Property portal 99.co presents the following weekly property news roundup for the week of 22 to 28 August:
#1: Macly Group to launch boutique condo near Paya Lebar on 29 August
Local developer Macly Group is set to launch NoMa, a 50-unit freehold residential condominium along Guillemard Road in District 15.
NoMa sits on a 13,727 square feet (sq ft) site, which is formerly occupied by five terraced houses. Macly Group had purchased the homes for $20.55 million in January 2018.
Expected to be completed by end-2023, NoMa is located about 500 metres away from Dakota MRT station, and within walking distance to Kong Hwa School and Old Airport Road Food Centre. Residents also have easy access to the CBD and the commercial hub at Paya Lebar.
To attract buyers, the developer is offering early-bird discounts of 13% to buyers who purchase units on 29 August (Saturday). Prices will start from $715,750 for a one-bedroom unit. A selected number of four-bedroom units have private lifts.
Find out more about the development here or call 6100 9266 to enquire about visiting the showflat.
#2: HDB sacks building contractor for Punggol BTO over missed project milestones
Buyers of the Waterway Sunrise II BTO project at Punggol will have to endure a one-year delay after HDB terminated the services of building contractor, Lian Ho Lee Construction, after it informed the authority that it was no longer able to continue operations.
HDB has commenced the process of bringing a replacement contractor on board, but stated it will take time due to Covid-19. In the meantime, HDB has appointed a contractor to secure the site and to provide environmental control services, such as preventing the breeding of mosquitoes.
[Read the full story here.]
#3: City-centre conservation shophouse sold at $12.9 million profit
A 999-year leasehold corner shophouse at 65 Club Street has been sold for $15.7 million. The shophouse, which has conservation status, covers a land area of 2,083 sq ft and has a built-up floor area of 5,400 sq ft across 3 storeys with a mezzanine level.
Formerly transacted $2.8 million in 2006, the deal represents a $12.9 million profit for the seller. In the meantime, two pairs of shophouses at Club Street have been put up for sale at around $25 million and $50 million respectively.
#4: Developer seeks to offload six condo shop units in Aljunied
Six strata-titled shop units at Sims Urban Oasis, a condominium at Aljunied, have been put up for bulk sale by developer Guocoland.
The shop units are located at the entrance of the 1,024-unit development, which is within a 5-minute walking distance from Aljunied MRT station.
To facilitate a quick sale, Guocoland has grouped the units into clusters of two and four shops for sale with a 21% bulk discount. After the discounts, the cluster of two shop units is priced at about $2.9 million for a total strata area of 1,206 square feet, whereas the cluster of four shop units is priced at about S$4 million for a total strata area of 1,690 square feet.
Further sweetening the deal, Guocoland has decided to dangle a guaranteed two-year 5% per annum return for buyers of the shop units.
As commercial real estate, the shop units are open to foreigner purchase and are not subject to Additional Buyer’s Stamp Duty (ABSD).
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About Kyle Leung
Content Marketing Manager @ 99.co
Looking to sell your property?
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