The parcel of lands located at Jiak Kim Street as well as the Fourth Avenue tenders was officially closed on 5th Dec Tuesday. In reference to the Urban Redevelopment Authority, the former received a whopping S$955.4 million top bid with the latter getting the highest bid worth S$552.96 million. The Jiak Kim Street land parcel would be developed to the newly announced Riviere Condo by Frasers.
The segment of the land found at Jiak Kim Street which was formerly occupied by Zouk night club attracted a totaling 10 offers from well financial oiled bidders while the prime land sitting at the famous Fourth Avenue was eyed by seven bidders.
These two segments of lands located at Jiak Kim Street as well as the Fourth Avenue were on 19th Oct 2018 as well as 2nd Nov 2018 respectively officially launched for public tender which attracted so many developers eyeing to acquire them for future developments. They were all provided for a 99 years lease sale. Among the bidders was
The prime parcel of land at Jiak Kim Street was successfully acquired by Frasers Centerpoint Limited making it the highest land price ever achieved based on square foot for government land sales at its name would change to Riviere Condo.
All Green Properties emerged as the successful bidder of the lucrative piece of land located at Fourth Avenue. This developer also managed to secure a freehold piece of lands located at Royalville as well as the Crystal Tower. Currently, the developer has set all its eyes on acquiring a site located next to Bukit Timah.
Before tendering the sites located at the Jiak Kim Street as well as the Fourth Avenue, they were listed as the reserve lands by the Government in the Land Sales department which had made them not for sale.
Christine Li, a director of research at a famous real estate firm Cushman and Wakefield, said, there was a rife contest for the prime sites at Jiak Kim Street and the Fourth Avenue, with both locations having a set benchmark price.
The successful bidders are looking forward to the appreciation of the land’s value to almost to ten percent which may see them yield big from their future developments. With this in their minds, they have not missed the ladder since all market players are expecting a significant rise in land prices with over ten percent. If this will come to pass, they will have a big return on the investment.
Tay Huey Ying, who heads research and consultancy at the JLL real estate agency, says, the key aspect is that the local developers should make sure that they are acquiring all the key sites located at the central district and keep off foreigners from such as CSC Land from China as well as Kashings Japura Pte Limited which is a Hong Kong mogul from acquiring sites in these prime areas of Fourth Avenue and Jiak Kim Street.
On 29th September and 31st October, the two sites Jiak Kim Street and the Fourth Avenue sites respectively applications for sales were allowed to go on by the URA.
The tenders are to be awarded to the appropriate bidder once the evaluation process is through.
Riviere Condo by Frasers project details have been since announced on the official site – https://riviere-official.com.sg/
City Development Limited-CDL, in partnership with Hong Leong Holdings, has beaten their own record by unveiling yet another state of the art development dubbed Boulevard 88. The busy Orchard road, shopping centres, and other amenities make this a prime point of interest for astute homeowners and investors. Within reach are affluent restaurants, recreational centres and so much more on offer making this freehold establishment the new talk of the town.
Boulevard 88 is characterized by high-end furnishing and picturesque views over Tomlinson and Paterson areas. Divided into two blocks, this freehold establishment is said to have a total of 154 residential units occupying 28 storeys and a separate 8 storey hotel with a total of 208 rooms. The penthouse and condo apartments range from one bedroom up to five bedrooms with varying sizes and prices.
Setting themselves aside from other lucrative amenities are the Tanglin and Cuscaden and Nassim neighbourhoods. In Cuscaden, for instance, one will have a wide range of places to go for shopping. The Tanglin shopping Center and Forum is only three minutes away when walking on foot and other places like the Nolstagic Far East center and the Delfi Orchard Mall only based a stone throw away from this new upcoming establishment.
On the other hand, Boulevard 88 is strategically placed away from the hustle and bustle not forgetting the noisy traffic prevalent in towns but is close enough to all luxury areas. One such area is the Orchard neighbourhood where you can find anything from entertainment spots, restaurants, and recreational centres. St. Regis Residences, 3 Orchard by the Park, St. Regis Hotel and The Regent Singapore, are a few of the numerous prestigious establishment located close to Boulevard 88.
