Fanny Cheng

Director of niche developer Victory Land Fanny Cheng bought a 9,873-square-foot freehold site at 1C Evelyn Road for $18.25 million ($1,849 psf) in March 2021. The old bungalow that used to be there will be turned into a 16-story condo building called Enchanté. Victory Land’s first condominium project is this small, freehold development.

Enchanté has only 25 units and was made by Metaphor Design + Architecture. Most of the units have three or four bedrooms, but there is one penthouse with five bedrooms. Cheng says that the apartments are for families with more than one generation and long-term investors.

Since the idea for the project came up last year during covid period, Cheng made sure that the units would have enough space and flexibility for people who need to work from home. She says, “Covid has changed the way people live.”

Enchanté is in the best part of District 11 and can be reached from both Newton Road and Dunearn Road. Three Anglo-Chinese schools (Primary, Junior, and Barker Road) and St. Joseph’s Institution are all within 1 km of each other (Junior and Secondary). Tanglin Club, The American Club, Raffles Town Club, and Singapore Polo Club are all near each other. From Evelyn Road, it only takes six minutes to drive to Orchard Road, and it takes 14 minutes to drive to the city center. At the same time, Enchanté is only a five-minute walk from the Newton MRT Station.

Enchante Living Room

Dual Key Configuration

Nine units are three-bedroom apartments with a home office that are 1,001 square feet, and seven units are three-bedroom apartments with two keys that are 1,087 square feet. Two more units are three-bedroom apartments with a home office that are 1,087 square feet, and two more are three-bedroom duplexes that are 1,270 square feet. Four of the units have four bedrooms plus a home office and are 1,281 square feet. The five-bedroom penthouse is 1,701 square feet.

The project is supposed to start being built in September, and it should be done sometime in 2026.

Enchante Living Room 2

Cheng says that each floor has only two units, and that the units are made so that they could be put together. The owners of the dual-key units can knock down the wall between the studio and the two-bedroom apartment to make a single three-bedroom unit. The ceiling height in most units is 3.15m, but in the penthouse, it is 4.5m. The developer also sells smart appliances, like smart ovens and washing machines, to people who live in their homes.

Enchante Master Room

Doris Ong, who is the deputy CEO of ERA Singapore, thinks that people who want privacy will like Enchanté. “This project is unique because it is close to Orchard Road, the Central Business District, schools, and the medical hub at Novena. Thomson Medical Centre and Mount Alvernia Hospital are also close by.”

Ong says that the three-bedroom units with two keys will appeal to people who want to buy for their own use but also want to be able to rent out either the studio or the two-bedroom unit. “No matter how big the apartment is, you pay extra buyer’s stamp duty for just one unit when you buy a dual-key apartment,” she says.

Amenities on Alternate Floors

Enchante Dining Pavilion

From the second to the 14th floors, residents can find things to do on every other floor. Cheng from Victory Land says that the ceilings on these floors are 7m high and have two levels.

On the second floor, there is outdoor dining, a multi-purpose room, a gym, and a swimming pool that is 12.5m long. There is a play area on the fourth floor, and a herb garden on the eighth floor. On the 10th floor, there is a landscaped garden with WiFi for people who don’t want to work from their apartment. Cheng says that on the 12th floor, there is a place called “The Vantage Point.” It has a landscaped garden and water features, as well as a viewing deck where people can see the whole city.
Dominic Lee, head of the luxury team at PropNex, says that even though the land is less than 10,000 square feet, the developer did a good job of putting common areas on landscaped terraces on every other floor. “The layout of the units is well thought out, and they have good common areas.”

Cheng says that the official launch of Enchanté will happen in early September, after the Hungry Ghost Month (July 29–August 26). The soft launch took place July 23–24. She thinks that the units are priced between $2,700 and $2,800 per square foot (psf). Apartments with three bedrooms cost between $2.7 million and $3.2 million, while apartments with four bedrooms start at $3.5 million.

Lee from PropNex says that the prices of the units at Enchanté are “reasonable,” given that it’s a freehold project in the highly desirable District 11 and near popular schools like Anglo-Chinese and St. Joseph’s.

According to caveats, 359 of the 372 units at Amo Residence at Ang Mo Kio Avenue 1 were sold over the weekend of July 23-24 for an average price of $2,106 psf. A suburban condo, the 99-year leasehold development is in the Outside Central Region of District 20. Popular schools like Ai Tong School and St. Nicholas Girls’ School are less than 1 km away, and the Mayflower MRT Station is only 400 m away.

Prices in Amo Residence even hit $2,406 psf while the largest penthouse, a 2,497 sq ft unit with five bedrooms, sold for $6.008 million at the VIP preview before the launch. Lee of Prop-Nex says that the starting price of Enchanté is more than $2,400 psf.

 

Well Surrounded by Other Boutique Developments

10 Evelyn by Amara Holdings is a small-scale development that is right next to Enchanté. The 56-unit, five-story, freehold project has apartments with anywhere from one to three bedrooms, with sizes ranging from 527 sq ft to 1,432 sq ft for three-bedroom duplex penthouses. Launched in January 2019, about 14 units have been sold at an average price of $2,510 per square foot (psf), according to caveats.

“The Evelyn Road neighborhood is quiet and mostly made up of private houses and boutique non-landed developments,” says ERA’s Ong.

Cheng of Victory Land knows the private residential enclave of Evelyn Road-Gilstead Road-Buckley Road, which is near Newton Road and Dunearn Road. After all, she helped build 35 Gilstead, a small condo complex on Gilstead Road with only 70 units. The project is being done by Amcorp Global, which used to be called Tee Land. Cheng worked there as assistant general manager of property development until she left in 2018. She had been with Tee Land for 15 years.

Cheng wants to add more properties to Victory Land’s portfolio, so he is already looking for more places to build. She plans to focus on sites with 999-year leaseholds or freeholds in the most desirable areas of 9, 10, and 11. Outside of these top neighborhoods, she is open to options in the East Coast (District 15) and the Bartley area of District 19.

Cheng says she wants to stick to what she knows best, which is building small projects with 25 to 100 units.