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Parc Central Residences Executive Condo

The following is an in-depth review of the Parc Central Residences Executive Condo and what make it a viable investment alternative compared to mass-market private condominiums.

For a deeper insight of the development or to visit the show gallery for an information-sharing session, please contact the developer sales representative. Alternatively, you may WhatsApp Us.

The Parc Central EC is situated along Tampines Avenue 10 in Singapore’s District 18. It is the first executive condo to be launched in the Eastern region since 2012. Given the rarity of such an asset class in Eastern Singapore, pent-up demand is expected, especially from HDB upgraders. Demand is also seen from owners of HDB flats along Tampines Street 86 that will be completing their 5-year Minimum Occupation Period (MOP) soon.

Being a major regional centre, Tampines is self-contained estate that has much to offer. These include the following:

  • A wide range of amenities
  • Excellent transportation links
  • Abundance of nature parks and recreational facilities
  • Close proximity to preschools, schools and tertiary institutions
  • Future developments – expansion of the Tampines Regional Centre and the development of new economic corridors in the Chanqi Region and Paya Lebar Airbase

 

Parc Central Residences Site Location

Before we elaborate further on the above, let’s us briefly touch on the design concept. According to the developers, they state:

“Parc Central Residences is a future sanctuary of the East that seeks to provide recreation and relaxation qualities of life in a park. The concept of the development draws inspiration from New York City’s Central Park – a well-known green oasis set within a bustling location. It combines the allure of high-quality living spaces with the leisurely and active culture of communal parks to create a blissful and contemporary lifestyle”.

The Parc Central Residences will comprise eleven 16-storey high blocks with a total of 700 units. Most units will be North-South facing to avoid the morning and afternoon sun. They range from 3- to 5-bedroom units to cater to different segments of buyers.  The design emphasis is on being family-friendly with functional and liveable spaces. For example, all units will come with a yard for laundry, and together with the bathrooms, they will be naturally ventilated. Master bedrooms will be of sufficient sizes to fit a king-sized bed with 2 side tables while the home shelter that can be converted into an utility or storage room. For certain unit types, the kitchen will open to the balcony, promoting an outdoor lifestyle.

For a touch of luxury, the bigger units will come with a walk-in wardrobe. Those units at the top floor will have high ceilings (4.5m) for their living rooms which will add to the luxurious feel.

The developers will also provide quality fittings and furnishes from Bosch, Yale and Hangrohe, which are usually found in higher-end private condominiums.

A smart home system is also provided which can be used to control the lightings, digital locks, and other household appliances. And given the current covid-19 pandemic, all lifts will be equipped with a Schindler clean air solution that will sanitise the lift cabin in minutes. Common areas will also be well-ventilated to ensure a safer environment for all residents.

Quarry Pool

Aqua Pavilion

Last but not least, parc central will have more than 80 facilities catering to both children and adults, for recreation and relaxation. Some of these include the following:

  • Leisure Pavilion
  • Aqua Pavilion
  • Duo BBQ Pavilion
  • Teppanyaki Pavilion
  • Sun Lounges on Wet Decks
  • Quarry Pool (50m)
  • Exercise Plaza
  • Outdoor Dining Area
  • Outdoor Fitness Station
  • Community Garden
  • Bamboo Garden with Reflexology Path
  • Butterfly Trail
  • Horse & Carriage Playground
  • Tree-House Playground

They are divided into different zones – The Cove, Playfield, Lawn, Lake, Parc House and Sky Terrace

With so many thoughtful design features, they will definitely enhance the quality of living. But what about the surroundings and what investment potential can future residents look forward to? Let’s examine them below.

For E-brochure and floor plans, please contact us and they will be sent to you.

Shopping Malls Near Parc Central Residences Executive Condo

As Tampines is a matured estate, the Parc Central Residences executive condo has convenient access to a wide range of amenities due to its close proximity to Tampines Central. These includes the following:

Our Tampines Hub (OTH) – Singapore’s first-ever integrated community and lifestyle hub which provides a variety of sports facilities, roof-top swimming pools, a regional library, community club, retails shops and hawker centre.

