Affinity at Serangoon @ Serangoon North Estate and Serangoon Gardens (Formerly Serangoon Ville, Enbloc)
Affinity at Serangoon, an upcoming residential area at Serangoon North, located in the northeastern part of Singapore was successfully acquired by Oxley Holdings for S$499 million. (See: Former HUDC estate Serangoon Ville sold en bloc for $499 million) The old Serangoon Ville enbloc is a 244 unit development features three blocks of 13-storey and four blocks of four-storey walk-up apartments.
The Oxley-led CONSORTIUM includes Oxley that takes up a 40 percent stake in the consortium; the balance is equally split among Lian Beng Group, Unique Invesco Pte Ltd and Apricot Capital. Unique Invesco is a 37.5 percent indirect associate of KSH Holdings; Apricot is the private investment firm of Super Group’s Teo family. The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.
Information on Enbloc of Serangoon Ville that will transform into Affinity at Serangoon.
In July 25th, 2017, the tender was closed and a total of 5 competitive bids were received with prices well above the owners’ asking price. More than 80 percent of the owners agreed for an en bloc sale, which resulted in the property to put up for sale. After the sale is completed successfully, and conditions met, each owner will receive about S$2 million for their property. As usual, before the project launch announcement, it has to undergo some pending government paperwork and clearance from the authorities for a full go-ahead. As of now, Oxley Holdings has officially announced the name to be Affinity @ Serangoon. This new Condo launch in Singapore is expected to build great hype and excitement since it is located in a premium matured estate.
Since the CONSORTIUM leading this project is a major player in the industry, there is hardly an occasion when an obstacle has stopped or delayed a project as massive as this. Affinity @ Serangoon will be built with the family in mind and will consist of approximately 1052 units, with strata landed and 5 commercial shops. Featuring units with a variety of 1br to family-sized units, most of the units will be north-south facing and enjoy convenience and amenities in Serangoon North mature estate.
According to sources, this new development of the Affinity @ Serangoon condo is calculated to feature a land rate of $835 per sq ft per plot ratio. Oxley has been famous for developing luxurious condos and units for residential purposes and it is highly likely that this project will also be fully developed for a luxurious unit, resembling most of Oxley’s significant projects.
Short History of Serangoon North Estate where Affinity at Serangoon is located.
Serangoon Gardens was formerly a residential estate for the British (and some Australian and New Zealand) soldiers and airmen, where some of them were based in the nearby RAF (Royal Air Force) Chia Keng Camp, until the early seventies.
The name Serangoon is likely to be derived from burong ranggoon, referring to a species of black and white stork that lives around Sungei Serangoon (formerly called Rangoon River). Satu, or one in Malay, was added to the name, thus becoming Saranggoon. This name was used for a long period of time before it eventually evolved to Serangoon. During the Japanese Occupation, large plots of flower farms were cultivated in this region, leading to the naming of the estate as Serangoon Gardens.
URA Masterplan For Developing Serangoon Where Affinity at Serangoon is
The site is within URA’s Serangoon Planning area. Comparative developments in the area include Kensington Park, Affinity @ Serangoon by Oxley Holdings. Slightly further to the East will be Terrasse. There has been a drought for new condominium launches in the estate and so Affinity @ Serangoon will together with Keppel and Wingtai The Garden Residences will rejuvenate and revitalise the entire area and neighbourhood, the value of the estate will be raised and tremendous amounts of activities and vitality will be injected into the estate.
Important Breakdown and Preview of Affinity at Serangoon
Let’s look at the compelling reasons to select Affinity @ Serangoon as your investment property and choice. Our developer team has a breakdown and you may refer to Affinity at Serangoon Prices here.
- Good Roads and Transport Connectivity
- Nearby Good Local and International School
- Centralized Location and Minutes to Town, Harbourfront, Central Business District and also South Marina Bay
- Near to Amenities such as NEX and Food Haunts such as Chomp Chomp Food Centre.
