Originally published at: Copen Grand EC – Buy Sell Rent Singapore Properties | joioy.com
- Future Launch
COPEN GRAND EC
New Tengah EC . 5 Mins Walk to Tengah MRT Station
REGISTER FOR VIEWING / E-APPLICATION . By CDL & MCL
REGISTER FOR VIEWING / E-APPLICATION . By CDL & MCL
The Copen Grand EC is a new executive condominium in the north-west of Singapore launching for sale in 2022. It will be the very first EC development in Tengah Estate, the much anticipated upcoming new “forest town”.
Tengah Forest Town Location for Copen Grand Executive Condo
It will also be the only executive condo within 5 minutes walk of an MRT station in recent years. In fact, within walking distance of not just one, but three stations on the Jurong Region Line.
Copen Grand EC . Jurong Region Line to Tengah Estate
In addition, it is less than 10 minutes walk from Tengah town centre. Very rarely is such a plum site given to an EC these days.
The Copen Grand executive condo is being built by a collaboration of two established local developers, CDL and MCL Land. Both have a well-earned reputation for quality work, and a large number of developments under their belt. CDL is also no stranger to executive condos, having executed several of them, with the latest being Piermont Grand that sold out recently.
Town Centre at Tengah Park District near Copen Grand EC
This unique combination of factors – location in an exciting new “green” estate, short walk from MRT stations and town centre, brand-name developer – makes this Tengah EC likely the most promising, and most sought after, of the recent executive condos.
Copen Grand Executive Condo . Project Highlights
This Tengah EC is being developed by Taurus Properties SG, the wholly-owned unit of a joint venture of City Developments Limited and MCL Land. It will comprise 628 apartments, housed in 12 blocks of 14-storey high residential towers, set amidst generous landscaping.
There will be a good mix of unit types, to cater to young couples and families with kids, as well as multi-generational families. And it will feature plenty of family-oriented communal facilities too.
Copen Grand EC Location Plan . Close to 3 MRT Stations & Town Centre . Source URA
- Located within a short walk of three MRT stations on the Jurong Region Line. Of the three, Tengah station is the nearest, about 400m or 5 minutes walk away. But Tengah Plantation station is pretty close too, at about 6 minutes walk.
- This also positions CopenGrand EC within very close proximity to Tengah’s future “car-free” town centre, roughly 5 to 8 minutes walk away too.
- Other future developments in the vicinity will include a polyclinic, community club, sports centre, and a bus interchange.
- Besides that, 12 parcels of land have been zoned for educational institutions in Tengah. All of them are within 2 KM of this Tengah EC site.
- URA’s master plan and vision to develop Tengah into a sustainable and “smart” town makes this EC an exciting one.
Tengah EC Central Park and Lake
As CDL’s group chief executive Sherman Kwek put it, “Currently, the demand for ECs remains extremely strong and this augurs well for the development. We are honoured by the opportunity to develop the first EC in this locale and to transform this expansive site into an attractive and high quality project that future homeowners would be proud of.”
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Sales Expectations for this Tengah Garden Walk EC
Going by recent EC launches the demand for executive condominiums is still healthy. This is especially so for those that are within walking distance of an MRT station, like for Provence Residence and Parc Canberra.
Even those not near an MRT station have done fairly well. Such as Parc Greenwich at Yio Chu Kang, and Parc Central in Tampines, that have sold out, or are close to doing so.
So interest in the CopenGrand EC is likely to be very high. Quite apart from its close proximity to the town centre and MRT stations, it will be the first EC launch in Tengah. For that matter, it will be the first EC launch in six years in west Singapore. So there is the element of pent-up demand too.
Even island-wide, there are not an awful lot of EC units available either. Most of the previous launches have sold out. The only one with an appreciable number of units left now is North Gaia in Yishun. And the upcoming Tampines EC that will be launching in late 2022, that will appeal more to east-siders.
The Investment Perspective
If you are considering this Tengah EC from an investment viewpoint, here are some points worth noting.
ECs are built by the same developers as for private condos. But they are typically sold at 15% to 20% less than for comparable new private developments.
In addition, first timers may be eligible for a CPF housing grant of up to SGD$30K to offset against the cost of their unit.
And buyers with outstanding mortgages may still be able to get the maximum 75% housing loan, subject to income eligibility. Those with a current home already need not pay the ABSD either.
However computations for loans are based on a 30% MSR (Mortgage Servicing Ratio). This is just slightly over half the TDSR (Total Debt Servicing Ratio) used for private home loans.
As such it is good for financial prudence. But it does make it hard for many buyers to get the maximum loan, especially for big units. (The irony here is that, for private property, one could get almost twice as much loan on the same income.)
