Ryse Residences

Convenience at Pasir Ris Central
seeking indication of interest

project details ryse residences

Ryse Residences allgreen logo
Ryse Residences kerry logo

Project Name
Ryse Residences

Development Address
Paris Ris Central, Singapore

Development Type
Mixed development

Number  of Units
TBA

Tenure of Land
Leasehold 99yrs

Purchasers Eligibility
All Nationalities

T.O.P Date
est TBA

Site Area
approx TBA

Project Developer
Allgreen & Kerry Properties

Architect
TBA

Unit Mix
TBA
(Size quoted are subject to final survey)

Ryse Residences in the news

allgreen logo

The Kuok Group real estate arm in Singapore is Allgreen Properties Limited. Incorporated in 1986, Allgreen was listed on the Singapore Stock Exchange in May 1999 and was then majority owned by the Kuok group. It was delisted in August 2011 from the Singapore Stock Exchange following its compulsory acquisition by Brookvale Investments Pte Ltd (which is itself part of the Kuok group of companies). Today, Allgreen is one of the largest property groups in Singapore reputed for its quality products and track record of strong take-up rate for its projects. As at 31 December 2014, the Allgreen group has 35 subsidiaries and 13 associated companies. Although Allgreen began operations in 1986, the history and track record of Allgreen’s property-related businesses can be traced back to the times when it started as a division of Kuok (Singapore) Limited in early 1980.
 
In Singapore, Allgreen has a diversified portfolio of properties comprising residential, retail and office space, serviced apartments and a hotel.
 
Allgreen’s portfolio of development properties consists of a mix of condominiums, terrace and semi-detached units. These properties are on freehold and 99-year leasehold tenures. Allgreen purchases land from private parties and participates in land tenders called by the Government to selectively and continuously maintain a landbank.
 
Allgreen has also entered into various joint ventures to participate in the development of mixed projects in Shanghai, Tianjin, Chengdu, Qinhuangdao, Shenyang and Tangshan in the People’s Republic of China. These PRC projects comprise a mix of residential developments, commercial, offices, serviced apartments and hotels. In line with its strategy to expand regionally, it has also acquired a prime site in District 2, Ho Chi Minh City, Vietnam to develop a condominium project and another site in Vung Tau City, Vietnam for a mixed development. As one of the largest property groups in Singapore, Allgreen Properties has a balanced quality portfolio of residential and commercial properties which caters to a wide spectrum of homebuyers’ needs and budgets.
 
Allgreen is engaged in project management through its wholly-owned subsidiary, Leo Property Management Pte Ltd (“LPM”). LPM provides support services primarily for properties developed by the group. In project management, LPM’s role includes concept planning, advising on design development, calling and awarding of tenders for construction work, supervising and monitoring construction, budgets and progress payments. LPM’s capabilities include development of residential, retail, hotel and serviced apartments projects.
 
Allgreen’s investment property portfolio comprises Great World City, Tanglin Mall and Tanglin Place. The wholly-owned flagship Great World City is one of Singapore’s largest integrated property development at approximately 1.06 million square feet lettable area and comprises two 18-storey office towers connected by a 4-storey podium, a 3-storey retail mall with 3 basements and 304 serviced apartments, Great World Serviced Apartments, one of Singapore’s largest serviced apartment complex with comprehensive facilities and amenities. The Great World retail mall enjoys high occupancy and strong rentals attributable to strong tenant relations, continued high maintenance of the mall and customer-friendly initiatives. The serviced apartments and office space similarly achieve high occupancy levels and have shown strong profit growth due to their key location and convenient facilities.
 
