Redefining the shape of our citiesAs capital flows from Asia continue to wash up on Australia’s shores, a new style of architecture is on the horizon – one that may help us redefine the shape of our cities.Australia continues to trade on its reputation as a highly transparent, well-regulated market fortified by a stable economic environment, with Asian countries accounting for three of the top five offshore investors.According to data released earlier this year by the Foreign Investment Review Board, mainland Chinese buyers topped the list of foreign buyers in 2014 with around $60 billion worth of approved investments. But increased interest from Malaysian, Singaporean and Hong Kong investors also netted $7 billion in property transactions.”Australia attracts increasingly sophisticated investors from China, South East Asia and the Middle East – and they are seeking the international design quality they’ve come to expect in Shanghai, Dubai or New York,” says chief executive officer of dwp, Leone Lorrimer (pictured).dwp recently announced it was expanding in Australia, after completing a full financial merger with dwp|suters.Lorrimer thinks the “Asian design sensibility” will help us create better buildings as our cities densify, and points to Central Park on Sydney’s Broadway, delivered by Singaporean-owned Frasers Property Australia, as a good example of density done well.”Singaporeans have a much longer tradition of thinking strategically about development, because they have such little land and every square metre is precious. They are masters of delivering high-density development with beautiful gardens and shared facilities that bring with them high levels of amenity.”Central Park does that. It is higher density, but it also gives more back to the public through the common areas, gardens and bigger picture thinking around district services,” Lorrimer adds.High-end apartment developments in Bangkok, Singapore and Dubai have “exceptional” communal facilities, she adds, with much better “gardens, swimming pools and places to host dinner parties” than could ever be within the reach of most Australians living in the suburbs.Greg Incoll is the development director for Singaporean company Pontiac Land, and is currently overseeing the $300 million redevelopment of the heritage-listed Sandstones (pictured, right), formerly the Lands and Education buildings on Bridge Street in Sydney’s CBD.He says Pontiac is interested in “adding to the architectural quality of Sydney”.”Pontiac is focused on high-quality, long-term outcomes, and is particularly keen on premium sites and quality hotels, with a long-term view,” he says.The reimagining of Sandstones, conceived by international design house Make Architects, features a rooftop wintergarden, refurbished domes and temples, and an octagonal meeting room. The horse and carriage way, which once bisected the Lands building but was closed off in the 19s, will be rejuvenated with arcades and courtyards for retail outlets.”Pontiac is influencing design by making sure that capital and operational costs are both considered in the design phase, and by looking at timeless design that won’t necessitate hotel refurbishments on a constant basis,” Incoll adds.Jingmin Qian says the fierce competition in Asian cities drives developers to “differentiate” their product to “stand out”.Qian, an Australian resident born in China, sits on the board of several organisations doing business in Asia and runs Jing Meridian, a consultancy that advises on investments, management and Asian business development.Qian says Asian design is “quite distinct”.”If you go into new buildings in Singapore, Malaysia, Shanghai or Hong Kong, you see that each has a story to tell. And the building owners market that story as a feature. Because there are so many buildings, each one needs to stand out from the crowd.””When we have more buildings in Australia, I suspect this will happen here. But certainly, there is more comfort from Asian investors for unique design.”Asian investors are willing to push the envelope, and they understand it may cost a bit more now but they are thinking of the long-term investment.”Asian-inspired design – particularly those influenced by the principles of Feng Shui – doesn’t just appeal to Asian investors, Qian is quick to point out.”It is estimated that 15 per cent of Australia’s population are Asian background – and it’s even higher in Sydney and Melbourne. Investors may influence the way we build, but the preferences of people who live here have an even bigger impact.”Sekisui House, for example, has more than $2 billion invested in residential development in Australia, and is sharing Japanese homebuilding technologies and design sensibilities with Australians. Design ideas from the floorplans and the flows of the rooms to clever storage ideas that squeeze more out of space work as well in Sydney apartments as they do in Tokyo crash pads. Lorrimer says we have an opportunity to “take the best of Asian design and make it our own” as our cities become denser.”It’s about bringing the best of global trends but making it authentic to that exact space.”Leone Lorrimer will be speaking at the Property Council’s NSW Women in Property cocktail reception, alongside Sarah Hill, CEO of the Greater Sydney Commission, this evening in Sydney. Tickets are still available.
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