1st Such Property Launch in East Coast since 2001
Not since 2001 (the launch of Cote D Azur) has there been a major new launch along the East Coast belt with wonderful view of the East Coast Park, one of the most popular outdoor getaway for families and teenagers during weekends. This part of D15, together with Amber Road vicinity are often considered as the most prime areas in District 15. Seaside Residences will be developed by the winning consortium comprising FCL Topaz Pte. Ltd., Sekisui House, Ltd. and KH Capital Pte. Ltd are expected to create the next landmark along East Coast Parkway with approximately 800 to 900 units on a land area of 19,309.6 sqm (maximum GFA 67,584 sqm). Investor with an eye on the potential of Thomson-East Coast MRT line will do well to position their chip in this development which is a few minutes walk from the future Siglap MRT station.
All Eyes on the Record Price per square feet paid in this GLS since 2009
At the close of tender in June 2016, First Bedok Land Pte Ltd which is part of Guocoland, grabbed the headline with a record $1239 per sqf ppr on this prized asset along Martin Place. When the site was first released under the Confirmed List of 1H2016 GLS, analysts had expected keen interest by developers as the last time a GLS site was made available in the vicinity was in Robertson Quay in March 2011 which developer City Developments Ltd won with a bid of $938 psf ppr. With the recent recovery in buying activity of prime properties, this could be the next prime location to keep a close watch.
1st Mixed-Use development by Long-Time Chinese developer Qingjian Group
A quick search of Qingjian on Google shows projects like Bellewood, Bellewater EC. In a bold move, the developer has won the bid to construct its 1st mixed residential – cum- commercial development in Bukit Batok West Avenue 6. With a land area of 14,696.7 sqm equivalent to maximum GFA of 44,091 sqm, about 6,000 sqm will be for commercial use. Qingjian started with construction of HDB and recently attained the 1st and 2nd position in CONQUAS Score for Public Housing from BCA.
2 New Launches are right next to existing MRT stations
Redhill MRT and Tanah MRT Stations will be at the doorsteps of this 2 developments in District 3 and 16 respectively. ARTRA is the name of the new development at Redhill MRT. Unlike other nearby developments, there will be 15 shops, a childcare centre and supermarket to bring convenience to residents. On the other hand, CEL Residential Development Pte. Ltd. won the bid to the site at New Upper Changi Road / Bedok South Avenue 3. Originally under the Reserved List of GLS, the site can potentially yield 570 residential units.
Expectation is High in the Fiercest GLS for private residential plot
This site saw the most number of bidders among other GLS sites for private residential development in 2016. A total of 14 bidders joined in the fray and the consortium of Sing Development (Private) Limited and Wee Hur Development Pte. Ltd. prevailed. A key reason for the high interest in this site should come from the excellent sales of nearby High Park Residences which sold 1372 units out of the 1390 units. With easy access to nearby Thanggam LRT, the site could potentially yield about 605 units.