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New EC in Sengkang
Anchorvale Crescent
2019, 2020,
Please Read Here

PROJECT DETAILS

 
 

** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a Resale HDB, BTO or a new launch EC, let us discuss your best possible option.

** EXISTING HDB OWNERSIf you are planning to change to another property, and would like to know whether to buy a EC or private condominiums, let us help you to assess your best possible options to get better returns on your dollars. We do not want to under-leverage on ourselves.


Site of Anchorvale lane ec

The Housing and Development Board (HDB) has sold a new residential site in Anchorvale Lane, Sengkang as part of Government Land Sales (GLS), in 3rd quarter of 2016. This land parcel is next to Sungei Punggol Reservoir, along Punggol Park Connector and is bounded by Anchorvale Lane and is in between of Sengkang East Avenue and Sengkang West Avenue, located in the North-East Region of Singapore, is listed under the confirmed list of sites and is allocated to be developed into an Executive Condominium (EC). It has a site area of 226,199 square feet of land and can home approximately 635 apartment units.


For More Information on New EC launching in Sengkang in 2019, 2020, Please Read Here


A consortium comprises of Hoi Hup Realty and Sunway Developments won the top bid of S$240.95 million which translates into S$355.07 per square foot per plot ratio (psf ppr). The break-even price is approximately S$685 psf ppr, and a target average selling price of S$760psf.

 

Other condo developments that are within New EC’s vicinity include the RiverTrees Residences, Riverbank @ Fernvale, H2O Residences, High Park Residences and La Fiesta. New EC in Anchorvale Lane is also near to executive condominiums such as Lush Acres, The Vales EC, Treasure Crest, Bellewaters EC, The Terrace EC, eCopolitan EC, Waterwoods EC and The Amore EC.

 

New Anchorvale Lane EC- Connectivity
New and upcoming EC in Anchorvale Lane is approximately 400 m away from Tongkang LRT Station which operates the Sengkang LRT Line West Loop. Residents will be linked to Sengkang MRT Station in Sengkang Town Centre operating the North-East Line (NEL). New EC in Anchorvale Lane is link to the main arterial road, Sengkang East Road which will connect drivers to the Tampines Expressway (TPE) and Kallang Paya Lebar Expressway (KPE) which links to the Central Expressway (CTE). It takes approximately 15 minutes drive to the Central Business District (CBD), City Centre and 13 minutes to Orchard shopping belt.


New Anchorvale Lane EC- Education
There are several schools within 2 km radius from New EC in Anchorvale Lane. The primary schools include Anchor Green Primary School, Springdale Primary School, Nan Chiau Primary School, Sengkang Green Primary School, Palm View Primary School, Fernvale Primary School, Compassvale Primary School, Yio Chu Kang Primary School, North Vista Primary School, Hougang Primary School, Seng Kang Primary School, Punggol Green Primary School, Punggol Primary School. Secondary schools nearby EC in Anchorvale Lane include Pei Hwa Secondary School, Nan Chiau High School, Hougang Secondary School, Seng Kang Secondary School and Compassvale Secondary School. A new mega child-care centre, My First Skool, will be built and is 1 LRT Station away from New launch EC at Anchorvale Lane.


New Anchorvale Lane EC- Amenities
New EC in Anchorvale Lane is approximately 900 m away from the new Seletar Mall which has 6 levels comprising a total of 188,370 square feet of retail spaces and cinema. These will cater and meet residents' dining, shopping and leisure needs. Future residents of New EC in Anchorvale Lane can also take the LRT line or a short drive to Sengkang Town Centre where Compass One, another shopping mall and Sengkang Square are located, to cater residents' needs.

Located next to Sungei Punggol Reservoir, residents can enjoy the tranquill views and also take a jog or cycling along the Punggol Park Connector which connects towards Sengkang Sports and Recreation Centre and Anchorvale Community Club where there are various activities for residents' enjoyment. From here, residents of New EC in Anchorvale Lane may access to Sengkang Riverside Park which offers greenery, water sports and various outdoor activities and spend their weekends with family and friends. The construction of a life-style and food hub in Seletar Aerospace Park (SAP) will also give additional spaces and add vibrancy to the life-style of the residents of this Upcoming EC in Anchorvale Lane.

 

New Anchorvale Lane EC- Developer
The developer of New Anchorvale Lane EC project are Hoi Hup Realty Pte Ltd and Sunway Developments.

