Archive for category: Real Estate

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Wing Tai Holdings announced on July 28 that its wholly owned subsidiary Wincove Investment has withdrawn from the purchase by en bloc of Holland Tower for $76.3 million which it had made public four and a half months prior the 15th of March.

This Singapore-listed property developer has cited “non-fulfilment of certain terms” for the reasons behind withdrawing from the deal. Wing Tai declined to comment further when asked.

Holland Tower is a 14-storey apartment block that has only 19 units comprising they are mostly 1,873 square feet three-bedroom units. The property is located on a 21,878 square feet freehold elevated site located at 10. Holland Heights, a quiet road that is located just from Queensway.

According to the URA Master Plan 2019, the site is designated “Residential” which is located in the Holland Park Good Class Bungalow (GCB) Area, which is located in District 10 in prime location.

Setback limitations
It is situated in an area known as the Holland Park GCB Area, the Holland Tower site was given the status of a “special waiver” to allow apartment redevelopment. However it’s subject to strict setback restrictions like the height and gross floor area (GFA). Because it is located close to Queensway which is an area classified as a Category 2 road and is in Land Transport Authority (LTA) language means major arterial road. There is a setback of 15m also.

To build a new condominium block that is 14 stories, URA stipulates a minimum setback of 34m in a GCB Area. URA also prohibits an increase in areas of gross floor, or the amount that dwellings are permitted.

Due to the strict development control that are in place, it could be difficult to follow a developer’s development plan for a new project, as per an experienced property experienced.

Holland Tower has a built-up area of 43,691 square feet according to the existing Gross plot ratio 2.0. “Developers might modify the site in its current built-up area subject to the approval of the appropriate authorities.” SRI Capital Market managing partner Low Choon Sin commented in the press release of March 15.

It was SRI Capital Market’s Low The company, which is the sole marketing agency for Holland Tower has brokered the deal. CTLC Law Corporation was the appointed legal counsel on behalf of the owner’s Holland Tower.

When asked, SRI Capital Market declined to comment on this story.

“Luxurious and iconic development for residential homes’
The ideal project for the site could be a luxurious boutique condominium that consists of a majority of large-format apartment units. Wing Tai planned to “leverage its excellent location advantages to build a luxurious and renowned residential project with amazing views unblocked from the greenery that surrounds Holland Park and the Singapore city skyline” according the the executive Director Tan Hwee Bin in the group’s press release on March 15.

Some experts believe that its plan may be scuppered by site restrictions and limitations.

The $76.3 million transaction price to purchase Holland Tower translates to a land value of $1,764 per square foot in plot proportions. “The cost is harder to determine because of site limitations and constraints,” says a property consultant who would not be identified. “However taking that a typical development site located in the top Holland region, the break-even cost could be around $2,800-2,900 psf with the median selling price for the new project within the range of $3,200-$3,300 per square foot.”

Foreign buyers with high net worth or Permanent Residents (PRs) generally prefer condominiums located in areas like the Core Central Region (CCR).

The cooling measures are being re-examined
But, the government’s recent cool measures announced on April 27 which included an extra buyer’s tax (ABSD) to foreigners increasing to 30% to 60%% up to 60% and a reduction in the demand.

Based on Huttons Data Analytics, the number of non-landed residential properties bought by foreign buyers has decreased dramatically between 112 and 66 units by May, reducing to 27 units, or 2.5% of all such transactions in June.

Certain developers were reacted by postponing launch of their luxury developments within the CCR. City Developments (CDL), for example, had originally planned to unveil their 246 unit Newport Residences, an redevelopment of the old FujiXerox Towers located on Anson Road, on April 29. But, following the cooling measures taken in April 27 CDL announced it was going to postpone the Newport Residences’ preview would be “postponed indefinitely”.

