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Subscribe to this list via RSS Blog posts tagged in 99 years leasehold

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SINGAPORE - Chinese developer Qingjian Realty will open its first mixed-use development - Le Quest in Bukit Batok - for preview on Saturday (July 22).

The average selling price for private homes at the project is about S$1,280 psf, the developer said on Wednesday (July 19).

Le Quest, a 99-year leasehold development, will feature 516 residential units - along with more than 6,000 sq m of retail space on the ground floor.

About 40 per cent of the commerical space will be devoted to food and beverage, with the remaining area going to other retail and lifestyle offerings.

Qingjian said about 30 per cent of the retail space has been leased, with anchor tenant NTUC Fairprice Finest set to take up more than 1,200 sq m of space, and food court operator Koufu to occupy over 500 sq m of the area.

This is the first retail mall that Qingjian is managing here.

The residential units - from studio apartments to four-bedders - will be spread across five blocks comprising 12-storeys each.

There are 132 studio and one-bedroom units with size ranging from 431 sq ft to 614 sq ft. Indicative prices for the studio start from S$588,000 and S$648,000 for the one-bedders.

Two-bedroom units, which spans 592 to 829 sq ft - accounting for about 28 per cent of the development - will cost at least S$758,000.

Most of the units in Le Quest - 192 of them -are three-bedders, with sizes from 818 to 1,206 sq ft. Prices for these units start from S$990,000.

The 48 four-bedroom apartments have a starting price of S$1.38 million. They are between 1,130 sq ft and 1,528 sq ft.

"We think this is a fair price. It is the first mixed development in the area... looking at the market now, we are optimistic about response for the project," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, when Ms Chong said the firm is aiming to sell 150 apartments on that first launch weekend.

The development is expected to be completed at the end of 2021.

 

Credits: The Straits Times

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Chinese developer Qingjian Realty will open its first mixed-use development - Le Quest in Bukit Batok West - for preview this weekend.

The average selling price for private homes at the 516-unit project is about $1,280 per sq ft, the developer said yesterday.

Le Quest, a 99-year leasehold development, will also have more than 6,000 sq m of retail space on the ground floor, with about 30 per cent of the space already leased.

"We think this is a fair price. It is the first mixed development in the area... Looking at the market now, we are optimistic about response for the project," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, with hopes that 150 apartments will go.

Sales of new private homes have been robust this year, boosted by positive market sentiment following the slight easing of certain cooling measures in March.

The homes at Le Quest - from studios to four-bedders - will be spread across five 12-storey blocks. There are 132 studio and one-bedroom units with sizes ranging from 431sq ft to 614sq ft.

Indicative prices for the studios start at $588,000, with one-bedders at $648,000, Qingjian said at a briefing yesterday.

Two-bedroom units, which span 592 to 829 sq ft, account for about 28 per cent of the development. They will cost at least $758,000.

Prices for the 192 three-bedders (818 to 1,206 sq ft) will start at $990,000, and the 48 four-bedroom apartments (1,130 to 1,528 sq ft) will start at $1.38 million.

Some analysts told The Straits Times that the prices seem to be on the high side.

"The average selling price is a bit rich for the neighbourhood and it is not near the MRT station. Buyers will be paying a premium," said International Property Advisor chief executive Ku Swee Yong.

On the commercial component, Ms Chong said despite the challenges facing the retail industry, Le Quest is drawing good response from prospective tenants.

Anchor tenant FairPrice Finest supermarket is set to take up more than 1,200 sq m, while foodcourt operator Koufu will occupy about 500 sq m.

The developer, which will be managing a mall for the first time here, is in talks with potential tenants, including fast-food joints and cafes, on leasing for another 20 per cent of the commercial space.

Ms Chong said the mall will have a "hipster/contemporary" theme, with 40 per cent of the retail space for food and beverage outlets and the remaining area going to other offerings.

Le Quest, which will feature smart-home technologies, is expected to be completed at the end of 2021.

This will be Qingjian's final new project launch this year.

The developer plans to launch a new development on the site of Shunfu Ville, which it acquired for $638 million via a collective sale last year, in the third quarter of next year.

 

 Credits: The Straits Times

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Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.

Group revenue during the period also jumped 27.7 percent to $1.374 billion.

