PROJECT DETAILS
The Housing and Development Board (HDB) has sold 2 sites for condo development and a mixed development namely in Woodleigh Lane and Upper Serangoon Road as part of Government Land Sales (GLS) in 3rd quarter 2017. The land parcel in Woodleigh Lane is bounded by Woodleigh Lane and Youngberg Terrace and the other is bounded by Woodleigh Link, a new road, Bidadari Park Drive and Upper Aljunied Road. They are both located along Upper Serangoon Road, at the Rest of Central Region, North- Eastern of Singapore.
New Condo in Woodleigh Lane has a site area of 210,403 square feet and will house approximately 735 residential apartments and the Mixed Developement along Upper Serangoon Road has a site area of 274,479 square feet and will house approximately 825 residential apartments with 161,460 square feet of commercial space.
New and Upcoming condos at Woodleigh are located in the new satellite town of Bidadari. They will be next to the upcoming Alkaff Courtview, a HDB estate. Future residents of New Condos in Woodleigh will also be able to enjoy great greenery view as it will overlook the future Alkaff Lake.
New condos in Woodleigh is nearby to other mixed commercial developments and they include The Venue Residences and Shoppes and Poiz Residences, which are 1 MRT Station away at Potong Pasir MRT Station. Other residential developments in the vicinity inlcude The Quinn, The Maisons, Blossoms @ Woodleigh, 8 @ Woodleigh, Nin Residences, Sant Ritz, Sennett Residences, Woodsville, 18 Woodsville and Woodsville Mansion.
New Condos in Woodleigh- Bidadari New Town- Connectivity
Future residents of New Condos in Woodleigh will have great accessibility as they standing next to Woodleigh MRT Station, operating the North-East Line. It will take 9 minutes’ train ride to the Dhoby Ghaut MRT Interchange and 13 minutes’ train ride to Chinatown MRT Interchange. 1 station away is Serangoon MRT Interchange wherre residents can transit to the Circle Line. Future residents will also be able to transit to Downtown Line at the Little India Station which is just 4 train stations away.
For drivers, it will take approximately 6 minutes drive to Orchard Shopping Belt and 9 minutes away from the Central Business District (CBD), City Centre via Central Expressway (CTE) which has easy conduit to the Pan Island Expressway (PIE), Kallang Expressway (KPE) and Tampines Expressway (TPE) which makes driving convenience to any parts of the Singapore a breeze.
New Condos in Woodleigh- Bidadari New Town- Amenities
With the convenience of having a commercial space right at the doorsteps of their homes, future residents of New Condos at Woodleigh will have no probl finding amenities for fulfilling their dining, shopping and also entertainment needs. Besides that, future residents can also take a short train right to Potong Pasir MRT Station when the upcoming The Poiz Centre and the Venue Shoppes is located. Alternatively, they could also travel to Serangoon MRT Station, where one of the biggest shopping centre in the North East Region, The Nex Mall is located.
New Condos in Woodleigh- Bidadari New Town- Education
School that are within New Condo at Woodleigh Link vicinity include Cedar Primary School, Maris Stella High School (Primary), Yangzheng Primary School, St Andrew’s Junior School, St. Gabriel’s Primary School, First Toa Payoh Primary School, Pei Chun Public School, Cedar Girls’ Secondary School, Maris Stella High School (Secondary), St. Gabriel’s Secondary School, St. Andrew’s Secondary School, Zhonghua Secondary School, Bartley Secondary School and CHIJ Katong Convent.
