Small sites, limited resources and big investment are pushing Singapore development the only way it can go—up. The land-limited country of just 72,600ha and a population of almost 6 million has one of the highest GDP per capita in the world. Global interest in Singapore remains high, and the hottest market in Singapore right now is hotels. But developable land is a rarity, leading one developer to create not one but four properties in one. UOL Group first ran feasibility studies into building a 23-storey hotel with 350 rooms for a 3650sq m site at 10 Claymore Road, in the city’s shopping belt near Orchard Road, in 2014. ▲ The Pan Pacific Orchard features four distinct terraces with a mix of rooms and social spaces. A development application was filed in 2016 and work got under way on the WOHA architects-designed project in 2018 with builder Shimizu Corporation. The property opened in 2023, a year later than expected thanks to the pandemic, creating a new architectural landmark for the city. The Pan Pacific Orchard was named the 2024 Best Tall Building Worldwide in the Council on Tall Buildings and Urban Habitat awards in recognition of the project’s groundbreaking approach to high-density urbanism. The key feature of the design are its four podiums that create four distinct hospitality offerings around the forest, beach, garden and cloud terraces. And the four-in-one play is paying off: revenue from the group ’ s hotel operations rose $4.24 million (S$36.0 million), or 11 per cent, to $445.5 million (S$377.6 million) across the first half of 2023 with the opening of the Pan Pacific Orchard credited for much of that. ▲ The 140.5m-high Pan Pacific Orchard has a 19,600 sq m GFA. WOHA director Hong Wei Phua told The Urban Developer that planning goals in Singapore were focused on sustainably and tackling urban issues, including increased denisty and diminishing public space. “Pan Pacific Orchard, as a private development, leverages the planning guidelines and incentives that waive the gross floor area for the sky terraces as long as they are lushly landscaped, used for common activities and fulfil certain technical parameters,” Wei Phua says.  “The result is that the development yields more usable areas, the occupants enjoy more common spaces and nature, and the city achieves more skyrise greenery.” Wei Phua says the hotel is a green landmark and a taste of what’s to come in the city’s future. “Surrounded by sea and limited by land area, the only way for Singapore to densify is to intensify upwards,” Wei Phua says. “The design of Pan Pacific Orchard pushes the boundaries on tall building design, bringing nature and amenities into multiple levels to deliver a sustainable and liveable environment.  “This is especially crucial as cities are increasingly under stress from densification and the effects of climate change.” ▲ The Pan Pacific Orchard achieved a Green Mark Platinum rating, Singapore’s highest environmental certification. UOL Group chief executive Liam Wee Sin told investors this year that after this year’s results they will grow the firm’s hospitality segment. “Singapore’s hospitality sector is likely to continue its growth, albeit at a slower pace, with steady recovery in tourist arrivals and limited supply in the next few years,” Wee Sin says. “As for overseas, our hospitality segment is expanding with the recent openings of Pan Pacific Jakarta and Parkroyal Serviced Suites Jakarta.” Hotel investment across the Asia Pacific hit a record high of $19.60 billion for 2024 with two of the top 15 transactions in Singapore, according to JLL.  The report shows the high-occupancy rates have been buoyed by mega events including Taylor Swift concerts and the Luna New Year period. At the same time hotel room inventory is almost stagnant with a 2 per cent increase in five years.  ▲ Hong Wei Phua: Achieving a green and sustainable built environment while tackling urban issues only works with long-term holistic vision and commitment.  Capri by Fraser Changi Singapore sold for $204.80 million or $654,316 per key to Atelier Capital Partners Singapore, a high-profile joint venture, and Fortez Capital in September. Early in the year CapitaLand picked up Hotel G Singapore for $286.72 million and has plans to convert it to co-living for its Ascott lodging division. Meanwhile, UOL Group is also investing in Australian assets, including a half-stake 388 George Street, Sydney which it bought from Brookfield Property in October.  You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. Click here to learn more.
