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SGPropertySales
07-10-18, 14:43
Mattar Residences (https://www.propertysales.sg/mattar-residences/) is sitting on a land parcel that was recently released by URA. It is a new residential development, offering a 99-year leasehold tenure. The nearest MRT Station, Mattar Station, is only minutes’ walk away. This condo will house about 255 units of 1 to 4 bedroom units and the units here will enjoy an array of recreational facilities like a 50-meter lap pool, tennis court, a full-equipped gym and many more.
Don’t miss! Find out more now. Register your interest now to view the showflat and claim your early bird discount!
For more new property launches, please visit Singapore Property (https://www.propertysales.sg/)
https://www.propertysales.sg/wp-content/uploads/2018/10/Mattar-Residences-Land-Parcel.jpg

Arcachon
08-10-18, 20:38
It is a new residential development.

In a very very old estate where all the primary school and secondary school all closed shop.

Arcachon
21-02-20, 21:25
Mattar Residences is called The Antares @ Mattar Road D14 RCR

Associated company recently won prized GLS site tender
In May, the group announced that its 20% owned associated company FSKH
Development Pte. Ltd beat nine other bidders to win the tender for a residential site
at Mattar Road at a tender price of S$223.02m (S$1,108.5 psf). The other
shareholders of FSKH Development are Hock Lian Seng Holdings Limited (45%)
and Keong Hong Holdings Limited (35%).
Serviced by Downtown Line with access to Circle, East-West and Northeast
Lines within four stops. This site is interesting as it is located within 100m of one
of the entrances to the Mattar MRT station. From Mattar MRT station, the Telok
Ayer and Downtown stations are six to seven stops away on the less congested
Downtown Line. Commuters can access the Circle Line by interchanging at
MacPherson station, which is one stop away. From the Circle Line, the East-West
Line and the Northeast Line are accessible within three stops from MacPherson.
A primary school, simple food and groceries shopping within 500m. The site
is bordered by two churches to the North and West. The Home United Football
Club is located to its South, with Mattar Station in the East. A small landed and
private residence enclave and the Canossa Convent Primary School separates the
site from Aljunied Road where two petrol stations are located within 300m West
from the site. To the East, other amenities can be accessed via a 500m walk along
Merpati Road to Circuit Road, where the Circuit Road Food Centre and
shophouses are located. The key disadvantage of this site is that there is no major
shopping mall in the vicinity. The nearest mall is probably NEX at Serangoon.

Few new launches within one km radius. For comparison, we referred to
transactions at Sims Urban Oasis (expected TOP in 2019), Le Crescendo
(completed in 2006) and Sennett Estate (completed in 1996). We could not find
any other non-landed private residential property transactions within the vicinity of
the site. Transactions at Sims Urban Oasis suggests that prices have picked up
from about S$1,300 to S$1,400 per sq. ft. (psf) in 2015 to S$1,500 or higher in
2017. In June 2018, four units were transacted at prices ranging from S$1,573 psf
for a 1,066 sq. ft. unit to S$1,702 for a 441 sq. ft. unit. Both the Mattar Road site
and Sims Urban Oasis are on 99-year leases.
For TA Corp, project to yield S$2m – S$3.7m of net development profit before
construction contract opportunities. Assuming average selling prices of
S$1,600 to S$1,650 psf, we estimate a gross development value of S$322m to
S$332m for the project. After deducting for estimated construction and finance
costs, we expect this project to yield S$9.94m to S$18.56m of net development
profit. TA Corp’s share of this project’s profit will be equivalent to about S$1.99m
to S$3.71m, excluding contribution from any construction contract awarded.
In a nutshell, we see the Mattar Road site as a highly sought location that will likely
sell well at its launch. Being an executive condominium project, buyers will likely
be first time home owners or upgraders, rather than investors. Hence, the July
property cooling measures on this project will likely have a lower impact on this
project as compared to other private condominium properties. Projects like this also
extend earnings visibility to FY2020 – FY2022.
https://www.nracapital.com/sgxmas/ta%20021018.pdf