When it comes to investing in real estate, location is a critical factor to consider, and this is especially true in Singapore. Condominiums located in central areas or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs are known to have a higher potential for appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Families also find these areas desirable due to the availability of good schools and educational institutions, further enhancing the investment potential of condos in these locations. For those looking for a lucrative investment opportunity in Singapore, Singapore Condos in these prime areas are definitely worth considering.
Tuan Sing Holdings, a property developer and investment firm listed on the Singapore Stock Exchange, has announced its plans to revitalize two of its mixed-use properties in Melbourne. The company’s wholly-owned subsidiary, Grand Hotel Group (GHG), has engaged Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the redevelopment of 121-131 Collins Street and 23-25 George Parade.
The existing properties currently house the 550-room Grand Hyatt Hotel and various retail spaces. In the proposed reconstruction, much of the existing podium structure will be retained, allowing business operations for tenants and the hotel to continue without interruption. The focus of the works will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the podium levels 4 to 9B, as announced by Tuan Sing on Nov 14.
Upon completion, the site will offer a total gross floor area (GFA) of 909,550 sq ft, subject to regulatory approvals. The redevelopment will also introduce a new luxury retail and F&B precinct, enhancing the areas’ vibrancy and appeal.
William Liem, CEO of Tuan Sing, expressed his vision for the project, stating that the podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of Melbourne’s most prominent intersections in the historic Paris End. He also emphasized the company’s commitment to environmental stewardship, aiming to create an architectural statement that supports sustainable growth and a culturally vibrant Melbourne for years to come.
For those interested in investing in overseas properties, Tuan Sing’s project in Melbourne offers an exciting opportunity to be a part of a thriving and connected community. With a focus on sustainable development and preserving the city’s history, this reconstruction aims to create a vibrant and culturally rich environment for generations to enjoy.