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House Hunting…in Serangoon North (Affinity At Serangoon)

Affinity at Serangoon @ Serangoon North Estate and Serangoon Gardens (Formerly Serangoon Ville, Enbloc)

Affinity at Serangoon, an upcoming residential area at Serangoon North, located in the northeastern part of Singapore was successfully acquired by Oxley Holdings for S$499 million. (See: Former HUDC estate Serangoon Ville sold en bloc for $499 million) The old Serangoon Ville enbloc is a 244 unit development features three blocks of 13-storey and four blocks of four-storey walk-up apartments.

The Oxley-led CONSORTIUM includes Oxley that takes up a 40 percent stake in the consortium; the balance is equally split among Lian Beng Group, Unique Invesco Pte Ltd and Apricot Capital. Unique Invesco is a 37.5 percent indirect associate of KSH Holdings; Apricot is the private investment firm of Super Group’s Teo family. The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.

Oxley Holdings Limited

Information on Enbloc of Serangoon Ville that will transform into Affinity at Serangoon.

In July 25th, 2017, the tender was closed and a total of 5 competitive bids were received with prices well above the owners’ asking price. More than 80 percent of the owners agreed for an en bloc sale, which resulted in the property to put up for sale. After the sale is completed successfully, and conditions met, each owner will receive about S$2 million for their property. As usual, before the project launch announcement, it has to undergo some pending government paperwork and clearance from the authorities for a full go-ahead. As of now, Oxley Holdings has officially announced the name to be Affinity @ Serangoon. This new Condo launch in Singapore is expected to build great hype and excitement since it is located in a premium matured estate.

Since the CONSORTIUM leading this project is a major player in the industry, there is hardly an occasion when an obstacle has stopped or delayed a project as massive as this. Affinity @ Serangoon will be built with the family in mind and will consist of approximately 1052 units, with strata landed and 5 commercial shops. Featuring units with a variety of 1br to family-sized units, most of the units will be north-south facing and enjoy convenience and amenities in Serangoon North mature estate.

According to sources, this new development of the Affinity @ Serangoon condo is calculated to feature a land rate of $835 per sq ft per plot ratio. Oxley has been famous for developing luxurious condos and units for residential purposes and it is highly likely that this project will also be fully developed for a luxurious unit, resembling most of Oxley’s significant projects.

Short History of Serangoon North Estate where Affinity at Serangoon is located.

Nex Shopping Centre

Serangoon Gardens was formerly a residential estate for the British (and some Australian and New Zealand) soldiers and airmen, where some of them were based in the nearby RAF (Royal Air Force) Chia Keng Camp, until the early seventies.

The name Serangoon is likely to be derived from burong ranggoon, referring to a species of black and white stork that lives around Sungei Serangoon (formerly called Rangoon River). Satu, or one in Malay, was added to the name, thus becoming Saranggoon. This name was used for a long period of time before it eventually evolved to Serangoon. During the Japanese Occupation, large plots of flower farms were cultivated in this region, leading to the naming of the estate as Serangoon Gardens.

URA Masterplan For Developing Serangoon Where Affinity at Serangoon is

The site is within URA’s Serangoon Planning area. Comparative developments in the area include Kensington Park, Affinity @ Serangoon by Oxley Holdings. Slightly further to the East will be Terrasse. There has been a drought for new condominium launches in the estate and so Affinity @ Serangoon will together with Keppel and Wingtai The Garden Residences will rejuvenate and revitalise the entire area and neighbourhood, the value of the estate will be raised and tremendous amounts of activities and vitality will be injected into the estate.

URA Masterplan Serangoon

Important Breakdown and Preview of Affinity at Serangoon

Let’s look at the compelling reasons to select Affinity @ Serangoon as your investment property and choice. Our developer team has a breakdown and you may refer to Affinity at Serangoon Prices here.