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| Project | Woodleigh Lane New Condo- One |
| Developer | CEL Unique Development |
| Location | Woodleigh Lane, Bidadari New Estate |
| District | 13 |
| Tenure | 99 years lease |
| Site Area | 19,547 square metres/ 210,403 square feet |
| GFA: | 58,641 square metres/ 631,211 square feet |
| Plot Ratio | 3.5 |
| Expected TOP: | |
| Total Units | Approximately 735 residential apartments |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner can buy |
| Project | Condo in Mixed-Use Development in Upper Serangoon Road- Two |
| Developer | Elara 1 and Callisto 1 (SPH Holdings and Kajima Development) |
| Location | Upper Serangoon Road, Bidadari New Estate |
| District | 13 |
| Tenure | 99 years lease |
| Site Area | 10,097.1 square metres/ 108,685.1 square feet |
| GFA: | 30,292 square metres/ 326,063 square feet |
| Plot Ratio | 3.5 |
| Expected TOP: | |
| Total Units | Approximately 825 residential apartments |
| Total Carpark | |
| Development | Residential apartments with Commercial at 1st storey |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner can buy |
LOCATION MAP and AMENITIES
Amenities Near New Condo at Woodleigh Link
| Category | Important Amenities Near New Condo at Woodleigh Link | Approximate Distance |
| Train Stations | Woodleigh (NE11) | 0.1km |
| Bus Stop | Woodleigh Stn (Bus: 147, 107, 107M, 133, 13, 853, 853C, NR6) Woodleigh Stn (Bus: 13, 853, 853C, 133, 107, 107M, 147) |
0.1km 0.1km |
| Supermarkets | Fairprice (Potong Pasir Community Centre) Prime (Joo Seng) Cold Storage (NEX) Giant (Kim Keat Ave) |
0.9km 0.9km 1.2km 1.8km |
| Shopping Malls | The Poiz Centre (U/C) Nex Macpherson Mall (M2) The Venue Shoppes |
1.0km 1.2km 1.2km 1.2km |
| Education Institutions | Preschool | |
| Calvary Baptist Kindergarten Lumiere Montessori House PCF Geylang Serai Blk 14 PCF Potong Pasir Blk 143 Ramakrishna Mission Sarada Kindergarten The Ascension Kindergarten Bethany Kindergarten Bethesda (Bukit Arang) Kindergartens PCF Braddell Heights Blk 417 CS Montessori Kindergarten @ Serangoon |
0.8km 0.9km 1.0km 1.0km 1.0km 1.2km 1.2km 1.2km 1.2km 1.2km |
|
| Primary | ||
| Cedar Primary School Maris Stella High School (Primary) Yangzheng Primary School St Andrew’s Junior School St. Gabriel’s Primary School First Toa Payoh Primary School Pei Chun Public School |
0.6km 0.7km 1.1km 1.2km 1.5km 1.8km 1.8km |
|
| Secondary | ||
| Cedar Girls’ Secondary School Maris Stella High School (Secondary) St. Gabriel’s Secondary School St. Andrew’s Secondary School Zhonghua Secondary School Bartley Secondary School CHIJ Katong Convent |
0.6km 0.7km 0.9km 1.1km 1.1km 1.2km 1.6km |
|
| Junior College | ||
| St. Andrew’s Junior College Nanyang Junior College |
1.1km 1.2km |
|
| Tertiary | ||
| Curtin University Singapore | 2.4km | |
| International | ||
| Stamford American International School Australian International School |
0.4km 1.9km |
|
| Food Centre | Joo Seng Food Place Kim Keat Palm Market & Food Centre Kim Keat Palm Market & Food Centre Geylang Bahru Block 69 Market And Food Centre Lorong 8 Toa Payoh Block 210 Market And Food Centre |
1.1km 1.5km 1.7km 2.0km 2.0km |
| Lifestyle | Pub Recreation Club Volkswagen Golf Range |
0.6km 1.5km |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site Plan of New Condo in Woodleigh Link are currently seeking approval from relevant authorities.
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SINGAPORE PROPERTY MARKET
Singapore’s property market has one of the best long term returns on equity performance out of most investment instruments available.
And that has to do largely with the strength of the Singapore dollar, the availability of high leverage, and the attraction of Singapore to the international audience, not just as a region to invest in, but as an asset class on its own.
WILL THE PROPERTY PRICES IN SINGAPORE BE COMING DOWN?
The Singapore Income growth index has increased over the years and reached an equilibrium with the property price index. Unlike during the mid 2000s, property prices increased to a level which was out of reach to many Singaporeans. This makes prices of condo affordable and per month debt repayment manageable. With an average household income of S$13,000, a couple can choose to purchase a condo price at $2.3m. A good size 3 bedrooms cost around S$1.6m in today's market. Debt ratio versus income has dropped. The drop in interest rate has further reduced the per month repayment.
