Get set for flood of large-scale launches

By Fiona Chan - Dec 24, 2006
The Straits Times

Among the developments slated for potential release next year are collective sites such as Amberville (above) in Marine Parade and Lucky Tower in Grange Road.

HOME buyers will be spoilt for choice next year, as up to 100 residential developments might be launched.

This could mean more than 14,700 possible new units, according to figures from property consultancy CB Richard Ellis (CBRE).

Several of these upcoming projects are relatively big, comprising more than 200 units each.

Almost half of these large-scale developments will be built on the many sizeable sites that were bought by bullish property developers in collective sales this year, as they banked on the recovering property market to stock up on land.

Others will be on plots won recently in government land tenders, such as Frasers Centrepoint's 400-unit condominium in Sinaran Drive.

However, taken as a whole, the upcoming launches represent a wide range of home options in terms of tenure, location, and possible price.

Slightly less than a third of them are 99-year leasehold properties, with the rest either freehold or holding 999-year leases, said CBRE.

Also, the developments slated for potential release next year are quite evenly spread among the prime, city-fringe and suburban areas, the consultancy added.

About a third are in Districts 9 and 10, another third are in popular city-fringe areas, including Telok Blangah and East Coast, and the rest are in suburban locations such as Choa Chu Kang and North Buona Vista.

One notable project to look out for is City Developments' One Shenton in Shenton Way, which could be one of the year's first launches.

Other early launches are likely to include Lippo Group's 252-unit condo in Kim Seng Road opposite Great World City, as well as Keppel Land's Keppel Bay phase two - a waterfront condo with a whopping 1,200 units that is part of the 4.86 million sq ft Keppel Bay mega development.