LOCATION
SUMANG WALK
PLANNING REGION
NORTH-EAST REGION
PLANNING AREA
PUNGGOL
PLANNING SUBZONE
PUNGGOL TOWN CENTRE
LAND USE
RESIDENTIAL (NON-LANDED)
SITE AREA
27,056.40 square metres
GROSS FLOOR AREA
81,169.00 square metres
DATE OF AWARD
07 MARCH 2018
WINNING TENDER PRICE
$509,370,000
Amid a shortage in the executive condominium (EC) land supply, the land parcel at Sumang Walk received a total of 17 tenders at the close of the state tender managed by the Housing and Development Board on 30th January 2018.
On 7th March 2018, HDB announced that the top bid came from the joint tender from City Developments Limited (“CDL”) and TID Residential Pte. Ltd. (“TIDR”) which saw off 16 other tenderers in a stiff competition. The winning bid of $509.37 million works out to be $583 per square feet per plot ratio (psf/pr) which is a record bid for HDB EC land sales.
The second placed bidder was from Qingjian Realty (Residential) Pte. Ltd. with a bid of S$486 million or S$556.26 psf ppr. The third and fourth bidders are joint tender from Yanlord Singapore Residential and Soilbuild Group Holdings at a strong bid of S$450 million for the site. Hoi Hup Realty teamed up with Sunway Developments for a S$446.6 million bid.
The breakeven cost for CDL and TIDR is estimated to be in the region of $1,000 psf and several resale transactions in Sengkang only averaged at $860 psf. This indicates that the property developers believe prices will increase by about 20% by the time the development is completed.
The winning bid at Sumang Walk is 64% higher than the top bid of $355 psf ppr for the Anchor Vale EC site sold in August 2016. Market observers attributed the lack of land supply, dwindling stock of EC units and recovery in private residential market probably contributed to the bullish bids amongst the tenders.
CDL plans for waterfront lifestyle in Punggol EC
Mr Sherman Kwek, group CEO of CDL, is very pleased to win the tender only EC land in Punggol for 2018, which is slated to be the first Digital District, and the 99-years leasehold EC site is accessible by Punggol Way, Sumang Walk and Sumang Link. The 291,235 sq ft of land area offers an opportunity to complement the waterfront lifestyle residences with a generous landscaping for a truly unique urban living.
It has a maximum permissible gross floor area of 873,705 sq ft and CDL intends to develop into 13 blocks of up to 17 storeys and a basement carpark. To maximise the scenic views, the residence will be oriented towards Punggol Reservoir and My Waterway@Punggol.
Sumang Walk will be CDL’s ninth EC project in their extensive portfolio and CDL is confident of achieving success given the excellent location, proximity to LRT/MRT and primary schools and a rare opportunity to create waterfront lifestyle residence.
Buyers Must Fulfil HDB Eligibility
As executive condominiums are a hybrid of public-private residential product, all purchasers who intend to apply must fulfil the criteria set by the HDB on formation of family nucleus, qualifying citizenship and household income level. As CPF Grants are applicable on case by case basis, all applications must have at least one Singaporean Citizen.
After fulfilling the minimum occupancy of five years, the owners may resell the executive condo to another Singaporean or Permanent Residents. After the tenth year, all resale ec in Singapore will be treated as fully private residential with no restriction on nationality.
Education Institutions Near Sumang Walk Executive Condominium
As new executive condominium in singapore attract many young families with schooling children, the availability of primary and secondary are important factors when buying a home for long term use. We have consolidated the nearby Primary and Secondary Schools for your reference.
