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4 Land sites sold for
New Upcoming Condo re-developments

En-blocs of
- Albracca
- Nanak Mansions
- Casa Meyfort and
- Amber Park

Short walking distance to Upcoming
Tanjong Katong MRT Station,
Thomson East-Coast Line

Please Register Here for
More Information and Updates!

PROJECT DETAILS

 
 

Four land parcel sites which are all walking distance to the upcoming Tanjong Katong MRT Station and Katong Park MRT Station, serving the Thomson East-Coast Line (TEL), located at the Eastern Region of Singapore, were sold for New and Upcoming Condo developments in the 3rd quarter of 2017, through collective sales.

 

The four land sites namely,
- Albracca,
- Nanak Mansions
- Casa Meyfort and
- Amber Park
are
 located along Meyer Road and are allocated to be developed into private residential condominiums.

 

Sustained Land submitted the top bid of $69.1 million for the site of Albracca, which translates to a land rate of about $1,409 per square foot per plot ratio, inclusive of development charges.


UOL submitted the top bid of S$201.08 million for the site of Nanak Mansions, which translates to a price of S$1,493 per square per plot ratio, inclusive of development charges.


Guocoland submitted the top bid of S$319.88 million for the site at Casa Meyfort, which translates to a price of 


CDL Developments submittted the top bid of S$906.7 million for the site of Amber Park, which has the largest land site among three, a more than 200,000 sqft. This translates to a price of S$1,515 per square foot per plot ratio, inclusive of development charges.


New Condo Launch near Tanjong Katong MRT Station- Connectivity
Residents of new and upcoming condos in Meyer Road can be served by the Tanjong Katong MRT Station (Thomson East-Coast Line) which will start operating in 2023. 
 As of now, the current nearest Datoka Circle Line MRT station is just a short drive away from new condos at Meyer Road. Set in the prime location, a 5 minutes’ drive will get future residents of new condos at Meyer Road to the downtown Financial District and Marina Bay New Downtown. New Condo at Meyer Road residents can also take an 6 minutes’ drive down to the Orchard Shopping Belt for a weekend shopping spree. The nearby East Coast Parkway (ECP), Kallang Paya Lebar Expressway (KPE) and the Pan Island Expressway (PIE) makes island wide traveling a breeze.

 

New Condo Launch at Tanjong Katong MRT Station- Amenities
In terms of accessing to dining, shopping and entertainment facilities, future residents of new condos at Meyer Road can take a 5 minutes’ drive down to Katong Shopping Centre, The Odeon Katong, Paramount Shopping Complex, Roxy Square, Parkway Parade, I12 Katong and Leisure Park Kallang where useful amenities such as food courts, supermarkets, retail outlets, F&B outlets and departmental stores are located which will bring everyday conveniences in terms of their daily shopping and dining needs.

New Condo Launch at Tanjong Katong MRT Station- Education
Local school such as Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High School (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Broadrick Secondary School and Tanjong Katong Secondary School are also located within 2 km away from new condos at Meyer Road.

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Project  New Condo at Meyer Road at former site of Amber Park
Developer  CDL Developments
Location  Meyer Road
District  15
Tenure  Freehold
Site Area  19,850 square metres/ 213,670 square feet
GFA:
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately 800 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 

Project  New Condo at Meyer Road at site of Casa Meyfort
Developer  Guocoland
Location  Meyer Road
District  15
Tenure  Freehold
Site Area  79,919 square metres/  85,249 square feet
GFA:  22,175 square metres/238,697 square feet
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 
Project  New Condo at Meyer Road at former site of Albracca
Developer  Sustained Land
Location  Meyer Road
District  15
Tenure  Freehold
Site Area  2,173 square metres/23,400 square feet
GFA:  4,564 square metres/49,130 square feet
Plot Ratio  2.1
Expected TOP:
Total Units  Approximately 203 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 
Project  New Condo at Meyer Road at former site of Nanak Mansions
Developer  UOL
Location  Meyer Road
District  15
Tenure  Freehold
Site Area  10,185 square metres/ 109,631 square feet
GFA:
Plot Ratio  1.4
Expected TOP:
Total Units  Approximately 203 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 

LOCATION and AMENITIES

FACILITIES SITE and FLOOR PLANS PLAN E-BROCHURE

The Facilities and Site Plan of New Condos in Meyer Road, which are short walking distance to Tanjong Katong MRT Staiton, are currently seeking approval from relevant authorities.

