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PROVENCE RESIDENCE EC

Singapore Executive Condominium

This is a review of the Provence Residence EC, a new high-rise residential development in the upscale River Valley area of Singapore. It is being launched by the Macly Group, who specialises in boutique projects that give buyers the chance to own freehold homes in good locations at more affordable prices.

Note: This is NOT an advertisement for sale.

Provence Residence Singapore occupies a corner site and so enjoys dual road frontages that stretch 30 metres along River Valley Road, and 35 metres along Kim Yam Road. It will be roughly 8 to 9 minutes walk, 600 metres, from the Great World MRT station on the Thomson-East Coast Line.

High-floor units at the Provence Residence EC will have views northwards to Orchard Road, and south-east to the CBD skyline, while lower-floor units will overlook the low-rise Oxley area.

The Provence Residence Condo Location at River Valley near Orchard Road

The Provence Residence Location at River Valley near Orchard Road

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Background to the Provence Residence EC

The Provence Residence site was formerly that of the Riviera Point condominium, that was sold in a collective en bloc sale to the Macly Group for SGD$72 million in February 2018.

(And so echoes of the old Riviera Point name lives on, in the new Provence Residence EC name.)

This land sale price, which works out to around $1,461 per square foot land rate, will allow the Provence Residence executive condo to be very competitively priced in comparison to other similar freehold homes in the vicinity within walking distance of Orchard Road.

This is likely to appeal to investors, as the River Valley area has always enjoyed strong rental demand, given its proximity to the Raffles Place / Shenton Way CBD, and the lifestyle precincts of Robertson Quay and Clarke Quay.

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About the Provence Residence Singapore Neighbourhood

River Valley is in District 9, recognised as the most upmarket residential district of Singapore, around the Orchard Road area. This is an almost exclusively private residential estate on the fringe of the shopping belt.

The Provence Residence EC has the added attraction of being within 1 km of the highly rated River Valley Primary school. It is also within 500 to 600 metres, roughly 8 to 9 minutes walk to Robertson Quay, a favourite dining and wining hot spot along the Singapore River, that is rich in character and ambience.

Shopping-wise, the Provence Residence location is under 10 minutes walk UE Square mall, and 12 minutes to 111 Somerset, and the rest of Orchard Road.

At the moment, the nearest MRT station to the site is Somerset MRT station. But come 2021, the Great World MRT station, 9 minutes walk away, would have completed, which is before the completion of the Provence Residence condo. That should shave walking time to an MRT station by a couple of minutes.

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Project FactSheet

Name Provence Residence
Developer Macly Group
Status Condominium (Foreigners eligible to buy)
Address 2 Kim Yam Road, Singapore 239320
District 09
Site Area 1,354.4 m² (14,579 sq ft)
Floor Area 4,576.8 m² (49,265 sq ft)
Plot Ratio 2.8 (3.379)
Tenure Freehold
T.O.P. Date TBA
No. of Storeys TBA
No. of Units TBA
Architect TBA


The Provence Residence Floor Plans

The Provence Residence EC floor plans are still under review pending approval. Kindly let us know via the Contact Form below if you would like the Provence Residence floor plans mailed to you once finalised.


The Provence Residence EC Site Plan

The Provence Residence Site Location . Context and Neighbours

The Provence Residence Site Location . Context and Neighbours

Provence Residence Singapore sits within a residential enclave at River Valley, with frontages onto River Valley Road to its north, and Kim Yam Road on its east.

It has a rather small and narrow site, but fortunately still enjoys open views all around. Besides its dual road frontages, it faces the rather large expanse of landscaped gardens, facilities and pools of both Urbana to its west, and Martin Place Residences on its south.

Hence even low-floor units will be relatively unblocked. Those facing south and west will get to “borrow” the pool and garden views of its neighbours. Those facing north will overlook the Oxley low-rises.

And high floor units will get views all the way to the Orchard Road and city skylines.


Provence Residence Showflat · Viewing

The Provence Residence EC showflat is not ready yet. Please drop us a note in the Contact Form if you wish to be notified when the showflat is scheduled to open for the VIP Preview.


Provence Residence Prices · Unit Types

The Provence Residence EC Price . Unit Types & Sizes . Click to Open / Close

UNIT TYPES . SIZES

Unit Description Type No. of
Units
Strata Area
(sq m)
Strata Area
(sq ft)
1 Bedroom A TBC TBA TBA
2 Bedroom B TBC TBA TBA
3 Bedroom C TBC TBA TBA
Total Number of Units TBA

Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.

The Provence Residence Pricing . Click to Open / Close

PROVENCE RESIDENCE PRICE RANGES

The Provence Residence prices are not decided yet. Just drop us a line via the Contact Form if you wish us to keep you updated on the indicative pricing.

The Provence Residence EC Price Background . Click to Open / Close

The Provence Residence condo’s site area stands at 14,579 sq ft. The land is zoned “residential” with plot ratio of 2.8 under the URA Master Plan. However the previous gross floor area for Riviera Point was about 49,265 sq ft, which equates to a plot ratio of 3.379.

So the Provence Residence executive condo development will get to keep that plot ratio. Which means that the purchase price of SGD$72 million for the site works out to a land rate of $1,461 per square foot per plot ratio (PSF PPR).

After taking into account all the costs for development, marketing and financing, the break even rate to the developer could go up to $2,100 PSF PPR.

For comparative market analysis, the 99-year leasehold Martin Modern just down the road, behind Martin Place Residences, is selling at $2,600 to $2,800 PSF, and is over 67% sold.

In general, freehold property is priced at 20% to 25% higher than for leasehold property. But the Provence Residence pricing could be lower as it is a smaller development.


