Tembusu Grand in Katong is the first big launch by CDL and MCL Land in 2023

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J'Den launch price

On March 24th the sales gallery at the six-dwelling Tembusu Grand will be open for a public preview. the sales expected to begin in April. A private condominium by large developers City Developments Ltd (CDL) and MCL Land, Tembusu Grand is located on a sprawling 220,622 square feet, 99-year leasehold site on Jalan Tembusu, just off Tanjong Katong Road in prime District 15.

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“Tembusu Grand is our debut for this year and we’re thrilled to liven up our East Coast area with yet another jewel in the residential market following Amber Park,” says Sherman Kwek, CDL group CEO. The 592-unit freehold Amber Park at Amber Gardens was launched in 2019 and is 99.5% sold, based on caveats filed in conjunction with URA Realis as of March 22.

This latest development marks the third collaboration of the two developers after the launch of the 407-unit Piccadilly Grand in Farrer Park last May, which has been currently 87% sold and the executive condo of 639 units located in Tengah, Copen Grand that was completely sold within one month of its debut in November.

The units within the development are in a north-south layout and are distributed over four blocks with twenty and 21 storeys. There is a wide variety of units, from one-bedroom-plus-study units of 527 sq ft to five-bedroom units of 1,711 sq ft. There are two 5-bedroom penthouses with 2,691 sq feet. “Tembusu Grand has an array of units that accommodate different lifestyles,” says Kwek.

Prices start from $1.248 million ($2,368 per square foot) for a single-bedroom and studies, $1.548 millions ($2,321 PSF) to a 2-bedroom unit, $2.278 million ($2,301 per square foot) in a 3 bedroom unit, $3.288 million ($2,296 per square foot) to a 4-bedroom, and $4.028 million ($2,354 per sq. ft.) in a 5 bedroom home.

Right-sizers and upgraders
Doris Ong, deputy CEO of ERA Singapore, sees the project drawing a range of buyers ranging from owner-occupiers to investors. The proximity of schools, including Haig Girls’ School, Kong Hwa School and Tanjong Katong Primary School situated in the vicinity of 1km Tembusu Grand, will draw families with children of schooling age. They will also be drawn to the larger units. She says she knows that Canadian International School (Tanjong Katong Campus) is located nearby which could attract investors.

“In East, you will find lots of smaller and older apartment and condo buildings, particularly located in The Telok Kurau area,” According to Ong. “Some residents may wish to have a new lifestyle and decide to move to a brand new apartment that has more amenities, rather than being content and making improvements.” In addition she observes other people living further to the east, like those in Bedok, Simei and Tampines that are seeking to be further away from the cities.

Nearby are the luxury homes on Branksome, Goodman and Wilkinson Roads According to Mark Yip, CEO of Huttons Asia. “The owners of these houses may want to purchase a property in Tembusu Grand for their children,” he adds.

A few residents may also be thinking about “right-sizing” out of a land-based property to a condominium unit as suggested by Ken Low, managing partner of SRI. “This is a trend that we have observed in recent launches of new projects located near estates with lands and people who are looking to downsize, and second-generation families who want to live near relatives,” he adds.

Of the 638 units at Tembusu Grand, 317 (49.7%) comprise one-bedroom-plus-study units of 517 sq ft, and two-bedroom and two-bedroom-plus-study units of 667 sq ft and 743 sq ft. “The fact that almost 50% of the units at Tembusu Grand are one- and two-bedroom units will ensure that the project will do well,” says Ismail Gafoor, CEO of PropNex. “At many of the latest launches — ranging from Sceneca Residence up to Terra Hill and The Botany the units at Tembusu Grand were the first units to be sold, showing that there’s still an interest in investment properties that are priced lower.”

According to PropNex According to PropNex, District 15 has less than 100 un-sold units from earlier projects with a majority of them having larger units. Gafoor is aware of the limited supply of two- and one-bedroom units that are available for sale.

Efficient layout, latest facilities
ADDP Architects is the design architect for Tembusu Grand, as well as for Piccadilly Grand and Copen Grand. “The idea to Tembusu Grand’s design was the form and texture of the Tembusu old-growth trees,” says Markus Cheng who is an associate with ADDP Architects.

The most distinctive feature of the project is its spectacular entrance and drop-off zone, according to Cheng. The single-storey, lantern-like clubhouse with full height glass, which offers views of the 50m-long infinity pool pools and lush grounds. The clubhouse has multiple levels. The first (Grand Club) includes a gaming area as well as a karaoke room as well as the entertainment and function rooms. Its Tembusu Club is a multi-level covered space that cantilevers with the appearance of a waterfall. It has an exclusive dining space on the second level, as well as fitness facilities on the fifth floor. Both areas have high-quality glass that offers expansive views.

Other amenities include tennis courts, a gym and barbeque pavilion, co-working lounge as well as a playground for children. The landscape designer Tinderbox Landscape Studio. Tinderbox Landscape Studio.

