Oxley Convention Centre

Homegrown developer Oxley is chasing big dreams in Batam.

It is building the 20,000 sq m Oxley Convention City, which will house a convention hall and five towers - one for offices, three for residences and the other for a hotel.

Oxley executive chairman and chief executive Ching Chiat Kwong told a briefing in Batam late last month that "this is a huge development, it does have certain risk and it does involve a lot of cash commitment from the developer to make sure it works".

But he added that "Oxley is about dreams".

"Without a dream, Oxley would not have gone to Indochina, Europe and South-east Asia," Mr Ching said, referring to the projects in London, Dublin and Cambodia.

Oxley officially launched the first phase of the Batam project - in the financial district - last Saturday.

• 20,000
  Number of sq m that Oxley Convention City will occupy. 
  320
  Number of units in the office tower.
  520
  Number of housing units, from studios to penthouses. 
  130
  Number of hotel rooms. 
  1,635
  Number of units in retail and food and beverage. 
  36
  Number of months work on project is expected to take.

It comprises an office tower with 320 units, a 520-room hotel, and a retail and food and beverage area with 130 units.

There will also be three 32-storey residential towers, housing a combined 1,635 units, from studios to penthouses.

Oxley deputy chief executive Eric Low said construction of the project will begin after the first quarter of next year, with a target of 36 months for completion.

The company will build in phases, based on demand, he added.

Mr Ching said the development's "first priority" is to cater to the domestic Indonesian market, with marketing to be done in cities such as Jakarta and Surabaya.

Oxley joins a spate of developers that have ventured into Batam in recent years.

In June, luxury developer Tuan Sing announced a joint venture with private Singapore firm Habitat Properties to turn an 85ha site in Marina City into a resort-style development, comprising hotels and close to 2,000 apartments.

It will also have Mice (meetings, incentives, conferences and events) facilities as well as retail and tourist attractions.

Singapore-listed Sinarmas Land has said it will launch between 150 and 200 apartments and landed housing units by the end of this year at its 228ha Nuvasa Bay project.

Mr Ching said Oxley's market research shows that Batam hosts many conventions, so undertaking a large development for its first venture on the island looks viable.

He added that "Batam as a free trade zone is under-utilised".

The company wants to boost business there, aiming to draw international companies to the office tower.

"We feel that an integrated development like Oxley Convention City  that includes residential, hotel and retail, will help a lot of small businesses and established businesses to rethink their strategy of using Batam as a base for future business expansion, or creating a new business space in Batam," Mr Ching said.

"We see Batam as a long-term target for Oxley so we want to do the best first project, Oxley Convention City If we can do very well, we believe we will continue to do more projects in Batam."

Separately, Oxley announced on Monday that its 32-storey Oxley Tower at 138 Robinson Road has received its temporary occupation permit. It said the top three floors will be used as its corporate office with relocation expected in the first half of next year.

Oxley added that it had sold all the units.

It will be able to reduce up to $211 million of the project's debt through payment from the buyers.

A version of this article appeared in the print edition of The Straits Times on December 15, 2016, with the headline 'Oxley's big dreams for Batam'. 

How will Brexit impact Chinese investment in UK property?

Chinese demand expected to continue despite Brexit

The UK may be one of the smallest countries in the G7, but the Chinese investment passion for it has been one of the biggest love affairs in the property industry.

And now, despite the heat of the Brexit debate leading up to the shocking referendum results of Britain voting to leave the European Union (EU), Chinese buyer demand for UK property is still expected to remain strong.

46% of respondents in a recent Juwai Brexit Survey said they felt demand for UK property demand would go up if Britain exited the EU.

Not only does a weaker pound make for enticing investment opportunities, the UK has always offered appealing lifestyle factors that will continue to be strong basis for Chinese to invest in UK property.

Back in 2012, Chinese investors reportedly bought 5% of all Central London properties sold1 – that same year Hurun Report ranked the UK among  the top five travel locations for Chinese high-net-worth individuals (HNWIs).2

Now, in the first two months of 2016, Chinese invested £560.3 million (US$792 million) in London-based commercial property – equal to 40% of the total of £1.2 billion (US$1.69 billion) recorded for the whole of 2015.3 Numbers like that have surely made industry experts fairly confident about forecasts that Chinese investment in London alone will exceed that of 2015.

