Tembusu Grand
Tembusu Grand, a residential project developed by City Developments Ltd (CDL) and MCL Land, will begin previews today, March 24th. The project, located along Tanjong Katong Road in District 15, will feature four 20 to 21-storey blocks with a total of 638 units. Over 80% of these units will be one to three-bedroom apartments.
Pricing for the units has been released, with one-bedroom units with a study starting at S$1.248 million (approximately S$2,368 psf) for sizes ranging from 527 sq ft to 646 sq ft. Two-bedroom units, which range from 667 sq ft to 883 sq ft, will start at S$1.548 million (approximately S$2,321 psf), while three-bedroom units sized from 990 sq ft to 1,399 sq ft will start from S$2.278 million (approximately S$2,301 psf).
Larger units, such as the four-bedroom units of 1,432 sq ft to 1,604 sq ft, will start at S$3.288 million (approximately S$2,296 psf), and five-bedroom units sized at 1,711 sq ft will be priced from S$4.028 million (approximately S$2,354 psf). Additionally, there will be two five-bedroom penthouses, each sized at 2,691 sq ft.
Sales bookings for Tembusu Grand will begin on April 8th.
With a land area of 210,622 sq ft, CDL and MCL Land acquired the site for their new development in January 2022 for S$768 million. CDL emerged as the highest bidder among the eight offers presented. The site has a maximum permissible gross floor area of 589,744 sq ft, equating to approximately S$1,302 per sq ft per plot ratio (psf ppr).
The new condominium boasts more than 40 recreational facilities, including four swimming pools, a yoga studio, a tennis court, and a gymnasium. Barbecue pavilions, a karaoke pod, and a children's playroom are among the additional amenities provided.
Each unit in the development will feature a smart-home system with state-of-the-art features such as digital lock sets, smart video doorbells, as well as smart air conditioning and lighting controls.
Situated a mere 8-minute stroll from the Tanjong Katong MRT station on the Thomson-East Coast Line, Tembusu Grand is ideally located near shopping centres, prominent schools in the east, as well as the Singapore Sports Hub, East Coast Park, and Singapore Indoor Stadium. It is also conveniently accessible to the Central Business District, Marina Bay Financial District, and Changi Airport via major expressways such as the ECP, PIE, and KPE.
CDL group chief executive officer, Sherman Kwek, expressed excitement about the launch of Tembusu Grand, stating that it is their first launch for the year, and they are thrilled to introduce another residential gem to the East Coast region, following Amber Park.
MCL Land chief executive, Rob Garman, anticipates robust demand for the project, citing its exceptional transportation connectivity and smart-living experience.
The area will also see the upcoming launch of The Continuum, an 816-unit development by Hoi Hup Realty and Sunway Developments, which will feature one-bedroom to five-bedroom units ranging from 52 sq m to 176 sq m. Additionally, SingHaiyi is set to launch Grand Dunman in the second half of 2023, a condominium that is expected to yield 1,012 units.
According to Tricia Song, the head of research for South-east Asia at CBRE, the launch prices for Grand Dunman are estimated to be in the range of S$2,200 to S$2,300 psf ppr. Despite its attractive location, the site received only two bids at its tender, which Tricia believes is due to its large size and competition from Tembusu Grand and The Continuum.
The last major residential condominium launch in the district was Liv @ MB, a 298-unit project by Bukit Sembawang Estates, which sold over 80% of its units at an average price of S$2,423 psf. The latest transaction for the project was the sale of a three-bedroom unit in March for S$2.984 million or S$2,475 psf.
Meyer Mansion, another major private residential development launched in the area in September 2019 by GuocoLand, sold 21 of its 200 units at an average price of S$2,747 psf during its launch weekend. Its latest sale was a three-bedroom premium unit of 1,399 sq ft for S$4.058 million in February.
Meanwhile, Amber Park, launched in May 2019 by CDL and Hong Realty, has sold more than 99% of its 592 units, with the last transaction being the sale of a five-bedroom premium unit for S$5.326 million or S$2,486 psf in February.
In terms of resale units in the district, there have been transactions in the year to date, including a three-bedroom unit at Amber 45 for S$3.1 million or S$2,618 psf in January, another at Meyerise for S$3.3 million or S$2,534 psf in February, and yet another at Aalto for S$3.5 million or S$2,427 psf in January.