Ravi Chandran
Swire Properties officially unveiled its first ultra-luxury residential project in Singapore today (April 18), “EDEN”, an exclusive apartment building inspired by Singapore’s vision as a ‘city in a garden’ and designed by Thomas Heatherwick of Heatherwick Studio.
Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Cityplaza and Pacific Place as its core holdings. In addition to Hong Kong, the Company has investments in Mainland China, the United States and Singapore.
Located at 2 Draycott Park in the prestigious District 10 Orchard Road neighbourhood, EDEN, the ultra-luxury residential project, offers 20 apartments in total, each occupying the entire floor.
Each unit in the ultra-luxury residential project has a saleable area of over 3,000 sq ft, and comes with four en-suite bedrooms.
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The concept of Eden – which represents natural unspoilt beauty – has been incorporated into the property’s design; with the aim of reconnecting residents with nature and offering a truly extraordinary living experience. The centrepieces of the project are the iconic hanging balconies featuring hand-picked tropical greenery, offering residents a ‘private garden in the sky’ – with amazing unobstructed 270-degree views and complete privacy.
“We are excited to make our Singapore debut with a phenomenal residential project in the heart of the city, and are delighted to once again work with Thomas Heatherwick after our collaboration to contemporise Pacific Place mall in Hong Kong,” said Adrian To, Director, Residential at Swire Properties.
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“Swire Properties is well-known for creating exclusive residential developments, such as OPUS HONG KONG. Thomas Heatherwick and his team have brought our vision of creating an exceptional living experience to life, and EDEN will undoubtedly set a new benchmark for sustainable ultra-luxury residences.”
Thomas Heatherwick said, “We wanted to create something distinct for Singapore to contrast a skyline filled with angular steel and glass towers. Our design recreates the verdant garden access once ubiquitous in the city’s homes, extending the landscape of Singapore from ground level through the building via hanging gardens. This is truly a home in a garden, where residents can enjoy an unparalleled lifestyle.”
Distinct Design Features
As a tribute to Singapore, the unconventional tailor-made concrete core features an abstract topographical map of Singapore’s terrain, creating a unique three-dimensional texture. The building breaks tradition and moves away from the use of a boxy floorplate.
What’s more, the project’s sustainable development features have earned EDEN a Green Mark Platinum rating from Singapore’s Building and Construction Authority (BCA). Natural ventilation is a key green component, and the cantilevered balconies offer solar shading while windows open on three sides to allow natural cross-ventilation – both reducing the need for air-conditioning and energy usage.
Concrete was specifically chosen as a building material, for the façade as well, and plays a role in the environmental performance of the ultra-luxury residential project; as its mass reduces the amount of warm air that enters the building’s interior, aiding natural cooling.
The ultra-luxury residential project, EDEN, is set to be completed in the fourth quarter in 2019, with more details to come.
As price growth across the world’s leading prime city housing markets slowed, Singapore’s luxury home price surged, just behind Berlin and Shanghai said a resent research report. The report by Savills said that with a growth of 7.7%, Singapore is among the strongest performers in luxury home price growth – but in all cases growth slowed dramatically over the year as cooling measures came into effect.
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Mr Paul Ho, chief mortgage officer of iCompareLoan, said, “with the introduction of the property cooling measures introduced in July last year, residential properties in Singapore lost a little bit of their their shine and luxury properties are not an exception.”
“Foreigners form a big segment of buyers of luxury properties and the additional buyer’s stamp duty (ABSD) is still a daunting factor to a foreign buyer,” he added.
The cooling measures involved raising the ABSD for home buyers and reducing the loan-to-value (LTV) ratio by 5 percentage points for all housing loans granted by financial institutions. For Singaporeans and PRs buying a second, third or subsequent residential property, the ABSD is raised by 5 percentage points. For foreigners, the ABSD is raised by 5 percentage points; while for entities including companies, it is raised by 10 percentage points.
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