A Treasure Trove - New condo at Punggol by Sim Lian Group

[bargain hunter]

actually SL's balance sheet is quite strong with more pre-sold units than landbank. they are even paying out a lot of dividends because more cash is coming in in the next few years.

on a 2 or 3 year cash inflow, hence, debt level reduction basis, lian beng, sim lian or even chip eng seng are stronger than even capitaland or keppel land. but of course in terms of absolute financial might and willingness of banks to lend to the biggies (esp during crisis), that's a different story.

Agreed. SL is not a big player. quickly get it off the balance sheet!
In bad times, no bank is going to lend to SL. whereas FEO can even ransom all the banks to continue supporting it.

hey mega french banks open at 13% down!

[Laguna]

First time drove around Punggol....as there was so much talks on this project..so kapo kapo..

Observations :

potential supply of land is huge...really huge
HDB flats everyway...not so bad, majority is new and well designed
hardly any business activities
very far....very very far to me

For this particular project
1. price wise...attractive for upgrader, but investor is to avoid
2. design : block to block distance 20m...typical SL's projects...

if this place got good upside, the entiire Sg will chong...

[linchong84]

Why dhoby gaut (most pple don't even go there)? Try Raffles Place or Orchard, then Woodlands win handsdown right with no insane transfers? the NE line transfer is equivalent to 4 stations because it's like walking 1km. I'm just trying to say Punggol is far lah, because people try to compare against other "D19" condos which are far closer to town. D19 is very big lor.

by your logic, the entire NEL properties would have suck liao. But the prices have been holding up well proving that market and consumers don't mind the walk at dhoby gault station..

I think most comparisons are betw ATT and luxurie since they are 1 mrt station apart.. so far, nobody compare it to kovan residences right?

[amk]

if this place got good upside, the entiire Sg will chong...

my feel too. sorry if it sounds a bit harsh... it reminds me of 1996 Pasir Ris doing 900psf...

[victorchoo]

Punggol at the northeastern tip is the farthest from the city centre or future downtown as can be liao - could be worse than Woodlands. It's the far northeastern part of SG (D19 is huge). Second downtown is in the southwest. This one really just for upgrader who doesn't mind the distance. Not forgetting the pollution from JB factories, which is worse than Tuas because Malaysia don't care about emission laws.

What pollution? I have stayed in Punggol for 10 yrs and spent my precious 2.5 yrs serving NS at Tuas and Jurong. And I have to say that whatever you've said is not true.

At all.

[ulrich76]

everyone will say their area is good one la. if you stay woodlands all your life ask you to stay at cairnhill you also not used to it.

being a teochew born in punggol pig farm area, then grew up in hougang, no where else will do for me.

NE line being less crowded for now as compared to NSEW line and KPE's convenience are hard facts I guess. Of course these may change as Punggol becomes more populated

[phantom_opera]

An alternative is to buy resale units at similar psf @ where Daiso is going to open in the East ..

An upgrader will only consider own needs, an investor will consider renter's need / other development potentials .. frankly speaking if everyone is investment savvy, Singapore developers must close half liao

One very simple strategy is to see where McDonald / Daiso is ...

[victorchoo]

McD, KFC and Popeye is currently at the far far end of Punggol though....

[DC33_2008]

IMO, I think punggol will be a better place to stay ina few years time when there are more amenities and activities in this area. Price will move north but cannot comment on how much.

my feel too. sorry if it sounds a bit harsh... it reminds me of 1996 Pasir Ris doing 900psf...

[azeoprop]

my feel too. sorry if it sounds a bit harsh... it reminds me of 1996 Pasir Ris doing 900psf...

Actually reminded of the time 3 years ago when CDL spoil market launched their Livia at below market expected price to move units just before the financial crisis.

[land118]

Name of Announcer *SIM LIAN GROUP LIMITED Company Registration No.200004760C Announcement submitted on behalf of SIM LIAN GROUP LIMITED Announcement is submitted with respect to *SIM LIAN GROUP LIMITED Announcement is submitted by *Ang Lay Hua Designation *Company Secretary Date & Time of Broadcast12-Sep-2011 17:46:24 Announcement No.00079

Sim Lian Group releases additional units of A Treasure Trove following brisk take up

Singapore, September 12, 2011

– Main board listed Sim Lian Group Limited (‘Sim Lian
Group’) released an additional 280 units of A Treasure Trove for sale, taking total units
released to 580 units. The first phase of the 882-unit private condominium in Punggol
Central was officially launched on Friday morning with 300 units released. 466 units
have been sold as at 5pm today. The average price remains unchanged at S$866 psf.
“The positive response to A Treasure Trove in Punggol reflects buyers’ strong demand
for quality developments in prime locations. Sim Lian Group took a long-term
perspective in establishing this development, introducing numerous water features to
enhance the watertown living experience in Punggol,” said Mr Kuik Sing Beng,
Executive Director of Sim Lian Group. “To date, 80 per cent of the units released at A
Treasure Trove have been snapped up and there continues to be a steady stream of
prospective buyers to our showroom. Sim Lian Group will progressively release more
units to meet the market’s demand.”
Approximately 80 per cent of buyers of A Treasure Trove have HDB addresses with
majority within the vicinity of Punggol and Sengkang. 93 per cent of the buyers are

Singaporeans.

[phantom_opera]

Laguna should have a column in Straits Times, not Colin Tan

This project 93% bought by Singaporeams, EuHabitat about same price half were bought by mainland Chinese ... who are the smart ones only time can tell?

