Another signature development by Hoi Hup Realty and Sunway Development in Anchorvale Lane.
RIVERCOVE RESIDENCES Executive Condominium is a new launch executive condo in Sengkang, Anchorvale Lane. Following the successful launch in Hundred Palms Residences EC which was fully sold out in seven hours, Hoi Hup Realty is set to launch Rivercove Residences EC in Q4 2017 with a bang.
Rivercove Residences EC land site attracted strong interest and aggressive bidding by developers in the GLS Government Land Sale. and was successfully bidded by the joint-venture of Hoi Hup Realty and Sunway Development. The Rivercove EC launch is anticipated to receive overwhelming response from both first-timer as well as HDB upgraders due to pent-up demand and lack of EC supplies in Sengkang and Punggol. Within the immediate vicinity, Lush Acres EC, Bellewater EC, The Vales EC and Treasure Crest EC has seen strong take-up rates during their respective launches and has all been fully sold.
|PROJECT NAME||Rivercove Residences|
|DESCRIPTION||PROPOSED EXECUTIVE CONDOMINIUM HOUSING DEVELOPMENT COMPRISING 10 BLOCKS OF 16-STOREY RESIDENTIAL UNITS WITH SWIMMING POOL, ANCILLARY FACILITIES (TOTAL 620 UNITS) AND 1 BASEMENT CARPARK ON LOT 2924T MK 21 AT ANCHORVALE LANE (SENGKANG PLANNING AREA)|
|DEVELOPER||Hoi Hup Realty
|DEVELOPER LICENSE NO.|
|GROSS FLOOR AREA||678,342sqft|
|NO. OF BLOCKS||10|
|NO. OF STOREYS||16 Storeys|
|NO. OF UNITS||620 units|
|EXPECTED T.O.P. DATE||To be adviced|
|EXPECTED C.S.C. DATE||To be adviced|
Rivercove Residences Executive Condo by Hoi Hup Realty is strategically located at Anchorvale Lane, within minutes stroll to Layar LRT Station (SW6). Heartland malls such as Fernvale Mall, Seletar Mall and the newly revamped Compass Point provide convenient shopping destinations for residents in Rivercove Residences. The newly opened Waterway Point and Punggol Safra are ideal lifestyle and shopping alternatives to dwellers in Rivercove Residences EC too. Nearby, the Kopitiam Square is not your only food hunting destination. Neighbourhood eateries, cafes and coffeeshops serves up your favorite local delights. Craving for supper in the wee hours? The popular 24-hour Jalan Kayu roti prata and several other eateries are within minutes drive away from Rivercove EC at Anchorvale Lane by HoiHup. Right at the doorstep of Rivercove Residences EC, conveniences of supermarket and provision shops are readily available too.
The active and energetic residents will enjoy having a jog or ride in your bicycle along the scenic Punggol Park Connector that runs along Sungei Punggol. The PCN is conveniently accessible from the side gate of HoiHup Sunway Development Rivercove EC. An open field right in front of Rivercove provides ample running space for outdoor activities and is ideally designated as a kite flying area. Sengkang Sports and Recreation Centre is another destination for the health and fitness concious residents in Rivercove EC.
Schools near to Sengkeng Anchorvale Lane new launch EC Rivercove Residences Executive Condo
Nan Chiau Primary School, one of Singapore’s top primary school is within close vicinity to Rivercove EC. A popular choice by most parents who want to enrol their children into a well established primary school, the new launch ec at Sengkang Anchorvale will definitely attract home buyers planning to enrol their children in to Nan Chiau Primary.
IN THE NEWS
RIVERCOVE RESIDENCES – SENGKANG ANCHORVALE LANE EC SITE
16 bids for Sengkang Anchorvale Lane EC site
Highest number of bids for Sengkang Anchoevale Lane EC land since 2013 signals upbeat outlook
There was a huge turnout for the last executive condominium (EC) site on offer this year, with 16 developers casting bids for an Sengkang Anchorvale Lane EC plot that could yield about 630 units.
It was the highest number of bidders for the Sengkang Anchorvale Lane EC site since the tender for a Yuan Ching Road site, now Lake Life, in July 2013.
Hoi Hup Realty and Sunway Developments submitted the top bid of $240.95 million or $355 per sq ft per plot ratio (psf ppr). It was just 2.5 per cent above Wee Hur Development’s bid of $235 million or $346.30 psf ppr.
“Since so many parties were bidding competitively, their outlook on the EC market would be fairly optimistic, probably expecting a pick-up in demand and improvement in prices when the project is launched in late 2017 or early 2018,” noted Mr Ong Teck Hui, JLL national research director.
“The potential bottoming of the private home market would also have a positive effect on the EC market, as stable or recovering prices of private homes would augur well for EC prices as well.”
Mr Lionel Lee, chief executive of listed offshore support provider Ezra Holdings, and his brother, Adrian – non-executive director at upstream energy group Loyz Energy – are directors of Raimon Land.
Singaporeans Low Yuen Theng and Leong Suet Wah are behind Treasure View.
The area nearby the Sengkang Anchorvale Lane EC site has several ECs with unsold stock, including Bellewaters, The Vales and Treasure Crest, noted Mr Nicholas Mak, SLP International executive director and research head.
About 296 units are unsold across these three projects, about the same number of flats you would find in a small EC project, he said.
However, given the top bid of $355 psf ppr for the Anchorvale Lane EC site, the developer would probably have to sell at over $820 psf ppr, above levels at the other projects and “a rather aggressive price”, Mr Mak added.
But despite an unprecedented quantity of unsold stock, the EC market has seen some traction in the last few months, said Mr Desmond Sim, CBRE research head for Singapore and South-east Asia.
The number of unsold EC units has been decreasing since the first quarter of this year.
The stock had dropped to 5,471 unsold units as at the end of June, from 6,520 units in the first quarter, he noted.
Developer interest was also fanned by the recent sales performance of the Treasure Crest EC in Anchorvale Crescent, which sold 72 per cent of units at its launch weekend last month, Mr Sim added.
Source: Straits Times 24 Aug 2016
Anchorvale Lane EC site fetches 16 bids; top bid from Hoi Hup
A STATE tender for a 99-year leasehold executive condominium (EC) site along Sengkang Anchorvale Lane EC in the Sengkang area has attracted a whopping 16 bids.
The highest bid for the Sengkang Anchorvale Lane EC site – from Hoi Hup Realty, which teamed up with Sunway Developments – was S$240.95 million, which works out to slightly over S$355 per square foot per plot ratio (psf ppr).
The second highest bid for the Sengkang Anchorvale Lane EC, S$235 million (or S$346.30 psf ppr) , was from Wee Hur Development. Robert Kuok’s Allgreen Properties was the third highest bidder, at S$226.90 million (or S$334.37 psf ppr).
City Developments’ unit Bellevue Properties was the lowest bidder for the Sengkang Anchorvale Lane EC site, at S$176 million or S$259.36 psf ppr.
The 2.1-hectare Sengkang Anchorvale Lane EC site can generate about 635 homes. The land parcel is near Tongkang LRT Station.
Other bidders at the Sengkang Anchorvale Lane EC site tender included a tie-up between Sing Holdings and Maxdin; Kheng Leong Company in partnership with Singland Homes; Sim Lian Land; Qingjian Realty (Residential); China Construction (South Pacific) Development Co; Nanshan Group Singapore Co; Greatview Investment; Soilbuild Group Holdings; and CEL Real Estate Development.
Source: Business Times 23 Aug 2016