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REPORT
Report on Mixed Development Projects (2014)
Table of Contents
Definition and Regulations ............................................................................. 2
Increasing Popularity ..................................................................................... 2
Pros and Cons ................................................................................................ 3
Recent Market Changes ................................................................................. 3
List of Mixed Development Projects ............................................................... 5
City Gate ........................................................................................................ 8
General Information ........................................................................................................................... 8
Selling Prices ....................................................................................................................................... 9
Location Map .................................................................................................................................... 10
Comments ......................................................................................................................................... 10
The Citron Residences .................................................................................. 14
General Information ......................................................................................................................... 14
Selling Prices ..................................................................................................................................... 15
Location Map .................................................................................................................................... 15
Comments ......................................................................................................................................... 16
Property Club Singapore
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Definition and Regulations
According to URA (Urban Redevelopment Authority), mixed development are areas used
mainly for mixed residential and commercial purposes, including shopping, office and
residential.
Building of hotels may be allowed but is subjected to evaluation. Two examples are Dorsett
Residences and Duo Residences.
There are rules from URA governing mixed development areas:
1. Commercial areas shall not be located above residential areas.
2. The minimum quantum for commercial and related uses shall be determined by the
competent authority with regard to the locality concerned.
3. The commercial quantum shall not, unless otherwise allowed by the competent
authority, exceed 40 percent of the maximum allowable floor area.
Increasing Popularity
Square Foot Research mentions in an earlier report that there is a pick-up of interest in the
commercial units in mixed development projects. A constant supply of patrons from the
residential units in the same complex promises good rental for highly-sought after tenants
such as supermarkets, restaurants and franchise chains.
In the past, mixed-use residential properties were not very popular among home buyers.
Traditionally, Singaporeans prefer to buy private homes in developments purely reserved for
residential use. Buyers with budget like to look for exclusivity in condominiums.
However, buyers are becoming more receptive of mixed-development residential projects for
the convenience of shopping for everything under one roof. A common design can be one or
a few residential blocks built on top of a single-level or multi-storey shopping mall.
In fact, some mixed developments have gained their prestige by positioning themselves as
the icon of a prime district, especially when they are big projects comprising residential units,
commercial shops, A-class offices and hotels. Duo Residences, Clermont Residences and
Marina One Residences are good examples.
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Pros and Cons
Pros
• Convenience of access to daily necessities
• Shortening of travel time and distance to shops and eateries
• Ideal for tenants who are non-drivers looking for easy access to amenities
• A plus for public transport commuters, especially if the project is built above a train station
or a bus interchange
Cons
• Loss of sense of exclusivity perceived in upscale residential projects
• Heavy traffic especially during weekends and festive seasons
• Increased security concerns when commercial and residential units are sharing the same or
a nearby entrance or lift
• Difficulty in obtaining majority consensus in a collective sale since shop owners have more
shares in a mixed development
Recent Market Changes
Mixed development projects were selling like hot cakes between 2011 and 2013. Below are
some successful cases:
1. Residential units in Vibes at East Coast were sold out in four months’ time in mid-2011
even after adjusting the selling prices upwards.
2. Seventy percent of units at Katong Regency were reserved when the project was launched
in April 2012. The developer UOL enjoyed a healthy pre-tax margin of 40 percent.
3. In June 2013, 142 units of KAP Residences at King Albert Park were sold out in two weeks’
time at an average price of $1,705 psf.
4. In October 2013, 124 of 146 strata retail units in Junction Nine were sold during the first
month of launch.
5. A long queue of eager buyers at the sales gallery snapped up 470 of 660 units in Duo
Residences within three days of launch in November 2013.
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However, there is a reversal of fate for mixed development projects since 2014 when the
impacts of TDSR and other cooling measures are fully felt in the market.
1. Sales in projects like City Gate, Clermont, Hillion and The Venue are slow.
2. Many projects only managed to move one to three units (or even none) in the whole
month of July 2014, despite offering discounts or cash rebates to buyers.
3. Developers of new projects like One Marina Residences and South Beach keep bidding
time to find a better time to launch their mixed development project.
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List of Mixed Development Projects
The table below shows a total of 28 mixed development projects launched in recent years and are ready for occupation in the next five years.
