Realty Bites
n singapore, property news is constantly at the tip of people’s tongues. Some go into a mad frenzy when an old estate is sold en bloc for a princely sum, or when redevelopment plans for land parcels are announced. Our land is a precious commodity, which is why Singapore regularly features high up on lists that rank the most expensive real estate in the world. The sluggish climate of the past few years seems to be finally picking up. A recent report by Morgan Stanley Research predicted that local home prices would rise 8 per cent in 2018 and 2019. It is timely then that we decided to revive our Property supplement after a few dormant years. We have curated a read that is focused not just on short-term trends, but long-term returns that will surely be fodder for thought for our savvy readers. Our focus this issue falls on Robertson Quay. In the days gone by, it was my weekend hang-out. The quaint residential area had an eclectic mix of retail shops, restaurants and watering holes. Of course, there were also the live screenings of football matches at the courtyard area where throngs of fans flooded the surrounding pubs every weekend, shouting their throats hoarse and singing songs in unison, transforming the sleepy riverside community into the hottest spot in Singapore. But Robertson Quay’s star started to wane when districts such as Duxton Hill and Keong Saik began to pick up. That is, until last year. Something cool started to unravel at the quay—novel dining concepts popped up and new hotels opened their doors. This led to an exponential increase in human footfall and my old hang-out spot has become hip again. Credit goes to RB Capital and its founder, Kishin RK, who fronts the cover this issue. His real estate development firm has pumped in nearly $1b into rejuvenating the new Quayside at Robertson Quay. Kishin reveals his plans to translate Quayside’s success to other sleepy areas in need of a “Botox jab” (p.12). Meanwhile, we also asked industry leaders to weigh in on the next investment hotspots (p.8). Sustainability is also a hot topic in recent years and we have put together a list of six game-changing green buildings around the world (p.4) that are beacons of inspiration for environmental conservation. Enjoy the read while I sip my latte and while my time away at my old hang-out once again.
— Terence Lim Editor