Archive for February 2nd, 2010
Posted by Singapore Property Match on February 2, 2010
In this era of homeland security, a building should not be a house built on sand.
When a truck bomb went off outside a building in Oklahoma in the United States in 1995, most of the 168 victims died – not from the direct blast effects, but from the partial collapse of the building.
There would have been more survivors if it had been designed against progressive collapse, that is, the failure of one part leading to the crumbling of a much larger part, or even the entire building.
In hindsight, too, the 18-year-old building could have been retrofitted with added structures to strengthen it.
Meanwhile, one outcome of the Sept 11, 2001 terrorist attacks in the US is a worldwide drive to strengthen the security design of buildings.
In Singapore, the Ministry of Home Affairs (MHA) on Jan 20 produced a 138-page document to help those who design, construct and manage buildings to protect their properties against terrorist strikes.
The draft version of the Guidelines for Enhancing Building Security was first released in November 2007.
Home Affairs Minister Wong Kan Seng, in his foreword, called on the building and construction community to use the document to improve building security.
He described it as a ‘comprehensive compilation of international best practices in building security that can be applied to Singapore’.
The document cited several cases to bring home the reality of the regional threat.
Last July, seven people were killed and scores injured when suicide bombers breached the JW Marriott and Ritz-Carlton hotels in Jakarta and set off explosives.
The document noted that the terrorists’ targets ‘are now commonly hotels or resorts’.
It recommended different tiers of protection, based on factors like the number of people who use the building, its purpose, nature of activity and if it is symbolic or iconic.
The proposed modes of protection include access control and alarm systems, vehicle anti-ramming barriers and even how vegetation can help or hinder security.
‘Trees with a trunk diameter of larger than 50cm can be used to stop a vehicle, depending on the protection level required,’ said the document.
But thick vegetation can also be exploited to hide bombs and weapons, it said.
Building owners may claim that such measures are costly, but the ministry said costs will not increase much if security concerns are addressed from the beginning – during the design stage.
This is the practice of City Developments, which said security issues are addressed from the design phase of each new development, encompassing architectural design, building security infrastructure and the needs of the various stakeholders.
Its spokesman added that building security was of the utmost importance.
‘In our existing commercial buildings, we continually review security technology and innovation with the aim of enhancing security within our buildings,’ she said.
For example, independent assessors conduct regular security reviews at Republic Plaza. The company is studying the MHA’s guidelines ‘with the view of further enhancing security within our premises’.
At Marina Properties, which manages Millenia Tower and Centennial Tower, an annual budget is dedicated to upgrading security equipment and staff training.
Its measures include secure card access, regulated driveways to prevent unauthorised parking and the recording of vehicles moving in and out of the compound.
There are cameras at strategic locations, including the lifts, while security officers conduct regular patrols, sometimes in plainclothes.
‘Flowerbed bollards’ function as anti-crash barriers, proving that strong buildings need not look like fortresses.
A spokesman for United Engineers said: ‘The beauty of a good design lies in functionality and aesthetics co-existing. With advanced design technology and good creativity, this is increasingly possible.’
Source : Sunday Times – 31 Jan 2010
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Posted by Singapore Property Match on February 2, 2010
DEVELOPMENT of the planned Underground Science City (USC) at Kent Ridge is gaining momentum, with JTC Corporation now embarking on a thorough soil and rock investigation of the site.
This follows its award of a tender in December to a Swiss-Singapore consortium to get detailed designs and cost estimates for the project which spans a 20-hectare geological formation below Science Parks 1, 2 and 3 as well as Kent Ridge Park.
The consortium of Amberg Engineering and Jurong Consultants has a 13-month timeline to complete that study, with the results expected in January next year, a JTC spokeswoman said.
Amberg specialises in underground construction like road and railway tunnels and has built caverns for the Swiss Army and Swiss Air Force while Jurong Consultants is part of the Jurong International Group.
Jurong International said on its website that the study will “look into the potential of underground caverns for research laboratories and data centres. It will reassess the maximum build size for the cavern complex as well as other environmental and demographic factors”.
The JTC spokewoman said that the latest soil and rock study – a tender for which was called on Friday – is part of ongoing feasibility studies for the project. “It is still at conceptual stage at this point,” she added.
