A new Executive Condominium (EC) known as Lake Life in Jurong expected to be launch in the 3rd quarter after more than 10 years. The land at Yuan Ching Road / Tao Ching Road was sold on 2nd Aug 2013 in a government land sale to Evia Real Estate.
The project starts getting attractive after the recent sales of Jurong Gateway that is just next to Jurong East MRT that is going around $1,700psf to $1,800psf that is around the price of district 10 projects. This was not achieved after many months of effort, but was fully sold out within a day. That evening it was fully sold was also the day MAS announce of the implementation of Total Debt Servicing Ratio (TDSR) to promote more prudent in lending.
Given that this is going to be the new EC launch and with the latest EC measures, it is likely to be price competitively to entice buyers and would likely to form one of the base price for condominium in the district.
Given the fact that Jurong Gateway had transacted at record prices, conservatively is very likely that the EC will gain no less than 50% after 10 years later when it is full privatise.
Not forgetting that the government had indicated in the Master Plan that it will have major plan for Jurong Lake District. How wrong could you be if you are buying into a location where the government is going to have major development.
In the Draft Master Plan 2013, it had continue the government effort to decentralise. This is a move to relocate ministry outside the city areas, making more spaces for commercial and residential projects. Agri-Food & Veterinary Authority of Singapore (AVA) and Building and Construction Authority (BCA) has confirmed to be moving to Jem’s office tower in Jurong next year. Ministry of National Development Board will follow later. Eventually these ministry will be located at Jurong Lake District. With this move, it goes to say that there are a lot potential in this area and particularly for this EC.
To preserve your wealth and grow it at the same time not spending very much, you should consider buying into the new EC in Yuan Ching / Tai Ching Road. It is really hard to go wrong by following closely behind the Singapore government. It is likely to be another sold out project within a day.
Quick Facts on the land
- Site Area – 20,213.1 sqm
- Site GFA – 60,639.3 sqm
- 99 Years Leasehold project
- Estimate launch price is around $900psf
- Near to IMM, Westgate, JCube, Jem, Jurong Point, Taman Jurong Shopping/Market/Food Center and Boon Lay Shopping center.
- Near to Jurong Stadium
- Located next to Jurong Lake District where in the Draft Master Plan 2013 had highlighted major plans there.
- Hotel by RWS
- SAFRA Jurong
- Canadian International School
- River Valley High School
- Yuhua Secondary School
- Yuan Ching Secondary School
- Jurong Secondary School
- Lakeside Primary School
- Boon Lay Garden Primary School
- Jurong Junior College
The project is near to PIE and AYE, you can expect to reach Orchard on cars in about 30 minutes.
Watch out for more updates on this EC, or you can leave me a note and I’ll call you once more information of the project is ready.