YTL’s 3 Orchard By-The-Park: A catalyst for sales, benchmark prices at Orchard Boulevard

The luxury, 77-unit, 3 Orchard By-The-Park was completed in 2017
YTL Land & Development’s luxury condo, 3 Orchard By-The-Park, walked away with the most awards for a completed development at the EdgeProp Singapore Excellence Awards 2019, which was held at a gala dinner at the JW Marriott Singapore on Oct 18. It swept up five awards across multiple categories: Design Excellence, Top Residential Development, Top Boutique Development, Top Luxury Development and People’s Choice.
It was a ringing endorsement for the project designed by Italian architect and designer, Antonio Citterio, of Milan-based design firm, Antonio Citterio Patricia Viel & Partners. Citterio is famous for his designs of Bvlgari Hotels and Resorts in Milan, London, Bali, Beijing and Shanghai. It marked Citterio’s first residential development in Singapore, and his maiden high-rise project in Southeast Asia.
For YTL Land & Development, 3 Orchard By-The-Park’s multiple wins further validate the confidence of the executive chairman of YTL Group of Companies, Francis Yeoh, in Orchard Boulevard over a decade ago. He had purchased the former Westwood Apartments en bloc for $435 million ($2,525 psf per plot ratio) in November 2007.
“It was the first en bloc sale of a residential development with an Orchard Boulevard address,” relates Joseph Yeoh, son of Francis Yeoh and vice president of YTL Land & Development. The purchase of Westwood Apartments set a new benchmark for en bloc sales in terms of psf ppr price that remained unbroken for 11 years. It wasn’t until the sale of Park House to Hong Kong-listed Shun Tak Holdings for $375.5 million in June 2018 that a new record price of $2,910 psf ppr was established.
Yeoh (left) receiving the award for Design Excellence at EdgeProp Singapore Excellence Awards on Oct 18

‘Rare and coveted freehold address’

There are only five developments today that can truly boast of having an Orchard Boulevard address. “This makes it especially rare and coveted,” says Yeoh.
The tree-lined Orchard Boulevard, which stretches from Orchard...