SingHaiyi launching two freehold condo projects in Bartley

The show-flats of two condominium projects in Bartley by SingHaiyi Group will open for viewing on Thursday.

The property developer announced this yesterday at a media preview at 16 Tai Seng Street, where potential buyers can view the show-flats.

The Gazania in How Sun Drive will have 250 units across seven five-storey blocks, while The Lilium in How Sun Road will have 80 units in two five-storey blocks.

The two developments will be launched together in about two weeks and are due to be completed in the second half of 2022.

Units at The Gazania are likely to be priced from about $1 million for a one-bedroom unit of about 440 sq ft, and from about $3.3 million for a 1,800 sq ft four-bedroom penthouse.

The Lilium will have two-to four-bedroom units that are expected to cost about 5 per cent to 10 per cent less per sq ft.

Mrs Celine Tang, SingHaiyi’s group managing director, said in a press statement: “We are confident that the twin freehold developments will attract strong interest from both home owners and investors alike, given their attractive pricing and luxury features.”

She also pointed out their strategic location in “one of the most coveted neighbourhoods at the city fringe”.

The condos are a three-to five-minute walk from Bartley MRT station on the Circle Line, and a few minutes’ drive from major expressways such as the Kallang-Paya Lebar Expressway.

They are located near the upcoming 10ha Bidadari Park as well as shopping mall Nex in Serangoon.

SingHaiyi deputy chief executive officer Gregory Sim said at the preview that the two projects are likely to be the first freehold developments to be launched in District 19 in the past five years.

“Singapore is so small, with scarce land, (so) to own a freehold residential (home) is really quite rare nowadays. Plus, it’s so near to the MRT station,” he added.

Mr Sim said these attributes had been considered in the pricing process, noting that some former residents of the collective sale sites as well as landed home owners in the area have already expressed interest in the projects.

The marketing agents for the properties will be PropNex, Savills and Huttons.

Mr Sim said it is likely that half of the units will be launched first.

SingHaiyi Group acquired the land parcels via collective sales in late 2017. The Gazania site was bought for $271 million, and The Lilium site was acquired for $81.1 million.

This version of article writing by Derek Wong and first appeared at The Straits Times, Business.

Photo: SINGHAIYI Group