Next Executive Condo projects in 2022 to 2024: which EC to choose?, Money News

Executive condominiums (EC) are quite popular right now, but there aren’t many unsold units on the market.

Currently, the new ECs that have been launched are: Ola, North Gaia, Parc Canberra, Parc Central Residences, Parc Greenwich, Piermont Grand, Provence Residence.

We did a quick check on URA Realis and found that of these new launch ECs, in July 2022 Canberra Park, Greenwich Park and Piermont Grand only had one unsold unit each. The other CEs with unsold lots are Provence Résidence with three lots and North Gaia (which just launched in April) with 166 lots.

As of last month, there are only 456 unsold units left on the market. So there aren’t many options left.

Don’t worry if these CE units aren’t right for you. There are five next CEs to look forward to in these three years. These are Copen Grand, Tenet, Bukit Batok West Avenue 8, Bukit Batok West Avenue 5 and Tengah Plantation Loop.

Copen Grand and Tenet are expected to launch this year.

Grand Copen

Address: Tengah Garden Promenade
Number of units: 620
Nearest MRT: Tengah MRT
Estimated TOP: 2026

Being the first EC to be launched in Tengah, Copen Grand is shaping up to be one of the most anticipated ECs. When bidding for the sale of the land last year, he set a record bid for an EC site at the time at $603 psf ppr.

As mentioned in our GLS analysis on the site, Copen Grand owners will enjoy a first-mover advantage. Prices will appreciate further as Tengah expands.

Tengah is also expected to be an eco-friendly town with a car-free town centre, so we can expect more sustainable features to be incorporated into the development. This can include smart energy management and smart units.

More importantly, what we love about this EC is that it is one of the few ECs in Singapore that is near an MRT! It will be located about a five-minute walk from Tengah MRT (expected to be ready in 2027) and downtown Tengah. So if you’re not looking to own a car, this is the CE for you.

But the downside is that the area is still under construction, so buyers won’t be able to visit the site now to get a feel for the area.

Moreover, the development of Tengah as a new housing estate will take time. So, in the meantime, you may need to travel to nearby towns like Jurong and Bukit Batok for some amenities.

Based on the 2019 URA Master Plan, two school plots have been designated to be within walking distance of the EC. However, we do not have more details about these sites.

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Currently, only one primary school – Pioneer Primary – is expected to be located in Tengah from 2025 as it will move from its current location.

New launches nearby

Currently, there is a lack of new launches here. We therefore expect a high turnout here, especially as this is the first EC in Tengah.

Other upcoming ECs nearby are located at Bukit Batok West Avenue 8 which will likely be launched next year, as well as Bukit Batok West Avenue 5 and Tengah Plantation Loop which will be launched in 2024.

It will also be one to two years before we see any new launches in Jurong, given that Lakeside Apartments and Park View Mansions were only sold this year.

Principle

Address: Tampines St 62 (Parcel A)
Number of units: 618
Nearest MRT: Tampines North MRT
Estimated TOP: 2026

Another EC to watch is Tenet EC, as its $659 psf ppr land sale broke the land sale record set for Copen Grand.

We would also like to point out that this is another EC close to the MRT. In fact, it’s less than a 10-minute walk from the next Tampines North MRT on the Cross Island line. On the other hand, it will not open until 2030, four years after the expected TOP of the EC. So in the meantime, you will have to rely on the bus or the car.

Another thing about Tenet EC (we don’t want Google to confuse it with the movie) is that it’s located along the Tampines Highway, which is both a boon and a bane. As a driver, you benefit from easier connectivity with the rest of the island. But it can also be noisy if your device is facing the TPE.

Other than Tampines North MRT, the nearest MRT will be Pasir Ris MRT and Tampines MRT. Both are about 20 minutes away by bus.

It’s also where you’ll be spoiled for choice for shopping, with White Sands in Pasir Ris, and Tampines One, Tampines Mall and Century Square in Tampines. Additionally, IKEA Tampines, Giant and Courts are accessible by bus.

We also like that there is a good selection of recreation options in the area such as Our Tampines Hub, Tampines Eco Green Park and Downtown East.

For parents of school children, be aware that there are two primary schools less than 1km away:

  • Elias Primary
  • Tampines North Primary

Other schools in the area include:

  • Poi Ching School
  • Gong Shang Primary
  • Secondary Meridian
  • Tampines Meridian Junior College
  • United World College (East Campus)

New launches nearby

Currently, the only other new market launch condo in the neighborhood is Pasir Ris 8, which is 90% sold in July 2022. Likewise, the latest EC in Tampines, Parc Central Residences which has been launched last year, has already sold out.

