reporter2
12-12-13, 18:02
http://www.straitstimes.com/archive/saturday/premium/money/story/sea-change-coming-tanjong-pagar-20131207
HOT SPOT
Sea change coming to Tanjong Pagar
Set to become live-work-play hub as Southern Waterfront takes shape
Published on Dec 07, 2013
By Cheryl Ong
FRESH efforts to market SkySuites @ Anson by Allgreen Properties could crank up interest in homes in Tanjong Pagar, long seen as an integral part of Singapore's central business district.
The 360-unit project, in Enggor Street, is being officially "launched" today, although about 200 units have been sold since marketing started a year ago.
The area is undergoing a significant change with numerous projects springing up.
It is expected to see more than 4,600 new homes by 2015, property consultancy Knight Frank estimated.
Another 18,000 homes will be added after the City Terminals and Pasir Panjang Terminals are moved to Tuas in 2027, which will free up about 1,000ha of land for the upcoming Southern Waterfront City. Tanjong Pagar will end up twice the size of Marina Bay, Knight Frank said.
"Tanjong Pagar stands at the edge of the old central business district and oozes with growth potential in view of future developments slated for the Southern Waterfront area," said Knight Frank executive director Tan Tee Khoon.
Another project that recently joined the slew of new developments in the area was GuocoLand's 181-unit Clermont Residence, launched two weeks ago.
At 290m, it is likely to be Singapore's tallest residential project once it is completed in 2016. The project boasts a 21,000 sq ft "super penthouse" with an indicative price of about $30 million.
Other units range from 614 sq ft one-bedders to 2,034 sq ft four-bedroom units. There are also penthouses of 3,509 sq ft.
So far, marketing of units at SkySuites @ Anson has involved sales to buyers through private invites only, said Mr Eugene Lim, Knight Frank's associate director of residential services.
More than 196 units have been sold to date, based on caveats lodged with the Urban Redevelopment Authority (URA), noted R'ST Research director Ong Kah Seng.
The 72-storey development has 360 units in total, consisting of one-, two- and three-bedroom units that range in size from 365 sq ft to 1,140 sq ft.
A one-bedder costs $2,650 per sq ft (psf) on average, while a two-bedder starts from $2,200 psf and three-bedders from $2,500 psf, said Mr Lim.
Over at Onze @ Tanjong Pagar, its developer Heeton Holdings has moved 15 of its 56 units since the project was launched in September. According to the latest URA data, units were sold for a median price of $2,515 psf in October, said Mr Ong.
Those looking for a property in Tanjong Pagar should have a longer investment horizon as the increasing number of completed units will lead to stronger leasing competition, Mr Ong noted.
"Tenants are already decentralising (farther out) to the city fringes and even suburban locations."
[email protected]
HOT SPOT
Sea change coming to Tanjong Pagar
Set to become live-work-play hub as Southern Waterfront takes shape
Published on Dec 07, 2013
By Cheryl Ong
FRESH efforts to market SkySuites @ Anson by Allgreen Properties could crank up interest in homes in Tanjong Pagar, long seen as an integral part of Singapore's central business district.
The 360-unit project, in Enggor Street, is being officially "launched" today, although about 200 units have been sold since marketing started a year ago.
The area is undergoing a significant change with numerous projects springing up.
It is expected to see more than 4,600 new homes by 2015, property consultancy Knight Frank estimated.
Another 18,000 homes will be added after the City Terminals and Pasir Panjang Terminals are moved to Tuas in 2027, which will free up about 1,000ha of land for the upcoming Southern Waterfront City. Tanjong Pagar will end up twice the size of Marina Bay, Knight Frank said.
"Tanjong Pagar stands at the edge of the old central business district and oozes with growth potential in view of future developments slated for the Southern Waterfront area," said Knight Frank executive director Tan Tee Khoon.
Another project that recently joined the slew of new developments in the area was GuocoLand's 181-unit Clermont Residence, launched two weeks ago.
At 290m, it is likely to be Singapore's tallest residential project once it is completed in 2016. The project boasts a 21,000 sq ft "super penthouse" with an indicative price of about $30 million.
Other units range from 614 sq ft one-bedders to 2,034 sq ft four-bedroom units. There are also penthouses of 3,509 sq ft.
So far, marketing of units at SkySuites @ Anson has involved sales to buyers through private invites only, said Mr Eugene Lim, Knight Frank's associate director of residential services.
More than 196 units have been sold to date, based on caveats lodged with the Urban Redevelopment Authority (URA), noted R'ST Research director Ong Kah Seng.
The 72-storey development has 360 units in total, consisting of one-, two- and three-bedroom units that range in size from 365 sq ft to 1,140 sq ft.
A one-bedder costs $2,650 per sq ft (psf) on average, while a two-bedder starts from $2,200 psf and three-bedders from $2,500 psf, said Mr Lim.
Over at Onze @ Tanjong Pagar, its developer Heeton Holdings has moved 15 of its 56 units since the project was launched in September. According to the latest URA data, units were sold for a median price of $2,515 psf in October, said Mr Ong.
Those looking for a property in Tanjong Pagar should have a longer investment horizon as the increasing number of completed units will lead to stronger leasing competition, Mr Ong noted.
"Tenants are already decentralising (farther out) to the city fringes and even suburban locations."
[email protected]