In an SGX filing, the group attributed the increase to higher contributions from CapitaLand’s residential business in China and Singapore, shopping malls in Malaysia and China, its commercial portfolio in Singapore, and newly acquired serviced residences.

The residential projects which contributed to higher revenue in Q3 included The Nassim and Cairnhill Nine in Singapore, New Horizon in Shanghai, Vermont Hills in Beijing and Riverfront in Hangzhou.

Earnings before interest and tax (EBIT) also rose 7.7 percent year-on-year to $494.4 million in Q3, with Singapore and China remaining as key contributors.

Looking ahead, Lim said the group will continue to grow its assets under management through capital recycling, portfolio optimisation, fund management and management contracts.

 

Credits: Propertyguru

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Queens Peak, Hao Yuan Investment’s 736-unit condominium project at Dundee Road, has been warmly received by buyers, with 242 units sold during its launch on Saturday (5 November).

One- and two-bedroom units accounted for 90 percent of all the units sold, while the project’s average price stands at $1,632 psf. The lowest transacted price was $1,406 psf.

The developer attributed the encouraging sales to the project’s good connectivity to the nearby Queenstown MRT station, as well as the fact that all units are at least eight storeys above ground.

“We have received feedback from buyers that Queens Peak is an attractively priced city fringe project made affordable for mass condominium buyers,” said Tan Zhiyong, Managing Director of MCC Land, the project manager for Queens Peak.

Meanwhile, the 752-unit Parc Riviera at West Coast Vale sold more than 100 units on Saturday, offering a “one-tier pricing scheme” for units found on the lowest floor to the 15th floor, reported The Business Times.

With the average price at $1,150 psf, more than 95 percent of units sold are those that come under the one-tier pricing scheme. Around 80 percent of buyers opted for the one- or two-bedroom units.

The scheme, which was originally planned to be offered only on Saturday, did not generate further interest when it was extended to Sunday, with only a few more units sold.

While location may have played a role in the project’s sales performance, EL Development Managing Director Lim Yew Soon noted that the manner by which smaller units were distributed in the project may have also been a factor.

The smaller units at Queens Peak are concentrated on the lower floors to keep the quantums low for investors, while Parc Riviera has similar unit types from the lowest to the highest floors. The developer kept the unit-type composition consistent on each floor due to the use of prefabricated prefinished volumetric construction (PPVC).

Lim explained that it would be challenging for a project using PPVC to have different unit types stacked on top of another as this would require transfer beams and columns to be erected on each floor.

He also revealed that the project will revert to its original price list.

“We took quite a steep discount for the units on the higher floors so we can’t keep doing it all the time,” he said. “We are not planning for further discounts now. Based on the original pricing, it’s still attractive.”

 

Credits: Propertyguru

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Property developer EL Development will offer a one-tier pricing scheme for its Parc Riviera condominium during the project’s soft launch this Saturday (5 November), reported The Straits Times.

The scheme will see units of the same type from the second floor to the 15th floor carrying the same prices.

A 603 sq ft two-bedroom unit, for instance, will be priced at $725,000, regardless of whether it is located on the second floor, the 15th floor, or anywhere in between. Units located higher up in the two 36-storey towers will have higher prices.

EL Development Managing Director Lim Yew Soon revealed that he came up with the novel strategy to give early buyers ‘maximum benefits’.

Typical early bird promotions that advertise units going for ‘$5xx,000’ usually leave buyers guessing a unit’s price as well as its level. He describes this approach as clichéd and ‘a bit old-fashioned’.

“We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,” he said.

Located near Pandan Reservoir, Parc Riviera comprises two 36-storey towers and a four-storey carpark. Sizes for the units range between 463 sq ft for a one-bedder and 1,711 sq ft for the biggest four-bedder. Around 64 percent of the development contains one- and two-bedroom units, said EL Development.

Lim noted that the price difference for units on the 15th and 16th levels will be ‘substantial’, by around five percent.

Meanwhile, property experts are optimistic about the scheme. In fact, PropNex Realty CEO Mohamed Ismail expects the strategy to be effective.

“This is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer,” he said.

Ong Kah Seng, Director of R’ST Research, on the other hand, said the strategy’s main purpose is to encourage buyers to ‘snap up’ units on the higher floors.

He added that units located on the higher floors of a 20-storey condominium are typically more expensive by up to 15 percent, compared to those located within the middle levels.

