Though they’re officially so-called competitors, Hong Kong and Singapore are startlingly similar on a number of factors — chief among them their property markets. While Hong Kong remains the king of volatility, both have been marked by skyrocketing prices, cooling measures and tightened lending in recent years. Singapore’s residential sector is still slightly stronger, with marginally stronger rental yields, but it has no shortage of super-luxury trophy properties for sale. Joining that elite list is Wing Tai Asia’s Le Nouvel Ardmore.
Tough Environment
The Lion City had a rocky finish to 2015, with the jury still out (admittedly for everyone) on what 2016 would hold. Singapore’s banks have already factored the then-impending, now-confirmed interest rate hike by the Fed into their policies, and so disruption to the market is expected to be minimal. Nonetheless, a slowing Mainland Chinese economy affects Singapore as well, and so, “The government’s unyielding focus on keeping housing affordable and lowering household indebtedness levels, [has] made it clear that cooling measures will remain in place,” said Savills third quarter 2015 report. Savills went on to point out market sentiment was weak, and regardless, “Developers are still unlikely to lower prices and those who need to made adjustments to clear inventory may only do so marginally. The reason is two fold; high production costs; and holding power remains strong. Prices in the primary sales market are therefore expected to remain flat over the next two quarters.” This after two quarters of falling prices and projections for the high-end Orchard precinct to continue softening.
Into this complex environment comes Le Nouvel Ardmore. Launched in Hong Kong to investors at the end of 2015, the freehold Le Nouvel Ardmore was designed by Pritzker Architecture Prize-winner Jean Nouvel (with interiors by Atelier Ikebuchi). The innovative, light-capturing exterior grid design is complemented by landscaping by Sitetectonix (La Foret, Beijing, Singapore’s Aalto). In a statement, Nouvel said, “I’ve updated what I understood of homes in Singapore and their essence. They’re spacious homes with facilities, with everything one needs to enjoy [themselves] in this climate, such as pools and gardens. But more than that, we’ve taken it a step further and created architecture that one can enjoy. Architecture that generates joy, that celebrates life, so to speak. That’s why I’ve made a proposal for the art of living.”
Singaporean Luxe
Le Nouvel Ardmore aims to set a new bar for luxury living. With only two apartments per floor, the 33-storey tower at 1A Ardmore Park in Nassim overlooks the Ardmore and Claymore districts and sits a stone’s throw from Orchard Road. The tower is built over a reflective pool and was designed to look like a floating garden from a distance.
Serviced by private lifts, the 42 four-bedroom suites and duplex villas range in size up to 5,360 square feet and feature family rooms, wine cellars and en suite bathrooms as just a start. The building’s only penthouse clocks in at nearly 14,000 square feet and boasts, “elegant spacious interiors, with panoramic views of the city skyline” in addition to five en-suite bedrooms, a balcony, outdoor Jacuzzi, a music studio and private pool. The property has already sold for a headline-grabbing SG$51 million (HK$285 million).
For the remaining suites and villas, construction materials include luxurious finishes (marble, American oak), imported fixtures and state-of-the-art appliances by Miele, SieMatic and Duravit. Among the tower’s facilities and amenities are a ground level clubhouse with terrace and kitchen, personalised concierge services (by Lanson), an Olympic sized swimming pool, tennis court, private spa suites, full gym, lounge and a 27th level dining mezzanine space for private functions.
For more information about Le Nouvel Ardmore, refer to the website, www.lenouvelardmore.sg, or to Wing Tai Asia online at www.wingtaiasia.com.sg.