Exiting from En bloc deals
It’s not the first time that a developer has pulled out of an en bloc acquisition. Hong Hong Kong-listed Shun Tak Holdings, for example, pulled out of its en bloc acquisition from High Point 2 1/2 years before, due to the introduction of cooling measures that went into effect on Dec 16 2021. Most notable was the rise by ABSD for foreigners ranging from 20% to 30%% up to 30%%.

The previous week, on the 9th of December 2021 Shun Tak announced it had won the tender for the group deal to purchase High Point for $556.7 million. In the announcement the developer announced its plan to transform the property to become a luxurious residential project that will be completed in 2027.

Shun Tak did not proceed with the 5% down payment on the High Point en bloc deal due the 23rd of December, 2021. The developer even canceled its tender deposit of $1 million.

In the Holland Tower’s instance, Wing Tai may have already made five% deposit. On the basis of the $76.3 million price of the purchase 5, the 5% is $3.815 million.

There is also a possibility that the collective sale committee at Holland Tower submitted an application for the Strata Title Board (STB) to have a sales warrant sent to the purchaser which is in this case Wing Tai.

When the sales contract is issued to the developer The next 5% payment is due. Because Wing Tai has cancelled the agreement and will not continue with the subsequent payment of 5% payment.

“However in the event that the sales conditions weren’t satisfied, the deposit would normally have to be refund,” according to a property consultant.

The latest episode of Holland Tower is likely to put a damper on the market for collective sales that is already stagnant.

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The URA’s Central Region office rental index saw a slowing of q-o-q growth rate of 2.3% in 2Q2023, after two consecutive months that recorded 5.1% q-o-q growth in 4Q2022 and 1Q2023. The rate of growth has decreased, however, it’s the seventh consecutive year of increased growth from 3Q2021.

JLL’s research shows the average monthly gross rents for Grade-A offices within the CBD decreasing in 2Q2023, with just 0.2% q-o-q growth. Rental growth for the quarter has slowed down since 2H2022 when it slowed between 3.0% q-o-q in 3Q2022 to 1.2% in 4Q2022 and 1.1% in 1Q2023.

“It’s an indication that Singapore offices leasing industry is slowing off on the backdrop of the prolonged macroeconomic headwinds” claims Tay Huey Yang, JLL head of research and consulting. “The negative outlook for the economy and the constant downgrades from economists made occupiers wary and a majority of them choosing to renew their leases at lease expiry or the appropriate size to control expenses.”

In the past, difficulties in getting approval for capital expenditures has slowed expansion and relocation operations, Tay adds, particularly for firms with headquarters on the US and Europe, Middle East and Africa (EMEA).

Certain occupiers who decided to look at the long-term, they went on by negotiating deals to upgrade their premises to better facilities. Some significant lease deals in 2Q2023 include US Investment bank Morgan Stanley taking up 100,000 sq ft over five floors in the new IOI Central Boulevard Towers and French advertising company Publicis Groupe’s move to 55,000 sq ft of office space in Guoco Midtown office tower, which was granted a Temporary Occupation Permits in the 1Q2023.

“More occupiers are focusing on space optimization and some are even resizing to make their footprint more efficient,” says Tricia Song, CBRE head of research for Southeast Asia. This could have led to a greater psf monthly rent in the 2Q2023.

Leasing enquiries have declined from large occupiers
However, leasing inquiries particularly from large office tenants are “noticeably limited” since the beginning of 2023, according to JLL’s Tay. She anticipates that some of the ongoing negotiations on mid-to-large pre-leasing contracts for projects being constructed to conclude within the next few months. Leasing is mainly driven by occupiers who have “smallish needs” she says.

Demand for office space from the tech industry specifically has dropped down to around 20% of leases signed in 1H2023, a decrease from 46% in 2022, claims Wong Xian Yang, head of research for Singapore and Southeast Asia, Cushman & Wakefield (C&W).

The tech industry is the second-largest contributor to office demand. However, it has been replaced by the finance sector which was responsible for nearly 49% of CBD new leases in the 1H2023 period this year, an increase from 21% in the previous year.