Tampines Shopping Malls – There are three large shopping malls merely 2km from the Parc Central Residences EC, namely Century Square, Tampines Mall and Tampines One. Inside these malls, you will find a large variety of fashion and sports outlets, electronic goods, supermarkets, restaurants and eateries, among many others. Some of the major tenants include Isetan, BHG, H&M and Uniqlo, etc. Hence, families need not travel to town for a weekend shopping trip.

Our Tampines Hub

Tampines Retail Park – It is the home to three megastores, namely Giant Hypermarket, IKEA Tampines and Courts Megastore, where you can stock up on everyday necessities such as groceries, snacks, food, furniture and household appliances. They are within easy reach of Parc Central Residences EC and are just a 6-minute drive away.

The Tampines Retail Park is not only popular with residents living in Tampines, but also those from neighbouring housing estates such as Pasir Ris, Bedok, Sengkang and Punggol. There are 4 different shuttle bus services originating from Pasir Ris, Tampines, Bedok and Sengkang MRT stations that ferry shoppers to and from the park. The shuttle services to Tampines and Bedok runs on a daily basis, while the Pasir Ris and Sengkang shuttle services only run on weekends and public holidays.

Parc Central Residences Executive Condo’s Excellent Transportation Links

Parc Central Residences executive condo is well-connected by public transportation, with the Tampines MRT station and Bus Interchange less than 2 km away. In fact, the Tampines MRT station is an interchange between two major lines – the East-West and Downtown Lines – and it is just short walk from the nearby shopping malls (see map below). Slightly further out from the town centre are two other MRT stations – the Tampines West and Tampines East MRT stations. This provides residents great convenience when travelling to other parts of Singapore, be it for work, study or leisure.

Tampines is also well-connected to major roads and expressways. These include the Tampines Expressway (TPE), Pan Island Expressway (PIE) and the Kallang-Paya Lebar Expressway (KPE). For those driving or taking a taxi, it will take less than 20 minutes to reach the Central Business District (CBD) of Orchard Road/Marina Bay/Raffles Place.

Location Map

Parc Central Residences Condo is Close to Nature Parks & Recreational Facilities

There are many nature parks and and recreational facilities for residents of Tampines to enjoy. In fact, many of them are located close to the Parc Central Residences condo. These include the following:

Tampines Central Park – The Tampines Central Park is just a 13-minute walk from the Parc Central Residences condo, which is also conveniently connected to the Tampines Hub via a footpath. It is a green lung with many children playground where families can bring their young children to enjoy the outdoors. Among them, two iconic playgrounds stand out – the Watermelon and the Mangosteen playgrounds. The inspiration for these two playgrounds came from the fruit farms that were once found in Tampines. The park is also a place for residents to relax, jog, play mini soccer or basketball, roller blade and exercise in the various physical fitness stations.

Watermelon Playground, Tampines Central Park

Mangosteen Playground, Tampines Central Park

Tampines Eco Green – It is an eco-friendly park that offers a sanctuary rich in flora and fauna and nature recreation. These include various natural habitats such as open grasslands, freshwater wetlands and a secondary rainforest. Parc Central residents can go for bird watching and enjoy the beautiful sights of different species of butterflies and dragonflies flitting around. In fact, there are 75 species of birds and 55 species of butterflies and dragonflies, which will surely delight nature lovers.

The ecologically-conscious park also boasts of logs that double as benches and  water-less eco-toilet, the first of its kind in a public park. It converts human waste into compost using bacteria and wood shavings. The greatest marvel is how the loo is odour-free! Tampines Eco Green is linked by park connectors to the Tampines Biking Trail and Sun Plaza Park. It is also just a 20-minute walk to the Tampines MRT station.

Sun Plaza Park – The Sun Plaza Park is located at Tampines Central and just beside the bus interchange. The 9 hectares park offers a host of exciting activities to provide families with countless hours of entertainment. Some unique features of the park include textured walls, talking tubes, chimes, and organic texture walk. It is also a popular meeting place for social and cultural interactions where outdoor concerts, exhibitions and band performances are held at the amphitheatre. For sports enthusiasts, they can pit their skills against each other at the park’s Beach Ball court and Woodball Course.

