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New Housing Developments in Marine Parade( District 15) in Year 2018, 2019

Brief History of Marine Parade

Many people known Marine Parade( 马林百列)  for the renowned food- Katong Laksa and East Coast Park!

Situated on the east coastal of Singapore , most of the housing (especially the hdb flats) is sitting on reclaimed land. It is not a surprise that majority of the housing developments in Marine Parade have beautiful sea-views or city-views!

Marine Parade will be served by the Mass Rapid Transit (MRT)  network when its station on the Thomson-East Coast Line (tEL) stage four opens by 2023.

The 13-kilometre East Coast stretch of the TEL will connect commuters living in the eastern parts of Singapore and who are not directly served by the rail network currently, such as those in Tanjong Rhu, Siglap, Marine Parade, Upper East Coast and Bedok South, to the heart of the city.

The new addition of MRT that will be ready by 2023 : Tanjong Rhu – Katong Park – Tanjong Katong – Marine Parade – Marine Terrace – Siglap – Bayshore. 

LTA will also build Singapore’s first underground MRT station bicycle parks, at four stations along the East Coast stretch – including the Marine Parade and Marine Terrace stations.


Announced by Land Transport Authority (LTA) in August 2014, The Thomson-East Coast Line (TEL) is a joint line between the Thomson Line and the Eastern Region Line.

The 43km TEL will add 31 new stations to the existing rail network, with 7 interchange stations, which will link to the East-West Line, North-South Line, North-East Line, Circle Line and the Downtown Line.

Commuters can start enjoying the TEL in stages from 2019.




New* Project developments in Marine Parade

Project Developments TOP DATE Tenure Developer Nearest MRT
Marine Blue 2017 Freehold Capitaland Marine Parade
45 Amber Road 2023 (Est) Freehold UOL Marine Parade
Amber Skye 2017 Freehold

China Sonangol

Tanjong Katong
Freehold Roxy Pacific Marine Parade
Amber Park TBA Freehold CDL, Hong Leong Tanjong Katong
Parkway Masnion TBA Freehold Sustained Land Tanjong Katong


Revitalizations in Marine Parade:

  • Official opening of The Flow commercial building  in between of Roxy Square as well as Holiday Inn Express
  • Parkway Shopping Mall: A 7-screen cinema opened in September 2017, taking over the former True Fitness space at Level 7.
  • Opening of i12 Katong mall in 2011


References: Wikipedia, LTA, Business Times, Straits Times, Asia One

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Private property market has turned but price increases will be gradual, say analysts

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SINGAPORE – Private home prices have turned but increases going forward will be gradual because of strong property cooling measures in place, according to early analyst reactions.

The analysts were responding to official flash estimates showing the private residential prices rising quarter-on-quarter for the first time in nearly four years, according to a Urban Redevelopment Authority (URA) index released earlier on Monday (Oct 2).

ERA Realty Network says it expects prices “to remain flattish, possibly moving within the range of 0 per cent to 1 per cent for the whole year”. Year to date, prices have inched up by 0.1 per cent.

Its key executive officer Eugene Lim noted that robust sales underpinned the 0.5 per cent quarter-on-quarter increase in private home prices in the three months to September.

ERA estimated that from July 1 to Sept 24, covering almost the whole of the third quarter, 2,870 private properties were sold by developers and 3,112 resale caveats lodged. This is already a 44.9 per cent and 19 per cent increase from the 1,981 developer units and 2,615 resale units in the same quarter a year ago.

Its key executive officer Eugene Lim noted that robust sales underpinned the 0.5 per cent quarter-on-quarter increase in private home prices in the three months to September.

ERA estimated that from July 1 to Sept 24, covering almost the whole of the third quarter, 2,870 private properties were sold by developers and 3,112 resale caveats lodged. This is already a 44.9 per cent and 19 per cent increase from the 1,981 developer units and 2,615 resale units in the same quarter a year ago.

“We view this as a strong signal that the market has turned,” said Mr Lim. “However, as the TDSR continues to keep a lid on prices, we are expecting any price increase to be gradual.”

The TDSR, which refers to the total debt servicing ratio which limits how much buyers can take out in home loans, was the the biggest of government property cooling measures introduced in the middle of 2013.

Mr Lee Nai Jia, senior director and head of research for Edmund Tie & Co, said the third quarter price rise is “unlikely to be a flash in the pan, given that private residential sales have been building up for a while”.

He also expects prices to slowly trend up, and sees them rising by 4 to 8 per cent in 2018.

