Blossoms by the Park | Photo by EL Development
Blossoms By The Park, a new project by EL Development in the one-north area, is set to launch previews on April 14th. The condominium will be priced between S$2,200 and S$2,400 per square foot (psf) upon completion. The development is located at 9 Slim Barracks Rise in District 5 and will feature a single 27-storey block with 275 residential units ranging from 1-bedroom to 4-bedroom sizes.
In addition, the 99-year leasehold project will have three floors of commercial space approved for food-and-beverage outlets and other retail offerings. The development sits on 85,648 square feet (sq ft) of land and was acquired by EL Development for S$320.1 million or S$1,245 psf per plot ratio in a state land sale in November 2021. EL Development was the winning bidder among 10 others, and analysts attribute the high bidding prices to the plot's proximity to the one-north business hub. The residential cluster of the site has a maximum permissible gross floor area of 256,956 sq ft, with a plot ratio of 3.0.
1-bedroom units with a study are available in two sizes, 549 sq ft or 689 sq ft, and are priced starting at about S$1.3 million, or S$2,352 psf. 2-bedroom units are available in sizes of 678 sq ft or 829 sq ft, and are priced starting at about S$1.5 million, or S$2,211 psf. Units with a study, at 721 sq ft or 872 sq ft, are available at a higher price of about S$1.6 million or S$2,198 psf.
The development's 3-bedroom units range from 1,044 sq ft to 1,259 sq ft and are priced starting at about S$2.3 million or S$2,183 psf. 3-bedroom dual-key units are available in sizes of 915 sq ft or 1,033 sq ft, and are priced at about S$2.1 million or S$2,276 psf.
For 4-bedroom units, sizes of 1,302 sq ft and 1,539 sq ft are available and are priced starting at about S$2.9 million or S$2,243 psf. 4-bedroom premium units come in sizes of 1,507 sq ft or 1,884 sq ft, and are priced starting at about S$3.3 million or S$2,213 psf.
Bookings for Blossoms by the Park are set to begin on April 29, and the development is expected to receive its temporary occupation permit (TOP) by December 31, 2026. EL Development is targeting investors and upgraders with its suite of 1- to 4-bedroom units, with prices ranging from S$2,352 psf to S$2,276 psf for units with a study, and up to S$3.3 million or S$2,243 psf for 4-bedroom premium units.
EL Development's previous project in the one-north precinct, One-North Eden, was fully sold after launching two years ago. The project sold 85% of its 165 units at its launch weekend, with selling prices ranging from about S$1,800 to S$2,250 psf. Hoi Hup Realty and Sunway Development also launched Terra Hill, a freehold development in Pasir Panjang, in February 2023 and sold 102 units at an average price of S$2,650 psf on its launch weekend.
Other recent sales in District 5 include Normanton Park, which sold about a third of its 1,862 units on the first day of sales in January 2021, and Parc Clematis, where an 893-sq-ft unit was sold for S$1.86 million or S$2,082 psf in March 2023.