Tampines Quarry Park – About 1km from Parc Central Residences executive condo, it is an old disused sand quarry that has been transformed into a lake of sorts from the collection of rain water over the years. For a long time, it has provided residents with various outdoor activities such as radio control (RC) boat racing, fishing, jogging or just enjoying the tranquil natural surroundings.

Bedok Reservoir Park – Slightly further down from the Tampines Quarry Park is the Bedok Reservoir Park, a 13-minute walk from Parc Central Residences. It is a very popular destination for joggers, water sports enthusiasts and families. It is also a converted sand quarry with the park surrounding the 88-hectare reservoir. Residents from around the housing estates and elsewhere frequently gather in the park for various activities such as dragon boat racing, kayaking, wakeboarding and fishing, or simply to enjoy the tranquility.

It is also a great place for the fitness enthusiasts who can jog at the park’s 4.3km track. There are also various children play areas that will provide countless hours of fun activities. Alternatively, visitors can just sit back, relax and enjoy the great scenery and breeze. For nature lovers, they can explore the diverse mix of flora and fauna or go bird-watching where little herons and kingfishers diving for their meals can regularly be seen.

Tampines Nature Parks

Water-Venture (Bedok Reservior) – Situated within the Bedok Reservoir Park, it offers orientation courses and rental of dragon boats and kayaks. It is one of the 7 Water Venture outlets islandwide and is operated by the People’s Association with professional staff, trainers and volunteers.

Forest Adventure (Bedok Reservoir Park) – Also located at Bedok Reservoir Park, Forest Adventure offers unforgettable outdoor adventure packed with laughter, adrenaline pumping action and personal conquests through its various obstacle courses. The courses are designed with children of all ages in mind, featuring everything from wobbly bridges, trapezes to tarzan swings. However, the highlight is the Big Zip where adventurers can zip 300m over Bedok Reservoir after conquering the obstacle course.

Bedok Reservoir Park

Forest Adventure

The map below shows the various nature and recreational parks located near Parc Central Residences executive condo.

Nature Parks And Recreational Amenities

Parc Central Residences – Close Proximity to Education Institutions

Providing children with a good education is every parent’s objective and there is no lack of schools and tertiary institutions near the Parc Central Residences condo. Being conveniently located around Tampines, it is a boon for families with school-going children. Besides cutting down on travelling time, it will also offer a better quality of life for everyone. Studies have shown that proximity to schools is a major consideration for many Singaporeans when it comes to buying properties. Click below to reveal the list of schools nearby.

 

Primary Schools

  • Poi Ching School ~ 0.9 km
  • St Hilda’s Primary School ~ 1.6 km
  • Junyuan Primary School ~ 2.0 km
  • Tampines Primary School ~ 2.3 km

 

Secondary Schools

  • Junyuan Secondary School ~ 0.9 km
  • Springfield Secondary School ~ 1.1 km
  • St Hilda’s Secondary School ~ 1.6 km
  • Tampines Secondary School ~ 2.5 km

 

Junior College

  • Tampines Meridien Junior College ~ 3.2 km

 

Polytechnic

  • Temasek Polytechnic ~ 1.6 km

 

University

  • Singapore University of Design And Technology (SUTD) ~ 5.4 km

 

Preschools

For families with young children, there is also no lack of preschools and childcare centres in Tampines. This is a boon for young couples facing the challenges of balancing careers with parenthood. Below is a non-exhaustive list of preschools within a 2-km radius of Parc Central Residences:

  • PCF Sparkletots Preschool Tampines ~ 0.85 km
  • Skool4Kidz Preschool @ Tampines GreenLeaf ~ 1.4 km
  • British Council (S) Pre-School ~ 1.5km
  • Growing Up Gifted (GUG) Preschool @ Tampines ~ 1.7 km
  • MindChamps Chinese PreSchool @ Tampines Central ~ 1.8 km
  • Posso Preschool @ Tampines Point ~ 1.8 km
  • MY World @ Tampines Changkat ~ 1.9 km
  • Skool4Kidz Preschool @ Tampines GreenLeaf ~ 1.4 km
  • NurtureStars @ SAFRA Tampines ~ 2.7 km
  • British Council (S) Pre-School ~ 1.5km
  • PCF Sparkletots Preschool Tampines ~ 0.85 km

