Sim: Judging for EPEA is not purely based on numbers and floorplans (Picture: Samuel Isaac Chua / EdgeProp Singapore)
Each of the winning projects at the EdgeProp Singapore Excellence Awards (EPEA) 2024 showcased sensitivity to their users’ wants and needs, and left a lasting impression that developers are not just delivering “cookie-cutter” homes and workplaces, says Desmond Sim, CEO of Edmund Tie.
The industry veteran returns for the second year as one of the judges of this year’s property awards, where the judging categories were expanded to include a range of residential, commercial, hospitality, and industrial projects.
The addition of commercial and industrial projects to the award line-up is a welcome inclusion and showcases the best of Singapore’s real estate market, says Sim.
There are unique qualities to consider when evaluating different types of properties such as residential or industrial projects, and the diversity has added depth to this year’s awards, he adds.
Sim has been at the helm of Edmund Tie since 2019. He previously spent nine years at CBRE where he served as head of research for Southeast Asia. His expertise in research and consulting, valuation, and business development complemented this year’s panel of judges.
“Judging for EPEA is not purely based on numbers and floorplans … We also consider well-thought-out planning in a development’s layout and design concept,” he says, adding that properties should also be judged on their usability and marketability.
A project that stood out to him this year was the 276-unit Parc Komo, a freehold mixed-use development by SingHaiyi. The project won four awards this year — Top Development, Design Excellence, Innovation Excellence, and Landscape Excellence.
The overall design of the project impressed the judges with how well the architecture and landscape design was able to obscure the residences from the view of the adjacent prison. “When we stepped through the gates into the residents-only section, the landscaping put us into a totally different mindset,” says Sim.
These are aspects of the development that are hard for judges to quantify, he continues, noting that only by walking the grounds are such user-sensitive designs impactful and evident.
Another memorable award-winning project this year was the 592-unit Amber Park, jointly developed by City Developments (CDL) and Hong Realty. Amber Park demonstrates the skill of the developers to accurately translate its design concept and vision into a luxury home, says Sim.
When the project was launched, a key selling point was its rooftop recreation deck, featuring a lounge, sea-facing gym, 600m jogging track, yoga deck and outdoor fitness corner.
On paper, this feature doesn’t particularly stand out, but when Sim saw the rooftop deck in person, he was blown away with the view and execution of this feature deck, he says.
“The timing was right when we visited the roof. It was nearly sunset, and the view of the surrounding East Coast area from the top of Amber Park was breathtaking.”
However, the real estate industry is not without its challenges, especially this year as macroeconomic headwinds such as the high-interest rate environment have dampened market sentiment, says Sim.
“[High interest rates] have been felt by both buyers and developers this year. Buyers are being more careful, and transaction data shows that the absorption rates [of new project launches] have been a little bit lacklustre.”
As a result, developers have been holding back on their launches so far this year as they wait for the market to recover, he says, adding that if project launches continue to be pushed back, this year’s pipeline of new launches could combine with next year’s scheduled launches to prolong the situation.