Category Archives: East Properties

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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.

WHAT IS THE THOMSON-EAST COAST LINE?

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.

 

TEL MAP

 

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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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.

Source: http://www.straitstimes.com/business/property/cdl-snaps-up-amber-park-for-9067m-setting-new-record-for-freehold-en-bloc-sale

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