International School

The United World College of South East Asia (East Campus) is approximately 0.7 km from the Parc Central Residences EC and just across Tampines Avenue 5. Being so close to an international school, it is likely to attract demand from expatriate families. This will provide an ideal investment for those looking for rental income in the longer-term. (Note: Executive Condominium is subjected to a 5-year Minimum Occupancy Period before they can be rented out or sold).

Parc Central Residences EC And The Future of Tampines Regional Centre

As early as 1991, the Singapore government has mooted the idea of decentralising economic activity away from the Central Business District (CBD) to other parts of the island. This kickstart the birth of regional centres and Tampines is the first to be built in 1992. More than 20 years later, Tampines has established itself as one of the most important regional centres.

However, things are not standing still. Many exciting developments are coming up which will entrench Tampines as one of the most exciting place to live, work and play. This will only benefit a new development such as Parc Central Residences.

The Development of Tampines North

Tampines North is an extension of the current Tampines estate and one-fifth of its size. When fully developed, it will provide about 21,000 new private and public housing, as well as commercial and industrial developments that will bring jobs to the area. And under study is the construction of an integrated transport hub that will link a bus interchange to the MRT station and commercial developments such as shopping malls. Given Parc Central Residences condo’s close proximity, such a major development will greatly enhance its desirability due to the conveniences and the array of essential amenities it brings to the area.

To facilitate the development of Tampines as a place to live, work and play, the new Cross Island Line will run through it, forming a rail network with the East-West and Downtown Lines. Set to be built by 2029, it will provide great accessibility and alternative travel routes, which will shorten commuting times for residents travelling within and outside Tampines.

To enhance liveability, a new linear park will be constructed that will be linked to the Tampines Eco Green and Sun Plaza Park. This will enable residents to stroll or cycle around the estate via a network of walkways and cycling paths as the government seek to develop a car-lite city. Amenities such as a community club, polyclinic, nursing home and schools are also in the plans. Such developments will surely add to the appeal of Parc Central Residences.

The Development of Tampines South

Besides Tampines North, Tampines South will be developed in the next 10-15 years. However, it will be on a smaller scale with 8,000 homes expected to be built. Located near the Tampines West MRT station (see map below), community facilities and green spaces will be developed for residents to enjoy.

Expansion of Tampines Regional Centre

The Transformation of Paya Lebar Airbase

One of the major plans announced by the government in 2103 is the transformation of the Paya Lebar Airbase. When developed, it will be less than a 10-minute drive or 20-minute bus ride from Parc Central Residences executive condo. Under the URA Master Plan, the Paya Lebar Airbase will be relocated from 2030s onwards, freeing up the whole area and its surrounding industrial developments.

The land, five times the size of Toa Payoh Town, will be progressively transformed into a highly liveable and sustainable new town. In addition, there are plans to develop it into a commercial hub to create jobs and lifestyle amenities for future residents. The relocation of the Paya Lebar Airbase will also enable improved transport connectivity between the eastern and northern parts of Singapore, which will bring great benefits to surrounding estates like Tampines (see to map below).

Redevelopment of Paya Lebar Airbase

Parc Central Residences Executive Condo – An Investment Overview

The expansion of the Tampines Regional Centre with the development of Tampines North and Tampines South has the potential to boost property values. This will benefit a new property like the Parc Central Residences executive condo. Besides enhancing the quality of living for residents, they will also bring in great employment opportunities. Moreover, when the Phase 1 of the Cross Island Line is completed, which will run from Chanqi through Tampines North, the two regions will be brought even closer together. In fact, the Tampines North station is just 4 stops from the Chanqi Aviation Park.

There are several mega developments planned for the Chanqi Region. This include the Chanqi Terminal 5 which will be 5 times the size of Terminal 1, 2 and 3 combined. The other include the Changi Aviation Park and Chanqi City which will consist of a Lifestyle Business Park and Waterfront District.

