Month: February 2025

CDL posts 10.7% rise in 4Q earnings to $2.2 bil; Ordinaries up 14.3% to $2.3 bil

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. With its prime location as a global business hub and strong economic fundamentals, Singapore attracts a constant demand for real estate. As such, property prices in the country have demonstrated a consistent upward trend, particularly in highly sought-after areas where condos are located. For investors who time their market entry wisely and hold onto their properties for an extended period, the potential for substantial capital gains is evident. Keep an eye out for New Condo Launches to maximize your investment opportunities.

According to a second statement released by CDL’s executive chairman Kwek Leng Beng, the previous “serious lapses” in corporate governance at City Developments have been put to a stop. This follows a court hearing on Feb 26, where the two new directors who were “irregularly and hastily appointed” on Feb 7 have agreed not to exercise any powers as directors until further notice from the court.

The two new directors in reference are Jennifer Duong Young and Wong Su Yen, who were appointed as independent non-executive directors through directors’ resolutions. The statement also reveals that Kwek’s son, Sherman Kwek, along with Philip Lee, Wong Ai Ai and the remaining directors acting in concert with them, have agreed not to take any further actions regarding their attempted changes to the board committees and management of certain CDL’s subsidiaries until further notice from the court.

The statement also mentions the suspension of the “irregularly constituted” nominating and remuneration committee from taking further action. According to Kwek, this means that CDL’s board committees and the management of relevant subsidiaries are now safe from further attempts to destabilise, dismantle, and reconstitute them. He adds that this will allow the board and management to function normally and without unwarranted interference, which is crucial for maintaining investor confidence and protecting the long-term interests of shareholders.

On the morning of Feb 26, CDL caused a stir in the markets by calling for a trading halt and cancelling its FY2024 results briefing, which was scheduled later that day. In a statement released at 1.51pm, the company explained that this was due to a disagreement within the board regarding the composition and constitution of the board and board committees. However, the business operations remain fully functional, and Sherman Kwek remains the group’s CEO until there is a board resolution to change company leadership.

In his first press statement, Kwek accused his son, Lee, Wong, and a group of directors of trying to consolidate control of the board and the group. He also mentioned filing court papers on Feb 25 to “set things right,” which he believed was necessary to deal with the “attempted coup.” He stated that they would continue to explore all legal options to defend and protect the interests of CDL and its shareholders. Kwek also mentioned that if Sherman is removed as CEO, the current COO Kwek EIk Sheng will serve as the interim CEO.

CDL’s shares last traded at $5.12 before the trading halt on Feb 26.…

Colliers has been expanding its occupier services team in Asia Pacific in recent months, with several strategic appointments to strengthen its expertise and capabilities in this area.SINGAPORE (Feb 25): Colliers is expanding its occupier services team across Asia Pacific with two new appointments, according to a statement released on Monday (Feb 25).Leanne Chin has been appointed as director of regional tenant representation for Asia Pacific. She will be based in Colliers’ Singapore office. Additionally, Colliers has appointed Ali Porter as director of enterprise clients for Hong Kong. Porter will move to Hong Kong from London, where he worked for Colliers’ Europe, Middle East and Africa business for the past four years.Under his new appointment, Porter will work with occupiers to align their real estate portfolio with their corporate strategies across Asia Pacific. This is in line with Colliers’ focus on providing integrated and comprehensive services for its clients in the region.Chin brings with her more than 15 years of experience in the real estate industry, with a proven track record in tenant representation. In her new role at Colliers, she will be responsible for driving the firm’s tenant representation business across Asia Pacific, helping companies secure the best real estate solutions for their occupancy needs.Porter, who has been with Colliers for the past 11 years, will be responsible for working with enterprise clients in Hong Kong to develop a holistic real estate strategy that supports their business objectives. He brings with him a wealth of experience in advising global clients on their real estate needs, and is well-equipped to understand and navigate the complexities of the Asia Pacific market.Both Porter and Chin will be instrumental in driving Colliers’ growth in the occupier services space, and strengthening the firm’s existing capabilities in providing value-added solutions to clients in Asia Pacific.”The Asia Pacific office market is expected to see continued growth, with occupier demand driven by improving economic fundamentals, business expansion and relocation, as well as the overall positive momentum in the region,” says Terence Tang, managing director, Asia, of Colliers International.”We are committed to taking advantage of these opportunities by forging strategic alliances and building capabilities in our occupier services business. Both Leanne and Ali bring with them a wealth of experience and knowledge of their respective markets, and we are confident that they will play key roles in growing our occupier services business in the region,” he adds.