Nearby Primary School
PUNGGOL COVE PRIMARY SCHOOL
52 SUMANG WALK 828674
PUNGGOL GREEN PRIMARY SCHOOL
98 PUNGGOL WALK 828772
PUNGGOL VIEW PRIMARY SCHOOL
9 PUNGGOL PLACE 828845
SPRINGDALE PRIMARY SCHOOL
71 ANCHORVALE LINK 544799
COMPASSVALE PRIMARY SCHOOL
21 COMPASSVALE STREET 545091
RIVERVALE PRIMARY SCHOOL
80 RIVERVALE DRIVE S545092
MEE TOH SCHOOL
21 EDGEDALE PLAINS S828867
EDGEFIELD PRIMARY SCHOOL
41 EDGEFIELD PLAINS S828869
GREENDALE PRIMARY SCHOOL
50 EDGEFIELD PLAINS S828848
HORIZON PRIMARY SCHOOL
61 EDGEDALE PLAINS S828819
OASIS PRIMARY SCHOOL
71 EDGEFIELD PLAINS S828716
Nearby Secondary School
PUNGGOL SECONDARY SCHOOL
51 EDGEFIELD PLAINS
S( 828870 )
EDGEFIELD SECONDARY SCHOOL
36 PUNGGOL FIELD
S( 828814 )
GREENDALE SECONDARY SCHOOL
51 EDGEDALE PLAINS
S( 828866 )
COMPASSVALE SECONDARY SCHOOL
51 COMPASSVALE CRESCENT
S( 545083 )
CHIJ ST. JOSEPH’S CONVENT
62 SENGKANG EAST WAY
S( 548595 )
Amenities Near Sumang Walk Executive Condominium
There are plenty of amenities being built in Punggol Town to meet the daily requirements of the residents. The two popular shopping malls are Punggol Waterway Point and Nex Shopping Centre at Serangoon. The residents can take the North-East from Punggol to gain direct access to Nex Shopping Centre. Both malls are fully equipped with key trades like supermarkets, pharmacies and F&B dining options.
In most families, the couples with young children may require child care services as both parents are working full time. There are more than 10 child care services in Punggol and we have listed the three centres that are closer to Sumang Walk.
Nearby Child Care Centre
MY FIRST SKOOL
Blk 312C SUMANG LINK #01 – 163
SINGAPORE 823312
PCF SPARKLETOTS PRESCHOOL
Blk 308B Punggol Walk #01 – 364
SINGAPORE 822308
MINDCHAMPS PRESCHOOL
PUNGGOL NORTHSHORE PTE LTD
11 NORTHSHORE DRIVE #01 – B
MARINA COUNTRY CLUB
SINGAPORE 828670
Nearby Supermarkets
SHENG SIONG SUPERMARKET PTE LTD
Address: 312A SUMANG LINK
Unit No : 4
S 821312
NTUC FAIRPRICE CO-OPERATIVE LIMITED
Address: 83 PUNGGOL CENTRAL
Unit No : 32
S 828761
U STARS SUPERMARKET PTE. LTD.
Address: 261 PUNGGOL WAY Unit No : 2
S 820261
There are plenty of supermarkets in pockets of Punggol Town which makes it easy for residents to buy their daily necessities. We have listed the three choices that are closest to Sumang Walk.
Nearby Transport Infrastructure in Sumang Walk
For residents who are travelling by cars, the Kallang Paya Lebar Expressway (KPE) provides a seamless connection into the heart of the Marina Bay and Central Business District. The alternative route is the popular Central Expressway (CTE) which provides immediate connection to popular towns such as Ang Mo Kio , Bishan and Toa Payoh.
The Sumang LRT Station is within walking distance and connects directly onto the North-East Line (Purple Line). The North-East terminal stations are Punggol and Habourfront Centre and intersects several interchanges which allows transfer onto the Circle Line, North-East and Downtown Line.
There is a nearby bus stop which will has direct route to Punggol Central and nearby towns.
About CDL and TIDR
CDL announced that CDL Constellation Pte. Ltd., a wholly-owned subsidiary, has entered into a joint tender along with TIDR for a government land located at Sumang Walk.
In compliance with the Singapore Exchange Securities Trading Limited, CDL declared that TIDR is defined as an interested person as described in the Rule 904(4) of the Listing Manual. The interest holdings of CDL Constellation and TIDR in the Sumang Walk Property project are 60% and 40% respectively.
Both CDL and TIDR jointly acquire and develop the land at Sumang Walk for a proposed Executive Condominium housing development expected to yield 820 dwelling units for a joint tender price of tender price of $509,370,000.00 was submitted to The Housing & Development Board (“HDB”) on 27 February 2018.