CDL to launch 861-unit Tampines condo next weekend

Romesh Navaratnarajah16 Mar 2018

The Tapestry crop

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.

More: Eye on Tampines: A family affair

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.”

Check out our project reviews in Tampines!

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

POST COMMENT

You may also like these articles

CDL unit submits top bid for Tampines site

The top bid of $370.1 million for the 99-year leasehold site works out to about $565 psf on the land. Source: URAThe tender for a 2.17ha residential site at Tampines Avenue 10 (Parcel C) closed ye

Continue Reading26 Apr 2017

CDL to benefit from property upcycle, calls for review of QC policy

CDL's Kwek said the property market appears to be getting stronger, but warned of dangers such as an upward spiral in land costs and housing prices.UPDATED: Property giant City Developments Limited (C

Continue Reading11 Aug 2017

Sumang Walk EC site attracts 17 bids

Map showing the location of the EC site at Sumang Walk. Source: HDBUPDATED: The tender exercise for an executive condominium (EC) site at Sumang Walk in Punggol closed on Tuesday (27 Feb) after attrac

Continue Reading28 Feb 2018