Hong Leong Group’s Global Headquarters Heads To Damansara City

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GuocoLand (Malaysia) Berhad (GuocoLand) recently confirmed that its flagship development, Damansara City, has been chosen as the future home for the Hong Leong Group’s global headquarters. The 33-storey Grade-A office tower block in the southwest (direction) end of the iconic development, will be the star anchor tenant within Damansara City, once it is fully occupied by the end of second quarter next year. Office Tower A’s 530,000 sq. ft. of usable area will be progressively handed over to various operating companies within the Hong Leong Group in coming months.

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“This announcement reinforces the position of Damansara City as the heart of a leading new business district in the Greater Kuala Lumpur and Damansara Height’s community. It  underscores our unique combination of factors that sets us apart and has spurred both investor and corporate interest in the project to date. This includes our location within the exclusive enclave of Damansara Heights which is mere minutes away from Bangsar, the KL city centre, the KL Sentral transportation hub and other established townships; the highest levels of seamless integration between our corporate, residency and hospitality facilities; the onsite presence of a refined and curated lifestyle mall; and accessibility through multiple road systems and the soon to be completed MRT line,” said Tan Lee Koon, Managing Director of GuocoLand.

Damansara City, with a gross development value of RM2.5 billion, is an Entry Point Project (EPP) under Malaysia’s Economic Transformation Programme. It has been identified as a key component and driver of one the fastest growing business districts in the Greater Kuala Lumpur area with strong and growing interest from buyers and tenants across South East Asia.

The Hong Leong Group is a leading conglomerate based in Malaysia with diversified businesses in banking & financial services, manufacturing & distribution, property development & investment, hospitality & leisure, and principal investment. The Group today controls a number of listed companies in various stock exchanges with hundreds of operating subsidiaries and associate companies in Malaysia to North and Southeast Asia, Western Europe and the UK, as well as North America and Oceania.

The jewel of Damansara Heights, Damansara City is an integrated city development consisting of two Grade-A office towers; two towers of luxury residences known as DC Residency; an F&B-centric lifestyle mall; and a 5 star hotel. The entire project will be fully operational by mid 2016.

The office spaces at Damansara City are setting a new benchmark, not just in the Damansara Heights and greater Kuala Lumpur areas but also inviting great interest in the regional property market. Strong regional demand for both its commercial and living spaces is being driven especially by Damansara City’s strategic location in Damansara Heights and office towers which are MSC-status ready developments that comply with the Green Building Index (GBI) Certified rating; the Leadership in Energy & Environmental Design (LEED) Gold rating; and CONQUAS Quality Assessment for its building construction works.

Hong Leong Group is the first of several prominent brands that are moving their corporate headquarters to Damansara City. DC Mall, the soon to be opened lifestyle and F&B heart of Damansara City is also seeing strong demand for its space as it has already secured in-principle agreements with some well known local and international brands for half its lettable space as well.

“This is translating into ever growing demand for the residential towers within Damansara City which is why we have decided to officially open Tower A of DC Residency for sale to the general public with very attractive packages for early bird purchasers from today,” announced Tan who added that a healthy portion of DC Residency’s units had already been placed through private showings and previews here and around the region.

DC Residency offers two 28-storey residential towers, consisting of 370 contemporarily designed serviced apartments with built-up areas (for typical units) ranging between 899 sq ft (1 bedroom) and 2,705 sq ft (3+1 bedroom).

Residents and tenants at Damansara City will, in addition to the host of facilities, also have access to a walking garden along the top of the retail mall. This is on top of the health and gym facilities that include an Olympic length salt-water pool and an aqua gym for residents at DC Residency.

The choice destination for some of Malaysia’s most influential people, living in DamansaraHeights is often seen as the highest mark of stature and accomplishment. It is also a key target for investment among local and international buyers who are looking to invest in integrated high-end property in Kuala Lumpur. Over the years, the tranquil neighbourhood has been a steady investment magnet to affluent homeowners and expatriates but recent interest in developments in the area has reignited higher demand for the increasingly scarce property within Damansara Heights.

