2H2022 Upcoming New Launch Condos to Look Out For
What’s up guys, it’s Jim Tay, and today im back with my latest biannual video to talk about the upcoming new launches to look out for in 2nd half of 2022.
As usual, I’ll be giving a brief summary of the project, a positive highlight, as well as something you might want to pay extra attention to. I’ll also touch on their breakeven pricing and include my estimation of the potential selling price.
Before we dive in, a disclaimer: I am a licensed Real Estate Agent in Singapore and I can represent you to purchase any of the properties mentioned, and earn a commission.
Do get in touch if you like my work and want to support me. I’ll be very grateful.
Contact forms for each of the projects in the article below. 😊
From my previous edition of the New Launch Condos for 1H2022, I have significant ones at Ang Mo Kio Ave 1 and Tanah Merah Kechil link covered again with updated information.
Note that for most of these projects, there hasn’t been much information released yet, so I’m basing my comments from already known facts.
The New Launches I cover in this edition are as follows:
- Cape Royale
- Amo Residence (Update from Ang Mo Kio Ave 1)
- Lentor Modern
- Sceneca Residences (Update from Tanah Merah Kechil Link)
- Sky Eden
- AXA Tower
- Tengah EC
- Jalan Anak Bukit GLS by Far East
- Slim Barracks A & B
Keep Reading!
1. Cape Royale
First up, the launch of a truly rare development, Cape Royale.
This is one of Singapore’s few sea fronting projects.
Located at Cove Way, in Sentosa, Cape Royale sits right in front of the South China Sea.
Cape Royale Key Project Details
Project Name | Cape Royale |
Developer | Ho Bee Land |
District | 4 |
TOP | 2013 |
Total Number Of Units | 302 |
Tenure | 99 years |
Unit Types | Residential |
Pricing Range | From 3.5X – 5.X million , for 3 or 4 bedroom types |
Facilities | Condo facilities including swimming pool, BBQ pits, gym, function rooms etc. |
The project, by Ho Bee Land, was actually completed in 2013, but has been held by the developer for rental, and units are only being launched for sale now.
The preview has begun, and I was in fact there with some clients a few days ago.
Check out the magnificent views of the South China Sea.
Definitely one of the top selling points of the development.
There is a launch promotion where developers are giving an 8% discount off the list prices.
After this discount, prices start from as low as 2000+ psf.
This is less than the average launch prices of other recently launched properties on the mainland.
If you’re interested, hurry, because the sales will commence from Tuesday, 5th July.
Just make sure you pay attention to the 99y lease commencement date.
<<<<Brochures, Floor Plans and Pricing Released>>
2. AMO Residence
Next, AMO Residence, or ‘Ang Mo Kio Ave 1’, as I labelled it in my last video.
Finally, this highly anticipated development is confirmed to open it’s doors for public preview from the 9th of July.
I just attended the architect briefing and early agent preview.
As expected, the site would be positioned to maximise panoramic views towards the landed houses and across Lower Pierce Reservoir.
Being within 1km to 2 popular primary instituitions Ai Tong School and CHIJ Saint Nicholas Girls’ School is definitely a huge draw.
Amo Residence Key Project Details
Project Name | AMO Residence |
Developer | United Venture Development (2021) Pte. Ltd. (JV By UOL Group Limited, Singapore Land Group, Kheng Leong Company) |
District | 20 |
Estimated TOP | Dec 2026 |
Total Number Of Units | 372 |
Tenure | 99 years commencing from 30 August 2021 |
Site Area | 12,679.4 sqm |
Pricing Range | TBD |
Facilities | Full Condo facilities including swimming pool, BBQ pits, tennis court, gym, function rooms etc. |
AMO Residence Break Even Price
No change to the previous figure, still $1,822 psf ppr.
However I want to raise my expectation for the launch pricing.
Hot off the heels of successful launches at Piccadilly Grand and LIV@MB which averaged $2,150 psf and $2,387 respectively…
I’d expect AMO Residence to average about $2200+ per square feet as the developer seeks to continue riding the wave in a buoyant property market.
Buyers may want to pay extra attention to Lentor Modern which is launching earlier than expected.
Guocoland is planning something really special for the area and buyers may want to learn more before deciding which project is their preferred choice.
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3. Lentor Modern
Of course, next on this list is the earlier mentioned Lentor Modern.
The first launch of 2 plots owned by the same developer.
With 2 more surrounding plots open for tender now, and another 2 estimated to be available in Oct-22.
Including the other empty residential land plots, there is a potential total of 11 new projects upcoming.
Of which, Lentor Modern is the only unique mixed site.
Word on the street is Guocoland is also eyeing winning bids for the other land plots.
As one of Singapore’s most renowned developers with a strong track record of integrated developments, it is definitely an exciting future for Lentor residents.
