THE ARCADY CONDO AT BOON KENG
Freehold New Launch @ City Fringe . Kallang
Register for Updates . 6 Mins Walk Boon Keng MRT Station
Register for Updates . 6 Mins Walk Boon Keng MRT Station
This is a review of the Arcady at Boon Keng, a new high-rise freehold residential development on the city fringe. It is being launched by a collaboration of KSH Holdings and SLB Development, who specialise in boutique projects. They offer buyers the chance to own freehold homes in fairly central locations, at more affordable prices.
In the Arcady condo’s case, it occupies the site of the former Euro-Asia Apartments in District 12 at Kallang. This plot, at 56,475 square feet and possibly offering 172 units, is considered a decent size for a freehold launch.
Note: This is NOT an advertisement for sale.
Located at the corner of Serangoon Road and Barnabas Lane, it is 6 minutes walk from Boon Keng MRT station. That puts it three train stops from Doby Ghaut station at Orchard Road, and four stops from Clarke Quay station.
This offers a way of getting hold of a fairly central freehold home, without the stratospheric price tags of those in the city centre itself.
Freehold property has always enjoyed staunch support from a loyal following. Besides the comfort of its ‘perpetuity’ tenure, it tends to retain value better over the long term. Age also does not adversely affect buyers on the resale market trying to get bank loans.
The Arcady at Boon Keng Condo . Neighbourhood
The project sits between Whampoa and Kallang Rivers, near Boon Keng MRT station, within the Kallang Planning Area. This planning area and residential zone is centred around the Kallang River, the longest river in Singapore. It is located within the Central Region, specifically in the RCR (Rest of Central Region) zone.
The neighbourhood is not just a mature estate, but some of it is quite old too. Parts of that are undergoing rejuvenation, which is inevitable, given the value of such land so close to town. The Arcady condo development adds to this gentrification, that will hopefully over time, raise the value of surrounding real estate.
As for amenities, residents here do have access to some within walking distance. There is the Bendemeer Market & Food Centre, and the smallish Bendemeer Shopping Centre, beside Boon Keng MRT station. No big malls nearby unfortunately. But it can be argued that the luxury of Orchard Road shopping is just 8 minutes train ride away.
A couple of useful amenities nearby are the Kwong Wai Shiu Hospital, and Kallang Polyclinic, both about 12 minutes walk up Serangoon Road.
The site is also close to the park connectors running beside Kallang and Whampoa rivers, that link to Kallang Basin. These form part of the island-wide park connector network, with its walking and cycling trails.
In addition, there are schools within easy reach. The closest is Bendemeer Primary School just opposite Serangoon Road. But the most well-known are probably St. Andrew’s Junior, and St. Andrew’s Secondary schools at Potong Pasir.
The nearest exit to the Pan-Island Expressway is a 1KM drive down Serangoon Road, just before Potong Pasir.
The Arcady Condo Launch . Analysis
The last new launches in the vicinity, those of Myra, 1953, and Jui Residences, have all sold out. While all freehold as well, they were smaller projects on more compact grounds, with therefore less communal facilities and landscaping.
In that sense, the Arcady condo is a more attractive proposition, as it has more land, facilities, and economy of scale. It is also a closer walk to an MRT station than 1953 or Jui Residences. Given its proximity to the CBD, it should fare quite well where rental demand is concerned too.
With these attributes and no nearby competition currently, the Arcady launch ought to elicit quite a bit of interest. Much will of course depend on what kind of pricing the developers decide to set it at. That will only be disclosed at the launch itself, likely in the last quarter of 2023.
In the meantime, the closest comparisons are possibly the final sales at Myra before it sold out in July 2023. The last four units, all two bedders, sold at around $2,500 to $2,700 PSF, varying with floor level.
Larger units just before that went for lower PSF pricing, even down to around $2,200 PSF for the biggest ones, as is the usual pattern. Earlier prices for the Myra launch were even lower, but that is history, and prices have moved with the times.
Register interest or request details here.
|Name||THE ARCADY AT BOON KENG|
|Developer||KSH Ultra Unity
(JV of KSH Holdings, H10 Holdings & SLB Development)
|Status||Condominium (Foreigners eligible to buy)|
|Address||1037 Serangoon Road Singapore 328170|
|Site Area||5,246.65 m² (56,475 sq ft)|
|Floor Area||14,690.6 m² (158,130 sq ft)|
|Plot Ratio||2.8 (3.379)|
The Arcady Condo Floor Plans
The Arcady at Boon Keng floor plans are being finalised. Kindly let us know via the Contact Form below if you would like a copy of the Arcady floor plans when it is ready.
The Arcady at Boon Keng Site Plan
The Arcady at Boon Keng sits on an almost square shaped land parcel along Serangoon Road. It enjoys a fairly open outlook, as it is relatively unblocked on most sides.
For instance, to its south-east across Serangoon Road is a field zoned as open space, beyond which is the low-rise Bendemeer Primary School. While eastwards beside the field, is a row of old shophouses, behind which are landed homes at Beng Wan Road.
Similarly south-west of the site, across St. Barnabas Lane, is another row of old shophouses, and some terraced houses. On the other side, to the north and north-east, are a handful of churches and a house temple. All of which are satisfyingly low-rise.
