Piermont Grand EC Project Information

Project NamePiermont Grand
Address of DevelopmentSumang Walk
Project DeveloperCDL Constellation Pte. Ltd. and TID Residential Pte. Ltd.
Tenure99 Years Leasehold Development
District19 / Punggol
Site Area291,126 sqft
Gross Floor Area873, 378 sqft
No of Blocks13
No of Storeys9 to 17
No of Units820 Residential Units
TOPTo Be Advised

Register Interest Here

(Direct Developer Sales Team)

Location of Piermont Grand

Piermont Grand Executive Condominium Updates

: Check out the latest site plan and floor plans here.

02-May-2019: Sumang Walk EC Launching for Sale soon by City Developments Limited

19-Apr-2019: The only Executive Condominium for sale in 2019.

18-Apr-2019: Owning a Waterfront facing Property for the privileged class.

Piermont Grand Executive Condominium CDL

Piermont Grand is a new executive condominium located right in the heart of Punggol by City Developments Limited. Piermont Grand Sumang Walk sits on the land parcel that is slated to be Singapore’s first Digital District and is located near to many transport options available around the Punggol area. It is the only EC that is launching in the year of 2019 and Piermont Grand EC Sumang Walk sits right next to My Waterway@Punggol and offers the opportunity for residents to own a EC unit in the landmark waterfront district with pleasant and unblock views. Piermont Grand Executive Condominium comes as a rare opportunity for buyers who are looking for a EC unit in the North East area as all EC units are presently taken up. A unique and serene lifestyle awaits you at Punggol Piermont Grand. The Sumang Walk EC will be located near to JTC Business Park in Punggol as well as The 5th University – Singapore Institute of Technology. There will be also a new MRT Station called Punggol Coast MRT Station which will reduce traveling time to any part of Singapore by 15 min.

Piermont Grand Actual Site in Punggol

Piermont Grand EC Sumang Walk Punggol

Piermont Grand EC has full and unique facilities, which includes a guard house, clubhouse, function room, indoor gym, tennis court, 50m swimming pool, sun deck, BBQ pits & children’s playground. The condo’s facilities provide full family entertainment needs for your family and loved ones. Indulge in a serene and tranquil lifestyle right in the heart of Punggol Piermont Grand location.

Piermont Grand CDL sites on a prime piece of EC land which represents a timely investment for CDL who is looking to replenish its land banks. Most of the EC launches recently have already been sold and Piermont Grand will present an opportunity for buyers who are looking for a new EC right in the heart of Punggol. Piermont Grand Executive Condo is the latest project with TID Residential that is a collaboration with Hong Leong Holdings and Mitsui Fudosan.

Piermont Grand City Developments Limited CDL

Piermont Grand EC is also strategically located with many shopping centres located around in the vicinity. For example, the popular Waterway Point, Punggol Plaza as well as Compass One are located near to Piermont Grand Sumang Walk. Piermont Grand EC is also located near to My Waterway @ Punggol where plenty of outdoor families are available for residents to spend some quality time with their family.

Piermont Grand will be accessible with Sumang LRT Station as well as Punggol MRT Station. Also, for owners who are taking buses, there are several buses available along Punggol Way and Punggol Centreal. For owners who are traveling to the city, Piermont Grand is located right next to Tampines Expressway ()TPE.

Piermont Grand Punggol EC is also near elite schools such as Punggol Green Primary School, Edgefield Secondary School, Oasis Primary School and Mee Toh School.

Piermont Grand Actual Site Walkthrough

City Developments Limited Real Estate Developer

City Developments Limited abbreviated as CDL is one of the most reputed real estate development, management and investment companies in Singapore. The company has more than five hundred group companies and subsidiaries in 103 locations worldwide in 29 different countries. It is one of the largest companies listed on the Singapore stock exchange in terms of market capitalization and focuses on offering excellent returns to its investors and customer satisfaction. It has developed a large number of residential apartments, integrated complexes, offices, malls, service apartments and hotels worldwide which are sold or held as investments. The latest development will be Piermont Grand EC at Sumang Walk in District 19 Punggol.

