More Homes Lined Up In Jalan Tembusu Amid Healthy Demand

More private homes will become available in District 15, in Jalan Tembusu with another government land sales site lined up. The 99-year leasehold plot is opposite Tembusu Grand and will potentially yield 840 new homes.

In a tender which closed on 18 July, the 2.05-ha site in Jalan Tembusu garnered two bids, with Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd, entities of Sim Lian Group, putting in the top bid of $828.8 million, which translates to a land rate of $1,069 psf per plot ratio (psf ppr). The top land rate is significantly lower by 18% than the $1,302 psf ppr land rate achieved by the Tembusu Grand GLS plot across the road, which was awarded to City Developments Limited in January 2022.

Depending on the site award date, the latest GLS site in Jalan Tembusu could likely be launched for sales booking in the second half of 2024 – meaning that there would be a time buffer between its potential launch and other new projects that have come on in District 15 (such as Tembusu Grand, The Continuum, and Grand Dunman) this year.

Despite the recent uptick in the supply of new private homes in District 15, PropNex expects buyers to remain keen on new homes in the district, as it among the most desirable housing locations in Singapore. This interest can be observed in the resale market, where District 15 was the second most popular district in 2022, with more than 1,000 resale non-landed homes sold.

Buyers tend to be drawn to District 15, given its proximity to a myriad of retail and food options in the Katong and East Coast Road areas, as well as numerous schools in the vicinity.

Beach life and food enclave
Future homes on the Jalan Tembusu site will offer residents easy access to a wide range of amenities and recreation options. These include the Parkway Parade Mall, Katong Shopping Centre, i12 Katong Mall and commercial offerings at Paya Lebar (PLQ Mall, Paya Lebar Square and the SingPost Centre).

With a wide variety of restaurants, cafes and hawker delights located along the stretch of Katong-East Coast Road, the area is a gourmet heaven for foodies. For local food fare, the Marine Parade Central Market & Food Centre, Dunman Food Centre, and Old Airport Road Food Centre are also not too far from the project.

Residents who are avid hikers and cyclists will enjoy being near to the East Coast Park beach, which provides a wide range of F&B as well as recreation offerings. The park connector further links them to popular gathering spots like Changi Village and Marina Bay.

Families with school-going children or those looking to have kids will enjoy the convenience of being located near several schools, such as Tanjong Katong Primary School, CHIJ (Katong) Primary, Geyland Methodist Primary School, Haig Girls’ School, Kong Hwa School, Tao Nan School, Chung Cheng High School, Broadrick Secondary, Dunman High School, and the Canadian International School.

Connectivity
This area is well-served by public transportation and the upcoming development in Jalan Tembusu will be within walking distance of the Tanjong Katong MRT which is slated to be ready in 2024. The Thomson-East Coast Line (TEL) will offer direct access to the city centre including to Orchard Road, Shenton Way, and Marina Bay. When fully operational, the TEL will improve connectivity to between the north of Singapore from Woodlands to Bedok in the East.
The site is also easily accessible to major roads and expressways such as East Coast Parkway (ECP) and Mountbatten Road, providing seamless access to destinations such as Suntec City, Marina Bay Financial Centre, and Changi Airport.

Over time, the government’s plans to redevelop the space to be vacated by the Paya Lebar air base, and ongoing transformation of Changi East could also enhance the appeal of District 15, which is near to Paya Lebar, and a short-drive to Changi via the ECP.

About the developer
Sim Lian Group is an award-winning property developer with experience spanning over four decades in the Singapore property scene. The group has built an outstanding track record in residential development and expertise in construction. The group has a broad portfolio of residential, commercial, industrial, retail and mixed-use developments. Some of its most recent projects include The Botany at Dairy Farm, Hillion Residences, Treasure at Tampines, Treasure Crest and Wandervale.

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