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Thread: Lake Life first EC to beat 15-month sale-launch rule

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    Default Lake Life first EC to beat 15-month sale-launch rule

    http://www.businesstimes.com.sg/arch...-rule-20140930

    Published September 30, 2014

    Lake Life first EC to beat 15-month sale-launch rule

    By lee meixian

    [email protected] @LeeMeixianBT


    [SINGAPORE] The Lake Life executive condominium (EC) in Jurong, which is to be launched for sale by e-applications on Oct 4, is set to become the first EC to beat the 15-month period stipulated by the government to launch units for sale.

    According to a government ruling introduced last year, developers who acquired EC land parcels after Jan 12, 2013, can launch units for sale only after 15 months from the date of award of the sites or after the completion of foundation works, whichever is earlier.

    For the consortium led by Evia Real Estate, the completion of foundation works came earlier, slightly over 14 months from the date of award of the site.

    Vincent Ong, co-managing partner of Evia Real Estate, said the developers drew up the design and drawing plans even before tendering for the land, which allowed it to turn around the submission of its plans much faster.

    "(We) also managed to complete their foundation works for Lake Life within eight months. The industry takes an average of nine to 12 months for foundation works to be completed.

    "The sub-contractor we used, HSL Constructor, has its own proprietary piling techniques, allowing for the foundation works of Lake Life to be completed within a shorter time frame, and with a lot less noise."

    Each consortium partner also had to tender for the construction of the EC. It was not taken for granted that one of them would win the contract, Mr Ong said.

    "Builders are tougher with builders. They know what is expected, and they are able to 'countercheck' the eventual builder we appointed: Wee Poh Construction, a subsidiary of Ho Lee Group. When builders know their industry competitors are involved in the project, they deliver top quality work. It is a pride thing. They want to impress their own industry competitors too."

    The Lake Life EC comprises two-bedders from 969 sq ft, three-bedders from 1,033 sq ft and four-bedders from 1,195 sq ft. Prices range from S$880 to S$890 per square foot.

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    prices not cheap for EC that is so far away from MRT...

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    Quote Originally Posted by litechaser View Post
    prices not cheap for EC that is so far away from MRT...
    It's end of 2014 plus all the heat in jurong . it's almost expected pricing.

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    THE developers of the Lake Life executive condominium (EC) have confirmed collaborations with partners such as True Fitness and Tennis Allegiance Group International (TAG) to provide tennis, yoga, hot yoga, dance and swimming lessons for residents.
    Most of these lessons will be free for the first year and subsidised thereafter.
    Vincent Ong, managing partner of Evia Real Estate, which leads the consortium of developers, said it was going beyond providing facilities and hardware, which are passive, to create "software" with classes, activities and programmes.
    "Lake Life is poised to upend conventions in condominium living," he said.
    Maintenance fees at the 546-unit EC will be about S$40 per share value, amounting to around S$280 for a three-bedder - on a par with or just slightly higher than other ECs.
    Lake Life on Thursday said it had engaged True Fitness to equip the condo with a gym, while True Yoga will also be conducting a variety of indoor classes at the EC, either at the Yoga Garden or the special hot yoga studio.
    Families will enjoy free tennis and swimming lessons for children for a year, thanks to the EC's partnership with TAG.
    In addition to the swimming pool, Lake Life will also offer a water aerobics pool and an elderly water therapy zone, with swimming lessons by Start Young, taught within the convenience of the development.
    Another tie-up with Dancepointe Academy, Singapore's premier dance school for ballet, jazz, hip-hop and contemporary dance, will help provide complimentary weekly ballet lessons for young children, while older children and parents can opt to learn K-pop, jazz or hip-hop dance moves.
    Besides fitness activities, Lake Life will also organise cooking programmes for its residents at sky dining facilities fitted with Smeg Teppanyaki cooking stations. It will also host baking classes for children.
    The developers will also be providing free shuttle bus services to Lakeside MRT Station.
    E-applications for the EC start on Oct 4 and end on Oct 12. Bookings start on Nov 8.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Never belief in this "free shuttle bus service" thing because they will almost always be removed a few years after the condo TOP and developer already handed over to MCST formed !!!!!!!!!!!!!!!!!!

    Quote Originally Posted by Ringo33 View Post
    THE developers of the Lake Life executive condominium (EC) have confirmed collaborations with partners such as True Fitness and Tennis Allegiance Group International (TAG) to provide tennis, yoga, hot yoga, dance and swimming lessons for residents.
    Most of these lessons will be free for the first year and subsidised thereafter.
    Vincent Ong, managing partner of Evia Real Estate, which leads the consortium of developers, said it was going beyond providing facilities and hardware, which are passive, to create "software" with classes, activities and programmes.
    "Lake Life is poised to upend conventions in condominium living," he said.
    Maintenance fees at the 546-unit EC will be about S$40 per share value, amounting to around S$280 for a three-bedder - on a par with or just slightly higher than other ECs.
    Lake Life on Thursday said it had engaged True Fitness to equip the condo with a gym, while True Yoga will also be conducting a variety of indoor classes at the EC, either at the Yoga Garden or the special hot yoga studio.
    Families will enjoy free tennis and swimming lessons for children for a year, thanks to the EC's partnership with TAG.
    In addition to the swimming pool, Lake Life will also offer a water aerobics pool and an elderly water therapy zone, with swimming lessons by Start Young, taught within the convenience of the development.
    Another tie-up with Dancepointe Academy, Singapore's premier dance school for ballet, jazz, hip-hop and contemporary dance, will help provide complimentary weekly ballet lessons for young children, while older children and parents can opt to learn K-pop, jazz or hip-hop dance moves.
    Besides fitness activities, Lake Life will also organise cooking programmes for its residents at sky dining facilities fitted with Smeg Teppanyaki cooking stations. It will also host baking classes for children.
    The developers will also be providing free shuttle bus services to Lakeside MRT Station.
    E-applications for the EC start on Oct 4 and end on Oct 12. Bookings start on Nov 8.

