A ground-floor strata unit spanning Level 1 and 2 with prominent street frontage, and a strata office floor for sale
Singapore, 10 March 2025 – ETC, as the exclusive marketing agent, is offering for sale, prime commercial space at GB Building located at 143 Cecil Street. The portfolio comprises:
i. A prominent ground-floor strata unit that spans Level 1 and 2; and
ii. A strata office floor
within the 26-storey office building.
The sale will be conducted by way of an expression of interest exercise; interested parties are invited to submit their offers by 15 April 2025 at 3pm.
The ground-floor commercial space has a strata area of 1,214 sq m (approximately 13,067 sq ft), featuring an impressive 45-m full-glass frontage along the bustling Cecil Street. The strata office floor occupies an area of 1,170 sq m (approximately 12,594 sq ft).
The guide price for the ground-floor unit is S$45 million, which works out to approximately S$3,443 per sq ft on the strata area. Meanwhile, the guide price for the strata office floor is S$25 million, which works out to S$1,985 per sq ft on strata area.
Interested parties have the flexibility to purchase the properties individually or collectively. As commercial properties, there is no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable and no restriction on foreign ownership.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at ETC, says, “Ground-floor commercial units in the CBD are highly sought-after due to their prominent street frontage and high footfall. The last ground-floor unit transacted nearby was at Prudential Tower for S$4,636 per sq ft in August 2024, making the ground-floor unit at GB Building a relative attractively priced opportunity.”
“The unit has also been approved for ‘Restaurant & Bar with Live Entertainment’ use, which enhances its appeal, aligning with the increasing interest in dynamic and experiential F&B concepts. This presents an exciting opportunity for investors and end-users looking to tap into the growing nightlife and experiential dining scene,” adds Ms Swee.
Meanwhile, office floors within GB Building have seen strong trading activities, with sales recorded in 2024 at S$10.88 million (S$1,978 per sq ft) and S$10.7 million (S$1,980 per sq ft).
Ms Swee continues, “Both units for sale are currently tenanted, offering the incoming purchaser immediate rental cashflow. The units are ideal for end-users who are looking to rightsize and/or consolidate operations into one central location for greater efficiency, as well as investors seeking to capitalise on the limited supply of strata commercial units in the CBD.”
GB Building is a 26-storey office development occupying a prime corner plot at the junction of Cecil Street and McCallum Street. Strategically positioned in the heart of the CBD, it offers excellent connectivity with three MRT stations (Tanjong Pagar, Telok Ayer, Shenton Way) running on four train lines within a 300-m radius. The area is a bustling financial and business hub, surrounded by corporate offices, banks, dining options, and amenities.
ETC and OrangeTee Announce Strategic Merger
- Unites complementary strengths of two iconic homegrown real estate brands, building on the success of their 2017 joint venture
- Establishes the Group as the region’s most comprehensive real estate company by extending its line of services, broadening its expertise into new markets and deepening its regional presence to achieve sustainable growth
- Offers an end-to-end suite of real estate brokerage and consultancy services to address the diverse needs of different client groups – from individual property seekers and first-time buyers to high-net-worth investors, developers and leading corporations – with a growth-oriented approach to long-term value creation
Singapore, 24 February 2025 – ETC (宜迪产业咨询公司), Singapore’s trusted commercial real estate consultancy firm, and OrangeTee Group (橙易集团) (OrangeTee), Singapore’s leading proptech agency, jointly announced today a strategic merger that unites their complementary strengths to become the region’s most comprehensive real estate services firm, offering unparalleled expertise and reach to meet both B2B and B2C needs.
The unification brings together two of Singapore’s iconic homegrown real estate brands under one umbrella to create a transformative, full-service avenue addressing the evolving needs of the real estate market. This integration marks a significant milestone, bolstering the Group’s capabilities with a combined bench strength of more than 520 employees and 2,800[1] real estate advisors.
Merger for Growth
The merger signifies a long-term commitment to enhancing service offerings and driving sustainable growth, leveraging ETC’s expertise in corporate advisory and consultancy, and OrangeTee’s innovative proptech capabilities and extensive agency network.
Building on the success of their 2017 joint venture — OrangeTee & Tie which was the union of ETC’s agency business with OrangeTee, the merger now aligns the overall business operations and service offerings to unlock powerful synergies. The Group is now primed to delivering an unmatched full suite of services in the real estate value chain for organic growth in Singapore, while expanding regionally.
The Group will be helmed by Mr. Desmond Sim, the current CEO of ETC, as Group CEO, alongside Mr. Justin Quek, the current CEO of OrangeTee & Tie, who will take on the role of Deputy Group CEO. They will be supported by an experienced leadership team drawn from both companies, and together, drive the Group’s mission to provide comprehensive real estate solutions, while fostering growth for employees, real estate advisors, clients, and stakeholders.
