Higher than analyst prediction of btw $650 to $750 psf ppr...
land price in term of psf not much different from Venue, but i feel developers slightly more desperate to replenish their land bank rather than optimistic.
Venue Residences not moving (25% sold Jul), likewise for other areas due to many rounds of CMs.
So price btw $1200-$1400psf.
The project developer is in engineering (as evidence in Universal studio ) and landscaping (did few condo project with major landscaping themes) so that design of a mix development at P P MRT will be an eye-opener with greenery landscaping. It is never a mall operator so it will be interesting to see how it design a commercial development. Interesting thing is how it will incorporate a walk-thru (the CSM walk tru) as a feature , a requirement of the mix-development.
There is always the possibility that since this is their first mixed used project in Singapore at least, they might spare no effort, give up some profits and make it a success.
The difference between Fraser's bid and the top bid by MCC probably represented the premium / value associated with the individual strata - titled commercial units since Fraser is less likely to sell off as individual strata units.
But if they could bid $1,000+ for Yishun, they could not bid even $800 for this one.
Many surburb nodes (such as Yishun central) are growing synergistically due to high human presence but fast traffic flow at most times, and have immediate subscribers. Newer central nodes such as this one takes time to grow the commercial segment due to lower human presence but slow traffic flow except during off-peak times. My opinions only.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
No news from developer?
Not to worry. This MCC Land (Singapore) Pte Ltd, is the property unit of China Metallurgical Group Corp (MCC), China’s first state-owned property company to expand overseas. They have already launch their projects in Singapore, The Canopy Executive Condominium and One Canberra. China's State-Owned Enterprise (SOE) like our GLC and Temasek-linked companies have lot of financial powers. They sure will want to do good here. I think they will surprise many with their design n development plan !
This MCC land no sight, no sound, no news , road run already or what ? It seems like they have yet to take over the plot ..Is the company under CCCP review ? .
Saw the people working on the ground, I tink by June they MCC land will start the launch of the project! Heating up!