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Thread: Oasis @ Elias (D18, 99 years, Chip Eng Seng)

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    Default Oasis @ Elias (D18, 99 years, Chip Eng Seng)

    http://www.businesstimes.com.sg/sub/...18454,00.html?

    Published February 11, 2009

    Launch of 6 more condos likely in next few months

    All but one of these private condo projects are on 99-yr-leasehold sites

    By KALPANA RASHIWALA


    DEVELOPERS of at least six mass-market private condos could release their projects in the next few months, riding on buying momentum generated lately by the Caspian condo near Jurong Lake - despite the recession.

    Property consultancy CB Richard Ellis (CBRE) tips Oasis @ Elias, The Gale on Flora Road in Upper Changi and Ascentia Sky on Alexandra Road among projects for possible launch in the next two quarters.

    Others include UOL's 646-unit condo at Simei Street 4, Frasers Centrepoint's project in Woodleigh Close and a 571-unit condo by NTUC Choice Homes at Lor 2/3 Toa Payoh near Braddell MRT Station.

    All but one of these projects are on 99-year-leasehold sites bought through government land tenders in the past 14 months. The exception is The Gale, a freehold condo to be developed by Tripartite Developers as the latest in its series of condo projects in the Upper Changi location.

    Frasers Centrepoint's recent sales spurt for Caspian has shown where the base price is for the mass market.

    The developer released the first 250 units of the 99-year-leasehold condo during a preview last week, at an average price of $580 per square foot (psf), followed by a second batch of about 130 better-facing units at $600 psf. So far, more than 330 units have been sold in the development, which is next to Lakeside MRT Station.

    BT understands the developer is likely to offer a further 150 units during a public launch this weekend - and that pricing is likely to be calibrated upwards.

    CBRE executive director Joseph Tan attributes the good response to Caspian partly to its timely launch, coinciding with the government's announcement in Parliament that it will upgrade, expand and transform Jurong into a business and recreational hub.

    'The project is also priced competitively, within the affordability of HDB upgraders,' he said. 'The sales momentum seen at Caspian is an encouragement to developers to get their projects ready for launch in the second and third quarters of 2009.'

    Knight Frank executive director Peter Ow said that in current conditions, mass-market suburban projects aimed at HDB upgraders are more likely to sell than projects in other segments.

    'After all, HDB upgraders buying private homes for their own occupation are the core group of buyers left today,' he said. 'Investors and 'specu-vestors' are lying low. And as for foreign buyers, investing in overseas properties might not be a priority right now.'

    Amid today's tight lending climate, owner-occupiers are also more likely to secure finance from banks than investors, provided they have the means to service their loans, Mr Ow said.

    He reckons that for condos in outlying areas near MRT stations, the price resistance for a new launch in today's market would probably be in the $600-650 psf range on average.

    Another analyst put a price resistance in a higher band of $750-$850 psf for condos in mature HDB estates such as Toa Payoh and Ang Mo Kio.


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    Have been looking at this site since it was awarded to CES.

    Some progress report attached.

    [email protected] Info Board onsite.
    http://forums.condosingapore.com/att...1&d=1240982313

    [email protected] Construction Progress 30 Oct 08
    http://forums.condosingapore.com/att...1&d=1240982389

    [email protected] Construction Progress 10 Dec 08
    http://forums.condosingapore.com/att...1&d=1240982389

    [email protected]as Construction Progress 11 Jan 09
    http://forums.condosingapore.com/att...1&d=1240982498

    [email protected] Construction Progress 8 Mar 09
    http://forums.condosingapore.com/att...1&d=1240982498

    [email protected] Construction Progress 18 Apr 09
    http://forums.condosingapore.com/att...1&d=1240982498

    About 2 weeks ago, all the big construction equipments were out of site and no much activity seen then. The whole site seem to be abandoned. Even guards are not present at all.

    Had checked with CES previously and the last comm in early Mar was :
    We regret to inform you that there are still transition changes to the design, unit mix (sizes) and layout and as such, we are unable to release any information at this stage.

    Anyone has any updates ?

    Thanks.

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    they held off the launch lor. http://www.chipengseng.com.sg/admini...%20Updates.pdf

    In Feb at $540psf, CES will make a $500k loss. Now Livia is touching $497psf. That will make their losses be in the millions if they go at $500psf.

