7 upcoming projects to look out for in 2017
A slew of new residential projects are set to launch next year, and are expected to attract keen interest from home buyers. Some sites to watch out for are:
1) Siglap Road
Seaside Residences, the 1.93ha site at Siglap Road was awarded to a consortium led by Frasers Centrepoint for $624.18 million in January 2016. The price works out to about $858 psf per plot ratio. Nearby amenities include the future Siglap MRT station, shopping malls and schools. The 99-year leasehold site is expected to yield about 840 units.
2) New Upper Changi Road
Grandeur Park Residences, a property developer Chip Eng Seng won the tender for the 2.4ha site at New Upper Changi Road in February 2016 after submitting the highest bid of $419.38 million, or $761 psf on the gross floor area. The 99-year leasehold plot is close to the Tanah Merah MRT station, Changi Business Park and the Singapore University of Technology and Design. It could yield up to 724 units.
3) Clementi Avenue 1
The Clement Canopy, a 505-unit condominium in Clementi Avenue 1 in which UOL owns a 50 percent stake, is expected to launch in the first quarter of 2017. The 1.3ha site was awarded for $302.1 million ($615 psf per plot ratio) in December 2015. The 99-year leasehold land parcel is within proximity to the National University of Singapore (NUS) and Jurong Lake District, which is just one station away from the Clementi MRT station.
4) Alexandra View
The 0.8ha site in Alexandra View was sold to Tang City Holdings in November 2015 for $376.88 million. The price works out to approximately $851 psf per plot ratio. Located next to Redhill MRT station, the 99-year leasehold site could yield about 400 housing units. Several shopping malls and schools are also within the vicinity.
5) Bukit Batok West Avenue 6
Qingjian Realty was awarded the 1.5ha site at Bukit Batok West Avenue 6 in May 2016 after it submitted the top bid of $301.16 million. The price translates to about $635 psf per plot ratio. This is the Chinese developer’s first mixed-use development in Singapore, and it could build about 370 condo units on the 99-year leasehold site. Nearby amenities include the Bukit Batok MRT station, West Mall, schools and a polyclinic.
6) Martin Place
The 99-year leasehold site at Martin Place in River Valley was sold to GuocoLand in July 2016 for $595.1 million ($1,239 psf per plot ratio). The 1.6ha site could potentially yield about 445 units. The future Great World MRT station and several residential projects, including Martin Place Residences, Rivergate and Martin 38 are located nearby.
7) Fernvale Road
A consortium comprising Sing Development and Wee Hur Development won the 1.7ha residential site in September 2016 after submitting the highest bid of $287.1 million, or $517 psf per plot ratio. The 99-year leasehold site in Sengkang can yield 605 housing units. It is close to the Thanggam LRT station, eateries along Jalan Kayu and The Seletar Mall.
PropertyGuru • December 8, 2016