Sengkang Grand Residences
This 680-unit development will be situated next to Buangkok MRT station, and it will be the third-largest mixed development in the North-Eastern region of Singapore. The Sengkang Grand Residences will be located right above the proposed Sengkang Grand Mall. It will include residential and commercial units. The development is also located right next to Palm View Primary School and opposite Jewel@ Buangkok and Esparina Residences. It will be neighboured by Compassvale Ancillia Park, Sengkang Central, and Compassvale Bow.
In July 2017, the Sengkang Grand Residences’ site was unveiled as part of the Government Land Sales Program for 2017 2nd half. The development has a plot size of about 3.63 hectares. The commercial space will cover a floor area of approximately 13,300 square metres. The development will be under a land tenure of 99 years.
Once it is completed, Sengkang Grand Residences will have 680 housing units with the following configurations:
- 131 units of 1-bedroom apartments plus study type sized from 474 to 506 square feet;
- 95 units of 2-bedroom apartments with sizes ranging from 624 to 678 square feet;
- 10 units of 2-bedroom apartments with study type sized at 624 square feet;
- 136 units of 2-bedroom premium apartments with study type sized from 732 to 764 square feet;
- 148 units of 3-bedroom apartments sized from 936 to 947 square feet;
- 56 units of 3-bedroom premium apartments sized from 1023 to 1055 square feet;
- 55 units of 3-bedroom premium apartments with Flexi room sized at 1012 square feet; and
- 49 units of 4-bedroom premium apartments with Flexi room sized from 1313 to 1324 square feet.
The amenities that will be available at Sengkang Grand Residences include:
- Yoga Lawn
- 50 Metres Lap Pool
- 3G Fitness
- Reflexology Path
- Pet’s Play
- Animal Sculpture Playground
- Mini Golf
- Kid’s Play Pool
- Playhouse on Lawn
- Tower Tree Slide
- Trampoline Thrill Tower
- Gourmet Pavilion
- Tepee Gardening
- Welcome Pavilion
- Dip Pool
- Social Lounge
- Social Function Room
- Main Function Room
- Nursing Room
- Changing Rooms
- Arrival Lobby
- Bubble Leisure Pool
- Swinging Day Bed
- Wellness Spa Pool
- Floating Tea Deck
- Aqua Hammock
- Hammock Lawn
- Spectrum Spa Pool
- Misty Garden
- Water Weir Wall
- Treetop Walk
- Cascading Water Feature
- Five Senses Garden
- Parkour Gym
- Poolside BBQ Pavilion
- Social Pavilion
- Aqua Pod
- BBQ Pavilion
- Circle Lounge
Other developments that are located within the vicinity of the development include Austville Residences, Riversound Residence, Park Green, The Riverdale, The Quartz, The Luxurie, La Fiesta, and other executive condominiums like Bellewaters, Treasure Crest, and The Vales.
City Developments Ltd and Capitaland Ltd teamed up through a partnership to purchase a land parcel to build Sengkang Grand Residences with a successful bid price of $777.78 million. This joint bidding was made through Siena Residential Development Ltd. The joint venture gives each developer 50 percent interest in the development of this beautiful mixed-use development. With the above quoted winning bid, it translates to 923.60 per square feet of the gross plot area.
Upon its completion, Sengkang Grand Residences will have an integrated community centre. The development will also comprise of 9 building towers with each of them 8 to 10 levels high. Sengkang Grand Residences will be a distinctive focal point and a Buangkok area’s landmark.
Peace and tranquillity still rule in the area, despite the mushrooming of high-rise towers in Sengkang Central over the past few years. Its serenity makes it the perfect location for both residential and commercial purposes. It is also an ideal location for those young parents who are looking to provide their kids with a world-class education since there are numerous established education facilities near the development. With good infrastructure and a myriad of amenities, the Buangkok area is well-known for its good connectivity which offers both convenience and comfort.
Shopping & Entertainment
The shopping and dining experience options will be unlimited . The large integrated mall is divided into multi levels including bus interchange, a community centre and even a hawker centre. There is a park and numerous other entertainment amenities within the vicinity. Numerous restaurants and food stalls are also located near the development.
Sengkang Grand Residences’ future residents will stand to gain from the planned Integrated Transportation Hub in the Hougang district. With this hub in place, commuters will easily switch from the bus interchange into the MRT station with relative ease. Additionally, upon the completion of the MRT Cross Island Line, Buangkok residents will be able to easily commute to the Changi International Airport and the Western part of Singapore.
There are plenty of choices when it comes to schools around the area. Punggol primary school, Palm View primary school, North vista is within 1km . The few more prominent schools around the area like Nan Chiau primary, CHIJ is within 2km .
As you can see there are only about 10 integrated developments in singapore. The integrated condo are no doubt attractive with its convenience, walk to mrt , malls, eateries basically without even the need to leave home. But buying one is not cheap, usually integrated development comes at a premium on average 20-30% more than relative new launch condo nearby because developer knows there will always be buyers who are willing to pay for convenience. The questions you must be curious is whether at such high price, will i still be able to profit out of it or even exit in the future. To analysis this , lets look at the more recent and nearby integrated developments like Watertown at punggol mrt and north park residence at Yishun mrt.
Above are the recorded transections taken . During 2012, watertown was sold at 20% higher than surrounding developments in punggol at $1000/psf whereas nearby projects were selling at $800/psf back then. Moving forward, we can see despite the premium back then, many investors are still able to exit when the project reached TOP in 2017.
I remember back then when North park residences was launch and many shy away from the high price thinking its ridiculous to pay $1300/psf for a place in Yishun which is at one of the most northern side of singapore. I am indeed surprise by the performance and demand of North Park residence today after looking at transactions that consumers are willing to pay. With the ever increasing land cost and inflations in singapore, it seems like the price of sengkang grand residence will be consider cheap in a few years to come.
Aside from the capital appreciation and exit plan analysis, i have also breakdown and look at the rental statistics and from the performance of the rental demand, it has clearly also prove to me that tenants understands convenience and are willing to pay premium rent as well.
Be prepared to pay for convenience in an all in one integrated development. With such convenience comes a lot of other savings like a need for a car, transport to go out, etc but this is very subjective as I believe every individual has their own needs and lifestyle. Most projects in Singapore are profitable at the end of the day through the power of inflation and matter of holding period. I would recommend this project if you are looking more for homestay and holding period of at least 7-8 years to be safe due to the premium. Speculators and investors with shorter time frame do stay away as there are better value projects for your consideration.