PROJECT DETAILS
** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a BTO, a new launch EC or Private Condo, let us discuss your best possible option.
** EXISTING HDB OWNERS: Prices of HDBs are staying stagnant, if not dropping. Preserve your wealth. If 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. Grow your wealth. We do not want to under-leverage ourselves.
The Housing and Development Board (HDB) has sold 4 residential sites in Sembawang, near new Canberra MRT Station, as part of Government Land Sales (GLS), in 2019 and 2020. They are located at the North Region of Singapore, and are listed under the confirmed list of sites and are allocated to be developed into Executive Condominiums and Private Condominiums.
Canberra is turning itself into a new estate and is increasing in popularity as an integrated estate. It is located between Yishun and Sembawang housing estates. The residents will benefit not only from Canberra MRT Station but also Bukit Canberra, an upcoming sports and community hub which is set to open progressively from 2020. The sites are also walking distance to both new Canberra Plaza and Sembawang Shopping Centre.
2 of these land parcels are along Canberra Link towards Yishun Avenue 2 and is bounded by Canberra Walk and Canberra Road. These 2 sites are allocated to be developed into Executive Condominiums (EC).
The other 2 land parcels are along Canberra Drive, the same road that leads to Brownstone EC and Visionaire EC. These 2 sites are bounded by Canberra Drive, Jalan Sendoduk and Jalan Kemuning. They are allocated to be developed into private condominiums.
The 1st plot of land for New EC at Canberra Link has a site area of approximately 194,187 square feet and will be home to approximately 450 households upon completion.
Hoi Hup and Sunway Developments won the top bid of S$271 million, which translates into S$558.22 per square feet per plot ratio (psf ppr) for the 1st plot. The estimated break-even price for new EC at Canberra Link is approximately between S$950 and S$1,000psf.
New EC- Parc Canberra
New EC- Parc Canberra
The 2nd plot of land is located next to the 1st site and measures 179,651 square feet and will house approximately 385 residential units.
MCC Land (Singapore) won the top bid of S$233.89 million, and this translates into S$566 psf ppf for this plot. The estimated break-even price for 2nd New EC at Canberra Link is approximately at S$1150psf.
The 3rd and 4th plot of land are located along new road, Canberra Drive.
Parcel A spans an area of 143,325.88 square feet. It can yield about 220 housing units. Oasis Development, which is owned by boutique developer, JBE Group, won the top bid of S$129.20 million. This translates into a land cost of S$644 psf ppr.
The larger Parcel B has an area of 296,721 square feet and It can yield about 455 units. UOL Group won the top of S$270.2 million, translating into a land cost of S$650 psf ppr.
These 2 land parcels are expected to launch at a price of S$1350psf.
Other developments that are in the vicinity of Canberra include The Nautical, Springhill, Yishun Emerald, Yishun Sapphire, Eight Courtyards, Sky Park Residences, Parc Life, Brownstone and The Visionaire.
Canberra, located in between Yishun and Sembawang Housing Estates, in the Northern Region of Singapore, is turning itself into a new estate. Residents here will benefit not only from Canberra MRT Station but also Bukit Canberra, an upcoming sports and community hub which is set to open progressively from 2020. The sites are also walking distance to both new Canberra Plaza and Sembawang Shopping Centre.
Leverage on your Income/Profit to enjoy privilege of ECs with High profit margin
New EC Launch at Canberra Link- Connectivity
New and Upcoming Canberra Link EC is approximately 300 m away from new Canberra MRT Station, along North-South Line, which started operation in 2019 and 700 m away from Sembawang Town Centre where future residents can access to the Sembawang Interchange and Sembawang MRT Station.
To drive to the Orchard Shopping area from Visionaire, it will take approximately 21 minutes. It will take approximately 24 minutes for future residents of New EC to head down to the Central Business District (CBD). The nearby Seletar Expressway (SLE) allows easy connectivity to the Tampines Expressway (TPE) and the Central Expressway (CTE) which makes driving a breeze to various parts of Singapore from New Canberra Link EC.
