Month: December 2024

Here are the top 10 best-selling new launches of 2022 according to Huttons Asia.The article stated that projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominated the list of best-selling new launches of 2024. This was due to strong demand from upgraders, supported by a robust HDB resale market, according to Mark Yip, CEO of Huttons Asia. Three of the top 10 best-selling projects were launched in November, based on the number of units sold. Emerald of Katong was the best-selling project of 2024, selling 99% of its units within two days, from Nov 15 to 16. This 846-unit, 99-year leasehold development now only has six units left as of Dec 17. Interested buyers can search for the latest New Launches to find out the transaction prices and available units.AdvertisementAdvertisementChuan Park, which has 916 units, came in second with 696 units (76%) sold in a single day on Nov 10. As of Dec 17, the project is 79% sold. The scarcity of new private condo launches in the neighbourhood since The Scala in 2010 was one of the reasons for the strong sales. Lentor Mansion, with 533 units, took the third spot with 75% of units sold during its launch weekend in March. After nine months, the project has achieved a sales rate of 92%.Ranked fourth is the 552-unit Nava Grove, which had a 65% take-up rate during its launch weekend in mid-November. As of Dec 17, the project is close to 70% sold. Another project with 916 units, Chuan Park, took second place with 696 units (76%) sold in a single day on Nov 10. As of Dec 17, the development has achieved a sales rate of 79% with an average price of $2,582 psf. (Photo: Kingsford Group)Fifth on the list is Norwood Grand, with 84% of its 348 units snapped up since its launch in October. The 341-unit Hillhaven was one of the first projects to be unveiled in 2024, and it has sold 50 units during its launch in January. However, sales have picked up since then, and it is now in sixth spot with 259 units (76%) sold as of Dec 17.The freehold Kassia on Flora Drive has achieved a sales rate of 65% with 180 units sold out of 276 units, making it seventh overall. Ranked eighth, the 267-unit Lentoria, located in Lentor Hills Estate, saw its sales rise from 19% on the first weekend to 66% with 177 units sold as at Dec 17.Read also: Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psf The 440-unit Sora, located at Yuan Ching Road in Jurong Lake District, made 30% of its sales with 134 units sold and ranks ninth. The final spot in the top 10 is taken by freehold Meyer Blue, which sold 131 units (58%) of its 226 units through private sales.Four projects launched in 2023 have gained momentum from the robust sales in the second half of 2024, each selling more than 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, bringing attention back to these areas.The Continuum, a freehold development with 816 units at Thiam Siew Avenue, was the biggest beneficiary of Emerald of Katong’s launch. With 233 units sold in 2024, the project has achieved a sales rate of almost 60% since November, bringing its cumulative sales to 66% since its launch in May 2023. Tembusu Grand, located across the road from Emerald of Katong, also saw a boost in sales with 53% of its 638 units sold during its launch weekend in April 2023. With most sales occurring after July when market sentiment improved in 3Q2024, Tembusu Grand is now 91% sold as at Dec 17.Nearby projects also saw improved sales, such as Hillock Green with 217 units sold in 2024, bringing its cumulative sales to 359 units (76%). Hillock Green, which has 474 units and is located in Lentor Hills Estate, sold 27.6% of its units during its first sales weekend in November 2023. Lastly, the 520-unit Pinetree Hill experienced a surge in sales after releasing its second phase of units in September. Cumulatively, the project has sold 374 units (72%), with 208 units sold this year. The project saw increased interest following the launch of Nava Grove in November, driving attention to the District 21 residential enclave.…

As Singapore continues to evolve, so does its built environment. With the arrival of 2025, the facilities management (FM) sector in Singapore is on the brink of transformation. It faces a range of challenges brought on by stricter regulations, rising global temperatures, and an increase in adaptive reuse in the construction industry. These three driving factors are shaping the future of FM and paving the way for its sustainability.

As we approach the year 2025, Singapore’s built environment is set to undergo significant changes. The facilities management sector is under pressure to adapt to changing regulatory demands, cost pressures, and technological advancements. These three key drivers will define the future of FM and contribute to its sustainability: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.

One of the catalysts for energy efficiency is the Mandatory Energy Improvement regime, which will begin in the third quarter of 2025. This regime will require existing energy-intensive buildings to undergo energy audits and implement energy-efficiency improvement measures. It applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area over 5,000 sq m. These buildings are required to reduce their energy usage intensity by 10% from pre-energy audit levels, a feasible goal with the implementation of the right strategies.