Not only has income in Singapore grown over the years, the household liabilities has dropped significantly for the past decade as well while the property price index held stagnant since the tightening of measures in 2013, TDSR was implemented. Property price index had been stagnant. We had lost 7 years of property prices growth.
During this time, Singapore has structured itself also with a younger working population. This is important as the younger generation are able to drive better our GDP and as well as our consumption growth. Our GDP growth has well exceeded our property price growth during this period.
Forbearance programmes are offered by banks for clients who need short term relief in their installment payment but I see that there will not be many people who need to be utilising this. If you are a buyer looking for investment, do whatever you can to build up some cash reserves, for up to a year would be good, to protect yourself from mortgages.
Singapore shall continue with our productivity growth and further restructure our economy with new jobs.
The Economic Development Board (EDB) has managed to secure $13 billion in investment commitments in the first four months of 2020, which has surpassed the targets for the whole year. These investments come partly from electronics and infocomm media sectors. Thousands of jobs will be generated. Due to the change in the market, more jobs will be added to Singapore's capitalisation of the IT industry, namely, semiconductor as Singapore rolls out the 5G technology. We have changed our way of working and our daily lives with the recent pandemic, it has fastern the route on our reliance on the IT, so more jobs will be created in the e-commerce and the digital economic space. Singapore is moving forward with a greater productivity to remain competitive, because in the long run, this is what matters.
Anti-speculation measures have also been implemented over the course of 8 measures. Average holding period for a property has been increased to 8 years.
Additional stamp duty (ABSD) are imposed on buyers for 2nd and 3rd property onwards and slightly higher for PRs. Foreigners who want to have a stake in Singapore's properties will need to pay an additional of 20% in taxes.
Qualifying certificate and additional stamp duties (ABSD) are imposed on developers as well to ensure that there is no hoarding of land by them.
There is alot of buyers in the market looking to buy a real estate for investment. Please do keep an eye on the number of people buying a home, the available supply of homes for purchase in the market and foreclosure if any. The way that I see, it is unlikely to see a state of foreclosure in Singapore. I am certain to see more buyers than sellers. We have worked for this for the past decade and shall see ourselves coming out of the de-leveraging process. We shall see a gradual growth and sustainable price increase in Singapore homes.
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MODERN LOOK FOR NEW BIDADARI ESTATE
NEW BIDADARI HOMES TO SIT AMID LUSH GARDENS
Bidadari Estate is planned as a tranquil urban oasis, where residents can relax and connect with family and friends in a garden-like setting. Envisioned as “A Community in a Garden”, Bidadari Estate will feature a centrally-located 10ha Bidadari Park, which will connect to a Central Green Spine. Bidadari Park is well-connected to the residential estates through pockets of open spaces. Part of the tree-lined Upper Aljunied Road (from Upper Serangoon Road to Vernon Park) will be converted into a heritage walk for pedestrians.
Bidadari Estate will be pedestrian and cyclist friendly, with seamless connections between transport nodes, the park and commercial developments. To provide for the needs of new and existing residents, Bidadari Estate will feature a wide range of amenities including a new commercial development next to Woodleigh MRT station. A bus interchange, neighbourhood police centre and other community facilities will be located nearby. Other amenities such as places of worship and health and medical care facilities are also planned for the estate.
The upcoming housing estate will feature lush greenery and social spaces, in line with the area's vision of being "a community in a garden".
Residents in the area will be able to visit a nearby market square and walk around a scenic park and lake.
The 10ha Bidadari Park will house the new Alkaff Lake, named after the Arab family that built the Alkaff Lake Gardens in the area in 1929.
BIDADARI HOUSING ESTATE TO HAVE FIRST BUS INTERCHANGE UNDERGROUND
The new Bidadari housing estate will be home to Singapore's first underground air-conditioned bus interchange below Housing Board flats.
The new interchange next to Woodleigh MRT station, expected to be ready by 2019, will cater to five bus services.
It will be "tucked away and hidden from the street view", sitting below a carpark and neighbourhood garden flanked by blocks of flats, according to the HDB's plans seen by The Straits Times.
Other plans to modernise Bidadari have been announced in the past couple of years for the area that was once Singapore's largest grave site. These include an underground service reservoir, a 10ha park and a lake within the park.