- Strong Tenant Base with expected expatriate demand from Lycee Francais de Singapour
- Strong Tenant Base from Surrounding Business Parks such as Amk Industrial Park and Serangoon North Industrial Estate
- Great for Families looking for a home near good schools and strong amenities
- Luxurious Living and Fittings
Hype and Launch of Affinity at Serangoon: What’s Next?
Since the official launch of Development name, Affinity @ Serangoon was just announced on 15th May 2018, we expect a hype build up as we continue to provide the latest news and updates. More importantly, the E-brochures, floor plans, and site plan will be crucial to determining the value of this Condominium at Serangoon North.
It is important to note that former HUDC estates, which tend to be huge under-built swathes of land, have featured strongly in this year’s list of awarded collective sales, with successful developers hoping to intensify the number of units by three to five times the existing capacity. This includes estates like Affinity @ Serangoon, and Riverfront Residence (formerly Rio Casa Enbloc).
If you would like to follow up on the updates of Affinity @ Serangoon, we highly recommend that you refer to the official site source here: https://affinityatserangoonville.sg. Early preview usually means you get access to early information that can help with decision making on the purchase of Condominiums in Singapore. Subsequently, you should base your decision on the floor plan layout and sizes – PSFs are important but the layout is equally important, so be sure to make informed decisions and do your due diligence before any purchase!
According to the Urban Redevelopment Authority of Singapore, only 377 private homes were sold and transacted (excluding executive condominiums) in February. Analysts indicate that the drop in 28% drop in sales, from the 524 units sold in January, was attributed to the Chinese New Year festivities where developers held back their launches. The lack of inventory and supply for real estate private homes thus resulted in a drop in the hype and build up for potential purchase.
Ms Tan Siew May, a potential home-owner and buyer in the first quarter of 2018, spoke out to us that she is “waiting for an upcoming launch Margaret Ville in Queenstown before looking at other areas”. It seems that many buyers are waiting out this dull season before proceeding to dive into the property market, especially when most showrooms are currently unavailable.
In fact, there were only two new launches.
- Parksuites, a 119-unit project by Far East Organization in Holland Grove, soft-launched 50 units and sold three at a median price of S$2,215 psf.
- Nim Collection, a 99-year leasehold landed development, launched 26 units and sold three units as well, at a median price of S$1,661 psf.
Making a comparison with past year, Ong Teck Hui, national director of research & consultancy at JLL, said Feb 2018’s figures were actually comparable to those in January 2017 – the Chinese New Year month last year. with some 108 units launched and 382 units sold then.
“So the low-key performance in February is not indicative of a market slowdown,” he added. “Notwithstanding the festive period in February and the dearth of new launches, buyers were still house-hunting among previously launched projects, resulting in sales from these accounting for 98.4 per cent of total new private home sales during the month. This is indicative of ongoing interest among home buyers.”
Developers are not sitting back this period either. It was noted that the average psf for previously launched projects have rose, and they are expected to continue to time their launches to benefit from a further recovery in residential prices.
For example, median prices at Kingsford Waterbay at in Upper Serangoon have increased from S$1,111 psf in March 2015 to S$1,349 psf in Feb 2018. Grandeur Park Residences near Tanah Merah MRT has also seen its median price rise from S$1,406 psf at launch in March 2017 to S$1,487 psf in Feb 2018, as it reaches its 90-per-cent sold mark.
Year-on-year, sales suffered a 61.5% drop from the 979 units sold in Feb 2017. This is mainly due to the lack of ECs as there will only be two EC launches combined in both 2018 and 2019.
This also means the depleted supply was part of the main cause of the drastic fall in sales.
It is noteworthy to observe that the recent EC – Hundred Palms Residences that is situated at Yio Chu Kang Road, faced a high demand as the 531 units were sold out just under 7 hours last year. Excluding Rivercove Residences which is yet to be launched, there were only 212 unsold EC units in projects under marketing. This is only a small fraction of the 2,514 unsold EC units being marketed one year ago.
