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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.

Canberra Link EC location

The Housing and Development Board (HDB) has sold a residential site in Sembawang, near upcoming Canberra MRT Station, as part of Government Land Sales (GLS). Located between Yishun and Sembawang Housing Estate, this land parcel is along Canberra Link towards Yishun Avenue 2 and is bounded by Canberra Walk and Canberra Road. 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 Condominium (EC). 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). The estimated break-even price for new EC at Canberra Link is approximately between S$950 and S$1,000psf.

  

New and Upcoming Canberra Link EC is opposite of The Visionaire EC and The Brownstone EC, along Canberra Link and also opposite of the former Admiral House which is located along Sembawang Road, and is reserved to be developed for future sports and recreation developments.


Other developments that are nearby New EC in Canberra Link include The Nautical, Springhill, Yishun Emerald, Yishun Sapphire, Eight Courtyards and One Canberra. New EC is close to other ECs which include Sky Park Residences, Parc Life, Brownstone and The Visionaire.

 

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 future Canberra MRT Station which will be ready in 2019 and 700 m away from Sembawang Town Centre where future residents can access to the Sembawang Interchange and Sembawang MRT Station which operates the North South Line. 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 the Sembawang Shopping Centre 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 Sun Plaza located at Sembawang Town Centre. 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 at Canberra Link- Developer
The developer of New Canberra Link 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.

 

New Canberra Link EC is nested in the tranquility and serene of greenery and is next to private residential estate, where future residents can laid back and relax in. 


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Project  Canberra Link New EC
Developer  Hoi Hup and Sunway Developments
Location  Canberra Link (Sembawang Planning Area)
District  27
Tenure  99 years lease from
Site Area   18,040 square metres/ 194,187 square feet
GFA:   45,101 square metres/ 485468 square feet
Plot Ratio  2.5
Expected TOP:
Total Units  Approximately 450 residential apartments
Total Carpark  TBA
Development  Executive Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR can buy
 
Canberra Link New EC Unit Mix Distribution
Unit TypeTypeArea (Square Feet)Total No. of Units
1 Bedroom TBA TBA TBA
2 Bedroom TBA TBA TBA
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse TBA TBA TBA
Canberra Link New EC Facilities
TBA
  • TBA
  • TBA
Canberra Link New EC Price List
Unit TypeArea (Square Feet)PricingPSF
1 Bedroom TBA TBA TBA
2 Bedroom TBA TBA TBA
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse TBA TBA TBA

LOCATION MAP and AMENITIES

New Canberra Link EC is walking distance to a new MRT station, between Yishun and Sembawang MRT Station, along the North-South Line. And the future station will be ready in 2019. An approximate 5 minutes walk distance to the upcoming Canberra MRT Station adds convenience and efficiency to the residents of the Ec in Canberra Link.

2 sites within the vicinity of New Condo at Canberra Link have been zoned and reserved for schools.

Canberra Link Ec

There will be 5 entrances to Canberra MRT Station and it will be linked and integrated to a site, opposite the MRT Station, zoned for future commercial cum residential development, hence bringing further conveniences to future residents.

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.

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


14 DEVELOPMENTS THAT WILL BOOST NORTH REGION and BENEFIT RESIDENTS

News North Region of Singapore

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 Plaza
The Canberra plaza expected to be completed come 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.  The fact that it is located close to the Canberra MRT station means it will definitely become the best place for commuters to do their shopping before they catch their train.

Canberra MRT Station
The Canberra MRT station is slated to be completed by the year 2019. Once completed, it will provide a faster way for commuters between Sembawang and Yishun to travel faster by skipping the need to use buses to the MRT stations.

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 are definitely going to increase once the Canberra MRT station goes operational. 

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 Thomas East Coast Line will be phased. Two additional stations, Woodlands North and South will be opened. With the Thomson East Coast l Line and the additional MRT stations, residents will be able to commute directly through and from their neighbourhoods. Upper Thomson, Havelock, Marina Bay, Marine Parade and Bedok. Also it will become easier for visitors 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 link North MRT station in Woodlands directly to areas like Johra Bahru. Visitors from Malaysia can spend quality time at the bus interchange with its many offices and eateries.

Sembawang Sports and Community Hub
There are plans to build a sports and community hub in Sembawang to be completed in 2018. This hub located very close to the planned neighbourhood will contain facilities like swimming pools, and centers for the young an elderly.

