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THE CONTINUUM CONDOMINIUM

Freehold New Launch @ Thiam Siew Avenue
Register for Updates . East Coast District 15

Welcome to the review of the Continuum condo launch at Thiam Siew Avenue. This is a new upcoming freehold residential development for sale in the Katong neighbourhood of Singapore.

Katong is considered part of the prime East Coast area and falls under District 15, within the Marine Parade Planning Area. This lies in the RCR (Rest of Central Region) zone as defined by URA. It is hence relatively close to the city centre, and the central financial and business districts of Marina Bay and Raffles Place.

The Continuum Condo Location at Katong near Paya Lebar . Overview of Surroundings

The Continuum Condo Site at Katong near Paya Lebar . Overview of Surroundings

It is also one of the more attractive projects on the market in recent years. Not least because, at close to 800 units, it is unusually large for a freehold site. Such large freehold sites are prized for good reason, as they hold better value long term.

The developer for this project is a joint venture of long term partners, Hoi Hup Realty and Sunway Developments. (Their last launch was Ki Residences near Sunset Way, with very well-designed layouts and nice finishes.)

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The Continuum Singapore . Overview

In the case of the Continuum condo, it stands out for possessing the largest freehold land area in recent times. With 263,794 square feet of land, it can accommodate 800 apartments, making it one of the biggest freehold condos around.

The Continum Condo Location View . Source Google Maps

The Continum Condo Location View . Source Google Maps

While freehold condominium launches are not very rare, most are on the smaller side, usually under 100 units. That’s because freehold sites only come about through collective or en-bloc sales of old freehold projects or individual bungalows.

Small freehold sites, however, lack the grounds for lots of facilities and gardens. They also lack the scale to generate an appreciable volume of turnover for rentals and resale, and so typically enjoy less demand than for larger ones.

Transaction volume is important. For prices to move, there must be an ongoing flow of recent transactions. Banks value a development based on the latest transacted prices. If transactions are few and far between, their assessed values would not rise as quickly.

Which is why, freehold launches with over 200 units that are rarer, like the Continuum condo, attract much more attention. The more units there are, the more active and vibrant a rental and resale market later. There is enough critical mass to command interest.

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The Land for the Continuum Condo Site

The reason for the land size is because it is an amalgamation of two large development plots. They, in turn, are aggregated from 22 freehold pre-war semi-detached houses and bungalows flanking both sides of Thiam Siew Avenue, a residential street of landed homes beside Tanjong Katong Road.

Thiam Siew Avenue Condo . Original Land Parcels . From Google Maps

Thiam Siew Avenue Condo . Original Land Parcels . From Google Maps

These plum sites all belonged to a single family trust. The trust sold the plots via public tender in November 2021, to Hoi Hup Sunway Developments for S$815 million.

According to Galven Tan, Deputy Managing Director of Savills Singapore that brokered the deal, Thiam Siew Avenue is a popular and mature neighbourhood and the site a highly coveted one.

Wong Swee Chun, the managing director and chairman of Hoi Hup Realty, said they were interested as the sites are rare freehold ones in east Singapore. He elaborated further to say, “In today’s competitive real estate market, we are very confident of the demand for quality freehold developments, especially for these big freehold plots in District 15.”

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Continuum Condo Location

The Continuum condominium site lies between Haig Road and Tanjong Katong Road, within the residential enclave of Katong.

Katong, together with Marine Parade and Mountbatten, form the prime private housing estates of District 15. Which, traditionally, ranks among the most coveted residential districts outside the central 9,10, 11 ones.

This area has, for historical reasons, been mainly populated with private homes, and even a few Good Class Bungalows.

Katong these days still preserves a fair bit of old Singapore, with remnants of its rich cultural heritage. Perhaps that explains why it exudes an old-world charm, and more laid-back ambience than elsewhere on the island.

The Continuum Location Plan . Click to Enlarge

The Continuum Location Plan . Click to Enlarge

Almost in contrast, to the north and west of the Continuum Singapore, Paya Lebar and Kallang respectively are undergoing development into vibrant economic and lifestyle hubs. This location therefore combines both worlds; the new with the old, the future with the past.

Residents here stand to benefit especially from the close proximity to the Paya Lebar Central precinct. This precinct is just one out of nine selected to join URA’s pilot Business Improvement District program, in a drive to rejuvenate the city.

