Parc Centros condominium to offer 5-bedroom units

Friday, Jul 13, 2012
AsiaOne

Parc Centros condominium to offer 5-bedroom units

SINGAPORE - Wee Hur Holdings is set to launch the Parc Centros condominium, its largest residential development to date, in Punggol Central on July 21.

In a filing on the Singapore Exchange yesterday, the property development and construction firm said Parc Centros will be the first condominium to offer five-bedroom apartments in the area. It comprises 618 units and is located near the Punggol MRT station.
 
Parc Centros will offer one to five-bedroom apartments and penthouse units, with an average price of $950 psf. The 99-year leasehold property will consist of eight 16-storey blocks.

Parc Centros condominium to be launched on July 21

By Wong Siew Ying | Posted: 12 July 2012 1912 hrs
CNA

SINGAPORE: Singapore-listed Wee Hur Holdings is set to launch the Parc Centros condominium, its largest residential development to date, in Punggol Central on July 21.

In a filing on the Singapore Exchange on Thursday, the property development and construction firm said Parc Centros will be the first condominium to offer five-bedroom apartments in the surrounding area of Punggol.

The project comprises 618 units and is located near the Punggol MRT station. Wee Hur said Parc Centros offers one to five-bedroom apartments as well as penthouse units, with an average price of S$950 per square foot.

The 99-year leasehold property consists of eight blocks of 16-storey buildings.

The developer said the showflat which is located at Punggol Central will be open to the public from 2pm on July 21.

Parc Centros is expected to be ready in December 2016.

- CNA/fa

River Isles

River Isles - Launching in May 2012

River Isles is located at the junction of Punggol Central and Edgedale Plains, which is merely 5 minutes away from Punggol Plaza, where you can dine and shop for their daily needs and groceries. Punggol MRT station is just 3 LRT stations away, residences can travel to any part of Singapore in no time. Enjoy fun filled recreational activities with families at the scenic Punggol Waterway which features a 4.2 km long waterway that offers a wide selection of greenery, promenades, cycling tracks and water sports.

River Isles comprises of 610 residential units in 9 blocks of 17 Storeys towers. All units will have either a North or South orientation to minimize the glare and heat from the morning and afternoon sun. Good spacing between blocks ensuring good views and thorough ventilation throughout the day. Every units come fitted with premium fittings and quality finishes, such as marble flooring for living, dining, master bedroom & common bathroom and luxurious brand like Kohler and Hansgrohe for the sanitary & kitchen fittings. Indulge into the wide variety of recreation facilities, there will be 4 different islands for you to explore.

Launching End Of May 2012

Unit Sizes:

441 sf (1 bedroom) (Lowest quantum private housing in Punggol from $450k)

753 sf (2 bedroom) (from $675k)

893-1184 sf (3 bedroom) (from $810k)

1206-1475 sf (4 bedroom) (from $960k

 

Developer: Qingjian Realty

District: 19

Tenure: 99-year leasehold

Site Area: 218,034 sqft (approximate)

Units: 610

Storeys: 17

Blocks: 9

Estimated TOP: mid-2015

Buyers throng showflats, snap up 224 units at Watertown over the weekend

Chinese New Year cheer for condo launches
By Esther Teo, Property Reporter

The notion that buyers avoid the property market during the Chinese New Year was shot down in flames over the weekend when 224 homes were sold at Watertown in Punggol Central.

Other projects also held open days over the festive weekend, with many willing buyers heading to showflats.

The so-called seasonal effect - namely that sales slow during the December school holidays, the Hungry Ghost Festival and Chinese New Year - has long dampened real estate activity. But things have been changing in recent years.

Mr Chia Boon Kuah, Far East's chief operating officer of property sales
Local home-seekers are more willing to buy all year round while there is also an increasing share of foreigners in the market who might be less superstitious. Developers keen to shift property in what could be a slow year also seem happy to take their chances.

Huge Crowds Flock to Watertown Showflat

Showflat not ready, but buyers lap up Watertown

The Straits Times - January 19, 2012
By: Esther Teo

NADARAJANHOME buyers, undeterred by recent tough market cooling measures, turned up in strong numbers at the preview of Watertown in Punggol Central yesterday.

Far East Organization said more than 160 units out of the 250 units launched were snapped up, with Singaporeans making up more than 90 per cent of buyers.

The enthusiastic response means that the official launch, originally scheduled for next week, will now be brought forward to tomorrow.

Industry analysts say developers seem eager to push out projects quickly, possibly before more uncertainty emerges.

