Executive condominiums (ECs) are pretty popular right now, but there are not many unsold units in the market.
New ECs that have been launched in the last couple of years are:
- Ola
- Parc Canberra
- Parc Central Residences
- Parc Greenwich
- Provence Residence
- North Gaia
- Copen Grand
- Tenet
We did a quick check on URA Realis and found that out of these new launch ECs, as of June 2023, ECs with a substantial number of unsold units are North Gaia and Tenet.
Meanwhile, the showflat for Altura has opened, and will launch for booking on 5 August. Read 99.co’s review of Altura for more info about it!
Read this: How to buy an Executive Condominium (EC).
ECs launched in 2022 with unsold units
North Gaia
Address: Yishun Close
Number of units: 616
Nearest MRT: Yishun MRT
Estimated TOP: 2027
North Gaia is the first EC launch in Yishun in almost seven years. The main highlight of it is that it’s located right next to Sungei Khatib Bongsu, offering a scenic view of lush greenery. The park is also one of the largest mangrove reserves in Singapore.
Amenities-wise, the nearest mall will be Junction 9, which is around a nine-minute walk from the EC.
But like most ECs, the nearest MRT of North Gaia isn’t within walking distance. For instance, Yishun MRT is around a 10-minute bus ride away from the EC. That aside, here’s where Northpoint is, where there are hundreds of F&B and retail outlets to shop at.
Another highlight of North Gaia is that there are currently four primary schools within 1km. These are:
- Chongfu School
- Huamin Primary
- North View Primary
- Xishan Primary
Other schools nearby include
- Northland Secondary
- Yishun Town Secondary
- Northbrooks Secondary
- Chung Cheng High (Yishun)
Nearby launches
North Gaia is currently the only new launch in Yishun.
If we look at District 27 (Sembawang, Yishun), the only other new launches are The Commodore and The Watergardens at Canberra, which are both located further north in Sembawang.
On the other hand, as they are private condos and located closer to the MRT, their prices are slightly higher than North Gaia.
Check out 99.co’s review of North Gaia.
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Tenet EC
Address: Tampines St 62 (Parcel A)
Number of units: 618
Nearest MRT: Tampines North MRT
Estimated TOP: 2026
Tenet EC is one of the ECs to look out for, as its land sale of S$659 psf ppr broke the record set by the land sale for Copen Grand. As of June 2023, it’s sold 96.3% of its units.
We also want to point out that this is another EC that’s close to the MRT. In fact, it’s within a 10-minute walk of the upcoming Tampines North MRT on the Cross Island Line. On the other hand, it will only open in 2030, four years after the expected TOP of the EC. So in the meantime, you’ll have to rely on the bus or car.
Another thing about Tenet EC (we don’t want Google to confuse it with the movie) is that it’s located along Tampines Expressway, which is both a boon and a bane. As a driver, you get to enjoy easier connectivity to the rest of the island. But it can also be noisy if your unit faces the TPE (check out our review of Tenet to find out which stacks to avoid).
Other than Tampines North MRT, the closest MRT will be Pasir Ris MRT and Tampines MRT. Both are around a 20-minute bus ride away.
Here’s also where you’ll be spoiled for retail options, with White Sands at Pasir Ris, and Tampines One, Tampines Mall and Century Square at Tampines. Plus, IKEA Tampines, Giant and Courts are a bus ride away.
We also like that there’s a good choice of recreational options in the area, such as Our Tampines Hub, Tampines Eco Green Park and Downtown East.
For parents with school-going kids, take note that there are two primary schools within 1km:
- Elias Park Primary
- Tampines North Primary
Other schools in the area include:
- Poi Ching School
- Gong Shang Primary
- Meridian Secondary
- Tampines Meridian Junior College
- United World College (East Campus)
Nearby new launches
Right now, the only other new launch condo on the market in District 18 (Pasir Ris, Tampines) is Pasir Ris 8, which is around 96% sold as of June 2023. Meanwhile, the last EC in Tampines, Parc Central Residences that was launched in 2021, has already sold out.
Two sites near Tenet have been sold through GLS this year: the integrated development site at Tampines Avenue 11 and Tampines Street 62 (Parcel B) EC site.
The integrated development site drew three bids, with the top bid at S$1.206 billion (or a land rate of $884.60 psf ppr). Meanwhile, developers seem to be more keen on ECs, with this Tampines EC site garnering seven bids.
Check out 99.co’s review of Tenet.
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Upcoming ECs to look forward to in 2023 and 2024
With only 370 unsold units left on the market, there are not many options left.
Fret not, if the units in these ECs are not to your liking. There are four upcoming new launch ECs to look forward to in these two years:
- Altura EC (Bukit Batok West Ave 8)
- Bukit Batok West Avenue 5
- Plantation Close
- Tampines Street 62 (Parcel B)
(Do note that if you own a private property eg. a condo, you’ll need to sell it at least 30 months before you can buy a new launch EC. Meanwhile, if you own an HDB flat, you have to sell it within six months after you get the keys to your new EC.)
New launch EC launching in 2023
Altura EC (Bukit Batok West Avenue 8)
Number of units: 360
Nearest MRT: Bukit Gombak MRT, Tengah Park MRT
Estimated TOP: 2027
Altura will be the only EC launching in 2023. Like most ECs, Altura is around a 10-minute bus ride to the nearest MRT: Bukit Gombak MRT and Tengah Park MRT.
But the good thing is that it’s just around a six-minute walk to Le Quest, where there’s Fairprice Finest, McDonald’s, KFC and a few other F&B outlets.
