Listed for collective sale last month, Yuan Ching Road Condo is one of the most recent enblocs in Jurong. It boasts a plot ratio of 2.1 and a total land area of 17,834 square metres. However, the developers were unable to raise the funds to launch the collective sale, which has resulted in a steep price drop. However, buyers can still expect a premium over individual unit prices.
Jurong Lakeside District
A joint venture has stepped forward to purchase Yuan Ching Road properties in Jurong Lakeside District. This partnership comprises mainboard listed developer Chip Eng Seng, local property developer SingHaiYi and Park View Holdings. The group will purchase the sites on a 99-year leasehold basis.
The Jurong Lakeside District is undergoing massive redevelopment and is poised to become the second CBD in Singapore. In addition to this, the Jurong Region Line is slated to open in 2027, thereby boosting connectivity. It is a good location for people who want to be close to their workplaces while enjoying good investment potential.
A new enbloc in Jurong is relaunching its collective sale tender with a lower reservation price. The price of Parkview Mansions, comprising 160 units with a 99-year leasehold, will be reduced to $250 million by 12 December. It initially listed at $320 million in March 2018.
The Yuan Ching Road property is located near the Lakeside MRT station. It has an approximate GFA of 403,145 square feet and is zoned for residential development. It is near the Jurong Lake District, one of Singapore’s fastest-growing integrated tourism districts. It is expected to fetch a price of S$260 million when fully developed. Its land rate is $1,023 per square foot, and it has over 400 thousand square feet of redevelopment potential.
Chip Eng Seng
The Yuan Ching Road condominium project is located in the heart of Singapore. The complex offers an array of services and amenities, including a homestay for residents. The project is a joint venture between Chip Eng Seng and KSH Holdings. When complete, it will have a total cost of over SG$260 million. Both companies will use internal funds and external borrowings to finance the project.
The property is currently under construction. The developer expects to launch the project soon. A full e-brochure is available for those interested in acquiring a unit. Prices are expected to start at $2050 psf. The project will feature 440 residential units and a gross plot ratio of 2.1.
Chip Eng Seng and KSH Holdings have been in a number of high-profile real estate deals recently, including the acquisition of the Peace Centre/Peace Mansion for $650 million in December. They are also partners in a new development, TK 189, which will feature 440 units spread across 17834.8 square feet. The project will be located near Lakeside MRT station and offer unobstructed views of Jurong Lake. It is expected to be completed this year.
KSH has sold the former Park View Mansions Enbloc, a block of four 10-storey residential blocks that have 160 units. The new owners plan to redevelop the site and sell it at a premium. They aim to create a development with a range of luxury and high-end apartments with unobstructed views of Jurong Lake. The project is expected to cost SG$260 million, which will be funded by internal funds and external borrowing.
Evia Real Estate
Yuan Ching Road is one of the premier developments in Singapore, offering an exceptional location within the city centre. Located near major arterial roads and MRT stations, it is easily accessible by car or public transport. It is also close to a number of educational and cultural institutions.
The project is a joint venture between BBR Development, a wholly-owned subsidiary of BBR Holdings, Evia Real Estate and CNH Investment, and Ho Lee Group. It comprises five 20-storey blocks, with most units boasting panoramic views of Fairways Country Club and Jurong Lake. A new development is due to be completed in 2023.
The Park View Mansions in Jurong are expected to fetch $260 million. The property has 160 units and is held under a 99-year leasehold agreement. The developer and two other companies, CEL Development and SingHaiyi Pearl, are jointly developing the project. The joint venture will fund the project through internal funds and external borrowings.
The project is a hybrid public-private partnership. The site is expected to yield about 375 residential units, a shopping mall, food court, childcare centre, and other amenities. The site is also expected to command a S$1,023-per-square-foot price.