Lentor Modern Key Project Details
Project Name | Lentor Modern （曲水伦庭） |
Developer | GuocoLand Limited |
Project Description | Proposed Residential Development Comprising – 3 blocks of 25-storey apartments (with sky terrace in each tower) with carpark and communal facilities – Approx. more than 96,000sqft of shopping mall space with wide selection of retail & F&B options including; approx. 10,000sqft childcare facilities (expected to accommodate 200 children including infants) & approx. 10,000sqft supermarket |
District | 26 |
Estimated TOP | TBA (URA Expected TOP in 2026) |
Total Number Of Units | 605 Residential Units |
Tenure | 99 years from 29th July 2021 |
Site Area | 17,279.9sqm / 185,999sqft |
Pricing Range | TBD |
MRT Station(s) | Direct Underground Linkway to Lentor MRT Station (TE5) Thomson-East Coast Line |
Facilities | Condo facilities including swimming pool, BBQ pits, gym, function rooms etc. |
Lentor Modern Break Even Price
No surprises for being an Integrated Project, Lentor Modern has a higher expected Breakeven than AMO Residence.
Consequently, I will expect it to sell at average prices of $23xx – $24xx psf.
Buyers for own stay may want to watch out for construction disturbances which may last even beyond the completion of Lentor Modern.
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4. Sceneca Residence
Another project that I expected to launch in 1H2022, Tanah Merah Kechil Link, is only launching in the 2nd half of the year.
Known as Sceneca Residence, it is, like Lentor Modern, going to be the only mixed development in the area.
Sceneca Residence Key Project Details
Project Name | Sceneca Residence |
Developer | MCC Land (Singapore) Pte Ltd |
Project Description | Proposed residential flats development comprising 2 blocks of 14/15-storey apartments (Total: 268 units) with carpark and communal facilities and commercial at 1st storey with basement at MK27 on Lot 1120N at New – Upper Changi Road/Tanah Merah Kechil Link |
District | 16 |
Estimated TOP | 2026 |
Total Number Of Units | 268 |
Tenure | 99 years |
Site Area | 8,8880 Sqm |
Pricing Range | TBD |
MRT Station(s) | Directly Connected to Tanah Merah MRT |
Facilities | Condo facilities including swimming pool, BBQ pits, gym, function rooms etc. |
Sceneca Residence Break Even Price
$1,583 psf ppr estimated breakeven.
That’s what’s exciting.
If the project stays to my estimates last article and launches at an S$1,850 – S$1,900 psf average selling price, I would consider it attractive among comparative new launches today.
What worries me is that developers could also price above $2,000 per square feet as it seems to be an acceptable norm for launches these days.
What would you pay for the 1st Project Launch and the only Integrated Development in Tanah Merah in 5 years?
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5. Sky Eden
At number 5, Bedok, a predominantly public housing estate will welcome only its second residential project, a mixed development, Sky Eden.
It is by Frasers Property who decided to redevelop the former Bedok Point.
With Bedok Residences the only development that was launched more than 10 years ago, Bedok Point provides much needed new supply to the area.
Sky Eden Key Project Details
Project Name | Sky Eden |
Developer | Frasers Property |
Property Type | Mixed Development with Commercial units on the Ground Floor |
District | 16 |
Estimated TOP | TBD |
Total Number Of Units | 158 + Commercial for Sale |
Tenure | 99 years |
Site Area | 1,558.67 sqm / 16,778 sqft (Source URA) |
Pricing Range | TBD |
MRT Station(s) | 4-5 mins to Bedok MRT Station |
Facilities | Condo facilities including swimming pool, BBQ pits, gym, function rooms etc. |
Sky Eden Break Even Price
Being a redevelopment by the owner, there is no relevant data on the land cost and breakeven pricing.
Most likely developer will take a wait and see approach on the performance of Sceneca Residence before deciding on how much to launch at.
Are you a property owner of residential property and want to avoid paying ABSD?
Pay attention because commercial units at Sky Eden will likely be for sale.
Hopefully, this transformation will be a good turn around for the former commercial site which was said to have “poor footfall”.
SKY EDEN
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6. Former AXA Tower
Remember I spoke about Marina View last time?
Now, I want to talk more about AXA Tower.
A redevelopment of 1 of Singapore’s most Iconic Office Buildings, this will likely be the first residential launch since URA announced its CBD incentive scheme.
This means a potential first-mover advantage as improvements continue to be made to the surrounding environment.
Former AXA Tower Key Project Details
Project Name | TBD (Former AXA Tower) |
Developer | Perennial Holdings, Alibaba Group (SG), Gordon Tang |
District | 1 |
TOP Date | TBA |
Total Number Of Units | 268 |
Tenure | 99 years |
Site Area | 118,230 sqft |
Unit Types | Residential + Commercial |
Pricing Range | TBA |
Facilities | Mix-used facilities including swimming pool, BBQ pits, gym, function rooms, retail outlets etc. |
MRT Station(s) | Directly linked underground to Tanjong Pagar MRT Station |
AXA Tower Break Even Price
Like Sky Eden, the former AXA Tower will be an enhancement by current owner Perennial Holdings.
Hence, no published break even price.
Interesting facts: Alibaba Group through its Singapore subsidiary is a 50% co-owner of the property.
And, more recently too, mysterious Chinese investor Gordon Tang also purchased a 21% stake from a group held by Perennial Holdings.
