PARC CENTRAL RESIDENCES
Upcoming Executive Condominium Launch in Tampines
Here we review the Parc Central Residences EC. This is a new executive condominium, that will launch for sale in January 2021.
It is being developed by a joint venture of Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd.
Parc Central Residence EC is located in Tampines Town, that is prized for being a big regional centre as well as a mature residential estate. As such, there is a full range of amenities in the neighbourhood.
This project will be the first executive condominium launch in the east of Singapore since 2012. Its design concept is of a New York Central Park inspired sanctuary. With a football field-sized landscape featuring an 80m lake pool, elevated gym, and NYC steakhouse style gourmet dining.
About the Parc Central EC Design
Parc Central Residences EC will comprise eleven 16-storey high blocks. These house a total of 700 units ranging from 3 to 5 bedroom apartments, with basement car parks, set in expansive & lushly landscaped grounds.
The emphasis is on family-friendly design, with efficient and functional layouts. For example, units will be provided with a yard area, spacious master bedrooms, and a home shelter that can be turned into a utility room. Bathrooms and yards will be naturally ventilated.
For a touch of luxury, some units will feature walk-in wardrobes, while top floor ones come with extra high ceilings at the living and dining areas.
Others feature kitchens with direct balcony access that seamlessly transition between outdoor and indoor spaces.
Finishes will be towards the higher end range for ECs, with fittings from Bosch and Hansgrohe for instance.
Units here will be smart-home enabled too, with IP camera with gateway, a digital lockset, voice control, and lighting control.
Another very practical and relevant point is that ventilation and hygiene have been designed into the common areas. All lifts will be equipped with a Schindler clean air solution, that sanitises the lift cabin within minutes.
Residents will get a complimentary shuttle bus service for the first 15 months, to an MRT station nearby.
And finally, there is a complete range of 88 facilities. Something for everyone, whether for leisure or relaxation, or for fitness.
Register to view showflat or for e-Application, or to request info / updates.
Context of the Neighbourhood
As Singapore’s first generation, and one of its main regional hubs, Tampines has been modelled into a full-fledged commercial centre.
It continues to thrive and grow as a focus of business activity in the eastern area. Further, under URA’s Master Plan, Tampines remains on course for expansion and improvements.
This will see the development of even more facilities to meet the needs of Tampines residents, and incidentally those of Parc Central Residences as well.
In fact, Tampines is already one of the most popular housing estates, given its position between the CBD and Changi Airport. It is pretty self-contained too. There are a number of good-sized malls with eateries and supermarkets, community library, office buildings, sports and swimming complexes, retail park, schools, and ease of access via roads or the MRT.
Amenities around Parc Central Residences EC
Tampines is more than just a focus of business, or a residential estate. It is well supplied with educational institutes up to tertiary level, and international schools too.
Such as the United World College of South East Asia (East Campus) across Tampines Avenue 5, and Temasek Polytechnic about 15 minutes walk down the road.
For daily necessities, there is a row of neighbourhood shops nearby, at block 872C, a couple of minutes walk from the main entrance of Parc Central EC. It covers a surprisingly wide range of items.
From a coffee-shop that closes at 11pm, to a 24-hour Sheng Siong supermarket, a stationery shop, a DIY shop for household goods, a confectionary, a laundromat, optician, hair salon, and dental and medical clinics.
There are also a couple of nature parks in the immediate vicinity within walking distance. The park connector running past the site leads to Bedok Reservoir Park, with Tampines Quarry Park across Tampines Avenue 10.
The Parc Central executive condo will benefit from its proximity to Changi Airport as well. Quite apart from the convenience for those catching flights. The airport terminals are a destination in themselves, with their multitude of dining and retail options, not the least of these being JEWEL.
An Investment Perspective
If you are looking at the Parc Central Residence EC from an investment angle, here are some aspects to consider.
Executive condominiums are built and sold by private developers, but at a pricing 15% to 20% below that of comparable new private condominiums.
In addition, first time buyers are eligible for a CPF housing grant of up to $30,000.
And there is no ABSD requirement for those who currently hold an existing HDB flat. They may also get a full loan for the new purchase even if they have an existing loan.
