Oxley banks on Affinity at Serangoon

Despite the heavy rain on Saturday, 4,000 people braved the weather and flocked to the show gallery of Affinity at Serangoon. The turnout on May 26 and 27 marked the first weekend preview of the 1,052-unit residential project by Singapore-listed Oxley Holdings.
“We are extremely encouraged to see the overwhelming response by the public,” says Ching Chiat Kwong, executive chairman and CEO of Oxley Holdings. The developer had initially planned for another week of preview but the public reception led it to shift its launch earlier to June 2.
This move pits Affinity at Serangoon head-on with the launch of The Garden Residences, a joint project by Keppel Land and Wing Tai that comprises 613 homes. Both sites are on Serangoon North Avenue 1 and a 15-minute walk from each other. The two projects will be the first new launches in the heart of Serangoon in eight years.
Competitive pricing
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The living and dining area of the two-bedroom showflat of Affinity at Serangoon (Credit: Albert Chua/The Edge Singapore)
Affinity at Serangoon is a 99-year leasehold project that sits on a 296,913 sq ft plot. The development offers a wide mix of homes, comprising 1,002 one- to four-bedroom units of 463 to 1,711 sq ft, 10 penthouses of 1,550 to 1,701 sq ft and 40 townhouses of 2,056 to 2,347 sq ft. There will also be five retail shops.
Indicative prices for one-bedroom units start at $738,000, two-bedroom units at $988,000, three-bedroom units at $1.3 million, four-bedroom units at $2.15 million and townhouses at $2.38 million. The prices are inclusive of discounts given to potential homeowners on the first day of the project’s official launch.
Affinity at Serangoon will be launched in three phases. “With the land price advantage of the site, we know that there will be strong takeup at the launch,” says Eric Low, executive director and deputy CEO of Oxley Holdings. He is confident that when other projects northeast of Singapore are launched, this “advantage” will persist.
Serangoon Ville, which sat on the site now occupied by Affinity at Serangoon, was one of three sites in the northeast region purchased by Oxley last year. The price was $499 million, or $835 psf per plot ratio.