3 new condos soon to rise at your suburban neighborhood

Shopping for a new roof over your head? New condominium developments Natura, Ripple Bay, or Palm Isles may just be what you are looking for.

According to a report from Maybank Kim Eng's the Real Deals, three new developments in the suburban neighbourhood will be launched by the end of this week. They are Natura at Hillview Terrace by Macly Group and Roxy-Pacific Holdings, Ripple Bay in Pasir Ris by MCL Land, and Palm Isles in Flora Drive by Frasers Centrepoint Homes. Except for Natura, the other two are 99-year leasehold projects.

With its name beginning with the letter P, Palm Isles may be the odd one out among the cluster of homes in Flora Drive that has hitherto been named in alphabetical order. It was a legacy of Hong Leong and City Developments. Azalea Park was the first to be launched in 1993, followed by Ballota Park in 1996, Carissa in 1999, Dahlia in 2000, Edelweiss Park in 2002, Ferraria Park in 2006, The Gale in 2009, and Hedges Park in April last year. Units at Hedges Park sold for an average of $890 psf, 20% higher than The Gale’s $727 psf. Frasers has announced the price range for Palm Isles – $909 psf for a one-bedroom unit, $839 psf for a two-bedroom unit, $767 psf for a three-bedroom unit and $730 psf for a garden home. On average, the units are priced just slightly lower than Hedges Park’s, possibly factoring in the abundant supply in the area.

Another project may be launched in Flora Drive in the second half of the year as the original land parcel under the Government Land Sales (GLS) programme was split into two. The second plot of land was awarded to Realty Consortium, a subsidiary of Koh Brothers, in October last year. This site was sold for just 11% higher than the price for Palm Isles. It is projected to hold 415 units, bringing the total number of units along Flora Drive to 4,171.

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