The future Bidadari estate will lay claim to a unique feature - Singapore's first underground service reservoir built on low, instead of high, ground.
Holding enough water to fill three Olympic-size pools, the tank will be built beneath the town's planned park to save on surface space and keep the surroundings unmarred.
The land above it will be "integrated with the surrounding park amenities, hence optimising land", PUB has said, adding that high ground available for service reservoirs is "limited".
ELARA 1/ CALLISTO 1 AND CEL DEVELOPMENT WON TOP BIDS IN GLS LAND SITES FOR CONDO and MIXED-USE DEVELOPMENT NEXT TO WOODLEIGH MRT
1) First mixed commercial and residential Bidadari site awarded to SPH and Kajima Developments
Mixed-use Development launching in Bidadari New Town- Click HERE for More Information
THE much-coveted Bidadari commercial and residential site garnered 12 bids on Tuesday with the top bid of S$1.132 billion coming from an equal partnership between Singapore Press Holdings (SPH) and Kajima Development.
The highest bid translates to S$1,181 per square foot plot ratio based on the maximum gross floor area of 958,450 sq ft allowed for the 99-year leasehold site next to Woodleigh MRT Station.
The top bid was 1.3 per cent higher than the second-highest bid - from a tie-up between Far East Organization and Sekisui House, which offered about S$1.12 billion or S$1,166 psf ppr for the 2.54-hectare site, which is located near good schools.
The lowest bid of S$808 psf ppr came from Soilbuild Group.
SPH and Kajima propose to develop a condo project and a retail mall on this site, which is the first Government Land Sale site offered in the new Bidadari Estate.
Some property consultants consider the top bid to be bullish, as they noted that it was about 50 per cent higher than the S$775 psf ppr that MCC Land paid back in August 2014 for The Poiz Residences and The Poiz Centre site next to Potong Pasir MRT Station.
That said, JLL's Singapore head of research and consultancy, Tay Huey Ying, who was among those who shared this view, acknowledged that the higher unit land price was a reflection of the more buoyant sentiment today.
The recent sale of Jurong Point mall at over S$3,300 psf on net lettable area could have guided the pricing of the commercial component for the site, she added.
"Moreover, the top bidder will enjoy a first-mover advantage in capturing the private housing demand in this new estate."
A spokeswoman for SPH noted that Bidadari was a new housing estate at the fringe of the city centre and that it was envisioned to be a "community in a garden".
Besides condo units and mall, "we will build a 65,000 sq ft community club, a 20,000 sq ft neighbourhood police centre, a commercial bridge towards Bidadari Park and an underpass to connect to the bus interchange as part of the development", she added.
Kajima Development project director Daisuke Tanaka said: "We like the Bidadari story; it's a young estate next to an MRT station.
"Buyers of the residences in the proposed project will be pretty close to the city centre and yet be able to enjoy green surroundings - including a park and a lake. There are many good schools nearby, so this will be a good place to raise kids but also a place owners will want to spend their whole lives . . ."
CBRE's head of Singapore and South-east Asia research, Desmond Sim, said that the site was "highly and closely contested", with the turnout of 12 bidders a testament to developers' hunger for land as well as the site's position as the "epicentre of the up-and-coming Bidadari Estate".
SLP International executive director Nicholas Mak noted the high participation rate at the tender was despite various conditions, including some relatively complicated technical ones, being imposed.
Among other things, the developer is "strongly encouraged to work with tenants of the retail portion on productivity initiatives". The developer's proposal will be subject to design reviews by a panel chaired by the Housing & Development Board, Mr Mak added.
CBRE's Mr Sim said that the site being located adjacent to a transport node, Bidadari Park and Alkaff Lake are "great placemaking attributes for both the residential and commercial components". "The growing residential catchment will also bring forth confidence for a strong retail concept. It could be the new go-to spot in a neighbourhood where public housing projects have been many times oversubscribed."
Media group SPH's sponsored real estate investment trust, SPH Reit, holds Paragon and Clementi Mall. SPH itself owns 70 per cent of Seletar Mall and also developed the Sky@Eleven condo in Thomson Lane.