Developer Track Record

The Provence Residence executive condo is being developed by MCC Land, part of the MCC Group.

ABOUT THE MCC GROUP

The MCC, or Metallurgical Corporation of China Limited Group is China’s biggest manufacturer of steel structures, and therefore a major driving force behind China’s steel and iron industry . It is also one of its pioneering large-scale enterprises.

With business operations spanning over 90 countries, MCC is one of the largest metallurgical contracting companies in the world as well.

The company is currently listed on both the Hong Kong and Shanghai Stock Exchanges, with assets of more than 60 billion yuan (USD$7.7 billion) across its 70 subsidiaries, either in partnership, or wholly owned.

With its continuous drive for innovation, the Group has amassed 54 State Science and Technology Prizes, 667 national industry quality awards, over 16,241 patents, and 54 State Science and Technology Prizes.

MCC is ranked at the 290th position currently in the Fortune Global 500 index, and 10th under the Engineering News Record’s (ENR) Top 250 Global Contractors index of 2015.

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ABOUT MCC SINGAPORE

MCC Singapore is a wholly owned subsidiary of the MCC Group, and is its South East Asian regional headquarters.

It comprises five core business areas, namely, real estate development, construction, civil engineering and infrastructure, and special steel structure projects. These are handled by the respective companies: MCC Land (Singapore) Limited, China Jingye Construction Engineering (Singapore) Private Limited, China Jingye Engineering Corporation Limited (Singapore Branch), and MCC Bina Sdn Bhd.

MCC Singapore has accomplished much in recent times, in fields such as real estate development, large-scale integrated entertainment parks, project management and public infrastructure projects, and specialised structural steel works.

In recognition of these achievements, it has been conferred the “Top 10 Successful Chinese enterprises entering ASEAN” award, for three consecutive years by the China Asean Business Council (CABC).

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ABOUT MCC LAND (SINGAPORE) LTD

Incorporated since 2010, MCC Land (Singapore) Limited has been actively engaged in Singapore’s real estate market. It has developed five projects, managed another five projects, and co-developed two more projects.

Completed ones include Queen’s Peak at Queenstown MRT station, the Poiz Residences + Centre at Potong Pasir MRT station, Canberra Residences and the Nautical in Sembawang (close to where Provence Residence will be), and the Santorini and the Alps Residences, both in Tampines.

MCC Land has a fair bit of experience in developing executive condominiums too. The ones under its belt include Northwave and Forestville in Woodlands, Sea Horizon in Pasir Ris, and One Canberra and the Canopy in Sembawang.

The company has been ranked among Singapore’s top 10 real estate developers for three years consecutively, and has won an “Asia’s Top Influential Brands” award.

Over the last few years, MCC Singapore has expanded its operations to countries such India, Indonesia, and Malaysia. For instance, MCC Bina Sdn Bhd was established in 2012 as the Group’s gateway to Southeast Asia, and currently undertakes large-scale projects in Malaysia.

Five Nine by Macly Group . Developer for The Provence Residence Singapore

Five Nine by Macly Group . Developer for The Provence Residence Singapore

Infinitum in KL by Macly Group . Developer for The Provence Residence Executive Condo

Infinitum in KL by Macly Group . Developer for The Provence Residence Executive Condo


The Provence Residence Location · Features

Amenities & Neighbourhood

The Provence Residence Location . Amenities & Neighbourhood

  1. Location. The site is at 2 Kim Yam Road, at a corner with River Valley Road. It sits on the fringe of the Orchard Road shopping belt, and is also near the Raffles Place / Marina Bay business and financial districts.
  2. Shops, Banks, Hotels, Supermarkets, F&B. This part of River Valley is around the Killiney Road area, that leads to the Somerset part of Orchard Road. A 15 minute stroll will take you to Orchard Road itself. Singapore’s longest shopping street lined with lots of retail, lifestyle and dining choices. For a touch of the old, we have the coffee-shops along Killiney Road.

    However if you want something nearer, head over to Robertson Walk or UE Square Mall, around 650m or 9 minutes walk away.

  3. Lifestyle Amenities. The Provence Residence EC location is rather close to Robertson Quay too. This is a hot spot for dining and chilling out at, with its wine bars and pubs, bistros, restaurants, alfresco dining cafes, and art houses. It is a favourite with locals and expats, exuding a cosmopolitan feel mixed with the rich heritage and character of the quay right on the edge of the Singapore River.
  4. Robertson Quay near the Provence Residence Singapore

    Robertson Quay near the Provence Residence Singapore

  5. Schools. We have River Valley Primary School within walking distance of the Provence Residence executive condo location, and certainly within a 1 km radius. While within the 2 km radius, there are Alexandra Primary School at Prince Charles Crescent, Anglo-Chinese (Junior) at Winstedt Road, and St Margaret’s Primary at Wilkie Road.

    We have international schools nearby too, such as the International School Singapore (Paterson Campus), and the Chatsworth International (Orchard Campus) at Cairnhill Road.

  6. Nearest MRT Station. The Provence Residence location is 800m, or about 12 minutes walk to Somerset MRT station on the North-South red line. But when the Great World MRT station on the Thomson-East Coast Line starts operations in 2021, it will provide a slightly nearer option.
  7. Accessibility. The Provence Residence condo location is within the Core Central Region, which makes for quick access to the major central business centres. It will take roughly 10 minutes drive off-peak to get to the Marina Bay / Raffles Place Financial Districts, which is why River Valley is favoured by tenants. This location also offers fast access to the CTE (Central Expressway) via Oxley Road.


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