Watertown, Punggol’s first integrated waterfront residential and retail development, is fast shaping up to be an exciting lifestyle hub of the Northeast, with Singapore’s homegrown supermarket operator NTUC FairPrice bringing its up-market brand FairPrice Finest to the retail mall, Waterway Point.
Artist’s impression of Watertown, Singapore’s first integrated waterfront residential and retail
development nestled at the heart of the new Punggol Central and along the banks of the
Punggol Waterway .
Waterway Point will feature a “24 Hour Basement” level, with FairPrice Finest supermarket and Shaw Theatres anchoring the activities round-the-clock, complemented by various dining and entertainment outlets that will add more buzz and vibrancy to the mall.
Watertown residents will get to enjoy the luxury of accessing their basic necessities and entertainment needs right at their doorsteps, benefitting from new retail concepts that are developing at Waterway Point.
With total development costs estimated at over S$1.6 billion, Watertown is to date the largest private development in the Punggol Central master plan and is set to become the definitive ‘coastal town of the 21st century’. Jointly developed by Far East Organization and Sekisui House Ltd, the entire Watertown development is designed to seamlessly integrate a high quality shopping mall, residences, and a comprehensive public transport network.
Waterway Point attracts NTUC as new anchor tenant NTUC FairPrice Finest will occupy approximately 30,000 square feet (sq ft) of retail space at Waterway Point, making it one of the largest Finest outlets in Singapore, offering a wide range of quality products and value-added services, as well as a conducive shopping environment that collectively aim to bring the finer things in life to shoppers. This will also be the tenth FairPrice Finest outlet in Singapore, and its second 24-hour Finest outlet, after Serangoon Gardens.
Christopher Tang, CEO, Frasers Centrepoint Commercial said, “We are delighted that NTUC FairPrice Finest has committed to be one of the early anchor tenants. This affirms the strong appeal of Waterway Point and we are confident that the Mall will be the centre of attraction at Punggol waterfront. Shoppers can look forward to a whole new shopping, dining and entertainment experience.”
Once completed, Waterway Point aims to offer a diverse shopping and dining experience,
with retail and F&B outlets taking up the majority of the floor space (40% and 30% respectively). The remaining spaces will be taken up by entertainment and other service providers such as education institutions, banks, civic and community amenities. It will provide a fresh retail and lifestyle experience to not only residents in Punggol, but also
shoppers from across the island.
Choice waterfront homes still available
To date, almost 97% of the residences within the 992-unit development have been sold out. The last 34 remaining units, which are amongst the best-facing units within the development overlooking the Punggol Waterway, are still available for sale. These are mainly 3 to 4- bedroom units, with sizes ranging from 1,173 sqft to 1,550 sqft. The developer is giving away FairPrice Finest vouchers ranging from S$8,000 to S$10,000 for each new buyer.
In August, Hyundai Engineering & Construction Co., Ltd was awarded the main construction contract worth US$380 million for the Watertown development. The construction of the retail component has just commenced and is scheduled for completion by 2015, while the development of the residential component is expected to be completed by 2017