The soil and rock investigation is expected to take about four months.
The appointed consultant-contractor will undertake detailed studies like rock core drillings to obtain data down to approximately 150 metres, and to investigate the quality and properties of bedrock at the site.
The consultant will also need to have specialists such as an engineering geologist or geotechnical engineer, an experienced drilling specialist and a geophysicist for the study.
Additionally, the JTC tender also specified that the contractor should have a geologist who has good knowledge and 10 years? experience in local geology in Singapore or similar soil/rock formations like the Jurong Formation.
With land getting scarce, the USC is one of several underground projects which Singapore is now pursuing.
Source : Business Times – 1 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
I REFER to last Saturday’s Forum Online letter, ‘Is there a code for property agents?’ by Miss Yusnita A. Raby.
PropNex Realty does not distinguish between agents who specialise in sale, purchase or rental transactions of residential or commercial property, when it comes to certification. The reason is that we feel that all agents, regardless of the area in which they specialise, need to be familiar with industry policies, practices and ethical guidelines.
The Common Examination for Salespersons and Common Examination for House Agents have been previously approved as acceptable entry-level qualifications for new agents, which is why PropNex Realty strongly encourages all agents to attain these certifications.
With regard to the minimal educational qualifications for new agents, we understand that the authorities are currently working on setting a standard to be applied.
Finally, concerning the employment of agents who have not declared commissions or submitted transactions before, there is currently no central registry that tracks such errant behaviour.
We hope that the new regulations to be announced by the authorities will implement such a central registry for greater monitoring of agents who have acted unprofessionally.
On our part, PropNex Realty has terminated the services of many agents who have not submitted transactions before. We do not condone such unethical behaviour and will not allow an agent to join us if we knew he had previously failed to submit a transaction.
If Miss Raby or any other members of the public have evidence of PropNex agents engaging in such unethical practices, we invite them to contact us via our website at www.propnex.com and help us eradicate unprofessionalism in the industry.
Adam Tan
Corporate Communications Manager
PropNex Realty (subsidiary of P & N Holdings)
Source : Straits Times – 1 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
I REFER to Miss Yusnita A. Raby’s Forum Online letter last Saturday, ‘Is there a code for property agents?’ Currently, the Common Examination for Salespersons (CES) is a prerequisite for estate agents who intend to be accredited with the Singapore Accredited Estate Agencies (SAEA). The syllabus of the CES course taught in SAEA’s 18 approved training centres (PropNex Realty is one of the approved training centres) includes landlord and tenant law, leases, the selling of private residential, HDB, commercial and industrial properties, as well as properties under construction.
Ms Raby can refer to SAEA’s website, www.saea.org.sg, for further details. It is applicable to all estate agents, regardless of their fields of interest.
Ms Raby may also wish to know that estate agents accredited by SAEA are to abide by its code of conduct and ethics which, among others, states that accredited agents are not to engage in any practice, act or omission that will bring discredit to the profession and to observe principles of professional etiquette with other estate agents.
Not declaring or submitting commissions due to the estate agency is an unethical practice. Estate agencies would generally dismiss such a defaulting estate agent on the grounds of contractual breach as well, and they would keep records of such termination. Estate agencies may check the references of any estate agents they intend to recruit from the previous companies they worked with before contracting them. Accredited estate agencies also notify SAEA if there are accredited agents or salesmen involved so it can start appropriate disciplinary proceedings.
However, in the current regime, accreditation is not mandatory by law. Thus SAEA does not have records of all cases and may not be able to initiate action against unaccredited agents who are found to be unethical.??
Regarding minimum qualifications to be an estate agent, there are currently no mandatory entry requirements to the industry. Estate agencies normally take in applicants who have two or three O-level passes. SAEA’s basic requirement for accreditation is either Common Examination for House Agents, CES or other approved equivalent qualifications.
The Government announced last year that a new regulatory framework for estate agents will be put in place this year and we believe Ms Raby’s concerns, shared by many, will be addressed as a result.
Dr Tan Tee Khoon
Chief Executive Officer
Singapore Accredited Estate Agencies
Source : Straits Times – 1 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
The Economic Strategies Committee (ESC) on Monday gave extensive recommendations to ensure energy sustainability and the full optimisation of Singapore’s land space, given the island-state’s limited resources.