Mr. Desmond Sim (沈振伦), Group CEO, says, “The full merger is a natural progression, reinforcing our enduring partnership with OrangeTee and positioning us even more competitively to navigate evolving market demands, while capitalising on the region’s high-growth opportunities. By combining our expertise, resources and networks, we can drive meaningful growth, create value for all stakeholders and achieve the scale needed to thrive in today’s dynamic real estate landscape. Together, this ‘Merger for Growth’ strategy reinforces our commitment to building a robust ecosystem – one that empowers our people and enhances client experiences in Singapore and across the region.”
Mr. Justin Quek (郭建廷), Deputy Group CEO, says, “This merger fortifies our shared heritage and deepens our connection to the communities we serve. With a strengthened brokerage and consultancy team supported by advanced proptech, we are set to scale our capabilities to deliver innovative, seamless solutions across all real estate sectors. This unified strategy impeccably aligns with OrangeTee’s renewed vision of simplifying real estate, making it more accessible, seamlessly helping real estate advisors and clients find their homes, business solutions, or commercial spaces in Singapore and beyond.”
The leadership team is working closely to ensure a smooth integration process, with a focus on preserving the values and strengths that have defined each company. The integration roadmap includes aligning operational competencies, enhancing proptech capabilities, and ensuring clear and transparent communications with all stakeholders.
At present, ETC and OrangeTee will continue operating under their current branding. Following OrangeTee’s successful brand refresh in January 2024, ETC has also launched its refreshed brand identity in January 2025. Both companies’ brand refresh efforts are part of the broader strategy to strengthen the distinct strengths of each entity, while paving the way for a unified identity under the Group.
[1] Based on CEA agent count as of 24 February 2025
Zoned for “3-storey mixed landed housing”, vacant plot offers buyer the flexibility to develop it into various landed housing configurations
Singapore, 18 February 2025 – ETC (宜迪产业咨询公司) as the sole marketing agent, is pleased to offer for sale a rare freehold land parcel located at Jalan Jamal / Elite Park Avenue, in the highly coveted District 15. The site is available for sale through a tender exercise, which will close on Tuesday, 18 March 2025 at 3pm.
The regular-shaped freehold site spans approximately 3,300.7 sq m (approximately 35,528 sq ft), with dimensions measuring approximately 45 m by 68 m.
Under Master Plan 2019, the site is zoned for “3-storey mixed landed housing”. Currently a vacant site, the land parcel offers the successful buyer the flexibility to develop it into various landed housing configurations – including detached, semi-detached and/or terrace houses.
The asking price for the land parcel is S$38 million, which works out to a land rate of approximately $1,070 per sq ft.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of ETC, says, “Freehold land parcels of this scale in the coveted District 15 are rarely available for sale. What makes this site even more appealing is that it is a vacant plot of regular shape, offering developers a true blank canvas to create a bespoke landed housing project – without the constraints of existing structures or the need for demolition – in one of Singapore’s most desirable residential districts.”
Ms Swee adds, “Given the strong performance and steady capital appreciation of landed properties in District 15, we anticipate strong interest from developers looking to capitalise on this rare opportunity.”
Statistics from the Urban Redevelopment Authority’s Real Estate Information System indicate that property prices of landed homes in District 15 have recorded a compounded annual growth rate (CAGR) of 5.2% from 2015 to 2024. This surpasses the 4.3% CAGR observed for landed homes islandwide, highlighting this district’s resilience and strong growth potential.
Nestled within a sought-after landed housing enclave, the site offers an ideal blend of exclusivity, tranquility, and convenience. Just 180 meters from East Coast Road, future residents will enjoy easy access to a wide range of dining, retail, and lifestyle options, including popular malls such as Parkway Parade, Siglap V, i12 Katong, and East Coast Park.
The site also boasts excellent accessibility to other parts of the island. Siglap MRT Station on the Thomson-East Coast Line is a short walk away, while several public buses ply along East Coast Road. The East-Coast Parkway (ECP) expressway nearby provides seamless connectivity to other expressways including Marina Coastal Expressway (MCE), Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE), and Ayer Rajah Expressway (AYE).
Nearby reputable educational institutions include Tao Nan Primary School, St Stephen’s School, CHIJ Katong (Primary), Tanjong Katong Primary School, Dunman High School, Chung Cheng High School, Victoria Junior College, among others..
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In-principle approval granted for ‘Hotel’ use for this prime freehold commercial redevelopment site
Singapore, 11 February 2025 – ETC (宜迪产业咨询公司) is relaunching the collective sale of United House, a rarely available prime freehold redevelopment site in Orchard Road. As the sole marketing agent, ETC invites all interested parties – local and foreign investors alike – to explore this exceptional opportunity.
The tender for United House will close on 9 April 2025 at 3.00pm.
Located within the bustling Orchard Road Shopping Belt, United House sits on a rectangular freehold plot of approximately 1,192.7 sq m. Under Master Plan 2019, the site is zoned ‘Commercial’ use with a plot ratio of 4.9 and a building height of up to 10 storeys.
The property has also obtained in-principle approval by the Urban Redevelopment Authority for ‘Hotel’ use with the same gross plot ratio of 4.9.
Furthermore, as United House falls outside of the areas where new strata subdivision of commercial space is restricted, the successful buyer has the flexibility to consider strata subdivision for the new development.
