Mr Seah has launched Singapore’s first hotel made using shipping containers.

For S$150 to S$200 a night – depending on whether it is peak or off-season – up to four guests can stay in one of two cabins in one-north.

Mr Seah said he based the price off what other hotels around the area were charging.

Each 300 sq ft air-conditioned room has two queen-size beds, a study table, living and dining space, kitchen and bathroom.

The cabins are standalone, with none of the typical hotel facilities such as a swimming pool or a lobby available.

Instead, guests will have access to a 24-hour customer service hotline manned by Mr Seah or his wife. The rooms will also be cleaned after each stay.

During check-in, the couple will either meet the customers personally or give them the digital access code, said Mr Seah.

Mr Seah invested about S$200,000 into the venture, which he calls Shipping Container Hotel.

He spent a year to put it together, which included designing and retrofitting the cabins, bought from a container supplier in Tuas.

He plans for it to be a pop-up hotel, which he will shift to a different location every two to three years, allowing guests to explore various parts of Singapore.

Millennials are his target consumers, a group he said “are more adventurous and looking for an experience, not just an accommodation”. He also thinks business travellers who work with the start-ups in the area might be interested to stay in the hotel.

“Many Singaporeans will check into a hotel in Sentosa or in the city over the weekend as a weekend retreat. To me, that’s passé. I want Singaporeans to have a unique staycation.

“Imagine a staycation in a nature reserve, park, on the beach, or on Serangoon Island or Lazarus Island,” Mr Seah said, adding that he was interested in places off the grid that traditional hotels would not be allowed to operate in.

Mr Seah had reached out to the Ministry of Trade and Industry’s Pro-Enterprise Panel, which helped him to work with Government agencies to find an appropriate testbed site.

The JTC Launchpad at one-north was offered and he leased it until end-2020, with the option of extending it for another year.

“I want to show that Singapore is not only about Orchard Road, Chinatown, Sentosa and the Marina Bay Sands,” said Mr Seah.

The Launchpad is situated in Singapore’s technology hub, where the many start-ups and Timbre+ food centre create a vibrant atmosphere.

As part of the panel’s First Mover Framework, Mr Seah did not have to submit a tender for the plot where the hotel now sits. The framework allows entrepreneurs with unique business proposals to either get access to a public good or service more quickly, or use it at a lower rate.

“(The) PEP’s role is to serve as a connector between the business owner and the rest of the government agencies because there can be many agencies involved. If you leave it to the business owner, they may not know how to navigate,” said Senior Minister of State for Trade and Industry Chee Hong Tat at the official launch of the hotel.

“We help them to talk to the various Government agencies and if there are rules that may need to be changed, things that we need to facilitate, we will do so.”

Around 10 Government agencies were involved in this project, Mr Seah said, including the Singapore Land Authority and the Building and Construction Agency.

Mr Seah, who occasionally stays at his prototype holiday home in Johor, said the two-room setup is “just the start”.

“We would like to see if Singaporeans and tourists alike will take to the idea of living in a shipping container in unique places in Singapore,” he said.

“Eventually, we hope to have around 50 hotels all over Singapore.”

Guests can start making reservations on www.shippingcontainerhotel.com from Saturday.

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The 60-year leasehold land, acquired from JTC Corporation, will be used to build a development for co-living, under Ascott’s co-living brand lyf. It will offer an estimated 324 units across two residential blocks and is slated to open by 2021.

This acquisition accounts for an estimated 3% of Ascott Reit’s total asset value, and brings Ascott’s lyf brand in Singapore to three – lyf at Funan is scheduled to open in 2020, while lyf at Farrer Park is slated to open in 2021.

Ascott hopes to target millennials and young working professionals working in the one-north cluster, a 200-hectare development zoned out by the Singapore government to house research facilities in fields such as media, engineering, ICT and the sciences.

This is the first time Ascott Reit is building a property, as opposed to acquiring completed properties.

Mr Bob Tan, Ascott Residence Trust Management Limited’s (ARTML) Chairman, said: “Ascott Reit is acquiring a prime site in Singapore to build a property on our own for the first time. Compared to acquiring completed properties, this investment not only allows us to have an early entry at a lower cost, enjoy development profits, but we can also expect higher yield in the long term. This development only accounts for about 3% of Ascott Reit’s total asset value, which is within the 10% regulatory limit on property development for REITs. Singapore is a safe environment for construction, and by designing and building the property ourselves with customised specifications and having it managed by our sponsor, Ascott, we can be assured of building quality and strong operating performance. After the acquisition, Ascott Reit’s gearing will be 37.2%, which is below the 45% gearing threshold, thereby offering adequate debt headroom for the funding of the acquisition.”

Lyf at one-north will be designed by architecture firm WOHA.

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Launched in 2001, the business park is now home to more than 400 companies with about 46,000 workers.

Earmarked as Singapore’s technological and innovation centre, one-north started out as a Biotechnology hub before expanding to include Information Technology and Media.

