This Review of Residential Projects by Far East Organization is part of an ongoing series of articles about the group’s construction and development activities. This article will examine Amber Sea, One Holland Village, Far East Hospitality Trust, and Allgreen Properties. We will also discuss the future of Far East Organization as a developer. This Hong Kong-based firm has submitted multiple bids for various projects. Far East Organization has a 50:50 joint venture with Sino Group.
This freehold condominium project is being developed by a subsidiary of the Far East Organization, a well-established local property developer. With a solid team of property experts, the Far East Organization has successfully developed various lifestyle residential projects. From boutique shopping malls to high-end luxury developments, the group is known for its creativity and innovation. Amber Sea will feature 132 exclusive units. The condominium is scheduled for completion by June 2025.
Amber Sea consists of a 22-storey block with 132 units. The unit types are spacious and elegantly designed. The average floor area is over a thousand square feet. This is a considerable area and can rival the likes of One Meyer and Nyon. The units may be large but they still provide a feeling of homeliness. Far East Group is the developer behind Amber Sea.
One Holland Village
Developer Far East Organization has announced the details of the One Holland Village project. The mixed-use development will include 500 carpark spaces on two basement levels. The developer plans to split the residential units into three blocks. Each block will target a different market segment. The One Holland Village condominium will offer a variety of one to five-bedroom units. The project will be located near Holland Avenue Park. The site will be a perfect fit for those who wish to enjoy a more urban lifestyle.
The development is a mixed-use community, with low-rise apartments and luxury residences. It will also feature community spaces and retail space. Signing up for One Holland Village’s retail space includes Cold Storage, Guardian, and the non-profit arts group The Rice Company. The project is being developed by Far East Organization, Sekisui House, and Sino Group. The developer purchased the land in May last year for $1.213 billion.
Far East Hospitality Trust
In our recent report, we examined the performance of Far-East Hospitality Trust. It holds 286 units in 9 properties and a large portion of its revenue comes from hotel projects. Far-East Hospitality Trust is a master lease structure which protects investors from rental revenue declines during economic downturns. It captures upside with a variable rent component, and the presence of a solid sponsor can provide inorganic growth opportunities.
The Far-East Hospitality Trust’s hotel segment captures a healthy mix of travelers in Singapore. In 2018, the hotel segment generated 66.9% revenue from leisure and 33.1% from corporate travelers. The serviced residences segment is dominated by corporate travelers, with leisure travel contributing only 26.7% of the segment’s total revenue. The trust’s hotel projects are well-located and close to transportation, medical and shopping centers.
Founded in 1986, Allgreen is the real estate arm of the Kuok Group. Its properties are recognized for their craftsmanship and quality. Listed on the Singapore Stock Exchange in May 1999, Allgreen has a diverse portfolio in Singapore. The company has also expanded to Vietnam and China, where it takes part in various development projects. Its properties have won numerous awards. Apart from residential projects, Allgreen also manages retail properties, office spaces, hotels, and serviced apartments.
The developer is known for its experience in the industry, with many projects in the area. A recent review of Allgreen Properties, which is a subsidiary of the Kuok Group, reveals its expertise in the luxury housing segment. Projects by the developer include Bukit Regency, Fourth Avenue Residences, and Juniper Hill. Moreover, there are no major problems with its projects – they are all well-designed and boast of excellent amenities.