Transactions of strata office units in the Central district have gained momentum since 2023, reflected by the strong performance of Solitaire on Cecil which was fully sold after its launch and the sale of two office floors at Tong Building in Orchard Road that achieved a record price of close to S$5,000 per sq ft.
At a reserve price of S$166 million, this works out to a land rate of S$3,025 per sq ft per plot ratio for commercial redevelopment. For hotel redevelopment, the land rate will be S$3,318 per sq ft per plot ratio.
As a commercial property, there is no Additional Buyer’s Stamp Duty payable and restriction on foreign ownership.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of ETC, says, “Freehold Orchard Road assets are scarce and tightly held by owners, given the area’s prestige as Singapore’s most coveted retail and lifestyle destination, making such opportunities highly sought-after for their enduring investment value. United House, therefore, offers a rare and exceptional opportunity for investors to acquire a commercial real estate – what’s more, at an affordable quantum – in the heart of the city’s prime shopping district.”
“With the added option strata subdivision, an astute investor can maximise the gross floor area and explore a strata sale of the new development. Alternatively, they can retain the invaluable freehold asset for capital appreciation, use it as a corporate office, or redevelop it into a hotel, office or commercial space. The multitude of possibilities makes this site a compelling opportunity for buyers seeking a value investment in Orchard Road,” continues Ms Swee.
In 2019, the government announced plans to revitalise the Orchard Road district by transforming the main shopping street into a “lifestyle destination”, where it will offer different themed lifestyle experiences and develop an urban green corridor which will reinvigorate pedestrian spaces. This ongoing initiative aims to enhance pedestrian connectivity among the four sub-precincts encompassing Tanglin, Orchard, Somerset and Dhoby Ghaut.
Ms Swee adds, “With several major redevelopment projects already underway in the prime retail belt, United House stands to benefit from this transformation which is set to draw more visitors and retail spending. Its prime city-centre location in a vibrant enclave with proximity to MRT stations also makes it an attractive prospect hotel development.”
United House boasts unparalleled exclusivity and convenience, with both Dhoby Ghaut MRT Interchange and Somerset MRT station within short walking distance. The subject property is surrounded by different lifestyle options and a diverse array of amenities, offering the best of convenience and entertainment experience.
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EDMUND TIE announces rebrand to ETC
Ushering in a new chapter of growth and transformation that coincides with its 30th anniversary
Singapore, 9 January 2025 – EDMUND TIE & Company (戴玉祥产业咨询公司), the trusted homegrown commercial real estate advisory firm in Singapore, is proud to unveil today its refreshed brand identity as ETC (宜迪产业咨询公司). The rebrand marks a pivotal milestone as the company celebrates its 30th anniversary, embracing a modern vision while staying rooted in its legacy of excellence.
The transition to ETC reflects the company’s evolution and agility in a rapidly changing real estate industry. With the tagline “Local at heart, global in mind”, ETC reinforces its commitment to combining deep local expertise with a forward-looking global perspective. This unique positioning enables the firm to deliver agile and innovative services, creating exceptional value for its clients.
Mr Desmond Sim (沈振伦), CEO of ETC, says, “The new name ETC is not new to many; it has long been a familiar abbreviation for Edmund Tie & Company among clients and staff. More importantly, the decision to officially adopt ETC as our new name was driven by our people. We conducted rounds of focus group discussions and open conversations with different teams – underscoring the priority we place on our people’s insights, voices and ideas. It’s this spirit of collaboration that defines and propels us forward, as we embrace this next phase of growth.”
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ETC’s new logo features a stylised ‘T’ that resembles a blooming tree, symbolising steady growth, resilience and deep-rooted connections within the communities it serves. The modern and streamlined design embodies the company’s core values: Enterprising spirit, Trustworthiness and Collaborative ethos – principles that will be the cornerstone of its operations. |
Commemorating 30 years of success
The rebrand coincides with ETC’s 30th anniversary, a celebration of its enduring legacy and transformative achievements. Since its founding in 1995, the company has been a trusted partner in the commercial real estate industry, delivering tailored real estate solutions with expertise, integrity and service excellence across Southeast Asia.
Reflecting on this milestone, Mr Sim says, “Celebrating 30 years is more than just a tribute to our journey; it’s also a bold declaration of our future ambitions. Our refreshed identity reflects how far we’ve come as one united ETC and highlights our intent to shape the future of real estate, both locally and regionally.”
With services spanning every phase of a real estate asset’s lifecycle – from advisory to investment, to management and divestment – ETC is uniquely positioned to navigate the industry’s complexities and deliver impactful solutions. Its strategic partnerships with like-minded businesses in Singapore and across Australia, China, the Philippines, the United Kingdom and Vietnam further enhance its ability to unlock new opportunities and deliver exceptional value.
As it commemorates its 30th anniversary and embarks on a bold new chapter of growth in 2025, ETC reaffirms its commitment to excellence, fostering collaboration and achieving remarkable milestones in partnership with its clients and stakeholders.