North Gaia EC, not to be missed out
The tender for the executive condominium (EC) site at Yishun Ave 9 was granted to Sing Holdings , after it submitted the top quote of $373.5 million, claimed the Real estate as well as Development Board (HDB) on Friday 20 Nov. Released available for sale on 30 Apr, the 99-year leasehold parcel has an area of 21,514.0 sqm and an optimum gross floor area of 60,240 sqm. It can produce approximately six hundred housing units. The tender for the site closed on 29 October, with seven quotes obtained.
North Gaia, District 27, is a domestic place for the routine city slicker. Situated along Yishun Ave 9, the new North Gaia EC at Yishun is a suburban oasis for the normal city slicker. The locals will take pleasure in the distance to rich greenery at Sungei Khatib, which supplies residents a panorama as well as is a precise plus point for nature enthusiasts. It is close to Sungei Khatib with its lush plant that will certainly attract nature fans looking for a scenic view. The new exec condominium has an unblocked sight of the water and also the nature park.
This parcel is an Exec Condominium (EC) parcel, situated at the intersection of Yishun Avenue 8 as well as 9, beside the Harmony Suites apartment. In Addition To 9 Houses, situated around 600 metres away, the various other residential properties below are HDB flats. Like several various other EC sites, it’s quite much from the MRT station– roughly 1.6 km. However, it is within 700 metres (nine minutes’ walk) of the Junction 9 shopping mall. This is the first EC launch in Yishun in year 2015, the last being The Signature and The Criterion.
Source: North Gaia north-gaia.com
The site is surrounded by many amenities to make it a wonderful place to stay. A short drive to Northpoint City, the latest mega integrated mixed development and transportation hub in Northern Singapore, a favourite haunt for the nearby residents. It offers various retail outlets, food and beverage, food courts, additional choices for grocery shopping, clud & library. Future residents of North Gaia EC will enjoy the convenience of amenities with cinemas, restaurants, supermarket, and eateries.
ECs are often said to “make money” right after the 5 year Minimum Occupation Period (MOP). Some believe prospective buyers are easy to find for resale ECs– only the first batch of buyers are faced with the MOP, and the theory is that any buyers would be purchasing closer to the date of full privatisation.
The Yishun site is quite large, and it’s expected that it will build roughly six hundred units. It’s also expected to have a good view of the Khatib Bongsu nature park, once NParks completes it.
The Seletar Aerospace Park – offering purpose-built land and infrastructure for the aerospace industry – acts as an important role to supporting the country’s vision to become a global aviation hub. These growth areas are key employment nodes which can potentially provide a healthy tenant pool for future residents who wish to lease North Gaia EC units out – after fulfilling the required minimum occupation period.
The name Yishun is a Mandarin romanisation of Lim Nee Soon, a prominent industrialist who made his fortune from the rubber and pineapple plantations he found in this place. Yishun planning area is divided into several zones covering Khatib, Lower Seletar, Nee Soon, North Land, Springleaf, Yishun Central, Yishun East, Yishun South and Yishun West. Springleaf and Nee Soon subzones are private housing estates in Yishun.