On the flip side, the Mortgage Servicing Ratio (MSR) is set at only 30%, half that of private property purchases. While this is a very prudent approach, it makes it hard to get enough loan for larger units, if the household income is not very high.
Despite the lower pricing, ECs like Parc Central Residences come with the full range of facilities. More often than not, they are practically indistinguishable from private condominiums.
Except for one aspect. Unlike private condos, almost all ECs do not have one bedroom units. And usually only a very low proportion of 2 bedroom units.
That is because they are built to cater to end-users, since all the units must be owner-occupied within the Minimum Occupation Period (MOP).
So they tend to be more spacious and occupier-friendly, with an emphasis on facilities.
Given the lower entry price, ECs typically enjoy higher Return on Investment (ROI) when they are sold after the MOP, compared to a similar private condo.
It also makes them relatively risk-free in a sense, as they have a sort of built-in ‘buffer’ against price drops.
Studies have shown that eventually, executive condominiums move closer towards prices of private condos in the vicinity. Hence of all the property classes, ECs have historically achieved the largest gains.
If instead of selling and taking profits you choose to rent out this property, there are employment centres in the area, for potential tenant pools.
Places such as the Tampines Regional Hub itself, or Changi Business Park, or Changi Airport, or staff from the international schools.
Register to view showflat or for e-Application, or to request info / updates.
|Name||Parc Central Residences|
|Developer||Hoi Hup Sunway Tampines J.V. Pte Ltd
(JV of Hoi Hup Realty Pte Ltd & Sunway Developments Pte Ltd)
|Status||Executive Condominium (Main applicant must be Singapore citizen)|
|Address||119, 121, 123, 125, 127, 129, 131, 133, 135, 137, 139 Tampines Street 86|
|Site Area||24,933.7 m² (268,386 sq ft)|
|Floor Area||69,815 m² (751,481 sq ft)|
|Tenure||99 Year Leasehold from 22 April 2019|
|Estimate TOP Date||2nd Quarter 2023|
|Official TOP Date||21 July 2025|
|No. of Blocks||11|
|No. of Storeys||16|
|Unit Types||3 Bedrooms, 4 Bedrooms, 5 Bedrooms|
|No. of Units||700|
|Car Park Spaces||700 + 5 for Handicap Parking|
|Project Description||Executive Condominium housing development comprising 11 blocks of 16-storey apartments with common basement carpark and communal facilities on Lot 07545 MK 28 at Tampines Avenue 10 (Tampines Planning Area)|
|Architect||ADDP Architects LLP|
|Main Contractor||Straits Construction Singapore Pte Ltd|
|M&E Engineer||Rankine & Hill Pte Ltd|
|C&S Engineer||BC Koh & Partners LLP|
|Landscape Architect||COEN Design International Pte Ltd|
|Project ID||Expression Galleries Pte Ltd|
|Showflat ID||2nd Edition Pte Ltd|
|Developer Solicitor||Rajah & Tann Singapore LLP|
|Project Account||United Overseas Bank Limited for Project A/c No. 451-310-336-5 of Hoi Hup Sunway Tampines J.V. Pte Ltd|
Parc Central EC Showflat · Viewing
Tentative launch timeline as follows:
Showflat Viewing Slots: 7 January to 19 January 2021
E-Application Period: 7 January to 19 January 2021
Price List Release: 20 to 21 January 2021
Balloting Day: 22 January 2021
Booking Day: 23 January 2021
Please drop us your contact details in the Form below if you wish to book a viewing slot for the showflat, or understand requirements for an e-application, or to know the booking process.
Viewing of the Parc Central Residences showflat is by advance appointment only.
E-Application & Booking
To take part in the balloting and booking of units, you need to do the e-application before that. The e-Application can only be done at the computers at the Parc Central showflat, not online.
As Parc Central Residences is an executive condominium, only those who qualify will be able to book a unit. To check if you are eligible, and what payment structures and grants apply, please refer to the following guides. (Opens in a new window.)
- Executive Condominium Buying Guide
- Executive Condominium Eligibility Rules
- Payment Structure for Executive Condominiums
Parc Central Residences Floor Plans
Please drop us a line via the Contact Form if you would like us to email you the full set of Parc Central floor plans.
