SINGAPORE (EDGEPROP) - Boulevard 88 is a 28-storey, 154-unit freehold luxury development situated in the heart of District 10’s Orchard Boulevard. The project, by City Developments Ltd (CDL) and its joint-venture partners – Hong Leong Holdings Limited and Lea Investments – is expected to be completed in 2022.
The two residential towers are also positioned above The Singapore Edition Hotel, a luxury space conceived by American hotelier Ian Schrager and Marriott International. Boulevard 88 comprises a range of two- to four-bedroom units, and has four penthouses.
What makes Boulevard 88 unique is its environmentally friendly design. For example, the building is equipped with features to reduce energy and water consumption while encouraging eco-conscious lifestyles and habits like recycling.
The development’s orientation also allows the building to maximise natural ventilation in the common areas and dwelling units. Indoor air quality is also kept at healthy levels with the use of low-volatile organic compounds paint for all the internal walls.
Thanks to these features, Boulevard 88 has earned the BCA Green Mark Gold Plus Award. On Oct 18, CDL also bagged an award for Sustainability Excellence at the EdgeProp Singapore Excellence Awards 2019 for the development.
According to CDL’s integrated sustainability report 2019 released in March, it is the first Singapore real estate company to set carbon emissions intensity reduction target of 59% as validated by Science Based Targets Initiative. The group also pledged to construct at least one Super Low Energy Building in the next five years, and has achieved more than $24 million in savings due to energy-efficient initiatives and retrofitting at eight office buildings from 2012 to 2018.
“Climate change has become a mainstream political, business and social issue,” says Sherman Kwek, CDL group chief executive officer, in a media release.
He adds: “Today’s investors and consumers are also increasingly expecting socially responsible brands and products. The benefits of climate action are greater than ever before, while the costs of inaction continue to mount. For more than two decades, CDL has integrated sustainability into all aspects of our business and we continue to accelerate our actions to tackle climate change. These efforts will not only improve our ESG [environmental, social and governance] performance but also unlock the opportunities in a climate-resilient economy, and future-proof our business for sustained growth.”
Boulevard 88 is designed by internationally renowned architect Moshe Safdie, who was also behind landmarks like Marina Bay Sands Integrated Resort and Jewel Changi Airport. At Boulevard 88, there is a Sky Club for private social functions, a Sky Kitchen for in-house fine dining, a Sky Lounge, a Sky Gym, and an infinity pool that offers views stretching from Orchard Road to Singapore Botanic Gardens.
According to caveats lodged with URA Realis, since its release there have been 79 transactions at Boulevard 88 (as at Oct 22).
An average psf price of $3,690 is attained and all the four penthouses have been sold. On June 3, the biggest penthouse – at 6,049 sq ft – was sold for $31 million ($5,125 psf), making it the most expensive transaction there so far.
The latest transaction at Boulevard 88 was for a 1,313 sq ft unit on the 10th floor, which was sold for $4.625 million ($3,522 psf) on Oct 11.
This followed three transactions which had crossed the $10 million mark. On Oct 4, a 2,799 sq ft, fourth-floor unit, was sold for $10.25 million ($3,662 psf). A 13th-floor, 2,777 sq ft unit was purchased at $10.57 million ($3,805 psf) on Oct 3, while another similar-sized apartment on the ninth floor went for $10.399 million ($3,745 psf) on Sept 24.
For price trends, recent transactions, other project info, check out Boulevard 88 project research page
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