Damansara City appeals to buyers looking for a lifestyle close to the amenities offered while enjoying easy access to nearby townships and the Kuala Lumpur city centre. The upcoming MRT station that will be completed in the coming months will also link them to KL Sentral which will house the future KL-Singapore Rail Link station as well which was announced by both Prime Ministers of Malaysia and Singapore last month.

“Now more than ever high achievers and discerning buyers are opting for a social lifestyle that’s about convenience and quality – living close to shops, cafes and amenities with everything they need within reach. GuocoLand, being an expert in creating thoughtful spaces, is leading the way in master-planned communities, as it offers a place for residents to belong – an excellent opportunity for residents to live, work, play and become part of a community of the very best people,” added Tan.

GuocoLand expects Damansara City to have an initial traffic of 10,000 people daily working within the integrated development and average another 6,000 visitors when it is fully operational. The future development of surrounding areas is expected to enhance the foot traffic within the area and further increase the demand for and the valuation of Damansara City’s units in both the residential and commercial towers.

GuocoLand has built an enviable track record as a leading property developer with a history that spans over 50 years in residential townships, commercial and mixed development projects in Malaysia such as the upcoming master planned townships Emerald Rawang and Pantai Sepang Putra, as well as upcoming Alam Damai and Jasin. It is part of the Singapore-based GuocoLand Ltd, which is a leading regional property player with established operations in China, Singapore and Vietnam.

 

Shanghai Intelligent Building Technology highlights diversified intelligent building technologies with added efficiency

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Shanghai Intelligent Building Technology (SIBT) will once again return to the Shanghai New International Expo Centre from 23 – 25 September 2015. The fair is jointly organised by Guangzhou Guangya Messe Frankfurt Co Ltd, the China Council for the Promotion of International Trade – Shanghai Pudong Sub-Council, and Shanghai Hongshan Exhibition Service Co Ltd. For 2015, the scale of the event will increase to occupy over 15,000 sqm of exhibition space and is expected to welcome approximately 280 exhibitors.

Ms Lucia Wong, Deputy General Manager of Messe Frankfurt (Shanghai) Co Ltd, commented: “Shanghai Intelligent Building Technology has established itself as the most comprehensive annual platform on intelligent building technologies for the China market and will celebrate its ninth edition in 2015. Being a technology driven event, the fair is constantly evolving to cope with rapidly changing market trends. Today, intelligent building markets are looking for total solutions with value-added properties and greater efficiency. Fortunately, new building technologies and product functions are arising from the collaborative crossover of disciplines such as building automation, fire safety and security. Moreover, the integration of the IT and intelligent building industries is significantly enhanced by the pervasive nature of the Internet of Things. Cloud computing and big data are altering the behaviours of building analytics vendors. Recognising this, the show will exhibit diversified intelligent building solutions including but not limited to generic cabling and data centres, energy management and building automation, and building energy saving.”

 

Over 90% of exhibition booths reserved, exhibitors to unveil the latest building solutions

 

With just three months before the show, the fair is receiving positive feedback from the exhibitors. In fact, over 90% of exhibition booths have already been reserved and exhibitors are eager to present their latest intelligent building solutions. Some noteworthy exhibitors confirmed for the ninth edition include:

 

  • Beckhoff is a German manufacturer specialising in open automation systems based on PC control technologies. Mr Licky Bao, Branch Manager of Beckhoff Automation (Shanghai) Co Ltd, noted: “Intelligent building has become an important indicator for urban development. For our first-time appearance at the exhibition, we will introduce our new technology for intelligent building automation to the visitors. Our innovation is developed from the philosophy ‘New Automation Technology’. It represents the universal, open control and automation solutions that can adapt to different applications including intelligent building automation. We are confident that our participation can benefit Beckhoff’s brand promotion and business growth.”

 

  • EnOcean Alliance is an international standard organisation that develops and promotes self-powered wireless monitoring and controlling systems for sustainable buildings. Mr Graham Martin, Chairman of the group, shared details of the alliance’s fourth year participating in the fair. He mentioned: “This year, we will be joining our member companies to demonstrate EnOcean wireless and batteryless solutions. On display will be a series of monitoring and controlling technologies for energy efficient buildings and smart homes that gradually become maintenance-free, as well as offer great flexibility in systems planning and implementation.”