  • Good Roads and Transport Connectivity
  • Nearby Good Local and International School
  • Centralized Location and Minutes to Town, Harbourfront, Central Business District and also South Marina Bay
  • Near to Amenities such as NEX and Food Haunts such as Chomp Chomp Food Centre.
  • Strong Tenant Base with expected expatriate demand from Lycee Francais de Singapour
  • Strong Tenant Base from Surrounding Business Parks such as Amk Industrial Park and Serangoon North Industrial Estate
  • Great for Families looking for a home near good schools and strong amenities
  • Luxurious Living and Fittings

Hype and Launch of Affinity at Serangoon: What’s Next?

Since the official launch of Development name, Affinity @ Serangoon was just announced on 15th May 2018, we expect a hype build up as we continue to provide the latest news and updates. More importantly, the E-brochures, floor plans, and site plan will be crucial to determining the value of this Condominium at Serangoon North.

It is important to note that former HUDC estates, which tend to be huge under-built swathes of land, have featured strongly in this year’s list of awarded collective sales, with successful developers hoping to intensify the number of units by three to five times the existing capacity. This includes estates like Affinity @ Serangoon, and Riverfront Residence (formerly Rio Casa Enbloc).

If you would like to follow up on the updates of Affinity @ Serangoon, we highly recommend that you refer to the official site source here: https://affinityatserangoonville.sg. Early preview usually means you get access to early information that can help with decision making on the purchase of Condominiums in Singapore. Subsequently, you should base your decision on the floor plan layout and sizes – PSFs are important but the layout is equally important, so be sure to make informed decisions and do your due diligence before any purchase!

By | 2018-05-13T20:28:19+00:00 May 13th, 2018|Press Release, Real Estate|0 Comments

House Hunting … in Serangoon Road (Jui Residences)

Jui Residences is the latest development by SDB Singapore, Selangor Dredging Berhad (SDB). Located at 1177 Serangoon Road, it is situated in an established HDB estate with plenty of new developments, including minutes drive to Paya Lebar Hub, and a majestic water view of Sungei Kallang.

The condo land parcel at Jui Residences received a top offer of S$47m for the 31,705 sqft land plot of former building – National Aerated Water Company. SDB will work with Singapore in the conversation of nearby heritage buildings, and this residential estate will be one of the prime city fringe development.

SDB International

The project is officially announced at the end of 2017 with indicative prices expected to be released after CNY 2018. For starters, one may refer to the following Serangoon Masterplan by URA to get an idea of the estate Jui Residences Condo is developed in.

URA Serangoon Masterplan for Jui Residences

The building will be worked by Selangar Dredging Berhad to be transformed in a “unique and lively commercial area”, said Mr The Lip Kim, the managing director of SDB, and it lies next to a park connector. There will not be a fence along the main road and river, meaning that it will welcomed the public for a close up look and personal with this heritage gem.

Source: Jui Residences Condo Project Details

Jui Residences – Own a piece of Heritage

National Aerated Water Company is a Heritage Site that is a landmark with a rich history and is part of the whole DNA of this district. Kallang used to be industrial, and full of brickmaking kilns and sawmills. The now-famous St James Power Station was also in the national monument industrial heritage along with Kallang Airport and also Fort Factory.

With the commercial development in the area, here’s what we can expect Jui Residences Condo to entail:

The price psf will only be released after CNY 2018. Do register early with the Jui Residences Official Developer Team to keep updated with the latest news. For now, we are certain there will be at least 1 to family bedroom options, with a total of 1177 units. The estimated psf will be aligned with surrounding Condominiums to keep it competitive by SDB.

