What are the upcoming projects to watch out for in 2017? A number of new residential developments are scheduled for launch next year and it is anticipated that they will attract homebuyer’s interest. Some of the sites to look out for include:
Siglap Road (Seaside Residences)
Frasers Centrepoint led consortium was awarded the Siglap Road site measuring 1.93ha in January 2016 for $624.18. This translated to $858 psf ppr. Amenities close by include schools, shopping malls and the upcoming Siglap MRT station. The site on 99-year leasehold will yield approximately 840 units.
Clementi Avenue 1 (Clement Canopy)
Clement Canopy located in Clementi Avenue 1 is a 505-unit that is scheduled for launch in Q1 2017. The UOL holds a 50% stake on the 1.3ha site that was awarded in December 2015 for $615 psf ppr or $302.1m. The site, which is close to Jurong Lake District, National University of Singapore and Clementi MRT, has leasehold of 99 years.
New Upper Changi Road (Grandeur Park Residences)
Chip Eng Seng was awarded the tender for the New Upper Changi Road site measuring 2.4ha in February 2016. The developer had submitted the top bid for the 99-year lease site of $419.38m or $761 psf. The site is near the Singapore University of Technology and Design, Changi Business Park and Tanah Merah MRT. The site could yield approximately 724 units.
Alexandra view (Artra @ Alexandra)
Tang City Holdings bought the 0.8ha Alexandra View site for $376.88m or $851 psf ppr in November 2015. The site with a yield of approximately 400 units has leasehold of 99 years. It is near Redhill MRT as well as various schools and shopping malls.
Martin Place (8 Martin Residences)
GuocoLand bought the Martin Place site for $595.1m or $1,239 in July 2016. The 1.6ha site has leasehold of 99 years and could yield approximately 445 units. Located nearby are residential developments such as Martin 38, Rivergate and Martin Place Residences as well as the upcoming Great World MRT station.
The Fernvale Road 1.7ha site tender was awarded to joint developers Wee Hur Development and Sing Development in September 2016 after bidding $517 psf ppr or $287.1m. The site located in Sengkang is on 99-year leasehold and can yield approximately 605 units. Close amenities include The Seletar Mall, Thanggam LRT and eateries.
Bukit Batok West Avenue 6
The Bukit Batok West Avenue 6 site was awarded to Qingjian Realty after submitting the highest bid of $301.16m or $635 psf ppr in May 2016. The 1.5ha site on 99-year leasehold is the first mixed-use development by the Chinese in Singapore. It can yield approximately 370 units. Amenities close by include West Mall, polyclinic, schools and Bukit Batok MRT.
*Project Names are subject to confirmation