PROJECT DETAILS/ AMENITIES
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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- 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- 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- 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.
Punggol Sumang Walk New EC- Developer
City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore’s largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally.
CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers.
Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia. The Company is also leveraging its stable of prime assets and growing its real estate funds management business. It currently has over $3.5 billion in funds under management.
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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 |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site plan of new EC at Sumang Walk, Punggol, are currently seeking approval from relevant authorities.
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PUNGGOL NEW TOWN
Punggol is building quickly to hold up the population increase on the island and people will start to move into Punggol starting from 2014/ 2015 when the projects start to get their TOP.
Punggol has transformed into a residential eco-town, providing a high-quality living environment amidst a dense green and blue network. As the town continues to develop, residents can look forward to new retail amenities, more community and recreation facilities, enhanced transport connectivity, as well as more job opportunities close to home.
New Sumang Walk EC Punggol: Fulfilling dreams at the waterfront
Punggol is steadily shaping up to be one of the most sought-after housing location in Singapore. This waterfront town currently offers a wide variety of housing options, with residents enjoying easy access to amenities as well as parks and recreation spaces. Future developments will focus on providing even more housing choices while bringing greater convenience to daily living and making waterfront leisure more accessible to the residents of Punggol, including:
- New waterfront housing districts spread across the town. This will start with the Matilda District, which will pay homage to the former plantations and historic Matilda House in the area, and the Northshore District which will feature an extensive network of second-storey walkways connecting residents outwards to the sea
- Punggol Town Hub, an integrated community hub development that includes a Community Centre, hawker centre and a regional library, located within the Town Centre
- Punggol Town Square, a gathering space for community activities, overlooking My Waterway@Punggol.
- Waterway Point, a new shopping centre adjacent to Punggol MRT Station.
- A new polyclinic along Punggol Drive and the Bright Hill Nursing Home on Punggol Field, easily accessible by LRT.
- A new F&B development at Punggol Point
- Additional primary schools will be built in the coming years to meet the needs of residents
New Sumang Walk EC Punggol- Shopping and Amenities
Punggol Waterfront Mall- Waterway Point
Waterway Point- the first suburban waterfront mall to be developed in Singapore, will provide a fresh retail and lifestyle experience, adding vibrancy to Waterfront Town. The mall, targeted to be completed in 2015, will boast a first-of-its-kind cinema with an estimated 1,000 seating capacity and boasts the first ever suburban late-night shopping, dining and entertainment concept by the waterfront. It comprises 4 levels inclusive of 2 basements, and has a tenant mix of approximately 30% F&B, 40% retail, 15% entertainment, 15% others (education institutions, banks, civic & community amenities such as a library).
New Sumang Walk EC Punggol: More recreational choices for young and old
Today, Punggol residents young and old have a host of recreational options at their doorstep, from leisurely strolls and cycling along My the Waterway@Punggol and Punggol Promenade, to exercising at fitness stations amidst the greenery of Punggol Town Park. More green spaces and recreation facilities will be developed in the coming years for residents to enjoy an active and healthy lifestyle. These include:
- A rustic park on Coney Island
- More green spaces that bring residents closer to the waterfront
- Sports Facilities and a SAFRA Clubhouse located within the Town Centre.
New Sumang Walk EC Punggol: Better ways to travel, better transportation
- To keep pace with new developments, there will be enhancements to public transport and improvements to the road and cycling networks. This will make getting around the town and to other parts of Singapore faster and easier, including:
- An intra-town cycling network
- Two new MRT connections by 2030, the Cross Island Line (CRL), a 50km MRT that will run from Changi to Jurong, will have an offshot that links Punggol to Pasir Ris and the 2km extension of the North-East Line (NEL), when done by 2025 to serve the new Punggol Downtown
- The Western LRT loop, which will begin operations in tandem with upcoming developments
- Improvements at Punggol Way and Punggol Road to provide smoother connections to Tampines Expressway (TPE)
- Improvements to Punggol Place
- A new road linking Punggol Central to TPE and KPE
- The Punggol Semi-Expressway, which will be the main route for inter- and intra-town travel in the longer term
New Sumang Walk EC Punggol: Creating an innovative work-learn-play environment
An expanded mix of activities will be introduced, adding vibrancy to the whole Punggol town and opening up more job opportunities for residents nearby. These activities will be located in the new Punggol Downtown, to be created by extending the existing Town Centre towards the waterfront.
Residents can expect:
- The Creative Cluster - a new district to house innovative industries, with green spaces, community spaces and excellent waterfront views to provide an attractive work and play environment
- A tertiary institution, which will form a Learning Corridor with connectivity to the Creative Cluster
Location of Hawker Centre in Punggol
Residents can also look forward to more recreational spaces and commercial amenities such as a new sports complex and a hawker centre, scheduled to be ready by 2017.