New EC Launch at Canberra Link- Amenities
New Canberra Link EC is a short walk to new Canberra Plaza, where residents can find all their daily neccessites and have also Learning, Education and Dancing Schools, Bakeries, Star Bucks, Cafes, NTUC, Cold Storage and other retail shops, hence bringing further conveniences to future residents of Canberra.
The Sun Plaza which is approximately 500 m away where future residents may access to many retail outlets, eating joints and supermarket where they can get their daily necessities. Alternatively, future residents may patronise Sembawang Shopping Centre which is a short drive away.
New EC at Canberra Link is a short drive away to Chong Pang City where future residents can get a wide array of groceries, daily necessities to various services. In the heart of this neighbourhood town centre. It is 1 MRT Station to North Point City, the Biggest Shopping Mall in the Northern Region of Singapore, where residents can have spoilt of choices of dining, shopping, leisure and entertainment.
New EC Launch at Canberra Link- Education
There are many schools such as Sembawang Primary School, Wellington Primary School, Canberra Primary School, Endeavour Primary School, Ahmad Ibrahim Primary School, Chongfu Primary School, Yishun Primary School, Xishan Primary School, Sembawang Secondary School, Ahmad Ibrahim Secondary School, Canberra Secondary School and also Northland Secondary School.
New EC Launch- Parc Canberra- Developer
The developer of Parc Canberra is 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.
New ECs and Condos here in Canberra, being a new town with new amenities, services and good connectivity will bring good potential capital gains for the residents here. It is nestled in the tranquility and serene of greenery where future residents can laid back and relax in too.
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| Project | Parc Canberra |
| Developer | Hoi Hup and Sunway Developments |
| Location | Canberra Link (Sembawang Planning Area) |
| District | 27 |
| Tenure | 99 years lease |
| Site Area | 18,040 square metres/ 194,187 square feet |
| GFA: | 45,101 square metres/ 485468 square feet |
| Plot Ratio | 2.5 |
| Expected TOP Date: | September 2023 |
| Total Units | 492 residential apartments |
| Total Carpark | TBA |
| Development | Executive Condo comprising of communal facilities |
| Unit Type: | 2, 3, 4 and 5 Bedrooms |
| Architect | |
| Eligibility | SC/ SC, SC/SPR can buy |
| Project | Canberra Link New EC 2020/ 2021 |
| Developer | MCC Land (Singapore) |
| Location | Canberra Link (Sembawang Planning Area) |
| District | 27 |
| Tenure | 99 years lease from |
| Site Area | 16,689 square metres/179,651 square feet |
| GFA: | 38,387 square metres/ 413,197 square feet |
| Plot Ratio | 2.5 |
| Expected TOP Date: | |
| Total Units | Approximately 350 residential apartments |
| Total Carpark | TBA |
| Development | Executive Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR can buy |
LOCATION MAP and AMENITIES
New Canberra Link EC is walking distance to a new Canberra MRT station, along the North-South Line. An approximate 5 minutes walking distance to Canberra MRT Station adds convenience and efficiency to the residents of the Ec in Canberra Link.
3 sites within the vicinity of New Condo at Canberra have been zoned and reserved for schools.
