Selangor Dredging Berhad (SDB) Asia’s launch of the 117-unit Jui Residences along Serangoon Road in Singapore which was launched late last month has been selling like hot cakes with close to 40% already sold, it is learnt.
When contacted by Business Today, an industry analyst said that he was not surprised at the strong interest and take-rate.
“It’s a no-brainer. SDB is selling a ‘freehold development at leasehold prices’ at around SGD $1,700 per square foot, making this development excellent value for money,” he said.
Being freehold property, Jui Residences is advantageous from an investment point of view for aspiring property owners who are looking for longer term investments. This is because freehold properties generally see a more stable increase in value and is definitely an hedge against inflation. A freehold property stands the test of time as it is not subjected to depreciation of land value with time, unlike leasehold developments.
This is because freehold properties generally see a more stable increase in value and is definitely an hedge against inflation. A freehold property stands the test of time as it is not subjected to depreciation of land value with time, unlike leasehold developments.
What’s more, the project is also strategically located with a historical landmark within its premises and being backed by an internationally-acclaimed property developer with a solid track record in Singapore.
In fact, Jui Residences is currently the only freehold development in Serangoon.
Mostly importantly, Jui Residences is located in URA’s earmarked growth districts of Bidadari and Kampong Bahru areas. Plans to rejuvenated the iconic Kallang River is already underway. By 2030, another 100,000 residential homes will be built in that area, transforming the Kallang River into a lifestyle hub, with waterways, greenery and seamless park connectors. Jui Residences being right next to the Kallang River will stand to benefit from this major facelift and keen-eyed investors have identified this potential extraordinary return on investment. ( Source:https://www.straitstimes.com/singapore/plans-to-turn-kallang-river-area-into-a-lifestyle-hub )
What makes Jui Residences a sound investment is its strategic location. The project is just minutes away from the Pan Island Expressway (PIE), Central Expressway (CTE) and Serangoon Road to areas such as the Kallang Basin Area, the Orchard Shopping District, the Central Business District in Raffles Places, Marina Bay as well as supper spots around the Geylang area. It is also located just 600m walk to Potong Pasir MRT Station and has access to numerous buses plying Serangoon Road.
Jui Residences is located on the same parcel of land on what was formerly the National Aerated Water Company (NAWC). Late last year, the Urban Redevelopment Authority (URA) announced that SDB would work closely with URA to keep the building as part of Singapore’s national history and the main building of the former bottling factory will be conserved.
To date, the SDB Group has successfully completed five reputable projects in Singapore, including Hijauan on Cavenagh which won the World Silver Winner of FIABCI World Prix d’Excellence Awards 2018 in the Residential (Mid-Rise) category earlier this year. Another development, Village at Pasir Panjang won the Singapore Property Awards in the Residential (Low-Rise) category this year.
The concept of Jui Residences serves as a reflection of Singapore’s art deco heritage and to blend with the NAWC heritage building. Its art deco elements are apparent through the vertical flutes on the façade, arched detailing on the balconies and wide inset curves at the podium. An infinity lap pool at the raised facility podium deck provides for unobstructed views of the Kallang river.
Like other SDB properties this 18-storey tower presents contemporarily crafted units with excellent spatial planning. Homes are designed with comfortable living spaces and abundant natural lighting and ventilation throughout the unit. Subtle art deco features continue into the bedrooms, with herringbone timber flooring to provide a warm and restful ambiance. The carefully planned internal layout allows for unhindered spaces with natural lighting and ventilation.
Jui Residences also faces a wide frontage of the Kallang River and units at the development will have an unblocked view of the Kallang area as well as the Boon Keng area. The building design is put together by world class Architect, CarverHaggard of London with landscape and art works by Okashimo Pte Ltd.
Jui Residences is scheduled to be completed in mid-2022. For more information, please visit http://www.sdb.com.my/products/jui-residences