Among the plans is a new waterfront city at Tanjong Pagar, currently a port area comprising Keppel and Pulau Brani. The current port lease in the area expires in 2027.
The land area is similar in size to Marina Bay and the committee believes it can potentially allow for a substantial expansion of the business district, integrated with waterfront housing, hotels and other lifestyle attractions.
The committee said there is also a need for an underground master plan. It said the government should catalyse the development of underground space over the next decade.
The committee also emphasized a need to develop subterranean land rights, a valuation framework and to establish a national geology office.
Besides land constraints, Singapore also faces energy resource constraints. The committee suggested that Singapore study the feasibility of using nuclear energy in the long term, an idea which Prime Minister Lee Hsien Loong in 2008 said he “hasn’t ruled out”.
The ESC said the option could help meet base load electricity demand as well as Singapore’s energy security in the long run.
In the medium term, the committee suggested Singapore should explore coal and electricity imports to diversify its energy sources. Importing energy will also free up valuable land in the country.
Source : Channel NewsAsia – 1 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
Move a prelude to proposed listing of logistics trust
LOGISTICS group CWT Limited has proposed the sale and leaseback of two of its logistics facilities in a deal worth $445 million.
CWT will sell CWT Commodity Hub and CWT Cold Hub to Cache Logistics Trust, for the purposes of Cache’s eventual public listing as Asia’s first logistics-focused real estate investment trust.
Cache, whose setting up is subject to regulatory approval, will be managed by ARA-CWT Trust Management (Cache) Limited. CWT will have a 40 per cent stake in the manager. The remaining stake will be held by ARA Asset Management Limited – a real estate fund manager tied to Hong Kong tycoon Li Ka-shing’s Cheung Kong group.
The trust’s property manager will be Cache Property Management Pte Ltd. CWT will have a 60 per cent stake in the property manager and the remaining 40 per cent stake will be held by ARA.
CWT said it will book a one-off gain of $157.7 million from the sale of the two logistics facilities, which are valued at $443 million. They are part of CWT’s primary assets, located close to PSA Terminals, major ports and Singapore’s central business district.
Cache will pay $445 million for the two facilities, of which $65 million will be settled in the form of Cache units. The rest will be paid for in cash.
CWT will use the sale proceeds to expand its logistics business and to settle its outstanding borrowings early, which it says will result in a significant boost to the group’s financial muscle and competitiveness in the region.
In its statement yesterday, CWT also explained that Cache will be the first of its kind in Asia to capitalise on the positive outlook of the global logistics sector and the synergistic business models of CWT and Cache.
Cache holds an investment mandate that targets logistics properties in the Asia-Pacific region, with an initial portfolio of six logistics properties in Singapore, including CWT Commodity Hub and CWT Cold Hub.
CWT said Cache is expected to leverage on the rights of first refusal granted by CWT and the strengths of CWT to ‘pursue yield-accretive acquisitions to achieve long term, regular and predictable distributable income for unitholders’.
Loi Pok Yen, group CEO of CWT, said: ‘The creation of CLT (Cache) to invest in yield-accretive logistics properties in Asia is a historic milestone and enables CWT to own a capital-efficient asset-owning vehicle to complement our core logistics business operations as well as enhance the group’s ability to expand its business regionally and globally.’
‘In addition, the sale and leaseback will enable the group to participate in CLT through its holdings of Cache units and derive a stable income stream from CLT’s distributions,’ he said.
CWT is the largest listed logistics company in South-east Asia, offering integrated logistics solutions to the chemicals, commodities, automotive, marine, oil & gas, defence and industrial sectors.
Its shares closed half a cent down at 93 cents.
Source : Business Times – 2 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
ROLLS-ROYCE yesterday commenced construction of its $700 million Seletar Campus which is expected to become fully operational by mid-2012.
The 15.4ha campus at the Seletar Aerospace Park will comprise a Trent aero engine assembly and test facility, a wide chord fan blade (WCFB) manufacturing facility as well as a regional training centre and advanced technology centre.
The engine facility has a designed capacity of 250 engines a year while the fan blade plant will initially be able to manufacture 6,000 pieces a year, with the possibility of expanding to 7,600 blades with further investment.
