In May 2016, Qing Jian Realty bought the old Shunfu Ville land plot for $638 million, the third largest en-bloc we’ve seen in the country. The former HUDC estate is a prime piece of land, and any development here is bound to benefit from the development in the area since the 1980s. Here’s what we know so far:
A new condo is in the pipeline
When Qing Jian Realty purchased the 408,972 sq ft plot, they were being ambitious. The developer paid the Additional Buyer’s Stamp Duty (ABSD) as well as the Qualifying Certificate (QC). Now they have 5-7 years at their disposal to complete the entire project and sell their units. This could be really tough work in case property market goes downward.
However, this development set to be a new icon within the vicinity with its huge land site and also new design that is set to be impressed.
Major highlights of the new condo
At Marymount MRT, public transport is easily accessible. Located in walking distance, it runs into a Circle line.
When the new project will be completed, possibly in 2020, the Upper Thomson MRT station will be easily accessible from the EC. The Upper Thomson MRT station, which is expected to be completed in the same year, in 202, will be just 650m away from the project.
After the completion, the new condo will get served by the Circle line as well as Thomson-East Coastline.
Thomson Plaza, one of the finest and fair priced supermarkets for all your everyday needs, is in the proximity of the new EC. Since Shunfu Food Centre is also nearby, you will never experience food shortage. You will find Raffles Junior College within one -kilometer distance. MacRitchie Reservoir Park is also not very far away. You have an easy access to the educational institution as well as a good spot for weekend hangouts. In this development, residents of some units will be able to see the scenery of the MacRitchie reservoir.
Apart from MacRitchie reservoir, there will be also another hangout place for the residents when the Thomson Nature Park will be completed. The park is going to be complete in 2018. The residents will walk through the trail, hike or bike.
What about the current prices in the area
Currently, properties in the adjacent areas are selling at the average price of $1,400 per square feet. Interestingly, when the development is completed, the price could go higher. Since 2013, the property market has been going down, thus the current price is believed to be slightly low.
Is this development too good to consider?
Perhaps, like me, you may also have a high opinion about this project. Not many private properties are attracting buyers in this area. Perhaps this might be a reason why QingJian offered such a high bid. Therefore, there could be a rush for the buyers to buy the units once they are launched. Those buyers who admire the location and believe it to be a good investment will definitely want to check this out.
The major attraction is the development that resembles a natural enclave. Many important amenities are close. Thus the EC will be something like a place where you spend a couple of years and never feel that you should go back to the city core.
For those who want to enjoy the nightlife, EC life could be boring. If you want to hang out in the cinemas, pubs and shopping centers there are no options available. You can enjoy a long walk, ride a bike or go for hiking, however, if these activities do not appeal you, the EC has nothing to offer you.
Another seafront living apartment is the Seaside Residences located in District 15 at Siglap Link, Singapore. This is a full seafront development that everyone wishes for. It has wide arrays of luxurious life such as whole day of swimming and diving at their lap pool, a gym that will answer your healthy routines and food restaurants.