Singapore

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Singapore’s version of New York City’s High Line is fast becoming a reality, with the masterplan and concept design of the first stage of turning an unused rail corridor into public space now complete.
The Urban Redevelopment Authority (URA) of Singapore held an international competition to transform the former Keretapi Tanah Melayu (KTM) Railway Line into a publicly accessible space.
The total decommissioned rail corridor site is 24 kilometres long and is about 100 hectares in area, stretching from north to south across Singapore. Once complete, people will be able to cycle or walk its entire length, or access parts of the path at their leisure.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/22/sing1.jpg" alt="">
Competition winner Nikken Sekkei and its partner, Australasian design firm The Buchan Group, collaborated to develop the project’s graphics and wayfinding strategy.
The Buchan Group Brisbane director Gary Edmonds said the transformation of the rail corridor has been an exciting project to be part of.
“This is Singapore’s 24km version of New York City’s High Line,” he said.
“As well as being a diverse physical environment, the rail corridor has immense spatial reach and is a timeless legacy for Singapore given its ecologically sensitive environment.
“The revitalisation of the decommissioned rail route will change how Singaporeans engage with the outdoors.
“We see it as not merely a linear green corridor but rather a people-centric symbol that stitches the nation with a collection of lives, growing into a spine that inspires and symbolises a new healthy and active lifestyle of Singapore.
“The wayfinding strategy establishes seamless connectivity for pedestrians and cyclists, helping to create an inviting space for exploration and discovery.
“With its yellow and black colour palette, the wayfinding signage references the rustic character of the former railway and its overall identity as a green corridor.
“Walkers, joggers and cyclists are able to engage with the wayfinding program and immediately identify what their location is, how many kilometres they’ve covered and distance to amenities and rest points.
“There is also interpretive signage along the path with more detailed information about art installations, adjacent facilities and botanical descriptions.”
The Urban Redevelopment Authority of Singapore is currently evaluating the proposals for implementation over the next few years.
 
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jrobinson-rf4aSBido9

Project paths the way in Singapore for a High Line style corridor

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Feuding Singaporean investors have joined forces to sell their neighbouring Melbourne development sites, just days after one of them pulled the plug on its proposed 71-storey Tower Melbourne skyscraper.
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Chip Eng Seng owns 150 Queen Street where legal action by his neighbour brought demolition of the existing building to a halt in 2013.
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CEL has ended its long-running dispute with neighbour, Colonial Range, a company controlled by the wealthy Singapore-based Chow family.
Now the two developers have joined forces to quietly offer their combined Queen Street sites for sale.
Their are reported $150 million to $200 million hopes for their combined blocks at 140 and 150 Queen Street and 27 McKillop Street that cover more than 2500 square metres
The Age reported there had been six legal cases played out in two Supreme Court appearances, a Victorian Civil and Administrative Tribunal case, several Building Appeal Board sittings and a formal complaint to Victoria's ombudsman.
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Backroom negotiations in Singapore between Chip Eng Seng and the Chows cleared the way for the site offering.
The landholdings are being marketed off market through Colliers International.
CEL Australia is rescinding the contracts on <a href="https://www.urban.com.au/news/77720-tower-melbourne-stuck-in-demolition-dispute-so-556-off-the-plan-contracts-cancelled" target="_blank">the Tower Melbourne (pictured above)</a> with some 556 plus buyers.
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CEL Australia had previously advised its first priority "has always been to deliver Tower Melbourne in line with its vision for the project, and as such, has done everything within its legal power to try to reach a resolution."
Regrettably, it has become increasingly apparent that there is still no resolution in sight, and with further proceedings still pending, Tower Melbourne in its current form is no longer viable for CEL Australia to develop, it advised last week.
CEL Australia retains projects, Williamsons Estate Townhouses and Willow Apartments in Doncaster, which are well under construction with settlements to occur in late 2017/early 2018. 
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Feuding Singaporean developers combine in surprise Melbourne site offering