Although the scheme could mean that lower floor units may remain unsold for a while, this is immaterial since “the project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits”, said Ong.

 

Credits: Propertyguru

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To entice early-bird buyers, the developer of West Coast condominium Parc Riviera is taking a novel one-tier pricing approach.

EL Development is offering units of the same type from the second to the 15th levels for the same price.

For example, a 603 sq ft two-bedroom flat will be priced at $725,000, regardless of whether it is on the second or 15th level - or anywhere in between.

Most developers charge higher prices for flats on higher floors because higher flats tend to be more popular for the views.

While flats will be priced the same between the second and 15th floors, flats higher up the two towers of 36 storeys at Parc Riviera will be offered at higher prices.

Mr Lim Yew Soon, EL Development's managing director, said he came up with the strategy as he wants early buyers to enjoy "maximum benefits".

Typical early bird promotions which might advertise units going for "$5xx,000" leave buyers guessing about the price and the level of the flat.

He said this approach was "a bit old-fashioned" and cliched. "We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive," he added, saying this will get buyers to come in earlier.

The one-tier pricing scheme will be available only on Saturday at the condominium's soft launch.

Parc Riviera, located near Pandan Reservoir, comprises two 36-storey towers with a four-storey carpark. Unit sizes range from 463 sq ft for a one-bedroom unit to 1,711 sq ft for the largest four-bedder. EL Development said that about 64 per cent - are one- and two-bedroom apartments.

Mr Lim said the price difference between the 15th and the 16th floor will be "substantial", by about 5 per cent.

Property experts were optimistic about the move.

PropNex Realty chief executive Ismail Gafoor said that the strategy is likely to be effective.

"This is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer."

Mr Ong Kah Seng, director of R'ST Research, said that the main purpose of the strategy is to encourage buyers to "snap up" the higher floors.

Typically, units on the higher floors of a 20-storey condominium are more expensive by up to 15 per cent than those in the middle levels, he added.

While this might mean lower floor units could be unsold for a while, Mr Ong said that this is "immaterial" as "the project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits".

Credits: Straits Times New

 

 

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UPDATED: A 1.7ha residential site in the reserve list of the second half 2016 Government Land Sales (GLS) Programme has been released for application, said the Urban Redevelopment Authority (URA) on Thursday, 27 October.

Located at Serangoon North Avenue 1, the site could be developed into a two-storey project with a maximum gross floor area of 42,973 sq m. It could yield up to 505 private housing units.

The 99-year leasehold site is close to Chomp Chomp Food Centre, Serangoon Garden Market and several schools.

A reserve list site is only triggered for sale if a developer’s minimum bid price is acceptable to the government.

 

Credits: Propertyguru

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Posted by on in New Launches

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Some 1,800 home buyers and their guests turned up at a celebration party on Saturday (3 September) to mark the completion of Sky Vue in Bishan Central. The event was jointly hosted by the project’s developers CapitaLand and Mitsubishi Estate Asia.

The 99-year leasehold condominium located close to Bishan MRT station obtained its TOP on 21 July.

Around 97 percent, or 672 of the 694 units have been sold as at end-August, said CapitaLand.

The remaining 22 units are mostly two-bedroom configurations measuring 678 sq ft to 829 sq ft, with prices starting from $1.16 million. Also available are a 484 sq ft one-bedroom unit and two penthouses of 2,045 sq ft each.

“We are confident of selling the remaining 22 units, especially with its completion,” said Wen Khai Meng, CEO of CapitaLand Singapore. “This is the fourth completion party we have organised for our home buyers, following those held at The Interlace, d’Leedon and Sky Habitat.”

In an update on its deferred payment scheme, called the stay-then-pay scheme, Wen revealed that 59 options were exercised for d’Leedon, and 42 for The Interlace between 20 June and 30 August. “This scheme is very well-received,” he said.

Under the standard payment scheme, 13 units were sold at d’Leedon and nine at The Interlace during this period.

CapitaLand will also be introducing a marketing scheme to move units at Sky Habitat. Meanwhile, Marine Blue will be completed in the coming months before being officially launched.

 

Credits: Propertyguru

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Posted by on in New Launches

Northwave executive condominium (EC) saw 20 units sold during its first day of bookings last Saturday (9 July), despite receiving 240 e-applications, reported The Business Times.

Consultants attributed the project’s lacklustre showing to various factors, such as poor transport links and oversupply in the market.

