Scheduled for completion in 2021, Kandis Residence, a property development of Tuan Sing Holdings, is set to be launched this month.
Comprised of 130 units in forested Kandis Link and conceptualized by architectural firm Ong & Ong, Kandis Residence is poised to imbibe the home-in-the-woods type of feel.
Space areas are around 485 to 1,034 sqft for 1BR, 2BR and 3BR units. 65% are allocated for 2BR units. Upper floors will offer views of the sea. The Kandis Residence price is at an average of $1,250 per square foot. View the Kandis Residence floor plans here.
Singapore-listed Tuan Sing, bested eight developers with their winning bid of $51,07 million. The site was 75,851 sqft in a Government Land Sale last April 2016. With these figures, land rate is computed to be $481 per square foot (per plot ratio).
OrangeTee Research and Consultancy Head, Wong Xian Yang, says that pricing is expected to entice more investors given the low land cost and limited number of units. Further, this is the first non-landed development in the landed enclave.
Owner occupiers who prefer a more rural landscape will find Kandis Residence a good choice.
Close to Sembawang and the nearly complete Canberra MRT, Kandis Residence will be a stone’s throw from shops and eateries both at Sun Plaza and Sembawang Shopping Centre.
Other Projects by Tuan Sing
Cluny Park Residence, Seletar Park Residence and Sennett Residence are three other projects that have been completed and almost sold out as per an SGX filing last week.
In another report, the sale of a freehold lot at No. 1 Jalan Remaja (Hillview area) was completed last June. This site is poised to become a new 100-unit condominium completed in the 2nd quarter of 2018
Tuan Sing’s Net Profits
For the first half of 2017, net profits fell by 51% ($7.2 million) from $14.7 million in 2016. Group revenue also dropped to $158.9 million (24%) versus $212 million last year.
This drop is charged to the slow sales in residential projects.