Example Floor Plans
Examples of provisions and fittings for the units
Bosch kitchen fittings · Mitsubishi air-conditioning · Hansgrohe mixers & taps · Duravit bathroom fittings · Yale main door lockset · SMART Home System · Centralised pneumatic waste disposal
Disclaimer: Brands and models are subject to change; final choice by project consultants
Parc Central Residences Site Plan
The Parc Central Residence EC site is a mid-sized, longish parcel of land. It spans over 260,000 square feet, with potential built-up area of around 750,000 square feet.
It is the first of a row of condominiums lining Tampines Avenue 10 just south of its junction with Tampines Avenue 5, and across from the United World College.
South of the Parc Central EC, we have The Alps Residences next door. Followed by Tapestry, then Santorini, and finally Q Bay Residences. All these form a private residential enclave here.
The west of the site borders Tampines Avenue 10 which is a fairly busy road. The part facing east, fronting Tampines Street 86 where the main entrance will be, is the quieter side.
Hence the architects have designed the layout of the site to mitigate the worst of the negative aspects. For instance, the blocks are positioned such that only gable end walls face Tampines Avenue 10. There are no direct west-facing units either.
Most of the units face landscaping or pools within the site. Those on the north-east boundary of the site overlook the 6-storey high United World College across Tampines Avenue 5. While those on the south-west border face the recently completed Alps Residences.
Among the wide range of facilities to be found here are:
. A big Lake Zone, almost as big as a football field, featuring a 51m naturalistic lake pool
. Therapeutic jacuzzi massage cove, with soothing water jets designed to relax tired bodies
. Calming water curtain massage at the Water Trellis
. The Parc House, a two-storey clubhouse with an undulating design, overlooking the Lake Pool
. 50m long olympic-length Quarry Pool at The Cove
. Tennis court, futsal play-court, and basketball half-court
. Outdoor CrossFit equipment and rock-climbing facilities
. Trampoline Trail, cocoon pods, and treehouse for kids
. Playground with toddler-friendly features
. Pools for children and for toddlers
. Lawns and themed gardens for soothing the mind and heart
. Community garden for residents to do their own planting
. Screen a movie at the Picture Room or hold a tea party at the Private Room
. Read a book or study, or conduct a Zoom session, at the Reading Room
Parc Central Residences Prices · Unit Types
UNIT TYPES . SIZES
|Unit Description||Type||No. of
|3 Bedroom Deluxe||C1 / C2||80||81 / 83||872 / 893||3 Bedroom Premium||C3 / C4 / C5||128||86 / 87||926 / 936||3 Bedroom Luxury||C6 / C7 / C8||191||92 / 95 / 98||990 / 1023 / 1055|
|4 Bedroom Deluxe||D1 / D2||64||103 / 104||1109 / 1119|
|4 Bedroom Premium||D3 / D4||157||112 / 114||1206 / 1227|
|4 Bedroom Luxury||D5||48||118||1270|
|5 Bedroom Luxury||E1 / E2||32||133 / 136||1432 / 1464|
|Total Number of Units||700|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
PARC CENTRAL EC PRICE RANGES
The Parc Central Residences price list will likely be released about two days before the booking day, as is the general practice for most ECs. But the indicative pricing will likely be released before that.
Please let us know via the Contact Form if you wish to be kept updated on that.
PARC CENTRAL RESIDENCES PRICE BACKGROUND
Hoi Hup Realty and Sunway Developments submitted the highest bid of SGD$434.45 million to clinch this EC site, from a field of seven bidders. Their winning bid was only 0.7% higher than the second highest bid.
This works out to a land cost of $578 per square foot per plot ratio (PSF PPR), close to those of the previous three EC winning tenders. As a matter of interest, the land for OLA EC cost $576 PSF, Piermont Grand was $583 PSF, Parc Canberra was $558 PSF.
The robust bidding for the Parc Central EC parcel reflects the scarcity of EC development sites in mature housing estates in general, and in Tampines in particular. In fact, the last time an executive condo was launched in Tampines, was CityLife six years ago.
After taking into account all the development and related financing and marketing costs, we are probably looking at a break even in the region of $1,0xx PSF.
And if launch prices of Piermont Grand and Parc Canberra are anything to go by, we could see a similar selling price of around $1,1xx PSF here as well.
