An artist's impression of Faber Residence at Faber Walk with riverfront views. (Photo: GuocoLand)
GuocoLand will preview the 399-unit Faber Residence on Oct 3. Prices at the low-rise residential development at Faber Walk will start from $1,995 psf.
Jointly developed by GuocoLand, Hong Leong Holdings, and TID, Faber Residence sits on a 277, 663 sq ft site in District 5. The development consists of nine 5-storey residential blocks with a mix of two- to five-bedroom units.
Indicative starting prices are:
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There are 199 three-bedroom units which range from 797 to 1,033 sq ft and they make up half of the total units. There are also 80 (20%) two-bedroom units of 646 sq ft, 100 (25%) four-bedroom units of 1,119 sq ft to 1,270 sq ft, as well as 20 (5%) five-bedders of 1,485 sq ft.
The GuocoLand-led joint venture was awarded the site in a government land tender after it submitted the winning bid of $349.858 million ($900 psf per plot ratio) last November.
Cheng Hsing Yao, group CEO of Guocoland, shared during a media briefing on Sept 30 that the developer was drawn to the site’s riverfront location next to Sungei Ulu Pandan and the neighbouring low-rise landed estate on Faber Walk. “Faber Residence is in a rare riverfront and landed enclave in Clementi, close to multiple established educational institutions and job centres, making it attractive to homeowners and investors”.
Some units will enjoy riverfront views, while others will enjoy expansive views of the landscaped courtyards between blocks. The distance between blocks is generously spaced, at least 20m apart, which exceeds the height of the 19m buildings.
“GuocoLand’s design for Faber Residence is sensitive to the neighbouring landed estate, while integrating the surrounding lush environment,” says Mohan Sandrasegeran, head of research and data analytics at SRI. He also points out that previous new projects in Clementi have been high-density developments, such as the 716-unit Whistler Grand on West Coast Vale. “We believe there will be keen interest from buyers who will be drawn to the low-rise landed-inspired offering at Faber Residence,” he adds.
The project is within 1km of Nan Hua Primary School, and nearby schools and educational institutions include Pei Tong Primary School, Clementi Town Secondary School, Singapore Polytechnic, Ngee Ann Polytechnic and National University of Singapore (NUS). Meanwhile, major business hubs in the area are the International Business Park at Jurong Town Hall Road, the one-north precinct, and the upcoming Jurong Lake District (JLD).
Read also: GuocoLand’s River Modern pulls over 7,000 visitors since sales gallery opened on Feb 20
Faber Residence will be a 10 minute-walk from the future Jurong Town Hall MRT Station on the Jurong Region Line, which is expected to be operational in 2028. Faber Residence is expected to be completed in 2029. The development is also four bus stops away from Clementi MRT Station on the East-West Line, and the station will be an interchange when the future Cross Island Line (CRL) is completed in 2030.
Residents will enjoy direct access to the Ulu Pandan Park Connector, running alongside Sungei Ulu Pandan and within the Clementi Nature Corridor. The Rail Corridor, and future Clementi Nature Trail and Old Jurong Line Nature Trail will also be within reach for residents.
“Prospective buyers may also consider the future prospects of being in that locale, since it is near the Jurong Lake District, which is undergoing transformation, and not far from the one-north precinct,” says Wong Siew Ying, head of research and content at PropNex.
Lee Sze Teck, senior director of data analytics at Huttons Asia adds that the Faber Walk residential estate is characterised by a mix of landed homes and a strong catchment of HDB upgraders in Clementi and other HDB towns in the West. He also points out that the starting price of Faber Residence is attractive compared to some private residential projects in the vicinity.
Close to Faber Residence is the 1,468-unit Parc Clematis at Jalan Lempeng. The 99-year leasehold project launched in August 2019 with prices starting from $1,550 psf and the project was completed in 2023. Based on a compilation of caveats by EdgeProp Singapore, the average price at Parc Clematis is about $2,120 psf.
Based on caveats lodged, the median transacted unit price of private condos in the Outside Central Region (OCR) this year was $2,227 psf, while the median absolute price was $1.86 million. Within the Clementi planning area, the median transacted unit price and absolute price were both higher at $2,541 psf and $1.93 million, respectively, adds PropNex’s Wong.
Eugene Lim, key executive officer at ERA Singapore, notes that the size and layout of units at Faber Residence will appeal to owner-occupiers, such as couples and families with young children, who may have parents living in the nearby landed estate.
Lim expects the positive sentiment in the new launch market will continue for the next two months as buyers turn out in force before the year ends. “Each of the upcoming new projects is in different areas and appeals to different types of buyers,” he says.
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