Analysts expect home buyers and upgraders to move quickly to purchase existing stocks of available EC units especially before prices start to increase, as anticipated to after the government sold the Sumang Walk EC site to a City Developments joint venture at a record land price of S$583 psf per plot ratio, which could translate to a break-even cost of close to $1,000 psf for its completed units.
If the market sentiment continues to remain sanguine through the year, the primary market sales could range between 11,000 and 14,000 private housing units in 2018.
This news update is written and submitted by Gary Lee, owner of margaretville.sg. Gary is an expert and experienced realtor who knows the Singapore market in and out. He specializes in HDB and Condominiums investing.
Jui Residences Condo is the latest development by SDB Singapore, Selangor Dredging Berhad (SDB). Located at 1177 Serangoon Road, it is situated in an established HDB estate with plenty of new developments, including minutes drive to Paya Lebar Hub, and a majestic water view of Sungei Kallang.
The condo land parcel at Jui Residences received a top offer of S$47m for the 31,705 sqft land plot of former building – National Aerated Water Company. SDB will work with Singapore in the conversation of nearby heritage buildings, and this residential estate will be one of the prime city fringe development.
The project is officially announced at the end of 2017 with indicative prices expected to be released after CNY 2018. For starters, one may refer to the following Serangoon Masterplan by URA to get an idea of the estate Jui Residences Condo is developed in.
The building will be worked by Selangar Dredging Berhad to be transformed in a “unique and lively commercial area”, said Mr The Lip Kim, the managing director of SDB, and it lies next to a park connector. There will not be a fence along the main road and river, meaning that it will welcomed the public for a close up look and personal with this heritage gem.
Source: Jui Residences Condo Project Details
Jui Residences Condo – Own a piece of Heritage
National Aerated Water Company is a Heritage Site that is a landmark with a rich history and is part of the whole DNA of this district. Kallang used to be industrial, and full of brickmaking kilns and sawmills. The now-famous St James Power Station was also in the national monument industrial heritage along with Kallang Airport and also Fort Factory.
With the commercial development in the area, here’s what we can expect Jui Residences Condo to entail:
The price psf will only be released after CNY 2018. Do register early with the Jui Residences Official Developer Team to keep updated with the latest news. For now, we are certain there will be at least 1 to family bedroom options, with a total of 1177 units. The estimated psf will be aligned with surrounding Condominiums to keep it competitive by SDB.
Here are the top 6 reasons why we expect the prices of Jui Residences to be competitive (and investment worthy!):
- Own a piece of Heritage on this development
- Near Prestigious Schools and Education Hub
- Well connected via Expressway at Doorstep and Serangoon Road
- Plenty of Amenities in Mature Estate
- Freehold Property
- Proven Track Record and Quality Fittings by Selangor Dredging Berhad
Jui Residences Condo – Site Location Details
Location Map and Surrounding Amenities
Jui Residences Condo will be beside Potong Pasir MRT. Residents will find transportation convenient and minutes to shopping malls like The Venue Shoppes, as well as local wet market Boon Keng Market. Here are some amenities that will be situated closeby: Kallang Community Club, Potong Pasir Town and Market, and The Poiz Centre.
Education wise, Potong Pasir & Serangoon is known for the variety and strength of the education facilities and options. There is Bendemeer Primary and Secondary School, St Andrew’s Primary and Secondary, as well as St Andrew Junior College (SAJC). This covers a wide array of education options for a child from teenage to adult.
Register for Early Preview for Jui Residences Condo Singapore
URA’s CEO Mr Lim Eng Hwee said: “This building is not only historically significant as a familiar landmark along the Kallang River, it also holds fond memories for Singaporeans for the popular soft drinks it produced from the 1950s to 1990s”
To find out more, do sign up for the Jui Residences Show Flat.