These products are currently made in Rolls-Royce’s plants in the UK but management emphasised that the Singapore facilities are meant to complement, and not replace, these.
‘What we’ll see is a facility with massive experience in the UK partnering with a new facility . . . to achieve for both facilities increased productivity and lowering of costs,’ said Rolls-Royce Singapore Southeast Asia regional director Jonathan Asherson. There will also be likely downstream effects from the manufacturing process as more of the supply chain is moved to Asia to feed the plants.
Typically 70 to 80 per cent of production process is outsourced, Mr Asherson said, and this would naturally likely lead to more involvement of local supply chain players. As other engine manufacturers such as Pratt & Whitney set up in Singapore, there will also be more suppliers coming in to service them and this will benefit all the manufacturers, Mr Asherson said.
It made sense to locate the plants in Singapore because Asian growth is the highest for Rolls-Royce by region with some 40 per cent of the order book coming from the region, he added. In addition, ‘it would be a logical progression’ to do design work at the Singapore facility to make full use of the talents available.
‘Singapore is an important regional hub for Rolls-Royce and we are very pleased to be expanding our presence here,’ said COO Mike Terrett.
‘We are pleased that Rolls-Royce has chosen to locate its Asian campus in Singapore, making it the home in Asia for some very sophisticated aerospace capabilities,’ said Trade and Industry Minister Lim Hng Kiang, who was guest of honour.
Source : Business Times – 2 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
I WAS shocked last Friday to read a notice pasted in the lift lobby area announcing that HDB would begin construction this month of two blocks of one- and two-room rental flats on the green field between Block 475 and 476 Pasir Ris Drive 6.
Residents were not informed prior to the notice.
There was no attempt to make sure that affected residents were well informed nor was there any proper feedback channel established.
The field has provided much needed space in a cramped HDB environment, and adding another two blocks of flats would not only deprive the residents of greenery, but also their privacy. This is only some of the concerns of the residents.
I WAS shocked last Friday to read a notice pasted in the lift lobby area announcing that HDB would begin construction this month of two blocks of one- and two-room rental flats on the green field between Block 475 and 476 Pasir Ris Drive 6.
Residents were not informed prior to the notice.
There was no attempt to make sure that affected residents were well informed nor was there any proper feedback channel established.
The field has provided much needed space in a cramped HDB environment, and adding another two blocks of flats would not only deprive the residents of greenery, but also their privacy. This is only some of the concerns of the residents.
Shouldn’t HDB concentrate on building rental flats in new estate developments? This would make more economic sense.
The HDB has converted two blocks of flats in Toa Payoh Lorong 6 into dormitories for foreign workers. Is this an indication that more rental flats will be built in mature estates and that there will be more conversions of other rental flats into workers’ dormitories?
Does it also mean that these two blocks in Pasir Ris Drive 6 will be converted into rented dormitories in times to come?
Eileen Ng (Ms)
Source : Straits Times – 2 Feb 2010 HDB concentrate on building rental flats in new estate developments? This would make more economic sense.
The HDB has converted two blocks of flats in Toa Payoh Lorong 6 into dormitories for foreign workers. Is this an indication that more rental flats will be built in mature estates and that there will be more conversions of other rental flats into workers’ dormitories?
Does it also mean that these two blocks in Pasir Ris Drive 6 will be converted into rented dormitories in times to come?
Eileen Ng (Ms)
Source : Straits Times – 2 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
ONE innovative solution to meeting the nation’s expected shortage of land is to go underground and carve out spaces.
These subterranean land banks would be located mainly near transport hubs, according to the Economic Strategies Committee (ESC) report yesterday.
As Singapore plans ahead for a city that ‘remains extremely liveable even as we grow, we have to make more efficient use of our land (and)… this will call for bold and imaginative urban planning and redevelopment’, said the report.
Senior Minister of State for National Development Grace Fu expanded on the idea yesterday, saying that the Government has to identify new industrial estates to serve new industries.
It could create basement spaces with new underground infrastructure, and land banks around our rail network, said Ms Fu, who co-chairs the ESC sub-committee on land.
