Special Look at Plantation Close GLS site: Second Upcoming EC project in Tengah Estate

Plantation Close EC: Second upcoming EC project in the burgeoning Tengah estate

Plantation Close in Tengah will soon welcome another new executive condo (EC) project, as the land tender for the second EC site at the locale closed on 1 February 2024, garnering four bids.

The highest bid was placed by the joint venture between Hoi Hup Realty and Sunway Developments, which submitted a top bid of $423.4million (translating to $701 psf per plot ratio). The land rate of $701 psf ppr is just a touch lower than the $703 psf ppr achieved at the adjacent plot (also in Plantation Close), which was awarded in September 2023 to the same joint venture developers.

Based on estimates, the second Plantation Close EC plot can offer about 560 executive condo units and will likely find favour among many buyers amidst the limited stock of unsold new ECs on the market currently. ECs are typically more attractively priced compared to private homes as they are a type of public-private housing hybrid.

In October 2022, Copen Grand – the very first EC project in Tengah – enjoyed a strong take-up rate of more than 70% when it was put on the market. With Copen Grand now fully sold, home buyers will turn their gaze towards the two upcoming EC projects in Plantation Close.

Unlocking Future Demand in Tengah

While this marks the third executive condominium (EC) site in Tengah, buyers still stand a chance to secure a first-mover advantage by buying into this project. With the Housing and Development Board (HDB) releasing thousands of new Build-to-Order (BTO) flats in Tengah, EC buyers can position themselves to potentially tap the HDB upgraders’ demand in the Tengah town in the future.

Looking ahead, many flat owners in Tengah may contemplate upgrading to private homes after fulfilling their 5-year minimum occupation period. By then, ECs in Tengah will be eligible for resale to local buyers, providing an exit strategy for EC owners looking to explore other residential properties in their asset progression journey.

As Tengah undergoes development, there are compelling reasons for home buyers to be enthusiastic about this new town. Tengah is set to become the first HDB estate planned with smart technologies, with an emphasis on wellness, nature, and green features throughout the township.  

Proximity to the Jurong Lake District

Beyond Tengah's exciting prospects, the upcoming Plantation Close EC is strategically located near the Jurong Lake District (JLD), envisioned as the largest mixed-use business district outside the central business district. The JLD will offer a variety of commercial options, including offices, amenities, green spaces, recreation, tourism attractions, and additional housing choices. Living close to this thriving commercial hub not only provides convenience but also presents the potential for owners to rent their units to individuals working in the JLD when the ECs become eligible for leasing.

Seamless Connectivity

The EC project will be conveniently located between two upcoming MRT stations on the Jurong Region Line (JRL): Tengah Park and Bukit Batok West stations, expected to be operational by 2028. The JRL, featuring 24 new stations, will enhance connectivity for residents in the West - with interchange stations at Boon Lay, Choa Chu Kang, and Jurong East MRT stations. Additionally, the site offers commuters easy access to the Pan Island Expressway, Jurong Road, and Bukit Batok Road.

Schools and Amenities

There are several schools within a 1-kilometer radius of the EC project - such as Jurong Primary, Princess Elizabeth Primary, and Yuhua Primary School. Meanwhile, secondary and tertiary education options in the area include Bukit Batok Secondary, Jurongville Secondary, Fuhua Secondary, and Millennia Institute.

The site is also near the future Anglo-Chinese School (Primary) which will be relocated from Barker Road to Tengah in 2030. Furthermore, the Ministry of Education has announced the opening of two more primary schools in Tengah: Pioneer Primary in 2026 and an as-yet unnamed primary school in 2028.

Although there are currently no ready-built amenities in Tengah, the ongoing town development will introduce more facilities to meet residents' needs. In the meantime, retail and dining options such as JEM, Westgate mall, and IMM mall in Jurong East are conveniently accessible from the EC site.

About the developers

Hoi Hup Realty is a well-established local property developer founded in 1983.  It has a strong track record in the development of residential properties, having successfully completed a diversified portfolio of property developments comprising private condominiums, landed housing, cluster-strata housing, executive condominiums, and mixed-use commercial developments. Some of their notable projects include Ki Residences at Brookvale, Terra Hill and The Continuum.

Sunway Group is a Malaysian conglomerate with diverse business interests in property, construction, education, healthcare, retail, and hospitality. In Singapore, Sunway Group's presence is primarily through its subsidiary, Sunway Developments Pte Ltd, which has been involved in numerous residential and commercial projects with its long-time partner, Hoi Hup Realty, since their first joint venture project in 2007.