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PARC ESTA (Former Eunosville)
Parc Esta is a new real estate project that was built right on the site of the former Eunosville privatized HUDC estate. Developed as a means to help improve the accommodation and real estate condition of many Singaporeans, the condo project was put down close to Sims Avenue, with a 377,000 square feet site.
The development is located at 824 to 840 Sims Avenue, Prime City Fringe. The condo is conveniently located at the prime city fringe that’s proximity to all parts of Singapore, i.e. Sims Ave (D14). Parc was formerly called Eunosville. Parc Condo floor plan includes 1399 units & 5 shops to serve. A big part of the unis has already been booked. Therefore, it’s advised to you that you book your interest as soon as possible.
The real estate developers behind Parc Freehold were MCL Land, a property developing firm that was started in Singapore as a member of Jardine Matheson Group. Ever since its inception the firm has been able to take on some significant real estate projects in Singapore, including but not limited to names like Lake Grande, J Gateway, Sol Acres and Lakeville.
PARC ESTA PROJECT DETAILS
|Development Name||Parc Esta|
|Address||838 Sims Avenue|
|Showflat Location||Next to Eunos MRT|
|Developer Sales Hotline||(+65) 6100 0910|
|No. of Units||1,399 + 5 Shops|
|No. of Blocks||9 Blocks|
|No. of Storey||18 Storey|
|Unit Type||1 Bedroom to 5 Bedroom|
|Site Area||377,000 Square Feet|
|Expected Date of Temporary Possession (TOP)||TBC|
|Expected Date of Legal Completion||TBC|
MCL LAND DEVELOPMENT
MCL Land has established itself as a renowned developer in the property & condo development industry. Ther are a proud member of the
Jardin Matherson Group which belongs to the famous Hongkong Land Holdings.MCL Land has been developing residential &
commercial properties for more than 50 years. They have a top notch portfolio both in Singapore & Malaysia. Some of their extraordinary
works are Esta Villa, Uber 383, The Estuary, Hallmark Residences, Lake Grande & Margaret Ville. of building quality homes
in both Singapore & Malaysia over the last 50 years. It is a member of the Jardine Matherson Group under Hongkong Land
MCL Land is committed to their respected buyers to ensure the possible highest quality within affordable cost.
Our recent work is Parc Esta which has already crossed the expectation of the buyer. As a result, a big part of the units is sold already. We’re quit happy with the Parc Condo project. If you want to be a proud member of the project then don’t waste any
time. Just fill up the contact form or call our sales agent at +(65) 6100 0910 & ensure showflat booking right now.
PARC ESTA SITE PLAN
The Parc Condo site plan includes a variety of attractions like pool, shopping mall, playground & so on. You’ll get a huge number of reputed schools & college to send your beloved children. Most of the necessary amenities like Eunos MRT, Paya Lebar, Katong, Parkway, Kallang al are 5-10 mins away from the project. In a word, the condo is a perfect choice for all kind of residents.
PRIME LOCATION OF PARC CONDO
One of the major features of Parc Esta that seems to continue attracting people is the uniqueness and special location that it has found itself in.
The location of the project is a very close walking distance to the Eunos MRT station and a single stop from the MRT station (a popular linkage point that serves both the Circle and East-West Lines). This proximity is definitely going to work for it, especially as it hopes to attract members of the everyday working class.
For many years now, the Paya Lebar interchange has held a lot of significance, being viewed as a major hub of the entire Paya Lebar Central. Amongst other things, it is sure to comprise of various A-grade offices, F&B and retail offerings, as well as private residences for people.
People who live in Parc Condo will also be able to enjoy the benefits that come from the fact that the project is in a close distance to Paya Lebar Central, a separate project that is currently being renovated by authorities.
Also, it has been reported that the integrated development project along the Paya Lebar Quarter has seen the completion of hundreds of A-grade office spaces. These offices will span through three separate business towers.
The Paya Lebar Quarter is expected to become the corporate business address for a wide array of companies, including but not limited to CBRE (an international property consultancy firm that has been listed on the New York Stock Exchange), insurance firm Great Eastern, IWG (a listing and office outsourcing company), the NTUC Income insurance co-operative society, ad SMRT, the official public transport operator for the whole of Singapore.
Also, according to Lendlease, a real estate developer agency, multiple tenants have already begun to fit their offices in the building, and it is expected that the place will be fully occupied within a matter of time
Mr. Lim, who works for the ERA, stated that considering the fact that Paya Lebar will help with providing jobs and improving the labor conditions of people in the area, a lot of people will definitely be drawn to the place, and it will be sure to provide even more potential residents to Parc Condo.
ACTIVITIES TO CHOOSE FROM
The A grade towers are already running, and another functionality is beginning to pick up some steam. However, apart from this, there will also be a 340,000 square feet mall at Paya Lebar Quarter. The mall will have a direct link to the MRT interchange station, and it is expected to be able to provide some support or the booming business ecosystem and improve retail activities in the entire area.
The Paya Lebar Square is another major commercial spot around the area. There are 19 shops and outlets here and ever since the structure was developed a few years ago, it has continued to remain a major business hub in the area.
Just a few meters away from the Square is the SignPost Center. It was redeveloped for the better of two ears, and this redevelopment project has seen major benefits as well, especially as the structure is now able to conveniently take in twice the amount of people and shops that it could accommodate.
The structure has 8 floors and it spans 269,000 square meters. It is able to provide a wide array of retail offerings. There is GV Paya Lebar, a Cineplex that contains 756 seats. It also contains a supermarket.
