The Commodore Condo

I do believe Canberra is the next hotspot in the North, looking at the recent BTO subscription rate, the demand for 5 rooms are as high as those launches in Toa Payoh!

Upgraders there can look forward to 2 really promising private condo development.

1. The Watergardens at Canberra is developed by joint venture of UOL, UIC and Kheng Leong. It is expected to yield about 455 units and has a land cost of $650 psf ppr. This site is parcel B of the recent Canberra GLS land sales.

2. The Commodore is developed by Oasis Development which is a subsidiary of JBE Holdings. This site is Parcel A of the Canberra GLS site and almost half in size of Parcel B, expected to have about 220 units. The winning bid by JBE translates to a land cost of $644 psf ppr.

I believe these 2 projects will attract a lot of attention from upgraders. It's been sometime since we have a new private condo development in Canberra area. They are expected to launch in the 2nd half of 2021. Check out more and other surrounding projects in https://www.propertyportal.com.sg/

The Commodore Condo is a brand new low-rise residential condo that is is only a 8-minute stroll from the Canberra MRT station. It is proudly developed by Oasis Development Pte Ltd, has 220 units with a few design and layouts for your needs.

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Rise of The Commodore

EdgeProp Singapore

November 5, 2021

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Niche property developer Patrick Lam, director and founder of JBE Holdings, first ventured into the northern region of Singapore in 2010. This was when URA offered 14 land parcels for sale under the government land sales (GLS) programme for private landed housing. These 99-year leasehold sites are located within the established housing estate of Straits Garden and Sembawang Straits Estate developed by Singapore-listed Bukit Sembawang Estates in the 1960s. They are close to Sembawang Park and Sembawang Beach.

JBE’s Lam bid for, and won five land parcels at Inggu Road, Wak Hassan Drive and Penaga Place, emerging as one of the three biggest buyers at the land tender in Sept 2010, along with homegrown developers Fragrance Group and Goodland Group. JBE’s land purchases amounted to $43.35 million that day. The sites were developed into 53 terraced houses, fully sold and completed in 2012. He named them “The Oasis of the North’’.

Having gained a foothold in the north over a decade ago, he looked for more development opportunities in the region. “At that time, the northern part of Singapore wasn’t that well developed,” says Lam. “That’s why I believed in its growth potential.”

Read more at: https://www.edgeprop.sg/property-news/rise-commodore

JBE's The Commodore sells over 70% of units on launch weekend

Nov 28, 2021

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THE Commodore, a condominium development in Canberra, Sembawang, has sold 162 - or over 70 per cent - of its 219 units, as at 6 pm on Saturday (Nov 27) during its launch weekend.

The 99-year leasehold development by JBE Holdings consists of 6 5-storey blocks, with unit sizes ranging from 1 to 5 bedrooms, including 4 penthouses, of 4-to-5 bedrooms, with private lifts. It is about a 3-minute walk from Canberra MRT.

Some 93 per cent of buyers thus far are Singaporean, while close to 60 per cent are below the age 40, JBE said in a press release on Sunday. This points to a rising aspiration among young buyers to own private homes, it added.

"Apart from HDB upgraders, we are also seeing a growing number of young couples and singles booking the unit. They were attracted by the 1 and 2 bedroom units as they found the price affordable for starting their property journey, either for investment or their own stay," said Doris Ong, deputy chief executive of ERA Singapore, the development's exclusive marketing agency.

One- and 2-bedroom units, which were fully sold, were priced starting from S$700,000 and S$920,000 respectively. Three-bedroom units sold from just below $1.4 million, while 5-bedroom units, from 1,668 sq ft in size, sold from just below S$2.4 million.

Patrick Lam, director and founder of JBE, said that the company is extremely pleased with the launch weekend demand.

Factors that contributed to the "hot demand" include the proximity to the MRT and Bukit Canberra, a 12 ha development with facilities such as a polyclinic, senior care centre and indoor sports hall, added Marcus Chu, chief executive of ERA Singapore.

The Commodore achieves 74% sales on launch day

November 27, 2021

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SINGAPORE (EDGEPROP) - At the launch of The Commodore today, a total of 162 units were sold by 6pm, according to niche developer JBE Holdings. This translates into a take-up of 74% at the 219-unit, private condominium located at Canberra Drive. The average price of units sold is about $1,500 psf.

“Strong take-up was seen among both upgraders and investors from the northern region, particularly from Sembawang and Yishun,” says Patrick Lam, director of JBE. Buying interest was also registered among buyers from other parts of Singapore, such as Ang Mo Kio, Bishan, Choa Chu Kang and even Jurong, notes Lam.

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One- and two-bedroom units, including two-bedroom premium, have sizes from 464 to 786 sq ft. Prices for one-bedroom units started from $700,000 while two-bedroom units were priced upwards of $920,000. They make up 108 units in the development, and were quick to sell out, says the developer. Three- and three-bedroom premium units, sized from 969 to 1,023 sq ft, make up 36 units in the project, and 78% have been spoken for at prices from just below $1.4 million. About half of the 14 units of four- and five-bedroom premium units with private lifts were taken up. The four- and five-bedroom premium units are sizes from 1,412 to 1,679 q ft, and priced from just below $1.7 million and $2.4 million respectively.

Read more at: https://www.edgeprop.sg/property-new...les-launch-day