Piermont Grand Executive Condominium
Piermont Grand EC is the latest executive condominium (EC) that can be found in the North-Eastern part of Singapore, Punggol. The EC sits well between two LRT stations, Nibong LRT station and Sumang LRT station which allows residents to commute easily to other parts of the island.
On Dec 12, Tuesday, the Sumang Walk land parcel was launched for sale by public tender, under the confirmed list of land sites as part of the second-half of the Government Land Sales (GLS) Programme in 2017. The tender for the land site, along with two other residential sites located in Chong Kuo Road and Handy Road, launched by the Urban Redevelopment Authority (URA) in October and November last year respectively was closed on Jan 30, 2018. The 99-year leasehold land parcel received a lump sum of 17 bids in total which exceeded the record price in July 2013 for the last EC land for the Lake Life site located in Tao Ching Road found near Jurong Lake. The joint venture between City Developments Limited (CDL) Constellation and TID Residential Private Limited submitted a top bid of $509.37 million, $583 per square feet (psf) per plot ratio (ppr) which outbidded 16 other bids. The amount for this bid has said to have surpassed market expectations and is 64 percent higher than the last EC tender, Anchorvale Lane site which attracted a top bid of $355 psf ppr.
The aggressive bids by the developers is probably due to the lack of new EC land tenders for around one and a half years, taking note that the last EC land tender was in August 2016 for Rivercove Residences in Anchorvale Lane. While in Punggol, the last EC land parcel for tender was for the land site of The Terrace in July 2013. Furthermore, the Sumang Walk land parcel was the only EC site available under the Government Land Sales (GLS) for the entire of last year.
The land parcel has a site area of 291, 235 square feet (sq ft), a Gross Floor Area (GFA) of 873, 698 square feet (sq ft) including a plot ratio of 3.0. The development has a maximum building height of 64m to 70m above mean sea level and will consist of 13 blocks of 10 to 17 storeys, including an approximate number of 820 units and a basement carpark.
The soon-to-be completed condo is in the heart of Punggol, in between Punggol Way and Sumang Walk with two LRT station conveniently nearby, Sumang LRT and Nibong LRT. The easily accessible train stations, including the integrated transport system that allows those who take the public transport to move around conveniently. Notable expressways like Tampines Expressway (TPE) is also nearby the condo development for residents who have their own personal transport.
Putting aside the various mode of transport nearby, the condo development sits right beside My Waterway @ Punggol. With the renowned My Waterway @ Punggol nearby, residents can look forward to a multitude of amenities and services such as the established Waterway Point. The shopping mall boasts a wide range of stores from retail, entertainment, leisure to dining and many more. Additionally, development also offers a convenient place for residents to partake in recreational activities such as playing water sports or cycling on the available cycling tracks. It is also connected to several well-known parks like the Punggol Waterway Park and the Punggol Park which is perfect for recreational purposes. The list of recreational establishments does not stop there as there’s also the Safra Punggol Clubhouse that is awaiting its completion.
Besides the many amenities surrounding the area, the other amenity that is especially essential for the children would be educational institutions. At Sumang Walk Condo, residents with school-going children will be able to easily find a suitable school for their child to further their studies at. The range of schools include Compassvale Primary School, Greendale Primary School, Nan Chiau Primary School, Edgefield Secondary, Punggol Secondary and so on.