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Another New and Upcoming
Executive Condominium by
CDL Developments

Coming 2019

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PROJECT DETAILS/ AMENITIES

 
 
 
 

** 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.

sumang ec img

The Housing and Development Board (HDB) has sold a residential site in Sumang Walk, an extension of Punggol Central, as part of Government Land Sales (GLS). This land parcel is bounded by Sumang Walk, Sumang Link and Punggol Way. It is under the Punggol Planning area and is located in the North-East Region of Singapore.  This land site in Sumang Walk, is listed under the confirmed list of sites and is allocated to be developed into an Executive Condo (EC). It has a land site area of 291,693 square feet land and is expected to house 820 residential apartments.


CDL Developments, Constellation and TID Residential won the top bid of S$509.37 million, which translates into S$583 per square foot per plot ratio (psf ppr).

  

Punggol Sumang Walk New EC Launch- Connectivity
New and upcoming EC at Sumang Walk is a short walk to Sumang and Nibong LRT Station which connects seamlessly to Punggol MRT Station, serving the North-East Line and the Punggol Bus Terminal. Future residents will have ease of connectivity not only the MRT line and the integrated transport system but also the Tampines Expressway (TPE) and Kallang Expressway (KPE) which is a short drive away will give more options of convenience to residents. New Sumang Walk EC Punggol is approximately 18 minutes drive to Orchard Road shopping belt, City Centre and Downtown Central Business District (CBD).

 

Punggol Sumang Walk New EC Launch- Amenities
The new Waterway Point which is a short distance walk away, will bring future residents of New Sumang Walk EC with exciting and convenient suburban shopping, dining and entertainment experiences with its huge range retail, F&B and entertainment facilities. It provide convenience for future residents in getting their dining, leisure, shopping and entertainment needs with numerous retail shops, eating outlets and supermarket. The upcoming Punggol Food Centre will also give many choices to Sumang Walk EC’s future residents with local delights.

When it comes to recreation purposes, New Sumang Walk EC is close to My Waterway @ Punggol, a 4.2 km long waterway offering pockets of greenery, promenades, cycling tracks, water sports and various outdoor activities for its  residents’ enjoyment. My Waterway @ Punggol also connects to the Sengkang Riverside Park, the Punggol Park, the Punggol Waterway Park and the Punggol Point Park. Residents can enjoy an active life-style, taing advantage of the cycling/ jogging paths of the Punggol Park Connector. Residents will embrace in what nature has to offer and experience tranquility along Waterway @ Punggol. Its future residents can enjoy the 4 themes available at My Waterway @ Punggol namely, the Nature Cove, the Recreation Zone, Heritage Zone and Green Gallery. There is a bridge over the Serangoon Reservoir which is connecting The future residents to the Lorong Halus wetland. This is a new attraction teeming with wildlife and dotted with information kiosks and a visitor centre.

Residents can also enjoy their days in the new and upcoming Safra Punggol Clubhouse which is located at Sam Kee LRT Station, New and upcoming EC in Sumang Walk is a short distance drive to Marina Country Club where residents can enjoy many water activities and also dining and drinks here while enjoying the tranquility of Sungei Punggol Reservoir.

 

Punggol Sumang Walk New EC Launch- Education
New and upcoming Sumang Walk EC future residents with school going children can choose from a wide selection of local schools in its vicinity such as Anchorgreen Primary School, Compassvale Primary School, Punggol Cove Primary School, Horizon Primary School, Greendale Primary School, Edgefield Primary School, Mee Toh School, Punggol View Primary School, Rivervale Primary School and Oasis Primary School. The secondary schools include Compassvale Secondary School, Greendale Secondary School, Punggol Secondary School and Edgefield Secondary School.


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Project  Sumang Walk New Punggol Executive Condo EC
Developer  CDL Developments and TID Residential
Location  Sumang Walk (Punggol Planning Area)
District  19
Tenure  99 years lease
Site Area  27,956 square metres/ 297,693 square feet
GFA:
Plot Ratio  3.0
Expected TOP:
Total Units  Proposed 820 residential apartments
Total Carpark
Development  Proposed Executive Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC and SC/ SPR can buy


 


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LOCATION MAP

Sumang Walk Sumang Link Punggol Way

EC- Sumang Walk location map

Sumang Walk land plot view

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The New Sumang Walk 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 Sumang Walk Punggol or would like to know more about progressive and deferred payment schemes, Please

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PRICES PSF

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PUNGGOL NEW TOWN

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 Sumang Walk Punggol 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.

