Chang: We want to provide what is necessary so that the homeowners don’t end up paying exorbitant conservancy fees (Pictures by: Samuel Isaac Chua/EdgeProp Singapore)
SINGAPORE (EDGEPROP) – The Iveria, a redevelopment of the former Riviera Point on Kim Yam Road, is expected to preview next month. The 51-unit, freehold, boutique development is jointly developed by niche property developer Macly Group and construction firm, Lim Wen Heng Holdings.
However, the concept for The Iveria is the brainchild of Joan Chang, marketing director of Macly Group. She is also the eldest daughter of the firm’s founder and managing director, Herman Chang.
According to the “second-generation Chang” who is also the director of Macly Iveria Pte Ltd, she came up with the concept for The Iveria after a weeklong holiday in New York City, where she immersed herself in the lifestyle and feel the vibe of the city.
The building that inspired Chang most was the Flatiron Building, a 22-storey, triangularshaped, steel structure. Constructed in 1902, it is a designated National Historic Landmark in New York City.
The Iveria is a 51-unit, freehold development jointly developed by Macly Group and Lim Wen Heng Holdings
As the site on Kim Yam Road is triangular- shaped too, her concept for The Iveria was “a modern interpretation of the Flatiron Building”, says Chang. The 19-storey, wedge-shaped building was designed by JGB Architects. The project features exclusively three-bedroom and three-bedroom-plus-study apartments with an average size of 915 sq ft. But the three units on the topmost level are likely to be the most coveted, owing to the views they offer, says Chang.
Attention has also been paid to the interiors of the apartments, where the colour palette is monochromatic. While the flooring is of marble, the feature wall in the living room and master bedroom is of textured, concrete panels. The kitchen has cabinets with a metallic sheen, a quartz countertop, and appliances by top-end German brand Gaggenau.
The Iveria features exclusively three-bedroom and three-bedroom-plus-study apartments
Even the wardrobes in the bedrooms with glass panels are customised and imported from Germany. Similarly, the bathrooms feature made-in-Germany designer taps, shower, and other sanitary fittings. “These are similar to those used at the Ritz-Carlton Residences,” says Chang.
Luxe for a new generation
In her own way, Chang believes she is redefining luxury and creating a new line of luxury homes that will appeal to her generation of home buyers.
As such, the 28-year-old is concurrently launching a new lifestyle brand, The Ove Collection, where The Iveria will be its flagship project. “The word ‘Ove’ is derived from ‘alcove’, which is a small recessed area of a room or garden,” she explains. “It means home, a space you can call your own.”
Only premium projects with suitable lifestyle elements will be included in The Ove Collection, adds Chang. “The idea is that luxury doesn’t have to mean ‘over the top’ materials or all the bells and whistles usually associated with it.”
Chang believes she is redefining luxury and creating a new line of luxury homes that will appeal to her generation of home buyers
Chang is confident the concept of The Iveria will appeal to her generation of home buyers. After all, six of her friends have already expressed interest in taking up units in the project. “All my friends who have seen it, even the 30-somethings, say they like it,” she says.
Given that her target audience is primarily millennials like her, Chang has dispensed with the services and features associated with luxury condos, such as the concierge service or even a gym, as most people already have gym memberships. “The modern home buyer doesn’t need those,” she adds. “We want to provide what is necessary so that the homeowners don’t end up paying exorbitant conservancy fees. We want to provide something that people can afford and appreciate.”
Two more projects are in the pipeline for launch next year, says Ken Yeo, Macly Group’s regional director for developments. One is the upcoming 39-unit Noma on Guillemard Road, a redevelopment of five terraced houses purchased by the group in January 2018 for $20.55 million. The second is Tedge on Telok Kurau Road, which is a redevelopment of a row of nine shophouses which Macly Group purchased for $35.5 million also in January last year.
Macly Group is also a joint-venture partner with Roxy-Pacific Holdings and Lim Wen Heng Holdings for NEU at Novena, an 87-unit, freehold development on Moulmein Rise. It is scheduled for launch on Oct 19 at prices starting from $2,450 psf. The freehold project is located in prime District 11.
Meanwhile, Chang says of The Iveria: “I’m glad my dad entrusted me with the concept and design of the new lifestyle brand for this premium project.”
For price trends, recent transactions, other project info, check out the project research page: NEU at Novena
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