Developer Fantasia Investment has only one project under its belt here but the firm sees plenty of opportunity in the local property sector.
Managing director Wang Lian said yesterday: "It's not so easy to predict Singapore's market in the short term, but in the long term, we are confident that the market here has good value.
"Singapore is a strategic city for us, as South-east Asia is the next hope. In China, the property market is even worse; there's no longer value there."
Mr Wang was speaking to The Straits Times yesterday at the launch of LifeUp, an application that will be made available to residents at 6 Derbyshire, its first development here.
The app, which took two years to create, allows residents to book facilities and make payments, as well as to control appliances within the home such as air-conditioners and television sets. The development, which is touted as a "smart condominium", also boasts facilities such as facial recognition devices for residents to access common facilities like the gym, as well as car plate recognition systems.
Mr Andrew Tan, business development and sales director of Smart Gateway, a Fantasia Investment unit behind the app, said potential buyers feel that the additional "smart home" features will attract renters.
More than 70 units - mainly three-bedders and above - have been sold at the 168-unit condo in Novena, mostly to Singaporeans, said Mr Wang. One-bedders, which start at 44 sq m, are priced from $1.1 million while three-bedroom units - they are 93 sq m and above - are going for $1.8 million and upwards.
Mr Wang said Fantasia Investment is keen to focus on the luxury property segment as it sees more opportunity there, despite declining prices.
The firm is a subsidiary of Hong Kong-listed Chinese developer Fantasia Holdings. Its business in Singapore is made up of property development, condo managing agent firm Smart Property Management and IT solutions company Smart Gateway.
Other "smart home" concepts have been unveiled recently.
Chinese developer Qingjian unveiled its "Internet-ready smart home" concept on Wednesday for its iNz Residence executive condominium (EC) in Choa Chu Kang.
A collaboration with Singtel will see units ready-fitted with 1 Gbps fibre broadband.
Singtel will also provide free Internet for a year to residents of the 497-unit EC and provide Wi-Fi services in common areas such as the gym and by the pool.
Residents can choose from various packages to include different smart appliances, including washing machines, lighting and air-conditioners, that can be controlled remotely through an app.
The showflat will be open to the public today, with sales starting on March 11. Prices of two-bedroom units start from $500,000.
