Affinity @ Serangoon @ Serangoon North Estate and Serangoon Gardens (Formerly Serangoon Ville, Enbloc)
Affinity @ Serangoon, an upcoming residential area at Serangoon North, located in the northeastern part of Singapore was successfully acquired by Oxley Holdings for S$499 million. (See: Former HUDC estate Serangoon Ville sold en bloc for $499 million) The old Serangoon Ville enbloc is a 244 unit development features three blocks of 13-storey and four blocks of four-storey walk-up apartments.
The Oxley-led CONSORTIUM includes Oxley that takes up a 40 percent stake in the consortium; the balance is equally split among Lian Beng Group, Unique Invesco Pte Ltd and Apricot Capital. Unique Invesco is a 37.5 percent indirect associate of KSH Holdings; Apricot is the private investment firm of Super Group’s Teo family. The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.
Each unit is expected to receive between S$2 million from the sale, higher than the previously estimated S$1.6 million to S$1.7 million, ERA said. The estate had 69 years left on its lease.
Information on Enbloc of Serangoon Ville that will transform into Affinity @ Serangoon.
In July 25th, 2017, the tender was closed and a total of 5 competitive bids were received with prices well above the owners’ asking price. More than 80 percent of the owners agreed for an en bloc sale, which resulted in the property to put up for sale. After the sale is completed successfully, and conditions met, each owner will receive about S$2 million for their property. As usual, before the project launch announcement, it has to undergo some pending government paperwork and clearance from the authorities for a full go-ahead. As of now, Oxley Holdings has officially announced the name to be Affinity @ Serangoon. This new Condo launch in Singapore is expected to build great hype and excitement since it is located in a premium matured estate.
Since the CONSORTIUM leading this project is a major player in the industry, there is hardly an occasion when an obstacle has stopped or delayed a project as massive as this. Affinity @ Serangoon will be built with the family in mind and will consist of approximately 1052 units, with strata landed and 5 commercial shops. Featuring units with a variety of 1br to family-sized units, most of the units will be north-south facing and enjoy convenience and amenities in Serangoon North mature estate.
According to sources, this new development of the Affinity @ Serangoon condo is calculated to feature a land rate of $835 per sq ft per plot ratio. Oxley has been famous for developing luxurious condos and units for residential purposes and it is highly likely that this project will also be fully developed for a luxurious unit, resembling most of Oxley’s significant projects.
Short History of Serangoon North Estate where Affinity @ Serangoon is located.
Serangoon Gardens was formerly a residential estate for the British (and some Australian and New Zealand) soldiers and airmen, where some of them were based in the nearby RAF (Royal Air Force) Chia Keng Camp, until the early seventies.
The name Serangoon is likely to be derived from burong ranggoon, referring to a species of black and white stork that lives around Sungei Serangoon (formerly called Rangoon River). Satu, or one in Malay, was added to the name, thus becoming Saranggoon. This name was used for a long period of time before it eventually evolved to Serangoon. During the Japanese Occupation, large plots of flower farms were cultivated in this region, leading to the naming of the estate as Serangoon Gardens.
URA Masterplan For Developing Serangoon Where Affinity @ Serangoon is
The site is within URA’s Serangoon Planning area. Comparative developments in the area include Kensington Park, Affinity @ Serangoon by Oxley Holdings. Slightly further to the East will be Terrasse. There has been a drought for new condominium launches in the estate and so Affinity @ Serangoon will together with Keppel and Wingtai The Garden Residences will rejuvenate and revitalise the entire area and neighbourhood, the value of the estate will be raised and tremendous amounts of activities and vitality will be injected into the estate.
Important Breakdown and Preview of Affinity @ Serangoon
Let’s look at the compelling reasons to select Affinity @ Serangoon as your investment property and choice. Our developer team has a breakdown and you may refer to Affinity @ Serangoon Prices here.
- Good Roads and Transport Connectivity
- Nearby Good Local and International School
- Centralized Location and Minutes to Town, Harbourfront, Central Business District and also South Marina Bay
- Near to Amenities such as NEX and Food Haunts such as Chomp Chomp Food Centre.
- Strong Tenant Base with expected expatriate demand from Lycee Francais de Singapour
- Strong Tenant Base from Surrounding Business Parks such as Amk Industrial Park and Serangoon North Industrial Estate
- Great for Families looking for a home near good schools and strong amenities
- Luxurious Living and Fittings
Hype and Launch of Affinity @ Serangoon: What’s Next?
Since the official launch of Development name, Affinity @ Serangoon was just announced on 15th May 2018, we expect a hype build up as we continue to provide the latest news and updates. More importantly, the E-brochures, floor plans, and site plan will be crucial to determining the value of this Condominium at Serangoon North.
It is important to note that former HUDC estates, which tend to be huge under-built swathes of land, have featured strongly in this year’s list of awarded collective sales, with successful developers hoping to intensify the number of units by three to five times the existing capacity. This includes estates like Affinity @ Serangoon, and Riverfront Residence (formerly Rio Casa Enbloc).
