Kf Corporate Handbook 3rd Quarter 2009

July – September 2009 MICA (P) 119/06/2009

ASPECTS OF REAL ESTATE. A quarterly publication from Knight Frank 

Residential > 01 Auctions > 05 Industrial > 08 Office > 13 KF Estate Management > 17 Investments > 20 Retail > 21

Residential Projects Highlights

An exclusive freehold development in prime District 09 unveiling soon!

One Devonshire One Address. Seven Exquisite Gardens. The address says it all.

For enquiries, please call:

Deric Chong Alan Neo

9837 8786 9843 7206

Located in the heart of Orchard Road, Singapore’s main shopping belt, One Devonshire is an exclusive development comprising only 152 apartments.   The eye-catching development with its contemporary architecture, unique 7-sky-gardens concept will appeal to all. Each exquisitely designed sky garden will come with its own unique theme.  

Towering 36 storeys high, every apartment has been designed to maximise space and provide total, exclusive privacy. With a selection of 2-, 3- and 4-bedroom apartments, as well as luxuriously designed sky suites and penthouses, One Devonshire offers living spaces to suit the most discerning homeowners and investors.   One Devonshire undoubtedly represents the true meaning of designer living. Kitchens come with built-in fridges and dishwashers from Miele. Bathroom fittings include Villeroy & Boch water closets and Dornbracht fittings.

One Devonshire, Balinese Garden

One Devonshire, Rock Garden

One Devonshire, Mediterranean Garden

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One Devonshire, Facade

KnightFrank.com.sg

Projects Highlights

Double Bay Residences Inspired by nature. Created for luxury. More than 60% sold! 3- & 4-Bedrooms and Duplexes available Stretching across 346,000 sq ft of lushly landscaped grounds and comprising of 646 spacious homes, Double Bay Residences sets a new standard of living in Simei.

It enjoys the most convenient location being just a 3 minute stroll away from Simei MRT and Eastpoint Mall. In addition, Changi Business Park, Singapore’s 4th University and World College which will also be here soon adds to the appeal. What’s more! The larger units boast features such as curved shower rooms, ponds, private swimming pools and roof top jacuzzis. All apartments are fitted with elegant finishings comparable to prime district residential projects.

Double Bay Residences’ extraordinary features of a one-tree island, 5-storey waterfall, elevated Jacuzzi, lagoon pool with another 50 m lap pool and sports deck set it uniquely apart from any other developments.

For enquiries, please call:

Liesel Lim Larry Yam

9068 0018 9271 1108

Double Bay Residences, Landscape 2

Double Bay Residences, Landscape 1

Double Bay Residences, Library

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Residential Projects Highlights

Livia Designed by renowned architect, Architect 61, Find a world of conveniences all around Livia redefines the meaning be it within or outside your development. of luxurious living in the All 2-bedrooms fully sold! Lookout for 3-, 4-bedrooms and Penthouses East! Its excellent design and well-planned spaces Enjoy the thrill of finding all your desired shops comes with modern interiors within easy reach. Shop non-stop at these conveniences with an array of exciting and quality designer fittings. 5-star retail and entertainment spots – White Sands,

A private gate leads to the Sungei Api Api Park Connecter and Pasir Ris Park, where you can experience many exciting activities and water sports. The popular Tampines mountain biking trail is within the vicinity too. The full condo facilities are classified into 4 zones - Aqua, Action, Leisure & Garden. There is no other condominium in town that offers such extensive facilities for generations.

Ikea and Downtown East with Cineplex, Livia has it all!

For enquiries, please call:

Michelle Chia

9062 3456

Livia, Pool

Livia, Action Zone

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Livia, Pool

KnightFrank.com.sg

Projects Highlights

Verdure @ Holland Park A True Holland Address Strata Villas are now available for sale! Despite the sedate property market, Verdure @ Holland Park achieved commendable sales result with all of its apartment units fully sold within a month since its official launch in April 2009. Verdure @ Holland Park is very sought after for its excellent location and development concept and quality. Located in Singapore’s most coveted residential district, it is in close proximity to the renowned Singapore Botanic Garden and is a short drive away from the myriad of amenities – Orchard

Shopping Belt, Tanglin Village and Holland Village etc. This magnificent residential property takes full advantage of its unparalleled views towards a tapestry of greenery in a district replete with established bungalows. Be the selected few to claim ownership of the luxurious strata villas in Verdure @ Holland Park. Each strata villa is designed with style, featuring state-of-the-art finishes and imported designer fittings such as Gaggenau, Molteni & C, Siematic and Duravit. Residents will get to enjoy the use of 2 allocated parking lots right at their doorstep. To heighten the pleasure of living in Verdure @ Holland Park, all villas are designed with a private roof top jacuzzi.