Harbour View Gardens is a 99 years condo situated along Pasir Panjang Road. It will have direct connectivity to West Coast Highway and within walking distance to Haw Par Villa. Previously, it has gone through a series of tender before being successfully tendered by Roxy-Pacific at a bid of S$33.25m.
The site is within URA’s Queenstown Planning area. Comparative developments in the area includes The Orient, The Verandah Residences, One Residences. Nearby developments includes Icon@Pasir Panjang, Viva Vista, and Parc Imperial.
[See more Harbour View Gardens Project Details]
This leads to the top 6 reasons why this condo Enbloc will be worth a look:
Reasons to invest in Harbour View Gardens
1. Excellent Connectivity via West Coast Highway and AYE
Having a strong transport connectivity in terms of public road networks and MRT stations distance, residents living in Harbour View Gardens will enjoy seamless connectivity to the city and business nodes.
This means it offers the convenience in a congested city like Singapore, and going to work will be a breeze.
2. Walk to Haw Par Villa MRT Station
The close proximity to Haw Par Villa (and even Pasir Panjang MRT Station) means you can easily walk and get access to public transport.
From Haw Par Villa MRT, you are:
- 4 Stops to Harbour Front MRT
- 6 Stops to Jurong Lake District
- 5 Stops away to Sentosa Island
- 2 Stops Away to MapleTree Business City
- 10 Stops to Orchard
- 6 Stops to CDB/Marina
Forget driving when you are so close to the main attractions and CBD of Singapore.
3. Near Prestigious Schools and Education Hub such as NUS/NUH
If you are looking to get an ideal location for your children, Harbour View Gardens Singapore could be perfect for you.
NUHS as an Academic Health System will improve the health of our community through better and more cost-effective care, nurturing the next generation of healthcare professionals, world class research and empowering people to take ownership of their health.
The prestigious schools nearby provides a merit education journey for your children, so you don’t have to go far or worry about long distance commuting to schools.
4. Centralized Location and Minutes to Orchard Road, Vivocity, CBD and Marina Bay.
If you are one for shopping and visiting Singapore scenic attractions, you are in for a treat.
Harbour View Gardens is situated along Pasir Panjang Road and is one of the centralized location within Singapore. With such an location, you can travel to metro shopping areas with ease.
5. Strong Tenant Base from Surrounding Business Parks
Harbour View Gardens is near important hubs that is part of Singapore’s URA Masterplan for business sectors. They include One-North, HarbourFront Precinct, Alexandra Precinct, Fusionopolis, and Holland Village.
One of the noteworthy hubs, the Mapletree Business City, is a Grade-A integrated business Hub, modernised and revitalised the precinct. The total GFA Gross Floor Area is almost two million sqft.
- MBC will have the ARC aka Alexandra Retail Centre, it is a 3-storey shopping and convenience mall that will add 89,000sqft of retail space and 75 retail shops made up of a mix of restaurants, café, supermarket and banking facilities.
- The next and final stage of rejuvenation will see Mapletree transform The Comtech into the second phase of MBC, MBC II. MBC II will complement the existing state-of-the-art business facilities at MBC with new elements such as a sunk-in amphitheatre that rest in the middle of a lush green landscape, blending harmoniously with the nature parks located in the area. It will also feature innovative and adaptive space solutions, which will be supported by retail and F&B options. MBC II will also be home to Singapore’s tallest business park at 30 storeys. The completion of MBC II (expected in 2016) will reinforce MBC as a first-rate business park concept, further underpinning the development’s place as the centrepiece of Alexandra Precinct.
6. Freehold land in land-sparse Singapore
With Singapore getting more cramped and land-sparse, it is rare to find freehold units. Most offer 30 years now which is not ideal for both investing and living.
Harbour View Gardens will be a rare find amidst our real estate landscape, and be sure to keep track of this development to find out how it progresses.
If you are looking for renovation and home decoration for your new unit, feel free to contact us through the developer here: https://harbourviewgardens.com.sg/contact-us
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