This week in property: Highlights from Sept 3 to Sept 7

Property highlights of the week from Sept 3 to Sept 7:

Qingjian Realty has unveiled JadeScape, its latest development on Shunfu Road, at an average price of $1,700 psf on Monday.

The leasehold residential project, which will be built on the site of the former Shunfu Ville private HUDC estate, is the largest residential project in Qingjian’s Singapore portfolio so far.

The project fronts Marymount Road on one side and Shunfu Road on the other, and is within a 3-minute walk to Marymount MRT station.

According to Qingjian, JadeScape is Singapore’s first fully-smart private development, at which intelligent estate monitoring will be embedded throughout its 1,206-units.

The tenders for three government land sale (GLS) site tenders closed on Sept 4. This was the first batched closing of GLS sites after the latest round of property cooling measures were announced on July 5.

Two of the sites were from URA’s Government Land Sales Programme, namely the Dairy Farm Road residential site with commercial use on the first storey; the non-landed residential site on Jalan Jurong Kechil; and the executive condo (EC) site at Canberra Link in Sembawang.

Bidding activity was “subdued” as indicated by the number of bidders and their bid prices, notes Desmond Sim, CBRE executive director of research for Singapore and Southeast Asia.

The cautious bidding by developers was most noticeable for the private housing sites, with five bids received for the Dairy Farm Road GLS site and three bids for the Jalan Jurong Kechil site, compared with nine bids for the Canberra Link EC site, says Tay Huey Ying, JLL head of research & consultancy, Singapore. She sees this as indicative of developers’ sentiment that demand for private homes will be more adversely affected than that for ECs.

The eight-unit East Court, a freehold apartment development on Koon Seng Road in district 15, will launch for collective sale on Sept 10. The owners have set a minimum price of $19 million, and this will be East Court's first collective sale attempt, says marketing agent OrangeTee & Tie.

The 34-year-old East Court is close to schools like Haig Girls’ School, Tanjong Katong Primary School, and CHIJ (Katong) Primary, as well as international educational institutions like Chatsworth International School (East), Canadian International School (Tanjong Katong), and Etonhouse International School. The tender will close on Oct 26.