CDL tops off diamond jubilee with seventh Top Developer Award
By Timothy Tay
/ EdgeProp Singapore |
Accepting the Top Developer award on behalf of CDL was Chia Ngiang Hong, group general manager of CDL (centre), from Bernard Tong, CEO of EdgeProp Singapore (second from right). Also on stage are (from left) Adeline Ong, senior vice president, sales & marketing; Lee Mei Ling, executive vice president and head, property development; and Jimmy Hee, senior vice president, sales & marketing. (Picture: Albert Chua/The Edge Singapore)
It has been a momentous year for real estate company City Developments Ltd (CDL). The property group celebrated its diamond jubilee last month and took home its seventh consecutive Top Developer Award at the EdgeProp Singapore Excellence Awards (EPEA) 2023 on Oct 6.
Taking the stage that night to receive the award on behalf of the company was Chia Ngiang Hong, group general manager of CDL. The developer also clinched eight more awards that recognised four of its residential projects in Singapore.
“We have many to thank for our adventurous 60-year journey,” says Chia, adding that the group’s achievements are made possible due to the unwavering support it has received from industry partners, stakeholders, collaborators, friends, and colleagues.
Building liveable homes
This year, the EPEA judging panel recognised several of CDL’s completed and uncompleted residential projects which demonstrated excellence in sustainability, design, innovation, and landscape. All its award-winning projects this year catered to the wide range of homeowners and buyers in Singapore.
For example, its recently completed 716-unit Whistler Grand at West Coast Vale swept the board to win Top Development, Landscape Excellence, Design Excellence, Sustainability Excellence, and Innovation Excellence awards in its category.
Whistler Grand was launched for sale in November 2018 and was fully sold by October 2021, with its temporary occupation permit (TOP) obtained in April last year.
Reflecting on the developer’s winning formula in crafting liveable homes that resonate with the right market, Chia says: “Aside from providing a comfortable and enjoyable living environment, a liveable home should also consider factors such as functionality, convenience, safety, energy efficiency and sustainability, which can impact overall well-being.”
Chia notes that CDL remains attuned to the evolving needs of home buyers, and this has enabled it to innovate and deliver quality homes that are well received by the market. “For example, with a greater emphasis on health, safety, and wellness in recent years, we have included more flexible space design to accommodate home-office set-ups. We have also incorporated biophilic designs that preserve our connection to nature, leveraging landscaping as green buffers,” he says.
Elevating the quality of ECs
This year, two of CDL’s executive condo (EC) projects were recognised as the best in their category — Piermont Grand was conferred the Top Executive Condominium award in the Completed (Non-Central) category, while Copen Grand won the Top Executive Condominium award in the Uncompleted (Non-Central) category.
ECs are a unique type of public housing project in Singapore that are developed and sold by private property developers to eligible Singaporean households. ECs are an important housing niche, offering condo facilities while keeping prices within reasonable reach. This is exactly what CDL was able to achieve at Piermont Grand and Copen Grand.
Copen Grand is Singapore’s first Green Mark Platinum Super Low Energy EC. (Picture: CDL)
“With Piermont Grand and Copen Grand, we have elevated the EC offering with well-curated facilities and premium fittings and finishes that are comparable to private condos, while maintaining affordability. Both projects are also designed with wellness and sustainability at its core,” says Chia.
As Singapore’s first Green Mark Platinum Super Low Energy EC, Copen Grand integrates green design, smart technology and luxury living throughout. The development incorporates renewable energy technology in the form of photovoltaic systems that tap solar power, providing partial energy replacement for the clubhouse, function room, swimming pool and gymnasium.
Piermont Grand also holds a Green Mark Platinum and the Universal Design Mark Goldplus certification by the Building and Construction Authority (BCA). The sustainability features incorporated into the development include a smart-energy and water-monitoring system with water leak detection algorithms to track and manage power and water usage in the common areas. These energy- and water-efficient features will potentially help the development to reduce over 572 tonnes of CO2 emissions each year.
Piermont Grand holds a Green Mark Platinum and the Universal Design Mark Goldplus certification. (Picture: Albert Chua/The Edge Singapore)
According to Chia, EC homes must remain a compelling alternative to private residences in Singapore. “Thus, ECs must continue to offer facilities comparable to private projects with increasing provisions to meet home buyers’ evolving lifestyle needs while maintaining overall affordability,” he says.
Innovation plans
As one of the key property developers in Singapore, CDL is keen to encourage innovation that could raise the bar for future residential developments in Singapore. “Our innovation and digitalisation efforts continue to elevate our product offerings, strengthen our value proposition and enhance the customer experience,” says Chia.
Digitalisation is at the forefront of CDL’s innovation plans. It will integrate CDL Home Sales, its in-house proprietary electronic system that provides home buyers with a more transparent and efficient buying experience, with other digital solutions within its larger in-house ecosystem such as the My CDL Home mobile app.
This app allows home buyers to view monthly updates on the construction progress of their development, including estimated TOP and information specific to their unit. The app also allows home buyers to view their billing schedule and payments made and schedule an appointment for key collection after TOP.
