Sims Urban Oasis well-positioned for growth

By Sims Urban Oasis / BROUGHT TO YOU BY GUOCOLAND | January 19, 2018 3:47 PM SGT
THE recent bullish land bids by developers are boosting sentiment in the residential market. Higher land prices translate into higher sale prices and the price gap represents capital growth upside for the surrounding projects that are priced more competitively, particularly those that are also new developments.
On the Reserve List of the 1H2018 Government Land Sales programme announced by the Ministry of National Development is a 1.7ha site on Sims Drive. According to Tricia Song, head of research for Singapore at Colliers International, the site is attractive and likely to be triggered. “The site is within walking distance of the Aljunied MRT station, which is five stations away from town,” says Song. The parcel is also beside the 1,024-unit Sims Urban Oasis by GuocoLand, which was 94% sold as at December 2017.
Last June, Eunosville, a 330-unit privatised HUDC development, was sold en bloc for $765.78 million. The estimated break-even price for the new project is $1,400 psf and the launch price could be close to $1,600 psf, according to a report by DBS analysts Rachel Tan and Derek Tan. Eunosville is located close to the Eunos MRT station, which is two stops further away from Raffles Place than the Aljunied MRT station.
Sims Urban Oasis, located within walking distance of the Aljunied MRT station, was one of the top five best-selling projects in November 2017. The median price of $1,508 psf for the 35 units sold that month is about 6% lower than the projected launch price for the Eunosville redevelopment project.
Sitting on a 2.4ha site, Sims Urban Oasis offers generously sized units, including larger unit-types that are ideal for growing and multi-generational families. There is also ample space for its facilities, which number more than 50, including two Olympic-length swimming pools, a Sky Park that offers views of the Sports Hub and Marina Bay, shops and a childcare centre.
Sims Urban Oasis has more than 50 facilities, including two Olympic-length pools and a Sky Park that offers views of the Sports Hub and Marina Bay