Sceneca Residence is a 268-unit condominium development with a ground floor commercial podium containing 19 commercial units. When completed, the development will be directly connected to the Tanah Merah MRT station.
The remaining issue to be resolved is for the developer to arrange for the Director of Housing (COH) to conduct site inspections of the sales office and show flats, a process that could take two to four weeks.
As of now, the developer, CML Land, has two excellent opportunities to launch the project: the first two weeks of December before the holiday season or the first two weeks of the Lunar New Year on January 22 next year.
The first window of opportunity in the first two weeks of December will depend on how soon COH inspections can be scheduled. late December is not a good time to launch the project, as many potential buyers may be traveling abroad for the holidays.
The next window of opportunity to launch Sceneca Residence is in the first two weeks of January. Most people will be back home from the year-end holidays and this would be a good time to launch before the Chinese New Year celebrations begin.
However, it is difficult to predict when the project may launch as the developer has not yet made a decision.
Given that Sceneca Residence is a mixed-use development integrated with a subway station, pricing for the project may be in line with, or even slightly lower than, recent launches outside of Central.
The 605-unit Lentor Modern at Lentor Central is the only mixed-use development in Lentor Hills. The development has a 96,000 square foot commercial podium that includes a 10,000 square foot child care center and 12,000 square foot supermarket. The development is directly connected to the Lentor Metro station on the Thompson-East Coast Line.
Since the launch of Lentor Modern on September 16, approximately 510 units (84.3%) have been sold at an average price of $2,103 per square foot.
Sky Eden@Bedok, a 158-unit condominium project in Bedok Central, is just one MRT stop away from Tanah Merah. The residential development is a redevelopment of the former Bedok Point Shopping Centre by Frasers Property.
Sky Eden@Bedok is also a mixed-use development with 12 split-level stores on the first floor. The development is located just a five-minute walk from Bedok MRT station.
Sky Eden@Bedok was launched on September 7 and was 75% sold on the first day. To date, 122 units (77.2%) have been sold at an average price of $2,103 per square foot.