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Views

Thiam Siew Avenue Continuum Condo Site

Thiam Siew Avenue Continuum Condo Site

The site itself was originally occupied by single-storey pre-war houses, flanked by high-rises on both its north and south. But being zoned with a plot ratio of 2.8 on the 2019 Masterplan, it will now go high-rise too.

It will thus match the heights of its neighbours to its north, east, and immediate south. Those neighbours immediately south are mainly standalone private apartment blocks. Beyond that further south, and especially west, the land is zoned for, and filled with low-rise landed housing. These span quite a distance, with open vistas.

Hence some units may get pocket views between those blocks, southwards over the landed estate, towards East Coast Park. And with the wind tunnel effect, there is likely to be plenty of wind flow too.

The Continuum Site Location View . Source Google Maps

The Continuum Site Location View . Source Google Maps

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Connectivity

Being within the RCR makes for quick connectivity to town and other major nodes. Off-peak it should take under 20 minutes drive to get to Changi Airport, and 15 minutes to the CBD, via the East Coast and Marina Coastal expressways.

Several bus services ply Geylang Road nearby too, with some going into the city centre.

As for train services, the Continuum condominium is about 9 minutes walk to Dakota MRT station on the Circle Line. Dakota station is around 15 minutes train ride from Suntec City and Marina Bay.

The Continuum is also about 13 minutes walk to Paya Lebar interchange MRT station, as well as the malls there.

Market Context . Trend of Launches . Click to Open / Close

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The Continuum Launch . Context

The 2018 / 2019 wave of launches was an interesting one. It saw a high number of new launches, that also included several mega projects (mainly from former HUDC land). So much so that buyers had a feast of choices, and there were fears that some of the mega launches might incur ABSD if they could not sell out in time.

Today all those choices, and fears, are long gone. Almost all those projects, including the mega ones, have sold out, or are close to doing so.

The current batch, starting 2021 / 2022, are dominated by more average sized launches. There are also fewer of them.

This partly explains why recent launches such as Piccadilly Grand, Liv@MB, AMO Residence, and Sky Eden have achieved 75% to 98% sales on their first day alone. Even the bigger 605-unit Lentor Modern cleared 84% upon opening, including selling out all its one and 2 bedders.

To the extent that many buyers who did not get a good queue number at the balloting, left empty-handed.

The Continuum launch, at close to 800 units, will be one of the few big ones this time. It will therefore allow buyers to stand a better chance of getting their hands on a unit. Even possibly a one or 2 bedder. The other advantage of its larger size, is of course having the luxury of generous grounds for landscaping and facilities.

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    Project FactSheet

    Name The Continuum
    Developer Hoi Hup Realty & Sunway Developments
    Status Condominium (No restrictions on ownership)
    Address 8 Thiam Siew Avenue Singapore 436846
    District 15
    Site Area 24,507.06 m² (263,794 sq ft)
    Floor Area 68,619.8 m² (738,623 sq ft)
    Plot Ratio 2.8
    Tenure 99 years leasehold
    Architect TBA


    The Continuum Floor Plan

    The Continuum floor plans are not available yet. Please drop us your contact details in the Form below if you wish us to email or WhatsApp them to you once finalised.


    The Continuum Site Plan

    The Continuum Singapore is located in a residential enclave between Tanjong Katong Road and Haig Road. It occupies the land aggregated from 22 freehold residential plots along both sides of Thiam Siew Avenue. Thiam Siew Avenue itself has been subsumed in too, adding up to a total land area of 263,794 square feet.

    The final amalgamated site is hence composed of two rectangular plots, one longer than the other. Together they form a regular L-shaped land parcel, with its long sides facing north and south.

    This parcel is zoned under URA’s masterplan for residential use, with a plot ratio of 2.8.

    To both its north and south, if fronts rows of private apartment blocks. These are single blocks on small sites with a fair bit of space between them, avoiding a fortress-like effect.

    This is especially useful on the south side, as beyond that row, is the row-rise landed Mountbatten housing estate. Which affords pocket views for quite a long distance, practically all the way to East Coast Park.

    It also potentially allows for good wind flow. And as both long sides do not front any roads either, it ought to be a pretty quiet environment here.


    The Continuum Showflat

    The Continuum condo showflat is not ready yet. Please drop in your contact details via the Form below if you wish to be notified when the showflat is available to take viewing appointments.