In the case of Watertown, the developers bought the site for the 992-unit project less than a year ago and have yet to finish the showflat.

But agents had been fielding inquiries on the mixed-use development even before the authorities' approval for the launch had been given, sources say.

They say at least 100 buyers were ready to hand over cheques on Tuesday. But building plan approvals were issued yesterday and only then could agents collect cheques and grant options to purchase last evening.

The $1.6 billion project is being jointly developed by Far East, Frasers Centrepoint and Japanese firm Sekisui House. It will be integrated with a mall of 370,000 sq ft of net lettable shop space and a Shaw Theatres Imax cinema.

Developers had earlier said that prices will start from $1,080 per sq ft (psf), which they said included a discount.

Even so, the development will still set a benchmark in Punggol, trumping Sim Lian Group's A Treasure Trove, priced at $866 psf at its launch last September.

Buyers were unfazed at picking units off the plan as the showflat is not yet up.

Key attractions are the waterfront location and the fact that the project is integrated with Punggol MRT station, experts say. Recent mixed-use launches like Bedok Residences have also seen robust sales and benchmark pricing at a median of $1,359 psf.

SLP International research head Nicholas Mak said that developers are pushing out projects as quickly as possible before more uncertainty hits the market.

'Especially in the Punggol area, developers face increasing competition as the Government has pushed out a lot of land there,' he added.

He said the 11-month turnaround for the site, bought in February last year, was 'fairly quick'.

It typically takes a year or more for integrated projects of this size to be launch-ready, he added.

The Dec 7 cooling measures included an extra stamp duty of 10 per cent on all home buys by foreigners. Some analysts tip price falls of 10 per cent to 20 per cent this year.

Separately, Sekisui House said it will tap its network of retailers to introduce new-to-market brands and concepts from Japan into the upcoming mall.

Watertown

Watertown is located along the scenic Punggol Waterway, at the new Punggol Central, which is part of the government's Punggol 21-plus Master Plan.

The Punggol MRT and LRT Station, and Bus Interchange, is seamlessly connected to Watertown.

Punggol Waterway and the new communcal spaces along the promenade will provide an attractive and vibrant waterfront living environment.

• Developers Far East Organisation, Frasers Centrepoint and Sekisui House Ltd
• District 19  (Address Punggol Central / Punggol Walk)
• Tenure 99-year leasehold w.e.f 18 May 2011
• Site Area 322,912.46 sqft or 29,999.30 sqm
• Gross Plot Ratio 4.2
• No. of Units 992
• No. of Towers 11
• No. of Storeys Suite: 13-14 storeys
• SOHO: 13 storeys
• Condominium: 12 storeys
• Patio: 11-14 storeys
• No. of lifts 42 passenger lifts
• No. of Carparks 1,901
• Expected T.O.P Date 1st Quarter 2017
• Architect RSP Architects
• Shopping Mall Six Levels (4 above Ground Levels & 2 Basement Levels)
• The tenant mix will be, 40% Retail, 30% F&B, 15% Entertainment, 15% Others

The mall is scheduled to be completed in 2015

UNITS SELLING FAST

Email info@leejessica.com for more information.

FACILITIES
- Lap pool
- Lounge Cabana
- Sun Lounge Deck
- Outdoor Fitness Zone
- Dining Villa
- Hot Spa Pool
- Hydrotherapy Pool
- Lily Pond
- Kids' Play Zone
- Gym
- Spa Steam Pool
- Landscape Garden
- BBQ Cabana
- Isle Deck Terrace
- Spa Steam Room
- Tennis Court

AMENITIES
• Waterway Point
• Punggol Waterway
• Punggol Plaza
• Rivervale Mall
• Sengkang Sports and Recreation Centre
• Punggol Park
• Punggol Reservoir and Sengkang Floating Wetland

NEARBY SCHOOLS
• Edgefield Primary School
• Nanyang Polytechnic
• Serangoon Junior College
• Meridian Junior College
• Greendale Secondary School

NEARBY MRT STATIONS
• Punggol

Watertown @ Punggol - Coastal Town of the 21st Century

Twin Waterfalls

Launching in 1st Qtr 2012 !!!

A new exciting Executive Condominium launching very soon in Punggol! (1st Quarter 2012)

Twin Waterfalls enjoys close proximity to Punggol MRT station which is right next to Watertown, the first commercial cum residential development in Punggol. It is also close to Punggol Plaza and Compass Point. Residents of the development will be easily access to the rest of the island through TPE and KPE which are just minutes away. Punggol, being the most vibrant and exciting new town in Singapore which encompasses conveniences of modern living and enchanting lifestyle amenities allow the residents of the development to enjoy the best of both worlds and have a balanced lifestyle.