Table: Mixed development projects ready for occupation in 2015 to 2019
Project Name Street Name Developer Former
Building Locality District Tenure
No. of
Storeys
Site Area
(sq ft)
Commercial
Units
Residential
Units
Residential
Launch
Price ($psf)
Launch
Date
Expected
TOP
Ascent @ 456 456 Balestier Road Quest Homes Pte Ltd
(Tong Aik) n.a. RCR 12 FH 12
11,668 19 28
1,470 Mar 2014 Dec 2017
City Gate 371 Beach Road
Bayfront Ventures Pte
Ltd (Fragrance Group
and World Class Land)
Keypoint RCR 7 99-year 30
78,242 188 311
1,800 Jul 2014 Oct 2019
Clermont
Residence 3 Wallich Street
Belmeth Pte Ltd/Guston
Pte Ltd/Perfect Eagle
Pte Ltd (GuocoLand Ltd)
n.a. CCR 1 99-year 26
161,709 n.a. 181
3,050 Dec 2013 2016
Dorsett
Residences
333 New Bridge
Road Tang Suites Pte Ltd n.a. RCR 2 99-year 6
46,737 n.a. 68
1,800 Aug 2010 Q3 2013
Duo
Residences 1, 3 Fraser Street
Ophir-Rochor
Residential Pte Ltd
(Malyasian Khazanah
and Singapore Temasek
Holdings)
n.a. CCR 7 99-year 49
287,270 28 660
2,000 Nov 2013 Dec 2017
Floraview Ang Mo Kio Street
66 Oxley YCK Pte Ltd n.a. OCR 28 FH 4
61,671 28 90
1,300 Jun 2014 Dec 2018
Hillion
Residences
8, 10, 12 Jelebu
Road
Sim Lian JV (BP Retail)
Pte Ltd/Sim Lian JV (BP)
Pte Ltd
n.a. OCR 23 99-year 23
204,000 > 100 546
1,300 Mar 2013 Sep 2018
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Project Name Street Name Developer Former
Building Locality District Tenure
No. of
Storeys
Site Area
(sq ft)
Commercial
Units
Residential
Units
Residential
Launch
Price ($psf)
Launch
Date
Expected
TOP
Kallang
Riverside 51 Kampong Bugis
Singapore Johore
Express Pte Ltd
Singapore
Johore
Factories
Building
RCR 12 FH 30
74,523 7 212 2,130 Jun 2014 Dec 2019
Kap
Residences
9, 11 King Albert
Park Oxley Sanctuary Pte Ltd
King
Albert
Park
RCR 21 FH 7
59,576 107 142
1,700 May 2013 Dec 2018
Katong
Regency
13, 15, 17 Tanjong
Katong Road
UOL Property
Investments Pte
Ltd/UOL Residential
Development Pte Ltd
Lion City
Hotel RCR 14 FH 16
153,697 n.a. 244
1,660 Apr 2012 Dec 2015
Kensington
Square 2 Jalan Lokam
Kensington Village Pte
Ltd (Fragrance Group
and World Class Land)
Tai Keng
Court OCR 19 FH 5
103,799 57 141
1,400 Sep 2013
Nov
2017
Marina One
Residences 21, 23 Marina Way
M+S Pte Ltd (Malyasian
Khazanah and
Singapore Temasek
Holdings)
n.a. CCR 1 99-year 34
282,490 n.a. 1042
2,600 Sep 2014
Aug
2018
Midtown
Residences
1187 Upper
Serangoon Road Oxley-Lian Beng Pte Ltd
Hougang
Plaza OCR 19 99-year 12
57,047 107 160
1,400 May 2013 Dec 2018
NeWest 1 West Coast Drive Oxley Viva Pte Ltd
Hong
Leong
Garden
Shopping
Centre
RCR 5 956-
year 12
165,000 141 136
1,350 May 2013 Dec 2018
Nine
Residences 18 Yishun Avenue 9
CEL-Yishun
(Commercial) Pte
Ltd/CEL-Yishun
(Residential) Pte Ltd
n.a. OCR 27 99-year 14
95,351 146 186
1,070 Oct 2013 Jun 2017
North Park
Residences Yishun Central 1
North Gem
Development Pte
Ltd/FC North Gem
Trustee Pte Ltd (Fraser
Centerpoint Ltd)
n.a. OCR 27 99-year 10
442,234 500 920 TBC TBC
mid-
2018
Novena
Regency
275, 277, 279
Thomson Road
Fragrance Realty Pte Ltd
(Fragrance Group Ltd)
Novena
Ville CCR 11 FH 5
52,675 45 55
2,300 Apr 2013
Aug
2017
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Project Name Street Name Developer Former
Building Locality District Tenure
No. of
Storeys
Site Area
(sq ft)
Commercial
Units
Residential
Units
Residential
Launch
Price ($psf)
Launch
Date
Expected
TOP
OKIO
Residences 262 Balestier Road Tiara Land Pte Ltd n.a. RCR 12 FH 18
22,285 10 104
1,650 Sep 2011
Nov
2015
One Dusun
Residences 1 Jalan Dusun
LVND Homes Pte Ltd
(Nobel Design Holdings,
2E Capital and Lian Huat
Group)
n.a. RCR 12 FH 29
34,227 76 154
1,540 Aug 2012 Dec 2017
Onze @
Tanjong
Pagar
11 Kee Seng Street Heeton Holdings Ltd n.a. RCR 2 FH 18
14,781 13 56
2,400 Sep 2013
Mar
2018
Pavilion
Square 345 Geylang Road
Pollux Treasures Pte.
