Condo Watch 2010: Part 2
The
next in our four-part series of mass market condos to watch in 2010
brings us to a former HUDC in the north east. Read on to find out
where and what.Minton Rise (en bloc - 2007)
This former HUDC estate was bought by Kheng Leong (a company owned by UOB's chairman, Wee Cho Yaw) in the heady days of early 2007. The 342 apartments in Hougang were sold in a collective sale for $209 million back then. This is a massive site - the new 99-year leasehold condo is expected to have about 1,100 units.
Launch date is still a big unknown, our crystal ball says we'll see it coming up next year, so that's why we put it in this list.
Condo Details
Lease: 99 years
Developer: Kheng Leong
District: 19
Amount paid: $209m ($312.5m after adding development charges and lease top-up)
Estimated number of units: 1,000 - 1,100
Estimated price: $715 - 735psf
Location Map
Image: Google Maps (note: site outline is approximate)
Street View
Image: Google Street View
Location-wise it's smack in-between two town centres. Future residents get to choose between Serangoon MRT and the future shopping mall Nex, as well as Kovan MRT and Heartland Mall. Both MRTs are not within walking distance, but the condo is well served by buses, especially along Lorong Ah Soo.
If the estimated price turns out to be correct, the condo would be very attractive to budget-conscious HDB upgraders. That said however, looking at current prices for new 99-year condos, those estimates looks rather unlikely. But then, who knows?
Keep this place in your condo-to-visit list.
Required reading: Asiabuilders - "Kheng Leong bags Minton Rise" and H88 Directory - Minton Rise
That's the second of the four in our series of condos to watch in 2010. Read the first one here. More coming up next week. Stay tuned.What do you think? Tell us!
Posted on 18-12-2009 12:19 | By John
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