It is to its west / north-west that it encounters high-rises, the HDB blocks of St. George’s East Gardens.
Since the Arcady condo will be high-rise, upper floor units should be able to get relatively open views to the north, north-east, east, south-east, and south-west.
The Arcady Showflat · Viewing
The Arcady condo showflat is not available yet. Please drop us a note via the Contact Form if you wish to be notified when the showflat is ready to take viewing appointments.
The Arcady Condo Prices · Unit Types
UNIT TYPES . SIZES
|Unit Description||Type||No. of
|Total Number of Units||TBA|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
THE ARCADY PRICE RANGES
The Arcady condo prices have not been disclosed yet. Just drop us a line via the Contact Form if you wish us to keep you posted on the indicative pricing.
THE ARCADY AT BOON KENG COST ESTIMATES
The land for this project was the site of the former Euro-Asia Apartments, sold collectively via public tender. The developer, KSH Ultra Unity Pte Ltd, acquired it at a cost of S$222.18 million.
The site spans an area of 56,475 square feet. The land is zoned “Residential”, with gross plot ratio of 2.8 under URA’s 2019 Master Plan. That allows KSH to build up to a total of 158,132 square feet of gross floor area (GFA).
No development charge needs to be paid. Hence, excluding balcony bonus area, the land rate works out to $1,405 PSF PPR (per square foot per plot ratio).
After allowing for development costs, financing and overhead charges, the break even could add up to above $2,000 PSF PPR. This is especially in view of today’s high interest rate, high material and manpower cost, environment.
As for the final selling price, that has not been decided or disclosed yet. The closest comparisons are possibly the final sales prices at Myra, and the ongoing pricing at freehold Continuum in Katong. Those start upwards from around $2,5xx PSF.
Developer for The Arcady at Boon Keng
The Arcady residences is being developed by KSH Ultra Unity Pte Ltd. KSH Ultra Unity is a collaboration of KSH Holdings Limited (49% share), H10 Holdings (36%), and SLB Development (15%).
As the largest shareholder in this venture, KSH Holdings will drive the development and launch of the project.
About KSH Holdings Limited (“KSH” or the “Group”)
KSH is an established property development, investment, and construction group that was founded as far back as 1979. It has been listed on Singapore’s SGX-ST mainboard since February 2007.
With its roots in the construction industry, it is an A1-graded contractor under BCA’s CW01. That means it has the ability and capacity to tender for public sector construction projects of unlimited value. Over the years, it has built a track record as main contractor for private and public sector projects in Singapore.
In the course of their work, KSH has picked up a number of BCA Construction Excellence Awards. These have included for work on NUS University Town’s Education Resource Centre, NUS University’s Sports Centre, Madison Residences, Mount Alvernia Hospital, and the Fullerton Bay Hotel.
The Group’s property investment and development initiatives also spans various real estate sectors, often through joint ventures and strategic alliances. These have included residential and hospitality, as well as commercial and mixed-used developments.
It has successfully executed both mixed-use and residential developments in Singapore and the PRC (China). Some of those are Lincoln Suites, KAP and KAP Residences, Cityscape @ Farrer Park, Sky Green, the Boutiq, and Newest.
It has also, in partnership with others, acquired real estate in places like Australia, Malaysia, the UK, and Japan. KSH intends to continue to broaden its business, and to explore new market opportunities in a sustainable manner.
The Arcady Condo Location · Features
Location. The Arcady location is at the city-fringe, in a mature residential estate between Little India and Potong Pasir. Homes in this neighbourhood are popular due to their proximity to the city centre and the CBD. Previous launches in the vicinity – such as 1953, Jui Residences, and Myra – have all sold out.
Nearest MRT Station. The closest MRT station to the Arcady condo location is Boon Keng station on the North-East Line. This is about 400 metres, or roughly 6 minutes walk away. The North-East line provides direct access to Orchard Road via Doby Ghaut station, and to Clarke Quay and Chinatown as well.
It runs from Punggol in the north-east of Singapore, to Harbourfront and VivoCity in the south. Along the way it links to the Circle Line at Serangoon, the Downtown Line at Little India, the North-South Line at Doby Ghaut, and the Thomson-East Coast and East-West lines at Outram. Quite a useful line to be on.
Market, Shops, Food Outlets. There is no big shopping centre within walking distance of the Arcady residence location. However there are quite a number of shops and F&B outlets nearby, among the shophouses lining Serangoon Road, as well as in the surrounding HDB blocks.
In addition, there is Bendemeer Market & Food Centre beside Boon Keng MRT station, along with a small neighbourhood mall.
From the station, it is a quick and easy 8 minute train ride to the Orchard Road shopping district. As well as access to shopping centres like Mustafa Centre, Woodleigh Mall, and NEX.
Schools & Educational Institutes. This place is within 1km of St Andrews Junior School, St Andrews Secondary School, and St Andrews Junior College. It is also within 2 km of Pei Chun Public School, and Cedar Primary School.
Accessibility / Connectivity. The Arcady at Boon Keng location is fairly central. Off-peak, it is within 10 minutes drive to Orchard Road, 15 minutes to the CBD. The exits to the CTE (Central Expressway) and PIE (Pan Island Expressway) are roughly 3 minutes drive up Serangoon Road. That makes for convenient travel to all corners of Singapore via the island-wide expressway network.