Construction of the largest shopping mall in northern Singapore is expected to start in April 2015. Frasers Centrepoint has awarded the main contract for building this landmark project to Lum Chang Building Contractors.
To be called Northpoint City, it is slated for completion in 2018, a press release issued by Frasers Centrepoint said on Tuesday. It will serve the many HDB precincts and private residences in the vicinity like Canberra Residences & 8 Courtyards, and the new executive condominium developments like The Brownstone and Signature at Yishun.
::
This 1.33 million sq ft mall is an ambitious project that will amalgamate social & transport facilities with commercial & residential components.
A 920-unit condominium, North Park Residences, will sit atop the development, while North Point City itself will house over 500 retail units, with a first-of-its-kind Community Club housed inside a shopping mall.
A transport hub with an air-conditioned bus interchange, and a shopping underpass linked to the Yishun MRT station, will be part of the project as well.
::
NorthPoint City Contract Awarded :: Will serve Canberra Residences & Signature EC
Other highlights include a “Town Plaza” the size of 10 basketball courts, and a rooftop community garden, that have been earmarked for public activities as part of a broader plan to foster “the spirit of community”.
Minister for Law and Foreign Affairs K Shanmugam, and an MP for Nee Soon GRC – which includes Yishun – said: “The partnership between the agencies and FCL will create a new Nee Soon. The changes will be exciting.”
Residents and businesses can look forward to a greener landscape. This includes the Lower Seletar Reservoir Park, that is opposite the Signature EC at Yishun.
::
DEVELOPER CONDO LAUNCHES
Arena Residences is another new launch, like Canberra Residences. However it is located in a much more central location, near Kallang Basin and the Singapore Sports Hub, and on the fringe of the CBD (Central Business District). In fact, from the higher floor levels, especially the sky terrace at the top floor, you can see views of the Singapore Flyer and Marina Bay.
Also, unlike Canberra Residences that is 99 year leasehold, Arena Residences is on freehold land, which theoretically means you own the property to perpetuity, what is known as Estate in Fee Simple. Incidentally, a further difference between Canberra Residences and Arena Residences, is that the former is low-rise, while the latter is 14 storeys high, as the plot ratio is higher.
We would stronger recommend Arena Residences as a good investment opportunity. The pricing looks attractive for its location and tenure, as it is expected to hover around the $1,750 PSF range. Given that it is so close to the city and freehold, this neighbourhood has tonnes of potential to appreciate in value.
The Arena Residences showflat is located at Kallang Leisure Drome. It only shows a 3 bedroom show unit, though the project offers 2 bedroom and 3 bedroom dual key units as well. We think these units are good value, as they are space efficient, without huge balconies. If you are interested to view Arena Residences showflat, just sign up as viewings are likely to start from the weekend of 27 October 2018. Floor plans are now available as well.