Located in Singapore’s most coveted residential district, it is in close proximity to the renowned Singapore Botanic Garden and is a short drive away from the myriad of amenities.

For enquiries, please call:

Deric Chong

9837 8786

Verdure @ Holland Park

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auctions

The auction market remained subdued in the last three months amidst the global financial crisis. There was however sporadic buying interest at some auctions when prices were pegged at 15% to 20% below valuation. Gradual narrowing of the price gap was observed as the buyers spill over from the positive response at developers’ launches and improved sentiments of the stock market. More geniune buyers are slowly streaming into auction halls to look for good buys.

The Sunny Spring

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Mortgagees’ sales are far and few between now as banks are more open for mortgagors to restructure their loans or to sell on their own. As such, auction houses are receiving more instructions from owners to conduct auctions on their behalf.

Far East Shopping Centre

KnightFrank.com.sg

Properties Sold At Recent Auctions

The following properties were sold by us at recent auctions. 01. #08-20 The Sunny Spring

3+1, 50 Lorong 40 Geylang, 1,195 sq ft, freehold. Owner’s sale Sold at $615,000 02. #06-11 Far East Shopping Centre

545 Orchard Road, shop unit used as office, 323 sq ft, 999 yrs. Owner’s sale Sold at $550,000 03. Land at Ponggol Road

04. #13-05 Peninsula PlaZA

111 North Bridge Road, office. 1,776 sq ft, 999 years. Owner’s sale Sold at $2 Million 05. #03-05 Henley Industrial Building

22A Lim Teck Boo Road, flatted factory, 1,421 sq ft, freehold. Estate sale Sold at $305,000 06. #03-06 Henley Industrial Building

22A Lim Teck Boo Road, flatted factory, 1,916 sq ft, freehold. Estate sale Sold at $432,000

Lot No 272N Mukim 21, land, 1,945 sq ft, 999 years. IRAS sale Sold at $200,000

Land at Ponggol Road

Peninsula Plaza

Henley Industrial Building

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auctions Properties For Private Treaty Sale

The following properties are available for private treaty sale. 01. West Coast Road D05

6+1 2-storey detached house + pool, 5,300/ 6,000 sq ft, freehold, near amenities Asking $3.8 Mil Mary Sai 6228 6886 / 9338 7879 [email protected] 02. Jalan Rimau, (Off Bedok Reservoir Road/

Jalan Eunos) D14

5+1 3-storey + basement level corner terrace, 2,368 sq ft approx., freehold Asking $1.5 Mil Magdalene Chong 6228 6890 / 9850 6526 [email protected]

Fernwood Tower

Jalan Rimau

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03. Fernwood Tower D15

4+1 bedroom apt (all ensuite), 2,497 sq ft, freehold Asking $6XX psf Christina Koh 6228 6892 / 9450 3477 [email protected]

KnightFrank.com.sg

industrial Business Space – Sold

32 Changi South Street 1 Sold: S$2,538,000

29 Loyang Crescent Sold: S$6,200,000 Knight Frank Singapore’s Industrial Business Space pitted against several major real estate agencies, and won the marketing pitch for the sale of the specific use industrial property belonging to a company listed on the Singapore Stock Exchange.

We are proud to have sold the property beyond the client’s expectation, shortly after the long festive season, which is traditionally a lull period of sales. Zoned “Business 2”, the approx. 48,800 sq ft factory sits on a land of approx. 81,400 sq ft and has water front length of approx. 120 m. Comprising of a part 1-storey, a part 2-storey and a part 4-storey building, boat sheds, a jetty and a launching pontoon, this property with its full-fledge facilities is a rare site that provides great convenience for business owners in need for waterfront developments.

For enquiries, please call:

Chow Kok Seng 6228 7382 / 9685 7557 Veronica Chao 6228 6893 / 9111 7775

29 Loyang Crescent

29 Loyang Crescent

32 Changi South Street 1

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industrial Business Space – Available for Sale

For enquiries on 22 Pandan Road, please call:

Veronica Chao 6228 6893 / 9111 7775 Chow Kok Seng 6228 7382 / 9685 7557

22 Pandan Road

26 Loyang Drive

FOR SALE

FOR SALE

A rare opportunity awaits business owners looking for properties in the Pandan Industrial Estate - a standard JTC single-storey detached factory with a mezzanine level and a singlestorey extension is now available for sale.

