SingHaiyi leans on new perspectives and pals to cement Top Developer status
By Timothy Tay
/ EdgeProp Singapore |
Gallant Tang, executive director of SingHaiyi, accepting the Top Developer award for SingHaiyi at the gala dinner on Oct 30. (Picture: Samuel Isaac Chua/The Edge Singapore)
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Property developer SingHaiyi Group has swept the board at the EdgeProp Excellence Awards 2024, claiming 13 awards across five projects. Three of its projects were conferred multiple awards: TMW Maxwell, Parc Komo, and Grand Dunman. The company also took home the prestigious Top Developer award.
Its 276-unit Parc Komo, located along Upper Changi Road North, was conferred four awards: Landscape Excellence, Design Excellence, Innovation Excellence, and Top Development in the completed mixed-use category.
Meanwhile, its other mixed-use project TMW Maxwell, on Tras Street in District 2, won awards for Landscape Excellence, Design Excellence, Marketing Excellence, and showflat design. SingHaiyi’s mega-project, the 1,008-unit Grand Dunman, also swept up the coveted Top Development and Top Mega Development awards in the uncompleted category and the Top-Selling Project in the RCR.
Other projects like the Gazania, a 250-unit condominium on How Sun Drive, won Innovation Excellence, while the luxury Kopar at Newton clinched the Sustainability Excellence award.
The SingHaiyi team on stage commemorating their Top Developer Award. (Picture: Samuel Isaac Chua/The Edge Singapore)
“Given Singapore’s competitive housing market, developers must constantly innovate. For SingHaiyi, that means building excellence for generations – creating timeless and high-quality homes. This vision, shaped by our chairwoman, continues to be embodied by our teams at SingHaiyi,” says Gallant Tang, executive director of SingHaiyi.
Tang accepted SingHaiyi’s Top Developer award on behalf of the company at the gala dinner on October 30. Tang is the son of Gordon and Celine Tang, the controlling stakeholders of SingHaiyi.
In his acceptance speech on behalf of SingHaiyi, Tang credited his mother for instilling lifelong foundational values.
“I grew up watching my mother, Celine Tang, the chairwoman of SingHaiyi, consistently ask the same question: How can we do better?” he says. “Whether it was about running a company or raising children, her empathy and pursuit of excellence have been a constant positive influence in my life.”
He adds that these same foundational values are embedded in the culture of SingHaiyi and have guided the company to its success.
“With Singapore’s increasingly diverse population, we are excited to continue offering premium homes that will last for generations and to foster communities that will strengthen with time,” says Tang.
This receptivity to the needs of homeowners and a desire to build communities is a common thread throughout SingHaiyi’s projects. Last month, the developer unveiled its vision and concept for One Sophia, a redevelopment of the landmark Peace Centre and Peace Mansion.
The 367-unit The Collective at One Sophia will launch next January. (Picture: Benny Kee/The Edge Singapore)
Comprising a 13-storey commercial tower and two 19-storey residential towers, One Sophia is designed by ADDP Architects and studioMilou. The launch of the strata commercial units on Oct 20 resulted in the sale of 19% of the 122 strata commercial units at an average selling price of $3,330 psf.
The private preview sales of The Collective at One Sophia was brought forward to Nov 6. It will continue until end of this month, with the official launch scheduled for January 2025.
SingHaiyi has demonstrated exceptional skill in crafting and positioning impactful mixed-use developments. The slew of awards picked up by Parc Komo is a testament to the developer’s efforts in overcoming a challenging site.
However, the judges praised the development for its innovative design and creative use of landscaping to create a sanctuary within the development. Tang Kok Thye, associate partner of ADDP Architects and one of the judges this year, commented that the design was exceptionally well executed.
“Innovating in Singapore’s real estate market can be prohibitively expensive, but the value of community is irreplaceable, making this a worthy endeavour for SingHaiyi,” says SingHaiyi’s Tang.
Parc Komo swept up for awards this year in the landscape, design, and innovation categories, as well as Top Development (completed mixed-use). (Picture: Albert Chua/The Edge Singapore)
Although SingHaiyi is relatively new to the Singapore real estate market, with only a 12-year presence, Tang reflects, “There were moments when we’ve surprised the market.”
One such instance was in 2022 when SingHaiyi submitted the top bid of $1.28 billion for a government land sale (GLS) site on Dunman Road.
This site is being developed into the 1,008-unit Grand Dunman, which stunned the market when more than 10,000 prospective buyers crowded into the sales gallery last July during its opening weekend. SingHaiyi would go on to sell more than half of the units in the development. At the close of the launch weekend, about 550 units had been snapped up, reflecting a take-up rate of 54.6%.
“While others were less confident in the site due to its mega-size, the SingHaiyi team believed in the potential of the site and was confident in their assessment of pent-up demand in the region,” says the Tang scion.
“Grand Dunman is a testament to SingHaiyi’s ability to recognise opportunity, and its success has prompted the market to reassess the value of the Dakota neighbourhood,” he notes.
Grand Dunman is a 1,008-unit mega-project by SingHaiyi. (Picture: Samuel Isaac Chua/The Edge Singapore)
SingHaiyi’s other award-winning projects this year were also made possible by its merger with Chip Eng Seng in 2023. “This move has allowed us to take on a wider range of projects and cater to different market segments,” says Tang.
He credits Raymond Chia, Group CEO of SingHaiyi, for successfully uniting both companies, enabling the merged entity to share resources and position itself for future success.
“Under Raymond Chia’s leadership, SingHaiyi has further integrated construction expertise into its development operations. The merger also allowed SingHaiyi to expand its real estate presence in Singapore, the Maldives, New Zealand, and Australia,” says Tang.
Since the merger, SingHaiyi has been able to scale up both the number and quality of projects. “Our teams are structured to be systematic, specialised and collaborative,” says Tang. “This expanded capacity has enabled us to take on more meaningful and valuable projects, and we are honoured that the EdgeProp Excellence Awards recognise the quality of our work.”
TMW Maxwell won awards for Landscape Excellence, Design Excellence, Marketing Excellence, and showflat design. (Picture: Albert Chua/The Edge Singapore)
In his acceptance speech, Tang praised the professionalism, boldness, and competitiveness of Singapore’s development companies. He acknowledged SingHaiyi’s past partnerships with other leading developers and how these collaborations have shaped the company.
“We learnt the importance of building strong relationships with partners and peers in the market from the giants in the industry, like CapitaLand, CDL, Far East, GuocoLand, UOL, and more,” Tang continues. “Watching and learning from these role models has profoundly shaped our strategy to take on joint-venture partners, execute interesting projects, and bring in more diverse views”.
He adds that strong partnerships and meaningful stakeholder engagement will be essential as SingHaiyi accelerates its vision to build better homes and communities in Singapore for generations to come.
“We value our team, partners, and the shared experiences that have strengthened our skills, capabilities, and culture over the years. As we continue to refine our strategies, fresh perspectives and new partnerships are always welcome at SingHaiyi,” says Tang.
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