Developer Bukit Sembawang Estates is set to unveil its latest development – the Watercove, a strata-landed, freehold project for sale beginning July 8 and 9. With 80 residential units, Watercove is located along Wak Hassan Drive, Sembawang. Out of these 80, 76 units are terraced and four are semi-detached units with an area ranging from 3,200 to 4,400 sqft. For the 3,200 sqft unit, prices begin at $2.28 million or $712 psf.
Every terrace unit features four luxury bedrooms, a family room or guest room and a roof terrace. All units have home automation features, lifts, digital lock-set and lighting, plus control devices for air-conditioning. Miele interior fittings and De Dietrich kitchen appliances complete the luxurious comforts. Outdoor facilities include a water play area for children, a Jacuzzi, a swimming pool and an onsen.
18 units have already been sold even before its launch. As per the Urban Redevelopment Authority, the units sold ranged in price from S$2.3 million or around S$738 psf.
Executive director at ET & Co (Edmund Tie & Co), Margaret Thean, says that Watercove’s growth potential lies in its location. For the moment, its capacity has yet to be seen in housing prices. She adds that, in time, the development will demand good income from rentals and an increase in capital appreciation.
Ng Chee Seng, CEO of the Bukit Sembawang Estates says that this development is an attractive investment for buyers because of the limited freehold housing land in Singapore and the rare seaview and freehold status.
Around 75 percent of the 2.8 million sqft area it occupies is currently underdeveloped. The area is zoned for landed properties. Thus, the company is set to be a good takeover target, considering the limited land supply in Singapore.
The Watercove is conveniently located and is close to the Sembawang Park. It is a mere 10-minute drive to and from the Sembawang MRT, the Yishun MRT and the Canberra MRT which will see completion in 2019. Shopping centers nearby are the Sub Plaza Shopping mall, Northpoint and Sembawang Shopping Centre.
CBRE and ET & Co jointly sell the Watercove.
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