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March 25, 2021

Special Highlight: Pasir Ris Central Upcoming New Launch (Pasir Ris 8)

Special Highlight: Pasir Ris Central Upcoming New Launch (Pasir Ris 8)
By PropNex Research

Pasir Ris, widely seen as a coastal town will soon be home to a new mixed development Pasir Ris 8. Jointly developed by Allgreen Properties and Kerry Properties, the project can potentially offer about 600 contemporary homes as well as a retail mall. It will also be integrated with a bus interchange, a polyclinic and a town plaza, providing direct access to public transport and modern amenities.

Being in the heart of the Pasir Ris town as well as near parks and many recreation facilities, the development blends urban living with resort experience. So, even though the project is located right at the doorstep of the Pasir Ris MRT station, the residents really do not have to travel far to have fun.

Pasir Ris 8 in District 18 is one of the notable launches in the Outside Central Region (OCR) in 2021, amid a tight supply of new private homes in this sub-market. In addition, there has been limited new projects in the area in recent years. Hence, this mixed development will in all likelihood find favour with many Singaporeans, including HDB upgraders from surrounding public housing estates.

Sun, sea, and sights
Within minutes’ walk, Pasir Ris 8 residents will avail themselves to a range of amenities from lush coastal parks, to shopping malls and other entertainment options. They can head over to the Pasir Ris Town Park and the sprawling Pasir Ris Park for a dose of sun and sea, tackling walking trails, engaging in sea sports, or observing birds from the look-out tower within the mangrove forest in the park.

Those who are up for a more strenuous workout and sightseeing can bike, roller blade or run along the Pasir Ris or Tampines Park Connectors to access other parks in the east, such as the Changi Beach Park, Bedok Reservoir Park, and the East Coast Park.

Pasir Ris may look like a vibrant new town today, but it is packed with history and character. In the early days, it started out as a bucolic estate that comprised fishing kampongs, marshes, plantations, and beachside bungalows. In fact, a Pasir Ris heritage trail was unveiled by the National Heritage Board a few years ago to showcase the rich history of the town, in a route that will cover places like the Sakya Tenphel Ling Tibetan Buddhist temple, the Masjid Al-Istighfar, Sungei Api Api, and Singapore's only commercial saltwater fishing pond in Pasir Ris Town Park.

Modern conveniences within easy reach
Apart from seaside adventures and sporty pursuits, residents can enjoy all the modern conveniences of living in a mature town. The shopping mall within the Pasir Ris 8 development will provide hours of retail therapy, and beyond that there are the White Sands Mall and Downtown East nearby. Just one MRT stop away, residents will find even more retail and F&B options at the Tampines Regional Centre, where the Tampines Mall, Century Square, Tampines One are located.

In particular, Downtown East - a lifestyle, recreational and entertainment hub - should provide lots of fun for the family at its Wild Wild Wet water park, nature inspired D’Resort, and dining offerings at its Market Square.

Pasir Ris 8, with its fresh commercial offerings and well-designed homes, looks set to be the new focal point in the area.

Seamless connectivity
Strategically sited next to the Pasir Ris MRT station, residents at Pasir Ris 8 will enjoy seamless connectivity to various parts of Singapore, including regional commercial hubs in Paya Lebar and Tampines. It is also a direct train ride to the central business district in Raffles Place.

In the near future, the Pasir Ris MRT will also be connected to the upcoming Cross Island Line (CRL), which will link Pasir Ris to the Punggol MRT station on the North East Line. The Land Transport Authority had said that with this, the commute from Punggol Central to Pasir Ris via the MRT extension will take about 15 to 20 minutes, down from 40 to 45 minutes via the bus currently.

Jobs and schools closer to home
In addition, there are many job opportunities near Pasir Ris, thanks to decentralisation that brought companies out of the CBD, as well as new growth hubs to continue to power Singapore ahead. Employment nodes nearby include the Tampines Regional Centre, the Changi Business Park, the Changi Airport, the future Changi East development, and the Pasir Ris Wafer Fab Park, where wafer fabrication and advanced display companies are based.

Residents with school-going children will also have a wide selection of schools in the vicinity such as Elias Park Primary School, Park View Primary School, White Sands Primary School, Meridian Secondary, Hai Sing Catholic School, Tampines Meridian Junior College, ITE College East, Temasek Polytechnic, and the Overseas Family School.

About the developers
Allgreen Properties and Kerry Properties won the dual envelope concept and price revenue tender for this Pasir Ris Central site with a top bid of nearly $700 million. This translates to about $684.48 psf per plot ratio based on the total gross floor area of 1.02 million sq ft for the entire development. The two firms are part of the Kuok Group of Companies under Malaysian tycoon Robert Kuok.

One of the largest property groups in Singapore, Allgreen Properties has a diversified portfolio of commercial properties and residential projects. They include Great World City, Tanglin Mall and Tanglin Place, as well as several high-end residential projects such as Royalgreen, Juniper Hill, Forth Avenue Residences, Suites at Orchard, and more.

Meanwhile, Kerry Properties, which is listed on the Stock Exchange of Hong Kong has developed a number of prime residential and mixed-use projects in major cities including the Jing An Kerry Centre and Kerry Parkside in Shanghai, the Beijing Kerry Centre, as well as numerous residential developments in Hong Kong and overseas.

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