“Financial and professional service firms have helped to offset a slowdown in demand for tech offices,” says C&W’s Wong. As Singapore’s wealth management sector grows professionals’ services such as legal or certification and education are entering a lot that are office spaces in the CBD.

“Correction mode” in 2H2023
The availability of office space is expected to increase over the next few months, due to the imminent conclusion of IOI Central Boulevard Towers yielding 1.26 million square feet of office space that is Grade A and growing shadow space, says JLL’s Tay.

CBRE’s Song note that the area of the shadow spaces inside offices within Downtown Core Downtown Core “remains quite high” however vacancy rates have been very low. But, “the shadow space may ultimately result in a higher the vacancy rate” Song warns. “Global macroeconomic headwinds as well as corporates cutting costs could worsen this situation during 2H2023.”

In the near-term the demand for office space is expected to outpace supply, says JLL’s Tay. She expects landlords of properties that have high vacancy rates being under pressure to reduce the asking rents in order in order to draw or keep tenants. “As this is the case, pressure upward on office rents needs to ease, and eventually give an opportunity for downward pressure to ease,” notes Tay.

Thus, JLL does not rule out the possibility of CBD Grade Office rents per month could be in an “correction phase” within 2H2023, which could drag down growth for the entire year to moderately negative zone.

The sale of the strata-titled freehold floor of offices at Solitaire located at Cecil at record-breaking price of $4,100 to $4.300 per square foot may be a factor in this 1.0% q-o-q uptick in the URA’s office property price index during 2Q2023 despite it being flat in the 1Q2023 JLL’s Tay notes.

“The rising demand for office buildings that are strata-titled has pushed up the capital value, especially due to the restrictions on the future strata subdivisions of commercial properties in a few precincts in the Central Region,” says Lam Chern Woon, Edmund Tie director of research and consulting.

Recent modifications in the Residential Property Act (RPA) could attract more attention to office buildings in the strata or commercial buildings usage that won’t require foreign buyers to get an approval for purchases on sites designated Residential or Commercial Lam adds Lam.

“With the high-net worth segment and the family offices becoming prominent market players deal-making could occur for assets with a value around $500 million or less,” adds JLL’s Tay. “This could boost confidence in the market for investment sales and support office costs.”

In the meantime, high interest rates in relation to the slashed office yields will keep institutional investors off the market and big-ticket en bloc office deals remaining tepid According to Tay.

Five years ago in the year 2005, when Fairhaven became announced to be sold collectively, Dennis Leong, founder and CEO of DB2 was not the one to offer for it. However, it caught his attention in the year 2020 when Fairhaven returned to the market for collective sale along alongside the neighboring Sophia Ville. The developer paid $62 million to purchase both of the freehold sites situated on Sophia Road in prime District 9.

Altura contact number to be obtain showflat appointment and get a copy of official project details and floor plans.

The two sites resulted in a land surface of 23,881.5 sq feet. “Buying only one parcel isn’t as appealing since you’d only be able to construct an area of 20-30 units,” says Leong. “You must purchase both of them to create a rectangular area.”

The total site space of the site is 23,881.5 sq ft. In addition, the five-story condominium Orchard Sophia will comprise 78 units. Around 15% of them are one-bedders that range between 441 sq ft and 484 sq feet. The majority of them are two-bedders with 581 sq feet to 710 sq feet, making 55 of the units (71%). Three bedders with 764 sq feet comprise only three units, whereas three-bedroom units with dual keys of 829 sq ft up to 829 sq ft make up 5 units within the development.

Leong would like the project to convey the sensation like “staying in a luxurious hotel” starting from getting to the drop-off location or the basement carpark, all the way until the lobby. “I hope that the hotel will be exclusive to residents, no matter if they are proprietors and tenants” Leong confides.

