Carpark shortage at Nex mall in Serangoon Central
By Lip Kwok Wai | Posted: 02 December 2010 2114 hrs
SINGAPORE : The latest mall in Singapore, the Nex in Serangoon Central, is packing in the crowds.
But those driving to mall are complaining there are not enough carpark lots.
The mall claims it is attracting 70,000 customers daily since it opened last week.
Shopowners are happy, with business exceeding targets. But outside the mall, shoppers are complaining of high traffic volume and tailgating cars right to the main roads.
They said the mall's 450 lots are just not enough and a nearby multi-storey carpark is almost always full.
Residents said they worry that the situation could get worse with year-end festivities.
The mall said it will double the number of carpark wardens to direct traffic and also hold a dialogue with residents.
It also said the jams are temporary.
Michael Leong, managing director of Guthrie Properties, said: "We are opening the mall during Christmas and the festive season, school holidays and it is new. It is what we call an artificial period. The carpark has been designed for a stabilised period. That means that post-Chinese New Year, the traffic will stabilise, the mall will stabilise."
Mr Leong also attributed the jams to motorists being unfamiliar with the carpark configuration.
He said: "A lot of them are in the driveway, waiting for lots to be freed so that they can park there. In the process, you get a tailback all the way to the road."
- CNA/ms
- wong chee tat :)
Friday, December 3, 2010
Prive EC project in Punggol attracts strong turnout at launch
Prive EC project in Punggol attracts strong turnout at launch
By Joanne Chan | Posted: 03 December 2010 1945 hrs
SINGAPORE : Singapore's latest executive condominium (EC) saw a strong turnout of potential home buyers on the first day of its launch.
Market watchers predict the Prive will be popular because of the renewed interest in this type of housing.
Executive condos are a hybrid of private and public housing which made a comeback this year after a five-year hiatus.
Located near Punggol MRT station, Prive is priced at $660 to $690 per square foot(psf).
Jointly developed by NTUC Choice Homes and CEL Development, it offers 680 two to four-bedroom units.
Available to those with a maximum household income of $10,000, executive condos offer more choices for home buyers who are often known as the "sandwiched class".
These people are not eligible for new flats due to an income limit of $8,000, but find private housing too expensive.
Analyst Nicholas Mak said Prive is a more affordable option compared to a mass market condo in Punggol, which can go for between $800 and $900 psf.
He added that executive condos plug a gap in the market, as the price difference between resale flats and condos continue to widen.
Another draw - a deferred payment scheme to make it more affordable for home buyers, especially first-timers.
Margaret Goh, CEO, NTUC Choice Homes, said: "They have less cash, so this will help them. They also have priorities, for example, they are making their wedding preparations, they will need cash for renovations."
Potential home buyers Channel NewsAsia spoke to found the location and pricing attractive.
"With all the facilities at a competitive price as compared to private property, we decided to try," said one potential home buyer.
"Punggol 21 is a very nice place, especially the waterway," said another.
Prive is the third EC project launched this year.
The Esparina, launched in October, sold 425 of its 573 units within the month.
The Canopy, also launched in October, sold 104 of its 406 units within the month.
- CNA/ch
- wong chee tat :)
By Joanne Chan | Posted: 03 December 2010 1945 hrs
SINGAPORE : Singapore's latest executive condominium (EC) saw a strong turnout of potential home buyers on the first day of its launch.
Market watchers predict the Prive will be popular because of the renewed interest in this type of housing.
Executive condos are a hybrid of private and public housing which made a comeback this year after a five-year hiatus.
Located near Punggol MRT station, Prive is priced at $660 to $690 per square foot(psf).
Jointly developed by NTUC Choice Homes and CEL Development, it offers 680 two to four-bedroom units.
Available to those with a maximum household income of $10,000, executive condos offer more choices for home buyers who are often known as the "sandwiched class".
These people are not eligible for new flats due to an income limit of $8,000, but find private housing too expensive.
Analyst Nicholas Mak said Prive is a more affordable option compared to a mass market condo in Punggol, which can go for between $800 and $900 psf.
He added that executive condos plug a gap in the market, as the price difference between resale flats and condos continue to widen.
Another draw - a deferred payment scheme to make it more affordable for home buyers, especially first-timers.
Margaret Goh, CEO, NTUC Choice Homes, said: "They have less cash, so this will help them. They also have priorities, for example, they are making their wedding preparations, they will need cash for renovations."
Potential home buyers Channel NewsAsia spoke to found the location and pricing attractive.
"With all the facilities at a competitive price as compared to private property, we decided to try," said one potential home buyer.
"Punggol 21 is a very nice place, especially the waterway," said another.
Prive is the third EC project launched this year.
The Esparina, launched in October, sold 425 of its 573 units within the month.
The Canopy, also launched in October, sold 104 of its 406 units within the month.
- CNA/ch
- wong chee tat :)
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