reporter2
08-04-22, 12:09
North Gaia to set trend for EC projects at average price of $1,250 to $1,280 psf
April 8, 2022
https://i.imgur.com/z9zI3RE.png
SINGAPORE (EDGEPROP) - With the easing of Covid-19 restrictions from March 29, developers are preparing to launch their larger-scale projects. First out of the gate is Sing Holdings’ 616-unit executive condo (EC) North Gaia at Yishun Close, which opened its sales gallery and showflats for public preview on April 7. E-application will be held from April 7 to 19, with prices of the units to be released on April 20 and 21, followed by manual balloting on April 22 and booking of units on April 23.
The project will have 11 blocks of 14 storeys, with three- to five-bedroom apartments, sitting on a 99-year leasehold, 231,575 sq ft, regular-shaped plot. Across the road is the 40ha Khatib Bongsu Nature Park, with mangroves, mudflats and a river where people can go kayaking.
“When I first viewed the site two years ago, it was the prospect of the nature reserve that drew me,” says Lee Sze Hao, CEO and managing director of Sing Holdings. “It is very rare for a suburban residential project to be located so close to the nature reserve.”
https://i.imgur.com/Z7r1QdU.png
Sing Holdings won the site with a bid of $373.5 million or a land rate of $576 psf per plot ratio (ppr) in November 2020. The land rate of $576 psf ppr was second only to the $583 psf ppr paid by a joint venture between City Developments Ltd (CDL) and TID (a joint venture between Hong Leong Holdings and Japanese developer Mitsui Fudosan) for the Sumang Walk EC site in February 2018. That was a record price for an EC site then.
When the EC at Sumang Walk, the 820-unit Piermont Grand, was launched in July 2019 at an average price of $1,109 psf, it was the first EC to cross the psychological threshold of $1,000 psf. Piermont Grand was fully sold as of end-December 2021, just 2½ years after its launch. The last few units that were sold fetched a median price of $1,159 psf, according to caveats lodged with URA Realis from September to December 2021.
https://i.imgur.com/cbBtIkI.png
Read more at: https://www.edgeprop.sg/property-news/north-gaia-set-trend-ec-projects-average-price-1250-1280-psf
April 8, 2022
https://i.imgur.com/z9zI3RE.png
SINGAPORE (EDGEPROP) - With the easing of Covid-19 restrictions from March 29, developers are preparing to launch their larger-scale projects. First out of the gate is Sing Holdings’ 616-unit executive condo (EC) North Gaia at Yishun Close, which opened its sales gallery and showflats for public preview on April 7. E-application will be held from April 7 to 19, with prices of the units to be released on April 20 and 21, followed by manual balloting on April 22 and booking of units on April 23.
The project will have 11 blocks of 14 storeys, with three- to five-bedroom apartments, sitting on a 99-year leasehold, 231,575 sq ft, regular-shaped plot. Across the road is the 40ha Khatib Bongsu Nature Park, with mangroves, mudflats and a river where people can go kayaking.
“When I first viewed the site two years ago, it was the prospect of the nature reserve that drew me,” says Lee Sze Hao, CEO and managing director of Sing Holdings. “It is very rare for a suburban residential project to be located so close to the nature reserve.”
https://i.imgur.com/Z7r1QdU.png
Sing Holdings won the site with a bid of $373.5 million or a land rate of $576 psf per plot ratio (ppr) in November 2020. The land rate of $576 psf ppr was second only to the $583 psf ppr paid by a joint venture between City Developments Ltd (CDL) and TID (a joint venture between Hong Leong Holdings and Japanese developer Mitsui Fudosan) for the Sumang Walk EC site in February 2018. That was a record price for an EC site then.
When the EC at Sumang Walk, the 820-unit Piermont Grand, was launched in July 2019 at an average price of $1,109 psf, it was the first EC to cross the psychological threshold of $1,000 psf. Piermont Grand was fully sold as of end-December 2021, just 2½ years after its launch. The last few units that were sold fetched a median price of $1,159 psf, according to caveats lodged with URA Realis from September to December 2021.
https://i.imgur.com/cbBtIkI.png
Read more at: https://www.edgeprop.sg/property-news/north-gaia-set-trend-ec-projects-average-price-1250-1280-psf