Hundred Palms Residences Project Information
Below is a quick glance for the project information for Hundred Palms Residences.
|Project Name:||Hundred Palms Residences|
|Developer:||Hoi Hup Realty|
|Tenure:||Leasehold 99 years w.e.f. 29 Feb 2016|
|Address:||Yio Chu Kang Road, Singapore|
|Units Mix:||3 Bedroom4 Bedroom
|Total Units:||531 Exclusive Units|
|No. of Blocks/Levels:||9 Blocks, 15 Storey|
|Car Park Lots:||TBA (1 Basement Carepark)|
|Expected TOP Date:||28 February 2020 (Launching Q3, 2017)|
|Site Area:||18,422.9 sqm|
|Architect:||Consortium 168 Architects (C168)|
The new Hundred Palms Residences EC land parcel attracted 10 hopeful bids with Hoi Hup Realty emerging winner with a top bid of $183.8 million. The land cost translates to a land cost per square foot per plot ratio(psf ppr) at $331.02 and an estimated Hundred Palms Residences EC price to be in the range of $750 psf to $800psf.
Why Buy Hundred Palms Residences EC?
- Hoi Hup is a renowned developer behind this project
- 531 exclusive units to select from 2 bedroom to 5 bedroom
- Elegant interior and spacious layouts for each unit
- District 19 and close proximity to Kovan Town Centre & Kovan MRT
- Easy connectivity to Central Expressway (CTE)
- Close proximity to prestigious school – Rosyth School
- Attractive pricing from $7xxK
Yio Chu Kang EC Price
A new site on the Yio Chu Kang Road (YCK) / Hougang has managed to attract significant interest from various developers. It has managed to receive ten bids by the close of the tender on the 18th of February, 2016. This site is intended to be developed into an executive condo property. The winning bid is worth S$183.8 million and it was placed by Hoi Hup Realty.
According to the director of the property development company, the breakeven cost will be just above S$700 psf. Therefore, it is likely that the sale price being target will be S$800 psf approximately. Of course, the actual pricing will be dependent on the market conditions at the time of the sale. The company expects to launch the project in 2017.
Amenities near Hundred Palms Residences EC
Bus Interchange & MRT
- Kovan MRT
- Hougang MRT
- Bungkok MRT
- Hougang Festival Market
- Hougang Green Shopping Mall
- myVillage @ Serangoon Gardens
- Greenwich V
- Rosyth School
- Bowen Secondary School
- Hougang Primary School
- Hougang Secondary School
- Xinmin Secondary School
- Xinmin Primary School
- Yio Chu Kang Primary School
- Lycee Francais De Singapour (French School of Singapore)
- Sheng Siong Hypermarket
- NTUC Fairprice
- Cold Storage
- Hougang Stadium
- Serangoon Gardens Country Club
Hougang (Yio Chu Kang) Master Plan
Yio Chu Kang EC site area is around 198,529 square feet. Thanks to a plot ratio of 2.8, a gross floor area of 555,246 square feet will be the maximum allowed on the site. Around 520 units should be available to the residents.
When the site was launched for sale in 2015, experts had predicted that the winning bid will be in the range of S$260 to S$340 per square foot per plot ratio. They also believed that the site would attract somewhere from 5 to 14 bids in total.
The bids for this EC site illustrate the interest in this sector by the property developers. This is despite the fact that there are still a large number of EC units that have remained unsold. Moreover, there are additional EC units that are currently being developed and yet to be launched.
Experts noted that the interest in this site is specific to its location. As such, it should not be taken as an indicator of the wider market conditions. The competition seems to have been intensified due to the ease with which residents will be able to access the development. Moreover, various facilities and amenities are within easy reach. The site should be particularly of interest to parents thanks to the convenient location of reputed schools in the vicinity.
Another reason for the increased interest is that the site is located in an area surrounded by HDB estates. As a result, the developer will get access to a ready catchment pool to get residents from.