Sustained Land Preview Sen Upper Bukit Timah Prices 2199 Psf

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When it comes to investing in property in Singapore, it is crucial for international investors to familiarize themselves with the rules and limitations surrounding ownership. Unlike landed properties, which have stricter regulations, foreigners are typically able to purchase condos with relatively few restrictions. However, it is important to note that foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their first property purchase. Although this may seem like an additional expense, many are still drawn to the stability and growth potential of the Singapore real estate market, making it a popular choice for foreign investment. If you’re considering investing in Singapore property, be sure to check out condos as a potential option.

The government’s recently closed tender for the De Souza Avenue site received only two bids, with the top bid coming from Singapore-based developer Sustained Land, led by real estate mogul Douglas Ong, in a joint venture with Ho Lee Group and Greatview Development. The partners paid $278.9 million, or $841 per square foot per plot ratio (ppr), for the 99-year leasehold site located in the Upper Bukit Timah area (District 21). According to Vincent Chew, director of Sustained Land, the site offers a unique opportunity to create a landmark development that combines nature and connectivity. The new project, called The Sen, is situated next to Bukit Batok Nature Park and near Bukit Timah Nature Reserve, with other parks and green spaces in close proximity. The area’s focus on health and wellness, as well as the desire to live near greenery, make it an attractive location for buyers. Additionally, the project boasts excellent connectivity with the nearby Beauty World MRT Station and several shopping malls. The Sen comprises 347 units across five 10-storey blocks, with three blocks housing one- to three-bedroom units and two blocks featuring larger three-bedroom-plus-study and four-bedroom-plus-study layouts. Prices start from $993,900 for a one-bedder and go up to $2,899 million for a prestige unit. The project is targeted for preview on Oct 31, with the official launch on Nov 15. The design of The Sen, which was done by AGA Architects with landscaping by Ecoplan Asia, is inspired by a wellness-centric, tropical resort, with earth tones used for the façade to complement the surrounding greenery. The development features a landscaped deck with a 50m lap pool, family and children’s pools, a clubhouse, lounges, and a tennis court. The rooftops of the three classic blocks also boast sky gardens. The units are designed to be north-south facing and include ceiling fans in the living room. The Classic units come fitted with Smeg kitchen appliances and Roca bathroom fittings, while the Prestige units feature Miele kitchen appliances and Laufen bathroom fittings. All homes are fitted with solar panels on the rooftops to generate electricity for the common areas, earning the project BCA Green Mark Platinum (Super Low Energy Building) certification. As part of the GLS conditions, the development will also include an on-site childcare centre. Sustained Land’s Chew expects The Sen to attract HDB upgraders and empty nesters from nearby landed housing estates, as well as young families drawn by the proximity to good schools and greenery. The area has proven to be a desirable location, with nearby HDB estates seeing 60% of their resale flats being sold for above $1 million this year. The neighbouring Verdale was fully sold in two years, despite launching during the pandemic. Other nearby launches, such as Forett @ Bukit Timah and Daintree Residence, have also performed well. Sustained Land has remained active in the past decade, acquiring and developing freehold en bloc sites, including 3 Cuscaden, One Meyer, Coastline Residences, and Sky Everton. The developer also recently purchased three adjoining bungalows in prime District 11, which will be redeveloped into luxury landed houses. With The Sen, Huttons’ Yip estimates the developer will be able to price the project more competitively compared to other recent launches and completed developments in the Bukit Timah area. PropNex’s Fong predicts that the average selling price will hover around $2,400 psf, based on starting prices from $2,199 psf. He adds that the Bukit Timah area remains desirable due to its blend of nature, popular schools, and a sense of exclusivity.