MCC Land launches The Poiz Residences

/ The Edge Property
December 16, 2015 10:00 AM SGT
The project will be the first mixed-use development linked to the Potong Pasir MRT station for the Singapore-based Chinese developer.
Having lived in Singapore for 19 years, MCC Land managing director Tan Zhiyong knows the heartlands better than most true-blue Singaporeans. After all, the property developer’s office is located in Bukit Batok, and it has developed a handful of residential projects in Yishun in the north and Tampines in the east, as well as participated in joint-venture projects in Pasir Ris, Sembawang and Woodlands.
The mainland Chinese-turned-Singapore permanent resident makes it a point to visit every site offered for sale under the Government Land Sales programme. When the government launched a site at Upper Serangoon Road/Meyappa Chettiar Road for sale last year, Tan realised its potential when he visited it. “In the past, as someone new to Singapore, my perception was that Potong Pasir was very far away,” says the 46-year-old in Mandarin.
What he found was a site located within a low-density neighbourhood on the city fringe, conveniently linked to the Potong Pasir MRT station. “I told myself I must win the site,” recalls Tan. And MCC Land did just that in August last year when it trounced 14 other bidders to win the 99-year leasehold, 173,830 sq ft site with the highest offer of $471.6 million or $775 psf per plot ratio (psf ppr).
On Nov 14 and 15, MCC Land previewed the new project in Potong Pasir, and more than 1,000 people visited the sales gallery and show flats. Called The Poiz Residences, it contains 731 units in 18-storey blocks sitting on top of a 50,000 sq ft retail-cum-lifestyle complex named The Poiz Centre. The project will be linked directly to the adjacent Potong Pasir MRT station. The retail complex will contain 84 strata- titled shops.
The Poiz Residences will sit on top of The Poiz Centre, a three-storey retail mall that is connected
to the Potong Pasir MRT station
Holding on to shops Instead of selling off the strata retail units, Tan has decided to hold on to them as he wants to position the mall...