RIVERFRONT RESIDENCES CONDOMINIUM
Riverfront Residences is a new condominium facing Serangoon River and park connector, on the site of the former Rio Casa in Hougang. It is being developed and will launch for sale in 2nd quarter of 2018.
It is around 12 minutes walk to Hougang MRT station on the purple North-West line, that goes to Punggol and Waterway Point on one end, and to Doby Ghaut in Orchard Road, Clarke Quay, Chinatown, and Harbourfront on the other.
Where the Riverfront Residences condo is located is an established housing estate. In fact this riverfront condo is one of a few strung out along Sungei (River) Serangoon Reservoir, the latest of which was Kingsford Waterbay that is currently over 93% sold.
Of the condominiums around the river that were launched for sale in the last 10 years or so, like Boathouse Residences, Kingsford Waterbay and Heron Bay, Riverfront Residences is probably the closest to an MRT station. If you are prepared to walk around 12 minutes, much of it cutting under the shelter of the HDB flats in between, you can avoid taking a bus to the station.
Riverfront Condo . Highlights
In addition, Riverfront Residence has the advantage of having a long frontage to the river – more than 200 metres of calming waterfront and greenery views. Looking at the URA Master Plan, this and its next door neighbour are the only two sites with park zoning across the river (green on the map below).
So facing this riverfront condo beyond the 100m or so stretch of river, will be a park roughly 80m to 130m wide. Adds up to water and greenery views for quite a way.
These attributes plus its walkable proximity to the malls and upcoming Integrated Transport Hub at Hougang Central, led to strong interest from developers at the en bloc sale of this Rio Casa site. As there will be no other new launch in the immediate vicinity in the near to medium term, a fair bit of interest is expected from buyers too, for the launch of this project.
RIVERFRONT RESIDENCES CONDO · FACTSHEET
|Developer||JV of KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital|
|Status||Condominium (Foreigners eligible to buy)|
|Address||344 Hougang Avenue 7, Singapore 530344
345 Hougang Avenue 7, Singapore 530345
346 Hougang Avenue 7, Singapore 530346
347 Hougang Avenue 7, Singapore 530347
348 Hougang Avenue 7, Singapore 530348
349 Hougang Avenue 7, Singapore 530349
350 Hougang Avenue 7, Singapore 530350
|Site Area||36,811.1 m² (396,234 sq ft)|
|Floor Area||103,071 m² (1,109,457 sq ft)|
|Tenure||99 years leasehold|
|No. of Units||Approximately 1,200|
RIVERFRONT RESIDENCES FLOOR PLANS
The Riverfront Residences condo floor plans are not finalised yet. Kindly drop us a note below if you would like the Riverfront Residences floor plans to be emailed to you once available.
RIVERFRONT RESIDENCES SITE PLAN
The Riverfront condo site is a longish land parcel fronting Hougang Avenue 7 on its east. On its west the northern section of the site faces a HDB estate. Its middle fronts a neighbourhood park and beyond that to the landed houses of St. Xavier’s Lane and Jalan Lye Kwee.
So analysing the site, the middle part will apparently have the better views, either eastwards or westwards.
RIVERFRONT RESIDENCES SHOWFLAT · VIEWING
The Riverfront Residences showflat is not open for viewing yet. Please drop us a line below if you wish to be kept posted on when the Riverfront condo showflat opens.
RIVERFRONT RESIDENCES SINGAPORE
This video takes you along the Serangoon River park connector, with glimpses of the river that runs beside it at times. The 8km long river starts as a canal near Tampines Road, widens before it passes Riverfront Residence and then flows into Serangoon Harbour. This river is also known as Serangoon Estuary, and been converted to a reservoir since 2011, the Serangoon Reservoir.
RIVERFRONT RESIDENCES PRICES · TYPES
UNIT TYPES . SIZES
|Unit Description||Type||No. of Units||Strata Area
|Total Number of Units||Approx. 1,200|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
RIVERFRONT RESIDENCES PRICE RANGES
Status as at 15 April 2018 – prices not finalised yet. Please drop us a note below if you wish to be kept posted on indicative pricing.
As at other launches, the Riverfront Residences condo prices will only be announced on the day sales open, though an indicative pricing will likely be released earlier. In the meantime, analysts have given some estimates as follows.
The land for this Riverfront condo was originally the Rio Casa site, sold collectively to Oxley-Lian Beng Venture Pte Ltd for $575 million in May 2017.
On top of the collective sale price, there is an estimated additional differential premium of $208 million payable to the State to top up the lease to a fresh 99 years, and to develop the site to its maximum gross plot ratio (GPR) of 2.8.
This translates to a land rate of about $706 per square foot per plot ratio (PSF PPR). Adding the 10% balcony bonus brings the plot ratio up to 3.08 (2.8 + 10% balcony), and land rate down to approximately $669 PSF PPR.
At that time the Rio Casa pricing seemed high. But compare it to the cost of land since then. The nearest most comparable examples being the S$835 PSF PPR that Oxley itself paid for the 2.76ha Serangoon Ville collective sale site, and the S$964 PSF PPR paid by Keppel-Wing Tai for a Serangoon North site (both in July 2017), neither of which are easy walking distance of an MRT station.
