2017 sees 7 exciting upcoming projects

Slew of new residential projects are expected to attract keen interest from home buyers, and are set to start next year. Some sites to watch out for are:

1) Siglap Road

The 1.93ha site at Siglap Road was granted to a consortium led by Frasers Centrepoint for $624.18 million in January 2016. The price works out to about $858 psf per plot ratio. Nearby amenities include schools, shopping malls and the future Siglap MRT station. The 99-year leasehold website is expected to yield about 840 units.

2) New Upper Changi Road

Property developer Chip Eng Seng gained the tender for the 2.4ha site at New Upper Changi Road in February 2016 after submitting the highest bid of $419.38 million, or $761 psf on the gross floor area. The 99-year leasehold plot is close to the Tanah Merah MRT station, Changi Business Park and the Singapore University of Technology and Design. It may yield up to 724 units.

3) Clementi Avenue 1

The Clement Canopy, a 505-unit condominium in Clementi Avenue 1 in which UOL possesses a 50 percent stake, is expected to launch in the first quarter of 2017. The 1.3ha site was granted for $302.1 million ($615 psf per plot ratio) in December 2015. The 99-year leasehold land lot is within proximity to the National University of Singapore (NUS) and Jurong Lake District, which is just one station away from the Clementi MRT station.

4) Alexandra View

The 0.8ha site in Alexandra View was sold to Tang City Holdings in November 2015 for $376.88 million. The price works out to around $851 psf per plot ratio. Located next to Redhill MRT station, the 99-year leasehold site could give about 400 housing units. Several shopping malls and schools are also within the locality.

5) Bukit Batok West Avenue 6

Qingjian Realty was given the 1.5ha site at Bukit Batok West Avenue 6 in May 2016 after it submitted the top bid of $301.16 million. The purchase price translates to about $635 psf per plot ratio. This really is the Chinese developer’s first mixed-use development in Singapore, also it could assemble about 370 condo units on the 99-year leasehold site. Nearby amenities include schools, West Mall, the Bukit Batok MRT station as well as a polyclinic. Another Qingjian EC at Choa Choa Kang also likely to be launched too, Inz Residence EC.

6) Martin Place

The 99-year leasehold site at Martin Place in River Valley was sold to GuocoLand in July 2016 for $595.1 million ($1,239 psf per plot ratio). The 1.6ha website could potentially give about 445 units. The future Amazing World MRT station and several residential projects, including Rivergate Martin Place Residences and Martin 38 are located nearby.

7) Fernvale Road

A consortium comprising Sing Development and Wee Hur Development acquired the 1.7ha residential site in September 2016 after submitting the highest bid of $287.1 million, or $517 psf per plot ratio. The 99-year leasehold site in Sengkang can give 605 housing units. It really is close to the Thanggam LRT station, eateries along The Seletar Mall and Jalan Kayu.