One crucial factor to consider when investing in condos in Singapore is the country’s property cooling measures implemented by the government. Over the years, the Singaporean government has implemented various measures to prevent speculative buying and maintain a sustainable real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign investors and those buying multiple properties. While these measures may initially affect the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer environment for investments. Additionally, with a strong focus on Singapore Projects, the country’s real estate market continues to be an attractive option for both local and foreign investors.…

Investing in real estate is an important decision, and one of the key aspects to consider is location. This is especially crucial in Singapore, where the right location can make all the difference. Condos that are strategically positioned in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs tend to hold higher value over time. For instance, prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently seen an increase in property values. Families looking to invest in real estate also prioritize condos in these areas due to their accessibility to good schools and educational institutions, making them even more desirable and attractive for investment. As such, investing in properties in these prime locations, such as the ones offered by Singapore Projects, can be a smart and lucrative decision for any investor.

JLL, the sole marketing agent, has announced that Ching Shine Industrial Building is now open for collective sale by tender with a minimum price of $113 million. The freehold building, which boasts a 100m frontage along Shaw Road, is comprised of 52 strata units. It sits on a 49,308 sq ft plot of land and has a gross floor area of approximately 137,341 sq ft.

Built in the early 1980s, the property is zoned as “Business 1” under the URA Master Plan 2019, with a gross plot ratio of 2.5. Close to 80% of the owners have given their consent for the collective sale at the minimum price of $113 million, equivalent to a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79.

According to JLL, the site may potentially be converted into a food factory, subject to URA approval. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory and the Singapore Food Agency has given their in-principle non-objection to the proposed food factory.

The freehold asset also presents an attractive investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence, adds JLL.

Nicholas Ng, senior director of capital markets at JLL Singapore, believes that the prime location of the property and the absence of additional buyer’s stamp duty makes it an appealing option for developers as well. The property is easily accessible via major expressways such as the PIE, CTE, and KPE, and is within walking distance from Tai Seng MRT Station on the Circle Line. It is situated in the bustling Tai Seng Industrial estate, surrounded by food factories such as Breadtalk IHQ, Sakae Building, and Food Empire Building, as well as amenities like Grantral Mall @ Macpherson and 18 Tai Seng.

In November 2023, Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, was sold en bloc for $81.18 million, 17% above its $70 million guide price. Ng believes that this transaction is a testament to the strong demand for such assets in the area. He anticipates a similarly competitive response for Ching Shine Industrial Building.

The tender for Ching Shine Industrial Building will close on April 3 at 3pm.…

City Developments Limited (CDL) has released a statement in response to the trading halt it called for earlier this morning. According to the statement, the halt was due to a disagreement within the board regarding the composition and constitution of the board and the board committees.

Despite the temporary suspension, the company’s business operations remain fully functional and unaffected, as stated in their February 26 press release. Sherman Kwek will continue to serve as the group CEO until there is a board resolution to change company leadership.

The matter is currently under review, and the company will provide updates in line with the Singapore Exchange (SGX) listing rules. In a later statement, Sherman Kwek expressed disappointment over the chairman and a minority of the board’s actions regarding the board size and makeup disagreement.

The CEO reiterated that the focus of the majority of the board, with guidance and support from the company and independent legal counsel, has always been to improve governance. The trading halt earlier today was taken despite the legal action not being authorized by the majority of the board.

Kwek emphasized that the issue was never about removing the esteemed chairman, and the steps taken to strengthen the board were solely to ensure the highest standards of governance, for which CDL is known. Since the matter is now being adjudicated in court, the company will not comment on the merits of the case and will provide updates if there are any significant developments.