The Cross Island Line is also expected to pass through the Paya Lebar Airbase after it is relocated from 2030. This will free up 800 hectares of land (bigger than Ang Mo Kio town) for new homes, lifestyle amenities, green spaces, commercial buildings and industrial developments. As Tampines is situated just beside it, such a mega development will only enhance the investment potential of properties in these areas.

As can be seen, Tampines will be sandwiched between two new major regional centres – Chanqi and Paya lebar Airbase. The decentralization of regional hubs is an obvious attempt by the government to reduce the reliance on the Central Business District (CBD). Hence, a regional centre like Tampines can only be seen growing in importance from such decentralisaton plans. With the expected population and employment growth, this will naturally fuel demand for properties, be it for rental or own stay.

In addition, the plan for an Integrated Transport Hub in Tampines North will spur rapid developments in the surrounding areas once it is built. Therefore, Parc Central Residences EC will provide astute investors the first-mover advantage (ie, invest early before the completion of major developments that will push property prices significantly higher).

New Regional Centres Near Tampines

Are Executive Condos A Viable Investment Alternative?

As Executive Condominiums (EC) are hybrid public-private housing, they come with some ownership restrictions. These include the following:

  • Owners can only sell or rent out after the 5-year Minimum Occupation Period (MOP)
  • Owners can only sell to Singaporeans and Singapore Permanent Residents after 5 years.
  • Owners can only sell to foreigners after 10 years.

Other than these restrictions, they are mostly indistinguishable from mass-market private condominiums. They are built and sold by private developers and offer communal facilities such as swimming pools, clubhouses, playgrounds, etc. However, they are usually sold at a 15-20% discount below comparable private suburban condos.

Unlike private condos, first-time buyers of Executive Condos (EC) such as Parc Central Residence are eligible for CPF housing grant of up to $30,000 depending on their household income. For HDB flat upgraders, the purchase of an EC unit will not incur Additional Buyer’s Stamp Duty (ABSD) since their existing homes will have to be disposed of within 6 months of getting the Temporary Occupation Permit (TOP) of their ECs.

Due to the lower entry price compared to a private condo, coupled with the CPF housing grant given by the government, ECs already enjoy quite a significant price advantage right from the outset. This will also provide owners a ‘built-in’ buffer against any unexpected price drop.

Studies have also shown that prices of Executive Condos (ECs) mostly converged towards private suburban condos over time. In fact, some ECs such as Bishan Loft has even outperformed. Launched in 2001 at an average price of $422 psf, it has shot up to $1,170 psf, a hefty gain of 177%! However, it has to be noted that the sharp price appreciation of Bishan Loft is an outlier due to the lack of ECs in the area, as well as its close proximity to the Junction 8 shopping mall and the Bishan MRT station.

Nevertheless, Executive Condos (ECs) have generally done well overall, especially after 10 years when they are fully privatised. Studies have shown that when ECs reached their 5-year MOP (when they can be sold/rented out to Singaporeans and Singapore Permanent Residents) and full privatisation in 10 years (when they can be sold to foreigners), the price difference versus suburban private condos narrows to 9% and 5% respectively. [Note: Not all ECs perform equally. Investors need to take into account factors such as location, growth factors and timing of entry).

The convergence of ECs’ prices towards private condos may be attributed to the following factors:

  • On average, ECs are larger than private condos and this appeals to families looking for bigger space.
  • Lower price on a per sq ft basis makes ECs a more attractive option.
  • Lower entry price and government subsidy provides ECs a better internal rate of return (rental yield)
  • Property cooling measures such as the Total Debt Servicing Ratio (TDSR) that caps how much a buyer can borrow have made private condos less affordable.

Therefore, ECs such as the Parc Central Residences can be an attractive investment option for those willing to buy and hold, especially with the slew of property cooling measures keeping the rise of property prices on a more even keel. Besides the willingness to “buy and hold”, it is also important to enter the market at the right time and choose the right property in a good location that provides promising capital appreciation potential. As the saying goes – location creates desirability, desirability creates demand, and demand raises real estate values.