    Artist’s Impression . Ki Residences Showflat by Hoi Hup Sunway

    Artist’s Impression . Ki Residences Showflat by Hoi Hup Sunway


    The Continuum Prices · Unit Types

    The Continuum Condo 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
    4 Bedroom D TBC TBA TBA
    5 Bedroom E TBC TBA TBA
    Total Number of Units TBA

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

    The Continuum Condo Prices . Click to Open / Close

    DUNMAN RESIDENCES PRICE RANGES

    Pricing for this Thiam Siew Avenue condo has not been finalised yet.

    Please let us know via the Contact Form if you wish to be kept posted on the pricing once finalised.

    Development Costs . Click to Open / Close
    THE CONTINUUM PRICE BACKGROUND

    Hoi Hup Realty and Sunway Developments bought these freehold land parcels at Thiam Siew Avenue for SGD$815 million. The joint venture partners’ offer topped the bidding at the close of the public tender exercise on 18 November 2021.

    The land price for the 2.45 hectare site, with its 2.8 plot ratio, works out to about $1,488 PSF PPR (per square foot per plot ratio). This is after taking into account an estimated development charge of SGD$284 million.

    On that basis, the break even could come to around $2,100 PSF after adding construction and other development charges. Construction costs especially have spiked in recent years, both globally and locally, and put pressure on profit margins.

    Nicholas Mak, Head of research and consultancy at ERA, is expecting launch prices of around $2,400 to $2,630 PSF.

    Other freehold residential launches in District 15 currently with units for sale include Meyer Mansion, MeyerHouse, and Amber Park. Their pricing ranges from around $2,5xx PSF (for the biggest units) to around $3,1xx PSF at Meyer Mansion.


    Developer Track Record

    The Continuum Singapore is being developed by Hoi Hup Sunway, a collaboration of Hoi Hup Realty, and Sunway Developments Pte Ltd..

    Both are reputable and long established developers, with several decades of experience and expertise between them.

    Amongst their joint venture efforts in Singapore, are projects like Ki Residences at Brookvale, Miltonia Residences, The Peak @ Toa Payoh, Sea Esta, Vacanza @ East, and the upcoming freehold Terra Hill at Pasir Panjang. They also worked together on a mixed-use development, the 33-storey high Royal Square at Novena with Courtyard @ Marriott.

    Courtyard Marriott by Hoi Hup Sunway

    Courtyard Marriott by Hoi Hup Sunway . Developer for the Continuum Residences

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    About Hoi Hup Realty Pte Ltd (“Hoi Hup” or the “Group)

    Hoi Hup Realty is a home-grown property development company, inaugurated in Singapore in 1983. It is a niche player, with several projects under its belt.

    These span a diversity of types, from landed and cluster housing, to private and executive condominiums, and mixed-use developments. At the time of writing, Hoi Hup has contributed close to 8,000 new homes to Singapore’s housing supply.

    Among them are Suites @ Cairnhill, Waterford Residence, Residences @ Killiney, Shelford 23, The Ford @ Holland, Sophia Hills @ Mount Sophia, and The Foresta @ Mount Faber.

    What Hoi Hup brings to the table, is its accumulation of experience and expertise over the years. It is dedicated to leveraging on that, to create quality products. As such, it has clinched a number of awards and accolades in recognition its standards of build quality. It also won BCI Asia’s Top 10 Developer Awards for several years.

    Ki Residences by Hoi Hup Sunway . Developer for the Continuum Singapore

    Ki Residences by Hoi Hup Sunway . Developer for the Continuum Singapore

    Hoi Hup is currently building Ki Residences @ Brookvale too, in partnership with Sunway Developments. This project has sold over 96% of its 660 units since its launch in early 2021. Perhaps because they understand what buyers need and want, and translate that into homes that epitomise functionality and comfort.

    Sophia Hills by Hoi Hup

    Sophia Hills by Hoi Hup . Developer for the Continuum Condo

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    About Sunway Developments Pte Ltd (“Sunway”)

    Sunway Developments is a wholly-owned unit of the Sunway Group, a long-established Malaysian conglomerate. Its main business areas are in property development and investment, real estate REITS, design and construction of mega-projects (such as Sunway City), building materials supply, education, leisure & hospitality, and IT.

    It has played a role in the transformation of Singapore as well, having undertaken both private and public sector work. Sunway has been involved in Design & Build projects too, and is also one of Singapore’s leading concrete pre-casters.

    It has been conferred several awards by international bodies, such as FIABCI and IFAWPCA, in recognition of its work.


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