Ltd. n.a. RCR 14 FH 5
7,430 93 42
1,500 Apr 2013
Mar
2016
South Beach
Residences 38 Beach Road
South Beach
Consortium Pte Ltd
(City Developments Ltd
and IOI Group)
n.a. CCR 7 99-year 23
34,959 n.a. 190
3,000 TBC
2015/20
16
The Citron
Residences 1 Marne Road
Goodland Assets Pte Ltd
(The Goodland Group) n.a. RCR 8 FH 6
18,303 36 54
1,500 Aug 2014 Dec 2019
The Rise @
Oxley -
Residences
71, 73 Oxley Rise Oxley Rise Pte Ltd n.a. CCR 9 FH 10
25,630 29 120
2,400 Jun 2014 Dec 2019
The Venue
Residences Tai Thong Crescent
Crescent View
Developments Pte Ltd
(City Development
Limited and Hong Leong
Holdings)
n.a. RCR 13 99-year 18
88,268 28 266
1,450 Oct 2013 Sep 2017
Vibes @ East
Coast
308 Telok Kurau
Road Oxley Module Pte Ltd n.a. RCR 15 FH 5
25,972 28 117
1,340 May 2011 Dec 2015
Viio @
Balestier 520 Balestier Road
Techkon Commercial
Pte Ltd
Leong On
Building RCR 12 FH 12
22,062 30 48
1,600 Jul 2014 Dec 2017
Watertown Punggol Central
Emerald Star Pte Ltd/FC
Retail Trustee Pte Ltd
(Far East, Frasers
Centrepoint and Sekisui
House)
n.a. OCR 19 99-year 14
332,912 n.a. 992
1,180 Feb 2012 Dec 2017
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City Gate
General Information
Location : 371 Beach Road
District : 07 (Rest of Central Region)
Developer : Bayfront Ventures Pte Ltd (Fragrance Group and World Class Land)
Tenure : 99-year Leasehold from 25 Apr 2014
Expected TOP : 31 Oct 2019
Launch Date : Jul 2014
Launch Price : S$1,800 psf
Units : Two 30-storey blocks with 181 shops and 311 residential units
Unit Type No. of Units Area (sq ft)
1-bedroom 43 431 - 452
2-bedroom 42 560 – 570
2-bedroom dual-key 174 678 – 807
3-bedroom dual-key 44 904 - 915
1-bedroom penthouse 1 484
2-bedroom penthouse 4 807 – 1,464
3-bedroom penthouse 3 1,604 – 1,819
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Selling Prices
Below are the recent caveats lodged published by URA:
Price ($) Area (Sqft)
Floor
Level
Price
($ psf) Date
798,000 431 11 to 15 1,853 Aug-14
810,000 431 11 to 15 1,881 Aug-14
786,000 431 06 to 10 1,826 Aug-14
828,000 431 16 to 20 1,923 Aug-14
826,500 452 11 to 15 1,828 Aug-14
889,500 452 16 to 20 1,968 Aug-14
903,000 452 21 to 25 1,997 Aug-14
1,011,000 560 11 to 15 1,806 Aug-14
1,046,250 560 16 to 20 1,869 Aug-14
1,103,250 570 21 to 25 1,934 Aug-14
984,000 570 06 to 10 1,725 Aug-14
1,179,000 678 06 to 10 1,739 Aug-14
1,211,250 678 11 to 15 1,786 Aug-14
1,203,000 678 11 to 15 1,774 Aug-14
1,214,250 689 11 to 15 1,763 Aug-14
1,182,000 689 06 to 10 1,716 Jul-14
1,219,500 700 06 to 10 1,743 Aug-14
1,235,250 700 06 to 10 1,766 Aug-14
1,355,250 700 21 to 25 1,937 Aug-14
1,302,000 710 11 to 15 1,833 Aug-14
1,555,500 904 11 to 15 1,720 Aug-14
1,659,000 915 16 to 20 1,813 Aug-14
1,560,000 915 06 to 10 1,705 Aug-14
1,650,000 915 11 to 15 1,803 Aug-14
Average Price psf
1,821
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Below are the prices quoted by the marketing agent at the sales gallery on August 27, 2014:
Type Unit No. Price ($)
Area
(Sqft)
Price
($psf)
1BR #15-01
822,000 431
1,907.19
1BR #26-08
917,250 452
2,029.31
2DK #18-09
1,262,000 689
1,831.64
2DK #11-04
