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Singapore Property News

380-unit exec condo launching in Sengkang

A 380-UNIT executive condominium (EC) called Lush Acres at Fernvale Close in Sengkang will be launched tomorrow.

Posted on 12-Jul-2013

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380-unit exec condo launching in Sengkang

A 380-UNIT executive condominium (EC) called Lush Acres at Fernvale Close in Sengkang will be launched tomorrow.

While prices have yet to be officially released, Lush Acres will be "competitively priced with affordability in mind", said City Developments (CDL) group general manager Chia Ngiang Hong in a statement yesterday.

Unit sizes range from 915 sq ft for a three-bedder to 1,722 sq ft for a five-bedroom unit.

The project is near the Layar LRT station, the Greenwich V mall and the upcoming The Seletar Mall.

CDL's Verspring Properties lodged a bid of $135 million for the 151,781 sq ft site last November, which works out to $296.50 per sq ft (psf) per plot ratio (ppr). It pipped five other bids including JBE Development's $134.9 million offer - or $296.20 psf ppr - which it edged out by a whisker.

Analysts said last year that the break-even price is expected to be between $560 and $610 psf, and the estimated selling price is likely to range from $670 to $720 psf.

The project consists of three 25-storey blocks and one 22-storey block.

Some units will have a "balcony entrance" allowing people to enter the living room via the balcony, which "simulates the entrance experience of landed living", CDL said yesterday.

The project will also have an "Agri-Cube hydroponic farm... that allows residents to try their hand at growing fresh vegetables by utilising hygienic hydroponic technology in a conducive, cool environment", the developer added.

This is CDL's sixth EC project after The Florida, Nuovo, The Esparis, Blossom Residences and The Rainforest. It is expected to be completed in 2016.

Applications open tomorrow and close on July 21. Bookings will be taken on Aug 17.

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