DB2 contracted Ong & Ong as the designer, with EcoPlan Asia as the landscape architect, and Creative Mind Design as the interior designer of the showflats and the interiors of the units at Orchard Sophia.

According to the URA Master Plan, the site has plot ratio of 2.1 that means it could be able to go up to 24 floors. However, because the site is located in Istana Park and is a security concern the building’s height was limited to five stories. This presented an interesting counterpoint to Lai Tien Yong, Ong & Ong studio director-architecture. “There aren’t any taller structures within the area,” he says. “So it’ll be the tallest structure within the region, given its position at the highest point on the hill. Residents will still be able to enjoy an aerial panorama from Orchard Road and Istana Park.”

Based on the orientation of the units within these two buildings, both of which are located in the northwest-southeast, approximately 75% of the units in Orchard Sophia will enjoy unblocked city views, claims Lai. Another 25% of units will be able to see the inner courtyard as well as the lap pool that is 20m in length. Additionally the gap between the two blocks is an air tunnel, so the units will benefit from an excellent cross-ventilation system the developer says.

Alongside the standard balcony, which functions as an extension from the living space Each bedroom will also have an “Juliet balcony” according to Lai. “During Covid, we noticed numerous people who wanted to build small gardens on their balconies” Lai says.

The brass-colored mesh that is placed on the façade has a double purpose beyond its aesthetics: it serves as a privacy screening and shading device that can cut off the sun’s glare in the words of Lai.

‘Creating a semi-Mohamed Sultan vibe’
What makes this development stand out from other developments that are located in The Sophia Road neighbourhood is the area of 6,000 square feet of landscaping and deck on the roof. “We are trying to create an almost Mohamed Sultan-like vibe in this area,” says landscape architect and director of Ecoplan Asia Thanapong Boonyasiriwat (Gong).

Before planning the landscaping, Gong studied the surrounding neighborhood “to see what the competition was” He says. He discovered a neighborhood full of boutique developments so dense that the electrical and mechanical services occupied the entire roof and left no room to plant a garden.

Gong determined to transform his rooftop to something “edgy” and evoke the energy of a luxury resort. Gong divided the rooftop into various areas: a quiet one that is devoted to wellness and spa with a spa pool another one for fitness, with the possibility of an outdoor gym and a social quarter that has the sunken lounge, which is a place for people to meet in the evening, and a bar and dining quarter for guests to entertain family and friends with a capacity of 10 guests.

Due to the numerous higher education institutions in the vicinity, like LaSalle College of The Arts, Nanyang Academy of Fine Arts (Nafa), School of the Arts (Sota) and Singapore Management University (SMU) in close their proximity to Dhoby Ghaut MRT interchange station, Orchard Road malls and the CBD, Gong reckons the population of residents will likely to be students who attend the schools and young executives from abroad who are looking for an ideal address in the Sophia region.

“It’s ideal for people who would like to entertain at home but don’t have the space in their home to host parties,” says Gong. “They are able to entertain their guests on the roof and host celebrations there.”

‘Boutique-hotel feel’
The property has St Margaret’s Primary School nearby and Anglo-Chinese School (Junior) within a one-kilometre distance the at DB2’s Leong isn’t averse to young families with the two or three children of schooling age. “The two and three-bedroom apartments are perfect for families with small children,” he says.

With the mix of units in Orchard Sophia, Leong expects to see interest in buying from both end-users and investors. “Young couples will be drawn to two bedrooms,” he says. “Those who require to study in a space but don’t want give up one bedroom can make use of the family shelter. It can be used as an area for study, pantry, or even a helper’s room.”

Creative Mind Design’s interior designers Creative Mind Design also ensured that the rooms exude a luxurious hotel atmosphere. “We were looking to create a warm and welcoming feeling starting the moment you enter and also as you walk through the pathway,” says the firm’s director of design Alvin Tan. “We combined the palette of materials and colors to blend in with the architectural.”