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    got some feedback from the developer and i believe the launching is very soon; probably during the June holiday. Saw the showflat being renovated now and the site preparing some big launching posters.

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    Quote Originally Posted by gfoo
    they held off the launch lor. http://www.chipengseng.com.sg/admini...%20Updates.pdf

    In Feb at $540psf, CES will make a $500k loss. Now Livia is touching $497psf. That will make their losses be in the millions if they go at $500psf.
    Livia selling at 497psf ? I believe u refer to this transaction for 1711 sqft (850k quantum) in March. This is most likely a 3-bedroom ground floor unit which include a large PES (which is virtually no cost for developer) into the equation. To be realistic, even 2nd floor will cost you 600-602psf. If a 2nd floor 3 bedroom is selling at 500psf, the HDB resale price will crash back to 2002 level.

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    Quote Originally Posted by gfoo
    they held off the launch lor. http://www.chipengseng.com.sg/admini...%20Updates.pdf

    In Feb at $540psf, CES will make a $500k loss. Now Livia is touching $497psf. That will make their losses be in the millions if they go at $500psf.
    For Livia, the avg is still around $600psf. Only one unit is transacted at $497psf. Either is on a very low floor, or it has got some undesirable attributes that causes it to be transacted at such a low price.
    Last edited by Autonomy; 06-05-09 at 21:37.

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    Default Oasis ShowFlat

    Any idea is the sales office of Oasis @ Elias directly opposite Elias Mall?

    The white building near the cross junction?

    Seem like it will be ready in a few weeks time.

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    Quote Originally Posted by vinc1281
    Any idea is the sales office of Oasis @ Elias directly opposite Elias Mall?

    The white building near the cross junction?

    Seem like it will be ready in a few weeks time.
    Yes, that's the showroom & sales office.
    Been there a few times and I believe the sales may start during the coming school holiday.

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    Quote Originally Posted by Leewk
    Yes, that's the showroom & sales office.
    Been there a few times and I believe the sales may start during the coming school holiday.
    Thanks for the info.

    I will be interested to know if Oasis will influence prices of units in Pasir Ris, e.g. Livia, Riz Haven.

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    The wall papers are up at the show unit and construction site. So i'm expecting the launch soon!

    Let see what effect that will have on Livia.

    Feel free to arrange for a meetup together at the show unit. I will be going down for a look then we can share pointers. do PM me for arrangement. My wife will be going down with me.

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    Some updates.
    A drab looking Condo, believed those sea-facing (actually is straits facing) units are the one nearest the Elias CC. No Sea+Pool facing. The whole development is typical of CES type at AMK; all enclosed and basic quality fittings.
    Attached Images Attached Images

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    hi guys, FYI

    Developer : Chip Eng Seng
    Location : Elias Road
    Tenure : 99 yrs from 17/03/2008
    Exp TOP : 31 dec 2012
    Exp Completion : 31 dec 2015
    Site Area : 152,055 sqf
    No of units : 388
    Blks/Storeys : 6 blks of 18 Storey
    No of carparks: 399
    Est Plot Ratio: 3.18
    Est GFA : 483,875 sqf

    Unit Type

    2bdrms 88-112sqm / 947-1208sqf 95 units
    3bdrms 111-143sqm / 1195-1539sqf 211 units
    4bdrms 131-139sqm / 1410-1496sqf 73 units
    Penthouse 206-247sqm / 2217-2659sqf 9 units

    Expected to launch @ july 2009

    some picture @ http://www.propertyguru.com.sg/listing/401520


    Best regards
    Vince Lee
    ERA Preeminent Division

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    Quote Originally Posted by vincelee
    hi guys, FYI

    Developer : Chip Eng Seng
    Location : Elias Road
    Tenure : 99 yrs from 17/03/2008
    Exp TOP : 31 dec 2012
    Exp Completion : 31 dec 2015
    Site Area : 152,055 sqf
    No of units : 388
    Blks/Storeys : 6 blks of 18 Storey
    No of carparks: 399
    Est Plot Ratio: 3.18
    Est GFA : 483,875 sqf

    Unit Type

    2bdrms 88-112sqm / 947-1208sqf 95 units
    3bdrms 111-143sqm / 1195-1539sqf 211 units
    4bdrms 131-139sqm / 1410-1496sqf 73 units
    Penthouse 206-247sqm / 2217-2659sqf 9 units

    Expected to launch @ july 2009

    some picture @ http://www.propertyguru.com.sg/listing/401520


    Best regards
    Vince Lee
    ERA Preeminent Division
    Looks like there is going to be a MSCP. and for the plot area, the 6 blocks does look quite cramped up. But those facing elias mall will be getting unblocked sea view.