Founded in 1983, Hoi Hup Realty has successfully delivered over 900 residences to its customers. At the moment, the company is managing the development of some 500 homes. Hoi Hup Realty has firmed up its position as a reliable property developer in Singapore with its experiences and consistent performances.

Their previous projects include the likes of Hoi Hup Sunway Novena Pte Ltd, The Whitley Residences, Sophia Hills, Royal Square, Residences @ Killiney, and more.

The sheer quality and the amazing results delivered by the developer have won it numerous accolades, including multiple property awards over the years. Building and Construction Authority (BCA) Awards are one of the most prestigious honors in the industry and Hoi Hup Realty has received this award a total of five times, which is a great achievement unto itself. They have also received recognition from the Urban Development Authority for sustainable development, and the National Parks Board for management of greenery. They have also received the Singapore 1000 and the SME 500 Award several times.

Sunway Developments Pte Ltd is a wholly subsidiary of Sunway Concrete Products (S) Pte Ltd, a Sunway Group company. The core businesses of this Malaysian conglomerate include property development and investment, real estate REIT, design and building construction, building materials, leisure and education, information technology and hospitality. Sunway REIT is the largest Malaysia REIT in terms of assent size as well as free float. As one of Singapore’s leading concrete precasters in Singapore, the company has projects in both public and private sectors, and has worked on several Design & Build Projects such as lKEA @ Tampines and The Meadows at Punggol.

All in all, under Hoi Hup Realty and Sunway Developments, this new EC in Anchorvale Lane will turn out to be a very sought-after property in the region.

 

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Project  Anchorvale Lane New EC 2018
Developer  Hoi Hup Realty and Sunway Developments
Location  Anchorvale Lane, (Sengkang Planning Area)
District  19
Tenure 99 years lease from
Site Area  226,000 square feet/ 20,996 square metres
GFA:  678,598 square feet/ 63,044 square metres
Plot Ratio  3.0
Expected TOP:
Total Units  Approximately 635 residential apartments
Total Carpark
Development Executive Condominium comprising of communal facilities which include Landscape pool, Spa Lounge, BBQ Alfresco Dining, Tennis Courts, Function room, Gym and More....
Unit Type:  3 Bedrooms, 4 Bedrooms and 5 Bedrooms
Architect
Eligibility SC/ SC, SC/ SPR can buy
 
 
New EC at Anchorvale Lane Unit Mix Distribution
Unit TypeTypeArea (Square Feet)Total No. of Units
1 Bedroom TBA Nil Nil
2 Bedroom TBA Nil Nil
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse TBA Nil Nil
New EC at Anchorvale Lane Facilities
TBA
  • TBA
  • TBA
New EC at Anchorvale Lane Price List
Unit TypeArea (Square Feet)PricingPSF
1 Bedroom Nil Nil Nil
2 Bedroom Nil Nil Nil
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse Nil Nil Nil

LOCATION MAP and AMENITIES

EC- Anchorvale Lane locationEC- Anchorvale Lane

Residents of New EC in Anchorvale Lane will have good accessibility. It is 400 metres away to Tongkang LRT Station which operates the Sengkang LRT Line West Loop. This will bring residents to Sengkang MRT Station. It has good connectivity. It is:

  • 3 LRT stops to Sengkang Town Centre where Compass One Shopping Mall and Sengkang Square are located and serve residents of New EC in Anchorvale Lane
  • 3 LRT stops to Seletar Mall and Fernvale Point where residents can have more choices of shopping, dining and leisure
  • 1 MRT stop to Punggol Town Centre- the new Pungol Waterway Point
  • 2 MRT stops to Hougang Mall and Bus interchange
  • 3 MRT stops to Heartland Mall and Bus Interchange, Kovan Market and Food centre
  • 4 MRT stops to Serangoon MRT Interchange which serves Circle Line, Bus interchange, NEX mega mall

