EdgeProp predicts that the Tembusu Grand can break even at $2,120 per square foot
The Singapore listed property firm City Developments Limited (CDL) was given its Jalan Tembusu GLS site with the highest bid of S$ 768 million, or $1,302 for every square foot of land per plot ratio (PSF PPR).
Eight bidders have submitted bids for this leasehold housing site located in Jalan Tembusu, off Tanjong Katong Road. Jalan Tembusu GLS site is located on an average plot size of 2.8 and a land area of 210,619 sqft. This could lead to approximately 640 housing units. This makes it a medium-sized construction project Tembusu Grand located in District 15.
EdgeProp believes the Tembusu Grand will be able to break even at $2,120 per sq ft, after the land costs construction, financing the property, professional fees and marketing expenses are taken into consideration.
Tembusu Grand Living on the East Coast
One of the major advantages of living on the East coast in Singapore is its easy access to everything coastal living can provide. The nature of the waterfront on Singapore's East Coast means you get to enjoy the best beaches and the natural beauty can offer, while having the luxury associated from living in these well-groomed and sought-after locations. There is a mix of apartments and houses for all budgets and most people agree that after a few years within the region, it's hard to move out.
Tembusu Grand is situated within the Marine Parade Planning Area, East Coast's most sought-after enclave just off Tanjong Katong Road It is near amenities and within 1km of famous schools such as Kong Hwa School, Haig Girl's School and Tanjong Katong Primary School. Within two kilometers are CHIJ (Katong) primary school School, Geylang Methodist Primary School and Tao Nan School.
The location is about 600m from the soon-to-open Tanjong Katong MRT station along the Thomson-East Coast Line, Tembusu Grand residents will benefit from the convenience of mass transportation and have an easy connection to the city's center when they get the Thomson-East Coast Line is fully operational in 2023. Tembusu Grand is also serviced by bus routes which provide excellent connection to the major areas for leisure and commerce like Paya Lebar Central and Singapore Sports Hub.
If it is available for sale in 2023 Tembusu Grand will likely to compete with Dunman Grand, located on a site located less than 100m away from the Dakota MRT, as well as The Continuum A freehold residential property located in Thiam Siew Avenue, approximately 7 minutes walk from Paya Lebar MRT Interchange and Paya Lebar Regional Centre.
The confidence developers believe in Singapore's housing market is evident in the strong demand for the latest property sales within the City fringe region according to Ms Tricia Song, director of research at CBRE Southeast Asia.
MYRAID of AMENITIES OF TEMBUSU GRAND
The Katong neighborhood is where you will find Parkway Parade, 112 Katong, Marine Parade Food Centre, Dunman Food Centre, and many more diverse and interesting shops, eateries and historic buildings along Joo Chiat conservation house. Peranakan eateries and boutiques are found in Joo Chiat enclave. Joo Chiat enclave, which aren't common to other areas of Singapore.
Malls such as PLQ, KINEX, and SingPost Centre Katong are located on the western side of east coast. They are located near the Paya Lebar Interchange, that is an integral part of the Regional Center and house an assortment of diverse commercial and F&B choices for the Tembusu Grande residents.
There are Peranakan restaurants and boutiques within these enclaves. Unfortunately, they aren't as common in other areas of Singapore. These hinterland regions are closer to the city, and are favored by expats wanting to get a taste of local Peranakan lifestyle, or reside within one of these beautiful shops.
TANGJONG KATONG COMPLEX SET TO Be CLOSED FOR RENOVATION from 2023
Tanjong Katong Complex is to be closed for refurbishment beginning in the second quarter of 2023. In a press release in the year 2023, The Singapore Land Authority (SLA) said the project will be closed to be renovated extensively, and plans to increase the floor area.
SLA stated that when they were planning the massive renovation work they have incorporated feedback from the community and suggestions to preserve the structure. The renovation, which is scheduled to take about three years result an area of roof to accommodate restaurants, and also more space for community activities at the renowned Tanjong Katong Complex.
SLA stated that, aside from the expanded menu of food and beverages in the compound, it will provide additional space for social and other activities to improve the place. The idea is to plan to create vibrancy and draw visitors to the neighborhood that extends from the development all way into the Kampong Ubi Community Centre, transform it into a distinct area. It is expected that the New Tanjong Katong Complex is anticipated to bring more energy to the neighborhood and further strengthen its reputation as a distinct popular cultural zone for all.
The other three shopping malls include Parkway Parade, Roxy Square and Katong Plaza, each of that has its own unique history that has been a part of Singapore's local market for years through the decades that Singapore has grown. Parkway Parade. The recently revamped I12 Katong is home to local favorites like Malaysia Boleh and Signature KOI as well as modernists such as Scoop Whole Foods and Climb Asia.
THE LARGEST PARK IN SINGAPORE
If you love being outdoors in the sun, you'll be happy living on this area of the East Coast due to the East Coast Park, which is one of the most sought-after escapes in Singapore. The well-known East Coast Park is Singapore's largest beach park. It is certainly something enjoyable that everyone can enjoy, including cycling, jogging, canoeing or barbecuing, as well as relaxing on the beach.