French expat captures a Singapore that’s more than ‘country of millionaires’

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Sevens Group launches bungalow in Guillemard for $6.1 mil; snaps up 11 plots last year

SINGAPORE (EDGEPROP) – Property developer Sevens Group has been snapping up land websites aggressively — buying 11 plots valued at about $70 million over a span of simply 56 days final 12 months, says Eric Cheng, founder and CEO of the corporate. “It’s given us an excellent run. So now we have a good bit of land financial institution for the following two years.”The eating space at 480 Guillemard Highway has a fully-equipped en suite kitchen (Credit score: Samuel Isaac Chua/ The Edge Singapore)One in every of its properties presently available on the market is a indifferent home at 480 Guillemard Highway. What’s uncommon in regards to the indifferent home is that it sits on a freehold land space of simply 2,756 sq ft — most standard indifferent homes occupy a land space of no less than 400 sq m (4,306 sq ft) every.The developer was ingenious in constructing a 3 storey dwelling with a ground space of 5,595 sq ft, and even has a 13m lap pool in-built. The home has 5 en suite bedrooms, with toilet fittings and sanitaryware from German model, Bravat, owned by German sanitaryware supplier Roman Dietsche.The home comes with a 13m lap pool (Credit score: Samuel Isaac Chua/ The Edge Singapore)The lounge has a hid powder room, and sliding home windows that may be opened fully to take pleasure in a view of Paya Lebar Quarter and the Paya Lebar Central space. The eating space has a fully-equipped en suite kitchen, with the stove-top positioned subsequent to a window to make sure air flow, Cheng factors out.Some $300,000 was spent on furnishing the home to permit future owners to visualise the house. The home comes with a carry inside and an open staircase to permit communication amongst relations even when they’re on totally different ranges, Cheng explains.The indifferent home at Guillemard Highway is priced at $6.1 million ($2,213 psf), which Cheng believes is a horny worth for younger households who aspire to personal such a landed property.The home at 480 Guillemard Highway has a carry inside and an open staircase (Credit score: Samuel Isaac Chua/ The Edge Singapore)The home on Guillemard Highway is positioned inside a seven-minute stroll of Paya Lebar Quarter and the Paya Lebar MRT Interchange Station, in addition to malls equivalent to PLQ Mall, Kinex Mall, SingPost Centre and Paya Lebar Sq.. “It’s like a mini satellite tv for pc city, with all of the eating places and facilities inside a brief strolling distance,” says Cheng.Sixth Assortment – 100% offered previous to launch Artist’s impression of the indifferent home at Sixth Assortment, which was offered for $9.65 million ($1,815 psf) (Credit score: Sevens Group)Over the weekend of Feb 6 and seven, previous to the launch, all three homes at Sevens Group’s Sixth Assortment had been snapped up. The three homes — a pair of semi-detached homes and a indifferent home — have but to be constructed.Sevens Group bought the 12,056 sq ft, freehold website at Sixth Avenue for $9.5 million ($788 psf) final July. The prevailing previous indifferent home sitting on the 12,056 sq ft, freehold website at 555 Sixth Avenue has but to be torn down. The one factor that’s constructed on the positioning is the gross sales gallery.Nevertheless, the positioning has been subdivided into three smaller plots. One in every of them is a freehold website of 5,317 sq ft to be occupied by a five-bedroom indifferent home with a built-up space of seven,175 sq ft. The property was offered for $9.65 million ($1,815 psf).Artist’s impression of the semi-detached homes at Sixth Assortment, which had been offered for $6.29 million ($2,920 psf) and $6.19 million ($2,874 psf) (Credit score: Sevens Group)The opposite two plots are to be occupied by a pair of semi-detached homes, which sit on a land space of two,154 sq ft every. One of many four-bedroom homes with a built-up space of 4,975 sq ft was offered for $6.29 million ($2,920 psf), whereas the opposite four-bedroom semidetached home with a built-up space of about 4,836 sq ft went for $6.19 million ($2,874 psf), in response to Wayne Chua, gross sales and advertising supervisor of Sevens Group. The patrons had been prepared to purchase off-plan “due to our monitor report”, he says.The three homes at Sixth Assortment are scheduled for completion