New Waterfront Condo Project Slated In Faber Walk

A mature town in the West side of Singapore, Clementi marries a rich history with modern aesthetics and attractive amenities. Perhaps this is why the town is relatively popular with both owner occupiers and renters alike, making it a vibrant residential neighbourhood.

Within the bustling Clementi estate lies a serene and exclusive, private residential enclave in Faber Walk, where a new waterfront project is set to be launched. In a public land tender that closed on 19 November 2024, the Faber Walk government land sale site drew a top bid of $349.86 million from a joint venture between Guocoland, TID Residential and Intrepid Investments (Hong Leong Holdings). The top bid price works out to a land rate of $900 psf per plot ratio (psf ppr).

The 2.57-hectare site can yield approximately 400 units and is the first GLS site to be launched in Faber Walk in over six years, since the award of a West Coast Vale site in February 2018 where the Whistler Grand condominium currently sits. Other private residential developments in the area include Parc Riviera, Twin View, and Waterfront @ Faber. Given that there have been limited new launches in the vicinity, the future residential development in Faber Walk could likely see some pent-up demand.

Close to major town centres

One of the key highlights of this site is its location near to two prominent town centres, Clementi and Jurong East in Singapore. Particularly, its proximity to the upcoming Jurong Lake District (JLD) may offer some benefits as the precinct takes shape. For instance, the JLD is expected to bring jobs closer to homes, and provide more commercial offerings to residents. That will be on top of current amenities in Jurong East, such as Westgate, Jem and IMM mall.

Of note, the site is also not far from the International Business Park, as well as industrial buildings in the Pandan Loop and Toh Guan areas which could make future homes in Faber Walk appealing to those who work in these employment hubs, including JLD.

Meanwhile, residents may find a variety of retail and F&B amenities at Clementi centre, including at The Clementi Mall, Grantral Mall @ Clementi, and other offerings at the heartland's town centre.

Connectivity

The site in Faber Walk is located somewhere in between the Clementi and Jurong East MRT stations on the East-West Line - both of which are about a 15-minute bus ride from the plot. Presently, some consumers may not consider the Faber Walk location to be particularly near to an MRT station.

However, come 2028, the opening of the Pandan Reservoir MRT station on the Jurong Region Line (JRL) could further improve connectivity. In particular, the Pandan Reservoir MRT is two stops to the Jurong East MRT station which is an interchange station for the East-West and North-South Lines.

Overall, the JRL is expected to significantly enhance public transport connectivity in the Western part of Singapore, where the Jurong Lake District (JLD) is slated to become the largest business hub outside of the central business district. The JRL has three interchange stations - in Boon Lay, Choa Chu Kang, and Jurong East - which connects commuters to other train lines.

The Faber Walk site itself is also located close to the Ulu Pandan Park Connector, which runs along the banks of Sungei Ulu Pandan, between Commonwealth Avenue West and Bukit Batok East Avenue 2. With one side of the site facing the waterway, some units at the upcoming project will likely enjoy waterfront views. Meanwhile, units facing the landed housing area in Faber Hills could also get unblocked views of the neighbourhood.

Schooling options

Perhaps the biggest draw of Clementi is the variety of schools in the estate, ranging from primary to tertiary levels. Notably, the site is a short drive away from the National University of Singapore campus, along with being near other institutes like Nan Hua Primary School and High school, Clementi Primary School, Pei Tong Primary School, and Commonwealth Secondary school. In addition, Singapore Polytechnic is also a short bus ride away.

About the developer

GuocoLand is an award-winning developer firm with a diversified portfolio comprising residential, hospitality, commercial, retail and integrated developments spanning across the region. GuocoLand has been awarded with a number of accolades both locally and internationally, in recognition for its quality, innovative developments and commitment to business excellence. In Singapore, the Group has successfully developed 36 residential projects yielding approximately 11,000 apartments and homes. Some of its most recent projects include Midtown Modern, Midtown Bay, Wallich Residences, Meyer Mansion, Martin Modern, Leedon Residences, and Goodwood Residences.

Intrepid Investments is a subsidiary firm of Hong Leong Holdings. Hong Leong Holdings was formed in 1968 as Hong Leong Group's privately held property investment and property holding vehicle. It has since established itself as a major player in the property market, making it one of the most sought-after providers of a comfortable home. To date, it manages eight commercial projects and has developed close to 100 residential properties, including a range of mid- to high-end residential projects such as Penrose, Midwood, The Avenir, Sage, The Tate Residences.

TID Residential is a long-time partnership between Hong Leong Group and Mitsui Fudosan. Hong Leong Group is a Singapore MNC while Mitsui Fudosan is a one of Japan's leading real estate companies. The partnership has successfully developed and launched several residential projects in Singapore. Among them, The St. Regis Singapore Hotel & Residences, The Oceanfront @ Sentosa and the Optima @ Tanah Merah, One North Eden, Forest Woods, The Brownstone EC.