CDL DEVELOPMENTS WON TOP BID FOR PUNGGOL EC LAND SITE IN SUMANG WALK A NEW RECORD BENCHMARK PRICE

SINGAPORE: A land parcel at Sumang Walk attracted 17 bids at the close of its tender on Tuesday (Feb 27).

The Housing and Development Board (HDB) said the sale site, earmarked for executive condominium (EC) housing, received a joint top bid of S$509.37 million from CDL Constellation and TID Residential. This works out to about S$6,275 per square metre of the gross floor area (GFA).

Mr Ong Teck Hui, National Director for Research at JLL, said: “At $583 psf/pr, it is a stunning top bid for the subject parcel which is way above market expectations and also a record EC unit land price. 

"This is also 64 per cent higher than the top bid of S$355 psf/pr for the Anchorvale Lane site in August 2016, which was the last EC tender.”

Mr Ong said the absence of an EC land tender for one and a half years, an "undersupplied market" with less than 1,000 EC units unsold and a rising private residential market may have contributed to the "bullish outlook" among bidders.

"There seems to be an assumption that EC prices will rise by more than 20 per cent by the time the project on the subject site is launched," he added.

The tender for the 27,056.4 sq m site was launched on Dec 12, 2017. In a press release, HDB said the 99-year leasehold site can potentially yield a maximum of 820 dwelling units. 

The HDB added that a decision on the award of the tender will be made after all bids have been evaluated.

In the event that CDL and TID are awarded the site, they will explore an EC project comprising 13 blocks of 10 to 17 storeys with about 820 units and a basement carpark, CDL said in a statement on Tuesday.

Mr Sherman Kwek, group CEO of CDL, said: "We are very pleased to win this keenly contested Sumang Walk EC site. This will be CDL's ninth EC project and we are confident of its success given its excellent location and desirable attributes."

Source: Channel News Asia

The government is extending the project completion period (PCP) for executive condominium (EC) sites from four years to five years.

The longer PCP starts with the EC site in Sumang Walk in the Punggol area, which was launched on Tuesday by the Housing & Development Board (HDB) under the confirmed list of the second-half 2017 Government Land Sales (GLS) Programme.

When contacted, a spokesman for HDB noted that the four-year PCP for EC sites had been in place since 1997 and that the extended time frame for completion is in response to developers' requests.

With this change, the PCP for EC sites is now the same as that for private housing sites sold by the state.

ECs are a public-private hybrid form of housing with initial buyer eligibility and resale conditions that are completely lifted 10 years after an EC project has been completed.

The 2.7-hectare Sumang Walk site is adjacent to My Waterway @ Punggol and can potentially yield about 820 residential units. It is expected to be keenly contested given the dearth of EC sites and a potential shortage of new EC units in coming months.

JLL national director Ong Teck Hui noted that the last EC site tender was that for Rivercove Residences in Anchorvale Lane in August 2016. In Punggol, there has been no EC site for tender since the land parcel of The Terrace was sold in July 2013.

"Therefore the EC market has been starved of new sites for a long time while there is probably significant pent-up demand as seen in the quick sell-out of Hoi Hup Realty's 531-unit Hundred Palms Residences in Yio Chu Kang Road on its first day of launch in July this year. "

ZACD Group executive director Nicholas Mak notes there there is only one more EC project that has yet to be launched - the 628-unit Rivercove Residences by Hoi Hup and Sunway Developments. "As a result, there could be a looming shortage of new EC units in the primary market in the next few months."

"The 99-year leasehold site is within a reasonable distance from Punggol MRT Station, Waterway Point, schools, the bus interchange and other amenities. EC buyers will be attracted to the development due to these amenities," Mr Ong said.

Mr Mak said that residents on the higher floors of some blocks in the future project on the Sumang Walk site may also enjoy views of Sungei Punggol.

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