|Project Name||Rivercove Residences|
|Developer||Hoi Hup Realty and Sunway Developments|
|Development Type||Executive Condominium|
|Site Area||Approximately 226,199 sqft|
|No. of Units||Estimated 635 Units TBC|
Locality – an estate of ECs with a neighboring future development
The estate of Sengkang (D19) has seen a number of EC developments over the past few years, especially around the Anchorvale area. These include Bellewaters, The Vales and Treasure Crest, with an average price (psf) ranging from $808.20 to $859.40 (figures are based on past 1 years transaction from 99.co). These ECs have boasted smooth and impressive sales upon its launch, and many are expecting Rivercove Residences to be no exception. This is also backed up by the trend of a growing demand for ECs – about 3,999 EC units were sold in 2016, 2550 in 2015, and the figure hovers at 4,000 in 2017, according to sources from various established news websites.
ECs continue to be the premium alternative for the ‘sandwiched class’ as the price gap between HDB resale and mass market private condominiums continue to widen. Given that Rivercove is the only EC launched this year, its uptake upon launching is forecasted to be highly positive.
With URA’s master plan of developing Sengkang’s neighboring area into a Punggol Creative Cluster and Learning Corridor, District 19 is expected to see more life and activities being generated from the potential future offices and institutions that will be set up there. This also means that residents living in this district may expect more amenities, facilities and potentially new roads and infrastructure being created in order to support URA’s master plan. (The map below shows the land parcel detailing future road work(s) and construction.
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