Amenities Near New Canberra Link EC
| Category | Important Amenities Near New EC at Canberra Link | Approximate Distance |
| Train Stations | Sembawang (NS13) Canberra ( NS12) |
0.7km 0.3km |
| Bus Stop | Aft Canberra Road (Bus: 167, 856, 858, 859, 980) Bef Canberra Road (Bus: 167, 856, 858, 859, 980) |
0.2km 0.3km |
| Supermarkets | Giant (Sembawang Shopping Centre) Fairprice (Sun Plaza) Cold Storage (Northpoint) Prime (761 Yishun) |
0.5km 0.8km 2.1km 2.5km |
| Shopping Malls | Sembawang Shopping Centre Sun Plaza |
0.5km 0.8km |
| Education Institutions | Preschool | |
| Edelweiss Kindergarten PCF Chong Pang Blk 317-315 PCF Sembawang Blk 507D-501D-503C PCF Canberra Blk 330-319-327-328 Putra-Putri Kindergarten Zulfa Kindergarten @ Sembawang Mart PCF Canberra Blk 413 – 405 PCF Canberra Blk 468D-468C PCF Chong Pang Blk 122 Darul Makmur Mosque Kindergarten |
0.5km 0.6km 0.7km 0.9km 0.9km 1.0km 1.1km 1.4km 1.4km 1.4km |
|
| Primary | ||
| Sembawang Primary School Wellington Primary School Canberra Primary School Endeavour Primary School Ahmad Ibrahim Primary School Chongfu Primary School Yishun Primary School Xishan Primary School |
0.5km 1.0km 1.3km 1.3km 1.6km 1.7km 1.7km 2.0km |
|
| Secondary | ||
| Sembawang Secondary School Ahmad Ibrahim Secondary School Canberra Secondary School Northland Secondary School |
1.0km 1.2km 1.5km 2.0km |
|
| Junior College | ||
| Yishun Junior College | 2.4km | |
| Tertiary | ||
| Republic Polytechnic | 4.5km | |
| International | ||
| GEMS World Academy | 3.6km | |
| Food Centre | Chong Pang Market & Food Centre | 1.7km |
| Lifestyle | Montreal Green Eagle Club Terror Sea Scout Yishun Neighbourhood Park Terror Club HomeTeamNS @ Sembawang |
0.3km 1.0km 1.3km 1.4km 1.4km 1.4km |
FACILITIES SITE and FLOOR PLANS PLAN E-BROCHURE
The Facilities and Site plan of new EC at Canberra Link, Sembawang, are currently seeking approval from relevant authorities.
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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.
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.
2015
Sea Esta
Condominium Housing Development comprising of 6 blocks of residential building (376 units) at Pasir Ris Link.
Yishun Greenwalk
Public Housing Development comprising of 12 blocks of residential building (1400 units) at Yishun Avenue 9
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.
2014
The Miltonia Residences
Condominium Housing Development comprising of 18 blocks of residential building (410 units) at Miltonia Close
Lake Vista
Public Housing Development comprising of 4 blocks of residential building (682 units) at Yuan Ching Road
Arc@Tampines>;;
Executive Condominium Housing Development comprising of 9 blocks of residential building (574 units) at Tampines Avenue 8
Fernvale Foliage
Public Housing Development comprising of 4 blocks of residential building (504 units) at Sengkang West Way
TOOLBOX
Single-user Industrial Development with ancillary facilities at Tuas South Street 12
The Foresta @ Mount Faber
Condominium Housing Development comprising of 4 blocks of residential building (141 units) at Wishart Road
Vacanza @ East
Condominium Housing Development comprising of 7 blocks of residential building (473 units) at Lengkong Tujoh
2013
Questa @ Dunman
Condominium Housing Development comprising of 2 blocks of residential building (122 units) at Dunman Road
2012
Residences @ Killiney
Condominium Housing Development comprising of 2 blocks of residential building (68 units) at Killiney Road
Casa Clementi
The Peak @ Toa Payoh
Public Housing Development comprising of 5 blocks of residential building (1203 units) at Toa Payoh Lorong 1A
2011
Damai Grove
Public Housing Development comprising of 8 blocks of residential building (738 units) at Punggol Drive
Shelford 23
Condominium Housing Development comprising of 2 blocks of residential building (33 units) at Shelford Road
2010
Buona Vista Court
Public Housing Development comprising of 4 blocks of residential building (828 units) at Holland Drive
City View @ Boon Keng
Public Housing Development comprising of 3 blocks of residential building (714 units) at Boon Keng Road
Charlton Villas
Terrace and Semi-Detached Housing Development (39 units) with common facilities at Charlton Lane
Dover Gardens
Public Housing Development comprising of 4 blocks of residential building (943 units) at Dover Crescent
Waterford Residence
Condominium Housing Development comprising of 2 blocks of residential building (118 units) at Kim Yam Road
Versilia on Haig
Condominium Housing Development comprising of 2 blocks of residential building (128 units) at Ipoh Lane
Suites @ Cairnhill
Condominium Housing Development comprising of a block of residential building (48 units) at Anthony Road
Coralinus
Public Housing Development comprising of 6 blocks of residential building (365 units) at Punggol Place
2009
Hoi Hup Building
Multiple-users Industrial Development with basement carpark at Jalan Kilang
The Ford@Holland>;
Condo housing development comprising of 2 blocks of residential building (85 units) at Ford Avenue.