Tanglin Mall and Tanglin Place are owned through a 55.4% stake in Cuscaden Properties Pte Ltd. Cuscaden Properties Pte Ltd also owns Hotel Jen Tanglin Singapore (a 565-room hotel near Orchard Road). Tanglin Mall is a 3-storey shopping complex with 4 basements of approximately 146,000 square feet lettable area located in the prime District 10, whereas Tanglin Place is a 4-storey commercial complex of 34,000 square feet lettable area, all of which are located near bustling Orchard Road. The property investment and hotel portfolio provides a stable source of recurring income and strengthen Allgreen’s earning base. Shangri-La Hotel Ltd, the wholly-owned subsidiary of Shangri-La Asia Ltd owns 44.6% of Cuscaden Properties Pte Ltd.

 

kerry logo
Kerry Properties Limited (“Kerry Properties”), incorporated in Bermuda with limited liability, was listed on The Stock Exchange of Hong Kong Limited (Stock code 683) in 1996. Subsidiaries of Kerry Properties (which together with Kerry Properties referred to as the “Group”) have been involved in property investment and development activities in Hong Kong since 1978. As a world-class property company with significant investments in Mainland China and Hong Kong, Kerry Properties is also selected as a constituent stock in the Hang Seng Composite Index, Hang Seng Composite LargeCap Index, Hang Seng Composite Industry Index (Properties & Construction) , Hang Seng Corporate Sustainability Index, Hang Seng (Mainland and HK) Corporate Sustainability Index and Hang Seng Corporate Sustainability Benchmark Index.

Pasir Ris white site clinched by Allgreen Properties, Kerry Properties tie-up

MAR 24, 2019, 17:16 – The Straits Times

SINGAPORE – The Housing & Development Board (HDB) has awarded a white site next to Pasir Ris MRT Station to Phoenix Residential Pte Ltd and Phoenix Commercial Pte Ltd. Both companies are owned by a joint venture between Allgreen Properties and Kerry Properties – the two companies are part of the Kuok Group of Companies controlled by Malaysian tycoon Robert Kuok.

Their winning bid is nearly $700 million, which works out to $684.48 per square foot per plot ratio (psf ppr) based on the total gross floor area of 1.02 million sq ft.

The dual envelope concept and price revenue tender for the 99-year leasehold plot closed on Dec 14, 2018, attracting three bids.

The only other shortlisted tenderer, Laguna Garden and Far East Commercial Trustee – both units of Far East Organization – bid nearly $677.78 million, translating to $662.75 psf ppr.

There was a third bidder that took part in the tender but was not shortlisted – a tie-up between Singapore Press Holdings and Kajima Development.

HDB said in its release on Friday evening (March 22) that the proposed development, comprising a commercial and residential development integrated with a bus interchange, a polyclinic and a town plaza, will offer seamless connection to public transport services and amenities for residents. The completed development will also serve as a community focal point.

In line with this vision, HDB adopted a concept and price revenue tender system to shortlist quality development concepts with seamless integration of amenities and well-designed public spaces.

At the first stage of the tender process, concept proposals which substantially satisfied the evaluation criteria were shortlisted by the Concept Evaluation Committee (CEC) to proceed to the second stage of tender evaluation.

At the second stage, the price envelopes submitted only by the tenderers of the shortlisted concept proposals were opened for consideration. The site is then awarded to the tenderer with the highest bid among the tenderers with shortlisted concept proposals.

The tender for the site was launched for sale on Aug 27, 2018 and closed on Dec 14.

The three tenderers submitted a concept proposal each. All tenderers were given the opportunity to present their proposals to the CEC.

After evaluation, the CEC concluded that two of the three concept proposals – the ones submitted by Far East Organization, and the tie-up between Allgreen Properties and Kerry Properties – had substantially satisfied the evaluation criteria and could proceed to the second stage of tender evaluation.

The price envelopes of the two shortlisted tenderers were opened and the site awarded to the Allgreen-Kerry partnership which had submitted the higher bid of the two shortlisted tenderers.

source: 
https://www.straitstimes.com/business/property/pasir-ris-white-site-clinched-by-allgreen-properties-kerry-properties-tie-up

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