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    Quote Originally Posted by teddybear View Post
    Never belief in this "free shuttle bus service" thing because they will almost always be removed a few years after the condo TOP and developer already handed over to MCST formed !!!!!!!!!!!!!!!!!!
    Dont be silly. The free shuttle service is always the important step before it become permanent even if residence have to pay for it.

    Perhaps you have been living in old estate for too long.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    CC in a Condo??

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    Shutter service? Meh!

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    Really?
    The owners of those private estates so poor that they need "free" shuttle service to take MRT?

    Quote Originally Posted by Ringo33 View Post
    Dont be silly. The free shuttle service is always the important step before it become permanent even if residence have to pay for it.

    Perhaps you have been living in old estate for too long.
    Quote Originally Posted by teddybear View Post
    Never belief in this "free shuttle bus service" thing because they will almost always be removed a few years after the condo TOP and developer already handed over to MCST formed !!!!!!!!!!!!!!!!!!

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    Quote Originally Posted by teddybear View Post
    Really?
    The owners of those private estates so poor that they need "free" shuttle service to take MRT?
    I honestly dont see any connection between having bus condo shuttle service and being poor because many condo around Singapore also provide such service and there is no reason to believe anyone is poor.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Far flung Jurong at this kind of pricing is indeed steep for current market.
    Hence the need to Introduce gimmicky stunts such as tie up with true fitness and tag.

    However I believe the take up should be healthy as jurong really shortage for upgraders.
    (Not referring to air)

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    Quote Originally Posted by AssetRichMoneyPoor View Post
    Far flung Jurong at this kind of pricing is indeed steep for current market.
    Hence the need to Introduce gimmicky stunts such as tie up with true fitness and tag.

    However I believe the take up should be healthy as jurong really shortage for upgraders.
    (Not referring to air)
    The underlying reason for any pricing is always due to supply and demand equilibrium, especially during depressing condition like now.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    Really? It should be just your opinion.
    As with many other postings everyone noticed

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    Quote Originally Posted by AssetRichMoneyPoor View Post
    Really? It should be just your opinion.
    As with many other postings everyone noticed
    Have you not study economic basic 101 about the law of supply and demand.
    Have you not been told that using multiple forum account will not make you smart?
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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    What happen when the Durian don't drop.

    Over 1200 applications for Lake Life

    The 546-unit Lake Life executive condominium (EC) in Jurong Lake District attracted more than 1,200 e-applications over the long weekend, with one-third of applicants being first-time buyers.

    Developed by an Evia Real Estate-led consortium, the 99-year leasehold project comprises two- to five-bedroom units ranging from 743 sq ft to 1,711 sq ft.

    Listing details on PropertyGuru show that the indicative price for a two-bedder starts from around $650,000. (Cheaper than 5 room resale HDB in mature estate)

    Strong demand was expected as it is only the second EC to enter the market in 2014 and the first to be launched in Jurong in 17 years – the last one was Summerdale in 1997. Furthermore, second-timers do not need to pay the HDB resale levy as the site tender was won before 2013.

    Lake Life is also the first EC to beat the 15 months government regulation to launch e-applications.

    Applicants said they were attracted to the location, which is close to several shopping malls in Jurong East such as JEM and Westgate, as well as the development’s active living concept.

    The developer recently announced a partnership with True Fitness to integrate mental and physical wellness programmes in the design of Lake Life. Other facilities that will promote active living include sheltered bicycle parking bays, pet zones and urban vegetable farms.

    “We had a lot of conversations with home buyers who were looking to upgrade to condominiums. We asked them what they were looking for and listened to the kind of lifestyle they aspired towards. And we implemented these in Lake Life,” said Vincent Ong, Managing Partner of Evia.

    E-applications close on 12 October while bookings open on 8 November. Lake Life is expected to obtain TOP in December 2017.

    Past EC projects by Evia-led consortiums include Watercolours and Heron Bay, launched in 2011 and 2012 respectively.

    Image: The launch of Lake Life EC drew big crowds over the long weekend.



    Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email [email protected]

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    Quote Originally Posted by Ringo33 View Post
    Have you not been told that using multiple forum account will not make you smart?
    And you have been told umpteen times you are stupid or idiotic (not me, i only contest your warped logic).
    How do you feel?

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    Quote Originally Posted by AssetRichMoneyPoor View Post
    And you have been told umpteen times you are stupid or idiotic (not me, i only contest your warped logic).
    How do you feel?
    stop being childish, just stick to one forum account will do. Changing forum account is not going to change the quality of your post.

    And please get the fact right, EC are not mean for upgraders, they are mainly reserved for 1st timer with only 30% for 2st time applicants.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

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