UOL to preview Watergardens at Canberra on July 17; prices start from $1,380 psf

SINGAPORE (EDGEPROP) - Property developer UOL Group will preview its latest residential project, Watergardens at Canberra, on July 17. The 448-unit condominium is the first private residential development in the budding Canberra area. (See also: UOL to launch Canberra Drive project in 2Q, redevelop Faber House and enhance Odeon Towers)

Watergardens at Canberra is a joint-venture (JV) project between UOL, Singapore Land and Kheng Leong Co. The JV was awarded the Government Land Sale site in March last year after submitting the top bid of $270.2 million ($650 psf per plot ratio).

The site is close to Canberra MRT Station on the North-South Line. It is in proximity to a landed housing estate and newly completed HDB flats. The design of Watergardens at Canberra is inspired by nature, given its proximity to park connectors and green spaces. Water features circle the condo. (See: Discover insightful data of any Singapore condominium with our condo directory)

The new development consists of 16 five-storey blocks. The developer is offering a mix of two- to four-bedroom unit types, with larger-sized premium options available for two- and three-bedroom units.

Larger-sized units are being offered as the expected demand for new private residential developments in the area will likely to come from upgraders of the nearby HDB estates, as well as couples and multi-generational families. (See: Find HDB flats for rent or sale with our Singapore HDB directory)

According to the developer, prices will start from about $1,382 psf. Four-bedroom premium units will be 1,302 sq ft to 1,528 sq ft, and will be priced from $1.8 million. Typical three-bedroom units from 904 sq ft to 1,163 sq ft will be available, and the prices will start from below $1.3 million. Meanwhile, two-bedroom units will be 646 sq ft to 678 sq ft, and prices will start from below $920,000.

“We believe The Watergardens at Canberra will be the most affordable new launch in 2021 that is at the doorstep of an MRT station,” says Jesline Goh, UOL chief investment and asset officer. (See: Browse newly launched condos in Singapore right now)

She expects robust demand for the new project, because it will be the first private development to be launched in the area following the opening of Canberra MRT Station in November 2019.

Goh adds that Canberra is a region with strong growth potential and the new project is likely to attract home buyers and investors. Watergardens at Canberra is expected to be completed in 2Q2026.