THE RYSE RESIDENCES
Mixed-Use Development @ Pasir Ris Town Centre
This is a review of the upcoming The Ryse Residences. This is a mixed development that is being built in the heart of Pasir Ris town centre, right next door to Pasir Ris MRT station.
The developer for this project is Phoenix Commercial Pte Ltd, hand in hand with Phoenix Residential Pte Ltd. Both are companies under a consortium of Kerry Properties and Allgreen Properties, members of the Kuok Group of Companies.
Note: This is NOT an advertisement for sale.
This integrated development will consist of both commercial as well as residential components directly linked to the town plaza, as well as the bus interchange. There is a covered link to the Pasir Ris MRT station too, that provides ease of connections to public transport for its residents.
This is a sizeable project, in a prime location close to amenities. As such it will serve as a landmark meeting point for residents in Pasir Ris estate.
There is no indicative pricing yet, but market expectations are that it should be close to similar integrated developments in other HDB estates. Examples abound, with notable ones being Sengkang Grand Residences at Buangkok MRT station, currently selling at around $1,6xx PSF, as well as the sold out Watertown above Waterway Point, at Punggol MRT station, and NorthPark Residences at Yishun.
Such integrated projects offer great convenience to its residents, which is especially appreciated by retirees, busy families, and tenants who usually don’t own a car.
The Ryse Condo . Background
The site for this project was awarded based on the dual envelope concept and price tender scheme. This scheme was adopted by URA, and HDB in this case, in order to give greater priority to quality over price, while not totally ignoring the price element altogether.
It is hoped that with such a dual envelope scheme, the Pasir Ris 8 site will see a project of calibre, with well-designed public areas, and good integration with amenities.
How this scheme works is that it is a 2-stage tender evaluation process. In the first stage, only concept proposals that satisfy most of certain set design criteria are passed by the Concept Evaluation Committee to the 2nd stage.
At the 2nd stage, the tender price envelopes for the shortlisted concepts, are opened. The highest bidder among these is then usually the one offered the site. In this case, it turned out to be the joint venture of Allgreen and Kerry Properties.
The tender for this particular land parcel launched on 27 August 2018, and ended on 14 December 2018. It is a white site, which means that so long as they included certain minimum components, the developer could suggest alternative usages as well.
This Ryse Residences site was awarded to the top bidder on 22 March 2019.
The Ryse Residences . Locational Attributes
Pasir Ris is sometimes seen as being too far away, at the extreme east end of Singapore. But what is often forgotten, is that it is actually just the next township after Tampines, which happens to be one of the more sought after HDB estates.
In addition, it is one of the closest estates to Changi International Airport, which is a major transport hub. Furthermore, with the rise of Changi Business Park, and Tampines Regional Hub, as well as new universities and international schools re-locating to this side of Singapore, the perception will likely change with time.
At any rate, for the Ryse condo itself, it has the immense advantage of being located right beside Pasir Ris MRT station. So whatever else it may be like for the rest of Pasir Ris or Changi, residents here taking public transport will certainly not have to suffer long travelling times.
For instance, from Raffles Place station, it is a direct MRT line, the East-West line, and takes 36 minutes.
For those who prefer working near where they live, there are quite a number of employment hubs in the vicinity. Besides the business parks nearby, there is Changi Airport as well, which is already a major employment centre.
Perhaps the greatest attraction of Pasir Ris is its laid-back ambience, and beach front lifestyle. There are several resorts and leisure destinations here. Even the very air itself seems conducive to relaxation.
Register interest or request details here.
|Name||THE RYSE RESIDENCES|
|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|
The Ryse Residences Floor Plan
The Ryse floor plans are not available yet. Please drop us a line via the Contact Form if you would like us to send you the Ryse Residence floor plans once ready.
The Ryse Residences Site Plan
The Ryse Residences site is quite big, covering more then 400,000 square feet, with possible gross floor area of about 1 million square feet.
It occupies the land parcel to the west of White Sands mall and Pasir Ris MRT Station. Its other sides are bounded by Pasir Ris Drive 3, Pasir Ris Drive 8, and Pasir Ris Central.
Those units facing eastwards, overlooking the above-ground MRT tracks, will in all probability get some train noise. But they will likely also get unblocked views too, as there is not much obstruction in that direction for a distance.
Across the Pasir Ris Drive 3 road, there is Pasir Ris Park that spans all the way to Pasir Ris beach. Hence the area to the north of the site is relatively unblocked currently. Higher floor units at Ryse Residences could therefore offer unblocked views, perhaps as far as to Pulau Ubin, and even to Johor in the distance.