However this loan restriction does not apply to resale executive condos. Resale ECs, just like any private condo, enjoy the higher TDSR limit of 55%. This means that if you sell your executive condo after the MOP (Minimum Occupation Period), your buyers are eligible for a higher loan vs income. There is also no income cap on them, and so they can afford to pay a higher quantum.
Interestingly though, for previous EC launches, the MSR did not seem to have hampered sales much. Even big units with quantums that should have bust the loan ceiling under the MSR, have sold briskly. Perhaps to second-timers flush with cash from selling their first homes. Or those with funding from their families.
The main pull appears to be the fact that such big units would have cost a great deal more if it were a private condo. Which it will be, in five year’s time.
Despite its lower PSF pricing, the CopenGrand EC will be similar to private condos in terms of its fittings and finishes. And it will come with as complete a range of facilities.
However ECs usually don’t offer one bedroom units, and seldom even two bedders. They are designed & targeted for families, as they must be owner-occupied in the first five years.
As such, their layouts tend to be more family-friendly with bigger kitchens, and more spacious living areas and bedrooms. These should appeal to buyers looking for more space, whether as first time owners, or in the resale market in future.
Given their lower PSF entry prices, ECs have historically enjoyed a higher ROI (Return on Investment). This is because resale EC prices, over time, move closer to those of its private counterparts.
There would usually be one price jump just past the MOP, when you can sell to Singapore citizens and PRs. Another jump is typically after the 10th year, when you can sell without restriction, including to foreign buyers.
It is hardly surprising then, that executive condos, bought new, have achieved among the highest capital gains out of all the property asset classes.
Moreover should you choose to hold on to it, and buy a 2nd property, you can do so without needing to pay the ABSD. Unlike for HDB flat owners, you can “de-couple” your EC holding to buy another property after the MOP, without incurring the ABSD.
The 15 to 20% lower price you pay for an executive condo, can also act as a built-in buffer against any potential price drop. This makes ECs among the safest investment bets.
|Developer||Taurus Properties SG Pte Ltd
(JV of City Developments Ltd & MCL Land)
(Main applicant must be Singapore citizen)
|Address||Tengah Garden Walk, Singapore|
|Site Area||22,020.8 m² (237,032 sq ft)|
|Total GFA||61,658.24 m² (663,689 sq ft)|
|Tenure||99 Year Leasehold|
|No. of Blocks||12|
|No. of Storeys||14|
|No. of Units||628|
|Architect||ADDP Architects LLP|
Copen Grand EC Showflat · Viewing
Booking of viewing slots for the Copen Grand showflat will be by advance appointment.
Please drop us a note in the Contact Form below if you wish to register for a viewing, or be kept updated, or to clarify requirements for an e-application, or understand the booking process.
E-Application & Booking of Units
Buyers need to submit an e-application in advance, if they wish to take part in the balloting and booking of units. This e-Application is only valid when done at the systems at the Copen Grand EC showflat, not online.
Only those who qualify will be allowed to book a unit. To check eligibility, and what the possible payment structures and grants are, please refer to the following guides. (Opens in new window.)
- Executive Condominium Buying Guide
- Executive Condominium Eligibility Rules
- Payment Structure for Executive Condominiums
Piccadilly Grand by CDL & MCL . Developer for Copen Grand EC Showflat
Copen Grand Floor Plans
The CopenGrand EC floor plans are not ready yet. Please let us know via the Contact Form if you would like us to email or whatsapp you the floor plans when available.
Piccadilly Grand by CDL & MCL . Developer for Copen Grand Floor Plans
Copen Grand Site Plan
Copen Grand Site Location Plan . Source URA
The site is a triangular shaped land parcel spanning 237,032 square feet of ground. It sits in the Garden District of Tengah, one of its five districts, in between the Plantation and Park districts.
Copen Grand is bounded by Tengah Drive on its north border, and Tengah Garden Walk on its south-east boundary. The third side, on its south-west, is flanked by a park corridor above which runs the MRT track.
So there will be quite a distance between the residential blocks here, and neighbouring blocks, as none of them are on immediately adjoining land.
The main vehicular entrance to the site will be via Tengah Garden Walk.
Copen Grand Prices · Unit Types
UNIT TYPES . SIZES
|Unit Description||Type||No. of
|Total Number of Units||TBA|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
COPEN GRAND PRICE RANGES
The CopenGrand EC prices are not finalised yet. Please let us know via the Contact Form if you wish to be kept posted on the prices.
COPEN GRAND PRICE BACKGROUND
HDB awarded this first executive condominium (EC) site in Tengah “forest town” to Taurus Properties SG Pte Ltd on 3 June 2021. Taurus Properties is a joint venture of City Developments Ltd and MCL Land.
