Est. Unit Types:
Developer CDL & TID
Tenure 99 years District 19
No. of Blocks 13 Blocks
No. of Storeys 9 – 18 Storey
No. of Units 820
Site Area 27,056.40 m2
Project Name: PIERMONT GRAND 星水嘉园
Address Sumang Walk
Est. TOP Date – 28 February 2023
City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 100 locations in 28 countries. With a proven track record of over 55 years in real estate development, investment and management, CDL has developed over 40,000 homes and owns over 18 million square feet of lettable floor area globally.
TID Pte Ltd (TID) is a joint venture between Hong Leong Group and Mitsui Fudosan, Japan’s largest private developer. With a 35-year history in Singapore, TID draws upon a wealth of experience and expertise, mostly notably for its impressive portfolio of development in Singapore, such as The St. Regis Singapore Hotel & Residences, The Oeanfront @ Sentosa, and the Optima @ Tanah Merah.
Land Cost – 583 psf
Construction Cost ~ 400 psf
Profit Margin & Other Expenses ~ 150 psf
Estimated Average Launch Price ~ 1150 psf
Given that the EC market has not seen any action since April 2018 (from the launch of Rivercove Residences) last year, we believe that the lack of supply has resulted in a build up in demand from the middle class population. The Punggol district remains attractive with many new upcoming initiatives planned to convert the district into an IT cluster. Although the pricing is likely to be set slightly higher than the launch price of the ECs of the previous year, we believe that the CDL and TID brand name, along with the many facilities (both within the EC and the punggol area) will aid in generating a healthy interest in this development.
Key risk would be for families that might adopt a wait-and-see attitude for the other upcoming ECs in the next couple of years. Families who are keen on the Punggol district or whose family combined income is nearing the S$14,000 p.m. mark, can consider this development, as we believe that the upcoming ECs would be priced similarly or at a slight premium above Piermont Grand due to the higher land cost for the other parcels acquired.
At SG First Home, we respect the importance of customer privacy, if you would like to request for a follow-up and the latest updates (including the floor plans and our assessment on the potential of Piermont Grand as well as the choice units within the development), please leave us your contact details and we promise to get back to you within 2 working day.