Hundred Palms Residences sold out record sales of 100% within 7 hours, making this the fastest sale. The reason for the fast sales was because of low land bank supply for these executive condos. We are now waiting to witness one more 100% sales record for Rivercove Residences EC at Anchorvale Lane. The executive condominium (EC) bid successfully by Hoi Hup Realty on Aug 2016 beating the other 15 developers. Hoi Hup is recognized as the dominator of two latest executive EC launches for 2017 and 2018.
The two projects are to be found in District 19. Hoi Hup tendered project land for $335 psf for each plot ratio. This is a little higher than that of Hundred Palms Residences. Rivercove Residences is the name of the new project which is to yield about 630 EC units of 3-5 bedroom types. The name of Rivercove Residences is inspired from its location next to river bay of Sungei Punggol. Hoi Hup Realty residential developer has established 34 years ago. It has over 31 condominiums launches completed and is presently developing Sophia Hills located at Dhoby Ghaut.
Hoi Hup has two executive condominium pipeline developments in District 19. It’s been over a year since the earlier nearby EC, Treasure Crest was opened for sale at the Anchorvale Crest. The project is located in the mature residential estate plus it’s fairly close to town. It’s within 1km near the renowned Nan Chiau Primary School. This school gives developers high confidence in a high demand from young couples intending to enroll their kids in the school. Situated in Sengkang West, the Rivercove Residences EC is a greatly pre-planned town with very good schools and a range of amenities.
Hougang is served by an integrated transport hub making it well connected to other parts of the island via public transport. The residences can be accessed via CTE, TPE, and KPE to Other parts of Singapore. Getting to the city is only a 25-minute drive. Once the North-South Expressway (NSE) is completed, the travel distance gets 5-min shorter. This will connect the Cross Island Line (CRL) from Jurong, West Coast, Ang Mo Kio, Clementi, Hougang, Bukit Timah, Pasir Ris, Loyang, Punggol, and Changi. Meaning, the CRL will offer a quicker shortcut route from Hougang and to east or west of the island.
Distinctive Selling Points
- Very low availability of executive condominium in the market
- The renowned Nan Chiau Primary less than 1km.
- Have a beautiful unblocked view.
- By a high-end developer, Hoi Hup Realty
What Analysts Are Saying About The Rivercove Residences Showflat
Sengkang has recently been hot in the recent months. The close by Hundred Palms Residences sold out completely within hours. The demand is certainly high for EC units in the area. It’s for this reason that developers like Hoi Hup Realty are excited about launching new projects such as the Rivercove Residences. The demand for ECs is still high and it’s yet to be filled. As evidenced by the other ECs that are selling fast in this area. The project is expected to launch in early 2018, with a very competitive PSF $price being about 800-900.
Many aspiring homeowners and property investors alike will need to look out for this dynamic property launch and not missed out what seems to be a golden opportunity to own a unit at a prime location by prime developers.