PROJECT DETAILS

The Urban Redevelopment Authority (URA) has sold a residential site in Siglap Road, as part of Government Land Sales (GLS) in 1st quarter of 2016. This land parcel bounded by Siglap Road, Siglap Link and East Coast Parkway, near Marine Parade Road, is located in the East Region of Singapore, is listed under the confirmed list of sites and is allocated to be developed into a residential condominium. This site has a site area of 207,848 square feet and is expected to house approximately 800 units. 

A consortium comprises of Frasers Centrepoint, Sekisui House and Keong Hong Holdings won the top bid of S$624.18 million that translates into S$858 per square feet per plot ratio (psf ppr).

 

Other private residential developments that are within New Condo’s vicinity include Mandarin Gardens, Lagoon view, Bayshore Park, Costa Del Sol, Villa Marina, Marine Blue, The Meyerise, Amber Skye, Seventy’s St Patrick, Elliot at the East Coast, Silversea and Cote D’ Azur.

New and upcoming condo launch in Siglap Road/ East Coast Parkway is approximately 400 metres away to the upcoming Sigalp MRT Station, serving the Thomson-East Coast Line, that will be ready by 2023. At present, New Condo in Siglap Road is approximately 1.7 km away from the Bedok MRT Station which operates the East-West Line. The Bedok Bus Interchange is also just next to the Bedok MRT Station where many bus services are available to serve future residents of New Condo and they easily commute to the various parts of Singapore. Travelling to Central Business District (CBD), City Centre and Marina South, Marina Bay is a breeze as the the East Coast Parkway (ECP) which is just next to new condo in Siglap Road.

Future residents of New Condo in Siglap Road/ East Coast Parkway can take short walk down to Siglap V where shops, F&B outlets and supermarket are located. Alternatively, they could take a short drive down to Marine Parade Town Centre where heartland retails, market and food centre are located. Marine Parade Town Centre also host the Parkway Parade Shopping Centre, 112 Katong where many dining, shopping and entertainment options are available to choose from. There are several nice eateries along East Coast Road as well which are a short drive away from new condo development in Siglap Road. 

 

There are many reputable and prestigious schools nearby new condo development, hence,  it is a very attractive place for family living.  It is next to the famous Victoria School. Other local instituitions include Ngee Ann Primary School, Opera Estate Primary School, St. Stephen’s School, Tao Nan School, CHIJ (Katong) Primary School, CHIJ Katong Convent, Saint Patrick’s School and St. Anthony’s Canossian Secondary School, Victoria Junior College and Temasek Junior College. New Condo launch in Siglap Road is also close to international schools such as Sekolah Indonesia Singapura and Global Indian International School (East Coast Campus).

 

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LOCATION and AMENITIES

New Launch Condo in Siglap Road/ East Coast Parkway is near to upcoming Siglap MRT Station serving the Thomson- East Coast Line, operational by 2023. Its site is next to Victoria School and opposite Mandarin Gardens offering unblock sea view.

Amenities Near New Condo at Siglap Road/ East Coast Parkway

FACILITIES and SITE PLAN

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RESIDENTIAL FLOOR PLANS

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THOMSON EAST COAST MRT LINE TO BE COMPLETED IN 2024

On August 15, 2014, the LTA announced that the southern end of the Thomson Line which serves the North South corridor will be extended eastwords to form the new TEL MRT line. In Singapore, the proximity to an MRT station helps to sell properties. The 13km East coast stretch will bring MRT travel to areas not currently served by the MRT system and increased connectivity to the East will be brought about by a 2.2km, 2-station extension of the Downtown Line (DTL) to join DTL To TEL. Here are some points about TEL:

• Consists of the 22 station Thomson Line along the N-S corridor and the 9 station Eastern Region Line
• Seamless connection from Woodlands in the North to the East Coast
• Fully underground
• Benefits of sscale, operational efficiency and common systems and trains
• Total Length 43km
• Total cost of S$24 billion, 6.8 billion for the Eastern Region Line
• Total of 31 stations
• Scale similar to N-S line and Downtown line
• 7 private properties acquired
• 7 interchanges 
• Expected traffic - 500k passengers daily, increasing over time to 1mil daily
• Alternative to E-W line for some commuters
• Eastern end of the DL line to be linked up to TEL with the addition of 2 new stations
  • Downtown Line 3 extension (DTL3e) - 2.2km
  • Access to Changi Business Park and Expo areas
• Travelling time saved (now served by MRT or MRT+Bus):
  • East coast to Orchard, 45mins instead of 75mins, saving 30mins
  • Woodlands to Marine parade, 1 hr, currently not possible by MRT, 80mins by bus
  • Marine parade to Shenton Way, 20mins instead of 40mins, 20mins saving
  • Marine parade to Jurong East, 50mins (via TEL, EWL) instead of 65mins, save 15mins
  • Upper East Coast to Ang Mo Kio, 45mins instead of 60min, save 15mins