So in retrospect, Riverfront Residence prices should benefit from getting its site in the early days of the current enbloc fever. Its pricing will be able to start from a base of $130 to $250 less than the nearest upcoming launches.
Assuming construction and development cost of around $500+ PSF, break even works out slightly over $1,150 PSF. So selling price could be in the region of $1,350 to $1,450 PSF.
RIVERFRONT RESIDENCES · DEVELOPER
Oxley Holdings Limited (“Oxley” or “the Group”)
Oxley Holdings is currently one of the most prolific developers in Singapore, with a capitalisation of almost $2 billion as of January 2018. They have built over 1,635 homes, and won numerous design and development awards, including for a Royal Wharf project in London (2015).
From a small start, Oxley has grown to the point that it now has a presence across 12 markets. Its portfolio covers residential, industrial and commercial developments in Singapore, Malaysia, China, Indonesia, Australia, the UK, Japan, Cyprus, Ireland, Vietnam, Cambodia, and Myanmar.
As part of its strategy, Oxley has entered into partnerships with local and overseas developers. In 2013 it acquired a 20% stake in Galliard (Group) Limited in the UK. After that it also acquired a 40% stake in Pindan Group Pty Ltd (Western Australia), and a 15% stake in United Engineers, a Singapore engineering and property development company founded in 1912.
KSH Holdings Limited (“KSH” or the “Group”)
KSH is a property development, construction, and property investment group incorporated in Singapore in 1979, and listed on the SGX-ST since February 2007.
It is an A1-graded contractor with the ability to tender for public sector construction projects of unlimited value, and a track record of construction projects across a wide spectrum of industries. It has also executed residential and mixed-use development projects in Singapore and China.
KSH has won numerous BCA Construction Excellence Awards, such as for Fullerton Bay Hotel & NUS University Town Education Resource Centre in 2013, and Madison Residences in 2014.
Lian Beng Group
The Lian Beng Group was established in 1973 and is a major home-grown construction group. It is largely the main contractor for construction & civil engineering projects. Its status as a BCA A1 grade contractor enables it to tender for public sector projects of unlimited contract value.
Lian Beng has also developed projects such as Derbyshire Heights and Rocca Balestier.
RIVERFRONT RESIDENCES LOCATION · FEATURES
Location. The Riverfront Residences condo location is in the long-time residential estate of Hougang, beside the Serangoon Reservoir River. 50 or 60 years ago, this was a Teochew stronghold, near to Kangkar (the river mouth) where the fishing boats used to put in at dawn with their catch. It has evolved a lot since then.
Shops, F&B, Supermarkets. Hougang Mall and Kangkar Mall supplies all the necessities and a bit more, at Hougang Central around 10 minutes walk away. Or you could take the train a couple of stops down to Nex at Serangoon Central.
Alternatively, a 5 to 10 minute bus ride down Serangoon Road will bring you to the food joints of Kovan, its coffee shops and traditional fare.
Schools. The Riverfront Residences location is within 1 km of CHIJ Convent (Punggol) and Holy Innocents Primary School (one of the more sought after primary schools in Singapore).
Nearest MRT Station. Take a feeder bus or walk about 12 minutes to Hougang MRT station at Hougang Central.
Parks and Nature Walks. The Riverfront condo location is just opposite the Serangoon River Park Connector, a walking & cycling track that leads to the greenery and facilities of Punggol Waterway. Or you could take a 5 to 6 minute stroll to Punggol Park and its pond.
- 1 to 3 Mins Walk to MRT
- 10 to 12 Mins Walk to MRT
- 13 to 15 Mins Walk to MRT
- 16 to 18 Mins Walk to MRT
- 19 to 21 Mins Walk to MRT
- 22 to 24 Mins Walk to MRT
- 25 to 27 Mins Walk to MRT
- 28 to 30 Mins Walk to MRT
- 4 to 6 Mins Walk to MRT
- 7 to 9 Mins Walk to MRT
- Deferred Payment Scheme
- Luxury High-End Project
- Near Park / Nature Reserve
- Near Reservoir
- Near Shopping Mall
- Near Sports Complex
- Payment Scheme
- Prime District
- Progressive Payment Scheme
- Proximity to Primary School
- Sea / Water Views
- Special Discounts
- Special Features
- Star Buys
- Walk to MRT
- Within 1KM of Ai Tong Primary School
- Within 1KM of Catholic High
- Within 1KM of Cedar Girls Primary School
- Within 1KM of Holy Innocents Primary School
- Within 1KM of Maris Stella
- Within 1KM of Nan Chiau Primary School
- Within 1KM of Nan Hua Primary School
- Within 1KM of Ngee Ann Primary School
- Within 1KM of Raffles Girls Primary School
- Within 1KM of River Valley Primary School
- Within 1KM of Rosyth Primary School
- Within 1KM of St Andrews Primary School
- Within 1KM of Tao Nan Primary School
Queries · Viewing · Registration of Interest
· For Priority to View & Choose Units
· Developer Preview Discounts & Prices
· No Agent Fees or Charges