One-north’s master planner JTC Corporation said about 1.7 million square metres of office space has been built in the area and the park now spans across Biopolis near Buona Vista to Fusionopolis and Launchpad near Ayer Rajah Cresent.

The occupancy rate for office space is averaging more than 90 per cent for the whole district.

Director of JTC’s New Estates Division Aaron Tham said: “The office take up rate is quite good. In Biopolis we are doing more than 80 per cent. In Fusionopolis and Launchpad areas here where all the startups are, we are doing well over 90 per cent.”

Analysts such as International Property Advisor CEO Ku Swee Yong said that the One-north template has been positive as large corporations act as anchors for Small and Medium Enterprises (SMEs).

“By and large this area has been very successful in not just capturing the multinational companies to set up a strong base… but also researchers, supply chain partners of these large companies and startup companies who are supplying content and services to these large companies.

“So overall I would say the community has been built up very well. The entire ecosystem is probably matured enough to have this entire science park and industrial estate sustain itself very comfortably,” said Ku.

TRAFFIC STILL AN ISSUE

Despite its rapid growth, there are still some growing pains.

Traffic congestion is one issue for the business park – worsened by the ongoing construction.

Developer JTC said it recognises the problem and has been working to improve connectivity over the past year.

Mr Tham said: “We think hard about adding supply into the system… For example, we put in place the one north rider in July 2016. It’s a high capacity shuttle bus.

“Another measure we are taking is the building of the Mediapolis flyover, which is located at one end of Mediapolis, near Portsdown Avenue. We are almost 50 per cent done in constructing this flyover and it should be ready by the middle of next year. It will help the cars to get in and out of Mediapolis even quicker,” he added.

Looking ahead, JTC added that it is still barely half-way into one-north’s 40 years masterplan development.

“There is still the whole of Ayer Rajah industrial estate where there is a lot of empty land that we can keep for future developments,” said Mr Tham.

“We are fortunate that we are given a 40 year development time frame and not required to quickly develop one-north within 5 years. With this development time frame we can prepare for the future better,” he added.

In keeping up with its focus on cutting edge technology, JTC has also opened up one-north for the test-bedding of autonomous vehicles this year, with deployment targeted for 2020.

Source : Channel NewsAsia – 28 Dec 2016

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Industrial developer JTC has launched a cluster site to provide more work and recreational facilities for start-ups.

With the opening of JTC Launchpad @ one-north, the government plans to drive more private sector involvement in the start-up community.

Block 71 at Ayer Rajah Crescent currently houses around 250 startups.

It will soon be part of a cluster with two other blocks — Block 73 and Block 79. Together, the community size will be doubled to some 500 start-ups.

Nine companies have already expressed interest in the new space.

They include start-up incubator NUS Enterprise which has been in Block 71 for more than two years.

NUS Enterprise has provided support to almost 200 young entrepreneurs, and it said the new space will provide opportunities for greater collaboration and networking.

Dr Lily Chan, CEO of NUS Enterprise, said: “Some of our small companies can now go on to occupy — not just NUS companies, any company in the area — …larger spaces.

“More importantly, in a community like that it’s not just about young start-ups. It’s about slightly more mature companies because they provide experience and interactions; they are the partners of the young companies, maybe even the acquirers of the young companies.”

The expanded cluster will accommodate start-ups and incubators in industries such as infocomm, media and biomedical.

Speaking at the launch, Minister of State for Trade and Industry Teo Ser Luck said the government aims to drive more private sector involvement.

Mr Teo said: “What we’re trying to do is make sure that the private sector does most of the work within this Launchpad. The vibrancy has to be created by them. It will become a bottom-up approach, while the government takes a facilitating role in building this whole stage and platform for them to make things happen.

“In Silicon Valley, for example, there is no government intervention as well, there’s just vibrancy. In Singapore, we realise we have our own uniqueness; we’ve got constraints as well. Some form of government intervention is necessary, but there comes a point where we think we can take a more supporting role.”

The new cluster is built in collaboration with SPRING Singapore and other government agencies, including A*STAR, the Infocomm Development Authority, Media Development Authority and National Research Foundation, and is scheduled to be ready by the end of this year.

Source : Channel NewsAsia – 12 Mar 2014

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Projected to cost approximately S$370 million, Fusionopolis Phase 5 comprises a 17-storey building with approximately 59,300 square metres of business space and 5,500 square metres of retail space.

The development also includes a separate five-storey office block. With 2,690 square metres of flexible spaces, the block will feature Ascendas’ work-office-home-office business space – the “WOHO” concept.

Ascendas said this concept aims to appeal to individuals and businesses in the info-communication technology and media industries, as well as complementing the business growth needs of these companies.

The development is also targeted to meet the criteria of the Building and Construction Authority Green Mark Platinum certification.

The project is expected to be completed in the fourth quarter of 2014.

Source : Channel NewsAsia – 5 Nov 2012

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The four-star Park Avenue Rochester hotel is targeted for business and leisure travellers in the Buona Vista district.

It also offers residential facilities as well as amenities for research, recreational and educational activities.

The 271-room hotel started operations last month.