It had topped the bidding for the site at SGD$400,318,000. The land tender, which was launched in November 2020, was quite competitive, drawing seven bids.
The tender price works out to $603 PSF PPR (per square foot per plot ratio) for the land alone. This is a record land rate for an EC site. It smashes the previous highest rate of $583 PSF for the Piermont Grand EC site in Punggol, that was awarded in March 2018.
(Side note: Since then, the Tampines EC site at Tampines Street 62 fetched an even higher price at $659 PSF. That’s over $50 PSF more, for a less convenient location. Probably due to a rapidly dwindling land bank among developers, as all the other ECs have sold out except for North Gaia in Yishun.)
Perhaps however, this Tengah EC land rate is hardly surprising, given its plum location. Almost certainly a better location than for Piermont Grand. It is likely the closest to an MRT station and town centre, after Esparina’s launch 12 years ago. And we all know how Esparina has trumped the other recent EC’s in value gain.
According to industry sources at the time of the land sale, the possible selling price for Copen Grand could hover around $1,190 to $1,250 PSF. In today’s market however, it could go higher than that, considering the recent increases in construction and financing costs. That could take its breakeven to as high as $1,150 to $1,200 PSF.
About the Developer
The Copen Grand executive condo is being developed by Taurus Properties SG Pte Ltd, the fully-owned subsidiary of a collaboration between City Developments and MCL Land.
Both are among the most highly regarded and established local developers in Singapore. They are currently also in partnership to develop Piccadilly Grand + Piccadilly Galleria, an integrated development at Farrer Park MRT station.
Piccadilly Grand Towers and Piccadilly Galleria
About City Developments Limited (“CDL” or the “Group”)
City Developments probably needs no introduction. It was set up in 1963, and has built a great many of the developments that dot the Singapore skyline, since then. The Group is listed on the SGX, and is one of Singapore’s biggest companies by market capitalisation.
Today CDL is a leading hotel and property player globally, with work that spans 103 locations in 29 countries. Its manages a geographically-diversified portfolio of more than 18 million square feet of lettable space in integrated developments, serviced apartments, homes, offices, hotels, and shopping malls.
Worldwide, the Group runs a network of over 300 subsidiaries and associated companies. Seven of these are listed on the stock exchanges of Hong Kong, London, the Philippines, and New Zealand.
CDL’s core businesses centre on real estate development & investment, facilities management, hospitality solutions, and hotel ownership and management.
Track Record for CDL . Developer for the Copen Grand EC
In the course of its 59 years in property development it has built a remarkable number of homes, over 43,000 of them at last count across different market segments.
Some of these are in projects like Boulevard 88, Nouvel 18, Cliveden at Grange, Gramercy Park, New Futura @ Leonie Hill, St. Regis Residences, The Sail @ Marina Bay, The Oceanfront @ Sentosa Cove, One Shenton, Tribeca, Amber Park, Goldenhill Park, Golden Hill Villas, and Coco Palms.
The Group has also undertaken mixed developments. Such as Sengkang Grand Residences, South Beach Residences at Beach Road, and most recently, Piccadilly Grand.
South Beach Residences by CDL . A Mixed Development
CDL is currently also developing Canninghill Piers, a lovely integrated development, jointly with Capitaland.
Canninghill Piers by CDL . Developer for this Tengah EC
It has a fair amount of executive condo development experience as well, having launched and sold out the Lush Acres, Blossom Residences, The Rainforest, The Criterion, The Brownstone, and the recent Piermont Grand.
For further details on City Developments, see www.cdl.com.sg (opens in new window).
About MCL Land Limited (“MCL Land” or the “Group”)
MCL Land is another very reputable local property player. It has almost as long a track record, having built homes in Singapore and Malaysia for over 50 years too.
In partnership with CDL, their joint track records are reassuring. Buyers of their products, whether new, or on the resale market, would tend to associate them with well-designed quality work.
Some of MCL’s projects include The Fernhill, The Grange, Parvis @ Holland Village, Palms@Sixth Avenue, J Gateway and Lake Grande at Jurong, Peak @ Balmeg, Uber388, Terrasse, and Este Villa. More recent launches are Margaret Ville and Parc Esta, both sold out.
Uber 388 by MCL Land . Joint Developer for this Tengah EC
MCL’s latest launches include the recently launched Piccadilly Grand (in collaboration with CDL), and the freehold Leedon Green at the corner of Holland Road and Farrer Road. Leedon Green was 54% sold as at January 2022.
For more details on MCL Land, see https://www.mclland.com.sg
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