Prominently located in the Loyang Industrial Estate, 26 Loyang Drive offers quality business space, ideal for corporate companies. The property is situated within 5-10 minutes drive from the Singapore Expo and Simei MRT Stations and is easily accessible to the city and airport via the East Coast Parkway and the Pan Island Expressway.

Zoned “Business 2”, the approx. 46,000 sq ft factory sits on a site of approx. 86,000 sq ft. Selling with three units of 10-tonne overhead cranes and one unit of 5-tonne overhead crane, this property with its facilities and convenient location, is ideal for most business operations.

For enquiries on 26 Loyang Drive, please call:

Chow Kok Seng 6228 7382 / 9685 7557 Sheryl Koh 6228 6899 / 9818 6260

22 Pandan Road

26 Loyang Drive

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26 Loyang Drive

This modern single-storey factory building with 2-storey office annex has a gross floor area of approx. 150,00 sq ft and a land area of approx. 200,000 sq ft. Featuring clean modern facade, spacious lobbies, ample parking lots, good loading and unloading facilities, air conditioned office and production areas and high ceiling of up to 9 m, this property is an excellent opportunity not to be missed.

KnightFrank.com.sg

Business Space – Available for Sale

Full Fledge Warehouse In Tuas

32 Loyang Crescent

FOR SALE

The purpose-built detached factory building comprises a single-storey factory with 2-storey mezzanine office and a 4-storey dormitory building is available for sale. This property is zoned “Business 2”, and has a land size of approximately 45,000, sq ft and a gross floor area of approx. 38,000 sq ft.

Prominently located at the junction of Tuas South Ave 1 and Tuas South Ave 4, the property is approx. 5 minutes drive to the Tuas Biomedical Park and approx. 15 minutes drive to the Second Link to Malaysia. It enjoys good amenities with proximity to the Tech Park Food Centre and the Tuas Amenity Centre. This 5-storey purpose-built warehouse with full fledge ASRS and VNA systems, 45 loading and unloading dock levellers with its own compound, car parks and driveway, is designed to suit logistics and warehouse users. We invite interested parties to contact us for more information.

FOR SALE

Established transport infrastructure provides accessibility to other parts of Singapore by its proximity to the East Coast Parkway and the Pan Island Expressway.

For enquiries on Full Fledge Warehouse in Tuas, please call:

Veronica Chao 6228 6893 / 9111 7775 Lim Kien Kim 6228 6894 / 9457 4000 For enquiries on 32 Loyang Crescent, please call:

Veronica Chao 6228 6893 / 9111 7775 Chow Kok Seng 6228 7382 / 9685 7557

Full Fledge Warehouse in Tuas

32 Loyang Cresent

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industrial Business Space

In order to move forward, a change in mindset is necessary. Discerning investors and space users were advised to look beyond the present crisis and recognise that the current downturn can offer significant opportunities.

Emerging on top of the business property ladder even in a market downturn The Industrial team hosted a seminar in partnership with the Singapore Manufacturers Association on 16 April 2009, at the Spring Singapore Building. The objective was to share our research findings, analysis and professional knowledge so that industrial landlords and users, especially those in the manufacturing sector, are aware that there are still opportunities that they can tap on. Seminar topics included real estate market information on Singapore as well as Malaysia. We had the honour of inviting Mr Masri Zohaini Idris, Director of the Malaysia Industrial Development Authority (MIDA) to share information about the Malaysian market.

Mindset change required Since the second half of 2008, the global economy was hit by a major economic downturn and being a highly open economy, Singapore was not spared from the impact of the changing dynamics of the economy. Amid this climate of turmoil and uncertainty, precipitated by the ongoing ‘war on credit’, it is all too easy to believe that any business property investment will not be viable. However, those who understand the cyclical nature of financial markets will recognise that opportunity knocks when the previous tide of positive sentiment goes into a completely reverse gear, as we are now experiencing. In order to move forward, a change in mindset is necessary. Discerning investors and space users were advised to look beyond the present crisis and recognise that the current downturn can offer significant opportunities. This may involve a mindset change and acceptance of concepts that are new and unfamiliar. Mr Lim Kien Kim, Knight Frank’s Director of Business Space (Industrial) shared some of these concepts:

Don’t try to catch the market

Mr Masri Zohaini Idris, Director of MIDA as our guest speaker

Industrial properties have little or limited speculative element. 70% of the industrial space in Singapore falls under the care of the Jurong Town Corporation (JTC) and will be affected by policies JTC passes down. Property owners and buyers should bear in mind that policies are in a constant state of flux. For example, JTC’s 100% sublet rule was enforced in 2002; in 2008, subletting of JTC property was capped at 50%; the rule was lifted in 2009 and JTC properties can once again be 100% sublet. If you think you are safe if you do not own a JTC property, think again. In 2006, the Central Provident Fund (CPF) Board disallowed the use of CPF funds to buy non-residential properties. The bottom line – any relevant authority can pass laws on how industrial properties can be owned or used.

