If you want to experience the world class lifestyle of the north eastern suburbs of Singapore, then this one’s for you. Very soon, a new executive condominium project will be able to offer nearly 700 housing units for home buyers on Anchorvale Lane.
In the third quarter of last year, the Housing and Development Board (HDB) auctioned a new land parcel located on the Anchorvale Lane. This land parcel is right next to Sungei Punggol reservoir. It lies beside the Punggol Park Connector. It is flanked on either side by Sengkang West Avenue and Sengkang East Avenue.
The site generated a lot of buzz and had attracted a whopping 16 bidders. This is the highest number for any land parcel in Singapore in the past 4 years.
The land parcel was purchased by a consortium of developers comprising Hoi Hup Realty and Sunway Developments. They quoted the top bid of SGD240.95 million, and intend to develop as many as 635 residential apartments. It is a 99-year leasehold development project.
Anchorvale Lane EC boasts of a Gross Floor Area of 678,598 square feet and a site area of 226,000 square feet. This puts the price of the land parcel at SGD355 per square feet. Once you include the additional costs like construction cost, amenities cost, and miscellaneous costs, the Anchorvale Lane EC project will break-even only if it is able to sell its units in the range of above SGD700 psf. As such, the target price is expected to be about SGD760 psf. However, the developers have not yet released any information regarding the pricing or layout of the project. Both of them will soon be made available for potential buyers, considering the fact that the project will be available for occupancy by as early as 2020.
Preliminary information indicates that there will be a total of ten towers, each with 15 storeys. The project will offer 2, 3, 4, and 5-bedroom units for sale.
If you wish to own an upscale condo in one of the most sought after locations in all of Singapore, then book your visit to Anchorvale Lane EC today.