PASIR RIS 8
Mixed-Use Development @ Pasir Ris Town Centre
By Allgreen + Kerry Properties
By Allgreen + Kerry Properties
Here we present a Review of Pasir Ris 8. This is a new integrated development in the heart of Pasir Ris, at its town centre beside Pasir Ris MRT station.
Pasir Ris 8 is being developed by Phoenix Commercial Pte Ltd in conjunction with Phoenix Residential Pte Ltd. The two companies belong to a joint venture of Allgreen Properties with Kerry Properties, both of which are part of the Kuok Group of Companies.
Note: This is NOT an advertisement for sale.
This mixed-use development will comprise residential & commercial components integrated with the town plaza, polyclinic, and bus interchange. All linked to the MRT station, offering seamless connectivity to public transport for its residents.
Given its significant size, amenities and location, it will also serve as a focal point for the local community. In much the same way as other integrated developments like Watertown at Punggol, North Park at Yishun, and Sengkang Grand at Buangkok, have done for their respective estates.
Based on the track record of prices for those other projects, Pasir Ris 8 being an integrated development, is similarly expected to command a price / rental premium over surrounding pure residential plays.
The Pasir Ris Central Condo . Background
In line with its vision of prioritising quality over price, HDB adopted the dual-envelope concept and price tender system for the award of the Pasir Ris 8 site.
This is meant to produce development concepts of calibre, with well-designed public spaces, and seamless integration of amenities.
In what is essentially a two-stage tender evaluation process, only design concept proposals that substantially satisfy its criteria, are passed through by the Concept Evaluation Committee (CEC) to the second stage.
In the second stage, the price envelopes accompanying the proposals that make it through, are opened for consideration. The tenderer offering the highest bid amongst the shortlisted concept proposals, bags the land parcel.
The tender for the Pasir Ris 8 site opened on 27 August 2018, and closed on 14 December 2018. It was a white site, which meant developers could propose different usages for it, subject to HDB’s stipulations on minimum components.
The site was eventually awarded to the Allgreen-Kerry partnership on 22 March 2019.
Pasir Ris 8 . Locational Attributes
Pasir Ris is sometimes portrayed as being in a far-flung corner of Singapore, even though it is actually just one train stop from Tampines. Perhaps because it is where the East-West MRT line ends, and the beach starts.
Whatever the case may be, this Pasir Ris Central condo at least has the advantage of sitting on the doorstep of an MRT station. According to the MRT website, it takes SGD$1.80 and roughly 34 minutes from Pasir Ris station to City Hall station.
To Raffles Place takes $1.84 and 36 minutes. And you have the advantage of being on a direct line, as well as a high chance of getting a seat on the train. So all in all, it’s not that bad really.
Driving is of course, more difficult. Which is why Pasir Ris 8 could possibly appeal more to those who work in the surrounding business centres, such as at Changi Business Park, Tampines Regional Centre, or Changi Airport (which is actually quite a major employment hub).
Other than that, Pasir Ris is a pretty mature estate, with its full complement of amenities. Like White Sands shopping centre next door, or Pasir Ris Park that extends to the beach and shoreline, or Downtown East, a one-stop dining, leisure, and lifestyle destination.
Pasir Ris is perhaps best known for its recreational facilities, and a more laid back ambience that is soothing after the stress of the city. And while the beach here is smaller and less popular than at East Coast Park, it has the charm of being less crowded too.
Register interest or request details here.
|Name||PASIR RIS 8|
|Status||Mixed Use Development (Foreigners eligible to buy)|
|Address||Pasir Ris Central|
|Site Area||38,003.7 m² (409,071 sq ft)|
|Floor Area||95,009.25 m² (1,022,679 sq ft)|
|Tenure||99 Year Leasehold|
Pasir Ris 8 Floor Plan
The Pasir Ris 8 condo floor plans are pending approval by the various relevant authorities. Please drop us a line via the Contact Form if you would like us to email you the Pasir Ris 8 floor plan brochure once available.
The Pasir Ris 8 Site Plan
The Pasir Ris 8 site is fairly large, over 400,000 square feet, with potential build up space of around 1 million square feet.
It is an irregular shape land parcel right beside Pasir Ris MRT station and White Sands mall on its east, and bounded by Pasir Ris Central, Pasir Ris Drive 8 and Pasir Ris Drive 3 on its other three sides.
Across Pasir Ris Drive 3, Pasir Ris Park stretches all the way to Pasir Ris beach. So this north-facing side is pretty unblocked for the time being. High floor units will likely be able to get some views of the Johor Straits, Pulau Ubin, and Johor.
However a small part of the park, the stretch bordering Pasir Ris Drive 3, is zoned for residential as well. No other details have been worked out yet on what sort of development, or even the plot ratio. So any development on that side could be in the further future. In the meantime, just enjoy the view and the greenery.
Views of units facing eastwards, over Pasir Ris MRT station, are also not much obstructed for a distance. However they might get some noise from the station, which sits above ground.
Pasir Ris 8 Showflat Viewing
The Pasir Ris 8 showflat is not available for viewing yet. Please send us a line via the Contact Form if you wish us to alert you on the showflat opening timeframe.
Pasir Ris 8 Prices · Unit Types
UNIT TYPES . SIZES
|Unit Description||Type||No. of
|Total Number of Units|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
THE PASIR RIS CONDO PRICE RANGES
The Pasir Ris 8 pricing is still under deliberation. Please let us know via the Contact Form if you wish us to update you when the indicative pricing is decided.
Phoenix Residential will release exact prices only at the Preview sales day, but indicative prices may be made known before that.
