Three new property projects — Oxley Bizhub at Ubi Road, Water Edge at Geylang and 10 Shelford at Dunearn — will be launching this week, as developers are taking advantage of the still favourable market.
Oxley Rising’s Oxley Bizhub at Ubi Road opened yesterday for single unit buyers after accommodating multiple unit buyers over the weekend. Pinnacle Development’s Water Edge at Geylang and 10 Shelford at Dunearn, which was developed by Adam Properties, will launch their previews on 27 and 29 April respectively.
Oxley Bizhub, the “first and only premium lifestyle industrial with pool and gym”, comprises three podium blocks and four tower blocks that house 728 commercial units. It features a new concept warehouse similar to shopping malls, with a private attached washroom in each unit.
Cheng Siew Meng, a property consultant, noted that unit buyers will provide their companies the “best corporate image” for being situated at the “iconic” building along Paya Lebar Road.
Contrary to recent reports that Oxley Bizhub is setting a new price benchmark of at least S$600 psf, the most affordable unit at the project with an average size of 1,000 sq ft is around S$400 psf.
Meanwhile, the Water Edge project comprises 98 residential units, with an average price of approximately S$500,000.
Buyers can expect potential increase in prices and rentals when Paya Lebar Commercial Hub is developed, said Candice Loh, Marketing Manager of Huttons Asia, adding that Geylang is the top yielding district for rental returns, at approximately six percent.
The development is also located near the Dakota and Moutbatten MRT stations, as well as City Plaza Shopping Mall and Tanjong Katong Complex.
For the 10 Shelford development at Dunearn, Ms Loh said the five-storey residential project offers “excellent” capital and “superb” rental yield.
“10 Shelford is an exclusive freehold condo located in (a) prime centralised location (in) District 11,” she said.
She also noted that the project, which houses 69 residential units, allows one to live in the “reputable” neighbourhood of Bukit Timah, which spells high capital appreciation.
Prices of units at 10 Shelford, with sizes ranging from 431 sq ft to 980 sq ft, start at S$800,000.