1,251,000 700
1,787.14
3DK #10-03
1,614,000 915
1,763.93
Location Map
Comments
City Gate is conveniently connected to the Nicoll Highway MRT station through an overhead
bridge. It is surrounded by conservation shophouses, Sultan Plaza, Textile Centre, The
Concourse and Golden Mile.
While Duo Residences was launched at an average selling price of $2,000 psf in November
last year, units at City Gate are deliberately priced lower at $1,800 psf to attract buyers.
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The 188 shops located on B1, 1st and 2nd storey are marketing between $3,600 to $4,200
psf. The foodcourt was bought by a party from China at $18 million. Carpark is built on 3rd
to 6th storey.
There are 311 residential units between 7th and 30th storey marketing between $1,700 to
$2,00 psf. The onsite marketing agent claimed that half of the units have been sold by the
end of August.
1. Site Plan
The best facing units are 03 and 04. If buyers don’t mind the traffic at Nicoll Highway, the
southeast facing balconies will enjoy an open view of Kallang Basin and Tanjong Rhu.
For unit 05 and 06, depending on the level, the view of the units may be blocked by the
Concourse and high-rise condominium Skyline.
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Unit 07, 08, 09, 10 and 11 will oversee rows of low-rise shophouses and have a nice city
view. However, the units have west sun.
Avoid unit 12 since the whole stack of units face a mosque and the master bedrooms are
too close to the two old buildings Sultan Plaza and Textile Centre.
2. The layout
City Gate offers four types of layout: 1-bedroom, 2-bedroom, 2-bedroom dual-key and 3-
bedroom dual-key units. The estimated maintenance fees for 1, 2 and 3 bedroom units are
estimated to be $270, $345 and $420 respectively.
Developers like to say that the selling point of
dual-key units is the ability of buyers to own
‘two units’ while paying only ‘one stamp duty’.
This is based on the assumption that the
owners will rent the unit out to two tenants,
with each holding the key to their own sub-unit.
The marketing agent claimed that the 2-
bedroom dual-key units can fetch a total rent of
$4,000 (with $2,000 from each tenant) while
the 3-bedroom dual-key units can be tenanted
at a total of $6,000 ($4,000 from the 2-
bedroom and $2,000 from the studio).
The studio unit in the 2-bedroom and 3-
bedroom dual-key unit is a long narrow
shape with a big balcony. The usable area
of the studio looks no more than 200 sq ft
which is less than half the size of a hotel
room.
Furniture need to be either built-in or
customized by an interior designer and
contractor. After putting a double bed in
the bedroom, there is no space left. It is
difficult to imagine how a Caucasian
tenant can move around in this tiny cell.
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3. The finishing
One bedroom units will come with all parquet flooring and a hotel-style mini fridge in the
open kitchen. For two and three bedroom units, buyers will find 3 x 1 marble flooring for the
halls and parquet flooring for the bedrooms.