Five primary schools will be within 1km of this site:
- ACS (Primary) (from 2030 onwards)
- Bukit View Primary (from 2027 onwards)
- Dazhong Primary
- Pioneer Primary (from 2026 onwards, depending on your block)
- St Anthony’s Primary
Other schools nearby include
- Princess Elizabeth Primary
- Dunearn Secondary
- Swiss Cottage Secondary
- Bukit Batok Secondary
- Millennia Institute
What stands out to us about this EC is that there are a few nature spots in the vicinity.
For instance, Bukit Batok Hillside Nature Park is just across the road. Meanwhile, Little Guilin and Bukit Batok Nature Park are around a 20-minute bus ride away. Depending on the stack placement, you might be able to get a view of these nature parks.
Nearby new launches
There’s a few new launches in District 23 (Bukit Batok, Bukit Panjang, Choa Chu Kang), but they’re mostly a little north at Bukit Panjang:
- The Arden
- Phoenix Residences
- The Botany at Dairy Farm
- Dairy Farm Residences
So if you’re looking for a condo with a more affordable price point, you may consider this EC. It’s also the first EC in the area in almost 20 years, with the last being The Dew launched in 2003.
On the other hand, there’s another upcoming EC right next to it, and another one at Plantation Close. So there are a few EC options in the area in the next couple of years.
Nevertheless, we expect to see some demand for this EC. People may want to secure a unit here as they expect prices will be higher for the next EC launches in the area.
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New launch EC launching in 2024
Bukit Batok West Avenue 5
Number of units: 510
Nearest MRT: Bukit Gombak MRT, Tengah Park MRT
Estimated TOP: TBC
The tender for this Bukit Batok West Avenue 5 EC site was launched in late June and closed in September 2022. As mentioned earlier, it’s located right next to the Bukit Batok West Avenue 8 EC. And similarly, it’s within 1km of ACS (Primary) when it relocates to Tengah in 2030.
What’s interesting is that its bid price was S$626 psf ppr, which was lower than the bid price for the neighbouring EC site.
Other than the lower bid price psf ppr, the major difference is that the land plot is slightly bigger here, so it’s estimated to have around 100 more units. Given the larger land plot, we may also have one or two more facilities.
Although it’s too early to tell, we think the selling price here may be a little higher due to the higher material and construction costs.
Plantation Close
Number of units: 495
Nearest MRT: Tengah Park MRT
Estimated TOP: TBC
The tender for this Plantation Close EC (previously known as Tengah Plantation Loop) site was recently closed, drawing nine bids from developers. It will be the second EC in Tengah after Copen Grand, which has since sold out.
In terms of bidding price (which HDB will unveil at a later date), we expect it to be a little higher than the Bukit Batok West Avenue 5 EC given its proximity to Jurong East.
Talking about its proximity to Jurong, the good thing about this EC is that residents can easily head there for daily needs or other amenities like healthcare. It’s more convenient than living closer to the heart of Tengah, since it will take some time before the town is more developed and more amenities are available.
Right now, based on Google Maps estimates, it takes around a 20-minute bus ride to reach Jurong East MRT (where there’s JEM, Westgate and IMM) and Bukit Batok MRT (where there’s West Mall).
This also means that this EC is pretty close to Jurong Lake Gardens and Jurong Lake District, which is expected to bring in around 100,000 jobs (and some rental opportunities).
The Plantation Close EC will also be one of the few ECs that’s within walking distance to an MRT, with Tengah Park MRT just around a five-minute walk away.
But take note of the noise pollution here. Since the Jurong Region Line (JRL) runs on an elevated track and stretches along Bukit Batok Road, residents closer to the track will have to be prepared to contend with the noise.
As for school choices, residents here enjoy more options than Copen Grand.
Primary schools within 1km include:
- Bukit View Primary (from 2027 onwards, depending on your block)
- Princess Elizabeth Primary
- Pioneer Primary (from 2026 onwards)
- Jurong Primary
- Yuhua Primary
Other schools include:
- ACS (Primary), which falls within 2km radius
- Bukit Batok Secondary
- Crest Secondary
- Millennia Institute
- Dulwich College
Nearby new launches
Currently, the new ECs in the area are Altura and Bukit Batok West Avenue 5, which will all be launched before this EC. The site next to this EC will also be launched for tender as an EC site in November 2023, so we expect it to be launched for sale from 2025 onwards.
Other options are The LakeGarden Residences and Sora, which is formerly Park View Mansions. Both are next to Jurong Lake Gardens.
If you’re looking for a new launch condo in Jurong at a more affordable price point, this EC might just be the one for you.
Tampines Street 62 Parcel B
Address: Tampines St 62
Number of units: 700
Nearest MRT: Tampines North MRT
Estimated TOP: TBC
As mentioned earlier, the Tampines Street 62 Parcel B EC site is located right next to Tenet EC. So they share the same amenities (as well as the pros and cons).
And like Tenet EC, it’s one of the few ECs that’s within walking distance to an MRT station. In fact, a plus point it has over its neighbour is that it’s closer to Tampines North MRT (around a three-minute walk) on the Cross Island Line.
Nearby launches
If you miss out on Tenet EC, this is a good option to consider due to the price.
This is because the other option in the area is the upcoming integrated development at Tampines Avenue 11. We predict prices for the condo will be at a premium due to its mixed-use status.
Meanwhile, as a new EC, Parcel B EC will come with subsidies, making it more affordable for those looking to upgrade.
Executive Condos for sale
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Looking to sell your house to buy a new EC? Let us help you by connecting you with a property agent.
If you found this article helpful, 99.co recommends Which ECs have transacted for less than S$1 million in 2023 so far? and Is there an optimal holding period to maximise capital gains? We look at resale EC transactions in June 2023.
The post Upcoming Executive Condo sites in 2023 to 2024: Which New EC should you go for? appeared first on .
