With Sims Drive undergoing progressive transformation, property developer GuocoLand has announced it will be developing the first prime private residential development in the area.
Located at the junction of Sims Drive and Aljunied Road on the city-fringe, the 99-year leasehold Sims Urban Oasis will comprise eight blocks of 1,024 units catering to singles, young couples and those with large families.
These include compact suites of one- to three-bedrooms focusing on ergonomics and functionality, SOHO units designed for flexible work life balance, lifestyle apartments offering premium finishing, and deluxe units of three- to five-bedders catering to multi-generation families with an option of dual-key function.
Prices of the units will only be released at a later date. But a check on URA caveats data of completed apartments revealed that a 99-year leasehold unit at nearby Sims Green measuring 1,249 sq ft was moved in March this year for $1.13 million, translating to a psf price of $905.
Before developing the 2.4ha land parcel, GuocoLand led consumer focus group interviews with potential buyers and residents in the area to get their insights for creating the spaces.
Aside from the standard condo facilities like swimming pools, a gym, tennis court and 500-metre jogging track, the project will also house a convenience store, cafes, and a child-care centre.
Cheng Hsing Yao, Managing Director of GuocoLand Singapore, believes the project is in an excellent location.
“On the one hand, it is very convenient; just a short drive to the CBD and a short walk to the Aljunied MRT station. On the other hand, it is located along a quiet and charming street. The nearby Singapore Sports Hub, Paya Lebar Sub-Regional Centre, James Cook University and many other new developments will create more jobs, attractions and demand for good quality housing in the area. Sims Urban Oasis caters to this demand, and Sims Drive, in time, can become a highly sought-after residential address,” he shared.
Early mover businesses and entrepreneurs have already set up new hip cafes, restaurants, fitness and activity centres in the area tapping on the growing number of residents and expatriates.
Sims Urban Oasis is expected to launch in the first or second quarter of 2015 while the expected date of vacant possession is 2020.
Image: Artist’s impression of Sims Urban Oasis looking towards the Sports Hub. (Photo by GuocoLand)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
