AsiaOne : Two executive condos sites to launch

Two executive condos sites to launch

The sites at Sengkang and Yishun offer 900 units in total. -AsiaOne

Thu, Jan 14, 2010
AsiaOne

The Housing Development Board (HDB) is launching two Executive Condominium (EC) housing sites in Sengkang and Yishun tomorrow.

The two EC housing sites are Compassvale Bow at Sengkang and Yishun Avenue 11 and have a combined yield of about 900 units.

The tender for Compassvale Bow will close on Mar 4 and the tender for Yishun Avenue 11 will close on Mar 11.

Compassvale Bow is located near to Buangkok MRT station and is easily accessible from major expressways such as TPE and KPE. Grocery shopping facilities and eateries are a stone's throw away. Recreational choices such as Punggol Park and Sengkang Sports and Recreation Centre are within easy reach.

Yishun is well served by a comprehensive network of roads and expressways such as Yishun Avenue 2 and SLE. Yishun and Khatib MRT stations and Yishun bus interchange are also within the vicinity. The site is also only a few minutes' walk from Yishun Park and is near to shopping and dining conveniences.

New EC units are sold with initial eligibility and ownership restrictions similar to public housing, and will be fully converted to private housing after 10 years.

ECs cater to families whose household incomes are above the $8,000 income eligibility criterion for new HDB flats, but earn below $10,000. Eligible first-timers who purchase new ECs can also apply for a $30,000 CPF housing grant.

As with other HDB launches, 95 per cent of flat supply will be set aside for for first-timers during the first month of sale. Second-timers buying new ECs do not need to pay any resale levy.

For enquiries, interested buyers can email to hdblandsales@hdb.gov.sg, call 6490 3037 or 6490 3446, fax to 6490 3005 or access HDB's enquiry form at www.hdb.gov.sg/hdblandsales.