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THOMSON EAST COAST MRT LINE TO BE COMPLETED IN 2024

On August 15, 2014, the LTA announced that the southern end of the Thomson Line which serves the North South corridor will be extended eastwords to form the new TEL MRT line. In Singapore, the proximity to an MRT station helps to sell properties. The 13km East coast stretch will bring MRT travel to areas not currently served by the MRT system and increased connectivity to the East will be brought about by a 2.2km, 2-station extension of the Downtown Line (DTL) to join DTL To TEL. Here are some points about TEL:

  • Consists of the 22 station Thomson Line along the N-S corridor and the 9 station Eastern Region Line
  • Seamless connection from Woodlands in the North to the East Coast
  • Fully underground
  • Benefits of sscale, operational efficiency and common systems and trains
  • Total Length 43km
  • Total cost of S$24 billion, 6.8 billion for the Eastern Region Line
  • Total of 31 stations
  • Scale similar to N-S line and Downtown line
  • 7 private properties acquired
  • 7 interchanges 
  • Expected traffic - 500k passengers daily, increasing over time to 1mil daily
  • Alternative to E-W line for some commuters
  • Eastern end of the DL line to be linked up to TEL with the addition of 2 new stations
    • Downtown Line 3 extension (DTL3e) - 2.2km
    • Access to Changi Business Park and Expo areas
  • Travelling time saved (now served by MRT or MRT+Bus):
    • East coast to Orchard, 45mins instead of 75mins, saving 30mins
    • Woodlands to Marine parade, 1 hr, currently not possible by MRT, 80mins by bus
    • Marine parade to Shenton Way, 20mins instead of 40mins, 20mins saving
    • Marine parade to Jurong East, 50mins (via TEL, EWL) instead of 65mins, save 15mins
    • Upper East Coast to Ang Mo Kio, 45mins instead of 60min, save 15mins
  • New combined MRT and bus depot to be built next to the existing Changi Depot
    • Capacity for 220 trains from TEL, E-W and DTL lines and 550 buses
    • 36-hectares, multistorey
    • Combining and having several storeys saves 44 hectares
    • Existing depot to be demolished
  • East Region Line
    • 16km long
    • Serves new areas such as Siglap, Marine Parade, Upper East Coast and Bedok South
    • Construction of the Eastern Region Line to start in 2016.
    • First 7 stations - Tanjong Rhu to Bayshore - to be ready by 2023.
    • Last 2 stations of the Eastern Region Line - Bedok South and Sungei Bedok to Tanjong Rhu to be ready by 2024
    • Singapore's first underground bicycle parks
      • Marine Parade, Marine Terrace, Bayshore and Sungei Bedok Stations
      • More bicycle parts at all future stations

 Quick Milestones:

  • 2019 - 3 stations on the NEL line gets connected to the N-S Line at Woodlands MRT
  • 2020 - 6 new stations from Springleaf to Caldecott open
  • 2021 - 13 new stations from Mount Pleasant to Gardens by the Bay give direction access to the CBD, Marina Bay and Gardens By The Bay from the Woodlands
  • 2023 - 7 stations on the East Coast stretch open new access to the East Coast area currently not served by any MRT line
  • 2024 -  last 2 stations on the East Coast stretch connect to the DTL3e extenstion at Sungei Bedok and will relieve some pressure on the E-W line.

GUOCOLAND ACQUIRES CASA MEYFORT FOR S$319.88 MILLION

GuocoLand Limited, via its fully owned subsidiary First Meyer Development, has exercised the option to purchase Casa Meyfort condominium along Meyer Road through a collective sale for $319.88 million.

Including an estimated development charge of $57.2 million, the price works out to about $1,580 per sq ft per plot ratio, reported The Business Times.

In an SGX filing, GuocoLand revealed that the property’s purchase price was arrived at on a willing-buyer and willing-seller basis.

It added that the “acquisition and development of the property will be financed by internal resources and bank borrowings”.

With a maximum gross floor area of 238,697 sq ft, the freehold property sits on an 85,249 sq ft site that is zoned residential with a gross plot ratio of 2.8.

CDL WON TOP BID FOR FORMER CONDO SITE OF AMBER PARK, SHORT DISTANCE TO TANJONG KATONG MRT STATION

1) SINGAPORE - Amber Park, a 200-unit development in Amber Gardens, has been sold in Singapore's latest collective sale to two units linked to City Developments (CDL) for S$906.7 million.

This makes it a record amount garnered in a freehold collective sale in Singapore to date, said marketing agent JLL.

The winning bid also smashes the asking price of S$768 million.

The units involved in the sale were CDL's wholly-owned subsidiary Cityzens Development, and joint-venture partner Hong Realty. Hong Realty is the private real estate arm of the Hong Leong Group, and holds a 20 per cent stake in the project.

Under the 2014 Master Plan, the 213,670 sq ft Amber Park site is zoned for residential use, with a gross plot ratio of 2.8. It may be redeveloped to accommodate a high-rise apartment development of around 24 to 26 storeys, depending on the technical height controls imposed by the relevant authorities.

Mr Tan Hong Boon, regional director at JLL, said in a statement on Wednesday (Oct 4) that the tender was "keenly contested" and attracted eight bids.

The successful sale price of S$906.7 million reflects a land rate of about S$1,515 per sq ft per plot ratio, based on the allowable gross plot ratio of 2.8. Development charges are not payable for the proposed redevelopment.

This is the fourth time that the property was offered for sale collectively.