Owners and investors who want to be at the heart of everything will love the infrastructure surrounding this development, What with, Tanglin, Cuscaden, Orchard road, Anguilla park, Grange road, and Napier road crisscrossing and running parallel to each other, There’s nowhere you cannot get to even when you are pressed for time.
If you are still not convinced that Boulevard 88 is worth it as an investment, here are some points to help you make up your mind;
- Freehold means the property is yours forever
- The Orchard Boulevard MRT Station is currently in the works right around the corner
- Excellent connectivity with roads streaming right past the residences
- Presence of both international and local schools located nearby
- South Marina bay, Harbourfront, and CBD are just a few minutes away and is accessible by foot, MRT, or by car
- Affluent neighbourhood
- High-quality furnishings and fittings in all the residential spaces
City Development Limited-CDL and Hong Leong Holdings have merged to undertake the Boulevard 88 project. The two are real estate giants with a firm grip on the needs of modern living each with their own projects to boast. CDL was founded in 1963 and has gone on to build a name for itself in over 20 countries where the company has worked on various projects. CDL has provided hospitality solutions, management of hotels, facilities and numerous properties and engaged further in development and investment projects. On the other hand, Hong Leong holdings is part of the Hong Leong Group which was founded in 1968 and is a leading real estate company in Singapore. The company has developed close to 100 mid-level and high-end residential properties and an additional 8 commercial properties.
Find Out More From https://boulevard88condo.sg
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.
Details of the Tender
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;
- The winners, City development Ltd and CapitaLand who set their bid at $777.8 Million
- Perennial Singapore and Qingjian Realty who proposed a bid of close to $682 Million
- Singapore Press Holdings and Kajima Development who proposed their bid at $636.39 million
- 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.
Boulevard 88 by CDL is a freehold development by City Developments Limited (CDL) situated right in the middle of luxury and Orchard Road, one of the world’s most famous shopping streets. The site sits on the prime Orchard Road area that is located near to many shopping centres as well as amenities nearby. Boulevard 88 offers investors a prestigious address and a class that belongs only to the elite. The freehold development offers distinctive asset features that CDL offers to the owners of this prestigious development with views over the Orchard shopping district as well as the Tanglin cluster. An exclusive and upscale residential address awaits you at Boulevard 88.
Boulevard 88 is another freehold advancement found right in the core of the Orchard Shopping District by City Developments Limited. The site sits on the prime Orchard Road territory that is situated close to numerous strip malls and civilities close-by. Lane 88 offers financial specialists a renowned address and a class that has a place just with the first class. The freehold advancement offers particular resource includes that CDL offers to the proprietors of this lofty improvement with sees over the Orchard shopping region and the Tanglin bunch. A restrictive and upscale private address anticipates you at Boulevard 88.
Boulevard 88 has full and extraordinary offices, which incorporates a protect house, clubhouse, workroom, indoor rec center, tennis court, 50m swimming pool, sundeck, BBQ pits and youngsters’ play area. The apartment suite’s offices give full family amusement needs to your family and friends and family. Enjoy a peaceful and quiet way of life right in the core of Orchard.
Boulevard 88 Condo @ Orchard Boulevard is likewise deliberately situated with numerous strip malls situated around in the region alongside this Orchard center downtown area apartment suite. For instance, the well known Forum The Shopping Mall, Far East Shopping Center and Ion Orchard are situated close to Boulevard 88. Boulevard 88 Freehold Condo is additionally situated close to Singapore Botanic Gardens where a lot of outside families are accessible for occupants to invest some quality energy with their family.
Boulevard 88 Mix Development with Residential Units and Hotel Rooms (Boulevard 88 Prices Releasing Soon!)