Here are the top 6 reasons why we expect the prices of Jui Residences to be competitive (and investment worthy!):

  • Own a piece of Heritage on this development
  • Near Prestigious Schools and Education Hub
  • Well connected via Expressway at Doorstep and Serangoon Road
  • Plenty of Amenities in Mature Estate
  • Freehold Property
  • Proven Track Record and Quality Fittings by Selangor Dredging Berhad

Jui Residences – Site Location Details

Location Map and Surrounding Amenities

Jui Residences Location Map

Jui Residences Condo will be beside Potong Pasir MRT. Residents will find transportation convenient and minutes to shopping malls like The Venue Shoppes, as well as local wet market Boon Keng Market. Here are some amenities that will be situated closeby: Kallang Community Club, Potong Pasir Town and Market, and The Poiz Centre.

Education wise, Potong Pasir & Serangoon is known for the variety and strength of the education facilities and options. There is Bendemeer Primary and Secondary School, St Andrew’s Primary and Secondary, as well as St Andrew Junior College (SAJC). This covers a wide array of education options for a child from teenage to adult.

Register for Early Preview for Jui Residences Singapore

URA’s CEO Mr Lim Eng Hwee said: “This building is not only historically significant as a familiar landmark along the Kallang River, it also holds fond memories for Singaporeans for the popular soft drinks it produced from the 1950s to 1990s”

Source: https://juiresidences-official.sg/jui-residences-condo-reconstructing-national-aerated-water-company-private-estate/

By | 2018-04-19T18:02:28+00:00 April 19th, 2018|Business Support, Real Estate|0 Comments

House Hunting in … Margaret Drive

According to the Urban Redevelopment Authority of Singapore, only 377 private homes were sold and transacted (excluding executive condominiums) in February. Analysts indicate that the drop in 28% drop in sales, from the 524 units sold in January, was attributed to the Chinese New Year festivities where developers held back their launches. The lack of inventory and supply for real estate private homes thus resulted in a drop in the hype and build up for potential purchase.

Ms Tan Siew May, a potential home-owner and buyer in the first quarter of 2018, spoke out to us that she is “waiting for an upcoming launch Margaret Ville in Queenstown before looking at other areas”. It seems that many buyers are waiting out this dull season before proceeding to dive into the property market, especially when most showrooms are currently unavailable.

In fact, there were only two new launches.

  1. Parksuites, a 119-unit project by Far East Organization in Holland Grove, soft-launched 50 units and sold three at a median price of S$2,215 psf.
  2. Nim Collection, a 99-year leasehold landed development, launched 26 units and sold three units as well, at a median price of S$1,661 psf.

Making a comparison with past year, Ong Teck Hui, national director of research & consultancy at JLL,  said Feb 2018’s figures were actually comparable to those in January 2017 – the Chinese New Year month last year. with some 108 units launched and 382 units sold then.

Huttons Asia - New Home Sales in Feb

“So the low-key performance in February is not indicative of a market slowdown,” he added. “Notwithstanding the festive period in February and the dearth of new launches, buyers were still house-hunting among previously launched projects, resulting in sales from these accounting for 98.4 per cent of total new private home sales during the month. This is indicative of ongoing interest among home buyers.”

Developers are not sitting back this period either. It was noted that the average psf for previously launched projects have rose, and they are expected to continue to time their launches to benefit from a further recovery in residential prices.

For example, median prices at Kingsford Waterbay at in Upper Serangoon have increased from S$1,111 psf in March 2015 to S$1,349 psf in Feb 2018. Grandeur Park Residences near Tanah Merah MRT has also seen its median price rise from S$1,406 psf at launch in March 2017 to S$1,487 psf in Feb 2018, as it reaches its 90-per-cent sold mark.

Year-on-year, sales suffered a 61.5% drop from the 979 units sold in Feb 2017. This is mainly due to the lack of ECs as there will only be two EC launches combined in both 2018 and 2019.

This also means the depleted supply was part of the main cause of the drastic fall in sales.

It is noteworthy to observe that the recent EC – Hundred Palms Residences that is situated at Yio Chu Kang Road, faced a high demand as the 531 units were sold out just under 7 hours last year. Excluding Rivercove Residences which is yet to be launched, there were only 212 unsold EC units in projects under marketing. This is only a small fraction of the 2,514 unsold EC units being marketed one year ago.

