New F&N brand targets intergeneration home owners

TRIO brand part of a move to cater to fast-growing intergeneration market.

In a disclosure to the Singapore Exchnage, Fraser & Neave property arm Frasers Centrepoint Homes said it has launched the TRIO by Frasers brand for its collection of intergeneration homes, "a concept of which it is a pioneer in the private housing market in Singapore."

Moving forward, Frasers Centrepoint Homes said it plans to offer more intergeneration home units under
the TRIO by Fraser brand. It also looks to further innovate and refine the concept to continually provide homebuyers with attractive and differentiated products that meet their needs and preferences.

Frasers Centrepoint Homes will also be dedicating approximately 20% of the total number of units at its upcoming condominium project at Tampines to intergeneration home units.The project is expected to be launched in the first quarter of 2013.

The company defined intergeneration homes, which are also commonly known as dual-key units, as apartments with one or more bedrooms that come together with an adjoining studio apartment under a single strata title.

In explaining the growing demand for this home type, the firm explained that intergeneration homes are becomuing popular among multi-generational families who wish to stay under one roof yet still enjoy some degree of personal space and privacy can occupy both the larger apartment as well as the studio apartment.

"Alternatively, younger home owners with smaller family sizes can choose to rent out the adjoining
studio apartment for short-term leases with the intention to accommodate their elderly parents in
the future, or use it as a home office," it said.

“TRIO by Frasers positions us as the leader in this new and growing market segment and signifies our commitment to further developing the market. We are encouraged by the strong demand thus far and the positive feedback we have received from buyers who have taken possession of their units, which are part of Singapore’s first batch of completed intergeneration homes by a private developer," said Mr Cheang Kok Kheong, Chief Executive Officer of Frasers Centrepoint Homes.

Frasers Centrepoint Homes recently delivered its first intergeneration homes to buyers of its private condominium projects Caspian and 8@Woodleigh in July and August 2012 respectively, following the receipt of the Temporary Occupation Permit (TOP) for both projects. Caspian was the first private residential property project in Singapore to offer intergeneration home units when it was launched in February 2009. Both projects were fully sold out.

To-date, Frasers Centrepoint Homes has a total of 266 intergeneration home units across seven projects. These comprise five private condominiums – 8@Woodleigh, Boathouse Residences, Caspian, Eight Courtyards, and Flamingo Valley; as well as two executive condominiums – Esparina Residences and Twin Waterfalls.

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