Situated at Woodlands Avenue 12, the 358-unit project is a 10-minute walk to Sembawang MRT station, or two stops away from Woodlands Regional Centre.

Meanwhile, two completed ECs within the vicinity – Woodsvale and NorthOaks – have reached the 10-year mark. Market watchers noted that these projects are located much closer to Admiralty MRT station, and were developed by established firms.

Woodsvale was developed by Pidemco Land, which was then merged with DBS Land to form CapitaLand, while NorthOaks was developed by the Hong Leong Holdings, the privately held property arm of Hong Leong Group.

Northwave, on the other hand, is the fourth residential project of Hao Yuan Investment in Singapore, and its third EC project following Forestville and Sea Horizon.

In today’s buyers’ market, upgraders can afford to be choosy, whether in the private condominium market, new EC market and resale EC market, said Nicholas Mak, Executive Director at SLP International.

In addition to Woodsvale and NorthOaks, there is a substantial overhang of unsold units in previous EC projects, namely The Brownstone, Bellewoods, The Criterion and Signature at Yishun.

Mak expects the oversupply situation in the EC market to improve after one to one-and-a-half years.

Meanwhile, Ku Swee Yong, CEO of Century 21 Singapore, said it may be time for the government to review the EC scheme’s relevance.

He revealed that there may be around 3,000 to 4,000 launched but unsold EC units, and the poor performance is an “obvious indicator that we have flooded the market with too much”.

“In fact, increasing the household income to $12,000 for HDB BTO (Build-To-Order) purchases has cannibalised the number of eligible buyers,” he said. “The authorities really should review the need for an EC scheme.”

 

Credits: Propertyguru

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Treasure Crest, Sim Lian Group’s executive condominium (EC) project at Anchorvale Crescent in Sengkang, witnessed robust demand over the weekend, with e-applications outnumbering the number of units, reportedThe Straits Times.

The 504-unit development received 520 e-applications as at 5pm on Sunday (3 July). E-applications for the project will close on 10 July, while bookings start on 16 July.

The 99-year leasehold development comprises 84 three-bedroom units, 364 three-bedroom premium units and 56 four-bedroom units spread across eight 15-storey residential blocks.

Unit sizes range between 958 sq ft and 1,345 sq ft, while prices range from $735 psf to $755 psf on average.

A source close to the developer revealed that larger units emerged as the popular choice among e-applicants.

Set to receive its TOP by 2019, the EC project is close to the Sengkang MRT station and bus interchange. Nearby schools include Nan Chiau High School, Nan Chiau Primary School and CHIJ St Joseph’s Convent.

Last week, Kuik Sing Beng, Executive Director of Sim Lian, said he expects the project to appeal to new home buyers and upgraders alike, since it is located in a “well-connected, bustling new town”.

Aside from Treasure Crest, four other ECs have gone on sale in recent months, including Northwave in Woodlands, Parc Life and The Visionaire in Sembawang, and Wandervale in Choa Chu Kang, another project by Sim Lian.

Credits: Propertyguru

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Property developer Sim Lian Group will launch its 504-unit Treasure Crest executive condominium (EC) project at Anchorvale Crescent for e-applications this Friday (1 July), with unit prices ranging between $735 psf and $755 psf on average.

This comes a week after e-applications opened for Northwave EC in Woodlands at a slightly higher average price of $760 psf.

Treasure Crest comprises 84 three-bedroom units, 364 three-bedroom premium units and 56 four-bedroom units, spread across eight 15-storey residential blocks. Unit sizes range from 958 sq ft to 1,345 sq ft.

The 99-year leasehold project is being marketed by ERA and OrangeTee. It is within close proximity to the Sengkang MRT station and bus interchange.

Other nearby amenities include Compass One, Oasis Terraces, Waterway Point, The Seletar Mall and Anchorvale Community Club. Established schools such as Nan Chiau Primary School, Nan Chiau High School and CHIJ St. Joseph’s Convent are also within the vicinity.

The project is expected to receive its TOP by 2019.

Sim Lian’s Group Executive Director Kuik Sing Beng expects the project to “appeal to new home buyers and upgraders alike”.

In 2015, the qualifying income ceiling for ECs was raised to $14,000. In addition, first-time buyers are eligible for CPF Housing Grants of up to $30,000.