History of City Developments Limited

The CDL group started its business more than 55 years ago as a Real Estate Developer in Singapore with the King’s Hotel, which is now renamed and a part of its Copthorne hotel chain, and Orchid Inn. Orchid inn has since been redeveloped into a residential project Glyndebourne. The CDL group has developed over 43,000 homes on more than 18 million square feet of land. It currently has a land bank of 4.1 million square feet worldwide, which can be used for its various residential and commercial construction projects including the latest Piermont Grand Sumang Walk. It also has many assets under its management, and is planning to have $5 billion in assets under management by the year 2023.

Projects by City Developments Limited

Since its initial construction project, CDL has grown and diversified rapidly both regionally and worldwide with projects such as private developments and executive condominiums such as Piermont Grand Punggol. The hospitality group company of CDL, the Millennium and Copthorne Hotels Private limited company (PLC) is the largest hotel chain in Singapore and is also considered one of the largest hotel chains in the world. It owns and manages a large number of hotels all over the world. The group has won a large number of construction, environment and other awards in recognition of its ability to built and maintain some of the most iconic hotels, offices and homes with the latest technologies.

In addition to the Singapore stock exchange, CDL also has seven listed group companies which are listed in the stock exchanges of other countries, like those in London, Philippines and New Zealand. It owns and manages hotels and other investment properties including Piermont Grand Punggol in Middle East, Australia, Asia, New Zealand,North America and Europe, to generate high returns on investment and steady income for its investors. CDL strongly believes in its corporate social responsibility and works closely to help others in the community. The companies has a proven track record of providing the best possible deal for all its stakeholders including investors, customers, employees, business associates, and the community.

Hong Leong Group Real Estate Developer

Hong Leong Group (HLG) was founded in 1941 by Kwek Hong Png in Singapore and is one of the largest companies in Singapore with a track record of stability and rapid growth. Hong Leong Holdings Limited (HLHL) is the property investment and development arm of the group, which was formed in the year 1968. It is one of the largest companies in the real estate sector in Singapore and has developed a reputation for constructing quality and affordable residence. It has developed 8 commercial properties and more than 100 residential properties with Piermont Grand Executive Condominium. It has constructed both mid priced and high end residential properties and Piermont Grand is located at Sumang Walk near to Sumang MRT Station.

Business Development Division of Hong Leong Group

HLHL has different divisions to manage its activities. The business development division looks for new opportunities worldwide and focuses on the best options available. As there has been a shortage of ECs available, plans are underway to develop Piermont Grand Punggol at Sumang Walk. The design and project development section looks after the planning of the many projects of the group ensuring that they are properly designed, collaborating with others to complete the projects. The marketing and sales division is looking after the leasing and sales of the commercial and residential properties developed by the group, ensuring that the revenues are rising. The Human resources division of the group attracts, retains and develops the best available talent, to boost productivity and profits.

The properties of HLHL are managed by a group company , Kingston Property Management Services Private limited (KPMS) with their latest project Piermont Grand Executive Condominium. This company looks after the electrical/mechanical maintenance, security, car parking management and fire safety. It is a registered contractor with the Building and construction authority. Though legal, finance and accounting services are back end services they play an important role in the success of a business, and KPMS also ensures that the HLHL conforms to all the legal and financial regulatory requirements.

Divisions in Hong Leong Group

HLG is one of the largest business groups in Singapore with companies in Asia Pacific, Europe and Netherlands and their latest project Piermont Grand Punggol Executive Condominium puts a fine addition to the portfolio. It has mainly five different divisions which are dealing with real estate,financial services, hotels,trade and industry and ebusiness. Its group company CDL and along with HLG is the largest private holder of residential land in Singapore which can be developed later, is the largest developer of residential properties and the biggest landlord for commercial properties in Singapore’s central business district. The Millenium and Copthorne Hotels division of the group is listed in the London stock exchange, owns and manages 114 hotels in 18 different countries with a total of 29000 rooms. Hong Leong Finance is the largest finance group in Singapore and is developing new financial products for its customers. The bid for Piermont Grand site indicates that developers are still upbeat for EC Land as there were a total of 17 bids for the plot of land located at Sumang walk. Piermont Grand EC is a joint venture with TID Residential. The company that submitted the bid was CDL Constellation.