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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HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE
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.
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 iin Canberra Link will look into a long term investment with high profit margin.
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.
14 DEVELOPMENTS THAT WILL BOOST NORTH REGION and BENEFIT RESIDENTS
Woodlands North Coast
The woodland area is going to developed it a waterfront area lined with residential and recreational properties spanning 70 hectares. There is also going to be a business center not far from the waterfront which will contain the first business spark in the North office space especially or small and medium enterprises
Woodlands Central
The area around the MRT station and the causeway Point mall is going to be upgraded into a major retail center at the heart of which will be pedestrian mall that is expected the 30 hectares that make up the hub.
Woodlands General Hospital
There are plans to have the Woodllands General hospital up and running by the year 2022. This hospital that is expected to have a 1800 beds capacity is also expected to have a nursing home within its premises
Kampung Admiralty
The Kampung Admiralty that is expected to be completed and ready for use by the year 2017 is a one stop center containing everything from shopping plaza, facilities for the young and elderly as well as residential areas.
Sun Plaza
This plaza was upgraded in 2015 with addition o retail spaces. Found within the mall are a public library and a food court.
Canberra Park
Renovation works on the Canberra Park ended in 2015 and the park was reopened thereafter. New facilities like the tai chi corner were added but what immediately stands out is the new playground that is the first All inclusive playground ever in Singapore which allows for visually impaired and other disabled children to use the facilities at the playground.
Canberra MRT Station
The Canberra MRT station has started its operation in 2019 on the North-South Line and wil serve 17,000 households in the vicinity, reducing travelling time to the Central Business District (CBD) from 50 minutes to 40 minutes and is one stop to NorthPoint City Mega Mall in Yishun.
Canberra Plaza
The Canberra Plaza has completed in 2019 is a three storey hub that contains everything a homemaker needs. From restaurants, supermarket to clinics it is a one stop shop and great for those who work most of the day. It is located close to the Canberra MRT station and will give residents here more amenities for their daily necessities.
Sembawang Shopping Centre
This is a great local destination for family outings given that it has everything from restarants to retail shops. Activites at this shopping mall will give additional convenience to the residents of Canberra.
North-South Expressway
The North South Expressway is going to be the first expressway in Singapore with dedicated lanes for buses, cyclist and pedestrians. This 21.5km highway is expected to go through areas like Sembawang, Bishan and Ang Mo Ko. It is expected that thanks to this expressway, commuters will be able to reach home or offices faster especially during peak hours
Thomson-East Coast Line
Beginning from 2019, the opening of the Thomson East Coast Line will be phased. Thanks to this line two additional Woodlands North and South will be opened. Thanks to the Thomson East Coastline and the additional MRT stations, residents of areas like Marina Bay will be able to commute directly through and from their neighbourhoods. Also it will become easier for visitors to the zoo to get to the zoo using the MRT station at Springleaf.
Cross border rail link
The cross border rail ink is going to provide a better commuting experience for cross border travelers. The planned Rapid Transit System will ink North MRT station in Woodland directly to areas like Johore Bahru. Visitors from Malaysia can spend quality time at the bus interchange with its many offices and eateries.
Bukit Canberra
Plans to build a sports and community hub in Sembawang. This hub is located between Canberra MRT Station and Sembawang MRT Station and will contain facilities like swimming pools, and centers for the young and elderly.
There is obviously going to be a big transformation in the North of Singapore beginning the 2020. All these construction works are going to be beneficial to the residents in North Region and population will increase here.
2 EC LAND SITES LAUNCHING IN CANBERRA LINK HOI HUP and MCC LAND IN 2021
1) Canberra Link Executive Condominium (EC) site which has been put up for tender in June has garnered nine bids as of closing, with the highest bid reaching $271m coming from a consortium by Hoi Hup Realty and Sunway Developments, the Housing and Development Board (HDB) revealed. Parc Canberra
Considering the nine bids, Knight Frank Singapore senior director and head of research Lee Nai Jia said that the site, which is near to the upcoming Canberra MRT station eyed for completion by December 2019, has received more interest compared to the last land parcel sold via public tender in October 2014, which only attracted 2 bids.
