Riverfront Residences @ Hougang Ave 7 Brief Details
||Oxley-Lian Beng Venture Pte Ltd
||344 Hougang Avenue 7, Singapore 530344
||Hougang Avenue 7
|Developer Sales Hotline
|Est Indicative Selling Price Range
||Break Even Estimated $1,100 psf
||99 years leasehold
||Riverfront Residences, Former En-bloc of Rio Casa. High Rise Full Facilities condominium
||396,234 sq ft
|Maximum permissible Gross Floor Area
||1.1 million sq ft
|Number of Units
||1,400 units, assuming an average size of 70 sqm per unit.
|No of Units
|No of Blocks
|No of Storey
In April 2017, more than 80 percent of the owners agreed for an en bloc sale, after which, the property was put up for sale. After the sale is completed successfully, and conditions met, each owner will receive S$2 million for their property. As usual, before the project launch announcement, it has to undergo some pending government paperwork and clearance from the authorities for a full go-ahead.
Since the two companies spearheading this deal are major players, there is hardly an occasion when an obstacle has stopped or delayed a project as massive as this. Riverfront Residences will have a total of seven residential towers (subject to changes) and will be overseeing a beautiful and long riverfront.
According to sources, the new development of the Riverfront Residences condo is calculated to be in the region of S$1.4 billion and will have a total of 1400 residential units. Oxley has been famous for developing luxurious condos and units for residential purposes and it is highly likely that this project will also be fully developed for a luxurious unit, resembling most of Oxley’s significant projects.
What started as farmland and villages whose streets were filled with culture and festivities, Hougang (meaning ‘the end of the river’) was later transformed and developed into Singapore’s largest public housing estate. As development began, the housing units at Hougang were designed to have more shapely curves and were given many styled architectural features. With the acquisition of this matured estate Rio Casa, Oxley-Lian Beng Venture Pte Ltd will soon be launching another prestigious condo development, Riverfront Residences along Hougang Avenue 7.
URA Masterplan For Developing Hougang Where Riverfront Residences is
According to the Hougang Masterplan, to rediscover the town and it’s glory, areas near the Punggol Park will be cleared away to build new homes. Hougang is being completely built as a New Town, which means that the area’s master plan includes several important features for the families that will shift in the future or are already shifted. Hougang will have a community centre, where all residents could come and interact with each other. At Hougang Avenue 9, will be located and arts centre and a healthcare facility. At Kovan, several more retail amenities are being planned to be opened. The area is also set to undergo a huge remaking with new walkways and landscaping around the area.
Hougang residents also have the ease of having easy access to several parks in the neighbourhood through the North Eastern Riverine Loop (NERL). The NERL is also planned to become a part of the Round Island Route, which will further make more faraway lands and places more accessible for the residents of Hougang.
Regarding the development of Riverfront Residences @ Hougang Near Serangoon, The Oxley Holdings are responsible for 35% shares, while Lian Beng Group hold 20% of the stakes of the project
Oxley has a vast work profile, with property development and property investment as the main spearheads of the companies resources. However, the company is also noted for its project management and consultancy expertise in some other countries. Oxley has previously worked on several projects that include residential, commercial and industrial projects. All of the companies projects include property development that is located in prime and posh locations and includes luxurious elements and features.
The Oxley Group has successfully acquired development properties in the UK, Cambodia, Ireland, Indonesia, Myanmar, Malaysia and Singapore. In Singapore, they have been responsible for projects like the Oxley Tower, KAP Residences, The Flow, Floraville and The Rise.
On the other hand, The Lian Beng Group is one of Singapore’s leading contractors for residential construction groups and has maintained its place on the Main Board of the Singapore Exchange since 1999. With its status as an A1 grade contractor, it can handle projects of unlimited contract value while its A2 grade in civil engineering allows it to work on projects having a value of up to $85 million.
With projects like Rafflesia Condominium at Bishan Street 21, 4 units of 2-Storey Terrace Houses at Clementi Crescent, Chinese Temple at Jurong East Avenue 1, Housing Development at 109A Emerald Hill Road, Condominium Housing Development at West Coast Crescent and many more like these under their belt, it is definitely assured that the Lian Beng Group as an established builder, will construct quality development of Riverfront Residences.
Riverfront Residences @ Hougang Avenue 7 is located ideally as Hougang was announced to be developed as a new town, it is one of the first areas in Singapore to be developed according to the new residential plans.
