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Thread: Sing Holdings, Wee Hur to launch Parc Botannia

  1. #1
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    Default Sing Holdings, Wee Hur to launch Parc Botannia

    Sing Holdings, Wee Hur to launch Parc Botannia

    Nov 3, 2017

    Lee Meixian


    The Parc Botannia condominium in Fernvale Street, Sengkang, will be released for sale on Nov 11.

    The estate will comprise one-to five-bedroom units from 431 to 1,679 sq ft, with average prices of $1,280 per square foot (psf).

    One-bedders will start from $548,000 and two-bedders from $738,000. Three-bedroom units start from $1.04 million while four-bedders are from $1.3 million and five-bedroom flats from $1.6 million.

    The 99-year leasehold project, which should be finished by late 2021, will comprise four 22-storey towers with 735 units across a land area of 17,196 sq m. It is next to the Thanggam LRT station, a few stops away from Sengkang MRT.

    The condo will have various themed gardens and a community garden, and facilities including a 50m lap pool, a floating BBQ pavilion and a fitness clubhouse with a jogging track.

    Nearby facilities include an aviation-themed playground at The Oval @ Seletar Aerospace Park, an animal resort off Seletar West Farmway 5, Seletar Country Club, Sengkang Sports Centre and Sengkang Riverside Park.

    The development is also near the famous food street at Jalan Kayu, Seletar Mall, Greenwich V and Compass One.

    The development is being built by a 70:30 joint venture between Sing Holdings and Wee Hur Holdings.

    Sing Holdings chief executive Lee Sze Hao said he believes in launching now, when the sentiment is good, on the back of the improved economy.

    The joint venture clinched the site in a state tender in September last year, beating 13 others with a top bid at $287.1 million, or about $517 per square foot per plot ratio (psf ppr).

    Mr Lee said that he is confident about the launch, given that it is the only project to be released in the vicinity.

    The last launch in the area was High Park Residences more than two years ago by a Chip Eng Seng-led consortium. All its nearly 1,400 units are sold, as are units at other nearby projects such as Rivertrees Residences, Riverbank @ Fernvale and H2O Residences nearby.

    There is another executive condominium project, Anchorvale by Hoi Hup Realty and Sunway Developments, yet to be launched in the neighbourhood.

    Sing Holdings shares closed down half a cent to 49 cents, while Wee Hur ended one cent lower at 28 cents yesterday.

    http://www.straitstimes.com/business...-parc-botannia

  2. #2
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    Sing Hldgs, Wee Hur to launch Parc Botannia next weekend

    It will have one to five-bedroom units with sizes from 431 sq ft to 1,679 sq ft; selling prices will average S$1,280 psf

    Fri, Nov 03, 2017

    Lee Meixian


    The 99-year leasehold project will be located next to the Thanggam LRT station, which is a few stops away from the Sengkang MRT station. It is targeted to be completed by end-2021.
    PHOTO: SING HOLDINGS, WEE HUR HOLDINGS


    SING Holdings and Wee Hur Holdings will launch Parc Botannia, their new residential project along Fernvale Street in Sengkang on Nov 11.

    Even as other developers are holding back on launching their projects in anticipation of further price growth next year, Lee Sze Hao, chief executive officer of Sing Holdings, said he believes in launching now when the sentiment is good, on the back of an improved economic showing.

    The 70:30 joint venture between Sing Holdings and Wee Hur had clinched the site in a state tender in September last year, beating 13 others to submit the top bid at S$287.1 million, or about S$517 per square foot per plot ratio (psf ppr).

    Parc Botannia, when completed, will offer a range of one to five-bedroom apartments with sizes spanning 431 sq ft to 1,679 sq ft. Selling prices will average S$1,280 psf.

    By unit type, one-bedders will start from S$548,000; two-bedders from S$738,000; three-bedders from S$1.04 million; four-bedders from S$1.3 million and five-bedders from S$1.6 million.

    The condominium development will comprise four 22-storey towers with a total of 735 units. Sitting on a land area of 17,196 sq m, the 99-year leasehold project will be located next to the Thanggam LRT station, which is a few stops away from the Sengkang MRT station. It is targeted to be completed by end-2021.

    Nearby recreational facilities include an aviation-themed playground at The Oval @ Seletar Aerospace Park, an animal resort off Seletar West Farmway 5, Seletar Country Club, Sengkang Sports Centre and Sengkang Riverside Park. The development is also near the famous food street at Jalan Kayu, Seletar Mall, Greenwich V and Compass One.

    The condominium is nature-themed, flanked by Lorong Tanggam Park to its north-west and an upcoming 9,547 sq m park to its south. In addition, a cluster of 32 black-and-white colonial bungalows at the former Seletar airbase will be transformed into a foodie enclave and lifestyle hub with restaurants, cafes, spas and sports facilities.

    Condominium facilities include various themed gardens and a community garden, a 50-m lap pool, jacuzzi, tennis court, a floating BBQ pavilion and a fitness clubhouse with a jogging track.

    Mr Lee said he is confident about the launch, given that it is the only project to be launched in the vicinity currently. The last launch in the area was High Park Residences more than two years ago by a Chip Eng Seng-led consortium. All its nearly 1,400 units have been sold, as are units at other nearby projects such as Rivertrees Residences, Riverbank @ Fernvale and H2O Residences nearby.

    There is another executive condominium project, Anchorvale by Hoi Hup Realty and Sunway Developments, yet to launch in the neighbourhood.

    Mr Lee said that Sing Holdings has no more unbuilt land bank and outstanding developments with unsold units. To replenish its land bank, the developer is exploring government land sales sites and collective sale sites.

    Sing Holdings has taken part in one state tender (for Serangoon North Avenue 1) and two en bloc sale sites this year, to little success.

    Both avenues have been equally competitive in pricing, Mr Lee noted, and the aggressive bidding has intensified from just one or two projects initially to an islandwide phenomenon now.

    Asked if current tender prices are a concern and how developers can still protect their margins when they launch their projects, he replied: "That is the risk that every developer has to manage. It is a real risk that if the developer bids too high, it may not be able to sell at the price it wants to sell ...

    "We will continue bidding, and we will tender up to a point where we are comfortable and confident. Beyond that, we have to let it be - it's too bad. Different developers have different views on the market."

    Parc Botannia's sales gallery and show suites at the junction of Fernvale Road and Sengkang West Way are open daily from 10am to 7pm for public previews.

    Sing Holdings closed half a cent lower at S$0.49, while Wee Hur ended one cent lower at S$0.28 on Thursday.

    http://www.businesstimes.com.sg/comp...a-next-weekend

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