MCL Land, CSC Land launch Clementi condo Elta at prices starting from about S$2,200 psf

businesstimes

02-05

MCL Land and CSC Land Group will start previews for their Clementi project Elta on Friday (Feb 7), at prices starting at S$1.16 million for one-bedroom units. Located in Clementi Avenue 1, the 99-...

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while three-bedroom units of 926 to 1,023 sq ft, start from S$2.2 million (S$2,373 psf); and four bedders, sized from 1,184 to 1,507 sq ft, start from S$2.8 million (S$2,363 psf).The largest five-bedroom units are priced from S$3.89 million for 1,776 sq ft units (S$2,189 psf).The 144,788 sq ft site was acquired in a state tender in November 2023 for nearly S$633.45 million, or S$1,250 psf per plot ratio, the highest bid among six bidders vying for the plot. Tuesday, 12 pmGet an exclusive analysis of real estate and property news in Singapore and beyond.Hongkong Land-owned MCL Land has a 51 per cent share in the joint venture, with CSC Land Group, a subsidiary of China Construction (South Pacific) Development Co, holding the other 49 per cent.Sited in District 5, the project is within walking distance to Clementi Bus Interchange and Clementi MRT station, and close to schools and the National University of Singapore.Elta also stands near two other projects developed on government land sale sites along Clementi Ave 1. The 505-unit Clement Canopy, launched in 2017, and the 640-unit Clavon, marketed in 2020, are both built by the UOL group and are now fully sold. The most recent new launch in District 5 was Clavon, which sold 442 units or about 70 per cent of the project at its weekend launch in December 2020 at an average price of S$1,640 psf. Data from the Urban Redevelopment Authority (URA) Realis showed that the units sold at the 2020 launch were priced in the range of S$1,480 to S$1,850 psf.Subsale transactions for Clavon surfaced from 2023 at prices ranging from about S$1,800 to S$2,300 psf.Over the last six months, the median price for a condo unit in the resale market in District 5 is S$1,855 psf, according to data from URA’s Realis.Elta will start booking sales on Feb 22. The project is expected to be completed by 2028.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}