This Executive Condominium site in Sumang Walk in Punggol fetched a whopping 17 bids at a state tender and The top bid of S$509.37 million works out to a record to S$583 per square foot per plot ratio (psf ppr). It came from a joint venture between City Developments’ fully owned subsidiary CDL Constellation and TID Residential.
This New Sumang Walk Executive Condominium is walking distance to Sumang & Nibong LRT Station which connect to Punggol MRT Station, serving the Punggol Bus Interchange and MRT North-East Line.
The Waterway Point is a short distance walk from this new development. Waterway Point is a four-storey retail and lifestyle hub located in the heart of Punggol, beside Punggol MRT/LRT station. It is the retail component of Watertown which offer a diverse range of retail, dining, entertainment and education offerings. Waterway Point will be the flagship waterfront leisure destination for Punggol’s residents and visitors from across the island. Nearby Punggol Plaza and Seletar Mall, Compass One also provide comprehensive shopping, dining and entertainment options.
It is also well-connected to other parts of Singapore via major arterial roads, Kallang-Paya Lebar Expressway (KPE) and Tampines Expressway (TPE), making the Central Business District and Orchard Road just a 25-minute drive away.
More than 10 primary schools are located within a 2-kilometre radius of the site, including the popular Mee Toh School and Horizon Primary School. Punggol Town will also be home to the Singapore Institute of Technology’s (SIT) new campus. SIT’s co-location with JTC’s business parks will facilitate the cross exchange of knowledge and collaboration among students, faculty and industry professionals.
Moreover, the Urban Redevelopment Authority has recently announced that Punggol will be Singapore’s first Digital District, integrating business and education, and driven by technology, social and urban innovation. This district will include sectors of the digital economy such as cyber security, artificial intelligence and Internet of Things (IoT) which will drive Singapore’s Smart Nation initiative.
Developer – City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 100 locations in 28 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.TID Residential Pte. Ltd. develops and sells residential homes. The company was incorporated in 2010 and is based in Singapore. TID Residential Pte. Ltd. operates as a subsidiary of Hong Leong Holdings Limited.
With the High demand but limited supply of executive condominium units, this Sumang Walk Executive condominium will be certainly another sell-out project.