NEW LAUNCHES IN Q2 OF 2017

NEW LAUNCHES IN Q2 OF 2017

Developers is launching eight new properties launches in Q2 of 2017. Which includes “Hundred Palms Residences (EC)” at Yio Chu Kang Road, Martin Modern at Martin Road, Le Quest at Bukit Batok.

Martin Modern

One of the new launches are located in prime District 9, in the vicinity of the upcoming Great World MRT station — one stop from the Orchard MRT station — which will be an interchange for the Thomson-East Coast Line and North-South Line.

Martin Modern consists of 450 units which is located at Martin Place and River Valley Close. GuocoLand has submitted the top bid of $595.1 million in June 2016 for land site of 171,535sqft. This government land sale site has attracted total of 13 bids with GuocoLand’s bid edging out the 2nd highest among all bidders. There has not been any new launch in this prime district area since Starlight Suits in 2010.

Other then Martin Modern, there is another new launch located at St Thomas Walk

Also in the area, a 250-unit project on St Thomas Walk could be launched by Bukit Sembawang later this year. Bukit Sembawang bought the 63,260 sq ft site through the $202 million collective sale of the former Airview Towers in 2007.

The 124-unit New Futura by City Developments is also located in the vicinity. The tower on Leonie Hill Road is a redevelopment of the former Futura project. City Developments paid $287 million for the 87,034 sq ft site in 2006.

 

City-fringe and suburbs

Developer TEE Land is going to launch  24 One Residences land size is 12,930sqft, freehold property located at Pasir Panjang Road. This developer has acquired the site when it bought Ley Choon Development, a subsidiary of construction firm Ley Choon Group Holdings, for $11.5 million last year. Ley Choon Development paid $13 million for the site in December 2012.

Le Quest with 516 units is developed by Qingjian Realty, located at Bukit Batok West Avenue 6. May 2016, this developer has submitted the top bid of  $301.2 million for the this land site of 158,194 sqft, mixed commercial and residential site. Under the conditions of tender for the GLS site, URA stipulated a maximum gross floor area of 64,582 sq ft for the commercial component, which must include a supermarket of at least 10,764 sq ft and a food court of at least 5,382 sq ft. The developer must also build a childcare centre of at least 5,382 sq ft, which will form part of the development’s common area.

Another development Kandis Residence is a 130 units, developed by Tuan Sing Holdings. They have bought this land of 75,838sqft GLS site near Sembawang Park for $51.1 million in April 2016. Watercove, an 80-unit strata-landed project by Bukit Sembawang, is also near Sembawang Park. It was the only new launch this year, in May, and

In September 2016, Sing Development and Wee Hur Development submitted the top bid of $287.1 million for a 185,095 sq ft site on Fernvale Road, less than 100m from the Thanggam LRT station. The top bid was $13,399 higher than the second-highest bid in the GLS tender, which drew keen interest from developers. The site is being developed into a 700-unit condo.

Hundred Palms Residences is an upcoming 531-unit EC by Hoi Hup Realty. It sits on a 198,302 sq ft site on Yio Chu Kang Road, in an established residential estate in Hougang. Hoi Hup submitted the top bid of $183.8 million for the land sale site in February 2016.

Source: URA, The Edge Property

Source: https://www.newlaunchhome.com/new-launches-in-q2-of-2017/