Executive Condominium for sale - Sea Horizon

  • $ Price View To Offer
  • 3 Bedrooms 1,066 sqft

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Sea Horizon For Sale

Hao Yuan Investment, a China-linked company registered in Singapore in 2010, submitted the top bid of $331.1 per sq ft (psf) per plot ratio (ppr) for the 27,660 sq m site at the junction of Pasir Ris Drive 3 and Pasir Ris Rise.
It beat World Class Investments' bid of $206.7 million - or $330.6 psf ppr - by a whisker.
Other bidders for the land parcel that can yield about 580 units include Qingjian Group, a joint bid by Frasers Centrepoint and Keong Hong Construction, and Mezzo Development, which submitted the lowest bid of $169 million, or $270 psf ppr.
Experts say the level of interest and bids reflect the optimism in the EC market.
Mr Ong Teck Hui, Jones Lang LaSalle Real Estate's national director of research and consultancy, said the 99-year leasehold site enjoyed more interest than most EC sites, which typically find four to six bidders.
"Many buyers like the Pasir Ris location, which is seen as part of the popular East Coast (area)," he added.
"The nearby Watercolours EC site, sold in October last year, also received a strong response, attracting 11 bidders."
ERA Realty key executive officer Eugene Lim noted the variety of shopping, dining and recreational activities near the site, including Downtown East, Pasir Ris Park and the White Sands shopping mall.
He expects a breakeven price of between $600 and $650 psf.
Experts noted that the top bid is 14 per cent higher than the $291 psf ppr fetched by the Watercolours site.
The project has sold 270 of its 416 units at a median price of $719 psf as at the end of October.
Moreover, the top four bidders also submitted bids above $320 psf ppr.
ECs combine elements of private and public housing, and often have premium furnishings and facilities.
But they are subject to Housing Board rules that specify a monthly household income cap of $12,000 for buyers."
Property Information
Property Name Sea Horizon for sale
Property Type Apartment / Condo - Executive Condominium
MRT/LRT 0.5 km to NE13 Kovan MRT/LRT Station
District D18 East - Pasir Ris / Tampines / Simei
Developer Hao Yuan Development Pte Ltd
Tenure 99-year Leasehold
Unit Information
Floor Area 1,066 sqft / 99 sqm
Rooms 3 bedrooms 2 bathrooms
Condition Partially Furnished
Asking Price View to Offer

Features

Swimming pool

24-hour security

Gym

Tennis court

Partially furnished

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Nearest MRT/LRT Stations
  • NE13 Kovan (0.5 km)
  • NE14 Hougang (1.64 km)
  • NE12 Serangoon (1.66 km)
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No nearby expressway exit.
Nearby Bus Services
101 107 107M 112 113 115 119 136 153 80 81 82

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