Last year ended with a gap in the new property market sector. But as 2016 moves into gear, market watchers could perhaps look forward to a few potential upcoming developments.
Photo: Marine Blue Condominium
For those looking for a new east-side property, there could be a freehold 25-unit residential project in Sea Avenue near Marine Parade developed by Property group Roxy-Pacific Holdings set to move into action by the later half of 2016. Though prices have yet to be confirmed, that of surrounding condominiums should give a proximation of what’s to come. At the Marine Blue condominium just next door, selling prices were around $1,800 psf. The developer will also be preparing another 32-unit residential site at Jalan Eunos near Ubi, though lower prices of $1,400 psf can be expected as the land was secured more cheaply.
At the recent release of the third Government Land Sales (GLS) site, bids were strong. The new site is for a plot at the junction of New Upper Changi Road and Bedok South Avenue 3. The winning bid came from CEL Residential Development, a Chip Eng Seng subsidiary, whose 1,390-unit High Park Residences project is 94 per sold since its launch last year. They may be planning to build a 720-unit condominium at this new site though the launch may be within the next year or two, when the economy is expected to take the turn for the better.