A portion of the strip malls situated close to Boulevard 88 Mix Development area incorporate Tanglin Shopping Center and Forum The Shopping Mall which is under 200m away. Other Shopping Malls situated close to Boulevard 88 incorporate Delfi Orchard and Far East Shopping Center. Boulevard 88 freehold apartment suite which is created by Granmil Holdings Pte Ltd (Joint Venture by Hong Leong Holdings, City Developments Limited CDL, and Lea Investments) is a genuine blend advancement that comprises of a private part and additionally a lodging segment. The inn part comprises of 208 lodging rooms and there are 2 Blocks of 28 stories condo loft which make up the 154 private units accessible at Boulevard 88.
The advancement is together created by Granmil Holdings Pte Ltd (Joint Venture by Hong Leong Holdings, City Developments Limited CDL, and Lea Investments).
CDL City Developments Limited is one of the best names in the land with regards to being an indiscriminate and various organization managing in a land like business shops, private pads and modern destinations. City Developments Limited is an easily recognized name in Singapore that guarantees to convey remarkable quality land advancements and has been in Singapore for a long time.
City Developments Limited additionally offers available to be purchased/rent in a significant number of the notable improvements in Singapore. The dominant part of their postings is situated in Singapore. A portion of the notable improvements incorporates New Futura, Twin Towers, Cliveden at Grange and Coco Palms.
City Developments designer land in Singapore as well as in different nations, for example, Australia, China, Japan, and the UK.
Store administration is likewise part of City Developments Limited. City Developments Limited is likewise adjusted at better and productive resource administration framework which additionally weaves their advantage an incentive as Singapore’s headland engineer.
Hong Leong Holdings is Singapore’s set up designer that being a land improvement as a private holding organization in 1968. It is one of the pioneers in Singapore land and has since changed into the mainland designer with family marking over the city-state. Hong Leong Holdings land improvements have dependably been held in high respects because of the persistence seek after of value and confirmation by the designer. Hong Leong Holdings tries to pick up a piece of the overall industry by offering best in class plans and also create new answers for accomplishing an economic market and plan of action.
Hong Leong Holdings trust that Human Resources is the key capital and asset and tries to utilize the best possibility for every part which is essential to the general accomplishment of the organization. Through strategic cooperations with other land designers, Hong Leong Holdings can gain by the land market and look for an incentive for its partners and investors. Specifically, Boulevard 88 is an organization between Hong Leong Holdings and City Developments Limited (CDL).
Plantation Road is a retail heaven for each customer. Arranged along a 2-kilometer shopping-belt, this popular retail focus in Asia houses your most loved inns, eateries, pro stores and design outlets notwithstanding an extensive variety of different way of life decisions. Regardless of whether you are a prepared customer or a first-time guest, Orchard Road is the place to kick-begin an astonishing retail understanding.
Time has essentially changed this shopping road. Investigating 150 years prior, this place was basically a little path which was fixed with plantations, pepper homesteads, and nutmeg estates. Its unassuming causes started to change in the 1850s as individuals moved in and selling focuses, a clothing bowl, wet markets, sanctuaries among different conveniences were built up. Toward the beginning of the twentieth century, the main grocery store in Singapore was opened in Orchard Road. The region kept on creating and when it achieved 1970, vast shopping centers, playing back road, and films had been produced and the notoriety of Orchard Road as a famous diversion center expanded altogether.
Today, this road is flanked with eminent lodgings, eateries, shopping centers, celebrations, and occasions. Plantation Road is home to worldwide form stores and also ethnic enclaves which contain different social memorabilia. Regardless of whether you are searching for homeware, garments, keepsakes, adornments, shoes and so forth you will discover all these at the shopping centers and the retail outlets. You can take your pick from City Square Mall, the bug markets, Club 21, House of Tang, Westgate or Pedder on Scotts.
At Wheelock put, there is head of inhabitant’s choices which among them incorporate the crowded and exceptionally acclaimed mark names in Singapore, for example, Mark and Spencer, Shinagawa Lasik Center, Clarins Skin Spa and also Sun with Moon Japanese Café and Dining focus and Epicenter which is an Apple Premium Reseller.
