{"id":62396,"date":"2017-08-01T05:00:30","date_gmt":"2017-07-31T22:00:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-targeting-august-launch-for-kandis-residence\/"},"modified":"2017-08-01T05:09:00","modified_gmt":"2017-07-31T22:09:00","slug":"tuan-sing-targeting-august-launch-for-kandis-residence","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-targeting-august-launch-for-kandis-residence\/","title":{"rendered":"Tuan Sing targeting August launch for Kandis Residence"},"content":{"rendered":"


\nArtist\u2019s impression of Kandis Residence in Sembawang. (Source: Tuan Sing Holdings)
\nSingapore-listed Tuan Sing Holdings is targeting to launch Kandis Residence in Sembawang as early as this month, PropertyGuru understands.
\nThe 130-unit condominium at Kandis Link will comprise four low-rise blocks. Conceptualised by award-winning architectural firm Ong & Ong, the project is designed to look like \u201chomes in the woods\u201d due to its location next to a forested area.
\nThere will be a range of one- to three-bedroom apartments from 485 sq ft to 1,034 sq ft. Around 65 percent are the two-bedroom type, while some higher floor units will offer sea views.
\nScheduled for completion in 2021, the 99-year leasehold project has an indicative average price of $1,250 psf.
\nTuan Sing beat out eight other developers with a top bid of $51.07 million for the 75,851 sq ft site in a Government Land Sales exercise in April 2016. This works out to a land rate of $481 psf per plot ratio.
\nSEE ALSO: Tuan Sing subsidiary awarded Sembawang site
\n\u201cPricing is expected to be attractive, given the relatively low land cost,\u201d said Wong Xian Yang, Head of Research & Consultancy at OrangeTee. \u201cAttractive pricing, coupled with a limited supply of units could see demand surprise on the upside for Kandis Residence.\u201d
\nIn addition, this is the first non-landed project to be developed in the landed enclave, he noted.
\nHe believes that buyers who are looking to stay away from the hustle and bustle of city life will find the project attractive. \u201cDemand is likely to come mainly from owner-occupiers rather than investors due to its non-central location,\u201d said Wong. \u00a0
\nSituated close to the Sembawang and upcoming Canberra MRT stations on the North-South Line, nearby amenities include shops and eateries at Sun Plaza and Sembawang Shopping Centre. New roads and future development will also transform the area.
\nIn an SGX filing last week, Tuan Sing said its three other projects \u2013 Seletar Park Residence, Sennett Residence and Cluny Park Residence \u2013 have been completed and substantially sold.
\nMeanwhile, the purchase of a freehold vacant lot at No.1 Jalan Remaja in the Hillview area was completed in June. The group aims to develop the site into a new condo of about 100 units, and plans to launch it in Q2 2018.
\nTuan Sing\u2019s net profit for the first half of 2017 fell 51 percent to $7.2 million, from $14.7 million a year ago. Group revenue also dropped 25 percent to $158.9 million, compared to $212 million last year.
\nThe group stated that its lower revenue and profit were due to the decrease in sales of residential projects. \u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tuan Sing targeting August launch for Kandis Residence<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of Kandis Residence in Sembawang. (Source: Tuan Sing Holdings) Singapore-listed Tuan Sing Holdings...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-62396","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-geo","jetpack-related-posts":[{"id":53169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/","url_meta":{"origin":62396,"position":0},"title":"Tuan Sing net profit fell 44% in Q1","date":"April 28, 2017","format":false,"excerpt":"\r Tuan Sing\u2019s gross revenue declined by 29 percent year-on-year to S$74.8 million in the first quarter of 2017, while net profit slumped 44 percent to S$5.4 million as it has sold most of the units at its residential projects completed in 2016, revealed an SGX filing on Thursday, 27\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eye-on-sembawang-a-place-by-the-sea\/","url_meta":{"origin":62396,"position":1},"title":"Eye on Sembawang: A place by the sea","date":"August 24, 2017","format":false,"excerpt":"\r View of a tranquil river behind Sembawang Road. 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By Joanne Poh In many neighbourhoods across Singapore, generations-old\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/08\/Did-You-Know.jpg?fit=305%2C558&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":51779,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-acquires-freehold-site-in-hillview\/","url_meta":{"origin":62396,"position":2},"title":"Tuan Sing acquires freehold site in Hillview","date":"April 13, 2017","format":false,"excerpt":"\r Located close to the Hillview MRT station, the site is expected to yield 100 residential units.\u00a0 Tuan Sing Holdings plans to develop 100 homes on a 43,557 sq ft freehold site in the Hillview area that it is in the process of acquiring for $47.8 million in cash, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59054,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/e-applications-open-this-wednesday-for-hundred-palms-residences-ec\/","url_meta":{"origin":62396,"position":3},"title":"E-applications open this Wednesday for Hundred Palms Residences EC","date":"June 27, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Hundred Palms Residences at Yio Chu Kang Road. The executive condominium (EC) market is set to stir back to life with the launch of Hundred Palms Residences at Yio Chu Kang Road. E-applications open this Wednesday and run until 10 July, while sales bookings start on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110036,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-names-new-independent-director\/","url_meta":{"origin":62396,"position":4},"title":"Tuan Sing names new independent director","date":"August 20, 2019","format":false,"excerpt":"\r Richard Eu Yee Ming has been appointed as the new independent director of Tuan Sing Holdings Limited, joining three other independent directors on the group\u2019s board of directors \u2013 Albert Choo Teow Huat, Neo Ban Chuan and Cheng Hong Kok. 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