[azeoprop]

ATT is officially the smash hit of 2011 sales!

[phantom_opera]

ATT is officially the smash hit of 2011 sales!

Caspian @ 2009, ATT @ 2011

[stalingrad]

Name of Announcer *SIM LIAN GROUP LIMITED Company Registration No.200004760C Announcement submitted on behalf of SIM LIAN GROUP LIMITED Announcement is submitted with respect to *SIM LIAN GROUP LIMITED Announcement is submitted by *Ang Lay Hua Designation *Company Secretary Date & Time of Broadcast12-Sep-2011 17:46:24 Announcement No.00079

Sim Lian Group releases additional units of A Treasure Trove following brisk take up

Singapore, September 12, 2011

– Main board listed Sim Lian Group Limited (‘Sim Lian
Group’) released an additional 280 units of A Treasure Trove for sale, taking total units
released to 580 units. The first phase of the 882-unit private condominium in Punggol
Central was officially launched on Friday morning with 300 units released. 466 units
have been sold as at 5pm today. The average price remains unchanged at S$866 psf.
“The positive response to A Treasure Trove in Punggol reflects buyers’ strong demand
for quality developments in prime locations. Sim Lian Group took a long-term
perspective in establishing this development, introducing numerous water features to
enhance the watertown living experience in Punggol,” said Mr Kuik Sing Beng,
Executive Director of Sim Lian Group. “To date, 80 per cent of the units released at A
Treasure Trove have been snapped up and there continues to be a steady stream of
prospective buyers to our showroom. Sim Lian Group will progressively release more
units to meet the market’s demand.”
Approximately 80 per cent of buyers of A Treasure Trove have HDB addresses with
majority within the vicinity of Punggol and Sengkang. 93 per cent of the buyers are

Singaporeans.

when stocks drop like rocks, condos sell like hot cakes. is there a correlation or do singaporeans just not read newspapers, like ostriches?

[Xan]

when stocks drop like rocks, condos sell like hot cakes. is there a correlation or do singaporeans just not read newspapers, like ostriches?

Singaporean read newspaper everyday, but they only read where got 30% iPad sales or cheap new condo launch.

[azeoprop]

Singaporean read newspaper everyday, but they only read where got 30% iPad sales or cheap new condo launch.

...and H&M new store launch also haa haa...

[ecimbew]

to hit 1kpsf for sunglade oredi vy good....without megamall and mrt is impossible to achieve tat. beacon heights area much nearer to town r doing about the same px and they r 99lh or FH and mrt and mall r missing

Beacon Heights is a 999 LH land that is approx 64K sq ft. It is near to Boon Keng MRT. Ok I am not going debate how near or how fast you need to walk to the train station but well, I grew up there so I am familiar with the place. Beacon Heights has lots of potential but I am glad the price has stayed sane unlike Balestier, which is across the expressway, or Lavender, Potong Pasir and Farrer Park which are one MRT stop away.

[ecimbew]

2. QE3, QE3.5, QE4 will keep coming out if Dow goes below 10k ....

Does QE3 means our interest rate will stay low? Curious?

[yjcai]

my feel too. sorry if it sounds a bit harsh... it reminds me of 1996 Pasir Ris doing 900psf...

livia ftw!

[Kenshinto80]

Availability of parking lots is a big concern here. Why can't Sim Lian give a minimum of 1 to 1?

[DaytonaSS]

Thought about it. I went thru propertyguru to search for a 2BR under $800k in the whole S'pore. it yielded only one result (not including Geylang) - one unit at Maysprings Bt Panjang and its asking $799k

http://www.propertyguru.com.sg/listi...sale-northvale

my friend got 1 unit there, rent out 3k. seems quiet good to me

[ecimbew]

http://www.propertyguru.com.sg/listi...sale-northvale

my friend got 1 unit there, rent out 3k. seems quiet good to me

Northvale is next to Chua Chu Kang MRT and Lot 1.

[I_RIDE_DEEP]

Availability of parking lots is a big concern here. Why can't Sim Lian give a minimum of 1 to 1?

This is what i was worried of all along since most will have one car.

[hyenergix]

This is what i was worried of all along since most will have one car.

Singapore's policy for passenger cars might be 0 or negative growth in near future. No point providing so many parking lots.

[bargain hunter]

given the small piece of land area and the need to conserve matilda house (no more space for MSCP), 1 to 1 would mean 882 lots, go down to Basement 5 or basement 10?

Availability of parking lots is a big concern here. Why can't Sim Lian give a minimum of 1 to 1?

[victorchoo]

SL is expecting 1/4 of the 300 units of 2br and 2+s does not own a car... it's quite a daring assumption though... i'm just wondering how's the parking arrangement gonna be like during festive seasons...

[kane]

visitors got to park at the road side.

[victorchoo]

visitors got to park at the road side.

and how many will that be during CNY? 100? 200? or 400?

I think this carparking issue is the major turnoff for me... furthermore the project is at the central. supposedly the busiest part of the town. parking along the roadside will definitely not be possible with so many cars...

[Stoney Stone Stone]

and how many will that be during CNY? 100? 200? or 400?

I think this carparking issue is the major turnoff for me... furthermore the project is at the central. supposedly the busiest part of the town. parking along the roadside will definitely not be possible with so many cars...

I think Carpark is the major issue.
For example, i do not have any car, but I still pay for monthly Maintenance Fee. I will like to register my friend or relative car that stay near to the condo. So they get the free parking. In this case, 1 unit 1 lot is important.