 

  • The China Data Center Committee (CDCC) is comprised of over 200 member companies. These companies, which aim to promote the Data Center’s technologies throughout China, will once again join the exhibition for the upcoming edition. Mr Luo Yuxi, CDCC Manager, explained: “Exhibiting alongside our member companies, we will highlight the latest data centre solutions, cabling products and accessories at the 2015 fair.”

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Anticipated debut of Shanghai Smart Home Technology addresses the future of home automation

 China’s smart home market is projected to expand to USD22.8 billion by 2018, as found by Juniper Research. The trend towards smarter and more efficient homes is growing extensively. Increased demand for related technologies has coincided with a surge in the interoperability between smartphones and tablets with a myriad of other connected objects and devices.

 

To cater to rapid growth in the smart home market, the organisers of Shanghai International Building Technology are collaborating with China Smart Home Industry Alliance (CSHIA) to introduce Shanghai Smart Home Technology (SSHT). This fair will run concurrently with SIBT 2015.

 

Ms Lucia Wong remarked: “The aim of cooperating with the CSHIA to launch SSHT is to create an effective business platform that will generate new ideas in China’s smart home industry. The fair will not only promote the concept that smart homes are surrounded around comfort and convenience, but it will also unveil the core technologies behind smart homes, including intelligent terminals, Internet of Things, communication protocols and more. During the fair, demonstrations of an array of solutions will be applied to basic security monitoring, customised access to appliances, lighting, window coverings, irrigation, entertainment systems and more.”

 

The fair receives immense industry support from leading global brands. They include names such as Control 4, Wulian, Beckhoff, WAGO, HaiLin, Nantong Boyun, Hi Champ Technology, RICI, TCS, KNX, EnOcean, Z-Wave, Echelon, Hikvision, Cinemaster AVSTYLE, HDL, ORVIBO, Tiancheng and many others.

 

Shanghai Intelligent Building Technology (SIBT), the sister show of   Guangzhou Electrical Building Technology, is a part of Messe Frankfurt’s building and energy shows, headed by the biennial Light + Building event in Frankfurt, Germany, which will take place from 13 – 18 March 2016.

 

SIBT also follows a series of light and building technology events in China, including Guangzhou Electrical Building Technology, Guangzhou International Lighting Exhibition, Shanghai Smart Home Technology and Shanghai International Lighting Fair. Additionally, light and building fairs will also be hosted in Argentina, the United Arab Emirates, Russia and India.

 

 

For more information on Light + Building shows worldwide, please visit www.light-building.com/brand.

 

To find out more information about Shanghai Intelligent Building Technology, please visit www.building.messefrankfurt.com.cn or email building@china.messefrankfurt.com.

One Powerhouse Event, One Comprehensive Solution

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An Unparalled Technology Showcase from Across the Globe

A not-to-missed annual business platform for the commercial and industrial building sectors in Southeast Asia and beyond, Mostra Convegno Expocomfort  (MCE) Asia will bring to you a wide range of cutting-edge solutions in HVACR, Water and Energy from around the globe that meets the market’s needs for energy efficiency and reduced resource consumption.

MCE Asia will be held in Marina Bay Sands Singaporefrom 2 – 4 September 2015 and will congregate these key brands – Altech Equipment Systems, Bitzer Refrigeration, Belimo, Caleffi, Cimberio, Coes, DaikinAirconditioning (Singapore) Pte Ltd,Deos Control Systems, Ebm-Papst, Galletti, Itap, KSB, Mitsubishi Electric Asia Pte Ltd, Panasonic, RubinetterieBrescianeBonomi, Saudi Ceramic Company, Reflex, Reliable Controls, Smartdt Chillers, and many more.

Together with the co-located Build Eco Xpo (BEX) Asia 2015, visitors to MCE Asia 2015  can conveniently source from more than 450 exhibits from around the globe.

 

Catalysing Asia’s Global Comfort Technology and Energy Efficiency Industries

 Apart from a holistic showcase of solutions that you can experience up close, MCE Asia will also have a seminar platform called Mostra Xchange – where insights from leading leading personalities in the HVACR sphere and product showcases will converge to keep sector professions like yourself ahead of the growing competition.