This type of digitalisation efforts to smoothen the customer experience, from the sales stage to the eventual handover, provides a more holistic experience and improves customer service, says Chia.
EC to launch next quarter
Meanwhile, CDL’s development teams are steaming ahead with two new launches in 2024.
The first out of the gate next year will be Lumina Grand, a 512-unit EC project at Bukit Batok West Avenue 5. It is slated for launch in 1Q2024. CDL was awarded the site in a government land tender in September last year after it submitted the winning bid of $336.07 million, at a land rate of $626 psf per plot ratio (ppr).
According to Chia, the new development will comprise ten 12- to 13-storey blocks, and the architectural design is inspired by the natural grandeur of the nearby Bukit Batok Nature Park Quarry. “To create harmony with nature, green spaces and bodies of water are thoughtfully crafted across the landscape and clubhouses to transform the development into a sanctuary for living amidst nature,” he says.
EdgeProp's Landlens tool estimates that the selling price of Lumina Grand could start from about $1,306 psf. (Map: EdgeProp Singapore)
Future homeowners at Lumina Grand can expect the development to feature energy-efficient, water-efficient, and environmentally friendly design and technologies such as solar photovoltaic panels located at the rooftops to harness sunlight to generate electricity that can be used for some parts of the common areas.
“With these technologies, the development can contribute to a reduction in material and energy waste in its daily operations,” says Chia.
Lumina Grand will offer a mix of three- to five-bedroom units. Planned facilities include a 50m lap pool, a gym, reading lounges, and dance and music rooms. CDL will share more details on the project in the run-up to its preview and launch next year.
While the final pricing list for Lumina Grand is still pending, the success of neighbouring Altura, another new EC at Bukit Batok West Ave 8, will likely be a benchmark for prospective home buyers of Lumina Grand. Last month, EdgeProp Singapore reported that a 980 sq ft unit there was sold for a record $1.55 million ($1,585 psf), marking an all-time psf-price high for a new EC unit.
The market will also be on the lookout for CDL’s upcoming project at Champions Way in Woodlands. The developer was awarded the site in a government land tender last month, after it submitted the winning bid of $294.9 million which reflects a land rate of $904 psf ppr.
“As it has been over a decade since a new private residential project was launched in Woodlands, this is a rare opportunity for CDL to create a vibrant and sustainable development alongside the government’s rejuvenation plans. With its strong locational attributes and easy access to amenities, we are excited to transform the site into a thoughtfully designed landmark that will redefine and enliven the neighbourhood,” says Chia.
The yet-to-be-named project will comprise about 350 residential units across four 11-storey blocks, an early childhood development centre, and a basement carpark. According to Chia, the project is being designed to achieve the BCA Green Mark Platinum (Super Low Energy) rating with a Maintainability Badge.
A challenging year
CDL has not been immune to challenging market conditions such as a slew of property cooling measures over the past few years, a high interest rate environment, and a more cautious macroeconomic outlook globally and in Singapore.
The company delayed the preview of Newport Residences, its 246-unit residential development on Anson Road in Tanjong Pagar, after the government issued a round of property cooling measures in April this year. The measures included doubling of additional buyer’s stamp duty for foreigners to 60% from 30%. Newport Residences is a redevelopment of the former FujiXerox Towers.
“We will continue to monitor market conditions closely and unveil the launch of Newport Residences at an appropriate time,” says Chia. “Newport Residences is a unique residential freehold project — with a prime location at the gateway of the future Greater Southern Waterfront precinct. We are not anxious as we have no time pressure to launch.”
Chia adds that CDL continues to be confident in the future of Singapore’s real estate market, and “as a proxy for the Singapore residential market, we are focused on sharpening our position as a market leader”.
CDL’s Tembusu Grand continues to resonate with Singaporeans, who voted it as one of the People’s Choice Award winners. (Picture: Samuel Isaac Chua/The Edge Singapore)
The foundation of this strategy will be to maintain its market share in the residential segment, which currently covers about 8% to 12% of new home sales annually, and ensure a healthy inventory pipeline.
In addition to its traditional strengths across a diversified residential portfolio, from ECs to high-end luxury projects, CDL will also look at elevating its track record of developing iconic mixed-use projects that incorporate a residential component, says Chia.
“This type of development opportunity helps to elevate the product and provides an integrated and convenient experience for homeowners. When opportunities avail, this will increasingly be an asset type that we will continue to pursue given the demand,” he says.
Chia adds that CDL embraces a holistic approach towards sustainable development and innovation, and this has included past company initiatives to drive productivity and environment performance improvements amongst its partner builders and consultants.
He continues: “Leveraging our leadership in sustainability and green living, we will continue to influence and enhance our supply chain in the development of our residential projects.” This will be achieved by working closely with like-minded partners to embrace energy-efficient design and low-emission technologies, he explains.
“When the entire ecosystem embraces sustainable living, this will shape the future of sustainable homes... We continue to leverage technology to improve cross-disciplinary workflows within our value chain which requires large-scale collaboration overall, while being a pioneering force to lead the industry and our value chain by championing sustainability innovation,” says Chia.
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