The Hideaways Club Looks To Singapore For The City Collection

By: Destination Club News
Date: February 22, 2011

When all is said and done, the recently launched City Collection by The Hideaways Club will include 120 modern apartments across the globe. Paris, London, Miami, Prague, and others are all at the top of the list, but Hideaways Club Founder Mike Balfour was in Singapore last week evaluating properties for the new companion club.

Instead of targeting branded developments such as the Ritz-Carlton or the Orchard Residences, which have seen transactions of more than $4,000 per square foot, Balfour is, as always, looking for more cost effective options. "If these homes have a brand-name to it, they usually command a premium. And we would like to maintain our profit margins," Balfour said.

Roughly 25% to 30% of the City Collection's portfolio is planned in Asia, with other major cities like Hanoi and Kuala Lumpur also currently being evaluated according to Balfour. In unison with the high percentage of planned residences throughout Asia, 30% of their future growth in terms of membership sales is planned to come from the region.

The launch of the City Collection comes on the heels of a 60% increase in membership sales in 2010 for The Hideaways Club and their "Classic Collection." Over the next three years, The Hideaways Club plans to triple in size and fully subscribe their first fund. This demonstrable success and expansion all led us to name The Hideaways Club as our 2010 International Destination Club of the Year.

"Following on from the huge success of The Hideaways Club’s first Fund, the Classic Collection, a lifestyle investment concept which provides members with ownership of a portfolio of spectacular international luxury villas and chalets around the world, the addition of The City Collection is a natural extension of the company’s current operation," said Nick Bettany, CEO of The Hideaways Club. "The success of the Classic Collection and extremely positive testimonials from our members confirms our belief that this type of investment is not just a financially astute way to own and use overseas properties, but provides the means to enjoy memorable holiday experiences while at the same time providing the logical alternative to sole property ownership."

With an unemployment rate of approximately 3%, a per capita income rivaling many European nations, and the fact that roughly 90% of citizens own their own homes, we posed the question "is Singapore the next destination club frontier?" last year. As evidenced by Balfour's visit, it is a top destination for the new club to add to their portfolio. Hand in hand, adding a new residence in Singapore better solidifies their selling position as the club already has a sales office in the region.

We are standing by to see where and when properties in Singapore will be officially introduced to the club's collection. Keep checking in to see the latest on The Hideaways Club and the rest of the destination club sector. If you would care to contribute your thoughts, please join our new Destination Club Forum where you can ask questions, provide your own insight, and discuss the industry.