• New combined MRT and bus depot to be built next to the existing Changi Depot
  • Capacity for 220 trains from TEL, E-W and DTL lines and 550 buses
  • 36-hectares, multistorey
  • Combining and having several storeys saves 44 hectares
  • Existing depot to be demolished

• East Region Line
  • 16km long
  • Serves new areas such as Siglap, Marine Parade, Upper East Coast and Bedok South
  • Construction of the Eastern Region Line to start in 2016.
  • First 7 stations - Tanjong Rhu to Bayshore - to be ready by 2023.
  • Last 2 stations of the Eastern Region Line - Bedok South and Sungei Bedok to Tanjong Rhu to be ready by 2024
  • Singapore's first underground bicycle parks
    • Marine Parade, Marine Terrace, Bayshore and Sungei Bedok Stations
    • More bicycle parts at all future stations

 Quick Milestones:

• 2019 - 3 stations on the NEL line gets connected to the N-S Line at Woodlands MRT
• 2020 - 6 new stations from Springleaf to Caldecott open
• 2021 - 13 new stations from Mount Pleasant to Gardens by the Bay give direction access to the CBD, Marina Bay and Gardens By The Bay from the Woodlands
• 2023 - 7 stations on the East Coast stretch open new access to the East Coast area currently not served by any MRT line
• 2024 -  last 2 stations on the East Coast stretch connect to the DTL3e extenstion at Sungei Bedok and will relieve some pressure on the E-W line.

THOMSON EAST COAST LINE TEL

The Thomson-East Coast Line (TEL) is a joint line between the Thomson Line and the Eastern Region Line.

The 43km TEL will add 31 new stations to the existing rail network, with 7 interchange stations, which will link to the East-West Line, North-South Line, North-East Line, Circle Line and the Downtown Line.

The 13km eastern stretch will run through the neighbourhoods of Tanjong Rhu, Katong Park, Amber, Marine Parade, Marine Terrace, Siglap, Bayshore, Bedok South and Sungei Bedok. The first seven stations, from Tanjong Rhu to Bayshore, will be ready in 2023. The stations in Bedok South and Sungei Bedok will be ready in 2024.

When the 43km-long TEL is completed in 2024, a trip from East Coast Park to Orchard is expected to take just 45 minutes, compared to 75 minutes. Commuters travelling from Marine Parade to the Central Business District will halve their travel time from 40 minutes to 20 minutes.

The TEL will also connect with the upcoming Downtown Line which will have a new extension consisting of the Xilin station and the Sungei Bedok interchange station. This is to improve public transport accessibility to the Changi Business Park and Expo areas, he said.

The 31 stations of the TEL are expected to serve about half a million commuters daily in the initial years and twice that in the long term. To make way for the construction of the eastern stretch of the line however, six landed properties along Amber Road and a three-storey apartment along Tanjong Katong Road will be acquired.

The world's first four-in-one train and bus depot will also be built with the TEL. It will house buses and trains for the TEL, East-West Line and Downtown Line. The 36ha depot can house about 220 trains and 550 buses and integrating the depot for both buses and trains will help to save close to 60 football fields of land space.

FRASERS CENTREPOINT TOP BIDDER FOR LAND IN SIGLAP ROAD CONDO DEVELOPMENT

A RARE Siglap Road condo site attracted eight bids yesterday, testimony to the area's merits and need for developers to replenish land banks.

The bids may also indicate that property firms believe "prices in the East Coast mid-tier segment may be reaching the bottom and could recover come 2017", said Nicholas Mak, SLP International executive director.

The top four bids were all above $800 per sq ft per plot ratio (psf/pr) and fell within a 7 per cent margin - suggesting a shared bullish outlook in demand for units at the site, said Ong Teck Hui, JLL national research director.

A consortium of Frasers Centrepoint unit FCL Topaz, Sekisui House and Keong Hong Holdings unit KH Capital lodged the top offer of $624.18 million, or about $858 psf/pr.

The 207,847 sq ft parcel, in between Victoria School and the East Coast Parkway, can yield about 750 private homes.

Based on the top bid, the selling price for a project on the site would have to be at least in the range of $1,400 to $1,500 psf, Mr Ong noted.

"That would require favourable market conditions at the time of sales launch."

The lack of residential development sites could also have contributed to the strong turnout. "In the absence of many development options, those with the financial muscle were prepared to bid competitively in spite of the high absolute land price," added Mr Ong.

Experts also pointed to the site's proximity to amenities at East Coast Park and Katong and promise of sea views.

There are few new projects in the area. The last time a nearby site was sold was in 2001 - home to the current Cote D'Azur condo, said Desmond Sim, CBRE research head for Singapore and South-east Asia. That condo was also developed by Frasers Centrepoint Homes.

Other high bids were submitted by joint ventures involving major players, unsurprising given the nearly $1 billion quantum involved if development costs are included, Mr Sim added.

He added that the recent trigger of a condo site in Tanah Merah could have distracted some smaller players. The Tanah Merah reserve parcel will be up for sale soon as a developer committed to a minimum bid of $320 million or about $580 psf/pr - a far more pocket-friendly sum.

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