One-on-one discussion with participants before the seminar

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KnightFrank.com.sg

Business Space

Our recommendation is to buy if you need and sell if you don’t. If the property doesn’t have a good location and has no rental income potential in the future, you should sell it off. Otherwise, it may drain your cash away, As such, property owners should, bite the bullet and cut the losses now, rather than let the value of their properties continue to decline.

Re-engineer Your Space We all know that Singapore has limited land area, with only approx. 700 sq km of space on the entire island. This limits lateral expansion of space, so the only way is UP or DOWN. In a move to optimise land use, new concepts such as the stacked up factories, ramp-up warehouses and ‘small footprint high plot ratio’ standard factories with hoisting systems have been developed over the years.

Seek Advice Wisely There’s nothing wrong with seeking advice from bankers, your company’s chief financial officer or your financial advisors on how you should invest in your business properties. Their views can be useful since they know your business better than anyone else. They are in the position to tell you “We have the money and resources to do that” or “We can offer you a loan”. But they may not have insights or intimate knowledge of the real estate market. So, for your real estate needs, heed the advice of the specialists and practitioners in this field. Being on the ground, they have the intimate and specialist knowledge to help you make informed decisions.

It is common in Asian culture to be very focused on yourself. However, in this complex economy, part of being a strong company does not entail just understanding your cost footprint but also looking at alliances and partnerships.

Knight Frank looks forward to providing continued professional advice and services to all our clients.

Going forward, companies must also embrace technology and invest in human capital. By doing both, they can expect to improve their core competencies and move their businesses up the value chain. These may translate into processes that allow you to move upwards or downwards in your space planning.

Landlord and Tenant Partnership It is common in Asian culture to be very focused on yourself. However, in this complex economy, part of being a strong company does not entail just understanding your cost footprint but also looking at alliances and partnerships.

Mr Leslie Khoo,

Director KF (Malaysia) giving an introduction on the Malaysian Industrial market

Landlords and tenants need to look at the bigger picture and form partnerships with a view of arriving at win-win situations to achieve business goals. For instance, landlords and tenants can collaborate to increase productivity, service levels, and develop a client-friendly space environment. Tenants can benefit with a customer centric environment without having to put out huge investments and long term property maintenance issues. With asset enhancement, landlords benefit in higher occupancy and increased real estate value. Participants paying attention to the presentation on opportunities in the Industrial market

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The Straits Trading Building, a prestigious landmark with an iconic name, is a 28storey office development that offers 19 floors of office space, 2 Sky Terraces and 4 Floors of Car Parks.

For enquiries, please call: Robert MacDonald 6228 7327 / 8428 1462

Agnes Tay

6228 6887 / 9639 1173

office

With office rentals falling, there are many opportunities in the market for tenants to secure quality space. Knight Frank’s Business Space-Office Team presents some of these opportunities.

22nd floors which provide excellent options for breakout areas and serve as private event venues for tenants. The high ceiling, column free and raised floor office space allows for maximum flexibility and efficiency.

Straits Trading Building

To top it off, tenants can enjoy a concierge service provided by the landlord in a strategic business address.

The only new office development located in the heart of Raffles Place, Straits Trading Building is strategically located along Battery Road, next to Raffles Place MRT station and is easily accessible by major express highways like the Ayer Rajah Expressway and East Coast Parkway. This modern office development will offer new office space with a typical floor plate of approximately 8,000 sq ft. The Sky Terraces are located on the 13th & 14th and 21st &

Straits Trading Building

Straits Trading Building, Sky Terrace

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Straits Trading Building, Facade

Leasable office of approximately 8,000 sq ft per floor Next to Raffles MRT station Finished floor-to-suspended ceiling High ceiling of 3 m Raised access floor Column free Expected TOP: November 2009

KnightFrank.com.sg

MND Building Annex B MND Building Annex B is conveniently located at the fringe of the CBD along Maxwell Road. A unique feature of this development is that the five-storey Annex block lies above the Amoy Street Food Centre, providing easy access to dining facilities along Amoy Street and Telok Ayer Street. Also located nearby is the famous Maxwell Food Centre. The strategic location also provides tenants with close proximity to amenities such as shopping and banking facilities. This prominent development is a mere five minute walk from Tanjong Pagar MRT station and is easily accessible via the Ayer Rajah Expressway and East Coast Parkway.