Juwai Data shows a similar trend – Chinese enquiries for UK property on Juwai.com grew 17.98% in Q1 2016 alone, with enquiries on property listings valued at $1.79 billion in terms of consumer enquiry value.4

Chinese buyers not expected to be negatively impacted by Brexit

The Juwai Brexit Survey, which sourced the opinions of industry experts and investors in both the UK and China, unveiled that most respondents believed the Brexit impact would be insignificant in terms of Chinese property investment in the UK.

In fact, although UK respondents were more uncertain, China respondents indicated that – despite some holding back from transactions until after the vote – international demand for UK property was expected to increase no matter the outcome. 

Furthermore, 71% of China respondents said there would be either no change or more demand for UK property should Britain leave the EU.

Juwai.com believes the UK will continue and even grow as an important destination for Chinese property investment. Chinese consumers see UK property as a relatively safe investment compared to alternatives, and consumer demand is in large part driven by lifestyle factors, with education being the top motivator.

For students continuing their educational pursuits overseas, the UK still offers world-class universities and schools, which will continue to be in high demand. With all these factors combined, Chinese demand for property investment in the UK should remain strong for years to come. 

Juwai.com CEO Charles Pittar even notes that developers and estate agents are likely sharpening their marketing pitches at this very moment, pointing to Brexit as an opportunity for offshore buyers to snap up properties at bargain prices.

“The vote for Brexit introduces some uncertainty into the market. In a backwards way, this could promote foreign property investment. If the pound loses ground on a sustained basis and domestic buyers drop out of the British property market, the results of the vote could lead to increased opportunities and a more appealing environment for foreign investors,” he adds.

This is in line with the 46% of respondents in the Juwai Brexit Survey, who indicated they felt there would be more demand for UK property if Britian exited the EU.

“If the fall in the pound persists and if local buyers continue to sit on their hands to some degree, that will create a more appealing environment for international investors...and Chinese buyers are much more likely to take note of property prices, exchange rates, available inventory and economic conditions than the simple fact of Brexit, however,” Pittar says.

Chinese consumer enquiries into U.K. property on Juwai.com in June has remained strong with a positive outlook expected still, and we'll be watching closely to see just how things unfold for UK property seekers as Brexit looms.

Find great Uk properties investment here: http://overseascondo.sg/properties/royal-wharf-london/ 

http://overseascondo.sg/properties/one-regent-manchester/

Sources: 1. Knight Frank: International investors spent £2.2 billion on central London new-build property in 2012; 2. Hurun Report: Europe Winning the Hearts of Chinese Luxury Travelers; 3. Savills: Chinese investors continue to pursue UK assets; 4. Juwai IQ Data Q1 2016; 5. Juwai Brexit Survey

The Bridge Retail with 70% NETT Rental Yield!

88.3 Jia FM will be coming down to interview buyers of The Bridge Retail this Sunday! 4 buyers will be interviewed including myself! 

Topics covered this Sunday:

- What makes Cambodia an attractive location for Investment

- Insights from industry leaders on why The Bridge Commercial makes a good investment choice

More info here: http://overseascondo.sg/properties/the-bridge-cambodia/

2016 Property Outlook

Property prices always go up. Don't try to time the market. It's time in the market which matters.http://overseascondo.sg/ Below is the property market trend for non-landed for the last 30 years since 1975. Let's take a look and try to make a rough guess of when the property market will hit bottom and start climbing back up. 

For the last 3 years, property prices have been going down slowly and steady. Singaporeans keep thinking the prices will continue to drop. So what would the property market be like in 2016? Will it continue to drop? Looking at the chart, yes. it probably would drop further. 

Looking at the chart, when the market falls steeply, it only last for 2-3 years. However, when it falls steadily, the period last from 4-5years. Reason for fall? The period it falls steeply is mainly because of recession, bad economy. The recent fall is due to cooling measures being implemented. Below i've drawn a red line which roughly touches the bottom of each cycle. The chart is marked till Q32015. Looking at the chart, prices is very likely to continue to fall this 2016 and perhaps even carry through mid of 2017(if nothing unexpected happens) before it starts to pick up. Just like all past steady falls which last 4-5years.