There is an upcoming GLS for an integrated development site at Tampines Avenue 11, but it won’t be open for tenders until December.

So in the meantime, this EC will be the only other choice besides Pasir Ris 8.

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We note that there is another EC site next to Tenet, currently called Tampines Street 62 (Parcel B). It has been on the GLS reserve list since the first half of 2021. So, depending on Tenet’s demand, we may see this site sold and redeveloped into another EC in the future.

Bukit Batok Avenue West 8

Number of units: 375
Nearest MRT: MRT Bukit Gombak, MRT Tengah Park
Estimated TOP: 2027

This Bukit Batok West Avenue 8 EC site currently holds the record bid for an EC, as it was sold for $662 psf ppr.

Like most ECs, this EC site is about a 10-minute bus ride from the nearest MRT, Bukit Gombak MRT and Tengah Park MRT.

But the good thing is that it’s only about a six-minute walk from the Quest, where Fairprice Finest, McDonald’s, KFC, and a few other F&B outlets are located.

There are currently two primary schools within 1km:

  • Dazhong Primary
  • St. Anthony Primary

Other nearby schools include

  • Princess Elizabeth Primary
  • Dunearn Secondary
  • Secondary Swiss Chalet
  • Bukit Batok Secondary
  • Millennium Institute

What emerges from this EC is that there are a few natural sites to choose from in the vicinity.

For example, Bukit Batok Hillside Nature Park is just across the road. Meanwhile, Little Guilin and Bukit Batok Nature Park are around 20 minutes away by bus. Depending on the location of the stack, you may be able to get a view of these natural parks.

New launches nearby

There are a few new launches in District 23, but they’re mostly a bit north in Bukit Panjang: The Arden, Phoenix Residences, The Botany at Dairy Farm, Dairy Farm Residences, and Mont Botanik Residence.

So if you are looking for a condo with a more affordable price, you can consider this EC. It’s also the first EC in the area for almost 20 years, the last being The Dew launched in 2003.

On the other hand, there is another CE coming up next door, and another at Tengah Plantation Loop. So there are a few EC options in the region over the next two years.

Since this will be the first CE in nearly 20 years, we expect to see some demand for this CE. People may want to secure a unit here as they expect prices to be higher for upcoming EC launches in the area.

Bukit Batok Avenue West 5

Number of units: 495
Nearest MRT: MRT Bukit Gombak, MRT Tengah Park
Estimated TOP: to be confirmed

The call for tenders for this site has just been launched at the end of June and will close on September 13th.

As mentioned earlier, it is located right next to Bukit Batok West Avenue 8 EC. The bid price will likely be in the same range, given the similar location attributes.

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The main difference is that the land is slightly larger here, so it is estimated that there are around 100 more units. Given the larger plot of land, we can also have one or two additional facilities.

Although it’s too early to tell, we think the selling price here may be a bit higher due to higher material and construction costs.

Tengah Plantation Loop

Number of units: 495
Nearest MRT: Tengah Park MRT
Estimated TOP: to be confirmed

This Tengah Plantation Loop site will be tendered later in December. This will be the second EC in Tengah after Copen Grand.

In terms of auction price, it may be a bit higher than 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 go there for their daily needs or other amenities like healthcare. This is more convenient than living closer to the heart of Tengah, as it will take some time before the town is more developed and more amenities are available.

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Currently, according to Google Maps estimates, it takes about 20 minutes by bus to reach Jurong East MRT (where JEM, Westgate and IMM are located) and Bukit Batok MRT (where West Mall is located).

This also means that this EC is quite close to Lake Jurong Gardens and the Lake Jurong District, which are expected to create around 100,000 jobs (and some rental opportunities).

Tengah Plantation Loop EC will also be one of the few ECs within walking distance of an MRT, with Tengah Park MRT only about a five-minute walk away.

But watch out for the noise pollution here. Since the Jurong Region Line (JRL) runs on an elevated track and extends along Bukit Batok Road, residents closer to the track will need to be prepared for noise.

When it comes to school choices, residents have more options here than Copen Grand.

Primary schools within 1 km include:

  • Princess Elizabeth Primary
  • Jurong Primary
  • Primary Yuhua

Other schools include:

  • Bukit Batok Secondary
  • Secondary crest
  • Millennium Institute
  • Dulwich College

New launches nearby

Currently, the new CEs in the region are Copen Grand, Bukit Batok West Avenue 8 and Avenue 5, all of which will be launched before this CE.

Other options can be found at the block sites of Lakeside Apartments and Park View Mansions, both located next to Jurong Lake Gardens.

If you are looking for a new launch condo in Jurong at a more affordable price, this EC might just be the one for you.

This article first appeared on 99.co.