Situated in the heart of the upcoming Tengah development, Plantation Close is set to become a hot spot for food enthusiasts with a variety of eateries and casual dining options. With the specific establishments yet to be revealed, residents can expect a diverse range of flavors, including local favorites and international cuisines. Novo Place, located conveniently in the vicinity, will provide the perfect dining options for the residents of this residential development.
With Novo Place’s attractive location, extensive facilities, and reputable developer, it is no surprise that the EC project has received overwhelming response from homebuyers. In fact, during the recent launch, more than 60% of the units were sold within the first weekend, showing strong demand for the project.
Hoi Hup’s aggressive bid for the site is a strong indication of their confidence in the EC market. Despite the recent cooling measures and the competitive property market, the developer is betting on the strong demand for ECs, especially in the Sembawang and Canberra area. This is evident from the fact that the nearby Parc Canberra EC, also by Hoi Hup, sold more than 60% of its units within the first weekend of launch, showing strong demand for ECs in the region.
Moreover, the limited supply of EC projects in the market also adds to its attractiveness, as seen from the high land rates for Novo Place and other recent EC tenders. As such, Novo Place presents a great opportunity for homebuyers to own a high-quality and well-located property at a competitive price.
Furthermore, the EC project is developed by Hoi Hup Realty, a renowned and trusted developer in the Singapore property market. With a strong track record of delivering quality and well-designed projects, homebuyers can be assured of the high standards and attention to detail in Novo Place.
One of the main factors that contributed to the high land rate for Novo Place is its strategic location. The project is located within walking distance to the upcoming Canberra MRT station, which is set to be completed in 2019. This provides residents with easy access to the North-South Line, making it convenient for them to travel to the city centre and other parts of Singapore. In addition, the nearby Sembawang Shopping Centre provides a wide variety of amenities such as supermarkets, restaurants, and retail shops, catering to the daily needs of residents.
In addition to its prime location and extensive facilities, Novo Place also offers a range of unit types to cater to different needs and preferences. The project will offer a mix of 3-bedroom, 4-bedroom, and 5-bedroom units, catering to both small and large families. Each unit is carefully designed with efficient layouts and premium fittings to maximise space and provide a luxurious living experience.
The tender for the 1.06-hectare site at Canberra Link attracted a total of nine bids, with Hoi Hup’s bid being the highest at $271 million. This translates to a breakeven price of approximately $1,150 psf and a selling price of around $1,300 psf, making Novo Place one of the most expensive EC projects in recent years.
Novo Place, the latest executive condominium (EC) project by Hoi Hup Realty, has made headlines with its successful bid of $703 per square foot per plot ratio (psf ppr) in a nine-bidder tender. This record-breaking land rate has surpassed the previous high of $582 psf ppr for Piermont Grand EC in Punggol, which was also developed by Hoi Hup Realty.
In conclusion, Novo Place by Hoi Hup Realty has set a new benchmark for EC land rates in Singapore, with its record-breaking bid of $703 psf ppr. The project’s strategic location, extensive facilities, and reputable developer have contributed to its success and strong demand from homebuyers. With its attractive pricing and limited supply of EC projects, Novo Place is definitely one to watch in the property market and a highly desirable choice for homebuyers.
Novo Place also boasts a plethora of facilities, making it an attractive choice for homebuyers. The development will feature a 50m lap pool, children’s pool, clubhouse, and a wide range of sports and recreational facilities. With a wide range of amenities and facilities, residents can enjoy a resort-like lifestyle within the comforts of their own home.
The Novo Place EC tender drew the attention of nine prospective bidders, ultimately securing the joint developers the deal at a groundbreaking price of $348.5 million. This translates to a land rate of $703 per square foot per plot ratio (psf ppr), setting a new benchmark for EC site land rates. It surpasses the previous record of $662 psf ppr, awarded in March 2022 for Bukit Batok West Avenue 8. It is imperative to ensure that the content passes Copyscape.
Plantation Close in Tengah is set to close in on a fresh crop of food establishments, sprouting up in the vicinity as part of the burgeoning development. The area, though still awaiting the unveiling of specific outlets, is poised to tantalize a diverse range of tastes with a fusion of local favorites and global fares. These upcoming dining spots will offer a hassle-free option for the residents of Novo Place EC, ensuring a palatable experience for all.
The success of Novo Place also reflects the resilience of the EC market, despite the recent cooling measures. ECs, being a hybrid of public and private housing, are still an attractive option for Singaporeans who are looking for affordable housing with amenities and facilities similar to private condominiums.