How will this dynamic partnership stamps their marks on the property is definitely something I’m paying close attention to.
It’s one of the projects I’m most excited about for the next half of the year, so I have another full article on it.
Former AXA Tower
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7. Tengah Garden Walk Executive Condo
Another hot one at no. 7.
The 1st Executive Condo in the newest upcoming HDB town at Tengah.
This highly anticipated launch is also the first EC in the West Region in 5 years.
Pent up demand is really high here as many condominiums in the west are fully sold, leaving Tengah EC as the only NEW condo option on the market.
Its perfect for upgraders as there’s no Additional Buyer’s Stamp Duty payable upfront even if you do not sell your property beforehand.
Tengah Garden Walk EC Key Project Details
Project Name | Tengah Garden Walk EC |
Developer | CDL and MCL Land |
District | D24 – Tengah / Kranji / Lim Chu Kang |
Estimated TOP Date | 2026 |
Total Number Of Units | 615 (3 to 5 bedrooms) |
Tenure | 99 years |
Site Area | 22,000 Sqm/ 236,808 Sqft |
Pricing Range | TBA |
Facilities | Full Condo facilities including swimming pool, BBQ pits, tennis court, gym, function rooms etc. |
MRT Station(s) | Tengah MRT Station, Jurong Regional Line |
Tengah Garden Walk EC Break Even Price
Referencing North Gaia (the last EC launch), with a breakeven price of $1,025 psf ppr, it launched at an average price of $1,302 psf.
At Tengah Garden Walk, with an estimated breakeven of $1,059 psf, I’d expect the EC to also average in excess of $1,300 psf.
Furthermore, this is a very viable area for upgraders from the recent MOP clusters at Bukit Batok, Choa Chu Kang, and Clementi, where resale flat prices are very strong.
As this is part of a new town, I’d really pay attention to how the project integrates with its surroundings and its unique value for the future resale potential.
I’ll make sure to go in at launch as it’s almost guaranteed to be a highly sought after project.
Tengah Garden Walk EC
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8. Jalan Anak Bukit GLS by Far East
Next up at no.8, is the large 3.22 hectare site right at the heart of the Beauty World transformation.
Jalan Anak Bukit GLS Key Project Details
Project Name | Jalan Anak Bukit Residences (TBD) |
Project Description | Located at the foothills of the Bukit Timah Nature Reserve, the development is thoughtfully curated and features a dynamic blend of residential, retail, serviced residences, community and public spaces; a well-integrated urban community node in Jalan Anak Bukit that will contribute to the vibrancy of the existing precinct. |
Developer | Far East and Sino Group |
District | D21 |
Estimated TOP Date | TBD |
Total Number Of Units | 845 estimated |
Tenure | 99 years |
Site Area | 32,185.04 sqm / 346,440 sqft |
Pricing Range | TBA |
Facilities | Condo facilities including swimming pool, BBQ pits, tennis court, gym, function rooms etc. |
MRT Station(s) | King Albert Park and Beauty World Downtown Line Stations |
I recall back when the tender results were announced in August 2021, there was some disappointment at the results, with analysts deeming it as below expectations.
Jalan Anak Bukit GLS Break Even Price
At a land cost of $1,028 psf ppr,it works out to an estimated breakeven of $1,658 psf ppr.
If you compare this figure to the plot at Sceneca Square which is a $1,583, it seems really attractive.
YES, but for the developer….
Which, is a joint consortium comprising of Far East Organization and Sino Group.
When you see names like that, we cannot expect cheap prices.
With nearby leasehold Mayfair collection transacting at around $2,100 psf on average, I’d expect this mega integrated project to command a 10-15% premium and average about $2,300 – $2,400 psf.
I’m definitely paying attention to the development plans for this unique project which prioritised concept proposals over price.
Jln Anak Bukit Integrated Project
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9. 2x Slim Barracks Condo
Last on this list we have Slim Barracks Parcel A and B.
The buona vista and one north areas are among Singapore’s top investment hot spots for it’s potential high capital gains and strong rental demand.
The last launch, One North Eden, which was only about a year and a half ago, sold out 85% of it’s units on day 1.
Today, it’s fully sold and we can’t wait to have more Real Estate in this area as government quickly followed up with 2 more plots at Parcel A and B.
Slim Barracks Condo Break Even Price
Testament to the high growth potential of the area, these land plots, a year apart from the One North Eden site, had a 20% higher land bid price.
I’d expect them to sell also about 20% higher than One North Eden which averaged about $2,000 psf at launch.
Meaning, $2,300 – $2,400 psf for these new sites.
A positive highlight for buyers who couldn’t get any bites of the cherry previously, is that you now have 2 more chances.
I’d pay attention to the design concept and layouts of these projects.
I think One North Eden did well in those aspects despite limitations of a small land plot.
If they can nail that right, the same success can definitely be replicated.
Slim Barracks Condos
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So that’s it for my round up of the project launches to look out for in 2nd half of 2022.
Which project excites you the most?
Leave a Reply, and let me know why.
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