Piermont Grand Executive Condominium Updates
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.
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.
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.
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.
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
• 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.