For those looking to invest in Parc Central Residences Executive Condo, they will have the opportunity to take advantage of the mega developments coming up around it. As some of these developments will only come to fruition in 10-15 years time, they will coincide nicely with the EC’s 10th anniversary when it becomes fully private.

Below is the 10-year price trend of ECs versus private suburban condos. As can be seen, ECs have outperformed. The average transacted psf of ECs has increased by an estimated 54.70% versus private suburban condos’ 43.16%.

Price Performance: Private Condos Vs ECs

However, for those unwilling to wait 10 years for Parc Central Residences to be fully privatised, the following new property launches with quite different attributes to consider are:

 

  • Provence Residence, an executive condo near Canberra MRT station and Canberra Plaza
  • Parc Greenwich, an executive condo at Fernvale Lane, next to the Seletar Springs Estate
  • Bartley Vue, a 115-unit condo development 400m from the Bartley MRT station
  • The Watergardens At Canberra, a low-rise condo development near the Canberra MRT station
  • Canninghill Piers, an integrated development at Clarke Quay beside the Singapore River
  • The Reef At King’s Dock, an exclusive waterfront development at Harbourfront opposite Sentosa island
  • Midtown Modern, an integrated development to be built atop the Bugis MRT station
  • One Bernam condo, a mixed-use development at Tanjong Pagar within the Central Business District
  • The Atelier, a freehold condo development at Newton in Singapore’s prime District 9
  • Kopar At Newton, an exclusive condo development opposite the Newton Food Centre
  • Ki Residences At Brookvale, a 999-year development in the idyllic Sunset Way estate
  • One-North Eden, a mixed-use development in one-north, Singapore’s high-tech, research and innovation hub
  • Pasir Ris 8, an integrated development beside the Pasir Ris MRT station, bus interchange and White Sands shopping mall

Parc Central Residences Price

The average selling price of Parc Central Residences was $1,177 psf on the first day of launch, selling 414 out of a total of 700 units, indicating it is a value-for-money project due to its meticulously conceived design that was very well received by purchasers. The price compared very favourably to other recent executive condo launches (refer below).

The following are the indicative pricing for Parc Central Residences Executive Condo:

  • 3-Bedroom Deluxe 872 sq ft – from $956,000  ($1,096 psf)
  • 3-Bedroom Premium 926 sq ft – from $1.015,000 ($1,096 psf)
  • 3-Bedroom Luxury 990 sq ft – from $1,069,000 ($1,079 psf)
  • 4-Bedroom Premium 1,109 sq ft – from $1,258,000 ($1,134 psf)
  • 4-Bedroom Luxury 1,270 sq ft – from $1,426,000 ($1,123 psf)
  • 5-Bedroom Luxury 1,432 sq ft – from $1,609,000 ($1,123 psf)

Pricing Review of Recent Executive Condo Launches

The following is a review of the pricing of some recently launched executive condos.

The OLA Executive Condo was launched in March 2020 in Sengkang. The 548-unit development by Anchorvale was sold at an average of $1,135 psf. Prices for the two-bedroom units start from $1,100 psf; three-bedders from $999 psf; four-bedders from $976 psf, and the five-bedders from $1,154 psf.

Parc Canberra was launched in January 2020. It is a 496-unit executive condo project by Hoi Hup Sunway in Sembawang. It was sold at an average price of $1,080 psf, with prices for a three-bedder starting from $855,000 – $1.1 million; four-bedder from $1.2 – $1.3 million, and five-bedder from $1.5 – $1.6 million.

Piermont Grand was launched in July 2019 in Punggol. The 820-unit development by City Developments Ltd (CDL) was sold at an average price of $1,080 psf, with prices ranging from $888,000 for a three-bedroom; $1.34 million for a four-bedroom, and $1.508 million for a five-bedroom.

Looking at the recent price trend, the pricing for Parc Central Residences Executive Condo is within expectation. This is about 14% below the Treasures At Tampines’ launch price of $1,280. Treasures At Tampines, launched in March 2019, is a 2,203-unit private condo development – the largest condominium project in Singapore to date.

