Special Feature: What’s exciting at Yishun Avenue 9 EC
By PropNex Research and editorial
It has been seven years since the government last awarded an Executive condominium (EC) site for development in Yishun. This was back in May 2014 for a plot in Yishun Street 51. Soon, a fresh EC project will be launched, this time in Yishun Avenue 9, right by the waterway.
The public land tender for the Yishun Avenue 9 EC site in 2020 garnered strong interest, attracting seven bids. The site is about 1.4 km from the Yishun MRT station and has the potential to yield 600 residential units. It was awarded to Sing Holdings in November 2020, after it placed the highest bid of $373.5 million, which works out to a land rate of $576 psf per plot ratio.
Expected to be launched for sale in 2022, the Yishun Avenue 9 North Gaia EC will likely appeal to many buyers, particularly HDB upgraders who are looking to trade up from public housing to a private residential property. Given the dearth of new EC supply in the area, this upcoming 99-year leasehold project should see a healthy take-up.
The upcoming EC project now known North Gaia is located within the established Yishun estate and future residents will be able to enjoy a wide selection of shopping, dining, entertainment options at nearby amenities. These include the mega Northpoint City, Yishun New Town, and Junction 9.
In particular, Northpoint City – the largest mall in northern Singapore – with two retail wings will offer plenty of F&B choices, fashion retailers, a supermarket as well as others stores to fulfil all the daily needs of residents. The Northpoint City development also features community spaces and the Yishun Integrated Transport Hub, with a bus interchange and the Yishun MRT station (on the North-South Line).
Retail therapy aside, there are lots of outdoor recreation facilities nearby to soothe weariness and to recharge the mind. North Gaia is located right beside the waterway leading to the Yishun Pond and the Park Connector Network (PCN), on the Northern Explorer Loop.
According to the National Parks Board, the Northern Explorer Loop spans 25 kilometres and connects 11 parks and nature sites, such as the Yishun Park, Woodlands Town Garden, Admiralty Park, Woodlands Waterfront, and Lower Seletar Reservoir Park. With the PCN, residents have an easy access to lush foliage, tranquil waters, a healthy lifestyle and fun-filled activities. Other leisure amenities in the area include the Orchid Country Club, the SAFRA Yishun Country Club, and the Sembawang Hot Spring.
Wellness and healthcare services are also not far away should the need arise, with the Khoo Teck Puat Hospital, Yishun Community Hospital, and Yishun Polyclinic all within a short drive from the North Gaia EC site.
The new North Gaia EC in Yishun Avenue 9 will be well-served by public transport. The nearby Yishun MRT station provides direct access to the Orchard Road shopping belt and the central business district in Raffles Place. It is also four stops from the Woodlands MRT station, which will become an interchange station for the upcoming Thomson-East Coast Line (TEL) - further improving connectivity to the eastern part of Singapore.
In addition, residents look set to benefit from the future 21.5-km long North-South Corridor (NSC). It has been dubbed the longest Transit Priority Corridor that will transform the way people travel between the Northern Region and the City. The long corridor will integrate various travel modes such as dedicated bus lanes, cycling routes, and pedestrian paths. The expressway is expected to be completed by 2026, and should help to cut commuting journey and boost connectivity.
The North Gaia Yishun Avenue 9 EC will be an ideal home for families with school-going kids, given its proximity to several schools. These include Chongfu School, Huamin Primary School, North View Primary School, Xishan Primary School, Northland Secondary School, Yishun Town Secondary School, and Yishun Junior College.
North Gaia is also near emerging growth areas, namely the Woodlands Regional Centre and the Seletar Aerospace Park which will offer more job opportunities closer to home. The Woodlands Regional Centre is earmarked as the largest economic hub in northern Singapore and the authorities plan to introduce new spaces for business, industry, and research and development in the area over the next 15 years.
Meanwhile, the Seletar Aerospace Park – which offers purpose-built land and infrastructure for the aerospace industry - plays an important role to supporting the country’s vision to become a global aviation hub.
These growth areas are key employment nodes which can potentially provide a healthy tenant pool for future residents who wish to lease their EC units out - after fulfilling the required minimum occupation period.
Property development and investment group, Sing Holdings was founded in 1964 and is currently listed on the Mainboard of the Singapore Exchange. The developer has extensive property development experience in Singapore, including projects such as Parc Botannia, The Laurals, Waterwoods, Robin Residences, and Meyer Residence.
Contact PropNex’s salespersons to register your interest in the project.