Investing in a condo in Singapore has become a highly sought-after option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a wealth of opportunities, with condos being particularly attractive due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, important factors to consider, and steps to take when looking to invest in a condo in Singapore.

CDL also announced its results for FY2020, ended December 31, 2020, on February 26 before the market opened. The company later cancelled its 10 am results briefing. CDL also made an offer to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share.

Shares in CDL last traded at $5.12. This article was originally published on .…

PropNex, Singapore’s largest real estate agency, has announced a decline in earnings of 14.9% year-on-year to $21.9 million for the second half of FY2024 ended on December 31, 2024. This brings the full-year earnings to $40.9 million, representing a 14.4% drop compared to the previous FY2023.

The decrease in revenue of 6.6% for FY2024 as compared to FY2023 can be attributed to the relatively subdued property market. However, in celebration of its 25th anniversary, PropNex plans to pay a special dividend of 2.5 cents per share on top of a final dividend of 3 cents. This will bring the total dividend payout for FY2024 to a record of 7.75 cents, with a payout ratio of 140.1% and a yield of 8.2%.

Despite the lower earnings for the year, PropNex has observed an increase in activity in the last quarter of 2024, driven by a surge in new private home units which the agency helped to sell. This is also reflected in DBS’s recent upgrade of PropNex and APAC Realty to “buy”, citing a strong pipeline of new launches in 2025.

According to PropNex, the financial effects of these sales will only be reflected in its current 1HFY2025 numbers after three to four months, indicating a significant pick-up in the market. The company is optimistic about a strong performance in FY2025, barring any unforeseen events, given the positive outlook for the property market.

The strong demand for new homes is supported by an estimated 13,000 new unit launches (including ECs), almost double the supply in 2024. The private resale market is expected to remain active with transaction volumes ranging between 14,000 and 15,000 units, driven by a persistent price gap between new and resale properties, a preference for larger, move-in-ready homes, and limited new supply completions.

In the HDB resale market, PropNex predicts a price growth of 5% to 7% and transaction volumes between 29,000 and 30,000 units. The agency believes that the limited supply of five-year minimum occupation period flats and sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families will continue to support this segment.

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Investing in a condominium, or condo, in Singapore is a wise decision for investors, both local and foreign. This country has become a prime location for real estate investments due to its strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore has seen a surge in popularity, with condos being a top choice for investors due to their convenience, amenities, and potential for high returns. In this article, we will explore the benefits, factors to consider, and steps to take when investing in a condo in Singapore.

PropNex has observed strong market interest in newly-launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA. The agency is optimistic about a positive demand for developers’ sales in 2025, with an attractive line-up of projects. A positive economic outlook and lower mortgage rates may also boost market confidence, encouraging opportunities for both homebuyers and investors.…

A 999-year leasehold shophouse with an attic is now available for sale at 209 Jalan Besar. The property, marketed by Gracelynn Zhu of PropNex Shophouse Elites, is being sold through private treaty for “below $20 million”.

Located in a prime location, the corner two-storey shophouse boasts a total area of approximately 5,502 sq ft and is zoned for commercial use. The first floor is approved for restaurant use, as well as a portion of the second floor. With a $20 million price tag, the property’s price per square foot (psf) works out to be $3,635 on the floor area.

According to the map, the property is situated in the Desker Road Conservation Area in District 8, in close proximity to Little India. It is also within walking distance to the Jalan Besar MRT Station on the Downtown Line.

The shophouse is currently undergoing asset enhancement initiatives (AEI), which includes the installation of micro piles that extend 30m to enhance the property’s structural foundations. The AEI is slated to be completed this year.

Investing in a Singapore Condo offers numerous benefits, one of which is the opportunity to leverage the property’s value for further investments. This means that investors can use their condo as collateral to obtain financing for new investments, allowing them to expand their real estate portfolio. While this can lead to higher returns, it’s important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. By utilizing this strategy, investors can potentially see a significant increase in their returns, making condo investment a wise choice for those looking to grow their wealth.