Punggol Waterway District

Punggol Waterway District located near to Piermont Grand is set to be the digital district in Singapore and there are plans by the Government to introduce more amenities to Punggol Town based on the latest draft Masterplan. The Masterplan is underway to introduce more amenities and cater to the housing aspirations of many who is looking to settle down in the North Eastern part of Singapore

One of the new plans for Punggol will be a new heritage trail built along Old Punggol Road near to Piermont Grand Location. This was once the main transportation highway for Punggol fishermen and farmers who were trading their produce from their hometown to Serangoon. Hence, it’s a very familiar route to the Punggol resident.

New Heritage Trail at Punggol Waterway

This heritage trail near to Piermont Grand locationis expected to have at least 10-metre green buffering zone on ether sides of the way. This has been done to preserve the rustic ambience, as well as the green tunnel impact and great terrain of the Old Punggol Rd as stated by the Housing Board The HDB has also promised reliable and easy access to retail, dining, and some recreational facilities in the Punggol Waterway through the public transport, cycling, walking, and, probably, autonomous buses and the high demand shuttles as the project continues near to Piermont Grand CDL EC.

Punggol Town Hub (PTH) at Punggol District

However, in addition, they will be housing projects which will be designed to allow all visitors and residents to have easy access and to fully enjoy the seafront with zero limitations. The hub will be integrated and combined with the existing Promenade using the parks and green spaces. The Punggol residents will enjoy and experience more by the year 2021 as the Punggol Town Hub(PTH) will be opening, a new feature which will feature have a library and hawker centre among other social amenities.

Punggol Town Hub will be managed and controlled by the (PA) People’s Association, is expected to bring close all programmes and services offered bt the various agencies. The additional facilities in Punggol will bring in more conveniences and choices

Therefore, Punggol Residents can look forward to having a new public library, hawker centre, a good Punggol Vista CC that will be around seven times larger the size compared to void deck CC. Also, residents should expect health services centres and childcare centres at PTH. This would mean more amenities for Piermont Grand owners.

The Punggol waterway 42,300 sqm great hub will be built just opposite Waterway Point, also next to upcoming Regional Sports Centre. The hub will be joined to the Punggol MRT, Sam Kee Station and Punggol Town Square. In order to promote good and healthy lifestyles to all, a cycling path has been set aside and is integrated with the major cycling paths of Punggol that passes by Piermont Grand location at Sumang Walk.

Piermont EC Site Plan and Floor Plans

Piermont EC site and floor plans will be available soon. There will be different layouts to cater to different family sizes. Please do keep a lookout here for the latest site and floor plans.

Different Payment Schemes Available

There will be different payment schemes that are available for the Sumang Walk EC that caters to different buyers. One of them is the normal payment scheme which payment starts based on the construction of the development. The other one is the deferred payment scheme which owners only start the installment when the development is completed. There will be CPF Housing Grants available for both options available.

  • Executive Condominiums are Rare and Attract Demands

    Executive Condominiums which is a private public housing hybrid is still highly sought after by investors. The reason is because there has not been a EC launched in Singapore for a long time and there is a backlog of buyers around in the Punggol area who are looking for an opportunity to invest in a good located EC in the Sumang Walk Punggol area. There are also many existing HDB owners who are looking to upgrade to private housing where there are more amenities available. Piermont Grand Executive Condo is located right in the heart of Punggol which is surrounded by existing HDB owners who are keen to sell off their HDB unit to move to Piermont Grand City Developments Limted.