Amenities Near New EC in Anchorvale Lane Sengkang

Category Important Amenities Near New EC at Anchorvale Lane Approximate Distance
Train Stations Tongkang LRT Station (SW7)
Sengkang MRT Station (NE16)
0.4km
1.2km
Bus Stop Blk 311A (Bus: 50, 163, 163M)
Opp Blk 310B (Bus: 163, 163M, 50)
0.2km
0.2km
Supermarkets Fairprice (Seletar Mall)
Cold Storage (Compass Point)
Giant (Compassvale Blk 266)
0.9km
1.2km
1.8km
Shopping Malls The Seletar Mall
Compass Point
0.9km
1.2km
Education Institutions Preschool
Sengkang Methodist Church Kindergarten
MOE Kindergarten Springdale
MOE Kindergarten Fernvale Link
PCF Sengkang West Blk 436D-436A
MOE Kindergarten Sengkang Green
PCF Sengkang West Blk 443
PCF Punggol Central Blk 262A
0.2km
0.7km
0.7km
0.8km
1.0km
1.2km
1.2km
Primary
Anchor Green Primary School
Springdale Primary School
Nan Chiau Primary School
Sengkang Green Primary School
Palm View Primary School
Fernvale Primary School
Compassvale Primary School
Yio Chu Kang Primary School
North Vista Primary School
Hougang Primary School
Seng Kang Primary School
Punggol Green Primary School
Punggol Primary School
0.4km
0.7km
0.7km
1.0km
1.2km
1.2km
1.5km
1.7km
1.7km
1.7km
1.7km
1.9km
2.0km
Secondary
Pei Hwa Secondary School
Nan Chiau High School
Hougang Secondary School
Seng Kang Secondary School
Compassvale Secondary School
0.6km
0.7km
1.7km
1.7km
1.8km
Junior College
Anderson Junior College 4.5km
Tertiary
Nanyang Polytechnic 4.2km
International
Lycee Francais De Singapour 3.0km
Food Centre Kopitiam Square 1.0km
Lifestyle Sengkang Sports and Recreation Centre
Snegkang Riverside Park
Sengkang Sculpture Park
0.5km
0.5km
1.5km

FACILITIES SITE and RESIDENTIAL FLOOR PLANS

The New Anchorvale Lane EC Facilities Site planand Floor Plans are currently seeking approval from relevant authorities.


If you would like to be updated on first hand information for this upcoming EC in Anchorvale Lane Sengkang or would like to know more about progressive and deferred payment schemes, Please

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DEVELOPER HOI HUP REALTY and SUNWAY DEVELOPMENTS

Developer- Hoi Hup Realty

Hoi Hup Realty Pte Ltd, established since 1983. A dynamic real estate developer who has accomplished over 900 quality homes and currently has a pipeline of more than 500 private residential units at different stages of development. Sold out projects including The Ford @ Holland, Suites @ Cairnhill and Waterford Residence indicated that developments were well-received by the market.

An eye for details and years of experience in the industry, our people have gained knowledge of the properties we develop. This knowledge enables us to increase our effectiveness and to deliver a high level of quality and innovative products to our home buyers. 

Achieving high standards of building excellence. With a disciplined vision and a strong philosophy to develop properties that offer the highest level of style, functionality and innovation within prime and strategic locations, Hoi Hup’s dedication is harmonized by its commitment to outstanding workmanship and admirable value. Hoi Hup, are driven to innovate and set new standards as the niche developer that caters to a wide range of markets today and tomorrow.

Hoi Hup Past launches

Past Launches include:

Sea Esta

The Miltonia Residences

Arc@Tampines

Charlton Villas

City View@Boon Keng

deRoyale

Emerald East

Kovan Regency

La Vista@Yuan Ching

Legenda at Joo Chiat

Marine Ville

Merlot Ville

Mimosa Gardens

Questa at Dunman

Rio Gardens

Shelford 23

Sims Green

Suites@Cairnhill

The Bale

The Eastside

The Estiva

The Foliage

The Ford@Holland

The Foresta@Mount Faber

The Grandhill

The Maylea

The Peak@Toa Payoh

Vacanza@East

Versilia on Haig

Waterford Residences

Woodgrove Condominium

 

Main Contractor- Straits Construction

Straits Construction is one of Singapore’s leading builders with a repertoire of projects spanning the public and private sectors, from residential to commercial projects. Right from the start, we saw how we could do things better and faster. We are not just builders who know our craft well, but we are always thinking of ideas to take the business even further. We are innovators and solution providers looking for sustainable ways to improve the space where communities live and work in.

Some of our latest initiatives include leveraging technology to improve product quality, training and development to raise the skill levels of the industry, and spearheading one of Singapore’s integrated construction and prefabrication hubs to elevate productivity.