Developer : Frasers Centrepoint
Location : Punggol Way / Punggol Field
Site Area : 25,164.2 sq m
Number of units : 720
Lease Term : Leasehold 99 years

Treasure Trove - Site Video

Courtesy of H88, here's a site video of A Treasure Trove in Punggol. This was shot on the 16th floor of Blk 267B, Punggol Sapphire, a HDB BTO. The camera is facing north. The site of A Treasure Trove is to the north-east (on the right).

A Treasure Trove - Fact Sheet

PROJECT NAME: A Treasure Trove
DEVELOPER: Sim Lian Group
ARCHITECT: Design Link Architects
LOCATION: 50 – 76 Punggol Walk
LAND SIZE: 296,298 sqft (approx)
PLOT RATIO: 3.0
DISTRICT: 19
TENURE: 99 years commencing from 9 March 2011
TOTAL NO. OF UNITS: 882
NO OF BLOCKS / STOREY: 14 Blocks of 16 Storeys each
EXPECTED TOP DATE: 30 November 2015
EXPECTED LEGAL COMPLETION DATE: 30 November 2018
NO. OF CAR PARK LOTS: 2 level of Basement Carparking – 809 Carkpark Lots + 14 Handicap Lots

FLOOR TO FLOOR CEILING HEIGHT:

• 2.90m or 2900mm (for 1st storey – 15th storey)
• 3.20m or 3200mm (for penthouse only – 16th storey)

FULL & LUXURIOUS CONDOMINIUM FACILITIES

• 50m Lap Pool
• Children’s Pool
• Spa Pool
• Hydro Gym
• Jacuzzi Pool
• Clubhouse with Function Room, Gymnasium and Reading Room
• 1 male changing/shower room with sauna; 1 female changing/shower room with sauna
• Pool Terrace
• Children’s Playground
• BBQ
• 1 Recreational Tennis Court
• Fitness Station

LIFTS:

• 1st Storey – 15th storey (4 units on each level serve by 2 lifts)
• 16th Storey – Penthouse (3 units on each level serve by 2 lifts)

UNIT TYPE & MIX:

• 2 Bedroom (775 sqft) – 210 units
• 2 Bedroom +Study (915 sqft) - 90 units
• 3 Bedroom (1,044 – 1,130sqft) - 270 units
• 3 Bedroom + study (1,206sqft) - 180 units
• 4 Bedroom (1,335sqft) - 90 units
• Penthouse (1,528sqft – 4,876sqft) - 42 units

APPLIANCES & FITTINGS:

• 600mm by 600mm Polished Porcelain Tiles with Timber Skirting
• Spa Bath to Penthouse units only
• High and low kitchen cabinets with Solid Top
• Oven provided for all unit types (Brand – BOSCH)
• Built-in wardrobe to all Bedrooms (excludes Study Room)
• Wall mounted single/multi split fan coil unit air-conditioning system provided to all Living, Dining, Bedrooms and Study only.
• Hot Water Supply shall be provided to all Bathrooms (exclude Kitchen, Wet & Dry Kitchen and W.C.).
  Units will be provided with gas water heater or electric strage heater where appropriate.
• Town Gas Supply to kitchen cooker hob will be provided to units where appropriate.
  Brand – BOSCH Cooker Hood & Hob

Punggol EC banner in HDB

HDB launches sale of Punggol EC site

As published in Todayonline
26 May 2011

The Housing & Development Board (HDB) has put up an Executive Condominium (EC) housing site at Punggol Way for sale.

The land parcel was released for sale under the Confirmed List of the first half of the Government Land Sales programme.

The 99-year lease site can yield up to an estimated 720 housing units.

The HDB says the land parcel has a site area of about 25,000 sq m, with a maximum gross floor area of around 75,500 sq m.

It added that the site is located in Punggol Town, and is near the Punggol transport hub comprising the LRT, MRT and a bus interchange. Analysts agree that the site is well located.

Mr Nicholas Mak, executive director of SLP International Property Consultants, said: "This land parcel is located only about 700m from the Punggol MRT Station and the future EC development is likely to be popular with home buyers. Although there is another EC project in Punggol that could be launched in the next two months, this tender could still attract four to seven bidders due to its location and proximity to the future Punggol town centre."