Hoi Hup Realty and Sunway Developments submitted the highest bid for the Canberra Link executive condominium (EC) tender for S$271 million, or S$558.22 psf per gross floor area, in a hotly-contested tender that drew nine bidders in all.
The second highest bidder was Greatview Investment and MCC Land with a bid of S$258.9 million or S$533.28 psf. The lowest bidder was JBE Development with a bid of S$201.8 million or S$415.72 psf.
Also taking part in the tender was Qingjian Realty subsidiary CNQC Realty (Treasure) Investment with a S$252.8 million bid, a tie-up between Evia Real Estate (8) and Gamuda (Singapore) for a S$250.9 million offer and a CDL Constellation (City Developments' wholly owned subsidiary) and TID Residential offer of S$245.8 million.
UED Residential and TSKY (Jervois), a subsidiary of Tiong Seng Holdings, bid S239.2 million; Kheng Leong's Peak Land bid S$228.3 million and Sim Lian Land offered S$205 million.
2) Another 99 year leasehold executive condominium or EC housing site along Canberra Link in the Sembawang area, has drawn eight bids.
The highest bid, from MCC Land (Singapore), was at S$233.89 million, translating to about S$566 psf ppr. This pipped the second-highest bid of S$233.5 million from a partnership between City Developments unit CDL Constellation and TID Residential.
MCC Land's chief executive officer Tan Zhiyong said the group had previously developed two EC projects (One Canberra and The Canopy) as well as project managed two other EC developments for other developers (Forestville and Northwave). All four EC projects are in Singapore's north.
"Leveraging on our experience, we are confident of developing an exciting EC project of about 385 units on the latest site, which will reflect the rapidly evolving landscape of this northern estate. Overall, the EC market holds considerable prospects in the next few years with a continued controlled supply and widening EC-private condominium price gap," he added.
The second highest bid was offered by CDL Constellation and TID Residential at $233.5 million. Also bidding for the Canberra Link site was a tie-up between Hoi Hup Realty and Sunway Developments, which offered S$223.3 million for the site. Sim Lian Land bid S$218 million.
The lowest bid, from JBE Development, came in at slightly more than S$178 million or S$430.80 psf ppr.
2 NEW PRIVATE CONDO SITES ALONG CANBERRA DRIVE SOLD DESPITE OF UNCERTAINTIES
Bids for URA GLS residential site tenders reflects developers’ caution amid uncertain times
The Urban Redevelopment Authority (URA) announced on March 3 that it has closed tenders for two residential sites at Canberra Drive.
This marks the fifth batched URA residential site tenders since November 2017 and presents three mass-market residential sites of different bite sizes to developers.
Mr Desmond Sim CBRE’s Head of Research for Southeast Asia commenting on the URA residential site tenders said:
“Canberra Drive (Parcels A and B)
These two GLS sites were launched for sale under the Confirmed List of the GLS programme for the second half of 2019. They were initially put on the Reserve List of the first half of the 2019 GLS programme as a single plot, but are now split into two parcels on the confirmed list. This will ensure that the sites are more digestible and will appeal to more developers.
Parcel B is almost twice as large as Parcel A, yielding up to 455 units while Parcel A can yield 220 units. The sites are attractive considering their proximity to Canberra MRT station, Sembawang Shopping Centre and Sun Plaza.
Recent transactions include Kandis Residence which was sold at a median price of S$1,254 psf in Q1 2020, with a relatively well take-up of about 75%. The most recent GLS sites awarded in the area were two EC sites at Canberra Link awarded at $558 psf ppr to Hoi Hup/Sunway, and $566 to MCC Land.
Nearby comparable private condominium projects such as Eight Courtyards (completed in 2014), The Nautical (2015) and Canberra Residences (2013) traded at SGD900-1,000 psf over the past 12 months. In February, newly-launched 496-unit Parc Canberra EC achieved sales of 64% (316 units) at an average price of SGD1,085 psf.
These two sites should benefit from the Canberra MRT which turned operational since 2 November 2019, and Bukit Canberra, an upcoming sports and community hub in Sembawang set to open progressively from 2020.
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