Developers sold 250 executive condominium units for the month of November, 2016.
This is down slightly from the 288 executive condo units sold in the previous month of October.
3 new ECs to watch for in 2017
Only three new executive condominiums (ECs) are targeted to launch next year, down from five projects in 2016. Their names haven’t been revealed yet, but the sites are at:
1) Choa Chu Kang Avenue 5
The EC site at Choa Chu Kang Avenue 5 was awarded to a consortium led by Qingjian Realty in August 2015, after the developers submitted the top bid of $156 million ($295 psf per plot ratio) for the 1.6ha site. The 99-year leasehold site is located close to Sunshine Place shopping centre and Chua Chu Kang Primary School. It could yield about 490 units.
2) Yio Chu Kang Road
Hoi Hup Realty won the 1.8ha EC site at Yio Chu Kang Road in February 2016. The developer submitted the highest bid of $183.8 million, which works out to about $331 psf on the gross floor area. Offered on a 99-year lease, the site could yield around 520 units. Nearby amenities include the Hougang 1 shopping mall, Nanyang Polytechnic and Rosyth School.
3) Anchorvale Lane
The 2.1ha EC site located beside the Punggol Reservoir was awarded to Hoi Hup Realty and Sunway Developments in September 2016, after the developers jointly submitted the top bid of $241 million. The price translates to $355 psf per plot ratio. The Tongkang LRT station and several schools are located nearby. The 99-year leasehold site is expected to yield approximately 635 units.