In the past year, the shophouse market has remained relatively quiet with 84 caveated transactions recorded by Huttons. Despite this, the market is expected to pick up in 2024 with the revitalisation of Smith Street by the Chinatown Business Association, and new and traditional lifestyle concepts being introduced.…

The Asia Pacific (APAC) hotel sector is set to experience strong investment activity in 2025, as per the latest findings from a survey conducted by CBRE. The 2025 Asia Pacific Hotel Investor Intentions Survey, conducted in November and December last year, revealed that over 72% of hotel investors plan to purchase more hotel assets this year.

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One of the most crucial elements in investing in a condo is securing appropriate financing. This is particularly crucial in Singapore, as there are a variety of mortgage plans available for potential buyers. However, it is vital to have a clear understanding of the Total Debt Servicing Ratio (TDSR) framework before making any financial decisions. This framework sets limits on the loan amount that an individual can obtain based on their income and existing debt commitments. To navigate this complex process, it is recommended to seek guidance from financial experts or mortgage brokers. Familiarizing oneself with the TDSR and seeking professional advice can enable investors to make well-informed decisions about their financing options, thus avoiding the pitfalls of over-leveraging their condo investment.

Out of the respondents, 45% expressed their intention to increase their purchase volume by more than 10% this year. According to Steve Carroll, head of hotels, capital markets, Asia Pacific at CBRE, after performing well over the past 18 months, investors expect hotel and living assets in APAC to have the most positive pricing expectations in 2025.

The survey found that the rebound in tourist arrivals, especially in places such as Japan, Singapore, and Australia, is driving the healthy buying intentions. This has led to an increase in hotel room rates, ensuring continued income growth for hotel operators in the region.

Furthermore, investors are encouraged by the limited hotel supply in APAC. According to CBRE, the hotel supply pipeline in APAC is projected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR recorded between 2013 and 2023.

The breakdown of investment intentions by investor type showed REITs having the highest net buying intentions, at 22%. This is a significant contrast from the -13% recorded in last year’s survey. The report states that after several years of negative net investment intentions, REITs are now planning to buy more assets in 2025.

Institutional investors and property funds follow closely behind, with net buying intentions of 12% and 10% respectively. CBRE noted that private equity and real estate funds were more active in 2024, and the momentum is expected to continue in 2025.

However, private investors and high-net-worth individuals are likely to drive fewer hotel acquisitions this year. These buyers, who were the most active in the past two years, are expected to be more involved in selling activities this year to capitalize on the improving market sentiment after acquiring assets at lower prices.

The survey found that respondents favored a value-add strategy for investments in 2025. In select markets, assets have been priced in a way that investors believe they can achieve value-add returns by acquiring assets with core risk profiles. This has led to the upscale and upper midscale hotel categories being ranked as the most attractive asset types for investment, surpassing the upper upscale category that was at the top in last year’s survey.

The report explains that this shift is due to the operational flexibility and greater potential for value-added opportunities offered by the upscale and upper midscale segments. These opportunities include redevelopment, adaptive reuse, and rebranding of existing properties, which provide a more cost-effective alternative to new developments. Additionally, these segments typically have a leaner labor pool compared to higher-tier assets, reducing labor and cost pressures.

In line with this, investors are also turning to long-stay or hybrid hospitality models, with a growing appetite for converting assets into co-living spaces. This trend is expected to gain traction in markets such as Japan, Hong Kong, and Singapore, where there is a demand for affordable accommodation in relatively inflexible rental markets.

Another emerging trend is an increased preference for assets with vacant possession at the time of acquisition, allowing for more flexibility in terms of operator selection and refurbishment works. Limited-service hotels have also seen a rise in interest from respondents, as investors focus on minimizing operational costs.

Tokyo retained its top position as the preferred city among hotel investors, supported by low interest rates and stable income streams generated by hotel properties. Osaka also made it to the top five cities for similar reasons. Singapore and Sydney were also ranked among the top cities, with CBRE attributing it to strong hotel fundamentals, including growth in daily rates and underlying operating profits. Seoul also stood out, with an increase in daily rates driven by more visitors from mainland China, leading to a rise in investor activity in recent months.

