We investigate the appeal of branded residences—these include the St. Regis Residences Singapore, The Residences at W Singapore Sentosa Cove and the upcoming The Pullman Residences
With the concept of home getting increasingly refined, branded residences are set to become the hottest investments in Singapore. Frequently launched in collaboration with hotel operators, these private condominium apartments capitalise on the prestige associated with the luxury hospitality groups, and fulfil the buyers’ preferences for hotel-like amenities and concierge services.
Over the past 10 years, the branded residential sector has grown 170 per cent, and 2020 is set to be another record year, according to Savills 2020 report on branded residences. “This has seen the addition of more than 52,000 units across 370 schemes. Despite the current global situation, 2020 saw more than 100 new schemes opening,” says Michael Roberts, director of the hotels segment at Savills Asia Pacific.
The concept didn’t catch on in Asia until 1988—more than 60 years since the first property in the US—with resort destinations such as Phuket and Chiang Mai. Despite that late start, an average of one in three new branded residences launches globally is located in Asia.
As a metropolis, Singapore was somewhat of an early adopter in the branded residence space when St. Regis Residences Singapore launched in 2008. It was jointly developed by Hong Leong Holdings, TID (a joint venture between Hong Leong and Mitsui Fudosan), and City Developments Limited (CDL), in collaboration with architecture and design firm WATG.
“St Regis Residences Singapore required an altogether different approach, reflecting the brand and context,” says David Moore, president and CEO of WATG. The firm also designed The Residences at W Singapore Sentosa Cove in 2011.
He adds: “With the prime Orchard Road location and relatively small site, careful consideration was given to ensure the maximisation of real estate yield and value, while not compromising on the guest or resident experience and operational efficiency and privacy factor.” The property ticked many essential boxes and also added some firsts to its list; it was also the first project to cross the $3,000psf (to even $4,000psf) threshold in Singapore’s property sector.
See also: 5 Property Trends Shaping Our Search For New Homes in 2021