Hougang is being planned according to new rules, the most prominent of which, is that like old residential areas, the shops and shopping plazas will all be centrally located in one spot, instead of being scattered around the city. This will give families a chance of being more socially involved with other families and members of the community.
The recent development around the area has given way to a new wave of food chains and shops to open up, like KFC, McDonald’s and many more. The easy access and centralisation of all these shops and plazas give the area a very lively atmosphere and attract more customers.
Riverfront Residences condominium is also located close to a lot of schools, which gives families an advantage of not having their kids travel a lot for their daily studies.
There is also good news for families looking to settle down near high standard schools. The lucky future residents of Riverfront Residences will have easy access to some of the schools like
- Xinmin Primary and Secondary Schools,
- Xinghua Primary School,
- Yuying Secondary School,
- Holy Innocents’ Primary School,
- Paya Lebar Methodist Girls’ School
- Montfort Junior School and Secondary School and Serangoon Junior College.
Apart from the proximity of these schools, this residential site also offers lots of food, entertainment and shopping options like the
- Hougang Mall,
- Heartland Mall, and Compass point.
All these shopping malls are less than 2 km away from Riverfront Residences Condo.
Another great feature of this site is the fact that it is closely located to the MRT stations like Hougang MRT, Buangkok MRT and Kovan MRT. Future residents will be able to travel with the convenient transport facilities around Riverfront Residences.
After enduring four years of decline, the property developers finally have some good news. The URA reported an increase of 0.5 percent in the private residential property. This is now attracting property dealers from all over the world. As you all may know, Singapore is an island and land will always remain a scarce commodity that’s why the prices of these properties are bound to increase in the long term.
HERE ARE A FEW REASONS WHY INVESTING IN RIVERFRONT RESIDENCES WOULD PROBABLY BE THE BEST DECISION YOU MADE FOR YOURSELF
Since Riverfront Residences new launch condos are currently under construction, it offers a great option for buyers who are still saving the money for the initial down payment. By facilitating buyers with a progressive payment schedule, instalments can be made every few months. These small instalments represent a much more accommodating and manageable mortgage. If you buy an investment property, you can easily find a tenant that will help you pay down the loan and mortgage. You will be buying the property at the best price if you get it directly from the developer.
After the purchase, you can resell the property at a higher price. This is great for young people who are looking to settle down in a good place. The great thing about Riverfront Residences new launch condominiums is that there is no asset depreciation. So, if you sell the condo just before its completion, you have a chance of acquiring a higher profit.
Buying a Riverfront Residences condo will prevent you from paying buyer’s commission because that will be paid by the developer. After each successful sale, the developer pays the agency which further pays the agents involved. The location of your condo will play a huge role in determining its value in the long run. You can also choose the unit you desire since Riverfront Residences is newly launched, but you will have to act fast because condominiums sell out pretty fast.
This is ideal for buyers who are very choosy and particular about what kind of home they want. You will have the opportunity of securing condos with better views which will eventually become very valuable on the open market. All you have to do is sign up and pre-register for the preview by contacting the developer’s marketing team members. To attract a lot of customers, property developers often offers many discounts and stamp duty reimbursements during the VIP and VVIP preview. All you have to do is choose your desired units, submit them with your cheque and leave the rest to the developer’s agent.
The developer’s marketing team will enlighten you regarding the all the particular details of the condominium such as the pricing, floor plan, etc. during this preview. The value of these condominiums automatically increases the moment the developer removes the early bird discounts. These discounts will be saving you a lot of trouble of negotiating with the seller as well.
Anyone who has invested so much in the property would want to be relieved from any further tensions and look forward to enjoying their latest purchase. You will receive Riverfront Residences in brand new condition and can renovate it according to your taste and needs. Not that you’ll need any renovation because everything will be brand new and you will not have to deal with additional maintenance work.
But in case you face any issues in the condo, you won’t have to spend extra money to get it fixed because the developer offers you a one-year warranty on fixtures and fittings. The plus point about this Riverfront Residences will that you add your personal touch to it as everything will be according to your choice, and you will not have to deal with the previous owner’s choices. The Riverfront Residences also offer much better facilities than any other resale property.
Investing in a Riverfront Residences newly launched condo does mean that you will have to wait to enjoy the luxury, but one thing that will help you get through it is that the wait and money are going to be worth every second and penny.