The notable lineup of speakers include Prof. William P. Bahnfleth, ASHRAE Presidental Member from 2013 – 2014 and now Professor of Architectural Engineering and Director of Indoor Environment Center in The Pennsylvania State University; Jay Egg, President of EggGeothermal Consulting; Man Kit Leung, Director of Sustainable Design, Ronald Lu & Partners; Lim Soon Heng, Director of Strategic Development, Singapore Power and more.

MCE Asia as a business platform is made even more extraordinary with its tailored Business Matching programme that connects relevant exhibitors with interested trade visitors.

Stemming from its success during the last edition, the “No-Coat, No Tie” dress code will make a return at BEX Asia and MCE Asia 2015, as part of both events’ efforts to reduce energy usage by keeping the in-hall temperatures at a sustainable yet optimal comfort level.

 

Global Green Building Community Gathers in Singapore

Collectively, BEX Asia 2015, MCE Asia 2015 and the International Green Building Conference (IGBC) 2015 will be the key platforms during the Singapore Green Building Week in September for the exchange of global expertise, knowledge and solutions for the future of Southeast Asia’s Sustainable Built Environment.

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For enquiries of the event, please contact:

Reed Exhibitions

Email: mce-asia@reedexpo.com.sg

Things To Know Before Selling Your Scrap Metals

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The most common complaint from customers is that scrap dealers are unable to pay for the scrap metal sold. The issue gets worse when employees do not want to be involved in the transaction since scrap metal transactions are considered a very sensitive issue for most companies.

You can avoid unnecessary and time consuming trouble by simply following the tips below:

  • Always remember that scrap metal price is not everything. Ensure that the scrap dealer has built reputation and is able to pay for your scrap metal.

In Singapore context, one way is to check through ACRA for the scrap dealer’s capital. For sample purpose, please refer to the screen shot below, it stated clearly that the capital of this company is S$9,000,000.00 (in red frame).

In case you find the capital of a company is less than S$10,000.00, you will really need to consider whether the company is able to pay for your scrap metal. Assuming you have 100 Ton of scrap metals monthly, with current scrap metal price at S$250/ Ton (total amount per month will be S$25,000.00). Moreover, This amount does not include when the dealer buys from other customers, say 50 more customers. How much capital should this scrap dealer have in order to be able to purchase and pay to all their customers? Simple calculation will result in a total amount of S$1,250,000.00 (100 Ton x S$250/Ton x 50 customers).

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  • Do you know that a scrap dealer must be able to assist you in keeping track of the tonnage of your scrap metal sold?

You may ask for a monthly report of the tonnage of your scrap metal sold. You can utilise this report for auditing and accounting purposes. In addition, you will be able to know whether you have too much or too little scrap metals at each project sites.

  • Are you dealing with an honest and trustworthy scrap metal dealer?

Is there any unpaid transaction? Are they delaying your payment? Make sure there will not be any missing payment to your company.

  • It is recommended to use third party weighing service when you are selling scrap metal to protect your own interest?

Most of the large scale construction companies are using third party weighing service. This is done to compare the differences in weight measured at the scrap dealer’s yard. Better be safe than sorry.

  • Remember to adhere to all regulations set by the local authority.

In Singapore, all transactions of scrap metal MUST be done via crossed cheques payment strictly.

 

This article was originally posted on http://ylssteel.com.sg/.

About YLS STEEL PTE LTD

With more than 30 years of experience in the industry, YLS Steel Pte Ltd is currently one of the largest ferrous scrap metal recycling companies in Singapore. Together with wide range of steel material available, YLS Steel offers you one-stop solutions from steel material rental to scrap metal recycling for your projects.

Volvo Trucks releases five new features for rough terrain

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Volvo Trucks continues to improve productivity within construction by releasing another five new features, including Volvo Dynamic Steering for dual front axles and increased front axle loads. This further highlights Volvo Trucks’ special attention to the construction segment.