The HDB says the new development is expected to be completed in 48 months from the date when the tender is accepted.

Mr Li Hiaw Ho, executive director, CBRE Research, said: "Units in Prive EC, which is further down Punggol Field, were transacted at $660 psf - $715 psf in January-April 2011 period. Units in Austville Residences EC, in Sengkang, were sold at $620 psf - $740 psf over the same period. "We expect the subject site to fetch bids of between $227 million and $244 million with a view to sell the new units at around $700 psf."

The tender will close at 12 noon on July 7.

Overall, the Government has placed 30 sites in this year's first half land sales programme, which can potentially yield more than 14,300 private residential units.

These 30 sites include four Executive Condominium sites and two commercial and residential sites.

Prive EC project in Punggol attracts strong turnout at launch

As published in ChannelNewsAsia
03 Dec 2010 (Friday)

By Joanne Chan

SINGAPORE : Singapore's latest executive condominium (EC) saw a strong turnout of potential home buyers on the first day of its launch.

Market watchers predict the Prive will be popular because of the renewed interest in this type of housing.

Executive condos are a hybrid of private and public housing which made a comeback this year after a five-year hiatus.

Located near Punggol MRT station, Prive is priced at $660 to $690 per square foot(psf).

Jointly developed by NTUC Choice Homes and CEL Development, it offers 680 two to four-bedroom units.

Available to those with a maximum household income of $10,000, executive condos offer more choices for home buyers who are often known as the "sandwiched class".

These people are not eligible for new flats due to an income limit of $8,000, but find private housing too expensive.

By Friday evening, more than 260 applications were received.

Analyst Nicholas Mak said Prive is a more affordable option compared to a mass market condo in Punggol, which can go for between $800 and $900 psf.

He added that executive condos plug a gap in the market, as the price difference between resale flats and condos continue to widen.

Another draw - a deferred payment scheme to make it more affordable for home buyers, especially first-timers.

Margaret Goh, CEO, NTUC Choice Homes, said: "They have less cash, so this will help them. They also have priorities, for example, they are making their wedding preparations, they will need cash for renovations."

Potential home buyers Channel NewsAsia spoke to found the location and pricing attractive.

"With all the facilities at a competitive price as compared to private property, we decided to try," said one potential home buyer.

"Punggol 21 is a very nice place, especially the waterway," said another.

Prive is the third EC project launched this year.

The Esparina, launched in October, sold 425 of its 573 units within the month.

The Canopy, also launched in October, sold 104 of its 406 units within the month. - CNA/ch

Punggol site bids below expectations

As published in The Straits Times
23 Sep 2010

By Jessica Cheam

Lower bids suggest cooling measures starting to have impact, say observers

A PUNGGOL executive condominium site tender closed on Thursday with four developers putting in bids below industry expectations.

The highest bid for the Punggol Drive plot was $136.2 million, coming from Qingdao Construction (Singapore) and working out to be $237 per sq ft (psf) - below the anticipated $250 to $290 psf predicted by analysts.

The bid was only 2.2 per cent higher than the second-highest offer of $133.2 million from Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

SLP International research and consultancy executive director Nicholas Mak noted that Qingdao's bidding price was 23 per cent lower than the amount paid by ChoiceHomes Investments and CEL Development for another exec condo site in Punggol Field earlier in June.

Industry observers say the tender results suggest that the Government's supply-side measures to cool Singapore's red-hot property market are beginning to have an impact on land prices.

For the second half of the year, the state has earmarked the largest potential amount of land for release since the start of the land sales programme in 2001.

Highest Bid for Punggol Site

Qingdao Construction submits highest bid of S$136m for Punggol site

As published on CNA
23 September 2010

By Jonathan Peeris

SINGAPORE : The Housing and Development Board (HDB) has closed the tender for a residential site at Punggol Drive/Punggol East after receiving four bids.

The highest bid of S$136 million for the site came from Qingdao Construction. That translates to about S$237 per square foot per plot ratio.

The next highest of S$133 million came from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

Li Hiaw Ho, executive director of CBRE Research, said the quantum of the bids is quite modest, which is expected for a location that is lacking in amenities and further away from Punggol Central.

Mr Li added that units in this new executive condominium project will possibly sell around S$600 per square foot.

The land parcel has a site area of 15,700 square metres and a maximum allowable gross floor area of 53,380 square metres.

The proposed site is for executive condominium housing.