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Portfolio deals worth US$13.0 billion underpinned income-producing commercial real estate investment in Asia Pacific, where volumes were little changed in the third quarter of 2016 (Q3 ‘16) compared to a year earlier.
Analysis by Real Capital Analytics (RCA) revealed that these large transactions masked a generalised slowdown across the region caused by investor caution and a mismatch in pricing expectations between buyers and vendors.
Completed sales of properties in the region, excluding development sites, totalled US$30.4 billion in Q3 ‘16, 1.1% weaker than the same period a year earlier, according to RCA data.
The region saw fewer active buyers and deals completed in July through September, with portfolio deals accounting for 43% of total investment volumes.
For the first nine months of the year, investment declined 18% year-on-year (YoY) to US$84.3 billion.
Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said high asset prices as well as economic, financial and political concerns, that caused a slowdown in activity in the first half of the year, continued to impact investment decisions in the Asia Pacific region.
"China, however, bucked the trend as it outperformed all other markets in the region during Q3 ’16, overtaking Australia as the second most active market by transaction volume.”
Offices were the best performing sector in Q3 ’16. It was the most active sector in eight of the region’s leading cities - Tokyo, Hong Kong, Singapore, Seoul, Sydney, Shanghai, Beijing and Melbourne. The average transaction size was US$80.0 million, or 2 percent more than in Q2 ‘16, underscoring investors’ preference for core, secure income-producing assets.
Prices, however, remained broadly unchanged at record highs, except in Australia, where yields continued to compress.
<a href="/images/2016/11/08/Chart%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/08/Chart%201.jpg" alt="">
In Mainland China, there were US$10.0 billion in direct real estate transactions recorded in Q3 ‘16, representing 28 percent YoY growth.
While this increase was in part due to the completion of a number of mega portfolio deals during the quarter, underlying appetite for Mainland China real estate remains robust.
In Hong Kong, activity continued to be boosted by Mainland Chinese investors’ purchases, based on confidence fuelled by relatively limited new supply and low vacancy rates.
Total transaction volume in Hong Kong reached US$2.8 billion in Q3 ‘16.
Together with Mainland China, Hong Kong is the only other market in the region currently performing above their long-term volume averages.
In Australia, market sentiment was positive, supported by relatively stable volumes of US$5.1 billion, which while down 13 percent YoY, is still around its long-term average.
Prices continued to trend upwards, with yields compressing across all asset classes and geographies.
Analysis by RCA revealed that the premium to Australian government bond yields remained wide in historical terms, indicating that asset prices could still rise further.
In Singapore, overall volumes grew by 54 percent YoY on large but limited acquisitions primarily within the office sector, notably the sale of a stake in Capital Square by Keppel Land to ARA Asset Management.
In South Korea, where 90 percent of investors are domestic, investment volumes reached US$2.8 billion in Q3 ‘16, more than twice the level from a year ago.
“South Korean investors have been very active both at home and internationally. Interestingly, South Korean institutions were Asia Pacific’s most prolific investors outside the region, making US$4.8 billion in purchases year-to-date. This pattern is likely to continue with US$2.8 billion worth of additional purchases still pending according to our calculations,” Blazkova from RCA added.
In Japan, volumes fell 27 percent YoY to US$6.8 billion on a lack of suitable stock and a reluctance by buyers to pay current prices.
Its record high asset prices, a strong yen and competition from domestic real estate investment trusts (J-REITs) are leading to what could be a structural shift, as international investors turned net sellers there for the first time in six years, RCA data showed.
GE Capital and Fortress were among the notable international institutions to have disposed of assets in Japan during Q3 ’16.
In the region, cross-border transactions continued to increase in importance for the quarter, accounting for one-third or US$11.5 billion of the value of all transactions in the region in Q3 ’16.
However, proportionally this was mainly due to domestic investors pulling back rather than a strong expansion of capital deployment across borders.
For the third year in a row, investments by foreign investors into Asia Pacific declined, standing at less than US$10 billion currently compared to the peak of US$38 billion in 2007. Asian investors have been stepping in to fill the gap.
Historically, Singapore capital has been the most nimble and aggressive in investing across the Asia Pacific region.
It remains an important source of capital, but over the last nine months Chinese and Hong Kong investors have become the most dominant foreign source of capital within the region.
So far this year, Chinese investors have purchased US$3.9 billion worth of assets in Hong Kong and made US$1.5 billion worth of investments in Australian property.
RCA’s Blazkova concluded that uncertainty about economic growth, deflationary pressures and prospects for interest rates, combined with geopolitical risks, are weighing on investor sentiment.
"While the low interest rate environment militates for real estate investment, few investors are prepared to pay asking prices for a dwindling number of assets available in the market as owners adopt a buy-and-hold strategy.
"Nonetheless, the region continues to present good opportunities and we can expect creative approaches especially from foreign investors that wish to invest in the Asia Pacific region.”
The Asia Pacific Capital Trends report also revealed:
• The single largest property sale in Q3 ’16 was the US$658.7 million sale of a stake in Jinqiao Life Hub to Chongbang Development by Keppel Land.
• The largest portfolio transaction was CITIC’s US$4.7 billion (RMB 31.6 billion) residential assets sale to China Overseas L&amp;I.
• Ten cities accounted for 65 percent of overall activity for the first nine months of 2016, as investors continued to focus on city or urban area performance rather than countries.
• New institutional capital is being led by Chinese insurance companies, particularly China Life, Anbang and Ping An, with cumulative domestic and international investments of more than US$10 billion each since early 2012.
• Chinese developers continued to increase their land bank, acquiring US$226.9 billion in development sites over the first nine months of the year. Average development site prices have increased by 54 percent YoY in Q3 ’16, RCA data shows.
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Asia Pacific commercial property investment stabilise in Q3 with portfolio deals masking slowdown on pricing stand-off

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Having been to Singapore on numerous occasions and marveling at the seemingly constant state of change the island nation has embarked upon, today I felt it appropriate to highlight a handful of Singapore buildings that if transplanted in Melbourne, would provide a positive outcome for our magnificent city.