So, using this chart as a forecast, 2016 and 2017 is indeed a good time to buy when the property market is down. 

Will your career be prosperous in 2016?

The top 2 elements for 2016 is fire and earth. Fire means you must be lively and willing to try new things. Earth means you have to invest time and energy to be prosperous for 2016. For 2016, even if you're not in the Top 3 lucky Horoscopes, wealth will be yours if you're willing to adventure and work hard.

I'm not a fortune teller so all these information comes from "女人我最大: 新年新希望! 2016上半年工作運真能旺旺旺?" Extracted the most important information and summarised the Top 3 and Bottom 3 horoscopes for the first half of 2016.

Top 3 Lucky Horoscopes
No 1 - Leo
You're in luck this year! Your talent will be spotted. You'll finally reap the sows you've been planting. You'll feel rewarded during March - May from challenging yourself in new experiences in life. Continue to challenge yourself and break you limits.

No. 2 - Sagittarius
You're liked by your superiors and easily pushed for promotion. However, these new roles comes with great responsibilities. You're advise to cut off small things which might weigh you down. Once doing so, your career will soar. Do it by September before your luck goes down.

No. 3 - Aries
2015 has been a good year for you and your good luck will continue this year! You're flexible and you'll be surprised with career opportunities. Try to explore new career options and expand your horizons. Your beneficials are your colleagues or people who works for you.

Bottom 3 Horoscopes
No 1 - Gemini
Do you have real friends to help you through? If you have friends who you have been good to, they'll help you through this tough period. If you're down this year, means you have to reflect on how you have been treating the people around you. Although your career is down, your love life is good. You might meet you true love this year.

No. 2 - Libra
Tied down by certain things in your life. Internal conflicts is pulling you back from succeeding. It's good to take a step back and work towards doing things which helps you prepare for succeeding in future.

No. 3 - Cancer
If you're able to preserver, you'll pull through this year. You may have difficulties that you're unable to voice out like being overloaded with work that your health takes toil. Preserver and take care of your health. Take a vacation if you need to relax.

Earth Element Horoscopes- Taurus, Virgo and Capricorn
As earth element is lucky this year, opportunities will come your way. However, if you lack the fire element, not willing to get out of your comfort zone, you will not be able to prosper.

Wind Element Horoscope - Gemini, Scopio, Cancer
Although 2016 career is not good, love life is good for you. However, if you preserver, you'll be able to pull through. Be true and good to others, do not be so suspicious towards others intention.

Pacific Skyloft Manila

Our latest new launch in Manila! Stay tune for more details

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Vietnam Property Market

I'm really excited for my upcoming study trip to Vietnam this weekend! CapitaLand and Thien Duc will be launching their new project, Vista Verda in May Flower Hotel this Sunday.

Vista Verde Vietnam is strategically located in Thanh My Loi Ward, in the heart of District 2’s administrative center. From only S$15x K!

Why Invest in the Vietnam Market?

HO CHI MINH CITY • Real estate in Vietnam is at a different stage in the property cycle from the rest of South-east Asia and there are signs that the market is turning, according to Mapletree Investments' chief executive officer for the region.

Wheels of change are in motion in Vietnam. On 1 July 2015, two new policies were introduced that could transform the country’s investment landscape, especially in the recovering housing sector.

The first policy is a revised visa-free travel policy, valid for 15 days, for five European nationalities – German, French, British, Italian and Spanish – which could help increase international tourist arrivals in the country and subsequently drive demand for hotel and rental properties.

The second, and arguably more significant rule change, is the much-awaited legal reform on the Law on Residential Housing (LRH), which removes many restrictions for foreign buyers in real estate, following the government approval in November 2014.

“This is a game changer for the real estate market and a large policy shift for Vietnam where the right of foreigners to own property in Vietnam is concerned,” said David Lim, managing partner of ZiCOLaw Vietnam. “These positive developments are expected to boost demand and help improve market liquidity, especially for mid-to-high end residential housing as well as vacation and/or second homes.”

"Vietnam is seeing fairly strong economic growth, especially compared with the rest of South-east Asia. Income growth is strong with rising urbanisation and foreign direct investments," MS WENDY KOH, Mapletree Investments' chief executive officer for the region

More info http://vistaverde-vietnam.com