In keeping with modern interiors, the living area tiles are huge porcelain tiles with a matte finish. The kitchen cabinets come with a built-in storage rack to store condiments and spices. The polished kitchen backsplash as well as the counter constructed from sintered stone was chosen for the kitchen because of its toughness, says Tan and “to give a unique contrast to the floor’s matte finish”.

The developer provides top-quality brands of fittings and appliances, for example, Smeg kitchen appliances, Bosh washer and dryer, as well as Franke kitchen faucets as well as mixers. Bathrooms are outfitted by Gessi bathroom faucets as well as shower set-ups. Hansgrohe Accessories, water closets from Duravit, and Geberit the flush plate.

The showflats in the two-bedroom unit as well as the triple-bedroom dual-key units are designed to provide homeowners with suggestions on how to make work and storage areas, according to Constance Tew, creative director at Creative Mind Design.

Tew discovered DB2 refreshing. “When she first got to know Dennis Leong I was able to hear him talk about the way he wanted Orchard Sophia to be more like the boutique hotel and one that people are happy to call their home,” she relates. “The common boutique developer typically wants to carve out small spaces, make use of inexpensive materials, and then sell their venture quickly.”

The focus is on boutique, freehold projects
DB2 has been involved in the property development industry since Leong created the company in the year 2006. Leong has concentrated on residential freehold projects. Some of his previous developments include the freehold Siglap V comprising 114 apartments on the upper levels and retail units at the top floor. The project is located in District 15’s prime area within the Siglap area It was inaugurated in the year 2010 and was it was completed by 2013. In the Kovan region, DB2 launched the 164-unit freehold, mixed-use project Promenade Pelikat located on Pelikat Road in 2012. The project located in District 19 was completed in 2015.

Boutique developments within prime districts created by DB2 includes the 10-unit Ten Shelford that was first launched in. The freehold development situated on Shelford Road in prime District 11 was completely sold by 2014. The 84-unit freehold Devonshire Residences was established in 2011 and then was sold out. The property is situated at Devonshire Road, it sits in the prestigious District 9 and was completed in the year 2015.

According to Leong the prices for absolute units for Orchard Sophia will start from $1.23 million for a one-bedroom unit to $2.29 millions for three bedrooms apartment. In a psf model the prices will begin at $2,750 per square foot.

“Orchard Sophia is attractive from an psf perspective,” says Ismail Gafoor chief executive officer of PropNex. “Notably it has the new launch of 99-year leasehold suburban properties within the Outside Central Region (OCR) priced between $2,000 and $3,000 psf as well as 99-year leasehold city fringe, or Rest of Central Region (RCR) projects that cost $2,400 to $2,500 per square foot.”

Based on Marcus Chu, CEO of ERA Singapore, the median price of condos purchased in District 9 during 1H2023 was $2877 psf. “With Orchard Sophia starting from $2,750, there is bound to be high interest from homeowners as well as the investors” Chu says.

“With the decreasing price gap among CCR as well as RCR new projects We can expect more sophisticated homebuyers and investors to zero into CCR purchases now,” adds Chu.

The first launch of a new initiative in the CCR in 2023.
The most recent launch of the CCR was in November last year and included the 72-unit freehold Hill House on Institution Road, off River Valley in the District 9 According to Huttons Data Analytics. So far 17 units in Hill House have been sold for an average of $3,003 psf in accordance with caveats that were lodged. Another project that was announced this year included the 38 unit Sophia Regency across the road from Orchard Sophia. The prices of the freehold development began at $2,850 per square foot. At this point there haven’t been any caveats filed for the development.

“Orchard Sophia” will mark the initial CCR project to be launched in 2023.” claims Mark Yip director of Huttons Asia. The development is situated within District 9 which is a five-minute walk from the Dhoby Ghaut MRT interchange.

