What’s in a name, you ask?
Something as simple as a name can give a strong sense of belonging and identity for people, and it is no different for buildings. Ever wondered what goes into naming a private residential development? PropertyGuru spoke to some property developers to find out how they choose a name for their projects.
• Pick a name from the public
What better way instil a sense of homeownership among buyers than getting them involved in naming the development? Earlier this year, Qingjian Realty launched a contest to name two of its executive condominiums (ECs) in Singapore, offering $1,888 as the top prize. The competition, which ended on 30 April, encouraged entries to include the reason behind the name submitted.
Li Jun, General Manager of Qingjian Realty (South Pacific) Group said, “At the closing of the contest, we received more than 900 entries from the public giving us numerous suggestions for the name of our upcoming two ECs at Woodlands and Anchorvale.”
The contest entries are currently being evaluated by a panel of judges and the winning name will be revealed closer to the date of the launch of the projects. “As the buyers of ECs are for self-stay, we felt that it is important to engage this group of buyers so that they are involved in their development to create a sense of ownership,” Li said.
Previously, Qingjian received overwhelming response for a similar a contest to name a project in Punggol which was launched in 2012.
• Location, location, location
Developers we spoke to generally agreed the names of the condo should signify the project’s geographical locality.
For instance, the name of a condominium helps Frasers Centrepoint Homes position the development and showcase its unique features and location. “For example, the name RiverTrees Residences is conceptualised based on its close proximity to the reservoir and parklands surrounding the scenic site,” said Elson Poo, General Manager of Sales and Marketing at Frasers Centrepoint Homes.
Sometimes, the building’s architectural brilliance and novelty could also serve as a muse for a name. A spokesperson for CapitaLand Singapore said, “We choose names that reflect the design concept, unique features and strategic location of our residential projects.”
• Not to be confused with…
That being said, it would be ideal to have a name which is not too close to existing developments.
“Important factors in finalising the names include an indication of the location of the condominium, the kind of quality the purchasers will get from us and to be distinct enough so as not to be confused with any existing names,” Chong Chou Yuen, CFO of Tuan Sing said.
PropertyGuru’s Condo Directory shows there are some condominiums with names which are a little too similar to each other, especially if they are located within the same area, and this may lead to some confusion for buyers and investors.
• What’s the name again?
However, in an attempt to be distinctive and creative, it is also good to strike a balance and choose a timeless name for the project, instead of something that is deemed fashionable at that time, so that it remains relevant in the years to come.
“The name should also be able to withstand the test of time and not just follow a passing fad,” said Chong. He opined that the name of the condominium should also be easy to remember, so that buyers and owners with different levels of English language proficiency are at ease with pronouncing and spelling it.
• Sensible in translation
In a place like Singapore, where multilingualism is a way of life, some developers take steps to reflect that in their projects.
For example, to reach out to a wider market, CapitaLand Singapore would also come up with a name in Mandarin, which has a synonymous meaning with the English version, for its residential projects.
Besides ensuring the name has no negative societal, cultural or religious connotations, Frasers Centrepoint Homes also makes sure that it does not sound offensive when translated to other languages.
So does the name of a condominium add to the value or attractiveness of the project? Ultimately, does it actually matter what the name of the building you live in is?
According to CapitaLand, the name of the project is important as it could help shape buyers’ perceptions of the attractiveness of the projects. “Of course, potential buyers would definitely pay attention to the design, facilities, location, proximity to the transportation network and amenities, lifestyle concept and the layout of the units. These are the factors that will help to enhance the value of the project in the long term,” the company’s spokesperson said.
While the name of a condominium may help to add some buzz to a new launch and give it a little nudge to stand out from the competition, it seems like it is only a small part of the big picture. Poo said, “Whilst the naming of the condominium is important, home buyers’ decision to purchase is largely determined by the right mix of price, product and its location.”
As more new properties enter the market in the next coming years, it would be interesting to see how developers will name their upcoming projects that will not only resonate with potential buyers and homeowners, but also enhance and add character to the location and estate it is in.
Credits: Property Guru