Artist’s impression of The Tapestry, a new project in Tampines. Source: CDL
Property developer City Developments Limited (CDL) is set to launch The Tapestry along Tampines Street 86 next Saturday (24 Mar).
Located close to Tampines MRT station and the newly-completed Our Tampines Hub, the 861-unit condominium has a range of one- to five-bedroom apartments from 441 sq ft to 1,991 sq ft.
The units are priced from $596,000 for a one-bedder to $2.1 million for a five-bedder dual-key with study apartment.
CDL group general manager Chia Ngiang Hong expects the project to receive a good take-up from home buyers and investors.
“Given The Tapestry’s location in the much sought-after mature Tampines estate, we have received very strong enquiries for this launch,” he said.
CDL previewed the project from 10 March and more than 5,000 people visited the showflat during the first weekend.
“Close proximity to major transportation nodes, popular schools, amenities, offices and business parks has fuelled demand for residences in this area,” said Chia.
Slated for completion in 2021, the 99-year leasehold project is sandwiched between two condominiums, The Santorini and The Alps Residences.
The Tapestry is the first major condo to launch following the Chinese New Year break, which is traditionally seen as a quiet period for home buying activity.
Meanwhile, the second phase of Park Place Residences at Paya Lebar Quarter is scheduled to start previewing on 24 March, while Rivercove Residences, the only executive condominium to launch in 2018, is slated to preview from 1 April.
“We can expect the primary market to pick up from next month as more property launches are on the cards,” said Christine Sun, head of research & consultancy at OrangeTee.
“The perception that the market is in the beginning of an upswing and the current en bloc frenzy could hasten buyers to secure a property now in anticipation of higher property prices.”
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