Tag Archives: Capitaland

Golden Shoe Carpark’s billion-dollar redevelopment plan finally unveiled

A highly anticipated redevelopment project in Raffles Place, touted for years, was finally unveiled over the week by the press. A 51-storey mixed-use development – slated for completion in the first half of 2021 – will be built on the site. It will comprise office space, serviced residences, a multi-storey carpark, a food centre and shops.

The redevelopment will be led by CapitaLand in a joint venture (JV) for an estimated cost of $1.82 billion. The JV partners are: CapitaLand, CapitaLand Commercial Trust (CCT) and Mitsubishi Estate Co (MEC).

Of the $1.82 billion development cost, about 52.6 %, or $957.8 million, was attributed to charges for the intensification of land use and other land-related costs.

At 280m high, it will be among the tallest buildings in the heart of the Central Business District. The other highlights of the plan include:

– 635,000 sq ft of net lettable area
– 29 floors of Grade A office space
– 299 serviced residences over eight storeys managed by CapitaLand’s The Ascott – five floors of carpark space
– 12,000 sq ft of retail space at ground level
– a shared four-storey-high “Green Oasis”, where tenants can hold meetings or other activities amid lush greenery
– a new food centre owned by the government, which will house former stallholders of Market Street Food Centre in Golden Shoe Car Park on the second and third levels of the new building’s podium. In the meantime, starting from 1 Aug, the stallholders will be at an interim centre next to Telok Ayer MRT station
– flexible offices and co-working spaces.

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Asia Square Tower 2 in Capitaland Acquisition plans

Capitaland is said to be in exclusive negotiations to acquire Asia Square Tower 2 from Blackrock. Based on sources, the price under negotiations is above S$2,700 psf. The recent sales of Asia Square Tower 1 in June 2016, and the GLS in November 2016 won by IOI Properties @ S$1689 psf,  demonstrate strong confidence in the office market in Marina Bay area. Tower 2 comprises of offices and the Westin Hotel. It was over 90% occupied as in end 2016.

Big welcome for d’Leedon residents

The party started at 4pm. With it came a carnival, buskers, magic shows and balloon sculpting for the children.

Food was also a highlight, not just a delicious buffet spread, but food catered from 10 famous hawkers in the area.

The highlight came at 7.30pm: A performance of a piece specially composed for the occasion by American musician William Close on the “Earth Harp”, the world’s longest playable string instrument.

And before the guests went home, they were treated to a 10-minute firework and laser show.

All this was quite a show put on for an audience of 4,000 guests – families, couples and singles – who are going to live at the 1,715-unit d’Leedon condominium along Farrer Road.

Big welcome for d’Leedon residents

Click on thumbnail to view. Story continues after photos. The Straits Times, Capitaland

  • Fireworks shooting out from the sides of the towers and rooftops of the d’Leedon condominium along Farrer Road in the finale to a grand party held for the d’Leedon residents on 25 October 2014.
  • Mr Lim Ming Yan, president and group CEO of CapitaLand Ltd, tugged the strings of the Earth Harp with musician William Close at the celebration party of CapitaLand's d'Leedon. At the event, Close set a world record as he played his new piece titled MiniSymphony For The Earth Harp on the instrument.
  • The strings of the Earth Harp were erected and stretched from the clubhouse rooftop at one end of the development to the 36th floor of another tower, making d'Leedon part of the Earth Harp. The length of one of the 16 strings is 291.71 metres, setting the world record for "The Longest Playable Stringed Musical Instrument".
  • The length of one of the harp’s 16 strings – 291.71 metres – was certified by A*STAR’s National Metrology Centre and the record-setting feat was recognised by the World Record Academy. As at end-September, the 1,715-unit d’Leedon condominium had seen sales of more than 85 per cent.
  • When in construction.
  • Artist's impression.

The hosts

Property developer CapitaLand and its joint venture partners, who held the party to mark the completion of the project.

CapitaLand chief executive officer Lim Ming Yan said: “We are pleased to have the opportunity to interact with the residents of d’Leedon and their families at one of the biggest completion parties in Singapore.”

CapitaLand also did not forget those living in the area, who would have to bear the noise from the fireworks. It gave advance notice to the project’s neighbours, providing a pair of ear plugs to each household: 10,000 pairs were given away in all.

The 840,049 sq ft, 99-year leasehold project is set to be a landmark in the area, given its height and scale. It comprises seven 36-storey towers of 1,703 apartments and 12 semi-detached houses.

Many units have unobstructed views of Singapore’s skyline, as well as the Botanic Gardens and Bukit Timah Nature Reserve.

The project also boasts a brand- name architect, Pritzker Architecture Prize winner Zaha Hadid, who will also be designing the futuristic Al Wakrah Stadium in Qatar for the 2022 football World Cup.

As at end September, 1,461 units at d’Leedon, or about 85 per cent, have been sold at a price range of $1,400 to $1,850 per sq ft. Units sold included one-bedroom units with study, as well as two-bedroom and three-bedroom units, ranging from 592 sq ft to 1,938 sq ft. Unsold units were mostly four-bedroom apartments.

About 65 per cent of the buyers were Singaporeans.

D’Leedon obtained its temporary occupation permit (TOP) last Tuesday, and residents are expected to start moving in soon.

CapitaLand said it also held a large-scale event to celebrate the completion of 1,040-unit The Interlace in September last year. The Interlace is one of the largest private residential projects here, taking up an 8ha site.

Other developers, including City Developments Limited and Far East Organisation, said they hold such parties for their residential projects as well, though not on such a large scale.

Residents were enthralled by Mr Close’s new piece titled Mini Symphony For The Earth Harp.

Strings stretched from the top of the clubhouse roof to the 36th storey of another tower, creating the longest playable stringed musical instrument ever set up and played in the world. The length of one of the 16 strings – 291.71m – was certified by A*Star’s National Metrology Centre, the custodian of the national measurement standards in Singapore.

“It is a great initiative by CapitaLand to invite the owners to come. We had chosen to buy d’Leedon because of its proximity to schools and the reasonable pricing,” said 32-year-old Ms Zhao Qian, who attended the party with her husband, parents and two-year-old son.

Mr Aaron Ching, 21, is looking forward to living at d’Leedon because of its location and range of facilities such as an aqua gym.

– See more at: http://business.asiaone.com/news/news/big-welcome-dleedon-residents#sthash.OKTHE8J0.dpuf