2016

The Whitley Residences

Cluster Terrace and Semi-Detached Housing Development (61 units) with common facilities at Whitley Road.

Straits Construction- Whitney Residences

2015

Sea Esta

Condominium Housing Development comprising of 6 blocks of residential building (376 units) at Pasir Ris Link.

Straits Construction- Sea Esta

Yishun Greenwalk

Public Housing Development comprising of 12 blocks of residential building (1400 units) at Yishun Avenue 9

Straits Construction- Yishun Greenwalk

Kovan Regency

Condominium Housing Development comprising 6 blocks of residential building and 15 terrace houses (393 units) with swimming pool and basement carpark at Kovan Rise.

Straits Construction- Kovan Regency

2014

The Miltonia Residences

Condominium Housing Development comprising of 18 blocks of residential building (410 units) at Miltonia Close

Straits Construction- Miltonia Residences

Lake Vista

Public Housing Development comprising of 4 blocks of residential building (682 units) at Yuan Ching Road

Straits Construction- Lake vista

Arc@Tampines>

Executive Condominium Housing Development comprising of 9 blocks of residential building (574 units) at Tampines Avenue 8

straits COnstruction- Arc Tampines

Fernvale Foliage

Public Housing Development comprising of 4 blocks of residential building (504 units) at Sengkang West Way

Straits COnstruction- Fernvale Foliage

TOOLBOX

Single-user Industrial Development with ancillary facilities at Tuas South Street 12

Sraits COnstruction- ToolBox

The Foresta @ Mount Faber

Condominium Housing Development comprising of 4 blocks of residential building (141 units) at Wishart Road

Straits COnstruction- Foresta mount faber

Vacanza @ East

Condominium Housing Development comprising of 7 blocks of residential building (473 units) at Lengkong Tujoh

Straits Construction- VacanzaEast

2013

Questa @ Dunman

Condominium Housing Development comprising of 2 blocks of residential building (122 units) at Dunman Road

Straits Construction- QuestaDunman

2012

Residences @ Killiney

Condominium Housing Development comprising of 2 blocks of residential building (68 units) at Killiney Road

Straits Construction- ResidencesKilliney

Casa Clementi

Straits Construction- Casa Clementi

The Peak @ Toa Payoh

Public Housing Development comprising of 5 blocks of residential building (1203 units) at Toa Payoh Lorong 1A

Straits Construction- The Peak Toa Payoh

2011

Damai Grove

Public Housing Development comprising of 8 blocks of residential building (738 units) at Punggol Drive

Straits Construction- Damai Grove

Shelford 23

Condominium Housing Development comprising of 2 blocks of residential building (33 units) at Shelford Road

Straits Construction- Shelford 23

2010

Buona Vista Court

Public Housing Development comprising of 4 blocks of residential building (828 units) at Holland Drive

 Straits Construction- Buona Vista Court
City View @ Boon Keng

Public Housing Development comprising of 3 blocks of residential building (714 units) at Boon Keng Road

Straits Construction- City view Boon Keng
Charlton Villas

Terrace and Semi-Detached Housing Development (39 units) with common facilities at Charlton Lane

Straits Construction- Charlton Villas

Dover Gardens

Public Housing Development comprising of 4 blocks of residential building (943 units) at Dover Crescent

Straits Construction- Dover Gardens
Waterford Residence

Condominium Housing Development comprising of 2 blocks of residential building (118 units) at Kim Yam Road

Straits Construction- Waterford Residence

Versilia on Haig

Condominium Housing Development comprising of 2 blocks of residential building (128 units) at Ipoh Lane

Straits Construction- Versilia on Haig

Suites @ Cairnhill

Condominium Housing Development comprising of a block of residential building (48 units) at Anthony Road

Straits Construction- SuitesCairnhill

Coralinus

Public Housing Development comprising of 6 blocks of residential building (365 units) at Punggol Place

Straits Construction- Coralinus

2009

Hoi Hup Building

Multiple-users Industrial Development with basement carpark at Jalan Kilang

Straits Construction- Hoi Hup Building

The Ford@Holland

Condo housing development comprising of 2 blocks of residential building (85 units) at Ford Avenue.

Straits Construction- The Ford Holland


SENGKANG OVERVIEW

Sengkang Master Plan 2013

Sengkang is a sub-urban town in the north-eastern part of Singapore. The town is bounded by the Tampines Expressway (TPE) to the north, Sungei Serangoon (Serangoon River) to the east, Buangkok Drive to the south and Jalan Kayu to the west. Sungei Punggol (Punggol River) cuts through the new town, and divides the town into Sengkang East and Sengkang West.

