Property developer MCC Land is launching its first residential project, The Canopy EC, this weekend.
The 99-year leasehold project comprises two-, three- and four-bedroom apartments with sizes ranging from 872 sq ft to 1,410 sq ft. The 406-unit project also features penthouses sized from 2,088 sq ft to 2,239 sq ft, with prices expected to range from $600 psf to $700 psf on the average.
Situated in the well-established estate of Yishun, The Canopy is supported by a wide range of amenities and schools. The eco-friendly project is also a recipient of BCA Green Mark Gold Plus Standard.
“We made a conscious decision to build a basement carpark to maximise greenery on the surface level. Given that we are catering to families with young children, we want to ensure that there are enough open spaces. The apartment sizes are relatively larger than previous EC projects. With its affordable pricing, we are confident that The Canopy will attract a lot of interest,” said Tan Zhi Yong, managing director of MCC Land.
Mr. Joseph Tan, executive director for residential at CB Richard Ellis (CBRE), which is the marketing agent for the property, said: “We expect keen interest from first- time buyers who will be able to make use of the $30,000 CPF housing grant, less immediate cash outlay compared to HDB resale flats and with no Cash Over Valuation to pay.”
“Financing has also been eased for upgraders who need not pay a resale levy ranging from $15,000 to $50,000 when they buy a new EC flat,” he added
Executive condominiums are staging a comeback following a five-year hiatus as the government intervenes to boost flat supply for middle-income homebuyers.