New EC to launch as market revives

E-applications for an upcoming executive condominium (EC) in Yio Chu Kang Road open next Tuesday, amid a rallying residential property market.

The 531-unit Hundred Palms Residences is the second EC to hit the market this year.

It follows the 497-unit iNz Residence in Choa Chu Kang, which attracted more than 450 e-applications the weekend that it opened in February. Continue reading

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Strong turnout, healthy bids for Yio Chu Kang EC site

Developers still seem to believe in the draw of executive condominiums (ECs), going by the turnout for a Yio Chu Kang Road site that closed its tender yesterday.

Ten firms placed bids for the 1.84ha plot, which can yield about 520 units. Hoi Hup lodged the top offer of $183.8 million, or $331 per sq ft per plot ratio (psf/pr).

The response was a stark turnaround from the more moderate bidding seen last year, when three EC sites had top bids of $278 psf/pr to $295 psf/pr, noted Mr Ong Teck Hui, JLL national research director. Continue reading