Annexe B offers approximately 30,000 sq ft of office space; with a typical floor plate of 15,000 sq ft. The development is very much self-contained comprising of an auditorium, a function room, a club house and a childcare centre which are available for tenants’ usage. With such amenities nearby and regular shaped floors for a cost efficient use of office space, MND Building Annex B would be the ideal choice in the financial hub of Singapore. Leasable office between approximately 400 – 13,700 sq ft 5 minute sheltered walk to Tanjong Pagar MRT station High ceiling of 2.5 m Available immediately

A unique feature of this development is that the 5-storey Annex block lies above the Amoy Street Food Centre, providing easy access to dining facilities along Amoy Street and Telok Ayer Street.

For enquiries, please call: Jenibelle Chan 6228 7304 / 9325 0025 Robert MacDonald 6228 7327 / 8428 1462

MND Building Annex B

MND Building Annex B

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Haw Par Centre overlooks the beautiful and historical Fort Canning Park combining an excellent downtown location with perfect views.

For enquiries, please call: Jenibelle Chan 6228 7304 / 9325 0025 Robert MacDonald 6228 7327 / 8428 1462

office

Haw Par Centre A stately and elegant 6-storey building, Haw Par Centre is only minutes away from the business and financial hubs of Raffles Place, Orchard Road and City Hall. Access to the Central Expressway and East Coast Parkway is only a short distance away. Haw Par Centre is a mere 5 minute walk to Dhoby Ghaut MRT station and a 10 minute stroll from the dining, banking and shopping facilities available at Plaza Singapura. Haw Par Centre offers approximately 112,000 sq ft of office space with a typical floor plate of approximately 9,700 - 21,500 sq ft. This development allows for plenty of natural lighting and has two landscaped courtyards on the 6th storey penthouse, which are ideal for a breath of fresh air or for corporate events.

Haw Par Centre

Haw Par Centre

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Leasable office between approximately 4,900 – 11,300 sq ft Raised floor of 150 mm High ceiling of 2.75 m Column free Sub-leasing available Attractive rental package Available immediately

KnightFrank.com.sg

Tampines Plaza This 8-storey office development is conveniently situated across from the Tampines bus interchange and only 5 minutes away from the Tampines MRT station. It is also easily accessible via East Coast Parkway, Pan Island Expressway and Tampines Expressway and is a mere 10 minute drive to Changi Airport. Tampines Financial Centre enables one to ‘work and play’ outside the CBD as it is a combination of corporate office buildings, retail malls, clinics, banks, food & beverage outlets, Tampines Sports Complex, Tampines regional library and a post office.

With a column free floor plate of approximately 12,600 sq ft, Tampines Plaza is set to be an efficient and attractive alternative to the prime office spaces in the CBD. Leasable office between approximately 12,600 – 25,200 sq ft Raised floor Column free Comfortable floor-to-ceiling height of 2.7 m Sub-leasing available Availability: July 2009

Tampines Plaza is strategically located in the heart of Tampines Financial Centre, which offers cost efficient and quality corporate office space outside of the Central Business District (CBD).

For enquiries, please call: Jenibelle Chan 6228 7304 / 9325 0025 Robert MacDonald 6228 7327 / 8428 1462

Tampines Plaza

Abacus Plaza

Tampines Plaza

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Knight frank estate management Training does not stop for Kfem, even in a recession

“I truly believe that training is not expendable, even during a recession when there is increased bottomline pressure. It is important to continue investing in our staff by developing their competence. With enhanced skills we can improve the service quality of our employees so that we emerge stronger after the recession.”

Team-building activity: Roller-coaster building

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Training does not stop for KFEM, even in a recession With the current economic climate, it is not surprising that many employers have taken to trimming training budgets, alongside pay cuts and recruitment freeze to improve bottom lines and save jobs. A recent poll of Singapore companies revealed that they will be cutting training budgets by an average of 17 per cent this year. However at Knight Frank Estate Management, there are no plans to cut cost by scaling back on training. On the contrary, the company has just launched a programme which is focused on grooming senior employees to prepare them for career advancement within the company. We speak to Mr Jordan Neo, Managing Director of Knight Frank Estate Management to find out what are his views and plans for this year’s training and development within the company.