Analysts expect home buyers and upgraders to move quickly to purchase existing stocks of available EC units especially before prices start to increase, as anticipated to after the government sold the Sumang Walk EC site to a City Developments joint venture at a record land price of S$583 psf per plot ratio, which could translate to a break-even cost of close to $1,000 psf for its completed units.

If the market sentiment continues to remain sanguine through the year, the primary market sales could range between 11,000 and 14,000 private housing units in 2018.

 

By | 2018-04-19T18:01:00+00:00 April 19th, 2018|Press Release, Real Estate|0 Comments

20,000 training places to be added with S$145m TeSA (Tech Skills Acceleration) Investment, says Government

An extra 20,000 preparing spots will be made because of the extension in the Tech Skills Accelerator (TeSA) program, and the preparation will be longer and more focused than the underlying tranche of 27,000 preparing places officially taken up, as per Minister for Communications and Information Yaacob Ibrahim.

Talking at his service’s Committee of Supply wrangles on Tuesday (Mar 6), Dr Yaacob said the 20,000 spots will be made by 2020, because of the extra S$145 million interest in TeSA declared amid the current year’s Budget discourse.

The underlying preparing places presented from April 2016 were shorter and more chomp measured in its substance, while the most recent courses will be longer and more focused with the projects used to help abilities advancement in “boondocks” innovation territories like computerized reasoning, information investigation, cybersecurity, Internet of Things (IoT) and immersive media.

Fund Minister Heng Swee Keat had said in his Budget discourse that TeSA will venture into new segments like assembling and expert administrations where computerized advances are progressively vital.

LEG-UP FOR MID-CAREER ICT PMETS

Senior Minister of State for Communications and Information Janil Puthucheary likewise said in his parliamentary discourse on Tuesday that the service is taking to ensure there is bolster for mid-vocation working experts to be prepared for innovative changes given that every single key part are experiencing advanced change.

“TeSA programs have been profiting mid-vocation experts. Since 2016, roughly 10,000 TeSA preparing places have been taken up by those over the age of 40,” said Dr Puthucheary. “TeSA will accomplish more to help more mid-profession ICT PMETs.”

There will be a two dimensional way to deal with accomplish this current: TeSA’s incorporated vocation administrations and cross-segment work curation and retraining, the Ministry of Communications and Information (MCI) explained in its official statement.

For the previous, it is a help biological system ICT experts can tap on to get profession direction and tutoring, and better occupation coordinating. Banding together associations incorporate the National Trades Union Congress (NTUC), Singapore Computer Society, Workforce Singapore, Employment and Employability Institute and SGTech (once in the past known as the Singapore Infocomm Technology Federation).

As far as cross-segment work curation and retraining, MCI said ICT employment opportunities exist crosswise over numerous industry parts yet specialists might not have the systems or aptitudes to travel into different segments.

To encourage these developments, endeavors, for example, working with government bodies like the Ministry of Education (MOE) to recognize employments that ICT experts can be put into – ICT partners with MOE schools, for example – will be done. The service will likewise work with industry accomplices by means of the Infocommunications Media Development Authority of Singapore’s (IMDA) SME Go Digital program to minister parts, it included.

These activities come even as Dr Yaacob had called attention to that the interest for ICT experts in Singapore is required to develop. Amid the dispatch of the Skills Framework for Infocomm Technology in November a year ago, the priest said in excess of 42,000 ICT experts will be popular throughout the following three years.

He additionally noted then that the TeSA activity had empowered in excess of 16,000 ICT experts to be prepared in new tech aptitudes and set them up for the computerized economy.

Original Source: Channel News Asia

By | 2018-03-06T21:08:46+00:00 March 6th, 2018|Careeer Singapore, Press Release|0 Comments