PropertyGuru understands that prospective buyers will have a choice of a normal payment scheme or a deferred payment scheme.

E-applications will close on 10 July, while bookings start on 16 July.

 

Credits: Propertyguru

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Posted by on in New Launches

RECENT LAUNCH

City Gate
371 Beach Road

Type: Mixed development

Developer: Bayfront Ventures (Fragrance Group and World Class Land)

Tenure: 99-year leasehold

Facilities: Sky gym, gourmet dining and teppanyaki grill, outdoor fitness area, 40m outdoor swimming pool

Nearby Key Amenities: Bras Basah Complex, Kampong Glam, Bugis Junction, National Library, InterContinental Singapore

Nearest Transport: Nicoll Highway MRT

Average Indicative Price (psf): $1,833

TOP: June 2020

City Gate, an upcoming mixed-use project, is set to take over the old Keypoint building and turn it into a modern commercial and residential development that will tower over the other buildings in the surrounding areas.

The residential component’s 311 units, which come in various sizes, are each outfitted with branded appliances by Bosch, Gaggenau, Steinberg and DURAVIT. From one-bedroom apartments to dual-key units and penthouses, City Gate has an impressive variety of unit types and sizes to cater to a wide range of buyers and lifestyles. Furthermore, the project features facilities such as a teppanyaki grill, sky gym and yoga deck.

One of its top selling points is very likely its location in the heart of Beach Road, separated from Bugis by the eclectic and perpetually vibrant Kampong Glam, where popular haunts like Arab Street and Haji Lane are but a short walk away.

As for its City Gate’s commercial component, the Keypoint building will be refurbished into a contemporary shopping centre and will thus bring some much-needed modernity to this side of Beach Road.

Coco Palms
Pasir Ris Grove

Type: Condominium

Developer: CDL

Tenure: 99-year leasehold

Facilities: Swimming pool, gym, barbecue pits, hydrotherapy pool, recreational club, grand lagoon

Nearby Key Amenities: White Sands Shopping Centre, Downtown East, Elias Park Primary School, Meridian JC

Nearest Transport: Pasir Ris MRT

Average Indicative Price (psf): $1,023

TOP: 2019

Coco Palms is a massive upcoming development that boasts a whopping 944 residential units and six commercial units. It is a short walk from Pasir Ris MRT station, which is integrated with the bus interchange as well as White Sands Shopping Centre.

Its facilities have a strong resort theme, and include a hydrotherapy pool with massage jets, 50m lap pool, children’s play pool and saltwater pool.

Downtown East is about a 10- to 15-minute drive or bus ride away, and is the site of the closest cinema for residents of Coco Palms. At the same time, Tampines is merely one train stop from Pasir Ris, where there are two other cinemas (in Tampines Mall and Century Square) and three malls, and more recreational amenities abound.

Pasir Ris is gradually becoming more and more urbanised, so residents of Coco Palms will be among those who can experience phase and what its future will offer. As it is, there are an MRT station, bus interchange, shopping mall and plenty of primary and secondary schools, as well as one junior college, in the area.

The Vales
Anchorvale Crescent

Type: Executive condominium

Developer: SingHaYi Group

Tenure: 99-year leasehold

Facilities: Swimming pool, gym, barbecue pits, clubhouse, pool deck, tennis court, family pavilion

Nearby Key Amenities: Prime Supermarket, Compassvale Primary School, Springdale Primary School, Compass Point

Nearest Transport: Sengkang MRT, Cheng Lim LRT

Average Indicative Price (psf): $788

TOP: December 2018

Situated just behind Cheng Lim LRT station, and one stop from Sengkang LRT station on the west loop, The Vales is an upcoming 517-unit executive condominium (EC).

With units within nine 15-storey towers, the EC’s facilities include a spa pool, family dining area, clubhouse, jogging track and open communal court.

It is surrounded by several other residential developments, and with the LRT firmly in place, zipping around to visit malls like Compass Point or even Seletar Mall (the first mall in the northeast to have a cinema) is quick and convenient. It is also near Sengkang MRT on the Northeast Line, which connects directly to popular places like Chinatown, Little India and Dhoby Ghaut.

The Sengkang Hospital is due to be fully operational by 2020, which, in addition to the existing Seletar Aerospace Flyover and Seletar Regional Centre, is bound to provide plenty of new jobs for new residents in the near future.

