Another two mass market condos ready for launch

Parc Centros Condo, one of two mass market condos ready for launch - Photo: Parc Centros

TWO condominiums targeted at the mass market are ready for the starting gun.

More than 1,000 units in total will be on offer at the projects - one in Punggol and the other in Upper Changi - giving home seekers even more choice in an already saturated market.

Sporty types can first limber up for today's launch of Parc Olympia in Upper Changi.

The 99-year leasehold development at Flora Drive will have 486 units and cover more than 300,000 sq ft, with about 60,000 sq ft devoted to sports.

The amenities will include a synthetic jogging track, rock climbing wall, air-conditioned badminton court, Olympic-sized swimming pool, aqua gym and skate park.

National table tennis star Feng Tianwei and badminton players Shinta Mulia Sari and Yao Lei will make appearances at the launch of the condo today.

Parc Olympia, which is being developed by the Koh Brothers Group, will comprise 52 one-bedroom units, 212 two-bedders, 169 three-bedroom units and 53 four- bedders in eight blocks. Apartment sizes range from 495 sq ft to 2,702 sq ft.

Managing director and chief executive Francis Koh said the condominium will be marketed to the 'mass market HDB upgraders'.

He said average prices will be $820 per sq ft (psf), with a one-bedder going at $440,000.

'Despite the cooling measures introduced by the Government, the mass market is still resilient,' he said.

Attention next week will turn to the 618-unit Parc Centros, the largest development undertaken by developer Wee Hur Holdings and the first condominium in the Punggol area to offer five-bedroom units.

The 99-year leasehold project, which is near Punggol's transport hub, comprises eight blocks of 16 storeys each, with one- to five- bedroom and penthouse units.

Prices start from about $950 psf. A one-bedroom unit goes for about $550,000 while a five-bedroom unit is about $1.5 million.

Its amenities include an aqua gym with hydrotherapy equipment, scenic trail, aqua reflexology footpath and tennis court.

Wee Hur executive chairman Goh Yeow Lian said that the property cooling measures helped Wee Hur when it bought the 18,000 sq m site for Parc Centros.

'We were the first parcel that was tendered out after cooling measures were announced... so we paid about 13 per cent less, savings that we are able to pass on to buyers,' he said.

'We can't just build any run- of-the-mill condos any more... buyers today are savvy, they do their homework.

'If they miss the early phases that have the better units, they'll just wait for the next condo launch.'