Question [Q]: What are some of your beliefs and approaches towards training? Jordan Neo [JN]: I truly believe that training is not expendable, even during a recession when there is increased bottom-line pressure. It is important to continue investing in our staff by developing their competencies. With enhanced skills we can improve the service quality of our employees so that we emerge stronger after the recession. We do not see training as creating a budget and simply throwing money into expensive programmes. In KFEM, I take a personal interest in broader company wide staff training, and a special focus in developing our leaders. It demands a lot of my time, but I think it is worth it as it improves our operating efficiency. It is also our way of investing into the future. Thus instead of cutting the training budget, we will be investing a part of the funds we received from Job Credit Scheme for this purpose. Because of the demanding nature of our business, high staff attrition is inevitable. We recognise and accept that. Though we cannot solve each and every staffing problem, our belief is that we are better off when we retain and develop our staff. With structured training, we will emerge as a preferred employer and a market leader in the property and facility management industry.

KnightFrank.com.sg

Q: Can you tell us about the training you provide for KFEM’s work force of over 350 staff? JN: Training is only effective when it is directed to meet the needs of individuals. That is a big challenge! If you take a look at our training programmes, we try to do just that. At a company wide level, we put in place bi-monthly training to engage staff from site managers to senior management level. The topics which cover both hard and soft skills are creatively arranged in a certain order so that the staff get involved at the right time when relevant topics are presented. Normally we start the day’s training by getting our site managers from our portfolio of some 200 sites to discuss and share ideas on how they cope with work challenges. A wide range of training topics are covered, such as statutes, operational matters and improving customer service etc. Our trust accounts and corporate staff come in when we start the soft skills portion and corporate briefing during which we update our staff on what is happening within the company. Beside the solid part of the training, we set aside time for more light-hearted activities like celebrating birthdays, lunchtime quizzes plus good breaks for chatting. On the whole, apart from imparting skills, we hope to share

our corporate culture and create bonding. We try to delight our staff as they have taken time and trouble to join us. Q: How do you really cater for the diverse training needs of staff at different levels? JN: Apart from our group bi-monthly training, over the years we have designed our regular training programmes to cater for staff at different levels ranging from business unit heads, team managers, to junior positions like technicians and administrative assistants. Approached creatively, the same training video can be used for staff at various levels. For team managers’ training, the focus is mainly on operational aspects, while the discussion for the management team which consist of directors and department heads will focus on strategic planning and leadership matters.

“KFEM’s philosophy is to groom and promote staff from within the company wherever possible. We normally start by looking internally to match staff with vacancies. Our experience tells us that apart from cultural fit, such staff would have already familiarised themselves with KFEM’s best practices and operating procedures.”

Q: Can you tell us more about the new grooming programme you have recently designed for selected employees within KFEM? JN: KFEM’s philosophy is to groom and promote staff from within the company wherever possible. We normally start by looking internally to match staff with vacancies. Our experience tells us that apart from cultural fit, such staff would have already familiarised themselves with KFEM’s best practices and operating procedures.

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Knight frank estate management Training does not stop for Kfem, even in a recession (cont’d)

For our new financial year beginning in May, we have set aside budget to groom selected team managers and senior executives for business unit heads and head of department positions. Our observation over the years is that many of our senior staff are ready for promotion to the next level if we can help them overcome their weaknesses and strengthen their core competences in soft skills such as management, leadership and problem solving.

Q: Can you give an example of how training is applied and linked back to KFEM’s business model?

Q: What attributes do we look for in this group of employees? What is so special about the programme?

The staff were grouped according to real-life work groups - with team managers leading their respective site staff. Just like real life work situations, team managers have to supervise and manage the ideas coming from all members. Ultimately the winning team is one which is able to draw out the best idea and move together as a team.

JN: This person should have a positive attitude and certain core competency, and should take pride in his work. More importantly, he or she must possess the right values and has a team work mentality. There should also be a strong desire to excel. We are more concerned if one has the right attributes as opposed to knowledge. Given the time and will, the latter can be picked up. The grooming programme would have three vital ingredients. Participants can progress at their own pace. Firstly, there is an element of one-to-one coaching and guidance to develop the person as a whole. Secondly, we will also be sending all of them to external training courses and seminars, which are targeted at strengthening their specific needs. Lastly, this programme places a strong emphasis to strengthen their analytical skills and helping them to translate the knowledge acquired into workplace situations. Staff will undertake case studies and take part in group discussion. There would be opportunities to make presentations, lead discussions, as well as a chance for them to strengthen problem solving skills.

For enquiries, please call:

Jordan Neo

19

6372 3000 / 9666 8004

ASPECTS OF REAL ESTATE.

Above all, the main objective of this programme is to help our staff apply the knowledge they have acquired so that both the staff and company can benefit from the investment.

JN: During our recent yearly team building exercise which involved some 300 staff, we decided to pick a single activity programme of building a KFEM roller-coaster. The objective was to build a sturdy system which could support and enable a table tennis ball to roll through it. It sounds simple but is not easy.