She said the Government has found ‘tremendous potential for us to create infrastructure underground already’ during the process of developing the rail system.
‘This means that there’s land that can be created underground. We may not need to tap (it) any time soon but if we’re to do it, as we are developing the infrastructure underground, it’s getting the land ready for us,’ she said.
The Government also wants to develop a masterplan to ensure that underground and ground spaces are developed in sync with each other to ensure that the maximum potential is realised. It is setting up the National Geology Office to collate information on underground development.
The Government will also develop a subterranean legal and valuation framework that will benefit private and public sector efforts in developing underground spaces, added Ms Fu.
Investment will be pumped into research and development and cavern level test beds to gain experience in underground development.
Going underground is not alien to Singapore. The industrial developer and landlord, JTC Corporation, has started work on the first phase of the Jurong Rock Cavern, the first underground oil storage facility to be built in South-east Asia.
Industry observers said yesterday that going underground is challenging from a cost viewpoint.
Mr Ashvinkumar Kantilal, president of the Singapore Institute of Architects, said developers only go into basements when required because of the cost.
‘The uses of these underground spaces also have to be very specific,’ he said.
Perhaps a leap in technology will lower costs to allow Singapore to maximise the potential of such spaces, he added.
Source : Straits Times – 2 Feb 2010
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Posted by Singapore Property Match on February 2, 2010
EVEN as Singapore’s iconic Marina Bay nears completion, its next waterfront city has been identified: Tanjong Pagar.
Right now, it is home to cranes and rows of stacked containers waiting to be loaded onto ships calling at one of the world’s busiest ports.
But come 2027, when port operator PSA Corporation’s lease on the land expires, the prime waterfront space should become home to skyscrapers of another sort.
The Economic Strategies Committee (ESC) yesterday called for Tanjong Pagar to be transformed into a waterfront city catering for the expansion of Singapore’s business district and boasting apartments, hotels, and lifestyle and tourism facilities.
‘This area is very attractive, it is just at the fringe of the city, the size is comparable to another Marina Bay and it can offer immense opportunities to support future growth,’ said Senior Minister of State for National Development Grace Fu yesterday.
Because of its proximity to the Central Business District, Sentosa and universities, Tanjong Pagar ‘will give us lots of elements to work on and we’re quite excited about the potential’, she added.
However, details are not ready at the moment as the Government is not looking at developing it any time soon.
Ms Fu, who co-chaired the ESC sub-committee on higher land productivity for future growth, said this is all part of the committee’s push to make the most productive use of Singapore’s land.
This is especially since Singapore’s competitiveness will in future rest on being ‘a global city and a meeting point in Asia for enterprise, talent, cultures and ideas’.
The idea is make each piece of land work harder and examine how land use should be reconfigured to support the new economic strategies for the country.
For example, more incentives and grants could be given to encourage the private sector to pilot innovative plant layouts for key manufacturing sectors to minimise the use of land, she said.
‘We will also have to progressively step up the rejuvenation of mature industrial estates and at the more macro level… recycle land to support new economic activities,’ she added.
Another look may also be taken at industrial spaces which one cannot imagine could be used for other purposes.
Lorong Halus, for example, used to be just a dumping ground for rubbish, but is now home to wildlife.
‘So we would try not to imagine Tuas as it is now, but rather a place where we could find a congregation of not just economic (or) industrial activities but hopefully residential and recreational as well – a much more pleasant place and a place for the birds as well!’ Ms Fu quipped.
‘We are limited in terms of land but I think we are not limited in terms of imagination and creativity.’
Commenting on the plans for Tanjong Pagar, Mr Steven Choo, chief executive of the Real Estate Developers’ Association of Singapore, said they will add a new dimension to land-scarce Singapore.
However, he also noted that this is a long-term vision which will not have much impact on the current market over the next few years.
‘But eventually I’m sure it will open up more options, more quality living, offices, accommodation, and more variety to our urban landscape,’ he said.
Singapore Institute of Architects president Ashvinkumar Kantilal said the plans were ‘very pragmatic, typical of the Singapore approach’.
The location already boasts Sentosa, residential estates, and a shopping and office hub, and will present a great planning opportunity ‘when the time comes’, he added.
Source : Straits Times – 2 Feb 2010
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