Parc Clemantis

[Newlaunch99]

LITTLE HISTORY ABOUT THE ACQUISITION OF PARC CLEMATIS CONDO FORMERLY KNOWN AS PARK WEST
Parc Clematis Condo broke the west enbloc record to become one of the highest property sold in a collective sale following its acquisition by SingHaiyi Group. It sits on a plot with a size of about 633, 644 square feet, translating to a plot ratio of 2.1. Parc Clematis Singhaiy is strategically located at Jalan Lempeng next to Clementi MRT Station.

Its sale follows two failed attempts in the past in 2007 and 2011 respectively. In joint ownership between SingHaiyi and its wholly owned subsidiary Jaiyi Wealth, the two companies will share the ownership of Clematis Condo which is worth $840.9 million. With the inclusion of other expenses to be incurred such as lease upgrading the total cost of the land will sum to around $850 psf ppr.

SingHaiyi Holdings is managed by the famous couples, Gordon Tang and Celine Tang. They are the primary decision makers in charge of the two companies.

According to a real estate marketing agent in Singapore, Huttons Asia, Parc Clematis Condo will be a new development that could yield approximately 1.33 million square foot of gross floor space upon completion. The regular shape of the parcel is beneficial in such an area with unlimited access to development opportunities.

Parc Clematis condo location, a west condo, is also well situated a few distances away from One North R&D Park and the famous CBD at Jurong Lake. The demand for properties in the area is expected to rise due to the increase in population and the growing economy. Apart from making transportation in the area easy, the upcoming Singapore-KL High-Speed Rail will boost the value of properties in the surrounding areas such as the Clematis Condo.

Other upcoming property type such as the Clementi Canopy and The Trilinq are also set to add more traffic to this developed neighborhood. Acquisition of the land presents SingHaiyi with an opportunity to developed excellent housing units in a famous residential area.

Former Park West features 432 residential units and four shops with lease balances of about 63 years. The developers plan to top up the lease period to 99 years and redeveloped the site to be named as Parc Clematis, and to house between 1,200 and 1, 700 units with various sizes ranging from 750 – 1100 sq ft.

For More info visit https://www.parc-clematis.com.sg/

[bargain hunter]

According to Singhaiyi:

The Group targets to complete the enbloc acquisition of Parc Clematis (f.k.a. Park West) by the
first quarter of 2019. The Group expects to launch Parc Clematis, a 99 years leasehold residential
project located near Clementi MRT station and One-North R&D Park, in the mid-2019. Parc
Clematis will offer 1,468 quality condominium units with co-living and communal facilities, to cater
to homebuyers’ diverse needs.

[bargain hunter]

The former Park West, to be named Parc Clematis, will be launched later in the third quarter.

Developer SingHaiyi is planning what it calls a "co-living" concept, featuring shared facilities like a common kitchen and thematic dining rooms for the 1,468-unit development.

The idea is that with such common amenities, space can be freed up from some of the units. For example, the one- and two-bedroom units may come with just a microwave rather than an oven, with the freed-up space going to uses such as storage. This would "optimise your money more", developer SingHaiyi's deputy chief executive and chief financial officer told BT in January.

He pointed to lifestyle changes as another reason, as people eat out more and cook less at home.

SingHaiyi also plans to have activities like cooking classes in the shared kitchens.