Developer – Meet the Chinese developer that made record bid for Queenstown site
Hong Kong-listed developer Logan Property Holdings made its first foray into Singapore as part of a plan to diversify its land bank portfolio. In a team effort with another mainland developer Nanshan Group, Logan Property placed a record bid of $1.003 billion for a plum housing site on Stirling Road, Queenstown in 2017. The Stirling Road bid was also an all-time record for a purely residential site in the Government Land Sales (GLS) programme.
Logan Property has more than 20 years’ experience in residential property development in greater China, particularly in the Guangdong, Hong Kong and Macau Greater Bay Area, having developed 250 million square feet real estate. It primarily targets first-time homebuyers and upgraders. To date, the company and its subsidiaries have a total land bank amounting to 72.0 million square metres, with the Guangdong-Hong Kong-Macao Greater Bay Area and Yangtze River Delta metropolitan area accounting 85% of the land bank, while the first- and second-tier cities accounting for 93%. The Group also focuses on four major business segments: residential development, urban redevelopment, commercial operations and industrial operations.
Founded in 1996, Logan Group is a highly-respectable real estate developer in China and was listed on the Hong Kong Stock Exchange in 2013. Over the years, the Group has built a stellar track record in residential developments and has repeatedly clinched numerous accolades and awards such as “Top 10 Hong Kong-listed Chinese Property Developers – Investment value” in 2020 and ”2020 China Excellent Real Estate Company by ESG Development”, among others. The Group was ranked 26th in the China Top 100 Real Estate Developers, 3rd in Top 10 value investment stock and 266th in Fortune China’s Top 500 Enterprises in 2018 – a testament to Logan Property’s expertise and continuous commitment to excellence.
Logan Property’s mission of ‘Building a Better Life’ has so far led to the creation of over 150 residential projects and has improved the quality of over 600,000 lives, including overseas markets such as Hong Kong and Singapore. In Singapore, Logan Property’s Stirling Residences has already garnered 5 awards in the 2018 Property Guru’s Asia Property Awards, including ‘Best Condo Development (Singapore)’’, ‘Best Private Condo Development’ and ‘Best Private Condo Architectural Design’.
Over the last 25 years, Logan Group has demonstrated a long standing commitment to sustainability, integrating Environmental, Social and Governance (ESG) within everyday operational decisions in an effort to realise the vision “To build an Evergreen Logan”. Such dedicated effort can be seen from 5 key aspects – corporate compliance, labor relations, quality project, green environmental protection and community Investment.
The Group has also established Green Bond Framework to issue Green Bonds to promote ongoing efforts in sustainable development of green property and to support the commitment towards sustainability. The purpose of this Framework is to have a single robust methodology in place for all future Green Bond issuances to re-finance existing assets or finance new assets that promote clean transportation infrastructure as well as the transition to low-carbon buildings renewable energy installation.
Architect – P&T Consultant Pte Ltd
Formerly known as Palmer and Turner Hong Kong, P&T Group is an architectural firm based in Hong Kong since 1868. It is one of the oldest architecture and engineering firms in the world which has designed many iconic landmark buildings in Hong Kong, Shanghai and in southeast Asia.
P&T Group has since grown from a small firm to one of the most recognized international consultancies globally. Armed with a team of more than 1600 consultants, architects, engineers, and designers and 14 offices in China, Singapore, Thailand, Middle East, Vietnam, Indonesia, and Malaysia, P&T Group oversees projects carried out worldwide in more than 100 cities. Notable commercial and residential projects in Singapore include:
Rediffusion Building, Clemenceau Avenue (1948–49)
MacDonald House, Orchard Road (1949)
Sandes Soldiers Home, Portsdown Road (1949)
Odeon Cinema, North Bridge Road (1953)
Bank of China Building, Battery Road (1953)
Singapore Institute of Management (1996)
One Marina Boulevard (2003)
Maple Business City (2010)
United World College International School Campus (2011)
Stirling Residences (2017)
Parc Clementis (2019)
Forett At Bukit Timah (2019)
Normanton Park (2020)
Twin View (2021)
Main Contractor – Tiong Aik Corporation Ltd
Tiong Aik started out as a construction contractor in 1972, undertaking projects for governmental bodies such as the URA, HDB and JTC. The construction of the hawker centre formerly situated at Empress place was their maiden project. However, it was New World Centre, a commercial property, that marked their first venture into the real estate development business in 1995. To expand beyond Singapore, Tiong Aik formed several overseas joint ventures in China, Cambodia, India, Myanmar, Thailand and Malaysia in order to penetrate new markets, such as the operation of BCA-approved training and test centres in Chennai, India. Through excellency and stellar records, Tiong Aik successfully listed on the mainboard of the Singapore Exchange on 21st November 2011.
With a track record of more than 45 years in the construction business in Singapore, Tiong Aik Construction Pte Ltd has solidified its reputation as an established building contractor, holding the highest BCA grading of A1 for general building work, which allows them to undertake public sector construction projects with unlimited contract value. Tiong Aik’s primary focus is on well-located projects targeted at the middle to upper-middle income markets. These projects include landed properties, apartments and condominiums built on freehold land acquired from private parties and leasehold land acquired from the government.
To complement its construction business, Tiong Aik also expanded their services to include fabrication of metal frameworks as well as management of the Group’s construction machinery. Property investments include workers’ dormitories, commercial units as well as industrial properties. Under the workers’ dormitories space, the Group owns more than 10,000 dormitory beds for foreign workers in Singapore. The Group also owns more than 61,000 sq m of investment property space. These units include the 4,635 sq m of commercial units at New World Centre in Singapore – their very first commercial project.