It is take note of that in a rising land condition, freehold apartment suites at the central downtown area possibly a superior decision as it brings a higher cost amid an enbloc cycle. This is on the grounds that freehold apartment suites are not influenced by the rent time frame as it runs out for a long time leasehold improvement which prompt value diminishes. Freehold advancements hold its esteem better and in view of the land request, 99 years leasehold improvement have a tendency to have costs drops at around the 78 and multi-year point. Likewise, most banks have advance limitations for a long time leasehold improvement at the multi-year point and make financing troublesome for these properties. Thus, freehold properties, particularly in the prime zones, hold their esteem better.
Boulevard 88 will be available with Orchard MRT Station and additionally Orchard Boulevard MRT Station on the Thomson-East Coast Line. Additionally, for proprietors who are taking transports close to the area of Boulevard 88 apartment suite, there are a few means of transport accessible along Orchard Boulevard and also Tanglin Road. For proprietors who are setting out to the Central Business District, Boulevard 88 is found appropriate by Central Expressway (CTE).
Up and coming Orchard Boulevard MRT Station
Boulevard 88 joins other prime living arrangements situated around Boulevard MRT Station, for example, Cuscaden Residences and Anguilia Park Residences as one of Singapore’s most renowned deliver alongside Orchard Boulevard MRT Station. The area of Boulevard 88 holds regard and is unmistakable about the most upscale advancements in Singapore. The area is likewise minutes from up and coming Orchard Boulevard MRT Station(TE13) on the Thomson-East Coast Line.
Boulevard 88 is likewise close first-class schools, for example, River Valley Primary School and Raffles Girls Secondary School. Boulevard 88 speaks to a genuine blend improvement right in the core of the city where there are a lot of strip malls and instructive schools including a cosmopolitan way of life for the prosperous person. An esteemed address in the core of Orchard sparkles in this fresh out of the plastic new improvement by City Development Limited.
City improvements constrained is a noteworthy world land firm with a system spreading to hundred areas in twenty-eight nations and districts. The organization is recorded in Singapore’s trade and its one of the greatest firms by showcase capitalization. Its different geographic portfolio and wage incorporate workplaces, homes, shopping centers, benefit lofts, lodgings and coordinated condos. With a great reputation of more than fifty years in land speculations, improvement, and administration, the organization has created more than forty thousand homes. Its extended land gives a vigorous development pipeline in Singapore and in addition basic markets of Japan, China, Australia, and the UK. That said here is a portion of the company’s private properties available to be purchased.
New Futura prized venture at District 10was portrayed by Owings and Skidmore, world-well known compositional firms. The broad bands of this property swathe gorgeously by City Developments Limited. CDL New Futura is a freehold venture that is a thirty-six storied building and is situated in trustworthy area 9. The property is a couple of minutes’ drive to Marina Bay and the CBD monetary region. The building isn’t simply a trophy settlement yet, in addition, a crown masterpiece in a family unit portfolio.
Nouvel 18 is an announcement of biodiversity and modernization. With a hundred and fifty-six exquisite units, Nouvel 18 tower thirty-six storied advancement is a generous stylish shape that moves existence with nature by City Developments Limited. To produce a voice that catches the city the building shows a system of vertical foliage between a great facing. Expertly mien of tones of glass at Nouvel 18 Condo makes a consistently changing palette from each unique point.
Gramercy Park Condo is arranged in a merited zone between magnificent class homes and international safe havens. It was composed by a standout amongst the most all-inclusive creative building organization called NBBJ. It has two towers that give vision of innovation where outrageous accuracy, unadulterated geometry, and symmetry are the request of the day. Gramercy Park Condo building shapes a notorious impression.