Meanwhile, the Rochester Mall will be fully opened in end January to cater to residents of the Dover, Holland and Bukit Timah areas.

The 10,000 square feet mall will feature a mix of lifestyle-oriented tenants.

According to a news release, both developments will be managed by the United Engineers Group.

The hotel and mall will expand United Engineers’ assets under management, which have so far included several residences under the Park Avenue brand.

United Engineers is looking to boost its portfolio further with the expected completion of the UE BizHub EAST at Changi Business Park and expansion plans for the Park Avenue hospitality chain in Southeast Asia.

It also plans to participate in tenders to build more malls in Singapore.

Source : Channel NewsAsia – 5 Jan 2012

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The 1.8 hectare, 99-year leasehold site is located at the junction of North Buona Vista Road and Commonwealth Avenue West.

It has a potential yield of about 112,000 square metres, with 2,000 square metres set aside for retail use.

A developer has since committed to bid at least S$320 million for the land parcel in the public tender.

The tender will close at 12 noon on July 27.

JTC says the site will be developed into a high-rise commercial building.

It will provide office space outside the central business district to support research institutes at One-North.

Upcoming developments of the One-North hub include an integrated hotel, residential and retail development and a Civic, Cultural and Retail Complex.

Source : Channel NewsAsia – 2 Jun 2010

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Typical of most projects that are close to completion, transactions here have spiked up.The 99-year leasehold project was launched in March 2007, when the market was still red hot. As the first residential project to be launched within One-North, a master planned development with work- live-play components located near Buona Vista, it naturally set a new price benchmark for the area. Two years ago, units were sold at an average price of $900 psf, with a number of units crossing the $1,000 psf mark, hitting a high of $1,238 psf. As at Dec 31, 2008, UOL reported that 99.3% of the units had been snapped up.

According to caveats lodged with URA Realis, three units ranging from 980 to 1,109 sq ft changed hands in the subsale market at $800,000 to $950,000. One owner of a 14th floor unit sold his 1,001 sq ft apartment for $860,256 or $859 psf in March. He had purchased the unit from the developer in December last year for $780,780 ($780 psf), hence making a handsome 10% gain in just a few months.

A seventh floor, 980 sq ft unit changed hands in the subsale market for $800,000 or $817 psf, which was 17.4% below the $969,052 ($989 psf) paid by the seller in April 2007. The third deal, a 1,001 sq ft ninth floor unit, changed hands in a subsale at $950,000 or $857 psf, slightly above the original purchase price of the seller of $915,098 or $825 psf.

Meanwhile, three neighbouring apartments on the fourth floor of the second block were put up for auction sale by Knight Frank on behalf of an owner in late February. Based on caveats lodged for the units, the owner had purchased all three studio apartments, from 570 to 614 sq ft, at $647,235 to $675,830. The purchase prices translate to an average of $1,055 to $1,159 psf. The opening prices for the three units at the auction were from $580,000 to $620,000. According to market sources, buyers were looking at prices closer to the $500,000 to $550,000 price range.

Rather than selling, the owner can lease the apartments when the project is completed, says Mary Sai, director of auction at Knight Frank. The market rent for studio apartments in the area is hovering around $2,500 a month, and based on the purchase price, rental yield works out to around 4.4% to 4.5%, she says. Given the location, which is within walking distance of two MRT stations — One-North and Buona Vista — potential tenants are those working in One-North, Science Parks, National University Hospital and the National University of Singapore, she says.

Source : The Edge – 13 Apr 2009

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Details of the park’s masterplan will be released on Wednesday by Information, Communications and the Arts Minister Lee Boon Yang.

The architect behind Media Park @ One North is Bernard Tschumi, a Swiss-French now based in New York who has designed buildings all over the world for the last 25 years. The park is his first project in Singapore.

The 64-year-old first visited the republic in March this year and was impressed by its metropolitan nature, which inspired his design of the Media Park.

“How could one recreate that city feel in a neighbourhood which had a lot of offices and production studios, which is not a very lively place per se. So we invented a street system, a grid, a building, all organised around a loop, a circle, a ring,” he said.

Getting cities to intensify people-to-people interaction is what Mr Tschumi hopes the Media Park can inspire in city planners.

“When cities became settled a thousand years ago, they were not about isolation. They were not about alienation. They were about social exchange. And sometimes, architects or planners or politicians forget that… Here, we are trying to create a new vitality,” he added.

Mr Tschumi’s architectural concept aims to facilitate human communication at the park, located within the highly wired One North facility.

Source : Channel NewsAsia – 7 Dec 2008

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The integrated hub is part of a 200-hectare development at Buona Vista known as Vista Xchange.

The area aims to integrate living, working, relaxation and learning facilities when fully operational.

Under the deal, Yongnam will construct the integrated hub and supply its necessary structural steelworks.

Work will start at the end of this year and is expected to be completed by January 2011.

Yongnam said the contract is not expected to have any material impact on its earnings for current financial year ending December.

Source : Channel NewsAsia – 2 Dec 2008

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