Sengkang Master Plan 2013  2

Seletar Aerospace Park- ST Aerospace

rolls-royce-seletar-campus

Sengkang West Industrial Park, is to be built to the west of Jalan Kayu in the near future, bounded by a road which is estimated to be completed this year. The new road, Sengkang West Road, begins where Yio Chu Kang Road and Jalan Kayu intersect, passes through the Fernvale neighbourhood, cuts through TPE across the proposed Seletar Aerospace Flyover and links to the future upgraded Seletar Aerospace Park (SAP).

New Anchorvale Lane EC Sengkang: Enhancements on Road System
  • The completion of Sengkang West Road to ease the traffic to Seletar Aerospace Park and Sengkang West Industrial Estate
  • Widening and expansion of CTE/ SLE/ TPE/KPE, between Jalan Kayu flyover and Punggol West Flyover and construction of road between TPE and Yishun Ave 6
 
imghousing12

New Anchorvale Lane EC Sengkang: Health-care and well being
  • Future Sengkang General and Community Hospital (targetting 2018)
New Anchorvale Lane EC Sengkang: Future potential and Demand
  • Sengkang General Hospital by 2020
  • Seletar Aerospace Park (SAP)
  • Sengkang West Industrial Park

AMENITIES RECREATION and LEISURE FOR RESIDENTS OF NEW EC IN ANCHORVALE LANE

EC- Anchorvale Lane Compass One 4

EC- Anchorvale Lane 3

Compass One, with a retail space of 269,098 square feet which spread out four storeys and features a two levels library is at the Sengkang Town Centre. At the Sengkang Town Centre, residents of New EC at Anchorvale Lane can also visit Sengkang Square for local food. With these, will meet their daily needs and necessities of residents of New EC at Anchorvale Lane.

Alternatively, residents can also go to Seletar Mall and Fernvale Point for more options. 

EC- Anchorvale Lane Mega Child Care Centre

A large-scale childcare centre at size of 269,100 square feet, My First Skool for Early Childhood Development will be built at the junction of Fernvale Link and Sengkang West Way, near block 430, to be completed by mid 2016. It will take residents 1 Station from New EC at Anchorvale Lane to Layar LRT Station and working parents will have ease of mind with their kids when away to work.

Here, children will learn interacting with one another and the Skool will focus on Science, Technology, Engineering and Mathematics (STEM). 

EC- Anchorvale Lane Sengkang Riverside Park 2

New Anchorvale Lane EC is well supported in recreation. It is located next to Sungei Punggol Reservoir and residents may travel or cycle along Punggol Park Connector. Along the Punggol Park Connector, residents may also find Sengkang Riverside Park which has unique water features, a constructed wetland that collects and filters rain waters naturally through its aquatic plants. The wetland doubles as a wildlife habitat and attracts many mangrove birds into the park such as purple heron, collared kingfisher and little tern.

EC- Anchorvale Lane Sengkang Sports and Recreation Centre

Along the Punggol Park Connector will bring residents to Sengkang Sports and Recreation Centre. Sitting on a 4 hectares of land, Sengkang Sports and Recreation Centre house a community club and features sports facility including 4 swimming pools. And standing next to it is the Sengkang Hockey Stadium where it has state of art hockey pitches and held 2010 Youth Olympics Games.

Travelling further will bring the residents to My Waterway@Punggol and towards Marina Country Club where residents may enjoy the tranquility and at the same time, a chill out place during the evenings and weekends, with friends and family for deeper bonding.

It is everything that you might need here in this location to enjoy the serenity, tranquility and peace when back home to this Upcoming EC at Anchorvale Lane, next to Sungei Punggol Reservoir.

ENHANCED CONNECTIVITY IN SENGKANG WITH NEW ROADS

Condo- High Park Residences- Better routes

Sengkang West Road

Seletar Aerospace Way

HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE

EC- Article on Potential on ECs

Owners of Executive Condominiums (EC) stand a huge capital potential appreciation in due of the low entry price to purchase a unit compared to private condominiums.

After a period of 10 years, the EC will be privatised, changing its status to be on level to a private condominium. Foreigners will be able to purchase the unit then. Owners typically enjoy a capital gain after their EC is privatised.