There are also a few schools within walking distance from The Vales, such as Springdale Primary School and Compassvale Primary School.

 

UPCOMING TOP

The Venue Residences and Shoppes
4 Tai Thong Crescent

Type: Mixed development

Developer: CDL

Tenure: 99-year leasehold

Facilities: Infinity pool, yoga patio, origami boat sculpture, sky terrace, fern garden, alfresco dining

Nearby Key Amenities: The Venue Shoppes, hawker centres, St Andrew’s Junior College, Ascension Kindergarten

Nearest Transport: Potong Pasir MRT

Average Indicative Price (psf): $1,433

TOP: September 2017

The Venue Residences and Shoppes is one of three new developments along the stretch leading up to Potong Pasir MRT station.

Among the three aforementioned projects, it is the furthest from the station but closest to the PIE. And though the nearest shopping mall, NEX, is two train stops away in Serangoon, The Venue Residences will launch together with the Venue Shoppes, which is expected to have 23 F&B units and five retail units.

Further along Tai Thong Crescent are several hawker centres and small stores. There are amenities already established in the area, including a 7-11 at Potong Pasir MRT station and an Old Chang Kee across the road.

Nearby schools include St Andrew’s Secondary School, St Andrew’s Junior College, Cedar Girls Secondary School and the Stamford American International School.

Units at Venue Residences are also expected to be well-designed, with spacious kitchens and bedrooms. Unit types range from two- to four-bedroom apartments, and also include three-bedroom dual key units.

Credits: Propertyguru

 

 

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Posted by on in New Launches

A look at some of the developments shaping Singapore’s skyline.

RECENT LAUNCH

The Criterion
Yishun Street 51

Type: Executive condominium

Developer: City Developments Limited

Tenure: 99-year leasehold

Facilities: 50m lap pool, kids’ play zone, teppanyaki BBQ, microbubble spa, electric bicycles, solar charger

Nearby Key Amenities: Northpoint Shopping Centre, Yishun Park, Khoo Teck Puat Hospital, Orchid Country Club

Nearest Transport: Khatib MRT

Average Indicative Price (psf): $798

Estimated TOP: December 2018

The Criterion is a 505-unit executive condominium (EC) located along Yishun Street 51, which is a only three-minute drive from Khatib MRT. Units include two- to five-bedroom types and penthouses.

The development consists of 10 13-storey blocks. Some residents, such as owners of the three-bedroom units, can opt for flexi layouts. One of the bedrooms in a three-bedder can be modified into two smaller rooms, or to convert half of it into a walk-in wardrobe for the adjacent master bedroom.

The project is located in a relatively quiet part of Yishun, so privacy is a given. Wisteria Mall, slated to open in 2018, will be a five-minute walk away. Northpoint Shopping Centre and Yishun 10, which houses Golden Village Cinemas Yishun, are a five-minute drive away.

Schools in the vicinity include Naval Base Primary School, Northland Primary School, Northbrooks Secondary School, Chung Cheng High School (Yishun) and Yishun Junior College.

The Criterion is easily accessible via major expressways such as the SLE, CTE and TPE. CDL will be providing residents with a shuttle bus service to the nearest MRT stations in the first year.

 

The Brownstone
Canberra Drive

Type: Executive condominium

Developer: City Developments Limited

Tenure: 99-year leasehold

Facilities: Gym, 50m pool, tennis court, kids’ play zone with pool, junior skating rink, social gardens

Nearby Key Amenities: Sun Plaza, Sembawang Shopping Centre, Wellington Primary School, Canberra Park

Nearest Transport: Canberra MRT (upcoming)

Average Indicative Price (psf): $816

Estimated TOP: January 2019

The Brownstone is a 638-unit executive condominium consisting of two- to five-bedroom units.

Made up of eight 12-storey blocks, the project draws inspiration from the rustic charm of New York’s Brownstone row houses. It is located near the upcoming Canberra MRT station and fronts two of Sembawang’s main thoroughfares, Sembawang Road and Canberra Link.

Sembawang Shopping Centre and Sun Plaza are nearby and Jalan Legundi, an up-and-coming lifestyle enclave with many new cafés, is just a two-minute drive away.

Thanks to the government’s revitalisation plans for the North, residents at The Brownstone will have easier access to the future Seletar Aerospace Park, Yishun Community Hospital, Admiralty Medical Centre and Woodlands Integrated Healthcare Campus.