The units has a high ceiling height of 3.3-metre for the developer
to build a ‘furniture deck’ (optional) for one of the bedrooms.
This is basically a loft concept with a flight of wooden staircases
going up to the upper deck. A mattress can be placed on top to
be used as a bed while the lower deck can be a study area or a
wardrobe. Young children may find this fun but most adults may
rather sleeping in a normal bed.
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The Citron Residences
General Information
Location : 1 Marne Road
District : 08 (Rest of Central Region)
Developer : Goodland Assets Pte Ltd (The Goodland Group)
Tenure : Freehold
Expected TOP : 31 Dec 2019
Launch Date : Aug 2014
Launch Price : S$1,500 psf
Units : 6-storey block with 36 shops and 54 residential units
Unit Type No. of Units Area (sq ft)
1-bedroom 8 388/431
2-bedroom 26 646 – 743
2-bedroom dual-key 14 721/731/829
3-bedroom 6 818/915/1119
Shop 36 431 - 657
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Selling Prices
Below are the recent caveats lodged published by URA:
Price ($) Area (Sqft)
Floor
Level
Price
($psf) Date
755,700 431 01 to 05 1,755 Aug-14
1,027,600 657 01 to 05 1,565 Aug-14
1,037,800 667 01 to 05 1,555 Aug-14
The developer has chosen a few ‘star buy’ units for buyers visiting the sales gallery. Below
are the prices of these units quoted by the onsite marketing agent on September 3, 2014:
Type Unit No. Price ($)
Area
(Sqft)
Price
($psf)
2-BR #02-01
1,031,100 667 1,546
2-BR #04-01
1,044,500 667 1,566
2-BR #02-04
1,104,600 732 1,509
2-DK #03-11
1,150,300 721 1,595
Location Map
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Comments
Located in Little India, the Citron Residences is only 3 minutes’ walk to Farrer Park MRT. It is
also a stone's throw away from City Square Mall and Mustafa Centre.
City Square Mall is a quiet shopping mall, especially on weekdays, due to the lack of HDB
estates and offices in the surrounding areas. However, City Square Residences are popular
with tenants, especially single expatriates. A 560-sqft studio can be rented out at $3,400 per
month. Its proximity to town, an MRT station and a shopping mall are the plus points.
The Citron is a 90-unit building comprising of 36 shops on the ground floor and 54
apartments from 2nd to 6th storey. Shops are marketing at $2,000 to $2,400 psf while
residential units are selling at an average price of $1,500 to $1,600 psf. All 1-bedrooms have
been sold out.
For security, residents can use their access cards to go up to their units using the two
resident lifts. However, residents and shoppers driving are using the same entrance. There
are only 60 carpark lots and 2 handicap carpark lots. Visitors must be prepared to park on
the roadside or at the nearby City Square Mall.
1. Site Plan
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The Citron Residences is a low-rise 6-storey building. Except the bedrooms in units 10 and
11 facing Petain Road may be blocked by the taller blocks of Kerrisdale, all units are
surrounded by low-rise developments in the area.
Unit 01, 02, 05, 06, 07 and 11 can enjoy a more open view, with a southeast facing to avoid
the west sun.
2. The layout
The Citron Residences offer four types of layout: 1-
bedroom, 2-bedroom, 2-bedroom dual-key and 3-
bedroom units. In a smaller development, maintenance
fees are expected to be higher with 2-bedroom units
charging at around $400 per month.
All layout plans of the residential units are squarish in
shape. With the absence of balcony, bay window or
planted box, it maximizes the usable area of the
apartments.
Similar to other new condominium projects, the long
shape of the combined living and dining area means
that only a squarish or rectangular-shaped dining table
(not a round one) is possible in the dining room.
One and two-bedroom units have open kitchens. For the more spacious 3-bedroom units
(818 sq ft or 915 sq ft with no PES), there is an enclosed kitchen. There is also a master
bedroom with decent size for the owner to put a king-size bed there.
3. The finishing
There is no sales brochure for visitors at the sales gallery. It is difficult for potential buyers to
get the details of all the building materials, fixtures, etc. for the project. Buyers can only
hope that what-you-see-is-what-you-get at the showflat. And hopefully upon TOP, there will
be similar compressed marble flooring for the halls and timber strip flooring for the
bedrooms upon as shown in the showflat.