Piccadilly Grand Will Set a New Benchmark for the Luxury Executive Condo segment

Aside from being the biggest new launch EC in 2022 (technically North Gaia is bigger with 616 units but it’s an EC), Piccadilly Grand is also a highly-anticipated project that will have a major impact on the housing market. It will set a new benchmark for the luxury executive condominium segment and may have an impact on pricing, expectations and supply going forward.

The prestigious EC project by City Developments Limited (CDL) will feature a total of 620 units that come in 1 to 5 bedrooms. Its 12 blocks will rise up to 14 floors high and each block will be surrounded by lush landscaping. This will ensure that residents will enjoy a peaceful and tranquil lifestyle. The location is also a big draw because of the close proximity to amenities and transport links.

According to Nicholas Mak, head of research and consultancy at ERA Realty Network, the Jalan tembusu grand site attracted a stronger response than its sister site in District 16 since it is “more attractive”. It is located near the upcoming Tanjong Katong MRT station; popular schools like Tanjong Katong Primary School and Canadian International School (Tanjong Katong Campus); eateries in the Katong area; and East Coast Park. “These strong attributes will appeal to many home buyers,” he added.

The site at Thiam Siew Avenue, meanwhile, is expected to yield up to 1,040 homes. The top bid is likely to exceed $1 billion, which would make it one of the largest en bloc sales since the introduction of cooling measures in 2018.

CDL is well-known for its award-winning and innovative developments. Its track record includes The Regent, a luxury high-rise that is the most successful EC in Singapore’s history. The development won the Best Architecture Design award in 2010 and was named by CNN as one of the World’s Greatest Places to Live in 2013.

In addition, the developer has a strong balance sheet with a large cash reserve of $1.6 billion. This, combined with a strong management team, will allow it to weather any economic storms and continue to deliver on its promises to its customers.

Despite the current cooling measures, the housing market is expected to rebound in 2023, especially as the economy continues to grow. This will lead to increased demand for residential properties, particularly in the luxury segment. This will in turn boost property prices and lead to higher rental yields for investors.

The upcoming EC will be well-connected to the rest of Singapore via a well-established public and private transport network. It is just two MRT stops and a short drive to Parkway Parade and Kallang Wave Mall, while the future Outram Park station will also be just a few MRT stops away.

The nearby Katong Park is one of the oldest parks in Singapore and is a perfect place for families to relax. It has a playground, fitness corners and even dog-run areas. It is also a short walk to the popular shopping and dining precinct of Meyer Road.

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