Singapore developer Frasers Centrepoint Limited (FCL) will open the showflat of its latest residential development in Yishun for buyers to preview from this Saturday onwards.
North Park Residences will comprise 920 units and is part of NorthPoint City, an upcoming integrated development by FCL.
Apartment layouts range from one- to five-bedrooms from 431 sq ft to 1,432 sq ft.
Set to be completed in 2018, the entire complex is expected to transform the living environment of residents in Nee Soon, and will integrate residential, retail, an air-conditioned bus interchange and the first community club within a mall, all of which will be linked to Yishun MRT station via a shopping underpass.
Aside from private condo facilities, residents will have ‘doorstep’ access to an integrated transport hub, the Yishun Public Library, Nee Soon Central Community Centre, a childcare centre, town plaza the size of 10 basketball courts, and over 500 retail and F&B outlets.
Donald Han, Managing Director of Chestertons Singapore, noted that integrated developments offer an attractive investment opportunity.
“Typically, integrated developments have done well in Singapore’s property market. But there are not too many options available and therefore we can expect to see keen receptiveness when a new one is released into the market,” he said.
Han also expects to see significantly improved rental yields for units at North Park Residences, since the development is surrounded by commercial facilities with a large number of overseas employees in need of nearby housing.
In agreement, PropNex Realty Chief Executive Officer Mohamed Ismail anticipates keen interest for this project.
“The Government’s cooling measures on the property market have effectively tamed pricing strategies, so developers are conscientiously ensuring that the price is right and as attractive as possible to buyers today.
“When the development is close to an MRT station and is serviced by a well-connected network of roads, nearby schools and medical facilities, there is a strong pull factor for buyers. The cooling measures had a more muted effect on properties with these advantages,” he added.
Prices of the units will only be released during the official launch which is expected to take place at end-March.
Image: Facade of North Park Residences. (Source: FCL)
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
