SINGAPORE - Developers are preparing a slew of private housing projects for release in the next few weeks, including V on Shenton on the former UIC Building site, Parc Olympia at Flora Drive in the Upper Changi area and Parc Centros near Punggol MRT Station.
Next week, City Developments and Hong Realty are expected to roll out their Green Mark Platinum landed housing project, Haus@Serangoon Garden. The 99-year leasehold development will have 97 terrace houses. The homes are expected to cost $2.5 million-$3 million each. A typical intermediate terrace house will have land area of about 1,600 sq ft and built-up floor area of about 3,600 sq ft.
Capitol Investments is also said to be mulling over the release of some of the 39 units at its Eden Residences Capitol, near City Hall MRT Station, perhaps later this month or early next month.
The 99-year leasehold units - comprising three and four-bedders, as well as penthouses and garden villas - are on levels 3-11 of a new tower that will rise next to the landmark Capitol Theatre. The apartments will be opposite St Andrew's Cathedral; most units will enjoy views of Marina Bay.
A typical three-bedroom apartment will be about 2,200 sq ft and a four-bedder, over 3,000 sq ft.
Pricing for the apartments has yet to be fixed but some market watchers suggest it could touch $3,000 psf - given their unique positioning within Singapore's civic and cultural district.
Eden Residences Capitol will be part of a mixed development (retail, theatre, hotel and residences) that will include the historic Capitol Theatre, Capitol Building and Stamford House - which are being conserved and restored for adaptive re-use.
In the financial district, United Industrial Corporation is getting ready to release its V on Shenton (or Five on Shenton) towards the end of this month, BT understands. The project comprises 510 apartments in a tower that will rise to 54 storeys. Units range from studios to three-bedders; there will also be six penthouses. Word on the street is that the average pricing for the 99-year leasehold project could be in the $2,300-$2,500 psf range.
Unit sizes are about 440-plus sq ft for studios, 880 sq ft for two-bedders, 1,000 sq ft for two-bedder-plus-study units and 1,500-1,750 sq ft for three-bedders. Penthouses range from around 3,300-7,000 sq ft. In addition to facilities like a swimming pool and club lounge (on the roof of the carpark podium), residents can use outdoor dining areas to host private parties (on level 24) and take in views from open-air landscaped gardens (on level 34). An indoor gym will be on the 35th level. V on Shenton is part of a mixed development that will include a 23-storey office tower.
In the 99-year, mass-market condo segment, Koh Brothers is expected to preview next week its Parc Olympia project at Flora Drive. Observers say that pricing could average around $880-$900 psf.