Fringe Living: New Condo Project In Pine Grove Set To Excite Buyers

The Pine Grove (Parcel B) site is an upcoming residential development in District 21 (Bukit Timah, Clementi). Situated in the city fringe or Rest of Central Region (RCR). The 99-year leasehold project has the potential to offer up to 565 housing units.  

In the recent tender that closed on 7^th November, the 2.50-hectare land parcel in Pine Grove (Parcel B) garnered moderate interest from developers. The tender attracted bids from several developers, with a top bid of $692.4 million which translates to a land rate of $1,223 per square foot per plot ratio (psf ppr) from Golden Ray Edge 3 Pte. Ltd. (a joint venture between MCL Land and Sinarma Land). This rate is 7.2% lower compared to the neighbouring government land sales (GLS) site, Pine Grove (Parcel A) which was awarded to a joint venture comprising UOL Group and Singapore Land Group in June 2022 for a bid price of $671.5 million, reflecting a land rate of $1,318 psf ppr.

The adjoining plot at Pine Grove (Parcel A) was launched for sale as Pinetree Hill in July 2023. Based on URA Realis caveats data (as of 3^rd Nov 2023), 152 units out of the total 520-unit project have been sold (29%) at an average selling price of $2,373 psf. PropNex anticipates launch prices for the Parcel B plot could be relatively in line with that of Pinetree Hill.

Enjoy the best of both worlds with city fringe living

The Pine Grove (Parcel B) plot is at the intersection between Ulu Pandan, Holland Village and Clementi. The site offers residents the best of both worlds – a quiet respite from the hustle and bustle of the urban living, while providing them convenient access to amenities in the city and in the heartlands.  

For their daily needs and necessities, residents may do their grocery run at the quaint HDB shops at Sunset Way or at the Cold Storage Jelita Shopping Centre. Residents are also just 10 minutes from the heartland town centre at Clementi Central. The town centre encompasses the Clementi Hawker Centre and Wet Market, as well as the Clementi Polyclinic, providing residents with a variety of amenities and services. The town centre is also home to a cluster of commercial malls namely, Grantral Mall, The Clementi Mall, and 321 Clementi which offer more retail and dining options.

For residents who are looking beyond heartland offerings, the project is just a 5-minute drive from Holland Village. The commercial cluster is a well-known lifestyle enclave, beloved by locals and foreign expatriates. During the day, foodies and café-hoppers fill the Holland Village food centre, popular cafes and bakeries along Lorong Liput and Chip Bee Gardens. At night, the enclave transforms into a nightlife hub, with bars and pubs packed full of patrons, comprising of expatriates and office workers looking to unwind. The Holland Village commercial node also comprises several malls, including the Raffles Holland V, Holland Road Shopping Centre, Holland Piazza, as well as the upcoming mixed-use development at One Holland Village.

Nature lovers will also appreciate the project’s close proximity to the various green spaces in the area. Residents can enjoy the lush greenery along the pathways of Ulu Pandan Park connector while they go on a relaxing stroll or an energising run. Hiking enthusiasts can also explore the trails connected to the Clementi Nature trail, which leads up to Maju Forest, and Clementi Forest. There is also the Rail Corridor, a 24-km trail stretching down from Tanjong Pagar Railway Station, to the Bukit Timah Nature Reserve, and all the way up to Kranji.

The area would also see further developments in the Ulu Pandan Park Connector, with the expansion of the Green Corridor. The new developments along the trail will include a linear park along the Ulu Pandan Canal with an expanded park connector linking up to Dover and Buona Vista MRT stations, further enhancing the accessibility for residents.

In addition, HDB is planning to launch a commercial node beside Dover MRT station which will offer an array of commercial and leisure facilities to the upcoming public housing estate in the area. The commercial podium will feature shops and dining options, providing new residents with added convenience.

The development is situated near various schools, making it an attractive option for families with school-going children. They include Henry Park Primary School, Pei Tong Primary School, New Town Secondary School, Nan Hua Secondary School, Singapore Polytechnic and National University of Singapore (NUS).

In terms of connectivity, the Pine Grove (Parcel B) site is a short bus ride to several MRT stations, including Dover and Clementi MRT stations on the East-West Line, as well as the Holland Village MRT station on the Circle Line. All three train stations take commuters to the city centre and nearby business hubs, such as One North and Harbourfront within 15 to 25 minutes. In addition, the Clementi MRT station is also slated to become an MRT interchange with the Cross-Island line (CRL) by 2032, which will cut down commuting time for those travelling from the west to the eastern and north-eastern parts of the island.

For commuters who drive, they will be well-served by the transport infrastructure in the area, with links to major roads and expressways such as the Pan-Island Expressway (PIE) and Ayer Rajah Expressway (AYE). This provides commuters with seamless connectivity to key destinations such as Changi Airport, Tuas, and the central business district.

About the Developer:

MCL Land is a member of the Jardine Matheson Group under Hongkong Land Holdings. The Group owns and manages more than 850,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong, Singapore, Beijing and Jakarta. MCL Land is a leading residential developer with a legacy of iconic residential developments in Singapore and Malaysia. Some of its notable projects include Copen Grand EC, Leedon Green, J Gateway, Parc Esta, Margaret Ville, Lake Grande, and Sol Acres.

Sinarmas Land is one of the leading real estate developers in Indonesia. Established in the 1980s, it has developed more than 70 developments to date. It is listed on the SGX-ST and headquartered in Singapore, with operations in Indonesia, China, Malaysia and Singapore. The group owns around 10,000 hectares of a strategic land bank (as of 2011) with projects in city development, township, residential, commercial, retail, industrial estates, and hospitality properties, including property-related services.