The first Volvo FMX from 2010 was followed up with a completely updated version in 2013, including innovative breakthroughs such as Volvo Dynamic Steering. In 2015 Volvo Trucks introduces a new series of solutions that enable trucks and drivers operating in tough conditions to perform their work more smartly and efficiently.

“Volvo trucks have a solid reputation for their quality and drivelines. By adding new, innovative features we give our customers access to a broader range of options and unique ways to improve productivity,” says Ricard Fritz, Vice President, Volvo Trucks Brand.

In addition to introducing a heavy duty bumper for the Volvo FH series and the industry-first Automatic Traction Control function for the Volvo FMX, five more features are now available:

Volvo Dynamic Steering for dual front axles: Volvo Dynamic Steering is now also available on trucks with dual front axles, a very common configuration in construction operations. Since such trucks often carry particularly heavy loads or superstructures, the benefits are very noticeable for the driver. In addition to far lower turning resistance at low speeds, the steering wheel returns automatically to the straight-ahead position after full lock, cutting out the need for added effort in close-quarter manoeuvring and saving the driver both time and energy. Volvo Dynamic Steering, which was launched in 2013 and was showcased in for example the YouTube hit “The Hamster Stunt”, consists of an electric motor that compensates for vibration and steering wheel movement while minimising the amount of force needed to steer the truck.

Increased front axle loads, dual front axles: Volvo’s heavy duty trucks with dual front axles increase the maximum technical capacity from 18 to 20 tonnes. Customers benefit from both improved productivity and added flexibility. The extra capacity translates directly into increased income-earning capacity, something that is particularly valuable when transporting heavy materials in construction operations. On a 4-axle truck with a gross weight of 32 tonnes the load bed is also longer and there is greater flexibility regarding where to place a load such as gravel in a tipper body. This means maximum load is reached more quickly when loading and that the driver can be certain about meeting weight limitations. Higher load capacity above the front axles also permits a greater variety of crane configurations and allows other applications with considerable weight on the front axles.

Five-axle trucks, 10×4 and 10×6: On many markets, the trend is towards increased gross combination weights of between 50 and 76 tonnes. In order to meet the demand for heavier applications both on highways and in construction, Volvo Trucks is now launching factory-built 5-axle combinations. The two front axles permit up to 20 tonnes maximum load and the three rear axles can handle up to 36 tonnes, resulting in both increased payload and greater flexibility for customers. This solution is also suitable for concrete pumps and large crane trucks that need uniform axle load distribution. By reducing pressure on the axles, many of these vehicles can be transported over longer distances on regular highways, resulting in both faster transportation and increased income potential.

Rear air suspension in combination with driven front axle (Volvo FMX): The new possibility of combining an air-suspended rear axle with a driven front axle permits the highest level of comfort even for trucks with all-wheel drive. Whereas leaf springs are generally dimensioned for the heaviest weights, air suspension offers the flexibility of adjustment to suit the weight of the load. This results in a smoother driving experience and less wear on truck, driver and road surface. Thanks to less vibration – especially when the truck is driven without a load – the driver can maintain a higher average speed on bumpy construction site roads and can thus handle more deliveries during each shift. In addition to the enhanced comfort, Volvo Trucks’ air suspension also offers ground clearance of at least 300 mm and effective protection for all vulnerable components.

Electronic Brake System for drum brakes: Now even customers who specify drum brakes for operation in particularly dusty or wet conditions can benefit from the advantages of Volvo’s Electronic Brake System (EBS). The system’s electronics give access to a range of intelligent functions such as Hill Start Aid for better control on steep gradients. Safety is also improved thanks to integration of engine braking and retarder function, known as Brake Blending. In addition to improved brake function, EBS in combination with drum brakes also offers access to Volvo Dynamic Steering (not with drive to the front wheels) and more efficient gear changes since I-Shift obtains some of its information from the electronic braking system.

“We want to be the leading brand in the construction segment just as we are in long haul. These new features in combination with our completely updated product range clearly sets a new standard for what a construction truck can deliver,” says Ricard Fritz, Vice President Volvo Trucks Brand.