If you would like to follow up on the updates of Affinity @ Serangoon, we highly recommend that you refer to the official site source here: https://affinityatserangoonville.sg. Early preview usually means you get access to early information that can help with decision making on the purchase of Condominiums in Singapore. Subsequently, you should base your decision on the floor plan layout and sizes – PSFs are important but the layout is equally important, so be sure to make informed decisions and do your due diligence before any purchase!
The rate at which ministry budgets can expand is to be further reined in, in a move to emphasise the need to be prudent with spending.
From April 1 next year, ministries’ “block” budgets can grow only at 0.3 times gross domestic product (GDP) growth, down from the current rate of 0.4, Finance Minister Heng Swee Keat said yesterday.
Last year, a permanent 2 per cent downward adjustment was announced to the budget caps of ministries and organs of state.
The latest measure comes as Singapore faces higher healthcare and infrastructure costs in the years ahead. Infrastructure spending will double from $8.5 billion in FY2011 to hit an estimated $20 billion in the upcoming financial year, while healthcare spending is set to have expanded from $3.9 billion to an estimated $10.2 billion over the same period.
Mr Heng said that Singapore has been able to get good value for its money, delivering good outcomes in areas like healthcare and education, which are highly ranked internationally.
But Singapore must continue to carefully manage expenditure growth, and “get the best value for every dollar we spend”, he added.
Agencies are already taking steps to become more efficient and effective, said Mr Heng. For example, the Land Transport Authority’s East Coast Integrated Depot – a four-in-one rail and bus depot – has achieved significant cost and land savings. The project, targeted for completion in 2024, will contain three train depots and one bus depot within a 36ha site, freeing up 44ha of land, an area the size of 60 football fields.
Emerging technologies can also be tapped, he added. In 2016, for instance, Nanyang Technological University and JTC Corporation developed a robot which can inspect buildings for defects, reducing manpower and time needed by 50 per cent.
Singapore University of Social Sciences economist Walter Theseira said that ministries can better manage their spending by evaluating programmes for cost-effectiveness.
For instance, the SkillsFuture credit scheme, which gives $500 in credits to Singaporeans aged 25 and older to pay for training courses, can be reviewed to see if the subsidies provided are meeting national needs.
“Some people who take up the subsidies do not end up working in the industries that they take courses for, or have the wrong idea of what the training can achieve, which may not be the best use of public money.”
Read more: http://www.skillsfuture.sg/
DEVELOPER TAKE ON THE PROSPECTS OF SENGKANG / FERNVALE.
With Parc Botannia and her surrounding development, Sengkang will have tangible investment appreciation by 2025. Being the newest neighborhood in Sengkang, Fernvale will be part of Sengkang’s seven sub-zones to be completed by the Housing and Development Board (HDB Singapore). This zone is expected to stretch from Punggol River to Jalan Kayu, and will be rewarded with an abundance of housing amenities. Needless to say, Jalan Kayu will be the main food street for delicacies and future prime area for coffeehouses and cafes.
DEVELOPER BIDS AND DEVELOPMENT
As Parc Botannia is situated at an ideal and convenient location, this intricate condominium was tendered by a total of 14 proposals. The highest bid was brought forward by Sing Holdings and Wee Hur Development of a total bid value of S$287.1 billion. The runner up was China’s Constructions proposal at S$287.98 billion. All in all, Sing Holdings and Wee Hur Development has a renowned name in Singapore and we can expect the development to have a positive
Other bidders included China Construction (South Pacific) Development, Allgreen Properties, MCL Land (Regency), and Treasure View. This joint development will create positive hype and excitement for the residents of Sengkang. Interested buyers can take note on the latest updates of dates so you can plan your viewing. (See Above for Important Dates and Events).
PARC BOTANNIA CONDO: TRUSTED DEVELOPERS HISTORY AND BACKGROUND
The Urban Redevelopment Authority (URA) launched Parc Botannia for tender at Fernvale Road on September 27th.
Wee Hur Holdings is one of the developers working on the Parc Botannia. They have been creating housing residences in Singapore since their establishment in 1980. After 28 years, the company was listed on Singapore’s Exchange Mainboard on January 2008.
Sing Development is the other joint project development company that won the public tender for this project. They have been around since 1964. With over 50 years of experience, they are well-rounded, dedicated, and trusted to successfully complete this project. Recent developments by Sing Development include residential projects such as the BelleRive in Bukit Timah area or Waterwoods project in Punggol.
Parc Botannia: More Information and All You Need To Know
Parc Botannia condo has not been fully constructed and will TOP in Dec 2020. At the Parc Botannia show flat location, prospects will be able to view a three-dimensional replica of the building, get answers to any questions, and get up-to-date information and prices for
Parc Botannia @ Fernvale road will hold around 735 residential units, 17,196.4m2, a maximum gross floor area of 51,590m2 and a period of 99 years leasehold. Parc Botannia floor plan will range from 1 bedroom for small spaces living, to a deluxe 5 bedroom for a bigger family. Learn more: https://parcbotannia-condo.com.sg