Watercolours makes a splash at Pasir Ris
A spanking new Executive Condo (EC) has landed in Pasir Ris, and it looks set to give the other condos a run for the money. Inspired by colours and lots of greenery, the aptly-named Watercolours looks vibrant, judging from the artist’s impression. What sets it apart from the other condos in the vicinity is that is doesn’t have as much emphasis on the beach or the sea. Instead, the developers have chosen to focus on colours. We hope it looks vibrant in real life, though. Read on for a more details!
Back in October last year, this site saw a colossal 11 bids. In a joint venture, developers Maxdin and Ho Lee Group put in a cool $122m for this site, fending off the other 10 developers. This site is the last of four sites in the same area that have put up for tender under the GLS. The cost works out to roughly $290psf ppr, by the way.
Developer: Joint venture between Ho Lee Group and Maxdin
Tenure: 99-year leasehold
Site Area: 167,659 sqft (approximate)
Storeys: 11 and 12
Estimated TOP: 2016
It looks like they have quite a few facilities, although most of them are the standard ones. Here are the ones that stand out (and what we think they are):
Mosaic Pavilion - fancy name for a shelter
Mural Gallery - fancy name for decoration by the drop-off point
Sensory Garden Trail - fancy name for garden with a path
Activity Terrace - fancy name for another shelter
There are no less than 10 primary, secondary and tertiary institutions in the vicinity, including Meridian Junior College, Coral Primary and Hai Sing Catholic School. Great if you have kids or plan to.
Of course, the main draw of this plot is its close proximity to Pasir Ris beach/ park. Otherwise, why would so many developers put in their bid for this site? Oh, and the higher units may get a view of the sea, if it’s not blocked by an upcoming condo to its north called Sea Esta (stay tuned for our coverage on that!).
URA caveats reflect an average selling price of $700 psf over at Belysa, the first EC in Pasir Ris.
Judging from the final cost of this plot, we reckon the selling price will be between $750-$800 psf. Given the popularity of Belysa, we think Watercolours will also do well.
Pasir Ris looks to be one of the more popular places in which developers are paying more attention to, with many new condo projects springing up in the area. Plus, Watercolours is an EC, so we’re foreseeing lots of interested first-timers. For those of you who are interested, Watercolours launches tomorrow (a public holiday - how convenient!) so pay the showflat a visit.
Good luck with e-Applications!
Posted on 30-04-2012 19:01 | By John
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