Parktown Residence is a massive project in Tampines developed by UOL, SingLand, and C

Parktown Residence is a massive project in Tampines developed by UOL, SingLand, and CapitaLand; prices start at S$1.07 million

The 1,193-unit condominium is a component of the regional hub's integrated development.

February 6, 2025

CONDOsingapore.com

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Previews of UOL, Singapore Land (SingLand), and CapitaLand Development's Tampines project, Parktown Residence, will begin on Friday, February 7. Prices range from S$2,100 to S$2,300 per square foot (psf).

There will be 1,193 units spread across 12 blocks in this 99-year leasehold development on Tampines Avenue 11. Eight blocks of eleven stories, two blocks of twelve stories, and two blocks of six or seven stories will all be present.

Two-bedroom apartments with 592 to 764 square feet (S$2,246 psf) start at S$1.33 million, while one-bedroom units (plus study) with 463 to 506 square feet (sq ft) start at S$1.07 million, or S$2,311 psf. Three-bedroom apartments start at S$2.07 million (S$2,235 per square foot) and range in size from 926 to 1,184 square feet. Apartments with four bedrooms range in size from 1,335 to 1,496 square feet, and they start at S$2.85 million (S$2,134 per square foot).

The largest units are the 1,679-square-foot five-bedroom units, which start at S$3.78 million, or S$2,251 per square foot.

The approximately 550,000 square foot site was purchased in July 2023 for a bid exceeding the $1.21 billion mark in a state tender, which valued the land at S$885 per square foot per plot ratio.

The project is a 50/50 joint venture between CapitaLand Development and UOL-SingLand.

"Timely" introduction

Parktown Residence, which is situated in District 18, will have direct access to a bus interchange and the future Tampines North MRT station on the Cross Island line. A community club, a hawker centre, and retail and food and beverage establishments will all be connected to the development.

"Parktown Residence's launch is timely, aligning with Singapore's strong economic rebound in late 2024, which saw growth of 4%," stated Anson Lim, general manager for residential marketing at UOL.

Parktown Residence's early launch capitalises on this momentum as we expect this year's recovery to continue, bolstered by rising household incomes and stable economic conditions.

Singapore's largest condominium, the 2,203-unit Treasure at Tampines, which was built by Sim Lian, was the last private residential development to be introduced in Tampines.

At an average price of S$1,280 per square foot, it sold 272 units during its first weekend of sale in March 2019.

The resale value of Treasure's units in January 2025 was between S$1,600 and S$1,830 per square foot.

According to data from URA's Realis, the median price of units sold in the Tampines planning area over the previous six months was S$1,510 per square foot.

Parktown Residence is anticipated to be finished by June 2030, and sales will begin on February 22.

In addition to Parktown Residence, Tampines Street 94 will see the construction of another mixed-use project.

In September 2024, a joint venture between Hoi Hup Realty and Sunway Developments defeated five other bidders to win the plot.