The Criterion EC Yishun

The last Executive Condominium site to be sold alongside Choa Chu Kang Drive, and in a much better location as well, had a winning bid by Sim Lian Land of $361 per square foot, per plot ratio. This was during September of 2014 and the site was adjacent the newly completed The Criterion EC The Rainforest Executive Condominium and around 600 metres from the Choa Chu Kang MRT Station. Sim Lian Land is expecting to launch a 538 unit project as early as next year.

During February of 2014, two sites that were adjacent to each other alongside Choa Chu Kang Way and Choa Chu Kang Grove were purchased by MCL Land for $375 and $339 per square foot, per plot ratio, which equates to an average figure of $357 per square foot, per plot ratio.

The Criterion EC in Yishun

MCL Land plans to develop these combines sites into a project called Sol Acres EC with 1,327 units. 707 units will be marketed during the 1st phase of this project’s launch and has had close to 800 e-applications made so far. August 22nd will be the opening date for sales bookings in The Criterion EC.

The project itself is just a short distance from two LT stations that connect to the Choa Chu Kang MRT Station. It will also connect with the future Bukit Panjang MRT station. Furthermore, the Sol Acres EC project will provide a large range of family oriented facilities, such as two tennis courts, three swimming pools and three club houses. The buzz in the market is that Sol Acres’ units will have an average price of just under $800 per square foot.

Criterion EC by City Developments

As for the latest Choa Chu Kang Avenue 5 site’s tender, the key executive officer for ERA Realty, Eugene Lim, has shared that, due to the tenders much lower land figure, the new project development may well be created with affordability in mind and offer a selling price that will be under $800 per square foot.

It has been estimated by those watching the market that the Qingjian group’s break even price will be close to $700 per square foot, given that they will more than likely do the construction of the project for┬áThe Criterion EC themselves.

For this most recent tender, Qingjian Realty got together with Bohai Investments and Suntec Property Ventures. Suntec is controlled by the shipping mogul Frank Tsao and Bohai is a branch of Qingjian South Pacific Group, like Qingjian Realty.

The Criterion EC

According to Qingjian Realty’s general manager, Li Jun, this most recent Executive Condo project will be the 7th for Qingjian in Singapore. The group is expecting to launch this new project between late 2016 or early 2017. He shared that the new project will combine smart living features in The Criterion Yishun that will include their recently launched applications known as HiLife mobile.

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