The building is found adjacent the plantation street with exquisite parlors, and in vogue boutiques close by renowned designer CDL. Additionally, there are eating and shopping spots at marina straight sands and a five-star stimulation region. Unmistakable created spaces around Cliveden at Grange settlement will set you in the soul for a unique gathering, private treatment sessions or spa spoiling.
The One Shenton property was outlined by a well-known modeler by the name Carlos Ott. This building is a perfect work of art that outperforms the custom. It has two lovely towers of fifty and forty-three story that ascents over an effortless platform. On the towers are grand metal figures and glass. This private property is one place where you can live, work, and your youngsters play.
There are numerous strip malls situated close to Boulevard 88 as it is found right in the core of Orchard Shopping District. The malls are area only a couple of minutes leave the advancement which gets included comfort for the inhabitants.
Perceived by Forbes as one of the best shopping center improvements in Singapore, the ION Orchard is genuinely a lovely bit of design. In task since mid-2009it’s turned into a historic point in the Singapore horizon. The ION Orchard improvement is a blend of retail and private space, worked over the over the Orchard MRT station on the site of an old stop. Particle Orchard is arranged at the vital of Singapore’s shopping and business territory. It takes up to 66,000 square meters of room and contains eight levels of the carefully arranged floor. Other than being an eye-catching perspective, ION plantation takes incredible pride in joining world-class brands. It contains 300 retail, stimulation, and diners. All pressed under one advancement.
Tang Plaza’s offer is introduced by a one of a kind and different blend of universal and Singaporean brands. Regardless of the financial plan or style, anybody can discover something that suits him/her. People will be charmed by the offer of garments, shoes, satchels, and extras. Children are a long way from disregarded. Despite what might be expected! From the child mind, tops, auto seats, attire, dental care, shoes, to adapting, delicate toys, sports, and open air, everything is in one office.
Gathering The Shopping Mall is a standout amongst the most well-known shopping centers in Singapore. It’s a negligible 5-minute leave Orchard MRT station. It is inside for various extravagance and high road brands and furthermore has an entertainment mecca and an immense sustenance court. When you are getting exhausted and need to purchase something new, need to unwind, need to do some pleasure then the best goal ever is Forum The Shopping Mall. It makes you engaged and loose.
Situated at Orchard Road, the prime area makes it an amalgamation of human services and friendliness. Barely any means from Boulevard 88, there lies shopping and vacationer goal where you can shop the acclaimed and extravagance brands of the world and furthermore taste the scrumptious indulgences of various cooking styles.
Paragon Medical is a therapeutic focus-resolved to offer social insurance offices whether for general issues or particular maladies. Paragon Medical is an agreeable place where you can counsel with the specialist with no wavering.
The specialists at Paragon Medical are authorities in their individual fields and know how to candidly elevate a patient who is experiencing groundbreaking medicinal intricacies. We have been giving therapeutic administrations to families and partnerships in Singapore for a long time. Masters, general specialists and the therapeutic staff is prepared in a patient-focused climate and have the learning of how to manage a patient of each age. The restorative Officers guarantee that comprehensive prosperity of each patient is dealt with
Mount Elizabeth Group of Hospitals is serving Asia-Pacific for more than 30 years. It is the main medicinal and social insurance office supplier whose establishment is unequivocally based upon its patients’ trust. At Mount Elizabeth, we amalgamate master counsel of therapeutic specialists with most recent innovation so the entirety of your medicinal entanglements can be understood. Situated in the core of Singapore, patients can without much of a stretch achieve both the healing centers of the gathering, Mount Elizabeth Hospital, and Mount Elizabeth Novena Hospital.
An awesome and interesting way of life anticipates you at Boulevard 88 right in the core of Orchard City Center. If you don’t mind see Boulevard 88 site and floor plan gets ready for more information.
Extracted from: https://boulevard88condo.sg
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.
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.
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.
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!
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.
- 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.
- 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.
“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.
This news update is written and submitted by Gary Lee, owner of margaretville.sg. Gary is an expert and experienced realtor who knows the Singapore market in and out. He specializes in HDB and Condominiums investing.