Asset owners are encouraged to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. The energy audits will help identify energy consumption patterns, pinpoint performance gaps, and guide asset owners in developing a strategy to prolong the lifespan of assets, reduce operating costs in the long run, and contribute to a more sustainable built environment. Building owners can also take advantage of grants to cover the costs of energy efficiency upgrades.

One successful example of smart and sustainable facilities management can be seen in Temasek Polytechnic, Singapore’s first smart campus. The campus has embarked on a mission to digitize its operations in 2021. By utilizing a suite of solutions that digitalize campus operations, such as facility booking, crowd management, and temperature control measures, Temasek Polytechnic has valuable insights into the future of FM.

With the help of a common data environment, the campus generates data that is visualized, tracked, and monitored at a control center on campus. This allows campus operations teams to make informed decisions on how to keep the building’s operational systems healthy for as long as possible, maximizing the return on investment in these assets and reducing operational carbon levels. This model can serve as a blueprint for other institutions looking to implement smart and sustainable facilities management practices.

Another driver for sustainability in the FM sector is the climate disclosure obligations for all listed companies and large non-listed companies by 2027. These companies, with revenues of at least $1 billion and total assets of at least $500 million, are required to disclose their climate-related activities. This will likely encourage more investments in proptech as companies look for ways to mitigate the effects of rising temperatures on energy costs.

The predicted rise in temperatures in 2025 will increase the demand for cooling in buildings, leading to more investments in predictive technology. Air conditioning and mechanical ventilation (ACMV) systems are already major contributors to operational costs, accounting for approximately 60% of overall energy expenses in many buildings. Optimizing these energy systems is crucial in mitigating rising energy costs. Building owners can achieve this by implementing energy-efficient solutions like energy recovery systems or thermal energy storage. They can also optimize chiller plant operations to match changing weather conditions, reducing energy waste and costs.

At a city and precinct level, extreme weather risks, such as flooding and urban heat, threaten the health and performance of critical infrastructure. To mitigate these risks, building owners and city planners can use web-based geospatial IT to identify flood-prone areas or extremely heat-exposed spaces. This can help them create a comprehensive operational plan that takes into account the risk of extreme weather events, minimize equipment failure and downtime, and optimize chiller plant operations.

The rising construction costs in recent years have prompted a shift towards adaptive reuse, with the rate of redevelopment in Singapore accelerating. According to Surbana Jurong (SJ), the costs of mechanical and electrical systems have increased by approximately 30% compared to pre-Covid levels. This trend is driving the adoption of smart design and engineering practices, including utilizing collaborative common data environments to benchmark construction and operational costs.

Platforms that support integrated digital delivery can provide real estate developers and contractors with real-time insights into key performance indicators like time, cost, quality, and safety. Surbana Jurong’s proptech platform, Podium, aims to create a digital ecosystem that connects developers, designers, and the supply chain to deliver high construction productivity and promote sustainable building practices.

By consolidating data from multiple sources, all stakeholders in the building cycle can access valuable information on design, engineering plans, construction materials, and components. This can help inform decisions on whether to redevelop or reuse certain elements of a building, known as the adaptive reuse approach. This method can save time, labor, and materials.

Post-construction, Podium can integrate with other operational platforms to track building performance metrics such as energy, waste, water, indoor air quality, and occupancy trends. This can help drive operational carbon reduction goals. The utility cost of ACMV chiller plants can quickly spiral after construction when buildings begin operations, accounting for the bulk of energy tariffs at around 60% of total operational expenditure.

Smart buildings can help mitigate the pressure of rising costs by maximizing the life cycle of capital expenditure-heavy equipment such as ACMVs, lifts, and air handling units. This can be achieved through a data-driven, long-term approach that prioritizes energy savings to offset the energy tariffs from the capital expenditure. By utilizing sensors to monitor and track the performance of each component in a building’s equipment, predictive maintenance can be implemented to reduce downtime and improve efficiency.

For example, sensors can analyze vibrations in chiller equipment to detect wear or potential failure. Heat-sensing scanners and imaging equipment can also be used to identify abnormal temperatures or heat buildup in the system. AI-powered smart monitoring systems can also be utilized to track various components of a building’s M&E system, providing detailed information to help make informed decisions on replacements and retrofits.

In conclusion, the future of FM in Singapore is heavily reliant on sustainability, driven by the mandatory energy improvement regime, climate disclosures, and rising temperatures. By embracing digitalization, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.…