The 2013 Knight Frank World Wealth Report ranks Singapore sixth in the World as cities “that matter” to the Global Super Rich. More interestingly those surveyed predict by 2023 the Asian City State will be second behind only London jumping New York, Paris, Tokyo and Hong Kong.
Needless to say that’s good news for Patina Hotels & Resorts CEO Marc Dardenne. When his first hotel opens at the end of next year it will be part of a redevelopment project called Capitol, with four components: a restored Capitol Theatre, luxury retail (with eight flagship stores according to reports), his hotel and residential apartments being marketed under the name of Eden Residences.
While the hotel won’t open for well over a year, real estate sales at Eden have started. About a third of the 39 apartments ranging from 2,100 square feet to 6,420 square feet were sold are sold. Five duplex Penthouses include three to five bedrooms. Architect is Richard Meier & Associates.
Investment in the entire project was stated at S$750 million, and buyers for the residences have come from as far afield as Russia. Prices range from low million dollars to $10 million +. And since apartment owners are expected to be jetting in and out, they will have use of Patina facilities and services.