Developer S P Setia Wins Tender with Highest Bid on Daintree Residence
Made open to the public on 28 February, bids for the land parcel, Daintree Residences were scheduled to close on the 11th of April. Days later on the 18th, it was announced that the Malaysian developer, S P Setia, had successfully won the land after providing the highest bid of SGD 265 million. This topped estimation by experts, who had guessed that the land would not receive bids above 200 million.
The developer’s bid for the residential plot beat out those from 24 other major developers who had expressed interest in acquiring the land, including Singhaiyi Investments and Centrex Developments. The Toh Tuck Road new launch will be the S P Setia’s third property development in Singapore.
The chief executive officer and and president of S P Setia, Datuk Khor Chap Jen, has expressed the developer’s interest in Singapore land as having identified it as one of the S P Setia’s key overseas markets. The Malaysian group first ventured into Singapore’s land development market in 2012 with their launch of the freehold condo, 18 Woodsville, which is located next to the Potong MRT Station. Since then, the Malaysian developer has also launched the 483-unit condo, Eco Sanctuary, which is situated along Chestnut Avenue.
The Daintree Residence is targeted to be launched in 2018 with a completion date of approximately 60 months. The group endeavours to strengthen their presence in Singapore with this third launch, and plans to showcase S P Setia’s mastery in developing eco-themed condos for residents of Singapore.
The group plans to have their full acquisition of the land, which possesses a gross development value of SGD 457 million, completed by the third quarter of this year. According to information released by the group and other news sources, the intent is to fund the project through both bank borrowings and internal developer funds.
Daintree Residence – About the Location
Daintree Residence new condo is located within the residential and planning estate of Bukit Timah in the Central Region of Singapore. Bukit Timah contains some of the highest densities of private housing in the country, with luxury condo units sold at prices that match the appeal of the location and their internal amenities.
The name of the area, Bukit Timah, directly translates to “tin hill” in Malay – which refers to the two hills located at the eastern source of the Kranji River. With a rich history, the high-value land continues to evoke interest as an area that now contains some of the most expensive, luxurious housing units in Singapore.
The longest road in Singapore, the Bukit Timah Road, can be found in this area stretching 25 kilometres long. Built in 1845, the road bore witness to the last defensive stand of the Japanese army in World War II when the land was lost to the Japanese in 1942. During the Japanese Occupation, a Shinto shrine – which has since been abolished – and two war memorials were constructed to commemorate the deaths of Japanese during the war, as well as those of British and Empire troops that had perished defending Singapore.
Prominent sites such as the Bukit Timah Nature Reserve and the plethora of industrial buildings and high-rise flats have been built in the area since. Although Bukit Timah became a major industrial centre in the 1960’s and ‘70s, the area exists today as a premier residential district home to luxury condominiums, bungalows, and terraces.
About the Developer for Daintree Residence Toh Tuck Road
The Malaysian developer, S P Setia, first made their debut in the Singapore market in 2012 with their launch of the freehold condominium, 18 Woodsville. Since that debut, the group has continued to assert their confidence in their investments in the thriving Singapore real estate market.
In addition to Singapore, the group has ventured into several other international markets, including those within the United Kingdom, Vietnam, Australia, and China. The group has gained international renown for their luxurious residential developments, and continues their endeavours to strengthen their presence in Singapore through highly-anticipated developments such as the upcoming Toh Tuck Road project.
The 18 Woodsville and Eco Sanctuary condo developments by S P Setia have been admired as expertly-crafted, luxurious housing properties within the community, featuring lush views that prioritise tranquillity and connectivity for the benefit of their residents.
The internal values of the developer pay attention to social responsibility in creating eco-developments that contribute to a clean and safe environment, as well as integrity and continued growth as a flourishing company.
Prospective investors and residents of the S P Setia new launch can expect uniquely-crafted, luxurious housing near attractive sites such as the Bukit Timah Nature Reserve and Bukit Batok Nature Park.
Nearby Schools Around Daintree Residence Condominium
The area of Bukit Timah is known to contain many elite schools that provide prime educational opportunities for children and families living nearby. These include primary and secondary schools, as well as tertiary institutions and other international schools.
Some of the highly-praised primary schools located close to the Daintree Residence condo include:
- Bukit Timah Primary School,
- Methodist Girls’ School, and
- Nanyang Primary School.
Secondary and tertiary institutions include
- Hwa Chong Institution,
- Nanyang Girls’ High School,
- National Junior College,
- Ngee Ann Polytechnic, and
- Singapore University of Social Sciences.
Furthermore, the area contains many international institutions, including
- DIMENSIONS International College,
- German European School,
- Singapore Korean International School, and
- Swiss School in Singapore.
The community thrives on diversity, but more importantly, top-notch education for the young minds of Singapore’s future. The prime educational opportunities located within close proximity to the Daintree Residence new condo will provide particular benefit to families residing within the luxury residence.
Nearby Shopping Centres for Daintree Residence Residents to Enjoy
Condominium- Daintree Residence will also provide benefit for residents who find excitement at the prospect residing near a plethora of shopping opportunities. The developer has indicated that the luxury condo will be ideal for residents who enjoy participating in the best shopping Singapore has to offer due to its closeness to the Bukit Timah Shopping Centre, as well as the Beauty World Centre, Bukit Timah Plaza, The Grandstand, and West Mall.
The Bukit Timah Shopping Centre is an impressive building standing 22-storeys high and contains multiple exciting shopping opportunities for its patrons. Residing close to transportation stops, this centre is approximately 1.5 kilometres from Toh Tuck Road, which is an estimated 20-minute walk, or less if residents choose to engage in other transportation options.
Additionally, the Bukit Timah Plaza is located just 1.8 kilometres from Toh Tuck Road, with West Mall and The Grandstand distanced at proximities of 3.2 and 4.6 kilometres, respectively. Residents within the Daintree Residence condo planned by the developer will not be for want when it comes to engaging in the many shopping and dining opportunities that may be afforded to them living within this premier residential district.
How Daintree Residence Fits Within the Government Master Plan
The benefits and appealing opportunities afforded to Daintree Residence residents through the Government master plan for this area are plentiful. In addition to the wide variety of recreational options to engage in for those who enjoy a social lifestyle, the community also thrives on connectivity, highly accessible transportation options, and lush greenery that make for breathtaking views.
The facilities and amenities offered within the area have been planned to meet all needs of residents living nearby to create a highly livable, self-sufficient community. Job opportunities for Daintree Residence residents living in the area have also been created nearby through the implementation of local employment centres and commercial nodes.
Recreational sites such as the upcoming Tyersall Learning Forest, various parks at Garlick Avenue, and the Rail Corridor offer residents several leisurely options to engage in and enjoy as members of a growing community. Several MRT stations and road improvements are also in the works to provide residents with smoother and increasingly accessible transportation options.
Register Early For Daintree Residence Condo VVIP.
Based on the impressive track record of the developer, as well as the potential of the location itself, the upcoming Daintree Residence project has become a residential site many have deigned to keep an eye on. Register your interest today to keep yourself updated on newly released details regarding the luxurious upcoming Daintree Residence condo development.