OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX Central Expressway (CTE) 中央高速公路 Orchard Road 乌节路 Somerset Road 索美塞路 Bras Basah Road 勿拉士峇沙路 Orchard Road 乌节路 Penang Road 槟城路 Fort Canning Road 福康宁路 Bencoolen Street 明古连街 Queen Street 奎因街 Victoria Street 维多利亚街 Victoria Street 维多利亚街 North Bridge Road 桥北路 Rochor Road 梧槽路 North Bridge Road 桥北路 Raffles Boulevard 莱佛士大道 Raffles Avenue 莱佛士道 Stamford Road 史丹福路 Selegie Road 实里基路 Beach Road 美芝路 Nicoll Highway 尼诰大道 Nicoll Highway 尼诰大道 Hill Street 禧街 Ophir Road 奥菲亚路 River Valley Road里峇峇利路 Maxwell Road 麦士威路 Clemenceau Avenue 克里门梭道 Shenton Way 珊顿道 Esplanade Drive 滨海通道 Bayfront Avenue 海湾大道 Sheares Avenue 薛尔思道 Street 克罗士街上段 Upper Cross New Bridge Road 新桥路 Eu Tong Sen Street 余東旋街 Bayfront Avenue 海湾大道 Central Boulevard 中央大道 Havelock Road 合乐路 Havelock Road 合乐路 Merchant Road 马真路 Neil Road 尼路 广东民路 Cantonment Road Marina Boulevard 滨海大道 Central Boulevard 中央大道 欧南路 Outram Road 欧南路 Outram Road Central Expressway (CTE) 中央高速公路 Kim Seng Road 金声路 Keppel Viaduct 吉宝高架桥 Marina Coastal Expressway (MCE) 滨海高速公路 East Coast Parkway (ECP) 东海岸公园大道 Robinson Road 罗敏申路 Marina Bay 莱佛士道 Singapore River 新加坡河 Keppel Harbour 吉宝港口 Keppel Road 吉宝路 CHIJMES 赞美广场 Capitol Singapore 首都新加坡 The Skywaters 天澜尊⼤厦 Golden Mile Complex 黄金坊 Chinatown Point 唐城坊 Nicoll Highway MRT Station 尼诰⼤道地铁站 CC5 Promenade MRT Interchange Station 宝门廊地铁中转站 CC4 DT15 Bayfront MRT Interchange Station 海湾舫地铁中转站 CE1 DT16 Marina Bay MRT Interchange Station 滨海湾地铁中转站 NS27 CE2 TE20 Marina South Pier MRT Station 滨海南码头地铁站 NS28 Shenton Way MRT Station 珊顿道地铁站 TE19 Prince Edward Road MRT Station 爱德华太子路地铁站 CC32 Tanjong Pagar MRT Station 丹戎巴葛地铁站 EW15 Bugis MRT Interchange Station 武吉士地铁中转站 EW12 DT14 City Hall MRT Interchange Station 政 府中⼤转厦站地 铁 NS25 EW13 Esplanade MRT Station 滨海中心地铁站 CC3 Bras Basah MRT Station 百胜地铁站 CC2 Bencoolen MRT Station 明古连地铁站 DT21 Rochor MRT Station 梧槽地铁站 DT13 Fort Canning MRT Station 福康宁地铁站 DT20 Raffles Place MRT Interchange Station 莱佛士坊地铁中转站 NS26 EW14 Downtown MRT Station 市中心地铁站 DT17 Telok Ayer MRT Station 直落亚逸地铁站 DT18 Chinatown MRT Interchange Station 牛车水地铁中转站 NE4 DT19 Maxwell MRT Station 麦地 士铁 威站 TE18 Outram Park MRT Interchange Station 欧南园地铁中转站 EW16 NE3 TE17 Clarke Quay MRT Station 克拉码头地铁站 DT17 Cantonment MRT Station 广东民地铁站 CC31 Dhoby Ghaut MRT Interchange Station 多美歌地铁中转站 NS24 NE6 CC1 Somerset MRT Station 索美塞地铁站 NE23 Orchard MRT Interchange Station 乌节地铁中转站 NS22 TE14 Jalan Besar MRT Station 惹兰勿刹地铁站 DT22 Marina South MRT Station 滨海南地铁站 TE21 Havelock MRT Station 合乐地铁站 TE16 Great World MRT Station ⼤世界地铁站 TE15 Keppel MRT Station 吉宝地铁站 CC30 Strong Presence in Singapore’s Central Business District and Civic District Perennial Holdings’ Owned Asset 鹏瑞利的自有资产 Perennial Holdings’ Managed Asset 鹏瑞利的管理资产 MRT Station 地铁站 Expressway 高速公路 Central Business District 中央商业区 Civic District 市政区 Source: Urban Redevelopment Authority, Land Transport Authority and Street Directory 7 Qlik Sense article, dated 2023. demand. Revenue per Available Room (“RevPAR”) has demonstrated a remarkable YoY expansion of 19.5%7, surpassing pre-pandemic levels. MARKET REVIEW In 2023, Perennial Holdings’ three flagship integrated developments made significant headways. At 8 Shenton Way, demolition of the former office tower was completed to make way for the construction of Singapore’s tallest and first supertall building, defined as a structure above 300 metres. The iconic development has been named The Skywaters, which reflects its status as the tallest building in Singapore at a height of 305 metres. with unblocked views of the South China Sea, while its luxury residential component has been named Skywaters Residences. Ahead of the anticipated launch of Skywaters Residences, its sales gallery located along Bayfront Avenue, one of the largest constructed to date locally, was also completed. An internationally renowned luxury hotel operator has also been appointed for The Skywaters’ hotel component, with the operator’s name to be announced in due course. At Golden Mile Complex, a conservation landmark in the city, vacant possession was successfully obtained following its acquisition in 2022. Subsequently, a team of conservation experts was appointed to ensure sensitive interventions in the redevelopment of the conserved building, paying special attention to retaining its key features and signature terraced profile. The building’s provisional planning approval was also secured in the year. FY2023 also saw an uplift in leasing activity at Capitol Singapore, where committed retail occupancy grew from 90% to 98% YoY, bringing in new tenants and concepts that added to the vibrancy of the conserved integrated development. Several large-scale events and concerts, such as the Asian Academy Creative Awards, were also held, drawing strong crowds and boosting shoppers’ traffic. Capitol Singapore’s residential component, Eden Residences Capitol, also performed well in the year, with sales prices exceeding their average over the past years. On the hospitality front, Singapore saw strong visitor arrivals trending towards pre-COVID levels, and Capitol Singapore’s hotel component, The Capitol Kempinski Hotel Singapore, recorded an encouraging growth in occupancy. As for CHIJMES, it continued to register a strong committed occupancy of close to 100% and robust rental reversions for leases renewed. Capitalising on its strategic location in the heart of Singapore’s Civic District, various largescale events, including the Singapore Night Festival and collaboration with the Formula One Night Race, were held with resounding success during the year. 45 ANNUAL REPORT 2023
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