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Winning Tender for the Commercial and Residential site at Sengkang Central (GLS)

Breaking recent news is an announcement by the Urban Redevelopment Authority-URA that two companies have been awarded the tender for a commercial and residential site at Sengkang Central, Singapore. The two, City Developments Ltd-CDL and CapitaLand managed to beat their other two shortlisted counterparts to bag the winning bid prized at $777.8 Million which translates to $923.6 per square foot per plot ratio- (psf ppr). These companies are now gearing to set base on the 3.7 hectares of land which holds the title for the largest commercial and residential tender ever won since 2015.

 

Background history of the winning tenderers

 

The City developments Ltd was founded on September 7th, 1963 and in 1965 the company finished its first 200 housing unit project. From then on, the company continues to break new boundaries in its quest to acquire, develop and sell property.

 

On the other hand, one of Singapore’s most profound development companies is CapitaLand. With an unbeaten record and enviable portfolio, CapitaLand has built, serviced apartments, malls, homes, and offices spread across 150 cities in over 30 countries throughout the world. The company’s main works can be seen mainly in China and Singapore and slowly exploring other prime areas like Vietnam and Indonesia.

 

This joint venture aims at developing the awarded land into a one-stop shop with a total of 700 apartments, retail shops, hawker center, childcare areas, public rail and bus stop, and three floors housing the community club. The two companies intend to have this mega project completed by 2022.

SengKang CC

Tender details

 

The Sengkang Central tender project was unveiled on December 28th, 2017 and later closed June 21st, 2018. Seven concept proposals were forwarded by six companies with one of the companies forwarding two concept proposals. All participants were asked to present their tender prices in one envelope and the concept proposal in a different envelope.

 

At the shortlisting stage, the envelopes of the four successful contenders bearing the tender prices were opened. Thereafter the tenderer with the highest bid was awarded the rights to work on the project in question.

 

The project is considered prime owing to its favorable proximity to other Major sites in Singapore. For instance, the proposed community project will be located only 20 minutes away from the Central business district if you are driving and 25 minutes from the Dhoby Ghaut MRT Station.

 

Details regarding Concept Proposals

 

The Concept Evaluation Committee-CEC gave all six companies a chance to present their tenders before them. Thereafter, the CEC concluded that only four proposals were viable and were in line with all the requirements. The four shortlisted candidates included;

 

  1. The winners, City development Ltd and CapitaLand who set their bid at $777.8 Million
  2. Perennial Singapore and Qingjian Realty who proposed a bid of close to $682 Million
  3. Singapore Press Holdings and Kajima Development who proposed their bid at $636.39 million
  4. Wing Tai Holdings and Keppel Land bidding at $608.9 Million

 

In their proposals, the successful tenderers carefully demonstrated their building designs and layouts. They explained further how they would effectively cater to a large number of people who would regularly frequent the place. The winning proposal provided commendable solutions such as beautiful landscapes, pedestrian-friendly areas which would prove necessary in public places on the ground and first floors. They included well-designed spaces aimed at holding events and other types of gatherings.

 

Brief History of Sengkang

 

Sengkang Central was originally a fishing village known as Kangkar. In the mid-20th century, Sengkang was covered in numerous pepper, rubber and pineapple plantations. It was until 1994 when efforts began to turn the small town into a largely residential area. It was therefore divided into seven subzones which continue to undergo development to date. The first apartment building commonly known as a flat was built in 1997 in the Riverdale subzone. Now, there are numerous flats with over 65, 981 housing units in the whole of Sengkang. In a bid to turn it into a residential town, the Housing Development Board continues to approve numerous projects. Sengkang is located on the Northeast parts of Singapore and sits on prime fertile land, what with river Sungei Punggol and river Sungei Serragon, SengKang boasts of beautiful landscapes and vast greenery. The town has a population of over 232,100 people and sits on 22,000 Kilometers of land. The small town has a robust transport system that features private means, bus and the most preferred is the modern rail transport system.

By | 2018-09-04T19:07:18+00:00 September 4th, 2018|Press Release, Real Estate|0 Comments

Park Colonial Condo at Woodleigh Lane OUT NOW

This new apartment developed as Park Colonial is situated at Woodleigh path will have one to five-room unit design arrangement. The whole square will have a couple of various facings where the front faces the Woodleigh MRT station and the back appearances the Woodleigh stop where the low-ascent landed property is arranged.

Inhabitants possessing the higher floors will have the capacity to appreciate the unhampered view in the prompt surroundings, for example, the greenery stop over the road. The draft site design of the recreation centre frontier apartment suite includes a full suite of brilliant offices for all the living occupants. It incorporates any semblance of swimming pool, kids pool, jacuzzi, clubhouse, workroom, flame broil pits, open-air exercise centre and also topical patio nurseries.

It gives an amazing lifestyle for every one of the inhabitants, notwithstanding when the improvement lies in the focal point of bidadari new towns and being ideal alongside Woodleigh MRT station. We are sure that future proprietors will have the capacity to value the unblocked beautiful perspectives from both neighbouring landed properties and the legacy walk which is over the road.

Should you feel lethargic to fly out and might want to have a social event with your companions, this stop provincial condominium will have you secured with all the prepared offices for your night party.

Bidadari URA Plan

Park Colonial by CEL Development Unique

A standout amongst the most discusses site as of late will soon be clearing a path for this townhouse development at Woodleigh path. It was sold to CEL Development Unique and will be created by Chip Eng Seng, Heeton Holdings and KSH Holdings.

Park Colonial at Woodleigh will unquestionably be the diamond inside the new bidadari new town when it is deliberately found ideal alongside the exceedingly looked for after Woodleigh underground railroad station.

Because of the to a great degree alluring area the site offers, it extraordinarily benefits the inhabitants of stop provincial when the real transport organize is arranged comfortable doorstep. Furnishing you with a consistent and effortless progress to and from work amid the morning as night surge hour.

By being a piece of the developing bidadari new town, stop frontier is inside toa payoh arranging region. A focal locale regularly touted as the following bishan put. You would be shocked and flabbergasted by the exponential potential this place has when the trip unfurls nearby you as you age effortlessly.

Schools around Park Colonial

Not to stress in the event that you think there will be a lack of schools in this new developing town as there are top schools situated inside the region, for example, Stamford American Intl School, Cedar Primary, Cedar Girls’ Secondary, St. Andrew’s Junior, St. Andrew’s Secondary, St. Andrew’s Junior College, Maris Stella High School (Primary and Secondary) for you to filter out when the ideal opportunity for enrolment enrollment comes.

Find Out More: https://parkcolonial-official.sg

By | 2018-09-04T19:07:52+00:00 June 13th, 2018|Press Release, Real Estate|0 Comments

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