There is obviously going to be a big transformation in the North Region of Singapore beginning from 2018. All these construction works are going to be beneficial to the residents in Northern Region and population will increase. Demand for housing will Grow

Sembawang Master Plan

Sembawang Master Plan 2

New Canberra Link EC at Sembawang: Improvements on housing and amenities for Sembawang residents
As a growing town, Sembawang will be developed with more amenities, transport infrastructure and housing for its residents. Potential homeowners can look forward to more housing choices as new area in the South and East of Sembawang will be developed progressively. Accompanying these developments will be new facilities and amenities to serve current and future residents.

Residents can look forward to

  • Opening up of new housing areas along Canberra Link. A new primary school at Sembawang Drive will welcome its first batch of students in 2014
  • A Nursing Home, a Christian Home, at Sembawang Crescent will serve the needs of our elderly residents
  • A foreign system school will be developed at Jalan Ulu Sembawang
  • A new neighbourhood centre will serve the needs of residents at Canberra Link
New Canberra Link EC at Sembawang: Leisure: Healthy life-style options for every family
With a variety of parks and recreational spaces to choose from, residents of Sembawang have many options. With a growing cycling culture, new initiatives will enhance cycling connections and facilities within Sembawang for a better and safer cycling experience.

New developments and facilities include:
  • The revamped Sembawang Park, which now includes an adventure playground, barbaque pits and a pentaque court
  • Additional neighbourhood parks to build on the green character of Sembawang.
  • A vibrant one-stop community hub set in the green space off Sembawang Road that will provide residents with sports and community facilities.
  • An expanded cycling network for Sembawang Neighbourhood 1 and new park connectors which form part of the Round Island Route, to connect residents to other parts of Singapore.
New Canberra Link EC at Sembawang: Transport: Smoother and Shorter journeys
With the following enhancements to road infrastructure and public transport services, residents can look forward to faster and more convenient travel including
  • The possible addition of a New MRT Station on the North South Line between Sembawang and Yishun.
  • The future North-South Expressway NSE, which will reduce the travelling time to and from the city
  • The new road, Yishun Ave 8, which will connect to Seletar West Link, and provide an alternative route to the Central, Tampines and Seletar Expressways.
  • The new road network at Sembawang Neighbourhood 1, which will serve new developments in the area.
New Canberra Link EC at Sembawang: Economy: More jobs near home
With Upcoming industrial developments along Gambas Avenue, Sembawang residents can expect more employment opportunities closer to homes. The Upcoming developments of Woodlands Regional Centre North Coast Wafer Fab Park nearby will also bring jobs closer to residents.

Sembawang Sports and Recreation Centre

First, an adventure park will be developed. In time, a sports complex with a swimming pool and stadium will be built. Such sports facilities are coming to northern Singapore, and the 80,000 Sembawang residents will be the prime beneficiaries.

Residents will enjoy a 1.5ha Inclusive Adventure Park designed for all ages, which will house the largest number of swings in Singapore, including those for children, toddlers and people with disabilities. Other highlights include an amphitheatre, bicycle stations and third-generation fitness stations. Residents also have a say in the park’s colour theme.

There are also plans for bigger sports facilities in 10 years.

Details are being worked out, and options include integrating the sports complex with a park, library and hawker centre. The complex is likely to be sited next to Sembawang MRT Station. The plans are not only for infrastructure development.

With more sports facilities, residents are looking at increasing the events to be staged in Sembawang in future.

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 iin Canberra Link 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.

HOI HUP REALTY and SUNWAY DEVELOPMENTS WON TOP BID FOR EC LAND SITE IN CANBERRA LINK SEMBAWANG

The 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.

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.

The 99-year land parcel in Canberra Link was launched for tender on June 28, for a 194,187 sq ft site that will yield an estimated 450 units. It has a maximum gross floor area of 485,468 sq ft with a gross plot ratio of 2.5.

“Notwithstanding, the latest bid is validated by recent selling prices as at 2018,” Lee said. “The prices of surrounding developments, such as Parc Life and The Visionaire, were selling between $750 to $1,000 psf, depending on size, facing and storey level for the first eight months in 2018.”  

Meanwhile, Huttons Asia head of research Lee Sze Teck thinks that the EC market is ‘largely insulated’ from the cooling measures.

“The demand is strong for this market segment judging from the sellout success for Rivercove Residences,” he explained. “Also there is no more EC units in the market for buyers to choose.”

Because of this, he believes that there will be a buildup in demand until the next EC launch in Canberra Link.

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