Investing in a condo in Singapore comes with many advantages, one of which is the potential for capital appreciation. Singapore’s strategic position as a global business hub, along with its strong economic foundations, make it a highly sought-after destination for real estate investments. Throughout the years, the real estate market in Singapore has continuously shown a steady rise in property prices, particularly for condos located in prime areas. Those who wisely enter the market at the right time and hold onto their properties for the long haul can reap the benefits of substantial capital gains.
Singapore ranked world’s third most lucrative destination for global hotel investment: JLLTOP PUBLISHERS, EDITORS PICKHomegrown global asset manager and operator Keppel has announced that it will shift its focus to other brownfield redevelopment projects following the completion of Keppel South Central. According to Samuel Ng, president of Keppel’s real estate division in Singapore, the redevelopment of Keppel South Central will be their new flagship project. Keppel South Central consists of two buildings, the former Keppel Towers and Keppel Towers 2, which have been refurbished into a 33-storey commercial tower. The completed development offers about 650,000 sq ft of office, retail and event space with typical office floor plates between 20,000 and 22,000 sq ft. Located along Hoe Chiang Road in Tanjong Pagar, the tower boasts of technological improvements such as facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. It also includes retail and event spaces on the ground floor, health and wellness spaces, a landscaped terrace, and end-of-trip facilities. The redevelopment project was given the BCA Green Mark Platinum Super Low Energy building certification and is expected to save 6.2 million kilowatt hours (kWh) of energy every year and amount to $1.8 million in yearly savings.Keppel is using the success of the Keppel South Central project to pivot towards other brownfield redevelopment projects across the region through its Sustainable Urban Renewal (SUR) strategy. It was reported that 87% of occupiers across Asia Pacific are looking to have their full portfolio in green-certified properties by 2030. This presents an opportunity for sustainability-focused retrofits. In Singapore, most ageing office buildings undergo redevelopment to recycle prime commercial land in the CBD. Keppel has also established Keppel Sustainable Urban Renewal Fund (KSURF), which has received its first close with a total of over $2.3 billion in funds under management to fund redevelopment projects across Asia. Keppel will be able to leverage its in-house capabilities to renovate the properties and divest them within the fund’s life of seven years. Keppel has applied its SUR initiative to eight projects across five countries, of which three are yet to be completed. Keppel has achieved success with its SUR strategy and is confident that it can replicate this success across the region.