PASIR RIS 8 PRICE BACKGROUND
The Allgreen-Kerry Properties partnership’s winning bid for the site was nearly SGD$700 million. This works out to SGD$684.48 per square foot per plot ratio (PSF PPR), based on the permissible gross floor area (GFA) of 1.02 million square feet.
This assumes an equal proportionment of land cost for the residential as well as commercial components, which may not necessarily be the case eventually.
On that assumption however, after taking into account all the development costs, the break-even could come up to around SGD$1,200 to $1,250 PSF.
The selling price would have to be somewhere north of that. Ballpark figures of about $1,4xx to $1,6xx PSF depending on unit size, floor level, and facing, may not be too far fetched.
As a comparison, Sengkang Grand Residences, the integrated development at Buangkok MRT station, is averaging around $1,6xx to $1,7xx PSF. This project is similar in many respects. It is next to an MRT station in a HDB estate, integrates residential with retail and bus interchange, and is also around 35 minutes ride to City Hall station.
About the Developer
The developers for Pasir Ris 8 Singapore are subsidiaries of a partnership of Allgreen, and its sister company Kerry Properties. Both are part of the Kuok Group of Companies.
Allgreen Properties is a well regarded property developer, that started operations in Singapore in 1986. However its work dates from a few years before that, when it commenced as a division of Kuok (Singapore) Limited.
Kerry Properties is the property development arm of the Kuok Group in Hong Kong. It has been involved in property development and investment activities since 1978, and listed on the Hong Kong Stock Exchange in 1996.
About Allgreen Properties Limited (“Allgreen” or “The Group”)
Allgreen Properties is the local real estate arm of the Kuok Group. It is now one of the most established property players in Singapore, with a track record for reliability & quality. Under its umbrella are more than 13 associated companies and 35 subsidiaries.
The Group is a significant contributor to the Singapore real estate market. Over the years, it has built a large number of residential and commercial properties catering to spectrum of budgets & needs. Allgreen also owns a diversified property portfolio in Singapore, that range from office to retail space, homes and serviced apartments, and even a hotel.
Residential projects it has developed include condominiums, and landed and cluster homes. Amongst the many completed ones are places like Yong An Park, Cairnhill Residences, SkySuites @ Anson, Suites at Orchard, Regency Park, One Devonshire, Dairy Farm Estate, RV Residences, Amber Point, Holland Residences, The Sorrento, Binjai Crest, Springbrook Terrace, and Tai Hwan Park.
About Kerry Properties Limited (“Kerry Properties” or “The Group”)
As a world-class real estate development company, with major investments in Hong Kong and major cities of Mainland China, Kerry Properties is a constituent stock in the Hang Seng Composite Index and several other indexes.
Its guiding principle is to aspire towards excellence. Hence it focuses on quality premium developments in prime locations. Kerry Properties offers professional management and value-added services to its clientele too.
With its reputation for excellence and significant market presence, the Group manages a good-sized portfolio of luxury homes in Hong Kong. Its Property Division is also focused on enlarging its commercial portfolio, that includes Grade-A offices and retail space, to meet the requirements of businesses.
Pasir Ris 8 Location Features
Location. The Pasir Ris 8 condo is located in Pasir Ris, a waterfront town with a relaxed resort feel. Just across Pasir Ris Drive 3 from the site is Pasir Ris Park and Beach – where residents can hang out at, or go for a stroll or picnic.
Eateries, Shops, Library, Supermarkets, Banks. This is a mature estate with all the essential amenities. The main shopping centre is White Sands, right next door to the Pasir Ris 8 location.
While not very big, White Sands provides a fairly comprehensive range of services. Besides the usual shops and food court and eateries, there are a couple of bank branches, a Fairprice supermarket, pharmacies, medical and dental clinics, telco outlets, and even a public library.
Down the road, there is e-Hub @ Downtown East as well, with eateries and another supermarket outlet.
For a wider selection, residents can take a 7-minute drive to Tampines Retail Mall (where Giant Supermarket, IKEA Tampines, and Courts are grouped). Or to Changi City Point Mall at Singapore Expo. Another alternative are the many malls at Tampines Town Centre, one train stop away.
And then of course, there are shopping options at Changi Airport itself. Especially the newly minted Project Jewel, envisaged as an exciting “world-class, signature lifestyle destination”.
Recreational Amenities. Lots of these around this Pasir Ris Central condo location. Gallop Stable, Downtown East and Wild Wild Wet at Downtown East, Mainland Tropical Fish Farm, Cherryloft Resort, Aloha Loyang, Kayak Rentals.
Schools. This neighbourhood is well served by numerous primary and secondary schools. International schools and tertiary institutions are represented too. Such as the Overseas Family School @ Pasir Ris Heights, and the Meridian Junior College.
Casting the net further but keeping within 10 minutes drive, there are Temasek Polytechnic and United World College of South East Asia in Tampines, and the Singapore University of Technology and Design (SUTD) at Changi.
Connectivity. Being right next door to Pasir Ris MRT station, the Pasir Ris 8 location fares well in this respect.
From here it’s about 35 minutes by train to Raffles Place (check it out here).
And come 2029, Pasir Ris station will be an interchange station joining the Cross-Island line with the current East-West line. Sites at interchange stations are prized more, as they offer greater connectivity.
This location is also pretty close, within 10 minutes drive, from Changi International Airport.
Rental Catchment Pools. Quite a number of possibilities in the vicinity of the Pasir Ris 8 location. Such as those working at UE BizHub East or Changi Business Park. Or staff and students at SUTD, the Japanese School, United World College. Or crew / support / operations staff at Changi Airport.
Changi Business Park alone supports a workforce of 20,000, many of whom are expatriates. UE BizHub East, with a leasable floor area of almost 550,000 square feet, is an integrated development comprising of a convention centre, offices, a retail mall, and a hotel.