The above table shows a significant increase in capital appreciation for EC owners. 

Purchasing an EC is extremely promising as we may look into such capital appreciation after it becomes privatised over time.

EC- Article on EC drawing more buyers

As the entry price for an Executive Condominium (EC) is much lower than a private condominium, demand for ECs has been on the rise. New EC units are generally 15-30% cheaper than private condominiums. In addition, first timer are entitled to receive a CPF Housing Grant of up to S$30,000. These make EC an extreme worthwhile asset to purchase. 

Physical features are similar when comparing between a new executive condominium with a private condominium. This include facilities such as gym, clubhouse, security guard, tennis court, swimming pool and many more.

With further developments in Sengkang and Seletar, residents of New EC in Anchorvale Lane will look into a long term investment with high profit margin.

EC- Article on price gap closing between EC and private

When doing a comparison between an executive condominium and private condominium, we know that both EC and private condominiums offer the same features such as swimming pool, gym, tennis court and many more, 

As resale executive condominiums are typically larger in space comparing to its counterpart and with a lower entry price, demand has increased for the resale ECs. This has led to a narrowing of price gap.

Owners of resale ECs have profited greatly in the market with their low entry price and they had enjoyed the bigger space and same facilities.

CONSORTIUM HOI HUP and SUNWAY DEVELOPMENTS WON TOP BID FOR EC LAND SITE IN ANCHORVALE LANE SENGKANG

There was a huge turnout for executive condominium (EC) site on offer by Government Land Sales (GLS) with 16 developers casting bids for an Anchorvale Lane plot that could yield about 630 units.

It was the highest number of bidders for an EC site since the tender for a Yuan Ching Road site, now Lake Life, in July 2013.

EC- Land sales prices of ECs in past 2 years

Hoi Hup Realty and Sunway Developments submitted the top bid of $240.95 million or $355 per sq ft per plot ratio (psf ppr). It was just 2.5 per cent above Wee Hur Development's bid of $235 million or $346.30 psf ppr. Given the top bid of $355 psf ppr, the developer would probably have to sell at over $820 psf ppr, above levels at the other projects.

10 of the 16 bids at the latest tender exceeded S$300 psf ppr.

EC- Anchorvale Lane tender results

This is the only EC site to be launched on the confirmed list of the Government Land Sales (GLS) Programme in 2016. Measuring approximately 226,199 sq ft, the site has a maximum gross floor area (GFA) of about 678,598 sq ft. Its gross plot ratio is around 3.0.

Located beside Punggol Reservoir, Anchorvale Lane is close to Tongkang LRT station, which connects residents to Sengkang MRT station and bus interchange. The newly renovated Compass One, as well as malls such as Seletar Mall, Rivervale Mall and Rivervale Plaza are also nearby.

As many parties were bidding competitively, outlook on the EC market would be fairly optimistic, a pick-up in demand and improvement in prices when the project is launched in late 2017 or early 2018 is expected. The current EC glut being steadily soaked up in the next 15 months, which will be the earliest when the top bidder, Hoi Hup, can launch the new project on the Anchorvale Lane site under current rules.

The potential bottoming of the private home market would also have a positive effect on the EC market, as stable or recovering prices of private homes would augur well for EC prices as well.

The area has several ECs which are launched and with unsold stock, including Bellewaters, The Vales and Treasure Crest.

Despite an unprecedented quantity of unsold stock, the EC market has seen some traction in the last few months.

The number of unsold EC units has been decreasing in the market since the first quarter of this year.

The stock had dropped to 5,471 unsold units as at the end of June, from 6,520 units in the first quarter.

When contacted, Hoi Hup director Wong Sjew Hung said, "We really like this site, which is next to Punggol Reservoir and near Sengkang Riverside Park. It's in a green, tranquil area."

Hoi Hup's bid would translate to a breakeven cost of about S$685 psf and that the group is eyeing an average selling price of S$755-760 psf when the project Anchorvale Lane is launched late next year. The proposed scheme comprises 640 apartments in 10 blocks. The 17-storey project will comprise mostly three-bedders, with some four and five-bedroom units.

Also noteworthy is that Hoi Hup clinched the previous EC site tendered - in the Hougang/Yio Chu Kang area - in February this year. Ms Wong said that the plan is to launch the 531-unit project around June 2017.

Source: Straits Times/ AsiaOne

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