Payment Scheme For Parc Central Residences Executive Condo

For purchase of the Parc Central Residences executive condo, there are two payment schemes available – Progressive Payment Scheme and Deferred Payment Scheme.

As their names suggest, the Progressive Payment scheme requires buyers to pay a certain percentage of the EC’s purchase price based on the stages of completion of the project. But for the Deferred Payment Scheme, the bulk of the payment is only required on Notice of Vacant Possession and Completion Date. However, do take note that buyers who opted for the latter usually pay a price 2-3% higher. Please click below for details.

Stages of Project Payment Under Deferred Payment Scheme
Upon Grant of Option to Purchase (OTP) 5% (Booking Fee)
Upon Signing of the Sale & Purchase Agreement or Within 8 Weeks of Option Date 20% (Less Booking Fee)
Notice of Vacant Possession 65%
On Completion Date 5%

Parc Central Residences Unit Types and Sizes

Parc Central Residences is a 700-unit executive condominium development. Below are the unit types and sizes available. Ranging from 3- to 5 Bedrooms, it offers buyers a choice of configurations to meet different budgets and lifestyle needs.

Unit Description Type No. of Units Floor Area (sq m) Floor Area (sq ft)
3 Bedroom Deluxe C1 / C2 80 81 / 83 872 / 893
3 Bedroom Premium C3 /C4 /C5 128 86 / 87 926 / 936
3 Bedroom Luxury C6 /C7 / C8 191 92 / 95 /98 990 / 1023 / 1055
4 Bedroom Deluxe D1 / D2 64 103 / 104 1109 / 1119
4 Bedroom Premium D3 / D4 157 112 / 114 1206 / 1227
4 Bedroom Luxury D5 48 118 1270
5 Bedroom Luxury E1 / E2 32 133 / 136 1432 / 1464
Total No. of Units 700

Parc Central Residences EC Factsheet

The Parc Central Residences is an Executive Condo (EC) with full facilities. Sitting on an area of 24,938 sq m (268,430 sq ft) with a plot ratio of 2.8, it will yield 695 units. Like all other ECs, it is a 99-year leasehold development and offers 3 to 5-bedroom units. Please contact us for floor plans and we will furnish them to you once they have been released by the developer.

As ECs are built mainly for owner occupation, and buyers can only sell or rent out their property after the 5-year Minimum Occupancy Period (MOP)*, they tend to larger than private mass market condos (*Please check with us concerning HDB eligibility and ownership criteria for ECs).

The Executive condo project is jointly developed by Hoi Hup Realty Pte Ltd with the Sunway Group, a subsidiary of Malaysian group Sunway Berhad. They clinched the rare site during the government land sale (GLS) in January 2019 by submitting the highest bid of $434.4m, or $578 psf of Gross Floor Area (GFA). The estimated launch date will be in the first quarter of October 2020.

Parc Central Residences Executive Condo Eligibility Criteria

To be eligible to purchase the Parc Central Residences Executive Condo (EC), applicants must qualify under one of the following HDB’s eligibility schemes.

  1. Public Scheme
  2. Fiancé/Fiancée Scheme
  3. Orphans Scheme
  4. Joint Singles Scheme

Applicants must be at least 21 years old and must consist of a Singapore citizen and at least one other Singapore citizen or Singapore Permanent Resident. If the applicant is single, he/she must be 35 years old applying under the Joint Singles Scheme, and all of singles must be Singapore citizens.

Applicants must also have a combined gross monthly household income not exceeding $16,000.

Other Property Ownership Restrictions

Applicants must not own other property overseas or locally, or have not disposed of any within the last 30 months.

In addition, they must not have bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties / received 1 CPF Housing Grant thus far

HDB owners can only apply for an EC after the 5-year MOP while existing EC owners must dispose of their property and wait out 30 months before they are eligible to apply for a new EC.

For divorcees, they are able to purchase an EC under the “public scheme” with child(ren) under their legal custody. However, if the care and control of your child(ren) under the age of 21 is shared with your ex-spouse, you must obtain his/her written agreement before you can list your child(ren) in a flat application.