A Neighbourhood Centre containing a food court, supermarket and other shops right beside Canberra MRT station is also being built. In addition, the Sembawang and Seletar Country Clubs are within a 10-minute drive away.

Schools in the neighbourhood include Sembawang Primary School, Wellington Primary School, Sembawang Secondary School and Ahmad Ibrahim Secondary School.

The Brownstone is accessible via Yishun Avenue 2 and expressways such as the SLE and BKE.

 

Credits: Propertyguru

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A 99-year leasehold mixed-use site at Bukit Batok West Avenue 6 has been awarded to Qingjian Realty, the Urban Redevelopment Authority (URA) said on Monday, 30 May.

Launched for sale in March, the tender for the site attracted strong interest from developers, with 11 bids submitted by the close of tender on 24 May.

“The cut-back in land sales and the dearth in land parcels for sale in the area gave bidders additional reasons to bid for the land,” said Desmond Sim, Head of CBRE Research, Singapore and South East Asia.

Qingjian submitted the top bid of $301.16 million, which translates to about $635 psf per plot ratio for the 1.5ha site. This is the developer’s first mixed-use development in Singapore, and it expects to build about 500 condominium units.

“This location’s close proximity to the Jurong district, and the success of recent mixed development launches, are very positive indicators of the market’s likely reaction to a potential Qingjian development here,” said the firm’s General Manager, Li Jun.

The mainland Chinese developer has been aggressively buying up land for private development in recent weeks. Earlier this month, it announced that it had entered into a sales and purchase agreement with the residents at Shunfu Ville, at a collective price of $638 million.

 

Credits: Propertyguru

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Posted by on in New Launches

The VIP preview for Stars of Kovan, a new mixed-use development in District 19, will start this Saturday (7 May), said marketing agent CBRE.

Hong Kong-based Cheung Kong Property Holdings (CKPH) is developing the 99-year leasehold project, which comprises 390 apartments and five strata terrace units across four blocks.

The one- to three-bedroom apartments range in size from approximately 506 sq ft to 1,023 sq ft, while the strata terrace units are around 1,830 sq ft. CBRE is also marketing the 46 strata-titled commercial units on the ground floor, which have a British theme.

According to CBRE, the residential units will be priced between $1,550 psf to $1,600 psf. Specifically, the one-bedders will be priced from $800,000, while the two-bedders start from around $1.2 million. The three-bedders will cost about $1.5 million.

Located within a landed housing estate, Stars of Kovan is close to Kovan MRT station. Shopping malls such as Heartland Mall and NEX, as well as schools and business hubs, are also nearby.

Joseph Tan, CBRE’s Executive Director for Residential, said: “The market has a strong appetite for mixed developments. Quality projects near MRT stations within a mature estate are limited in supply and command a premium.”

The developer is also considering offering an early bird discount for the first batch of units being marketed for sale.

Credits: Propertyguru

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Two newly launched private residential projects reported brisk sales over the weekend, an indication that units within integrated developments remain popular despite the lacklustre housing market.

The Wisteria in Yishun sold more than 80 percent, or 116 of the 138 units released for sale.

Its developer Northern Resi initially launched 108 units on Saturday (12 March), priced from $1,030 psf to $1,050 psf on average. Subsequently, another 30 units were released due to keen interest for the smaller units, leading to more sales.

“Buyers are drawn to this project because of its affordability and its convenience of being above a lifestyle mall,” said Michael Leong, CEO of Keppel Land Retail Management, the project and marketing manager for The Wisteria.

The 99-year leasehold project features 216 condominium units spread across three nine-storey towers, built on top of a two-storey shopping mall. Prospective buyers can choose from one- to four-bedroom apartments, with unit sizes ranging from 441 sq ft to1,173 sq ft.

The Wisteria is expected to be completed by the end of 2018.

Meanwhile, CapitaLand’s 268-unit Cairnhill Nine development in the Orchard area has found buyers for 70 percent, or 134 of the 200 units launched on Saturday.

The 99-year leasehold condominium is part of an integrated development that includes a serviced residence called the Ascott Orchard Singapore.

The units sold include one, two, and four-bedroom units as well as penthouses, measuring between 591 sq ft and 3,864 sq ft. The one-bedroom+guest units have been the most well-received to date, with 80 percent of the 90 apartments sold.