To simulate real life business situation, we also introduced additional challenges by asking for a swap of team leaders (necessary because team managers do resign) during the exercise. The challenge of having to adjust to different culture and style of communication hampered the smooth progress in the exercise. There was a final and surprise twist by asking teams to combine their smaller roller-coasters into one large KFEM roller-coaster half-way into the game. This portion of the game required some teams to rebuild their roller-coaster so that they can fit into the flow. It illustrated how in the course of our business, our staff needs to understand, accept and be prepared to continually adapt themselves to new customers’ requirements which may be imposed from time to time. By helping our staff to understand challenges through such teambuilding exercises, we are constantly refining our ability to work together as a big KFEM team. We can ride out challenges and be on our way to higher success!

KnightFrank.com.sg

Investments

Parakou Building 16-storey freehold commercial development along Robinson Road For nearly a year, there has not been any significant investment sale in the market …until now! Knight Frank is pleased to have brokered the sale of Parakou Building for $81,380,000. The price of $81,380,000 works out to a sale price rate of $1,280psf, based on a lettable area of 5,907.8 sq m (approx. 63,591 sq ft), assuming one tenant per floor.

Parakou Building, which sits on a land area of 670.2 sq m (approx. 7,214 sq ft), is a relatively new 16-storey freehold commercial development within the CBD. It enjoys excellent frontage with the building located at the junction of Robinson Road and McCallum Street.

Knight Frank is pleased to have brokered the sale of Parakou Building for $81,380,000.

Besides being the most significant investment building deal so far this year, the sale marks the first successful transaction carried out jointly by the investment sales teams in Knight Frank Pte Ltd and our regionally focused Knight Frank Capital Markets Group.

For enquiries, please call:

Ian Loh 6228 6823 / 9687 0170 Foo Suan Peng 6228 6818 / 9836 2968

Parakou Building

Parakou Building

ASPECTS OF REAL ESTATE.

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Positioned as the youth icon of Singapore, *SCAPE sees itself as an urban entertainment building that congregates young Singaporeans and tourists alike, for creative and cultural exchange, a place that will draw the curious, the young at heart and the creatively-experimental.

For enquiries on *SCAPE, please call:

Charles Ng Jane Kva

6228 7318 / 9626 2060 6228 7337 / 8113 3084

For enquiries on Citibank Singapore, please call:

Charles Ng

6228 7318 / 9626 2060

*SCAPE

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Retail

*SCAPE

Citibank Singapore

113 Somerset Road

Holland Village

Early 2010, Singapore will see a new urban community space dedicated to young people’s concept of entertainment, engagement and creative expressions. This thrilling new space will be the magnet for young people, being strategically located in Orchard, set apart amidst retail giants.

Citibank Singapore Limited has opened its newest branch at Holland Village, demonstrating its continued commitment to expand and invest in its business in Singapore. Supported by Knight Frank, the move enables Citibank to better serve its customers, and further entrenches the bank’s presence where people live, work and play. The new premises bring the total number of Citibank branches in Singapore to 21. This new branch will offer the full range of branch services for Citibanking and Citigold customers.

Vibrancy and buzz can be expected as *SCAPE is jam-packed with facilities such as music and dance studios, exhibition gallery, street market for organic street performances and activities, outdoor sporting arena, performance theatre and more, alongside electrifying youth-targeted retail and F&B outlets.

Citibank Singapore

ASPECTS OF REAL ESTATE.

KnightFrank.com.sg

Heart To Heart Jewellery Square

2

Embodying the very essence of feminine beauty and purity, Heart To Heart Jewellery offers high-quality fashion accessories in a dazzling array of designs, all comprising high-quality cubic zirconias. Heart To Heart Jewellery is currently represented through various retail outlets in Singapore and Hong Kong. Knight Frank is pleased to assist in securing its latest outlet at Square 2. At this carefully designed outlet, there are sales representatives to provide the best possible customer service thereby enhancing the shopping experience of all who visit.

Backstage Iluma Backstage is Sri Lanka’s unique home-grown fashion accessories brand for women. It has stepped boldly on to the international stage with the opening of its first overseas outlet in Singapore and has become one of a few brands in this sector to go beyond the shores of Sri Lanka. Taking its name from its innovative concept, Backstage is a theatre-themed retail avenue offering women a vast range of high quality after-dark fashion accessories in a unique ambience where shoppers can try on accessories in spaces designed to make them feel like they are literally ‘backstage’ and preparing to go on a show.