The Developers of Parc Central Residences

The Parc Central Residences Executive Condo (EC) will be jointly developed by Hoi Hup Realty Pte Ltd with the Sunway Group, a subsidiary of Malaysian group Sunway Berhad. They clinched the rare site during the government land sale (GLS) in January 2019 by submitting the highest bid of $434.4m, or $578 psf of Gros Floor Area (GFA), beating six other bidders that include City Developments Ltd, MCC Land and Sim Lian Land. The estimated launch date will be in October 2020.

About Hoi Hup Realty Pte Ltd

Hoi Hup Realty Pte Ltd is founded in 1983. Having established itself as a niche property developer over the years, it has successfully completed a diversified portfolio of quality property developments comprising private condominiums, landed housing, cluster-strata housing, executive condominiums and mixed-use commercial developments.

With its pursue of building excellence, it has received more than 25 awards and accolades including the BCI Asia Top 10 Developers Award in 2012, 2013, 2017 and 2018.

One of their landmark developments is the 33-storey mixed-use Royal Square at Novena. It consists of retail units, restaurants, medical suites and the 250-room Courtyard by Marriot. The development has received a Green Mark Platinum Award from BCA Singapore, marking their first success in creating more environmentally sustainable products.

The following awards they have received attest to their pursuit of building excellence, exceptional workmanship and innovation to deliver unsurpassed values to all their customers. Please click below to reveal its list of awards.

 

  • BCI Asia Top Ten Developers 2018
  • BCA Quality Excellence Award 2018- Quality Champion (Platinum)
  • BCI Asia Top Ten Developers 2017
  • BCA Quality Excellence Award 2017- Quality Champion (Gold Plus)
  • BCA Construction Excellence Award 2017 – Kovan Regency
  • BCA Construction Excellence Award 2017 (Certificate of Merit) – Sea Esta
  • BCA Quality Excellence Award 2016 – Quality Champion (Gold Plus)
  • BCA Construction Excellence Award 2016 – Lake Vista @ Yuan Ching
  • BCA Construction Excellence Award 2016 (Merit) – Vacanza @ East
  • 2015 Asia Pacific Property Awards (Architecture Multiple Residence) – Sophia Hills
  • BCA Green Mark Award 2015 (Gold Plus) – Kovan Regency
  • National Parks Board Leaf Certification 2015 – Foresta @ Mt Faber
  • BCA Green Mark Platinum Award (New Building for Non- Residential Buildings) – Royal Square at Novena
  • National Parks Board Leaf Certification 2014 – Vacanza @ East
  • BCI Asia Top Ten Developers 2013
  • BCA Construction Productivity Award 2013 (Gold) – The Peak @ Toa Payoh
  • BCA Construction Excellence Award 2013- Shelford 23
  • BCA Construction Excellence Award 2013- City View @ Boon Keng
  • BCI Asia Top Ten Developers 2012
  • BCA Construction Productivity Award 2012 (Gold) – City View @ Boon Keng
  • BCA Construction Excellence Award 2008- De Royale
  • BCA Best Buildable Design Award 2007 (Merit) – De Royale

About Sunway Group

The Sunway Group is established in 1974 and has grown to become one of Malaysia’s largest conglomerates with 13 business divisions that operate across 50 locations worldwide. Their core interests consist of real estate, construction, education, healthcare, retail and hospitality.

It has built and operate sustainable townships such as the Sunway City Kuala Lumpur, Sunway City Ipoh in Perak and Sunway City Iskandar in Johor, and a host of other integrated developments which collectively span more than 5,000 acres across Malaysia.

Committed to strong Economic, Environment and Social practices to build thriving communities, it’s vision is to be a model for sustainable development and innovation that will enrich lives for a better tomorrow.

Showflat Viewing For Parc Central Residences Executive Condo

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    If you have further queries about the development, you may also WhatsApp Us. You may also contact us for the following and we will be delighted to assist you, obligation-free:

    • Financial evaluation for your property purchase
    • Learn about property financing
    • Explore property investment options
    • Assess viable investment strategies
    • Share information and statistics about Singapore’s property market