The Volvo Trucks construction offer

In addition to the Volvo FMX, Volvo FH and Volvo FH 16, the Volvo Trucks construction vehicle range also encompasses the Volvo FL with four-wheel drive and gross weight of up to 18 tonnes, and the Volvo FE with maximum gross weight of 26 tonnes. Together with an extensive workshop network and advanced services for excellent availability, customers benefit from considerable flexibility to create individually tailored and safe solutions.

Watch the feature film here: 

Xylem technology to deliver clean water for industrial and drinking water use in Singapore

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SINGAPORE – Xylem Inc. (NYSE: XYL), a leading global water technology company dedicated to solving the world’s most challenging water issues, has been awarded a contract worth more than $500,000 to supply ultraviolet (UV) disinfection solutions to a major municipal water reclamation facility in Singapore. As a result of the extensive treatment including Xylem’s Wedeco UV disinfection solution, the city’s industrial sector and communities living in the east of the city, will benefit from an additional 228,000 tons (50 million gallons) of reclaimed water per day.

 

The second Changi Water Reclamation Plant will include microfiltration, reverse osmosis and Xylem’s Wedeco Spektron 2000e UV disinfection system and is an initiative of the Singapore Water Reclamation Study, also known as the NEWater Study. NEWater is high-grade reclaimed water produced from treated used water that is further purified using advanced membrane technologies and ultra-violet disinfection, making it ultra-clean and safe to drink. Currently up to 30 percent of Singapore’s water needs are met by reused water. NEWater is working to meet 55 percent of Singapore’s water demand with reclaimed water by 2060.

 

Johnson Tang, Managing Director, UESH Holdings Pte Ltd, the company responsible for constructing the new facility, said, “This second Changi water reclamation plant is another important step toward Singapore securing the majority of its water needs from reused water. Xylem’s Wedeco Spektron 2000e UV system delivered on the project requirements for a sustainable and efficient wastewater disinfection option with a low life cycle cost.”

 

Robin Wong, General Manager, Xylem Singapore and Regional Marketing Director, Greater Asia for Xylem said, “Singapore is at the cutting edge of water reuse. As a company focused on developing innovative, efficient solutions to the global water challenges, we are proud to support this latest step in the nation’s journey towards increased water reuse.”

 

Xylem’s Wedeco Spektron 2000e UV disinfection systems feature low-pressure, high-power 600 watt Ecoray UV lamp technology, reducing lamp count by 60 percent, minimizing maintenance and lowering energy costs. The systems are designed for maximum effectiveness against waterborne pathogens and have been extensively tested, meeting the requirements of recognized regulations for safe and sustainable water disinfection, including the German DVGW directives, the US EPA’s UVDGM and the NWRI Guidelines for Drinking Water and Water Reuse (2012).

 

The second Changi Water Reclamation Plant will be operational in 2016.

Climate change mitigation: Essential to build resilience into infrastructure

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Mr Yuen Sai Kuan has pointed out the Government”s efforts in sharing expertise with other countries in the mitigation of and adaptation to the impact of climate change (S”pore active in sharing know-how on climate issues; June 8).

For any country to deal with climate issues effectively, the sharing of engineering expertise and practical engineering innovations is required, to complement the Government”s efforts.

Engineers design, operate and maintain the infrastructure, housing and transport networks that we all depend on daily.

As cities continue to develop, new engineering solutions are needed to address constraints posed by the physical environment and the changing climate.

As a small city-state that has built itself to a world-class standing in less than 40 years and gained significant know-how in sustainable urban engineering solutions, Singapore is in a unique position to share tropical climate-friendly technologies with other countries for deployment.

The Institution of Engineers, Singapore (IES) online casino will host the World Engineers Summit (WES 2015) on Climate Change next month, where global thought leaders will gather to discuss sustainable urban development for global climate resilience, as it is absolutely essential to build resilience into our current infrastructural development for long-term benefits.

As part of WES 2015, corporate and industrial climate change champions will also showcase their latest green and sustainable technologies at Climate Change Expo 2015.

The pledge by the Group of Seven and the upcoming push at the Conference of the Parties in Paris in December to decarbonise the global power sector, as well as the recent call by Pope Francis to more than one billion people to do their part, are a clear message that climate change is at the top of the global agenda (Long, urgent to-do list for G-7; last Tuesday, and Pope urges action to save Earth from destruction; last Friday).