Started just 20 months ago as a theatre-themed in-store concession at ODEL, the concept cum brand has extended to seven locations in Sri Lanka, including a standalone outlet at Crescat. Backstage is now dazzling shoppers at Iluma, Singapore’s newest arts and entertainment shopping mall. For enquiries on Heart To Heart Jewellery, please call:

Chrisy Goh

6228 7348 / 9151 0652

For enquiries on Backstage, please call:

Tan Ai-Ling

6228 6812 / 9380 0231

Heart To Heart Jewellery

Backstage

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Retail

RYO

Glitter Glam

Iluma

Iluma

RYO is a local men’s line tailored with the highest quality fabrics, and refreshing in look and appeal. With three constant goals - comfort, quality and uniqueness - driving its products, RYO has appealed to men of all ages. The range is an exciting collaboration between local fashion label Top Secret and various designers from Singapore, Thailand and Hong Kong. RYO merchandise are produced in these three countries as well.

Glitter Glam is for the chic and contemporary woman who is bold in making fashion statements. Always at the fashion frontline, Glitter Glam women go for glamour and styles which are unique and unfading.

For enquiries, please call:

Arina Liew

6228 7367 / 9797 8270

RYO

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Glitter Glam

ASPECTS OF REAL ESTATE.

KnightFrank.com.sg

Artisan Exchange

Otaku House

Iluma

Iluma

At Iluma, a new multi-label boutique is set to take the men’s wear scene by storm. Prized for its collection of top international brands like Red Wing Shoes and AIKA Denim & Collection, coupled with in-house label Saule, Artisan Exchange endeavours to dress the new-age man with a discerning taste for quality apparel.

Otaku House brings fun wacky gifts and toys for all ages and gender. It offers a complete range of gift choices for all occasions. From adorable, soft, huggable plushies and couple accessories, to cute Japanese sailor school uniforms, shoppers can be sure to f ind their perfect gift at Otaku House, be it for birthdays, anniversaries, graduations, or other celebrations. Otaku House has outlets at Plaza Singapura and Suntec City. Supported by Knight Frank, it has opened the third outlet at Iluma which is also situated in the heart of Singapore city.

For enquiries on Artisan Exchange, please call:

Alvin Liow

6228 7340 / 9386 6672

For enquiries on Otaku House, please call:

Arina Liew

6228 7367 / 9797 8270

Artisan Exchange

Otaku House

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For enquiries, please call:

Jane Kva

6228 7337 / 8113 3084

Cheeky Chocolates

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ASPECTS OF REAL ESTATE.

Retail

Cheeky Chocolates

Red Velvet

Iluma

Iluma

Cheeky Chocolates serves high quality, greattasting, affordable chocolates, food and desserts which cater to the foodie lifestyle of Singaporeans. Known for its first shop along Upper Thomson, Cheeky Chocolates has now made its presence at Iluma. Owner, Aaron Choy, recounts “It has been a pleasure working with Knight Frank to develop the newest Cheeky Chocolates outlet at Iluma. From the site survey to the final finishing touches, our Knight Frank agent, Jane Kva, has been an integral part of our expansion. Knight Frank has paid special attention to our needs and constraints and has helped us significantly to mitigate these concerns.”

Red Velvet is a fashion, accessories and lifestyle concept store which made its debut at Iluma. With its emphasis on visual identity, the art of dressing up takes centrestage at Red Velvet. Encompassing an exotic collection of Gothix, Gothic Princess and more, Red Velvet offers shoppers another level of trendsetting shopping experience. Red Velvet’s inspiring style and fashion can definitely provide enjoyment to customers who want to bring out a desirable look that is unique to them.

Red Velvet

KnightFrank.com.sg

The Coffee Bean & Tea Leaf Iluma The Coffee Bean & Tea Leaf opened its latest outlet at Iluma. Located beside the escalator leading from the street front, the café has a window view of vibrant Victoria Street and is great for people-watching over a cup of coffee. The design for this trendy and colourful outlet is classy and in keeping with The Coffee Bean & Tea Leaf’s style and branding. It was conceptualised with Iluma’s overall design aesthetics in mind and yet with a subtle unique edginess for the café to blend perfectly with the mood of Iluma and to connect with shoppers. For enquiries, please call:

Diane Low

6228 6810 / 9684 0647

The Coffee Bean & Tea Leaf

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Information herein is accurate at the time of printing. For enquiries or further information, please contact: Knight Frank Agency & Professional Services: Auctions, Local & International Investment Sales, Research & Consultancy, Sales & Leasing of Industrial, Office, Residential & Retail space, Valuation, Shopping Centre Management & Property Management. Head Office: 16 Raffles Quay #30-00 Hong Leong Building Singapore 048581. Tel: 6222 1333  Fax: 6224 5843