What makes the 17 Developers Crazy for this new Punggol EC site?
The Punggol EC site attracted 17 bids.
All the 17 offers surpassed the previous record price for EC land set in July 2013 for the Lake Life site in Tao Ching Road near Jurong Lake.
This Punggol EC site marked a record EC unit land price at
$509.37 million, which works out to about S$583 psf per plot ratio.
CDL and TID is the land bid winner.
1. Undersupply of EC Market:
The absence of an EC land tender for one and a half years.
2. High Demand of EC:
Handful of EC balance units.
3. Excellent Location
Near to LRT and Punggol MRT station, Bus Interchange and Shopping Mall.
4. Exciting Future Developments
The 50-hectare Punggol Digital District (PDD) will be a model district of the future, and a key element in Singapore’s Smart Nation plan to transform the digital economy.
SIT, which will move its campus there from 2023.
All these will contribute to high potential capital gain.
5. Unblocked & Beautiful Sceneric Views
Potential waterfront living with pleasant views.
View towards Punggol Reservoir and Waterway@Punggol.
Most buyers love unblocked and enjoy the view so much, they don't mind to pay a premium for the beautiful view.
6. Good Size Land Parcel
The 2.7ha land parcel will also allow for generous landscaping.
Expert estimated that CDL and TID's break-even cost at close to $1,000 psf, the selling price is going to be above $1,100psf.
Despite asking for the highest price, but all the desired attributes will still stipulate the strong demand in this Punggol EC.
Click the button to register your interest.