Climate change is an issue that is here to stay, so it is also our hope that WES 2015 will bring the reality and urgency of this issue to our engineers and to the attention of the younger generation worldwide, as we call for continual exchange of expertise and solutions for the long term.

$483m top bid for private home site in Queenstown

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A PRIME private residential site in the mature Queenstown estate has attracted nine bids from developers – with the best offer well above expected levels.

The top bid of $483.2 million from Chinese firm HY Realty, was 8 per cent higher than second-placed Allgreen Properties.

HY Realty”s bid translates to $871.10 per sq ft per plot ratio (psf ppr) for the 1.05ha parcel – higher than the expected top bid range of $750 psf ppr to $820 psf ppr.

Mr Desmond Sim, CBRE research head for Singapore and South-east Asia, said: “With a winning margin of 8 per cent, the bid demonstrates the confidence in the mature estate of Queenstown, with its network of amenities and the MRT station located right next to the site, and the stability of the Singapore market.”

R”ST Research Director Ong Kah Seng said, “The winning margin is less than 10 per cent, so it means the top two bids are similarly interested in the plot.”

The Dundee Road plot was launched on April 29, with the tender closing yesterday. Experts had expected five to 10 bids.

But JLL head of research and consultancy Chua Yang Liang noted that this plot had the fewest bidders for a residential site in what is known as the rest of central region since the third quarter of last year – when a Sims Drive site had only four bidders.

This suggests a weaker interest, online casino compared with the 14 bidders for the site in Lorong 6 Toa Payoh which closed just last week, he said, referring to a 1.22ha plot not far from Braddell MRT station.

Rodyk & Davidson partner Lee Liat Yeang said it was a bullish bid by HY Realty, possibly owing to the close distance to the MRT station. He added that developers are probably concerned with the abundant supply of new units in the Alexandra and Queenstown area.

The Dundee Road site, set to yield about 645 homes, was offered for sale on a 99-year lease.

Mr Sim said that with the total debt servicing ratio – a tougher mortgage rule – approaching its second year since implementation on June 29, bidders for this site have the advantage of being able to punt on a possible review of the property measures.

JLL”s Dr Chua said: “We reckon the developer could be looking at a selling price of between $1,550 psf and $1,600 psf, assuming a construction cost of between $320 psf and $360 psf.”

A spokesman for HY Realty said it is not a unit of Chinese developer Hao Yuan as was reported, but it has the same shareholders as Singapore-based Hao Yuan Investment, which is controlled by mainland shareholders.

He said HY Realty has plans to build a 700-unit condominium on the site, expected to be launched in the first quarter of next year.

“We are confident of this site as city-fringe homes are always in high demand because of the close proximity to the city centre.”

Asia has the world’s most expensive construction disputes with an average value of US$85.6 million

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Hong Kong — Disputes relating to major global construction projects increased significantly in value to, on average, US$51 million in 2014 with Asia topping the ranking with an average dispute value of US$85.6 million according to ARCADIS, the global natural and built asset design and consultancy firm. This represents the second consecutive year in which values have increased with the global average now reaching $51 million, up almost $19 million on 2013. Significantly, the number of projects going into dispute is also expected to rise during 2015, with low margins agreed during the economic downturn and labor shortages in some markets likely to prove a catalyst for disputes.

This year’s report, Global Construction Disputes: The Higher the Stakes, the Bigger the Risk, is ARCADIS’ fifth annual study into the duration, value, common causes and methods of resolution of construction disputes across the globe. The global average time taken to resolve disputes rose to 13.2 months, up from just under a year in 2013. Significantly, all regions of the world saw the resolution process take longer, with the exception of Asia, where the average length of dispute took two months less than the previous year.

Mike Allen, Global Lead of Contract Solutions at ARCADIS, said: “Right across the world, governments and developers are commissioning large-scale construction programs with levels of investment reaching the tens of billions. These programs are often highly complex, with a combination of tender pricing made during the recession and online casino low availability of resources, disputes are not only much more likely, but also potentially more costly. While many of these situations are resolved behind closed doors, the time taken to do so and the expense involved can create huge problems for all parties involved.”

