Kampong Java Bid at Newton MRT Station

Last January, Chip Eng Seng put in a tremendous bid for the Kampong Java land parcel in Singapore. At first glance, this would seem counterintuitive. However, this land has tremendous potential, and Chip Eng Seng realizes it. This is an important step for Chip Eng Seng’s property development interests. Here are some details regarding this important acquisition.

Tender for Kampong Java Bid Closed

The first part of this process was to open up the site for tendered bids. There is no question that this 125,000 would receive a lot of interest. They not only received seven bids, but the top bid of $418.8 million came from Chip Eng Seng Corporation unit CELH Development. They beat out the second-highest bid, which was submitted by GuocoLand in the amount of $417.24 million.
This site has a lot of development potential.

One of the reasons investors were willing to pay so much money for this site is because they realize the immense potential that it is. If the property is leveled correctly, it could easily be turned into a condominium lot of over 400 units. The fact that this land parcel is in such a central location was yet another factor that put it in high demand. The Kampong Java site is quite special indeed.

Kampong Java Bid at Newton MRT Station

First of all, the Java site is the first private residential sale that was listed on the government land sale (GLS). It was put up for sale after the minimum unit guidelines were announced on October 2018. However, developers were in a cautious mood, as many government officials noted that the top bid was below their expectations. The Kampong Java site condo is called Kopar at Newton by CEL Development.

After analyzing the break-even price by this group, other property development experts estimated the break-even price would be about $1,700 psf. Thus, the selling price for the project could range from $1,900 to $2,000 psf. The fact that Chip Eng Seng was successful with their purchase of Park Colonial in July 2018 was a good sign for many investors as well.

Kampong Java Land Parcel For Sale

This Kampong Java land parcel is definitely some prime real estate, simply because it is located between the prime district 9 and the Newton MRT public transportation station. If you are employed with the Novena medical cluster, this proposed housing will definitely be great for all of your needs. CBD and Orchard Road individuals will find several benefits with this location as well. Homebuyers and investors will find this an appealing site for new housing, that is for sure.

Piermont Grand CDL Executive Condominium Sumang Walk EC

Piermont Grand is a brand-new executive condominium that will be established this year, 2019. The most awaited executive condominium is based in Punggol Singapore at Sumang Walk. This project constitutes thirteen blocks where each has around 10-17 storeys. This project got seventeen bids after the establishment of the site that happened in late last year.

The winning bid for the project was 509.37 million Us Dollars. This value makes it the most expensive project yet projected for the Punggol area. The magnificent view of the Punggol area makes Piermont Grand project suitable for the residential property buyers and an excellent investment. Unlike a private condominium, buyers don’t have to first pay for the ABSD as they wait for the completion of Piermont Grand.

Piermont Grand City Developments Limited Condo Located at Sumang Walk

The success of Piermont Grand Sumang Walk is guaranteed since the development has won many BCA awards in Singapore. The strategic location has initiated developments and other desirable factors that make it’s a super valuable property. Piermont Grand is the only executive condominium for City Developments Limited (CDL) who is aiming at replenishing its land banks.

Even though Punggol might seem like a non-mature estate, there are many plans intended to develop and make it an excellent eco-green region and a digital waterfront town defined by many developments. It’s adjacent to a panoramic view of the Punggol Reservoir. There are many luxuries in the area that comprises Punggol Plaza, Waterway Point, and Seletar Mall. These malls provide buyers with extensive shopping, dining and entertainment options.

Piermont Grand Near to Punggol Digital District

Punggol ought to become the first Digital District in Singapore with a promising and positive future that is attractive to any buyer. Besides, URA believes that Punggol will integrate education and business and that it will be driven by urban innovation, social and technology. It will involve all the critical sectors that include a digital economy such as the Internet of Things and artificial intelligence to steer and drive the Smart Nation Initiative in Singapore.

Piermont Grand Executive Condominium Punggol

Piermont Grand Executive Sumang Walk Punggol will offer outstanding facilities. First and foremost, there will be clubs, indoor gym, function room, children’s playground as well as swimming pool. The condominium also promises to fully meet the family entertainment requirements for your close friends, and family at large. You will perfectly luxuriate in a relaxed and tranquil lifestyle right in Piermont Grand.

Besides, there is excellent connectivity with easy accessibility to Sumang LRT Station. Besides the owners who operate buses, many buses are available across Punggol Way and Punggol Central. For owners traveling to the city, Piermont Grand is situated right next to TPE, Tampines Expressway.