Around 50 percent of the project’s buyers are Singaporeans, while the rest are from Indonesia, Malaysia and China.

Commenting, a spokesman from CapitaLand said: “We are pleased with the strong response to the VIP preview and official launch, and will be stepping up our marketing efforts by having roadshows in cities such as Jakarta, Surabaya, Solo, Shanghai and Hong Kong.”

Credits: Propertyguru

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As a sign of developers’ confidence in the growth potential of Yishun, a new mixed-use development comprising residential and commercial units will be launched on 12 March.

Located at Yishun Ring Road, The Wisteria and Wisteria Mall is the third mixed commercial and residential project to launch in the area since the end of 2013, following Nine Residences and North Park Residences, both of which are also integrated with shopping malls.

Zoned for commercial and residential use, the approximately 105,054 sq ft site was awarded for $185.09 million in January 2015.

Located on levels 4 to 12, The Wisteria condominium comprises three nine-storey towers of 216 one- to four-bedroom apartments, ranging in size from 441 sq ft to 1,173 sq ft.

The residential units will incorporate several smart-home features, enabling homeowners to remotely control door access and air-conditioning via a smart device.

Northern Resi and Northern Retail, wholly-owned companies of NorthernOne Development, are the project’s joint developers. Array Realty, an entity of Keppel Land, is acting as a consultant.

To be launched in phases, the first phase will see 50 percent of the condominiums (108 units) being released to buyers, a spokesperson for Array Realty told PropertyGuru.

“The units will have an initial average price of $1,030 psf to $1,050 psf, inclusive of a five percent early bird discount,” she said.

Sources told PropertyGuru that the project’s average price is around 20 percent lower than North Park Residences, where recent transactions have been in the range of $1,300 psf to $1,400 psf. Units at Nine Residences have gone for an average of $1,100 psf.

A VIP preview of The Wisteria will begin this weekend at the project’s showflat at the junction of Yishun Central and Yishun Avenue 9. “We will have a better gauge of buyers’ interest levels after the VIP preview. As for the actual prices, they will only be released on the day of sales booking,” noted the spokesperson.

In addition, the residential component will adopt the Prefabricated Pre-finished Volumetric Construction (PPVC) method, which helps to speed up construction significantly and minimize dust and noise pollution in the vicinity.

“This is one of the first projects in Singapore to use the prefab method,” the spokesperson said.

According to the Building and Construction Authority (BCA), this is a new construction method that involves modules complete with internal finishes, fixtures and fittings being manufactured in factories, then transported to the site for installation in a Lego-like manner.

Meanwhile, the commercial spaces are about 40 percent leased, the anchor tenants being NTUC Finest and Kopitiam Food Court.

“This is the only commercial project in Yishun South,” said the spokesperson, adding that it will help cater to the growing number of future residents.

The 99-year leasehold project is expected to obtain TOP in end-2018.

Credits: Propertyguru

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Its untapped potential is marvelous.

According OrangeTee, in line with the decentralisation strategy announced in Concept Plan 1991 to guard against congestion and over-development in the Central Business District and Marina Bay areas, Woodlands Regional Centre has become the fourth regional centre after Tampines Regional Centre in 1992 and Jurong Lake District and Paya Lebar Central in 2008.

Here's more from OrangeTee:

It will be another key growth area in the north of Singapore. Envisioned as Singapore's Northern Gateway, Woodlands Regional Centre will incorporate retail, business, residential and lifestyle elements into its two districts – Woodlands Central and Woodlands North Coast.

With over 100 ha of land available for expansion, Woodland will become a vibrant live-work-play precinct set in lush green northern waterfront over the next 10 to 15 years.

We saw vast untapped potential in Woodlands. Being the only regional centre with a coastal waterfront setting, residents in Woodlands can look forward to enjoying the stunning views of the Straits of Johor.

Woodlands has 700,000 m2 of new commercial space and more than 100 ha of development land; it will be well-connected to Malaysia via cross-border rail link.

It meets the needs of SMEs and business who can benefit from the proximity of a major transport node and great convenience with much lower costs than CBD area.

With new transportation network, fresh commercial space and room to grow, we believe that Woodlands Regional
Centre is set to realise its full potential as Singapore's Northern Gateway.

Credits: Singapore Business Review

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