Do note though, that part of the park, the section directly next to Pasir Ris Drive 3, is zoned residential as well. While there are no plans to develop it in the immediate future, it could happen further down the road. That may not be for another 10 or 15 years however, and meanwhile, the views and greenery are there for enjoyment.
The Ryse Showflat Viewing
The Ryse Residences showflat is not ready yet. Please drop us a line via the Contact Form if you would like us to keep you posted on this, or to register you for a viewing.
Note that with the current safe distancing rules in place, that has placed a cap on the number of visitors allowed in any one time, all viewing appointments have to be booked in advance.
The Ryse Residences 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 RYSE CONDO PRICE RANGES
The Ryse Residences pricing has not been decided yet. Please let us know via the Contact Form if you wish us to keep you posted on the price list once available.
Phoenix Residential will provide exact prices only on the Preview sales day, but indicative prices will likely be released before that.
THE RYSE RESIDENCES PRICE BACKGROUND
The winning bid by the collaboration of Phoenix Commercial Pte Ltd and Phoenix Residential Pte Ltd for the site came up to almost S$700 million. Given the total possible gross floor area (GFA) of 1.02 million sq ft, this equates to a land rate of S$684.48 PSF PPR (per square foot per plot ratio).
On that basis, break even costs could be in the range of S$1,250 PSF, after adding development costs including financing and marketing, as well as construction costs.
With such a relatively low break even point, the Allgreen-Kerry partnership could actually afford to sell the homes here for something like $1,500 PSF, and still turn a very decent profit.
However, given that the CDL-Capitaland partnership is selling Sengkang Grand Residences in the mixed development at Sengkang at close to $1,6xx to $1,7xx PSF, Allgreen is hardly likely to go lower than that.
Especially when one considers that there has not been any major new launches in the estate over the last few years. And certainly not one in such a central and convenient location, in this part of Singapore, for quite some time.
About the Developer
The Ryse Singapore is being developed by a partnership of Kerry Properties, with its sister company Allgreen Properties. Both come under the umbrella of the Kuok Group.
Allgreen Properties Limited (“Allgreen Properties”) has been involved in property development from the 1980s and is today one of the largest property groups in Singapore.
Kerry Properties is the property development arm of the Kuok Group of companies in Hong Kong. Subsidiaries of Kerry Properties have been involved in property investment and development activities in Hong Kong since 1978.
About Allgreen Properties Limited (“Allgreen” or “The Group”)
Allgreen Properties is the local real estate arm of the Kuok Group.
Incorporated in 1986, Allgreen was listed on the Singapore Stock Exchange in May 1999 and was then majority owned by the Kuok group.
It was delisted in August 2011 from the Singapore Stock Exchange following its compulsory acquisition by Brookvale Investments Pte Ltd (which is itself part of the Kuok group of companies).
It has 35 subsidiaries and 13 associated companies. Although Allgreen began operations in 1986, the history and track record of Allgreen’s property-related businesses can be traced back to a time when it started as a division of Kuok (Singapore) Limited in early 1980.
Today, Allgreen is one of the largest property groups in Singapore, well-known for its quality products and track record of steady take up rate of its projects. Locally, is runs a diversified portfolio of properties comprising office and retail space, residential & serviced apartments, and a hotel.
The Group’s portfolio of development work consists of a mix of condominiums, and terrace and semi-detached houses.
As one of the largest property groups in Singapore, Allgreen Properties has a balanced portfolio of residential and commercial properties which caters to a wide spectrum of homebuyers’ needs and price ranges.
Amongst the completed ones are projects like Suites at Orchard, Yong An Park, Holland Residences, SkySuites @ Anson, Regency Park, Cairnhill Residences, One Devonshire, Binjai Crest, Dairy Farm Estate, RV Residences, The Sorrento, Springbrook Terrace, Amber Point, and Tai Hwan Park.
Allgreen has also entered into various joint ventures to participate in the development of mixed projects in Tianjin, Shanghai, Chengdu, Shenyang, Qinhuangdao, and Tangshan in the People’s Republic of China.
About Kerry Properties Limited (“Kerry Properties” or “The Group”)
Kerry Properties Limited (“Kerry Properties”), was incorporated in Bermuda with limited liability, and listed on The Stock Exchange of Hong Kong Limited in 1996.
It is committed to developing and managing premium residential properties and commercial complexes in prime strategic locations.
The Group makes ongoing efforts to improve – such as by adding innovative services – its existing extensive real estate network in the Asia-Pacific region.
The Group is well-positioned to keep pace with the upward market trends in Mainland China and Hong Kong. With a wealth of experience in real estate, the Group looks forward to expanding its property portfolio overseas.
The Ryse Location Features
Location. The Ryse 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 Ryse Residences 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 the Ryse Residence 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 Ryse Residences 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 Ryse Residences 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.