    Interested to know the price for the 3BR and see how it will affect pricing in nearby projects like Livia.

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    Default elias mall

    Elias mall is a very small mall, with limited shops. Definitely not a selling point. As for seaview ... i am not sure. It like a condo nested among HDB with a small mall beside it.

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    In terms of location, would Livia be better since it is nearer to MRT station ? (Oasis is slightly nearer to sea-side.)

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    Default ???????

    no offence, the location CMI

    not even near to mrt. must take feeder bus.

    elias mall so hopeless. at most can call middle class provision shops with wet market.

    sooo far from town.

    time to consider moving elsewhere unless u work for sia.

    just some sanity check. no need to rush


    Quote Originally Posted by ClemenceLY
    In terms of location, would Livia be better since it is nearer to MRT station ? (Oasis is slightly nearer to sea-side.)

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    Any one knows how is the preview results so far ?

    Lukewarm ?

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    Quote Originally Posted by DKSG
    Any one knows how is the preview results so far ?

    Lukewarm ?
    Passed by the showflat .. ready for launch but said to be only "akang datang" ... guess u'll have to stay tuned since it should be coming soon.

    But as said in another previous post, alot of unfav factors hard to ignore, so don't think this is gg to be another [email protected] I hope ..

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    From BT today, looks like Oasis will be launched very soon followed by the Gale.

    Chip Eng Seng group's Oasis @ Elias condo is expected to be released soon, as early as this week. The 99-year project has a total 388 units and should give some competition to City Developments' Livia condo nearby.
    Over at Flora Road, in the Upper Changi area, Tripartite Developers is getting ready to launch its freehold condo, The Gale. A Facebook page for the project will be launched to help market the project.
    The Gale comprises 329 units in nine blocks. The eight-storey project has a range of unit sizes, from one-bedders to four-bedroom apartments with a roof terrace.
    Buyers will have the option of signing up for IAS. Buyers and current owners of a Tripartite property will enjoy a loyalty bonus (a 0.5 per cent price discount) if they buy a unit at The Gale, and a referral fee (0.5 per cent of purchase price) if they get a friend or family member to buy a unit in the condo.
    Tripartite is a joint venture involving Hong Leong Holdings, City Developments and TID Pte Ltd. Hong Leong Holdings, which issued a press statement on the project yesterday, did not give an indication of pricing. 'The project is expected to be launched to the public in July,' it added.

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    For what I understood from CBRE (sales agent) [email protected] will have a soft launch this Saturday. There are only about 6 units of sea-facing 2 bedrooms, the rest are 3/4 BR. CES is trying to sell near to current Livia pricing @ S$610 ave. I'll be more keen if they are selling for < S$560 psf.

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    http://www.businesstimes.com.sg/sub/...38787,00.html?

    Published June 23, 2009

    New projects enjoy strong weekend sales

    [email protected] Woodleigh drew mostly S'poreans, specu-vestors due to its location

    By KALPANA RASHIWALA


    (SINGAPORE) There seems to be no let-up in home sales.


    Selling like hotcakes: 302 of the total 330 units in the [email protected] Woodleigh condo were sold between Friday and Sunday. The average price of the 99-year leasehold project near Potong Pasir MRT Station is about $780 per square foot


    The Gale: A Facebook page for Tripartite Developers' project will be launched to help market it. It is expected to be launched to the public in July

    Frasers Centrepoint is said to have sold 302 of the total 330 units in its [email protected] condo since Friday. The average price of the 99-year leasehold project near Potong Pasir MRT Station is about $780 per square foot. Buyers who opt for an interest absorption scheme (IAS) offered by the developer have to pay 3 per cent more.