Also, just across the road from the Paya Lebar MRT interchange station, you’ll find the One KM Mall. It was rebranded in August 2018 by Kinex, and it is set to be positioned as the first lifestyle mall in the whole of Singapore, featuring spaces for socialization as well as green concept stores. The mall will also have an indoor, retail theme park, a running track that measures 300 meters, and a permanent pop-up retail center.
Speaking on the location, Alvin Tan, Executive Director and Head of Project Marketing at PropNex International, said, “Parc Esta is well-located in the central part of the Eastern region. Other malls within a five- to 10-minute drive include 112 Katong, Parkway Parade and Kallang Wave Mall.”
Tan also added that some of the other leisure activities that are located within a few minutes’ drives are the Eastern Coastal Loop bicycle trail, the Marine Cove at the East Coast Park, the Old Airport Road Food Centre, and the Singapore Sports Club.
AN AWESOME SPOT FOR FAMILIES MOVING IN
The Parc Esta project is also a proper settlement area for families, as it is located in close proximity to some schools and educational institutes as well. This means that parents will be able to live there and send their children to school just near their homes.
Some popular schools which are located within a radius ranging from 1km to 2km include Tao Nan School, Haig Girls’ School, CHIJ Katong Convent, Tanjong Katong Primary School, and, Kong Hwa School.
According to OrangeTee & Tie Research and Consultancy, the number of new homes that are already in the work, as well as those under construction has actually been quite stable since the fourth quarter of 2017.
Therefore, it is expected that Parc will see a healthy interest from investor and buyers, especially since there seems to have been a lack of supply of private homes in District 14, according to Christine Sun, Head of Research & Consultancy at OrangeTee & Tie.
A WIDE ARRAY OF ATTRACTIONS AND LANDMARKS
A vast majority of the launches close to MRT stations have been of projects in the Rest of Central region. One of those is JadeScape, which is located in the Marymount-Upper Thomson area. You also have Mayfair Gardens, which is located in the Bukit Timah area, Stirling Residences and Margaret Ville, both of which are located in the Queenstown area, and Park Colonial, which was developed in the Woodleigh neighborhood.
Within all of this time, there was only one launch on the East side, and it was the second phase of the Park Place Residences project.
Parc is already expected to draw appeal from owner-occupiers as well, with the vast majority of them expected to be single families, and some multi-generational families as well. The project is also perfectly poised for yon couples who are looking to get their first home.
Alvin Tan said, “It’s attractive for those who prefer to live in the East.”
Thus, the development is able to properly stand out from other developments that were recently launched due to the fact that it is able to achieve a mix of proper location and availability of required amenities.
Ngiam of Huttons Asia said, “It is a three-minute walk from Eunos MRT station, one stop from Paya Lebar Central and within easy access to many culturally rich enclaves such as Joo Chiat and Katong.”
Ngiam also pointed out that the development will be able to appeal to investors who are looking to get a value buy property in that areas that are particularly close to an MRT station as well as a proper catchment area for prospective occupiers.
DEMAND IS SURGING
Considering the fact that it is a large-scale project, Parc Condo has the ability to offer its residents and inhabitants with a wide array of luxury resort facilities. This is another reason why the estate has continued to attract many people, as those living in smaller developments don’t have access to facilities like these.
Mr. Lim of the ERA said, “There aren’t many new projects of a similar scale to Parc Esta in District 14.”
Lim points out that the only other launch that is located in the district is Arena Residences, a boutique development that is located at Guillemard Lane.
PropNex’s Alvin Tan also note that the previous large-scale residential project that was launched in that area was the Sims Urban Oasis. The Sims Urban has a capacity of 1,024, and according to Tan, it is almost completely sold out in capacity.
Tan believes that there is a “strong, pent-up demand from the HDB upgrader market,” especially considering the fact that most of the HDB blocks in the area were built at least 15 years prior. He said, “There will also be a pool of potential buyers among those living in private property in the surrounding area who are either looking for an investment property or a forward purchase for their children.”
The strength of the demand for residential areas in this region by homeowners can easily be depicted by the launch of Park Place Residences at the Paya Lebar Quarter. The project had 429 living units, and its first phase was launched in March 2017. At that point, all of its 210 units were taken in a single day, and the area had an average cost of $1,800 per square feet. As of April 2018, the second phase of the residential area was launched. Units that were sold under this phase had their prices averaging well above $2,000 per square feet. A vast majority of the one and two-bedroom apartments were sold for prices well above the $2,200 per square feet mark, although the highest recorded went out for $2,281 per square feet. Also, according to Julynn Ngiam, Head of Residential Project Marketing at Huttons Asia, there are less than 20 units available for sale today.
PARC ESTA PRICE
As of the first nine months of 2018, it was reported that about 20 new projects were launched. However, there are only a handful of these developments that are located within a three-minute walking distance of MRT station.
OrangeTee & Tie’s Christine Sun also said, “New projects near MRT stations are currently transacting at an average price range of around S$1,666 per square feet to $1,940 per square feet.”
Based on data gotten from URA Realis for, the average price of units that were sold on JadeScape was $1,666 per square feet across the 377 transactions that were reported. Also, in District 3 as well as located around Queenstown MRT station, the units at Margaret Ville were logged at an average of $1,874 per square feet, while the third quarter of 2018 saw an average of $1,764 per square feet logged at Stirling Residences.
Alvin Tan of PropNex said, “If Parc Esta is priced around $1,700 – $1,730 per square feet, it will be very attractive.”
Units Are Moving Fast!!
Attractively Priced From:
1BR – $736K
1+S – $893K
2BR – $1.014M
2+S – $1.276M
3BR – $1.373M
4BR – $1.759M
5BR – $2.234M
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