by 4Q2022, in response to Chua.Cheng has 45 employees who span totally different enterprise areas and he has constructed “a powerful ecosystem”, he says. “We’ve got our personal constructing arm, inside design crew and a improvement crew.” As an illustration, it took simply 14 months to finish the indifferent home at Guillemard Highway.Property agent-turned-serial entrepreneurThe grasp toilet comes with his-and-hers toilet sinks (Credit score: Samuel Isaac Chua/ The Edge Singapore)Cheng started his profession as a property agent greater than twenty years in the past and even launched his personal property company in 2009, which was one of many greatest gamers with 1,800 brokers at one level earlier than he offered it. He has since morphed right into a property developer with Sevens Group, a reputation impressed by his favorite quantity “seven” — evident from his automotive quantity plates and his cell quantity.A serial entrepreneur, apart from Sevens Group, Cheng can also be the co-founder and CEO of enterprise capital agency, CapitalX. He’s an investor in ECXX International, a Singapore-based digital securities alternate, which has built-in with MyInfo, a service developed by the Authorities Know-how Company that permits SingPass customers to handle their private knowledge whereas transacting on-line with collaborating private and non-private organisations. On Feb 1, ECXX International introduced a collaboration with regional brokerage UOB Kay Hian to usher in deep tech start-ups and supply them the chance to lift capital by itemizing through securitised token providing.One of many 5 bedrooms at 480 Guillemard Highway (Credit score: Samuel Isaac Chua/ The Edge Singapore)Cheng’s enterprise acumen has meant that he’s capable of seize alternatives and make swift choices, particularly on the subject of property. He attributes this largely to his capacity to “talk” with property. “Once I talk with the property, I’ll ask myself, ‘Who will purchase this property? How will I promote the end-product, and what worth ought to I promote it at?’” Cheng elaborates.As Cheng needs to set a benchmark when it comes to costs and product choices for his tasks, he’s very hands-on when it comes to design, deciding on the variety of rooms, the house planning, and the ending in addition to the selection of supplies used. He has developed 100 properties in the midst of his profession and never simply in Singapore, but additionally in Perth, Australia.Navigating Covid-19 challengesAll the bedrooms in the home at 480 Guillemard Highway are en suite (Credit score: Samuel Isaac Chua/ The Edge Singapore)Like all builders, Sevens Group has additionally handled some pace bumps alongside the best way because of the onslaught of the pandemic. Development prices have additionally gone up, “however we’re controlling them”, says Cheng. “At the moment, if you wish to construct a home, you may’t get many contractors to do the job. Why? As a result of they’re overloaded with jobs.”Happily, Sevens Group is ready to safe contractors to do their jobs as a result of “now we have a pipeline of homes to be constructed, which helps our development companions”, Cheng says.Sevens Group has already constructed over 47 tasks so far, together with in Australia, the place it has established a presence in Perth. The group now has developments with near $350 million in gross improvement worth.Nevertheless, he has no plans to record the corporate for now. “We really feel that as a non-public firm, we can have extra management over our enterprise,” says Cheng. It’s because the group needs to deal with constructing high quality properties and sustaining a wholesome pipeline of tasks, he provides.In the end, Cheng sees property improvement as “not only a enterprise, however an artwork”. He provides: “You’ll be able to’t take short-cuts.”Take a look at the most recent listings close to Guillemard Highway, Sixth Avenue, Paya Lebar MRT Interchange StationSee Additionally: Singapore Property for Sale & Hire, Newest Property Information, Superior Analytics Instruments New Launch Rental & Landed Property in Singapore (COMPLETE record & updates) Centra Group launches Vanda Crescent bungalow for $13 mil Newly-built, thoughtfully-designed bungalow at Linden Drive for $23.Eight mil Mortgagee sale of duplex penthouse at The Orange Grove for $8.43 mil En Bloc Calculator, Discover Out If Your Rental Will Be The Subsequent en-bloc HDB Resale Flats Up For Sale, Inexpensive Items Obtainable