Tembusu Grand is situated on a rectangular site that made it possible for the architect to design the site in a way that maximizes its potential and make the most of the surrounding landscape and views corridors, according to ADDP’s Cheng.

With the orientation north-south of the buildings which is why those on the upper floors will enjoy “unblocked and expansive” views, says Christine Sun, OrangeTee & Tie senior vice-president of research and analytics.

Tembusu Grand will also be the first of three major projects within the Katong East Coast enclave that will be launched in the coming year. With the exception of the smaller developments that are currently in development, there are seven brand new launches planned for the pipeline, and around 2,759 units available to be sold, according to Huttons Yip.

“As the first brand new opening within District 15 this year, Tembusu Grand will set new standards in product offerings featuring premium appliances, top fittings, and luxurious finishes.” states an official CDL spokesperson.

CDL along with MCL Land won the residential development site located at Jalan Tembusu as part of the government land sale (GLS) offer of $768 million, or $1,302 per square foot for each plot (psf per plot ratio) on January 20, 2022. The bid was as the highest of the eight bids that were received.

Just across the street to Tembusu Grand is a 99-year leasehold site with 221,438 square feet which could yield around 840 housing units. The plot of land for residential development was announced to be sold under the GLS program on the 14th of March.

“Tembusu Grand will have a first-mover advantage” PropNex’s Gafoor. “With future GLS sites that are sold at or above $1,300 psf per pound, investors will find Tembusu Grand to be a worthy investment.”

The bid for Jalan Tembusu GLS site will end on the 18th of July, developers are likely to follow the results of sales from new launches that have been launched in the region as per Tricia Song. CBRE chief of research and analysis for Southeast Asia. “For the moment, we anticipate that the site will draw between four and six bids, with the highest bid of $1,300 to $1.400 psf per in ppr. We expect developers will sell the site at an average cost between $2,350 and $2,450 psf.”

‘Pent-up demand’
Despite the pipeline of supply, Song says there’s “ample demand for pent-up space” because of the affluence in the East Coast – Katong region. She says that the most recent similar project to be launched is that 99-year leasehold Liv@MB located at Mountbatten Road, launched in May 2022. As as of March 22, the 298-unit property has 86% sold units, and the sale price was an average of $2,412 per sq ft.

But, in the Katong sub-zone that is bordered by Tanjong Katong Road, Mountbatten Road, Dunman Road and Still Road — the largest development that was launched in 2004 was the 360-unit Haig Court in 2004, SRI’s Low highlights. “It was twenty years since the last time who are looking to purchase an apartment in a large condo located within the city of Katong” Low adds.

Low believes that the smaller units in Tembusu Grand to be “over-subscribed” from investors, based upon sales trends during recent launches. “In the city fringe [Rest of Central Region or RCR], District 15 has the highest rental transaction volume after District 3, which is the Alexandra-Queenstown-Tiong Bahru area,” he says.

New developments are launching within the Outside Central Region, such as the 268-unit Sceneca Residence at Tanah Merah Kechil Link has achieved an average price of $2072 per square foot in January. Meanwhile, The 386 unit The Botany saw units transacted at a median of $2,070 per square foot in March. Low believes Tembusu Grand, located in the RCR is likely to see prices ranging from $2,400 to $2,500 per sq. ft.

‘Golden opportunity’
Tembusu Grand is just 10 minutes walk from the new Tanjong Katong MRT Station on the Thomson-East Coast Line and a quick drive to Marina Bay, the CBD, Marina Bay, Singapore Sports Hub and Changi Airport The article explains Huttons”Yip..

Schools like Tao Nan School, Chung Cheng High School, Dunman High School, Tanjong Katong Girls’ School and Victoria Junior College are within 2km of Tembusu Grand according to Yip. Other amenities include the vast range of F&B establishments within the Katong neighborhood, as well as shopping centers like PLQ Mall, i12Katong and Parkway Parade. “There are a variety of facilities, such as food centers as well as parks, recreation facilities and food outlets,” he adds.

“The region is a favorite for those who want to live close to the ocean as well as East Coast Park,” according to OrangeTee & Tie’s Sun. “Katong is also home to a strong Peranakan culture that draws people who appreciate a retro and a distinctly cultural vibe.”

Tembusu Grand was conferred the Green Mark Platinum Super Low Energy certification by the Building & Construction Authority for its water and energy-efficient layout and eco-friendly features.

“This new development will be an excellent opportunity for smart property lovers who have a love for the stunning East Coast,” comments Rob Garman, MCL Land CEO. “Anticipating the high demand We’re sure the Tembusu Grand will add another feather in our crown of successful stories.”

Despite the current banking crisis PropNex’s Gafoor believes that Singapore’s property market will continue to be resilient in the future. “We have survived many crises like for instance, the Global Financial Crisis, the circuit-breaker and pandemic, as well as cycles of cooling measures,” Gafoor says. “Those who take an investment approach with a an outlook for the future will be less affected.”

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