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Five homes, 506-unit EC to be up for sale in Sembawang

HOUSE hunters eyeing the Sembawang region will be spoilt for choice, with a couple of projects there becoming available this week.

The Business Times - October 9, 2013
By: Mindy Tan

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Five homes, 506-unit EC to be up for sale in SembawangSkyPark Residences: E-applications for the executive condominium open on Saturday. It is the first EC with a 100m skypark on the 15th storey, which will feature a jogging track, sky lounge and a starlight dining terrace. - PHOTO: SHIN MIN

HOUSE hunters eyeing the Sembawang region will be spoilt for choice, with a couple of projects there becoming available this week.

Specifically, three terraced houses and two semi-detached homes are being launched for sale by tender, while e-applications for SkyPark Residences, a 506-unit executive condominium (EC), open on Saturday.

The three terraced houses in Kerong Walk have land sizes ranging from 2,187 square feet to 2,946 square feet; the pair of semi-detached houses on Wak Hassan Drive are 3,775 square feet and 4,661 square feet in size.

Together, the five houses in the Sembawang Park neighbourhood have a guide price of $15 million, translating into a per square foot (psf) price of $943. The guide price for the semi-detached houses ranges from $850 to $900 psf, and that for the terrace houses, between $950 and $1,100 psf.

The owners will consider individual bids as well as offers for permutations of the properties. The tender exercise for them closes at 3pm on Oct 31.

Galven Tan, an associate director for investment properties at CBRE, the marketing agent for the sale, said: "These houses are unique in their design as they are based on the functional needs of a modern family, taking full advantage of the lush natural surroundings. They stand out from the typical 'cookie-cutter'-type of developments in the neighbourhood. The asking price is very competitive and we expect keen interest in the tender."

Terrace houses in the nearby Inggu Road and Penaga Place are going at between $1,145 and $1,394 psf.

Semi-detached homes in District 27 fetch between $827 and $1,218 psf.

Over at SkyPark Residences, official prices have yet to be disclosed, but market watchers expect the development, the first EC with a 100m skypark, to be marketed at between $750 and $820 psf. Featuring nine 15-storey towers of apartments with between three and five bedrooms and maisonettes with five bedrooms, the development will give over a third of its ground-level common space to water facilities.

The skypark located on the 15th storey will feature a 200m jogging track, sky lounge and a starlight dining terrace.

The majority of the units will have three or four bedrooms. Three-bedroom units are available in 1,141-sq-ft and 1,152-sq-ft sizes; the three-bedroom premium will have 1,238-sq-ft. Four-bedroom units range from 1,302 sq ft to 1,356 sq ft; the four-bedroom premium units come in 1,528 sq ft and 1,582 sq ft sizes.

There are also 28 five-bedroom maisonettes with double-volume ceiling height in the living and dining spaces. These are 1,722 sq ft in area.

SkyPark Residences is a joint project between JBE Holdings and Keong Hong Holdings.

The e-application period for this development ends on Oct 20. Bookings are expected to start on Nov 16.

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Developer sales in Q3 lowest since worst phase of global crisis

Developer sales in Q3 lowest since worst phase of global crisis

The Business Times - 16 Oct 2014

Combination of sluggish sales and price declines spells painful journey ahead for property market, say observers


Median size of new sales continues to shrink in H1

Median size of new sales continues to shrink in H1

The Business Times - 15 Oct 2014

Different picture emerges in CBRE's study on resale deals, with median unit size remaining at about 1,200 sq ft since 2007


Hiap Hoe snaps up unsold condo units

Hiap Hoe snaps up unsold condo units

The Straits Times - 16 Oct 2014

It purchases units at its own developments at bargain prices

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