The URA Master Plan for Tengah envisions a sustainable and connected future for the area, with a strong emphasis on community living. At Novo Place EC, this means more than just an idyllic living environment; it offers a complete lifestyle enhanced by modern amenities and sustainable practices. As Tengah transforms into a vibrant “Forest Town,” residents of Novo Place EC will be at the heart of a thriving, eco-friendly community. This makes it an intelligent choice for homeowners and investors looking towards the future of urban living in Singapore.
The launch of Novo Place EC is expected to further drive demand for high-end properties in the Orchard area, with potential buyers looking for a prestigious and exclusive address. The development’s prime location and luxurious offerings are expected to command a premium price, making it a highly attractive investment opportunity for both homeowners and investors.
Princess Elizabeth Primary School is a highly regarded educational institution known for its academic excellence and vibrant school culture. The school boasts a comprehensive curriculum with a strong focus on science and mathematics, making it an ideal place for nurturing young minds with a passion for these subjects. In addition, the school offers well-equipped computer facilities and a diverse range of extracurricular activities such as sports teams and music groups, providing students with a well-rounded education. The devoted team of teachers and staff at Princess Elizabeth Primary School fosters a supportive and nurturing environment for students to excel in their studies. With its impressive academic achievements and dedication to overall development, Princess Elizabeth Primary School stands out as a top choice for discerning parents seeking top-quality education for their children in the vicinity.
In a booming real estate market, competition for prime land has been fierce. However, this did not deter Novo Place EC from making history with their latest acquisition of a 99-year leasehold site in the highly sought-after district 9 of Singapore. The bid for the land parcel was an impressive $348.5 million, surpassing the previous record of $345 million set by the M+S consortium for a land parcel in Ophir-Rochor back in 2018.
In conclusion, Novo Place EC’s record land price of $348.5 million is a testament to the attractiveness of the site and the strong demand for luxury properties in the district 9 area. With its prime location, scarcity of land parcels, and reputable developers at its helm, the upcoming development is set to redefine luxury living in Orchard and set a new standard for future developments in the area.
The URA of Singapore has a grand aspiration for Tengah, a recently designated region situated in the western part of the country. As a crucial element of the URA Master Plan, Tengah is slated to evolve into a “Forest Town”, marked by verdant surroundings, comprehensive public transportation systems, and groundbreaking sustainable solutions. This development blueprint holds immense value for Novo Place EC, a contemporary executive condominium nestled in this forward-thinking town.
Additionally, the school has a well-equipped computer lab and a variety of extracurricular activities, such as sports teams and music groups, providing students with a well-rounded education. Furthermore, the school’s dedicated team of teachers and staff create a supportive and nurturing environment for students to excel in their studies. With its excellent academic track record and commitment to holistic development, Princess Elizabeth Primary School is a top choice for parents looking for an exceptional education for their children in the area.
Another contributing factor to the impressive land price is the scarcity of land parcels available in the area for future development. As the central region of Singapore is highly built-up, land parcels for residential developments are becoming increasingly limited. In fact, this is the only residential site available for sale in the district 9 area under the Government Land Sales (GLS) program for the first half of 2021.
Besides the prime location, the upcoming development is also expected to boast top-notch facilities and amenities, catering to the needs and lifestyles of its residents. With CDL and MCL Land’s reputation for quality and design excellence, Novo Place EC is poised to become a landmark development in the district.
Novo Place EC, a joint venture between City Developments Limited (CDL) and MCL Land, is no stranger to developing luxury residential properties in prime locations. Some of their notable projects include Gramercy Park, Haus on Handy, and Boulevard 88. With their track record, the upcoming development at Handy Road is highly anticipated and expected to set a new standard for luxury living in the area.
The Novo Place EC site is zoned for residential use under the Urban Redevelopment Authority (URA) Master Plan 2019. As such, the upcoming development is expected to comprise high-end units, catering to the affluent and discerning homebuyers in the area. Luxury developments in district 9 have seen a steady increase in demand, with strong sales seen in recent launches such as Irwell Hill Residences and Midtown Modern. This proves the resilience of the high-end residential market even amidst the ongoing pandemic.
According to analysts, the successful land bid for Novo Place EC is indicative of developers’ confidence in the Singapore property market’s long-term prospects. Despite the economic uncertainties brought about by the COVID-19 pandemic, the property market has shown resilience and continues to attract local and foreign investors.
The Novo Place EC site, located at Handy Road, spans 60,821 square feet and comes with a maximum gross floor area (GFA) of 107,638 square feet. With a plot ratio of 2.8, the site can yield approximately 100 residential units. This translates to a land rate of $3,050 per square foot per plot ratio (psf ppr), making it the highest land rate for a residential site in the area.
The remarkable land price can be attributed to the prime location of the site. Situated just a stone’s throw away from Orchard Road, residents can enjoy the conveniences of living in one of the most vibrant and cosmopolitan districts in Singapore. The area is also well-connected to other parts of the city, with several MRT stations within walking distance. With such high accessibility and proximity to amenities, the demand for housing in this district is expected to be strong.