Jui Residences attracts strong interest for being a freehold at leasehold prices

SINGAPORE – SDB Asia’s launch of the 117-unit Jui Residences along Serangoon Road in Singapore last weekend received strong interest from property purchasers with a conversion rate of 42%.

29 cheques were successfully converted to “Option To Purchase”, out of a total of 70 cheques collected during and since the weekend of 22 September 2018.

Located right next to the Kallang River, Jui Residences consists of 117 contemporarily crafted units in an 18-storey tower.

The strong interest stemmed from Jui Residences being a “freehold development at leasehold prices” at around SGD $1,700 per square foot, making this development excellent value for money.

This, coupled with its strategic location with a historical landmark in its premises and being backed by an internationally-acclaimed property developer with a solid track record in Singapore, makes Jui Residences a smart investment. In fact, Jui Residences is currently the only freehold development in Serangoon.

Jui Residences received strong interest from property purchasers with a conversion rate of 42% over the weekend of 22 Sept 2018

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Being freehold property, Jui Residences is advantageous from an investment point of view for aspiring property owners who are looking for longer-term investments. This is because freehold properties generally see a more stable increase in value and is definitely a hedge against inflation.

A freehold property stands the test of time as it is not subjected to depreciation of land value with time, unlike leasehold developments.

Most importantly, Jui Residences is located in Urban Redevelopment Authority’s (URA) earmarked growth districts of Bidadari and Kampong Bahru areas. Plans to rejuvenated the iconic Kallang River is already underway.

By 2030, another 100,000 residential homes will be built in that area, transforming the Kallang River into a lifestyle hub, with waterways, greenery and seamless park connectors.

Jui Residences being right next to the Kallang River will stand to benefit from this major facelift and keeneyed investors are said to have identified this area as offering a potential extraordinary return on investment.

What makes Jui Residences a sound investment is its strategic location. The project is just minutes away from the Pan Island Expressway (PIE), Central Expressway (CTE) and Serangoon Road to areas such as the Kallang Basin Area, the Orchard Shopping District, the Central Business District in Raffles Places, Marina Bay as well as supper spots around the Geylang area. It is also located just 600m walk to Potong Pasir MRT Station and has access to numerous buses plying Serangoon Road.

Orchard. Picture: iProperty

Jui Residences is located on the same parcel of land on what was formerly the National Aerated Water Company (NAWC). Late last year, URA announced that SDB would work closely with URA to keep the building as part of Singapore’s national history and the main building of the former bottling factory will be conserved.

What’s more, the development is backed by the Selangor Dredging Berhad (SDB) Group which is world renowned for its commitment to design and aesthetics, uncompromising quality and a proven track record.

To date, the SDB Group has successfully completed five reputable projects in Singapore, including Hijauan on Cavenagh which won the World Silver Winner of FIABCI World Prix d’Excellence Awards 2018 in the Residential (Mid-Rise) category earlier this year. Another development, Village at Pasir Panjang won the Singapore Property Awards in the Residential (Low-Rise) category this year.

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The concept of Jui Residences serves as a reflection of Singapore’s art deco heritage and to blend with the NAWC heritage building. Its art deco elements are apparent through the vertical flutes on the façade, arched detailing on the balconies and wide inset curves at the podium. An infinity lap pool at the raised facility podium deck provides for unobstructed views of the Kallang River.

Like other SDB properties, this 18-storey tower presents contemporarily crafted units with excellent spatial planning. Homes are designed with comfortable living spaces and abundant natural lighting and ventilation throughout the unit.

Subtle art deco features continue into the bedrooms, with herringbone timber flooring to provide a warm and restful ambience. The carefully planned internal layout allows for unhindered spaces with natural lighting and ventilation.

Jui Residences also faces a wide frontage of the Kallang River and units at the development will have an unblocked view of the Kallang area as well as the Boon Keng area. The building design is put together by a world-class Architect, CarverHaggard of London with landscape and artworks by Okashimo Pte Ltd.

Jui Residences is scheduled to be completed in mid-2022.

Article contributed by Selangor Dredging Berhad (SDB).