On Saturday, September 7, BUKIT Sembawang Estates will begin previews for its Upper Bukit Timah project 8@BT. Prices per square foot (psf) will begin at S$2,530.
The 158 condominium units are made up primarily of one- and two-bedroom units.
One-bedroom apartments range in size from 517 to 592 square feet (sq ft). 624 to 829 square feet make up two-bedroom apartments. Four-bedroom apartments range in size from 1,356 to 1,593 square feet, while three-bedroom homes are between 1,001 and 1,270 square feet. Additionally, the development provides two 1,356- and 1,593-square-foot penthouses.
Seated on 49,633 square feet of land purchased at a state tender in 2022 for S$200 million, at S$1,343 per square foot per plot ratio (psf ppr), the 99-year leasehold project is situated in District 21. Two 20-story buildings will hold the condo’s apartments.
“We are confident that 8@BT will appeal to a wide range of buyers – from young couples to families and right-sizers – owing to the unmatched location, strong growth potential of the estate, and unique pure residential proposition,” stated Lisa Goh, general manager (marketing and sales) at Bukit Sembawang.
With its position in a well-established residential enclave in the Rest of Central Region and next to the Bukit Timah nature reserve, marketing agencies anticipate that the modestly-sized project would be well-received.
Nearby projects include The Reserve Residences by Far East Organisation, which sold 520 out of 635 units at opening in May 2023 for an average price of S$2,460 per square foot. The Linq@Beauty World, which is located nearby as well, sold 96% of its 120 units upon debut in November 2020 at an average price of S$2,150 to S$2,200 psf.
JLL’s head of residential research, Chia Siew Chuin, observed that only two significant projects—suburban condos in the Outside Central Region—were introduced to the market between June and August.
During their respective debut weekends in July, SingHaiyi’s Jurong-based Sora and Hong Leong Holdings’ Tampines-based Kassia sold 23% and 52% of their respective 440 units and 276 units, respectively. According to caveats data, Sora and Kassia’s most recent median prices realised were S$2,152 and S$2,049, respectively.
On September 21, UOL is scheduled to open the private preview for its freehold Meyer Blue property. There will be 226 apartments in the East Coast project, with two to five bedroom options as well as two penthouses. In the residential project, UOL owns 80% of the shares, with Singapore Land (SingLand) owning the remaining 20%.
In February 2023, UOL and SingLand paid S$392.2 million, or S$1,668 per square foot, for the 96,672 square foot site as part of an en bloc acquisition of the Meyer Park condo.
This month, City Developments is anticipated to promote Union Square Residences as well.Union Square is a mixed-use development that includes the Havelock Road project, which is a renovation of CDL’s Central Mall and Central Square property. It is expected to produce 366 units.
Following a pause during the Chinese Hungry Ghost month, which is regarded as unfavourable for new property debuts, there has been a rush of new condo openings.
Sales for 8@BT will begin on September 21. It is anticipated that the project will obtain its Temporary Occupation Permit in 2027 during the fourth quarter.