Overall, the survey showed that investors are confident about the APAC hotel sector’s potential in 2025, with strong buying intentions fueled by a rebound in tourism and limited hotel supply. This optimistic outlook is also supported by the shifting preferences towards the upscale and upper midscale segments, as well as emerging trends such as long-stay and hybrid hospitality models.…

The recent merger of ETC (formerly known as Edmund Tie) and OrangeTee Group has been announced in a joint press release on Feb 24. The two companies will form a new holding company, although the name of the company is yet to be disclosed. According to Desmond Sim, CEO of ETC, this is a collaboration of two equal parties, not an acquisition.

Sim, who will take on the role of group CEO for the merged entity alongside his current position as CEO of ETC, will work alongside Justin Quek, the current CEO of OrangeTee & Tie who will serve as the deputy group CEO of the new holding company.

After the merger, ETC will focus on consultancy and advisory services while OrangeTee will concentrate on proptech and its real estate agency business, supported by its network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of Feb 24. OrangeTee & Tie’s CEO, Justin Quek, will assume the role of deputy group CEO of the new holding company post-merger.

The combined entity will have over 520 staff, in addition to the 2,803 salespersons. Sim says that by pooling their expertise, resources and networks, they can achieve significant growth, create value for all stakeholders and achieve the scale required to thrive in the current dynamic real estate landscape.

This is not the first collaboration between the two companies. In August 2017, they merged their associates’ business under a new entity, OrangeTee & Tie, which had a sales force of over 4,000 agents and propelled the company to the third spot among the top three agencies. After the joint venture, former Edmund Tie took a 20% stake in OrangeTee & Tie. This year marks the 30th anniversary of ETC.

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Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. The country’s advantageous position as a global business hub, along with its robust economic foundations, fuels a constant demand for real estate. Through the years, Singapore’s property values have continually increased, particularly in prime locations where condos have experienced considerable appreciation. Savvy investors who enter the market at the opportune moment and maintain ownership of their properties for an extended period can reap substantial profits. Singapore Projects presents a promising opportunity for investors to capitalize on this trend.

The latest merger between ETC and OrangeTee was facilitated by Triplestar Holdings and TH Investments, which acquired a stake in ETC after a management buyout in 2016. As some of the original shareholders retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to about 60%. Today, Triplestar Holdings and TH Investments own 100% of ETC. ETC is celebrating its 30th anniversary this year.

OrangeTee Group was incorporated in 2000 and will celebrate its 25th anniversary this year. It is an investment holding company, which is led by the board of directors and supported by the C-suites comprising Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO and Christine Sun, chief researcher & strategist.

With a strengthened brokerage and consultancy team supported by advanced proptech, Quek believes that they are ready to scale their capabilities and provide innovative, seamless solutions across all real estate sectors.

Stakeholders in OrangeTee Group include Tokyu Livable Inc. which acquired a 22.5% stake in the firm in 2014. Tokyu Livable is one of Japan’s largest real estate agencies with 198 offices nationwide, and a subsidiary of Tokyu Fudosan Holdings – the real estate business of giant conglomerate Tokyu Group. Vogue Capital Group, a private property fund, also has a stake in OrangeTee Group.

Both Vogue Capital and Tokyu Livable will hold a stake in the new holding company after the merger along with Ng’s Triplestar Holdings and TH Investments. ETC’s joint venture in Malaysia, Nawawi Tie, opened an office in Johor Bahru last year. The firm also has a presence in Penang and Malaysia, and an associate company in Thailand, Edmund Tie & Co (Thailand).

Sim believes that this merger will create more opportunities for them in the ASEAN region and Japan, particularly through their relationship with Tokyu Livable.…

Joint developers UOL Group and CapitaLand Development (CLD) have announced that they sold over 87% of the 1,193 units during the launch weekend of ParkTown Residence in Tampines North. The project achieved an average price of $2,360 psf, with most buyers being Singaporean homebuyers or investors. The popular unit types were two-bedroom and three-bedroom apartments, which accounted for 83% of the project and were 92% snapped up during the weekend.