"There are not many sites of similar size that are available for redevelopment in the Amber Road location, as most of the larger projects have been sold en bloc and redeveloped over the years. Amber Park could possibly be one of the last collective sale sites with a land area above 200,000 sqft in this precinct," noted Mr Tan.

"At this sale price, the owners would expect to receive gross sale proceeds of between S$4.3 million and S$8.3 million each."

Separately, CDL said it is very familiar with the District 15 locale, having developed the existing 200-unit Amber Park itself, which was completed in 1986.

CDL and Hong Realty plan to redevelop the site into a luxury condominium development comprising four 25-storey blocks with close to 800 units and a basement carpark, subject to approval. Most apartments will have a North-South facing orientation, with many units commanding sea views.

CDL chief executive-designate Sherman Kwek noted that the Amber Park tender win marks one of the group's "most significant investment deals in the Singapore residential market in recent years"

"CDL was the original developer for Amber Park in the 1980s and we are honoured to be able to redevelop the site into yet another iconic landmark. In addition to its strong locational attributes, a distinct advantage of this site is its freehold status, something that is increasingly rare in Singapore," said Mr Kwek.

Source: Straits Times 4th October 2017

UOL GROUP WON TOP BID FOR LAND PARCEL AT NANAK MANSIONS ALONG MEYER ROAD THROUGH COLLECTIVE SALES

2) AN associate company of UOL Group is set to purchase en bloc freehold property Nanak Mansions for S$201.08 million after putting in the winning bid in a tender.

Nanak Mansions, located at 92-128 Meyer Road, occupies an area of about 10,185 square metres. The freehold site, with a gross plot ratio of 1.4 based on 2014 Master Plan, is earmarked for residential development.

The bid from UOL's associate, Secure Venture Development (No.1) Pte Ltd, was accepted on Thursday by all the subsidiary proprietors of the units in the development.

Secure Venture Development (No. 1) will pay up 10 per cent of the consideration, including the S$1 million tender fee paid on bid submission, within seven business days from the acceptance of the offer. The other 90 per cent of the purchase consideration will be paid up on legal completion of the deal.

Secure Venture Development (No.1) is a 50:50 joint-venture (JV) company between UOL Venture Investments Pte Ltd and Kheng Leong Co (Pte) Ltd.

The JV company will re-develop the freehold site acquired and also acquire a private road of about 910 square metres next to the property, if the subsidiary proprietors of Nanak Mansions and their associates exercise a put option.

Kheng Leong Co is considered an associate of several members of the Wee family behind UOL, including UOL's chairman Wee Cho Yaw, controlling shareholder Wee Ee Cheong, and directors and substantial shareholders Wee Ee-chao and Wee Ee Lim.

LAND PARCEL OF FORMER SITE OF ALBRACCA CONDO ALONG MEYER ROAD SOLD THROUGH COLLECTIVE SALES

3) SINGAPORE — The Albracca, a 10-storey residential development along Meyer Road, has been successfully sold in its first attempt at a collective sale to Sustained Land for S$69.1 million, sole marketing agent JLL said on Thursday (July 20).

The launch last month of the tender exercise for the 11-unit strata-titled development located at a prominent corner of Meyer Road and Meyer Place came shortly after four collective sales were successfully concluded in May, surpassing the total number of en bloc deals completed in 2016.

“The Albracca’s tender response was strong with over a dozen bids received from developers of all sizes – from large to boutique developers, contractors and a fund manager,” said Mr Karamjit Singh, Senior Consultant at JLL.

“Clearly, there is an increasing convergence of views among developers that the down cycle, which lasted over four years, has turned a corner, and that it’s time to be back. Sentiments in the residential market have also been buoyed by the strength of the stock market this year, which tends to run ahead of property markets. As for en bloc sellers, this also comes as a relief as many have been waiting for such an opportunity for years,” he added.

The price of S$69.1 million, which topped the owners’ guide price from S$62 million to S$65 million, works out to about S$1,409 per sq ft per plot ratio inclusive of development charges, JLL said.

The Meyer Road area has always appealed to well-heeled and high-income homebuyers as it is considered as arguably the most prime location outside the Core Central Region, with a strong following among both local and expatriate communities, JLL said.

“The appeal of The Albracca was strong with multiple boxes ticked in its favour. It has an MRT station being built on its doorstep. The high-rise development that may be built on site should be able to enjoy unblocked views across Katong Park and the sea. It is located in a much sought-after Meyer Road precinct, which is close to the CBD, amenities and the airport,” said Mr Singh.

Under the 2014 Master Plan, the 23,400 sq ft site is zoned ‘Residential’ with an allowable gross plot ratio of 2.1. The Albracca may be redeveloped to accommodate a high-rise apartment development of about 18 to 24 storeys, depending on the technical height controls imposed by some government departments. Subject to design and approval from the Urban Redevelopment Authority (URA), a developer may potentially configure the allowable gross floor area (GFA) of 49,130 sq ft into a maximum of 65 apartments with an average size of about 750 sq ft, JLL said.

Source: Today On Line

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