    The 15-storey development comprises five blocks. About 40 per cent of the units are studios, two-bedders as well as apartments with two-bedrooms plus study. The remaining 60 per cent are three- and four-bedders.

    The average price of a studio unit is around $400,000 while a two-bedder typically costs between $650,000 and $670,000.

    The project drew mostly Singaporean buyers. In addition to attracting those who bought units for their own occupation, the project is said to have drawn a fair bit of specu-vestors.

    [email protected]'s location next to the future Stamford American International School gives it a strong investment appeal.

    'Some people bought with a view to leasing the units to expat families (for the bigger units) or to the single teachers at the school (for studios and two-bedders),' a market watcher said.

    The project is being marketed by DTZ and ERA.

    Over at Devonshire Road, Allgreen Properties sold 130 units last week at One Devonshire, a 36-storey freehold condo with a total 152 units.

    The average price of the units sold is understood to be $1,800 psf, assuming a normal progress payment scheme.

    Allgreen is charging buyers a 2 per cent price premium for IAS. For those who opt for the deferred payment scheme, the price premium is 3 per cent.

    Around 65 per cent of the 130 buyers have opted for normal progress payment. Knight Frank is marketing the development.

    Chip Eng Seng group's Oasis @ Elias condo is expected to be released soon, as early as this week. The 99-year project has a total 388 units and should give some competition to City Developments' Livia condo nearby.

    Over at Flora Road, in the Upper Changi area, Tripartite Developers is getting ready to launch its freehold condo, The Gale. A Facebook page for the project will be launched to help market the project.

    The Gale comprises 329 units in nine blocks. The eight-storey project has a range of unit sizes, from one-bedders to four-bedroom apartments with a roof terrace.

    Buyers will have the option of signing up for IAS. Buyers and current owners of a Tripartite property will enjoy a loyalty bonus (a 0.5 per cent price discount) if they buy a unit at The Gale, and a referral fee (0.5 per cent of purchase price) if they get a friend or family member to buy a unit in the condo.

    Tripartite is a joint venture involving Hong Leong Holdings, City Developments and TID Pte Ltd. Hong Leong Holdings, which issued a press statement on the project yesterday, did not give an indication of pricing. 'The project is expected to be launched to the public in July,' it added.

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    How to register for the preview for this project? The 2 bedroom sea view units sounds interesting, if the price is right that is.

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    You can call CBRE agent to register, the agent told me the seaview unit might go as high as 700psf!!! Wondering who will buy that, this is not East Coast area where the seaview is really unblock!!
    The preview will start from this Sat 3pm onward.

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    so is there going to be a queue forming here as well? already had queues at Vista Residence and one building up at Residences @ Kiliney, so how about one more starting in Pasir Ris?

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    Quote Originally Posted by Kuchi
    You can call CBRE agent to register, the agent told me the seaview unit might go as high as 700psf!!! Wondering who will buy that, this is not East Coast area where the seaview is really unblock!!
    The preview will start from this Sat 3pm onward.
    Preview starts at 3pm?? I was told it will start at 1pm.

    anyway I booked an appt at 5pm. see if any forumers will like to meet up at the showroom and share experiences and pointers.

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    wah, if there is going to be a queue like recent launches of [email protected], vista residence, you are not going to get a unit you like at 5pm (they would probably bring forward the launch to the morning) and if you are there just to view, it would still be too crowded.


    Quote Originally Posted by vinc1281
    Preview starts at 3pm?? I was told it will start at 1pm.

    anyway I booked an appt at 5pm. see if any forumers will like to meet up at the showroom and share experiences and pointers.

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    I don't think this will be that crowded...unless it is priced below 580psf. Location is quite ulu.

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    Drove past the site about 5:30pm today, saw quite some people inside the showroom. There is also a tentage setup beside the showroom with lots of chairs, probably expecting a big crowd or a long queue...

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    Anyone went for the preview and what is the psf ?

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    Just went for the preview today. The response is lukewarm, no queues but seats are full. The cheapest of the cheapest 2 bedroom unit is 02-08, face HDB block, cost 614k by IAS, normal payment is 3% less. Floor area is 980sqft. Only block 60, 62 and 66 are released.

    03-12 cost 624k IAS 980sqft
    04-06 cost 620k IAS 947sqft
    04-08 cost 622k IAS 980sqft

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