OCBC research analysts Eli Lee and Andy Wong forecast private home prices to be overall flat in 2017 and to appreciate 3 per cent to 8 per cent in 2018, as the rental market begins to pick up and macro-economic conditions remain firm.

Desmond Sim, CBRE Research head, Singapore and South East Asia, said the 0.5 per cent price increase “is the best indicator that the correction period of the market is past us”.

But he noted it is still too early to call a market rebound “as we need more than one data point”.

Mr Sim said he expects price increases to hover between 0 per cent and 2 per cent, with “a near-definite increase” in the URA index in the next six months expected, driven particularly by higher land prices than by a demand-supply mismatch.

“The Singapore government will now be monitoring the price performance closely but the impending rise in interest rates will be a major factor to consider when buyers decide on a purchase,” he cautioned.



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CDL Snaps up Amber Park through enbloc

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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.


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Enbloc Fever: SC Global unit buys Jervois Gardens for S$72m


A SUBSIDIARY of luxury residential developer SC Global has picked up Jervois Gardens through a collective sale at S$72 million. The price works out to nearly S$1,511 per square foot per plot ratio (psf ppr) for the 34,038-sq-ft freehold site. No development charge is payable.

Under the Urban Redevelopment Authority’s Master Plan 2014, the site is zoned for residential use with 1.4 plot ratio. Inclusive of an additional 10 per cent gross floor area (GFA) for balconies, the unit land price works out to a lower S$1,373 psf ppr. The sale is subject to the approval of the Strata Titles Board.

The SC Global subsidiary that has been awarded the Jervois Gardens collective sale is Brownstone Pte Ltd. Colliers International brokered the sale. The tender for the site closed on Sept 26, attracting eight bids.

Jervois Gardens, comprising two low-rise blocks of 14 maisonettes and three apartments, is located at 30F and 30G Jervois Road. Depending on the size of units, each owner can potentially receive between S$3.3 million and S$4.5 million.

Tang Wei Leng, managing director of Colliers International Singapore, said: “This is Jervois Gardens’ third attempt at a collective sale and we are very proud to have facilitated its successful sale.” The eight bids received is testament to the prime freehold site’s strong redevelopment potential, she added.

The site can yield a GFA of about 52,419 sq ft, including the additional 10 per cent GFA for balconies, Colliers said. “The site is well located between the Redhill MRT Station and the future Great World City MRT Station. Its proximity to the nearby park connector will provide the 50 to 70 homes that can potentially be built on the site with amenities that promote a healthy lifestyle.”

Andrew Khor, chairman of the collective sale committee for Jervois Gardens, commented: “The team at Colliers International has been very efficient, structured and transparent throughout the entire process.”

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Spring Grove 2nd Enbloc Attempt

SPRING GROVE condominium along Grange Road is going back on the market, three years after its first collective-sale bid failed, a Straits Times report said. Its owners are hopeful for a bid of at least S$1 billion, after having asked for S$1.39 billion in 2014, a sale committee representative told the newspaper on Thursday.

The price tag works out to about S$1,807 per sq ft (psf), based on a maximum gross floor area of 553,377 sq ft. It could also spell a windfall of an average of S$3 million for each of the 325 households.

It was not clarified whether the S$1-billion consideration includes a lease top-up premium. The tricky nature of the project is such that it is built on the estate of a former United States diplomatic residence. It has a 99-year lease which started in 1991 and reverts back to the US government at the end of the tenure as freehold land.

Therefore, selling the development will require co-operation with the US government. The developer will have to pay not only the owners of Spring Grove, but the US government as well.

ST quoted Adrian Loh, chairman of the Spring Grove sale committee, as saying that the residents have learnt valuable lessons from its earlier failed en bloc attempt, and are optimistic about a successful deal this time round, amid the revived collective sale market.

Spring Grove currently comprises three blocks of 20-storey apartments with 325 units, plus a conserved Victorian-styled Spring Grove House – previously an ambassadorial residence and home to several renowned businessmen in Singapore, now integrated within the development as a clubhouse.

The sprawling 263,513 sq ft site can be developed into a maximum gross floor area of 553,377 sq ft. The site is also located close to the residential areas of Chatsworth Road and Bishopsgate, as well as the Orchard Road retail belt and the Central Business District.

Spring Grove’s sales committee is reportedly looking for a marketing agent and a law firm now. Other recent en bloc aspirants include Braddell View, the largest of Singapore’s 18 HUDC estates, and Pine Grove, which is looking at an indicative reserve price of S$1.65 billion that would trump the record of S$1.34 billion set in 2007 by Farrer Court, another former HUDC estate.

Source: The Business Times, 22nd September 2017 


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