Wednesday, April 21, 2010

Punggol gets two new HDB projects

Build-to-order developments, with eco-friendly features, will add 1,429 flats to the market

ANOTHER 1,429 flats will be up for grabs in fast-developing Punggol after the HDB launched two new build-to-order (BTO) projects yesterday.

The developments – Punggol Emerald and Punggol Waves – will deliver 188 studio apartments, 201 three-room units, 609 four-room units and 431 five-room units to eager home buyers.

Yesterday’s launches are part of a broader HDB plan to launch 12,000 flats in the first three quarters of this year amid strong buyer demand. In the first four months of the year, 5,082 flats have been offered. A further 1,100 BTO units will be launched in Yishun and Jurong West next month.

More future launches have been earmarked for estates such as Bukit Panjang, Sengkang and Woodlands. Construction of BTO projects is triggered once a certain level of sales has been achieved.

Punggol Emerald – located at the junction of Punggol Way and Punggol Central – will boast 188 studio apartments, 96 three-roomers, 350 four-roomers and 222 five-roomers.

Punggol Waves, located in Punggol Walk and south of the future Punggol Town Centre, will consist of 105 three-room flats, 259 four-room flats and 209 five-room flats.

Three-roomers of 65 sq m area at Punggol Emerald are priced at $166,000 to $200,000 while those at Punggol Waves will go for $150,000 to $186,000.

Four-room flats of 90 sq m area in Punggol Emerald are going for $262,000 to $323,000 while those at Punggol Waves will cost $243,000 to $301,000.

Five-roomers of 110 sq m area will cost between $333,000 and $403,000 at Punggol Emerald and between $330,000 and $385,000 at Punggol Waves.

Studio apartments at Punggol Emerald ranging from 35 to 45 sq m will cost $73,000 to $102,000.

Both developments will incorporate eco-friendly features to achieve energy efficiency, environmental protection and other green features, such as a secondary roof system to reduce heat, as part of plans to develop Punggol as an eco-town, HDB said.

It added that the BTO supply will also be supplemented by flats under the Design, Build and Sell Scheme, with the tender of a Yishun site closing on May 18 expected to yield about 700 units.

Ngee Ann Polytechnic real estate lecturer Nicholas Mak said both projects will probably be oversubscribed, with demand among home buyers still strong.

‘Although it is not as popular as the mature estates, Punggol as a new town is growing in popularity.’ He added, however, that Punggol Waves was next to the Tampines Expressway and might therefore attract a lower subscription rate than Punggol Emerald.

Applications for the new BTO flats can be made online at until May 3.

Source: Straits Times, 21 Apr 2010

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