By Wong Siew Ying | POSTED: 19 Sep 2013 8:58 PM | CNA

SINGAPORE

An upcoming executive condominium (EC) project Waterwoods in Punggol will offer private lift lobbies for larger units – a feature more commonly associated with upscale apartments.

Its developer Sing Holdings said the project will also be the first to include maisonettes in the EC segment.

Waterwoods is Sing Holdings’ first foray into the executive condominium market and the builder of mid to high-end homes will be adding some exclusive features to the project.

For example, 48 five-bedroom units and maisonettes will come with private lift lobbies that lead right into the apartment.

They form nearly 13 per cent of the total number of 373 units at Waterwoods.

The sizes of these units range between 1,636 square feet and 1,701 square feet. Waterwoods has a wide selection of apartment types ranging from two-bedders to penthouses.

EC developers have been creative in introducing new features to attract buyers to their projects.

Citylife@Tampines had drawn flak last year for playing up on the “luxe appeal” by offering a mega ‘presidential suite’.

Sing Holdings said its private lift lobbies should see a more favourable response.

Sing Holdings Limited’s CEO Lee Sze Hao said: “I don’t think that will be a concern of being too over luxurious. This private lift lobby has always been offered to higher end projects but it is also a functional feature. It provides exclusiveness and privacy for the buyers and all it takes is another two square metres of space for the unit. Because of the additional space required, this feature will be offered to larger units.”

The developer said it has yet to price the units. Some property agents said based on recent transacted prices at EC projects around the area, like Ecopolitan and Lush Acres, the estimated selling price could range between S$780 and S$880 per square foot.

Potential buyers can register their interest for the project from September 27 to October 6.

Waterwoods will be the second last EC project to be launched for sale this year, the other being SkyPark Residences in Sembawang.

Nicholas Mak, executive director at SLP International Property Consultants, said: “In the first eight months of next year, there won’t be any new EC launches due to government regulations so there is a possibility that demand for EC could pent up.

“From next year August onwards, there will be about five new EC projects with a total of about 3,100 units that would come into the market in a very short span of time so competition during that period in the future is going to be fairly intense.”

The outlook for the EC segment appears bright with analysts expecting some upside in prices and strong demand for units.

– CNA/fa

http://www.channelnewsasia.com/news/business/singapore/upcoming-waterwoods-ec-to/819438.html