With the government's plans to develop Punggol New Town into a residential estate with mostly waterfront housing, CBRE's Mr Li said the project will likely be attractive to young couples and couples with young children.

The site was launched for public tender on August 5 and has a lease period of 99 years.

HDB said it will evaluate the bids and announce the final tender results within the next two
weeks.

- CNA/al

Punggol EC site awarded

As published in The Straits Times

17 June 2010 (Thursday)

THE Housing Board has awarded the Punggol site for Executive Condominium housing to ChoiceHomes Investments and CEL Development, which jointly submitted the top bid of $223.7 million.

The winning firm is a joint venture between NTUC Choice Homes Co-operative and Chip Eng Seng, which plans to develop the 99-year leasehold site at the junction of Punggol Field and Punggol Road into a 17-storey, 600-unit project with full condo facilities. Its tender bid works out to $308 per sq ft per plot ratio (psf ppr) for the 22,497 sqm site.

Five bidders made a play for the site near Punggol MRT station, after it was triggered for sale with a minimum offer price of $147.7 million.

NTUC Choice Homes will hold a 60 per cent interest through its subsidiary Choicehomes Investments while Chip Eng Seng unit CEL Development will hold 40 per cent.

Their winning bid is about 50 per cent higher than the trigger bid of $147.7 million and about 4 per cent above the second highest bid of $296.3 psf ppr from Hoi Hup Realty and Sunway Developments.

China-based Qindao Construction was next with $280.5 psf ppr.

The Punggol site is the fourth EC tender this year. The previous three had attracted seven to seven to 11 bids.

Chip Eng Seng setting up SPV for Punggol EC development

As published in The Straits Times
16 Jun 2010

By Mok Fei Fei

SINGAPORE: Construction firm Chip Eng Seng said Wednesday that its wholly-owned subsidiary, CEL Development will set up a special purpose vehicle (SPV) to facilitate the development of an executive condominium (EC) in Punggol.

This is in view of the fact that CEL and its partner, Choicehomes Investments, have emerged as the top bidder in a tender for the site.

Both sides put in a joint bid of $223.74 million for the 99-year leasehold site.

The site has a gross permissible plot ratio of three and a maximum allowable gross floor area of some 67 and a half thousand square metres.

The proposed development, with full condominium facilities, will comprise approximately 600 residential units.

CEL and its Choicehomes will incorporate a special purpose company to jointly develop the project.

Choicehomes will hold a 60 per cent stake in the SPV while CEL will have a 40 per cent interest in the SPV.

Choicehomes is a wholly-owned subsidiary of NTUC Choice Homes Co-operative.

Chip Eng Seng says the Proposed Development will be financed by internal fund and bank borrowings. - CNA/jy

Punggol EC site fails to draw any bid

Source: Business Times
12 Nov 08 (Wed)

NO bid was received for an executive condominium housing site - despite its being attractively located in Punggol - by the time the tender closed yesterday.

The 99-year leasehold site at the junction of Punggol Field and Punggol Road was launched for sale by the Housing & Development Board (HDB) on Sept 17.

Property analysts had said then that they expect lukewarm response from developers despite its location near Punggol MRT Station and the future Punggol Town Centre.

Nicholas Mak, director of research and consultancy at Knight Frank, predicted fewer than five bids.

When the tender closed at noon yesterday, there wasn’t a single taker.

‘The lack of interest in the site reflects the cautious sentiment in the market,’ said Eugene Lim, assistant vice-president of property firm ERA.

There is also now a problem in deciding how to price executive condominium (EC) flats, he said.

EC flats are thought to be a cut above HDB’s Design, Build and Sell Scheme (DBSS) apartments. With the DBSS scheme, developers have flexibility in designing and pricing the flats - but the homes are still public HDB flats in nature.

EC flats, on the other hand, are just a step away from private apartments as they come with condo-like facilities and land rights.

With DBSS flats now mostly going for $500,000-$750,000 each and mass market private homes selling for just a bit more than that, it is hard to find a pricing range for EC flats where they will be attractive to homebuyers, Mr Lim said. ‘EC flats target the same market as the DBSS flats - first-time homeowners and HDB upgraders.’

The 242,159 sq ft site is the fourth EC site the government put on the market this year.

Unlike the private residential property market, the HDB market is still going strong.

HDB’s resale price index rose 4.2 per cent in the third quarter. This means that in the first nine months of 2008, HDB resale prices climbed 12.4 per cent. The number of transactions also rose in Q3 to 8,110, from 7,760 in Q2.

Related post: No takers for Punggol EC site