Its partner for the Bidadari bid, Kajima, developed the 71 Robinson Road office project in the CBD as well as Bishopsgate Residences and Sui Generis condo in the Balmoral area. It also partnered Pontiac Land in the Millenia Singapore development. Kajima Development is the property development arm of Singapore-based Kajima Overseas Asia, which in turn is the South-east Asia arm of Japan's Kajima Corporation, whose businesses include construction, property development, engineering and design.
2) Woodleigh site exceeds expectations with S$700.7m top bid
New Condo launching in Woodleigh Lane- Click HERE for More Information
Top bid of S$1,110 psf ppr expected to lead to sale price of about S$1,800 psf
A RESIDENTIAL site at Woodleigh Lane near Bidadari housing estate is the latest to draw aggressive bidding.
This time, 15 bidders took part, with CEL Unique Development, a joint venture between Chip Eng Seng, Heeton and KSH, putting in the highest bid of S$700.7 million, which translates to about S$1,110 per square foot per plot ratio (psf ppr).
Keen competition was evident, with a tight margin of 0.8 per cent between the first and second bids. The top four bids were also all neck-and-neck with a tight 3.6 per cent margin. A total of five bids came in at above S$1,000 psf ppr.
Analysts say the tender price works out to a breakeven price of S$1,500-1,600 psf, and an eventual sale price of about S$1,800 psf.
Currently, units at nearby new developments are selling at far below that. Poiz Residences and Forest Woods were both transacting at a median price of just under S$1,400 psf in May this year.
A year ago, a psf ppr price figure of above S$1,000 would have caused jaws to drop, but this is gradually becoming a norm in recent tenders.
In June, Singapore Press Holdings and Kajima Development put in a top bid that translated to S$1,181 psf ppr for a mixed-use Bidadari site.
In May, Hong Kong's Logan Property and Chinese developer Nanshan Group put in a bid that works out to S$1,050 psf ppr for a Stirling Road plot. Both this and SPH's bid carried a total quantum above S$1 billion.
Listed Chip Eng Seng and KSH said in disclosures that they plan to build a condominium comprising 16-storey residential blocks on the Woodleigh site, with a total of over 800 units.
Corson and Wingjoy Investment, units of Keppel Land and Wing Tai respectively, put in the second highest bid of S$695 million, or about S$1,101 psf ppr.
City Developments' Verwood Holdings paired up with Logan Property to put in the third highest bid of S$688.1 million, or about S$1,090 psf ppr.
Desmond Sim, head of CBRE Research, Singapore and South East Asia, called the results "unsurprising", as the site had been identified as a high-profile one from the start, being located right beside Woodleigh MRT station and within the up-and-coming Bidadari precinct.
Besides, market sentiment has been picking up for some time now, and developers have been keen to restock their land bank with key development sites in order to keep their businesses running, he said.
Ong Teck Hui, national director for research and consultancy at JLL, said: "The bidding war for residential sites has escalated further in this tender, driven by bidders' determination to secure this attractive site in a market that is potentially recovering."
Indeed, many analysts are anticipating a bottoming-out of the market at the end of this year, and for residential prices to appreciate again starting 2018.
Christine Li, director of research at Cushman & Wakefield added that the tender results show that when a choice city-fringe site is up for sale, there will be no shortage of interest.
Asked if the current land bidding behaviour will undo the effects of property cooling measures, Mr Sim from CBRE said it is difficult for the government to gauge the amount of state land to release for sale, because if it were to attempt to do so, it could easily tip the balance over and create an oversupply situation - a repeat of what happened in 2012.
"One factor that could keeps the property market in check is the resale market. If the resale market finds it hard to match its prices with those in the new home sale market, this could attract some demand going to the resale market instead in the future."
Meanwhile, aggressive bidding in land tenders has already pushed some developers into the private en bloc market.
"With the imbalance between demand for land and the number of development sites available in the government land sales programme, we will likely see more collective sales committees being formed in older estates. More developers will probably seek this avenue as an option for replenishing land banks," Mr Sim said.
At last week's Real Estate Developers' Association seminar, some industry players described the compounding effect of aggressive land bidding, saying that since there can only be one winner for a site, each tender exercise leaves a large amount of capital on the sidelines waiting to be deployed into the next land parcel, thus feeding an upward spiral.
Source: Straits Times
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