To ensure that Punggol does not lose its green features, more green parks and corridors will be integrated with the waterfront promenades. In addition, the old Punggol Road will be conserved as a heritage trail and transformed as a pedestrianised green corridor for joggers and cyclists.
Location of an Upcoming International School in Punggol
Residents will be able to enjoy the lush vegetation and wildlife in Coney Island Nature Park, which is set to be ready in 2015. It will be linked by a bridge to Punggol.
An Upcoming Food and Beverage Site at Punggol Jetty
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 in Sumang Walk Punggol 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.
CDL DEVELOPMENTS WON TOP BID FOR PUNGGOL EC GLS LAND SITE IN SUMANG WALK, ALL 17 BIDS SET NEW RECORD PRICE FOR EXECUTIVE CONDO
AMID a severe supply shortage in the executive condominium (EC) segment, an EC site in Sumang Walk in Punggol fetched a whopping 17 bids at a state tender that closed on Tuesday.
The top bid of S$509.37 million works out to a record to S$583 per square foot per plot ratio (psf ppr). It came from a joint venture between City Developments' fully owned subsidiary CDL Constellation and TID Residential.
TID Residential is a fully-owned unit of TID Pte Ltd, which in turn is a joint venture between Hong Leong Holdings and Mitsui Fudosan Co.
The top bid was 4.8 per cent higher than the second highest bid of of S$486 million or S$556.26 psf ppr from Qingjiang Realty (Residential); followed by a tie-up between Yanlord Singapore Residential and Soilbuild Group Holdings, which offered S$450 million for the site. Hoi Hup Realty teamed up with Sunway Developments for a S$446.6 million bid.
Sing Development, FEC Properties and Changi Properties joined forces, placing a bid of S$431.69 million.
Evia Real Estate (8) teamed up with Gamuda (Singapore) for a S$426.37 million bid.
Also taking part in the tender was MCC Land (Singapore), which bid S$413.7 million.
The lowest bid, from Ho Bee Land unit HB Lombard, was S$373.81 million, which works out to S$427.85 psf ppr.
All 17 bids surpassed the previous record price for EC land, which was set in July 2013, for the Lake Life site in Tao Ching Road/Yuan Ching Road near Jurong Lake.
The Sumang Walk site's tender was conducted by the Housing & Development Board, acting as land sales agent for the state.
A maximum of 820 residential units has been stipulated for the EC project on the Sumang Walk site. The 2.7 ha land parcel is adjacent to My Waterway @ Punggol.
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.
Analysts noted that the strong turnout and bids at Tuesday's tender are a reflection of the market being starved for new EC sites for some time. The Sumang Walk site was the only EC plot that was offered for sale in the Government Land Sales (GLS) Programme for the whole of last year.
JLL national director Ong Teck Hui commented that the top bid was "stunning", "way above market expectations". It was also 64 per cent higher than the top bid of S$355 psf ppr for the Anchorvale Lane site in August 2016, which was the last EC tender.
"The absence of EC land tender for one-and-a-half years, a severely undersupplied market with a paltry unsold stock of less than 1,000 EC units (including the upcoming 628-unit Rivercove Residences along Anchorvale Lane in Sengkang) and a rising private residential market are contributors to the bullish outlook for the EC market among bidders."
Last year, developers sold 4,011 EC units.
Mr Ong estimated CDL and TID's breakeven cost at close to S$1,000 psf - above recent new EC transactions in the area. "A few transactions at The Vales (in Sengkang) in recent months averaged S$860 psf. 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."
CDL is upbeat about prospects for the proposed project on the Sumang Walk site. Its group chief executive Sherman Kwek said: "We are confident of its success given its excellent location and desirable attributes. Punggol, slated to be Singapore's first Digital District, has an exciting future and we believe this will make the site very compelling to home buyers.
"It is also very close to LRT and MRT stations as well as a bus interchange, which is hard to come by for an EC project. Being right next to My Waterway@Punggol, the site also offers the opportunity to create a landmark waterfront residence with pleasant views."
CDL and TID joint venture will explore a project comprising 13 blocks of 10 to 17 storeys. "To maximise the scenic views, windows will be oriented towards Punggol Reservoir and My Waterway@Punggol. The sizable land area will also allow for generous landscaping," CDL said in a release.
This will be CDL's ninth EC project.
While Tuesday's tender set a record unit land rate for an EC site, the 17 bids were shy of the 19 bids received in 1997 for a Boon Lay Way site, which was developed into the Summerdale EC project, said Huttons Asia head of research, Lee Sze Teck.
For the first-half 2018 GLS Programme, three EC sites will be on offer: a plot in Canberra Link in the Sembawang area through the confirmed list, and two land parcels through the reserve list: one along Tampines Avenue 10 and the other along Anchorvale Crescent in the Sengkang area.
Source: Business Times
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