Yio Chu Kang Road (Executive Condominium)

Site Introduction

Easy Access

It is conveniently linked to the Central Expressway, Tampines Expressway and Seletar Expressway. Travelling by train is equally convenient since the town is served by Hougang, Buangkok and Kovan MRT stations.

Amenities

A short distance away sits Singapore’s first community club with a hawker centre located right within. The hawker centre, a 24-hour delight, offers 40 cooked stalls with 640 seats. Just round the corner, Hougang 1 shopping mall, is the heartbeat of the neighbourhood as it offers a whole gamut of services such as F&B, retail, beauty and enrichment for the young and old. For more shopping choices, Hougang Green Shopping Mall is accessible a few streets away.

Lifestyle

The location has much lifestyle choices to offer. Hougang Sports Centre has available facilities and sports programmes for the sporty and active. Next to the Sports Centre is the Hougang Swimming Complex with a competition pool, a teaching pool and a wading pool for the young and old. And for nature lovers, the neighbourhood park is just across the road.

Schools

Schools mushroom in that vicinity. From pre-schools such as St Vincent De Paul Kindergarten, Cherie Hearts @ Northstar to Hougang Primary School, Rosyth School, Bowen Secondary School, Hougang Secondary School to Nanyang Polytechnic, it avails ready conveniences to families with school-going children.

The project name is Hundred Palms Residences EC. The project is expected to launch in July 2017.

Location: Yio Chu Kang Road
Site Area: 18,422.9 m2
Lease Period: 99 years
Allowable Development: Residential (Executive Condominium)
Permissible Gross Floor Area: 51,584.12 m2
Estimated No Of Residential Units: 520

yio chu kang ec


Tender Results

S/N Name of Tenderer Tender Price
($)
$psm/GFA
($)
1 Hoi Hup Realty Pte Ltd $183,800,000 $3,563.11
2 Nanshan Group Singapore Co. Pte. Ltd. $173,238,458 $3,358.37
3 Qingjian Realty (Residential) Pte Ltd $172,128,000 $3,336.84
4 Wee Hur Development Pte Ltd $170,000,000 $3,295.59
5 Allgreen Properties Limited $161,000,000 $3,121.12
6 China Construction (South Pacific) Development Co. Pte. Ltd. $158,668,000 $3,075.91
7 CEL Residential Development Pte. Ltd. $155,888,000 $3,022.02
8 Evia Real Estate (8) Pte Ltd and GE DG Pte Ltd $145,588,888 $2,822.36
9 Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd. $145,000,000 $2,810.94
10  TTH Development Pte Ltd and K H Capital Pte Ltd $141,033,873 $2,734.06

 

SINGAPORE — An Executive Condominium (EC) site on Yio Chu Kang Road has attracted healthy interest from developers, with the highest of ten bids amounting to S$183.8 million, the Housing and Development Board (HDB) said at the close of tender today (Feb 18).

The 99-year leasehold site, released from the Confirmed List of the second half of the 2015 Government Land Sales programme, sits on 198,302 sq ft of land. With a plot ratio of 2.8, the site has a maximum allowable gross floor area of about 555,246 sq ft and can yield an estimated 520 homes, the HDB said.

The top bid, coming from Hoi Hup Realty, translated to S$331.02 per sq ft per plot ratio.

Mr Eugene Lim, Key Executive Officer at ERA Realty, said: “Despite the high numbers of unsold EC units, we are still seeing heightened interest in the EC segment. The rather high level of competition for the site could be due to its ease of accessibility via driving and proximity to Rosyth School.”

“Also, the site being in an estate surrounded by HDB flats provides for a ready catchment pool for developers. The final development will likely be a family-oriented project, aimed at those with children.

Based on the highest bid, selling prices will possibly be around S$750 psf to S$800 psf,” he added.

Mr Nicholas Mak, head of research and consultancy at SLP International Property Consultants, noted that the top bid was 6.1 per cent higher than the second-highest bid, illustrating the aggressive bid by the developer.

He added: “The top bid is 18.2 per cent higher than the land price of the EC site at Anchorvale Crescent in the same Sengkang planning area, which closed in January 2015 at S$280 psfppr. As the subject site is nearer to amenities such as mall, hawker centre and reputable schools, the higher land premium is expected.”


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