In Asia, the research found that the most common causes of construction disputes related to the administration of contracts. The top three causes in 2014 were:

 

  1. Failure to properly administer the contract
  2. Failure to make interim awards on extensions of time and compensation
  3. Poorly drafted or incomplete and unsubstantiated claims

 

The likelihood of a joint venture (JV) ending in dispute was also reviewed in the report. Joint ventures were more likely to end in dispute in Asia than some other regions with 44% of JVs likely to do so (compared with a global average of 31%).

Gary Howells, Head of Contract Solutions, Asia at ARCADIS, said: “This is one of the largest recorded rises in the average value of dispute values within Asia’s construction market. It doubled the 2013 figures and far outstripped anything seen over  the past 5 years. This reflects the continued growth in activity in the Asia construction market, particularly in Singapore and Hong Kong, and the size and complexity of some of the world’s largest infrastructure projects being executed in the region. With the rise in Joint Venture arrangements in Asia, the risk of dispute is also higher than ever.”

Global construction disputes – summary of results

Arcadis report
Source: ARCADIS Global Construction Disputes: The Higher the Stakes, the Bigger the Risk

Read the full report: ARCADIS Global Construction Disputes 2015. This research was conducted by the ARCADIS Contract Solutions experts and is based on construction disputes handled by the teams during 2014.

Industrial-strength carpet made from recyclable items

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ec group carpets

AN industrial-strength carpet made of used fishing nets and plastic bottles which is also recyclable is attracting attention from architects keen “green building” products.

The carpet, manufactured by ec.group in South Australia, uses recycled fish netting in the pile fibre and recycled plastic bottles for the backing and is 100 per cent recyclable.

The carpet has attracted international attention and was last month awarded a Good Design Award from Good Design Australia.

According to ec.group general manager Chris Timberlake, the company’s Wilderness carpet line provides superior noise acoustic properties, impact absorption, is ultra-hard wearing, thermal efficient and breathable.

The boutique manufacturer, which has been operating in South Australia for 50 years, joined with a Thailand-based partner and manufacturer to develop the product in response to increased demand for products that help buildings achieve “green’’ status.

“This carpet is 100 per cent recyclable at the end of its life which is extremely attractive to architects and designers who wish to achieve high “green ratings’’ for their buildings,’’ said Timberlake.

Chief Executive Officer of the Green Building Council of Australia, Romilly Madew, said since the Green Star rating system was launched in 2003 it has rewarded clever re-use of materials – both in base buildings and in fit-outs.

“Not only do the rating tools encourage re-use of structure and façade, and using less to achieve the same outcomes, but they encourage project teams to think about what they are using, where those materials come from, and to consider innovation in every aspect of what they do,’’ Madew said.

“As a result, Green Star has driven designers and architects to think more strategically about how they can reuse materials to reduce the amount of construction waste going to landfill.  Many of the examples of reuse are more functional than artistic however, there are a number of Green Star projects which have made ‘upcycled’ materials a feature of their designs.’’

The ec.group are currently selling the Wilderness product in North America and the United Kingdom.

“It is still quite a new product at the moment,’’ Timberlake said.  “But the momentum has clearly started following successful trade expos in Chicago, Melbourne and Sydney last year. We expect to be launching a marketing campaign across the United States by the end of 2015.

“We are currently selling above our initial forecast and we expect to double that figure within 12 months.’’

“In Australia the carpet has already been laid in schools in New South Wales, high-end hotels in Adelaide and entertainment venues in Melbourne. The take up has been quite rapid and is Australia wide.’’

Executive Director of the Property Council for Australia (SA), Daniel Gannon said increased use of eco-friendly, sustainable building materials provided a “win win’’ scenario within the building industry.

“From policy makers down to tenants of commercial buildings there are great advantages for using recycled and sustainable products in construction and redevelopment,’’ he said.

“Whether it is good corporate citizenry or creating genuine sustainability there is a much higher awareness of the benefits of eco-friendly products in the commercial sector than there was 20 years ago.

“Those in the market are looking for a higher level of sophistication in design which can also improve valuation.”