It was recently announced that the prime development in Singapore’s CBD district would be offering fewer units but bigger apartments. Perennial (Capitol)’s director, Pua Seck Guan, tells us why they are bucking trends.
19 December, 2011
Capitol Development is strategically sited in Singapore’s Downtown Core and covers 3 significant conserved buildings – Stamford House, Capitol Building and Capitol Theatre.
When completed by 2014, it will have a luxury hotel, and exclusive residential tower, a shopping mall and a cinema cum theatre.
Of note was the announcement that the number of units in its residential tower would be reduced in favour of larger apartments. While preliminary permission had been given to build 38 flats, 2,000sq ft each, in the 10-storey residential tower, the decision had been made instead to build 34 luxurious units, starting from 3,000sq ft.
It’s a move that rides against recent industry trends, where many developers are building smaller units to keep them more affordable.
“In the planning of the residential layout and sizes, we took into consideration the overall positioning of the Capitol Development and its strategic location in the civic and cultural district,” says Perennial (Capitol) Pte Ltd’s director, Pua Seck Guan.
The project is a joint venture between 3 parties, which includes Chesham Properties Pte Ltd and Top Property Investment Pte Ltd.
“The concept of living amidst a conserved national monument like Capitol Development, comprising a unique blend of residences, a hotel, shopping mall and theatre cum cinema, is unprecedented in Singapore,” says Pua, on how the development will compete in the market.
It will also be in close proximity to the Marina Bay area and many heritage sites, including the Saint Andrew’s Cathedral, the Singapore Art Museum and the soon-to-be-completed National Art Gallery.
“The generous sizing of the residential units complements the development well,” says Pua, and “will serve to fill the void of good size residential units” in the area.
He adds that the hotel will be 6-star, the retail component will offer new-to-market and flagship stores, while the theatre will be one of the largest single screen venues
On the appointment of Richard Meier and Partners as lead design architect for the project, Pua says: “They have extensive experience in conservation and integrated projects; coupled with that is their ability to infuse a modern twist into creating visually compelling works of architectural art and urban spaces.”
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