  • Prices of Piermont Grand are Placed at a Discount

    All Singaporean who owns an executive Condominium enjoys the privilege of owning a full condo development facilities and at the same time enjoy private condo at discounted prices. Such executive condominiums always have at least around 20% to 30% discount when sold about their neighboring private condo, where the price tags always narrow down from MOP over time. This would mean the residents of Piermont Grand EC in the mature town of Punngol will get to enjoy capital gains over time.

    Imagine a neighbor purchasing an condominium having an average price ranging from $1,300to $1,400 per sqft whereas you have an entry price ranging from $1,000 psf, Piermont Grand EC CDL owners are in a perfect position of reaping fruits of the appreciation. Therefore, you should never miss out the amazing privilege cater from the Singaporean’s selected privileged class of owning a Executive Condominium.

  • Huge Potential to Appreciate When Piermont Grand is Privatized

    The executive condominiums are regulated under the HDB ruling which means that they are only allowed to be sold in an open market after the Minimum Occupational Period is attained. They have only one restriction which is to sell the condominiums to their foreigners since the restriction will be lifted 11 years from now henceforth. The capital appreciation of the property can be materialized immediately after the property can be transacted in an open market area in Singapore. Therefore, owners of Piermont Grand Punggol stands to gain equity through the selling of their development 2 times, when the Minimum Occupational Period (MOP) is attained as well as when it is fully privatized.

  • Additional CPF Housing Grants for Piermont Grand EC

    Piermont Grand project stays attractive to potential buyers who prefer condominium lifestyle which including having a private gym, the swimming pool, and the function room among others. What is more attractive is as Piermont Grand CDL is a EC, CPF Housing grants are also available up to $30,000 which its aim is helping the first-time homeowners be able to lower the purchasing cost in their first home. Such grants may be used in offsetting exercise fees of 15%. There are also some deferred payment schemes which are available if one needs to purchase Piermont Grand since it is not available in the private condominium market, which makes it an attractive and unique option for all the upgrades of HDBs from Singapore.

Strategic Location of Piermont Grand EC Near to Schools

Besides Piermont Grand strategic location near to public transport and shopping centers, Piermont Grand EC is located in the proximity of elite schools which adds more convenient to both children and parents when traveling to and from the school on the daily basis from Piermont Grand Punggol. Kids travel less time meaning they have adequate time to spend on education and doing homework after classes. Also, parents have sufficient time to do their work since they won’t go fetching children back home after classes.

Joint Venture TID Residential Mitsui Fudosan Co and CDL Constellation

A total of 17 bids were received for Piermont Grand site when it was first launched for tender which suggest that developers are on the viewpoint that there is a backlog of ready buyers who are looking for a EC in the Punggol location such as Sumang Walk. Piermont Grand was later awared to a joint venture between City Development Limited subsidiary CDL Constellation and TID Residential. TID Residential is a joint venture between Hong Leong Holdings and Mitsui Fudosan Co. Analysts note that Piermont Grand at Sumang Walk should be well received as there has been an absence of ECs for a long time. Piermont Grand CDL will be a signature waterfront development with full frontage views of My Waterway@Punggol that will be well received by first timer applicants. Piermont Grand Punggol EC will also be well received by 2nd timers who are Punggol HDB upgraders. ECs are a good investment for 1st timers as the price is low compared to other new launches as Executive Condominiums are reserved for 1st timers and HDB upgraders.

Piermont Grand Executive Condo near to Country Clubs in Punggol

Piermont Grand Punggol sits at the city center at Beach Road and boast of being located in the vicinity of elite schools such as Punggol Green Primary School, Punggol View Primary School, Edgefield Secondary School, Horizon Primary School and Edgefield Primary School among others. The available schools of various diversity near to Piermont Grand location offer convenient and reduce traveling time thus making kids perform better and become productive people in the community.

Piermont Grand Punggol is located near to various country clubs which offers affluent individuals a unique platform to meet and have fun as they build social contacts, network and business deals among other things. Some of the highly rated country clubs offering perfect and world-class avenues for gatherings include Raffles town, Singapore Town, The American, The Tanglin, Hollandse, Civil Service, Singapore Polo, as well as Singapore Recreations Clubs providing all facilities among them function room, Golf Course, F&B, swimming pools and many more.