On a recent visit I avoided the numerous brew pubs (sort of) in order to meander with camera in hand and take in all that Singapore's built form has to offer. Here's five of my picks:

<h2>#5: Bugis+</h2>

Melbourne shopping centres are a drab, uninspired affair. Highpoint, Chadstone and Centro the Glen are epitomised by cream precast panels; inactive and uninviting. Bugis is Singapore's shopping stronghold and the Bugis+ retail development is a shining example of what retail centre facades should be. Green, bright, and interesting while masking the conventional retail centre behind, Bugis+ gained a Green Mark platinum rating from Singapore's Building and Construction Authority (BCA) during 2012.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_7098.jpg" rel="gallery-all" title="Bugis+ - an activated facade"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Img_7098.jpg?itok=yNCyFbpT" title="Bugis+ - an activated facade" width="580"></a>

<figcaption>Bugis+ - an activated facade</figcaption></figure>Ideal Melbourne location: take your pick, there's no shortage of drab shopping centres floating around, Chadstone of course comes to mind

<h2>#4: ION Orchard</h2>

If any development embodies the island states uncompromising attitude toward its urban realm ION Orchard may just be that building. Located on Singapore's ritzy Orchard Road the complex is heavy with quality, aesthetic and detail while also drawing people toward its active area with a large canopy providing respite from Singapore's blistering sun while a MRT Station ensures a constant buzz. Reminds me of the Honda television advert a few years back, "Isn't it funny when things just work."

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_7076.jpg" rel="gallery-all" title="ION Centre encapsulates the exceptionally high design standards of Singapore"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Img_7076.jpg?itok=cMRZIG7e" title="ION Centre encapsulates the exceptionally high design standards of Singapore" width="580"></a>

<figcaption>ION Centre encapsulates the exceptionally high design standards of Singapore</figcaption></figure>Ideal Melbourne location: retail and associated tower, sounds like an evolved version of what is South Yarra's tallest was to be; Capitol Tower at 623 Chapel Street

<h2>#3: Marina Bay Sands</h2>

Truthfully it's not about this particular building but what it represents. Melbourne and Singapore are similar in many regards, one such area being their international regard. Neither city have the 'defining' Sydney Opera House or Golden Gate as such, and Marina Bay Sands may not be that to Singapore but is does create interest. Funny how many people mention they'd like to go to Singapore purely to experience the 200m high, overhung infinity pool. International recognition is important, and Marina Bay Sands provides it; which one Melbourne building can lay claim to that title?

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_7131.jpg" rel="gallery-all" title="Not the Zepplin"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Img_7131.jpg?itok=p8zMcz6v" title="Not the Zepplin" width="580"></a>

<figcaption>Not the Zepplin</figcaption></figure>Ideal Melbourne location: a notion without a specific location in mind yet Lend Lease had at one point ambitions of creating an iconic Melbourne structure on their Central pier, Docklands site - why not?

<h2>#2: Gardens by the Bay</h2>

That such vast amounts of land so close to a major city centre can be redeveloped at a government's whim is rare in itself. Wedged between the Singapore Strait and Marina Bay Sands, Gardens by the Bay is a venue where locals and tourists alike flock to relax, learn and enjoy. Defined by two large, domed steel and glass structures, Marina by the Bay would slot into the Melbourne landscape quite easily, the only question is where?

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_7221.jpg" rel="gallery-all" title="A fantastic concept now baring reward - Gardens by the Bay"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Img_7221.jpg?itok=GwkVp7Ct" title="A fantastic concept now baring reward - Gardens by the Bay" width="580"></a>

<figcaption>A fantastic concept now baring reward - Gardens by the Bay</figcaption></figure>Ideal Melbourne location: a longer term prospect, but how appropriate Melbourne's equivalent would one day replace part of the current Port of Melbourne abutting Citylink/Bolte Bridge

<h2>#1: PARKROYAL Singapore</h2>

This recent addition to Singapore's skyline is simply awesome! The 'Hotel in a garden' complex is indicative of Singapore's willingness to incorporate greenery into many of its contemporary towers, and it works exceptionally well. <a href="http://architizer.com/blog/when-buildings-mimic-nature-singapores-parkroyal-hotel/">Architizer</a> describes the building as a building that "Mimics natural forms with a cave inspired entry in the base and a series of rainforest terraces jutting out from the hotel room blocks."

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_7263.jpg" rel="gallery-all" title="PARKROYAL Singapore - simply stunning!"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Img_7263.jpg?itok=8P6B44WR" title="PARKROYAL Singapore - simply stunning!" width="580"></a>

<figcaption>PARKROYAL Singapore - simply stunning!</figcaption></figure>Ideal Melbourne location: anywhere. Sublime and supreme!

See more images of the selected five buildings below.
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