Yip thinks that the attractive quantum units and dual-key units offered by Orchard Sophia are likely to draw those who are end-users, or investors. “Looking at the mix of units the ideal market for this unit is likely to include families, singles, or investors” Yip says.

Targeting end-user, investor demand
Justin Quek, deputy CEO of OrangeTee is convinced that Orchard Sophia’s distinctive character as a draw for Singaporeans as well as expatriates that like the privacy of “boutique-style condominium living”. “Professionals in the education and creative industries are the most likely targeted market, given the number of arts and international schools located in the area,” he observes.

Quek is also expecting interest from first-time homebuyers, particularly Singaporeans who are looking for the option of moving into as well as renting out the apartment after the project is complete. Orchard Sophia is scheduled for completion by 1Q2027.

As per PropNex’s Gafoor Gafoor, the developers have taken the rivals into account and priced their units accordingly.

Orchard Sophia is previewing on the same weekend (July 29-30) as TMW Maxwell on Tras Street in the Tanjong Pagar neighbourhood.

“There’s very little overlap since the two companies Orchard Sophia and TMW Maxwell have different target markets,” he says. “But investors with budgets between $1.5 million to $2 million have the option of choosing.”

In the seven-unit 774-unit One Pearl Bank by CapitaLand Development Ltd Two penthouses located on the 38th floor were sold during the first month of July. A 2,626 sq ft four-bedroom penthouse was sold at $6.8 million ($2,589 per square foot) Based on an agreement signed on the 8th of July. The buyer’s nationality isn’t known.

The penthouse that is larger at 2,777 square feet, located on the 38th floor was transferred to the Singapore resident at $7.5 million ($2,701 per sq ft) and was based on a caveat issued on July 9.

There are just four penthouses available at One Pearl Bank. They each have four bedrooms and five bathrooms. After the sale of the two penthouses in question there are two others available with dimensions of 2,691 square feet and 2,778 sq feet.

The location of the property is 1 Pearl Bank in the District 3’s city fringe Penthouses and high-rise apartments enjoy endless views across Chinatown as well as Chinatown, the CBD, Outram and Tiong Bahru neighbourhoods.

Altura Bukit Batok West Ave 8 price amounting to $266 million sits on a 12,4449.3 sq m site with a maximum Gross Floor Area (GFA) of 37,348 sq m.

Common units in One Pearl Bank are a mix of studios and one-to four-bedroom units that range between 431 and 1,432 sq feet. One Pearl Bank has two 39-storey towers interlinked by Serie+Multiply which is a joint venture of the London-based Serie Architects and Singapore-based Multiply Architects. The 99-year leasehold condominium is expected to be completed in 2023.

One Pearl Bank is a reconstruction of the earlier Pearl Bank Apartments One of Singapore’s earliest high-rise, high-density apartment towers, when it was finished in June of 1976. The elliptical form of the towers pay homage to the horseshoe design of the old Pearl Bank Apartments.

Since it was launched in July of this year, One Pearl Bank is more than the 96% sold. One Pearl Bank can be found within a 3-minute walk from Outram MRT Station. Outram MRT exchange station, which serves 3 lines (East-West, Northeast and Thomson-East Coast Lines).

The majority of units sold in the last month were high-floor units. Three units sold included 700 square feet of two-bedders located on the 33rd to 36th floors. The prices for these units ranged between $2.038 million ($2,913 per square foot) up to $2.048 million ($2,927 per sq ft).

Three units that were sold in the month of March included three bedders ranging from 1,152 to 1,281 square feet between the 30th and 35th floors. They were offered at rates ranging between $3.12 million ($2,709 per sq ft) and $3.388 million ($2,645 per sq ft). A 1,399 sq ft four-bedder located on the 20th floor was purchased at $3.68 million ($2,630 per sq ft).

In the week of July 8-9 598 unit Lentor Hills Residences reported the sale of 298 units (about 50%). Hong Leong Holdings is the joint developer of Lentor Hills Residences, along with listed property developer GuocoLand and TID (a joint partnership that is a joint venture between Hong Leong and Mitsui Fudosan).

