Until the launching of Riverfront Residences, there’d been no new launching of a private condominium in the Hougang region for at least three decades. Therefore, when Oxley Holdings started the 99-year leasehold job in mid-2018, attention one of HDB upgraders from the area in addition to astute buyers had been piqued.
Riverfront Residences includes a total of 1,472 units, consisting of nine 17-storey cubes of one- to five-bedroom flats, 21 strata-landed homes and six strata stores. The four- and – five-bedroom premium components arrive with private elevator access.
“Many of those improvements in Hougang Ave 7 tend to be over a decade old. Riverfront Residences, with its contemporary design and curtain wall using a full-height glass façade, will revamp the streetscape of Hougang Ave 7, setting a fresh rental of vibrancy and vitality to the region,” says Oxley.
The job was granted Top Development, Design Excellence and Innovation Excellence at the Residential (Uncompleted), Non-Central class. The site was bought en bloc from Oxley and its own three joint-venture spouses — KSH Holdings, SLB Development (recorded property development arm of Lian Beng Group) along with Apricot Capital (investment arm of their Teo household of Super Group). This comprised that the differential premium and rental top-up premium.
Since the Oxley-led consortium had bought the site before property costs ran up, it can cost units at Riverfront Residences competitively. According to URA Realis information, 1,200 units are launched available as of end-September. One of those, 1,134 units are sold. At the month of September, typical psf cost achieved at the job was 1,341 psf. In accordance with Oxley, the majority of buyers are HDB upgraders in the area. It added that the costs of several units begin at greater than $1,100 psf.
Smart house with a perspective
The consortium was attracted to the Riverfront Residences website by its magnificent river views. The job includes views of Sungei Serangoon, a lake at the north-eastern portion of Singapore. The residential systems and strata-landed homes are tilted such that the majority of the units are north-south confronting to reduce solar heat gain and enhance energy conservation,” says Oxley.
Riverfront Residences boasts over 100 condo centers to accommodate to the needs of occupants. Oxley adds:”Fundamentally, we place ourselves in the shoes of our prospective customers, envision their way of life and also make provisions in the evolution to coincide.”
Occupying a website of 396,235 sq feet, Oxley has split the condominium facilities into three chief coves — Resort, Lifestyle and Botanic — to produce a feeling of exclusivity within the evolution. The Resort and Lifestyle coves are all developed for residents to sponsor parties or enjoy family time. By comparison, the Botanic cove is pictured as a idyllic escape with lush greenery and silent co-working and research spaces to optimise productivity.
Beneficiary of forthcoming developments
Along with Sungei Serangoon, the job is near to many neighborhood parks and precinct parks. Residents in Hougang have access to this North-Eastern Riverine Loop (NERL) park connectors. The NERL will gradually become a part of this 150km-long Round Island Route which goes around Singapore.
Meanwhile, more jobs will be generated in the local Defu Industrial Park as declared in the URA Master Plan. The property will also supply a more appealing work environment with features like a cycling system and an conveniences center.
New projects are also created at the forthcoming Lorong Halus Industrial Park near Riverfront Residences. It’s imagined as a new-generation industrial park aimed at clean and light industries like food, logistics and lifestyle.
Together with the completion of the Circle Line, taxpayers will have easy accessibility to Jurong Lake District, Punggol Digital District (PDD) and the Changi area. Residents in Riverfront Residences can anticipate more tasks provided closer to home with all the forthcoming PDD. The district will home key growth industries like cyber security, electronic technology and other technology which will drive Singapore’s Smart Nation drive.
It is going to also comprise Singapore Institute of Technology’s new campus, fostering cooperation between business and academia. The PDD is scheduled to start in 2023, also is a part of this North Coast Innovation Corridor aimed at technology companies.