HDB launches tender for much awaited new executive condominium development in Punggol, and quoting Straits Times article, ‘A fierce bidding war is expected’ for Sumang Walk EC. Estimated launch date will be Jun 2019, taking into account 15-month moratorium period developer has to observe before they can start marketing activities.
[Latest Update: 27 Feb 2018] Tender closed today, with record top bid submitted jointly by CDL and TID. Click here for more details.
With no announcement on further new EC site for development, coupled with only one new EC launch in whole of year 2018, many are predicting that a dozen or more developers could ‘contest hotly’ for this executive condo site.
This is due to pent-up demand from home buyers due to lack of new executive condo sites, as was the case for Hundred Palms Residences, where developer Hoi Hup sold all its apartments within the first day of sales (launch) in July 2017.
Brief Info on Sumang Walk EC
Situated adjacent to My Waterway @ Punggol, accessibility to Punggol’s lifestyle activities will be an ease to residents.
Within 1 km away to Punggol Town Centre, amenities such as MRT station, shopping mall, etc, are within reasonable reach.
For those planning for babies, there’s a primary school just across the road at Sumang Link.
For daily commute, both Sumang and Nibong LRT stations are minutes’ walk away, and is one junction away from Punggol semi-expressway for travel by car.
For future investment potential, Seletar Aerospace Hub and upcoming Learning Corridor and Creative Cluster under Masterplan 2014 is within close vicinity.
Home buyers interested in Sumang Walk EC need to wait till after May 2019, as developer is required to observe a 15-month moratorium period after being awarded the site for development, before they can market it for sales.
With government extending project completion period for EC sites, completion is estimated to be 5 years from award date.
Upcoming New EC Launch before Sumang Walk EC
The only new ec launch in year 2018 is Anchorvale Lane EC by Hoi Hup Realty. This development, Rivercove Residences EC, is expected to be launched in 1st quarter of 2018.
Preliminary information of Rivercove Residences can be found here.
For detailed project information, we are still waiting for release from developer.
Current EC available for walk-in sales
For home buyers who desire an earlier collection of keys to their new EC home, availability of executive condominium for walk-in sales as of 13 Dec 2017 is listed below:
|Project Name||Location||Launch Date||% Sold|
|iNz Residence||(D24) Choa Chu Kang Ave 5||Mar 2017||94|
|Northwave||(D25) Woodlands View||Jul 2016||79|
|Signature at Yishun||(Dxx) Yishun St 51||Sep 2015||79|
|The Brownstone||(Dxx) Canberra Drive||Jul 2015||98|
|The Criterion||(Dxx) Yishun St 51||Sep 2015||92|
Interested in an EC Purchase?
Wait no further! With no more land sites for executive condo, will we face another round of suspension to EC development? Call developer’s appointed marketing agent to understand more on Sumang Walk EC or to discuss if an EC purchase suits your lifestyle.