According to Anson Lim, UOL’s general manager of residential marketing, the project received 2,367 cheques before its launch weekend, which translates to a sales conversion rate of 44%, surpassing the average of 30% to 35% for most new project launches in recent years. Mark Yip, CEO of Huttons Asia, notes that no mega project has sold more than 1,000 units in its launch weekend since the 1,399-unit High Park Residences, which sold 1,100 units over three days in July 2015.

ParkTown Residence is the first mixed-use development integrated with a transport hub in Tampines, and it has been well-received by buyers. The project is connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre, making it a unique and convenient development. This has attracted a lot of interest from buyers, with 71% of the 732 units at The Reserve Residences sold during its launch weekend in May 2023, and the recent integrated project, Emerald of Katong, selling 99% of its 835 units in November last year.

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Investing in a condo in Singapore: A Wise Choice for Your Investment Portfolio

The idea of investing in a condo in Singapore has become increasingly appealing to both local and foreign investors. This is primarily due to the country’s stable economy, political climate, and high quality of life, making it a desirable location for real estate investments. With a range of opportunities available in the market, condos have quickly emerged as a top choice for investors, thanks to their convenience, amenities, and potential for high returns. Let’s delve into the benefits, important considerations, and necessary steps when investing in a condo in Singapore.

Why Opt for a Condo in Singapore?

Condos in Singapore have the ability to cater to a diverse range of needs and preferences, making them an attractive investment option for people from all walks of life. Whether you are a young professional, a family, or a retiree, there is a condo to suit your lifestyle. These properties are strategically located in prime areas, providing easy access to business districts, schools, and other essential amenities. They also come equipped with a variety of facilities, including swimming pools, gyms, and 24-hour security, offering residents a luxurious and stress-free living experience.

Furthermore, investing in a condo in Singapore offers the potential for impressive returns. With a continuously growing population and a steady influx of expats, there is a high demand for condos in the city-state. This creates viable opportunities for investors to generate a steady rental income and witness an increase in the property’s value over time.

Key Factors to Consider

As with any investment, it is crucial to carefully consider several essential factors before committing to a condo in Singapore. Firstly, determine your budget and the amount you are willing to invest. This should include the purchase price, stamp duty, and whether you will require financing. Additionally, conduct thorough research on the location, developer, and surrounding amenities and infrastructure of the condo to ensure a sound investment.

The Process of Investing in a Condo in Singapore

Investing in a condo in Singapore involves a straightforward process. Once you have found a suitable property, you will be required to pay an option fee of 5% of the purchase price to secure the unit, valid for 14 days. Within this period, you must exercise the option to purchase by signing the Sales and Purchase Agreement (S&P) and paying an additional 15% of the purchase price. The remaining balance is paid upon completion of the transaction. It is advisable to hire a licensed real estate agent to guide you through the process and provide valuable insights.

In conclusion, investing in a condo in Singapore offers numerous benefits such as convenience, amenities, and potential for high returns. However, it is crucial to conduct thorough research and consider essential factors before making a decision. With the right approach and guidance from a licensed agent, investing in a condo in Singapore can be a lucrative and rewarding venture that will undoubtedly enhance your investment portfolio.

ERA Singapore CEO Marcus Chu stated that mixed-use developments integrated with transport hubs have seen strong demand from homebuyers and investors due to their potential for capital appreciation and high rentability. The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, 65% higher than the average resale prices of residential units in District 27, while Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19.

ParkTown Residence is located at Tampines Street 62, which is the third largest HDB town after Hougang and Woodlands. Huttons’ CEO Mark Yip noted that a lot of buyers were HDB upgraders who desired to stay in Tampines. The completion of ParkTown Residence in 2030 aligns with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), which is a major arterial line running from East to West of Singapore. There are also plans for three more government land sales (GLS) sites linked to the upcoming Tampines North MRT Station, but these could potentially be launched at higher prices.

In addition, Tampines will also benefit from new infrastructure developments by 2027, such as a cycling bridge, an underpass, and an additional 7.7km of cycling paths, bringing the total to 40km. There is also a planned pedestrian route connecting Tampines MRT Station to the malls in the regional centre. All these developments will enhance the liveability in Tampines, making it an attractive location for homebuyers and investors.…