13/03/2018
CDL is upbeat about prospects for the proposed project on the Sumang Walk site. Its group chief executive Sherman Kwek said: "We are confident of its success given its excellent location and desirable attributes. Punggol, slated to be Singapore's first Digital District, has an exciting future and we believe this will make the site very compelling to home buyers.
"It is also very close to LRT and MRT stations as well as a bus interchange, which is hard to come by for an EC project. Being right next to My Waterway@Punggol, the site also offers the opportunity to create a landmark waterfront residence with pleasant views."
CDL and TID joint venture will explore a project comprising 13 blocks of 10 to 17 storeys. "To maximise the scenic views, windows will be oriented towards Punggol Reservoir and My Waterway . The sizable land area will also allow for generous landscaping," CDL said in a release.
This will be CDL's ninth EC project. While Tuesday's tender set a record unit land rate for an EC site, the 17 bids were shy of the 19 bids received in 1997 for a Boon Lay Way site, which was developed into the Summerdale EC project, said Huttons Asia head of research, Lee Sze Teck.
For the first-half 2018 GLS Programme, three EC sites will be on offer: a plot in Canberra Link in the Sembawang area through the confirmed list, and two land parcels through the reserve list: one along Tampines Avenue 10 and the other along Anchorvale Crescent in the Sengkang area.
Source: Business Times