Based on Hong Leong prices began at $1,834 psf and an average of $2,080 per square foot. One-bedroom units start at $945,000, while two-bedders start at $1.36 million. Three-bedders cost more than $1.82 million, and four-bedders begin at $2.53 million. Dual-key units begin from $2.64 million.

The median price for Lentor Hills Residences is in line with the median of the 600-unit Lentor Modern connected development, which was announced by GuocoLand in September. Lentor Modern is already 90% sold at an average of $2,102 per square foot.

Altura location map situated at the heart of Bukit Batok Town and sits on a 12,4449.3 sq m site with a maximum Gross Floor Area (GFA) of 37,348 sq m.

“A 50% occupancy rate during the very first weekend of its the launch is an impressive achievement,” says Ismail Gafoor director of PropNex. “The pricing of Lentor Hills Residenceswhich is on par with Lentor Modern -offered buyers the opportunity to buy value.”

Gafoor says that Lentor Hills Residences profited from the increase in demand that followed the debut of Lentor Modern last year. “Those who did not get the smaller units of Lentor Modern had the opportunity to purchase one- and two-bedroom apartments located at Lentor Hills Residences,” Gafoor adds.

Of the 35 one-bedroom apartments of 452-538 sq ft in the Lentor Hills Residences, over 94% were snapped up during the weekend as per property agents. And close to 70% of the 39 one-bedroom-plus-study units of 570 to 638 sq ft were snapped up.

The two-bedroom (108 units) and two-bedroom-plus-study (111 units) take-up was 73% and 65.8%, respectively. Two-bedroom units range in size from 678 to 721 sq ft, and two-bedroom-plus-study are from 743 to 775 sq ft.

The bigger units consist of four and three-bedders. On the weekend, nearly 40% of the 88 three-bedroom units (958 up to 980 square feet) units were bought. Of the 101 units of three-bedroom-plus-yard (1,098 to 1,130 sq ft), close to 27% were spoken for. Around 14% of 100 four-bedroom homes (1,349 or 1,399 sq feet) were filled in the last 38% of the 16 units with dual keys of 1,302 to 1,399 square feet were bought.

“The more spacious units were offered mostly to people seeking to move out of older developments within the area,” says Mark Yip Huttons Asia’s CEO. Huttons Asia. He says that the dual-key units were very popular with investors and families with multiple generations as they’re rarely sold in the recent launches of new projects.

Lentor Hills Residences lies located on an 184,461 square foot 99-year leasehold site located in the new Lentor Hills estate which is a growing area that will be positioned as a pedestrian-friendly and sustainable neighborhood with new parks as well as smooth cycling and walking paths. Lentor Hills Residences is also located near nature trails such as Lower Peirce Reservoir, Bishan-Ang Mo Kio Park Windsor Nature Park, and Thomson Nature Park.

The project features a protected roadway that leads leading to Lentor MRT station. Lentor MRT station and is due to be completed by the month of December 2026. “The positive response to the project is due to our central area,” says Betsy Chng the director of marketing and sales for Hong Leong Holdings. “Our clients enjoy the nearby nature parks and the nearby MRT while remaining in close proximity to families in nearby townships that are mature such as Upper Thomson, Ang Mo Kio, Bishan and Yishun.”

According to Chng the layouts that function of the units as well as the amenities offered were an incentive.

“The majority of the unit types that were viewed by buyers at Lentor Contemporary and Lentor Hills Homes were around the $2.5 million in the $2.5 million price range,” says Marcus Chu the chief executive officer of ERA Singapore. “That is the ideal price for buyers who are looking to buy a suburban home.”

The proximity to famous primary schools, like CHIJ St Nicholas Girls’ School and Anderson Primary School, was another draw for families with young children Chu adds. Chu.