![](\"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/01\/lumina-grand-ec-executive-condo-singapore1-1.jpg?resize=740%2C370&ssl=1\")
\nLumina Grand EC and Hillhaven Preview Over the Weekend, RTS Link Singapore Achieves 65% Completion, and More9 to 15 January 2024
\nOver the weekend, City Developments Limited (CDL) opened Lumina Grand for e-applications, with sales booking set to start on 27 January 2024. Meanwhile, Far East and Sekisui House are set to launch Hillhaven, a 99-year leasehold condominium project at Hillview Rise, on Saturday (20 January 2024).
\n\u00a0
\n1. Lumina Grand EC opens for e-application, prices start from $1.338 million
\nCity Developments Limited (CDL) has opened Lumina Grand for e-applications on 12 January, with sales booking set to start on 27 January 2024.
\nThe first executive condominium (EC) project of the year, the 512-unit Lumina Grand is situated at the junction of Bukit Batok Road and Bukit Batok West Avenue 5, featuring 10 residential blocks of 12- to 13-storeys.
\nUnit sizes at the development range between 936 sq ft for a 3-bedroom and 1,496 sq ft for a 5-bedroom unit.
\nPrices, on the other hand, start from $1.338 million for a 3-bedder, $1.388 million for a 3-bedroom premium, $1.628 million for a 4-bedder and $2.098 million for a 5-bedder.
\n\u201cEligible first-time buyers will be entitled to a Central Provident Fund (CPF)\u00a0Housing Grant of up to $30,000,\u201d said CDL in a release.
\nThe project offers nearly 40 recreational facilities including a 50m lap pool, two clubhouses, a gymnasium, a tennis court, reading lounges and a kids\u2019 play zone.
\nDr Tan Tee Khoon, Country Manager \u2013 Singapore, PropertyGuru commented, \u201cBeing the only EC launch in 2024, this development would be welcomed by property seekers who wish to live near Tengah Town which is the \u2018new Bishan\u2019 of the west and the first car-free town centre.
\n\u201cBesides, nearby Copen Grand EC was fully sold in Oct 2022. Given the benefits of the housing grant, no upfront ABSD for current HDB flat lessees upgrading to EC and a deferred payment scheme, I expect Lumina Grand\u2019s sales applications to reflect the demand for it.\u201d
\n\u00a0
\n2. Far East, Sekisui House to launch Hillhaven condo on Saturday
\nFar East and Sekisui House are set to launch Hillhaven, a 99-year leasehold condominium project at Hillview Rise, on Saturday (20 January 2024), reported The Business Times. Unit prices will start from $1,907 per sq ft (PSF).
\nNestled on a 10,400 sq m site, the development features 341 units spread across two residential blocks of 27- and 28-storeys.
\nA 678 sq ft two-bedroom unit is priced from $1.37 million ($2,020 PSF), while three-bedroom units, ranging between 947 sq ft and 1,195 sq ft, are offered from $1.835 million ($1,938 PSF). Prices for four-bedroom units, spanning between 1,259 sq ft and 1,636 sq ft, start from $2.44 million ($1,938 PSF).
\nThe development saw more than 2,000 people visit its sales gallery during its first preview weekend, said Far East in a release.
\nIsmail Gafoor, Chief Executive Officer of PropNex, said Hillhaven is possibly the last new private residential site within the Hillview Avenue area that is close to the MRT station.
\nOn the potential sales performance of Hillhaven, Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions, PropertyGuru Group said, \u201cOur analysis of the 2023 sales data indicates a clear trend: projects situated close to MRT stations and nature reserves tend to perform exceptionally well in the market.
\n\u201cHillhaven, embodying both these attributes, is poised to attract discerning buyers who seek a blend of accessibility and exclusivity. Additionally, the area has experienced a noticeable uptick in asking prices, a positive trend likely influenced by the forthcoming developments in Tengah. This synergy of location, lifestyle appeal, and growth potential positions Hillhaven as an attractive option for both investors and homebuyers.\u201d
\n\u00a0
\n3. Johor Bahru-Singapore RTS Link achieves 65% construction milestone
\nThe Johor Bahru-Singapore Rapid Transit System (RTS) Link project has achieved another milestone, with about 65% of structural works completed on both the Singapore and Malaysia sides, reported CNA.
\nThe \u201cdrop-in span\u201d, which is a 17.1m reinforced concrete structure linking Singapore\u2019s Pier 48 and Malaysia\u2019s Pier 47 above sea level, has also been completed.
\nSingapore Prime Minister Lee Hsien Loong and Malaysia Prime Minister Anwar Ibrahim marked this milestone by signing commemorative plaques to symbolise their shared commitment to improve connectivity between the two countries.
\nSet to start passenger service by end-2026, the RTS Link aims to ease traffic congestion on the Causeway. The estimated cost of the project is RM10 billion ($2.87 billion), with Singapore covering 61% of the cost.
\nMeanwhile, the Land Transport Authority (LTA) revealed that all 12 pile caps within the Straits of Johor on the side of Singapore have been completed, forming a stable foundation for the piers supporting the rail viaduct structure.
\n\u00a0
\n\u00a0
\n4. Singaporeans buy residential units near Johor Bahru\u2019s RTS station
\nSome Singaporeans are purchasing residential units near the Rapid Transit System (RTS) Link in Johor Bahru as they anticipate improved access upon completion of the project, reported CNA.
\nAnalysts noted that home prices have been on the uptick in recent years, with those around the Bukit Chagar RTS station registering the highest demand.
\nThe RTS is seen as the big draw factor, with increased demand pushing property prices near the terminus to rise by 18% over the last two years.
\nDr Lee Nai Jia, expects property prices to grow by another 5% to 6% once the RTS is fully operational.
\nRental prices of apartments near the border have also doubled, encouraging Singapore buyer James Lim to acquire a 2-bedroom condominium.
\n\u201cWhen the RTS opens in two years, this property price will go up. The rental price will also definitely be quite attractive as compared to other places,\u201d he said.
\nRelated article:\u00a07 Woodlands Condos Near RTS Johor: Stay Near the RTS Link Singapore (2024)
\n\u00a0
\n5. Passport-free travel between Singapore, Johor a \u2018game-changer\u2019
\nIndustry leaders have described the possibility of having passport-free travel between Singapore and Johor as a \u201cgame-changer\u201d that could accelerate the creation of a special economic zone, reported CNA.
\nThis initiative includes the usage of a QR code system for border crossings and digitised processes for cargo clearance.
\nHowever, there is a need to define the geographical scope of the Johor-SIngapore Special Economic Zone (SEZ) \u2013 especially on the side of Malaysia. Notably, there have been conflicting reports on whether the scope of the SEZ in Malaysia will cover the entire Iskandar Malaysia region, just a part of it or the entire state of Johor.
\nMarket watchers noted that defining the scope of the SEZ is a \u201cfoundational parameter\u201d that will help investors decide on whether to deploy capital and capacity into the SEZ.
\nSingapore and Malaysia have signed a Memorandum of Understanding (MOU) which marks the first step towards a legally binding SEZ agreement.
\nIf properly implemented with political will in both countries, the SEZ can provide a win-win solution as well as boost the economies of Malaysia and Singapore, said Tan Wee Tiam, KGV International\u2019s Head of Research and Investment Services.
\n\u00a0<\/p>\n