Lower Debts Ratio & Higher Stamps Duty

The government has just introduced a cooling measure which has provoked properties investors to think of new assets classes such as commercial and retail mix developments. Particularly, 2nd properties stamp duty has been increased by 5% from 7% to the current 12%, meaning, the buyers who want to buy 2nd properties have to look at freehold and quantum properties might cost higher in the city center. Comparatively to the recent new launches around the area, Piermont Grand EC pricing of $1,100psf seems to be lower price compared to other developments. EC will be a good buy due to the rising residential market with new launches around $1,400psf around the area even though Piermont Grand land bid is set at record land prices.

Piermont Grand Executive Condominium for HDB Upgraders

Piermont Grand EC particularly, is a executive condominium and its quantum is lower and therefore the stamp duties is also lower for either a 1st or 2nd property. Another added advantage, Piermont Grand Executive Condo is also found a few meters away from numerous retail centers, offices, and readily available tenants base once it’s completed. Purchasing of Piermont Grand EC is also highly encouraged for HDB upgraders as there is ABSD Remission which would mean that buyers do not have to pay for the ABSD first while waiting for Piermont Grand to be completed.

Punggol Digital District World Class Centre

Singapore’s Smart Nation Push has seen the Punggol Digital District being its first project and this will benefit the residents of Piermont Grand as the Executive Condominium is located at the Punggol District in Punggol Walk. The Digital District is set to be a world class vibrant district inclusive of everything that a smart district has. In other words, we are looking at a district where technology and social innovation will transform how we live, work, learn and even play.

Being the first district to adopt this master plan, it is envisioned that the Punggol Digital District will include the following as part of the integrated approach:

• A university
• Business park
• Community facilities

Digital Economy Centre of Digital Growth for Punggol

In an attempt to create synergies near to Piermont Grand Punggol, foster a vibrant community and enable the close integration of both academia and industry, Punggol Digital District will be the centre of digital economy growth. It will also create job opportunities for residents of Punggol and the northeast region.

Punggol Digital District will also be an ecosystem for innovations and will provide a conducive environment for the same. This will enable both businesses and the community to grow in a digital economy and benefit Piermont Grand Executive Condominium Residents. Moreover, the Singapore Institute of Technology’s (SIT) new campus will be co-located with the district. Together with JTC’s business park buildings, there will be great facilitation of industry and academia collaboration. This is possible through the exchange of ideas and knowledge among the professional and students.

Business in Punggol Digital District

Businesses in the district will be able to test and adopt the new ideas conceived in SIT. This will, in turn, contribute to a high rate of commercialization success. Being the first enterprise district in Singapore, Punggol Digital District near to Piermont Grand location gives flexibility of land use that enables it to provide greater space. For example, we could have all the SIT research labs and learning facilities located inside JTC business park buildings. Or better yet, JTC could also have industry R&D facilities creating space within SIT’s buildings. Piermont Grand E-Application will be available soon. Please see more details on the Sales Gallery once the showflat opens for viewing and application online.

Apart from providing an inclusive green environment, the district will also include:

• A hawker center
• Childcare facilities
• Parks
• Community center
• Public Spaces

Enterprise District in Punggol

All these are aimed at ensuring that all the needs of the community are met including the residents of Piermont Grand. The project is also known as an “Enterprise District” and is so far been studied by the authorities to find out if the same model can be applied in other regions in future. What they are trying to envision is a whole lot of buildings being managed by a centralized system. The system will handle waste management, cooling and logistics for the whole district. With the Punggol Digitial District that is set to be near to Piermont Grand Executive Condominium at Sumang Walk, the development by City Developments Limited will be well received by the public.

Please see Piermont Grand EC CDL Site Plan and Floor Plans for more information with regards to Piermont Grand Sumang Walk EC.