About the Developer
The Parc Central Residence executive condominium is being developed by a partnership of Hoi Hup Realty with Sunway Developments Pte Ltd, a subsidiary of Malaysian group Sunway Bhd.
Both are reputable and established developers, with several decades of collective experience in the local property market.
Before this they had previously launched the 628-unit Rivercove Residences EC in Sengkang in 2018, as well as Parc Canberra EC in Sembawang very recently in February 2020.
Rivercove sold out within a short time, while Parc Canberra moved over 60% of its units on its launch weekend alone.
They have also collaborated on other projects in Singapore as well. Such as Sea Esta, Miltonia Residences, The Peak @ Toa Payoh, Vacanza @ East, and Arc executive condo in Tampines.
About Hoi Hup Realty Pte Ltd
Hoi Hup Realty was established in 1983 in Singapore. It is a home-grown niche property player that has completed a variety of projects.
These range from private and executive condominiums to mixed-use commercial developments, as well as both landed and cluster housing.
At last count, Hoi Hup had built over 7,300 residences in Singapore.
Through all that, Hoi Hup’s management and staff have accrued a wealth of experience and knowledge that will stand them in good stead in delivering quality products in future.
In recognition of its build quality standards, Hoi Hup has won more than 25 building accolades and awards. Including the BCI Asia Top 10 Developers Awards in 2012, 2013, 2017 and 2018.
Some of its projects are Residences @ Killiney, The Ford @ Holland, Sophia Hills @ Mount Sophia, Suites @ Cairnhill, Whitley Residences, Shelford23, De Royale, Waterford Residence, Foresta @ Mount Faber, and the 33-storey mixed-use commercial Royal Square at Novena.
About Sunway Developments Pte Ltd
Sunway Developments is a fully-owned subsidiary of the Sunway Group, a Malaysian MNC.
The core businesses of Sunway Group are property development, design and construction of mega-projects (such as Sunway City), real estate REITs, hospitality, building materials, leisure, information technology and education.
Sunway has won awards from international bodies such as FIABCI and IFAWPCA for their work.
Parc Central Location · Features
Location. The Parc Central Residence location is in Tampines town, along Tampines Avenue 10, but accessed from Tampines Street 86.
Shops, F&B, Supermarkets, Lifestyle, Libraries, Banks. Being one of the largest regional centres, Tampines is a self-contained township with a full suite of supporting amenities and more. Ranging from shopping malls to even office blocks.
And Singapore’s first-ever integrated community and lifestyle building, Our Tampines Hub. This huge complex houses a stadium, six swimming pools, a library, a big playground, shops, foodcourt and eateries, and government agencies.
In addition there are a number of fair-sized malls at the town centre. Like Century Square, Tampines Mall, Tampines One.
Nearer at hand to the Parc Central EC location, up Tampines Avenue 10, is Tampines Retail Mall. This currently comprises IKEA Tampines, Giant Hypermart, and Courts Megastore.
For something different, there are the shops at Changi Airport. In particular the newly opened Project Jewel, touted as an exciting “world-class, signature lifestyle destination”.
Recreational Amenities. The park connector beside the Parc Central Residence location leads to Bedok Reservoir Park nearby. This park is popular among joggers, and fitness and water sports enthusiasts. Attracts picnickers, cyclists, and inline skaters as well.
Converted from a sand quarry originally, the park surrounds the 88-hectare Bedok Reservoir. Makes for a great place to hold all sorts of water activities, including kayaking and fishing. It is, surprisingly for such an urban neighbourhood, a great sanctuary for bird watching too.
Educational Institutions. This area is well served by schools and academic institutes. We have the United World College of South East Asia next door, and Temasek Polytechnic down the road. We also have Poi Ching and St Hilda’s Primary schools within a 1 KM radius.
And several other primary and secondary schools scattered around Tampines. Further afield there is the Singapore University of Technology and Design (SUTD) at Changi.
Connectivity. The Parc Central Residences location is very close to the start of the Bartley Viaduct, and enjoys easy access to both the Tampines and Pan-Island expressways as well.
But it is not within walking distance of an MRT station. So residents will have to take a bus to the town centre, from where they can catch a train on the East-West line, or Downtown line.
However this place is within 15 minutes drive to Changi International Airport.