly feel the warmth of coming home', says Mr Tange.

    Mr Jackson Yap, CEO of United Engineers Limited, calls Mr Tange a 'sensible architect, as he achieves a balance between aesthetics and economics'.

    The Tokyo-born Mr Tange, who graduated with a master's in architecture from the Harvard University Graduate School in 1985, is no stranger to Singapore. He flies in once a month, and enjoys local food such as chicken rice, bak kut teh and beef hor fun.

    His projects here include upmarket residential development The Linear in Upper Bukit Timah for Amara Holdings and the redevelopment of The Cathay.

    When asked what he thinks of local architecture, he notes that the standard of architects here is high. 'I have to work harder,' he says, with a laugh.

    As a foreign architect in Singapore, he says he brings with him his own experience of working overseas in countries like Japan and China. 'But local architects have their own local experience too, so it is a good combination to have the two to create something interesting,' he says.

    On the skyrocketing property prices that Singapore is experiencing at the moment, he jokes that as an architect, he does not make enough to own such property.

    He declines to say whether or not high prices equals high quality buildings, but adds that 'good design creates good market value'.

    Good design is not about sitting in front of a desk, but about thinking.

    'I don't believe in inspiration, but rather I think, and if you think hard enough, you find the solution.'

    He says that most people have a design sense, but it is 'knowing how to polish and make use of it'. And having experience also helps, he adds.

    Mr Tange joined his father's firm, Kenzo Tange Associates, after graduation and was its executive vice-president until 1996.

    Mr Kenzo Tange retired in 2002 and his company was absorbed into Paul's own firm Tange Associates the next year.

    Ask him to name his most memorable project to date, he says with a laugh: 'My father used to say it was the next one, but I don't want to copy his line.'

    But after pondering the question again, he says all his projects are important to him.

    He says he still lives in his late father's shadow, but adds: 'I am who I am.'

    Mr Kenzo Tange died of heart failure in 2005 at the age of 91. He was the architect behind OUB Centre, UOB Plaza, Nanyang Technological University and the Singapore Indoor Stadium.

    'He gave me a great education and taught me a lot,' says the son, adding that he did not feel any pressure to be an architect from his father.

    'But he was happy when I told him I wanted to be an architect, especially when he knew how hard it is to be a good one,' he says.

    And he adds that it is too early to say if his only daughter, Aya, 13, will follow in his and her grandfather's footsteps.

    'But she has told me she likes architecture,' says the man who is married to a laywer.

  28. #28
    Unregistered Guest

    Default Re: The Rochester (D5, 99 year leasehold, United Engineers)

    I wouldn't touch this leasehold. It's way over-valued now. If the 7-yr cycle is true, then in about 6 yrs' time, the true value of this condo will show. Don;t forget the value was 550psf brand new. For 99-yearer, 550 (true value) minus years spent, maybe 400 psf. Bad economy - minus another 20% or so. Developer is now trying to cash in while the hordes are crazy. But remember - the true value and they have already said it - 550 psf (and they would still have made a pile at that price). I wouldn't touch it.

  29. #29
    Unregistered Guest

    Default Re: The Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Unregistered
    I wouldn't touch this leasehold. It's way over-valued now. If the 7-yr cycle is true, then in about 6 yrs' time, the true value of this condo will show. Don;t forget the value was 550psf brand new. For 99-yearer, 550 (true value) minus years spent, maybe 400 psf. Bad economy - minus another 20% or so. Developer is now trying to cash in while the hordes are crazy. But remember - the true value and they have already said it - 550 psf (and they would still have made a pile at that price). I wouldn't touch it.
    I agree. This is priced way, way, beyond what it should be. Sit on your cash ..and wait like a vulture to pounce when there's a downturn in the property market. What goes up...

  30. #30
    Supporter Guest

    Default Re: The Rochester (D5, 99 year leasehold, United Engineers)

    Quote Originally Posted by Unregistered
    I agree. This is priced way, way, beyond what it should be. Sit on your cash ..and wait like a vulture to pounce when there's a downturn in the property market. What goes up...

    I support you.
    See you in 5 years' time.
    Bye!

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