Parktown Residence Review: Tampines North Integrated Development A Good Choice?

Why Invest in Parktown Residence

• Reputable Developers: Backed by UOL, CapitaLand, and SingLand, renowned for their quality, innovative, and sustainable projects.
• Favourable Location: Favourably located next to the Tampines North MRT station, it offers residents easy access to many parts of Singapore.
• A Mixed Development: Convenient living combining residential and commercial developments, a bus interchange, a community club, and a hawker centre.
• Vibrant Retail Scene: Integrated with Parktown Mall featuring an array of retail, dining, and lifestyle options.
• Seamless Transportation: Integrated with a bus interchange and directly linked to Tampines North MRT (Cross Island Line) for convenient commuting.
• Sustainable Living: Eco-friendly design with energy-efficient appliances and green building technologies.
• Wide Range of Unit Types: Caters to various lifestyles from young professionals and couples to extended families.
• Comprehensive Facilities: A comprehensive range of facilities catering to residents of all ages.
• Outdoor Recreation: Proximity to nature parks and leisure spaces offers a green living environment and encourages outdoor activities.
• Proximity to Educational Institutions: Close to reputable schools and educational facilities.

Who are the Developers of Parktown Residence?

Parktown Residence will be developed by a 50-50 joint venture by UOL-SingLand consortium and CapitaLand Development.

All three are renowned property developers in Singapore, with each bringing extensive experience and solid track records of successful developments.

UOL Group: With over 50 years in the industry, UOL is known for its commitment to architectural excellence and sustainability. Their portfolio includes award-winning projects such as Meyer Blue, Pineree Hill, and Watergardens at Canberra.

Singapore Land: Formerly known as United Industrial Corporation (UIC), SingLand has a rich history in real estate development. Their projects include Watten House and Amo Residence.

CapitaLand: As part of one of Asia's largest real estate groups, CapitaLand Development specializes in integrated developments that blend residential, commercial, and retail spaces. Their notable projects include Canninghill Piers and J’Den.

What are the Prices for Parktown Residence?

The prices for Parktown Residence are not available yet. However, based on its land cost, recent new launches in the OCR, and factoring in the rarity of integrated developments in popular housing estates, its average launch price is estimated to be around $2,200 psf.

On 27 June 2023, the consortium between UOL Group, Singapore Land (SingLand)and CapitaLand Development submitted a top bid of $1.206 billion for the Parktown Residence site. This translates to a land rate of $885 psf per plot ratio (psf ppr).

As integrated developments usually command a price premium of 10-20% over standalone condo developments, Parktown Residence is expected to be pricier than the recently launched Norwood Grand at Woodlands and Kassia at Flora Drive. These two developments were sold at an average price of $2,067 psf (20 October 2024) and $2,010 psf (21 July 2024) respectively.

Where is Parktown Residence Located?

Parktown Residence Location

Located along Tampines Avenue 11 in Singapore's District 18, Parktown Residence will be directly linked to a bus interchange and Tampines North MRT station on the Cross Island Line.

Tampines North is expected to be developed into a lively, green, and family-friendly housing precinct. Surrounded by lush parks, gardens, and cycling paths, it offers ample recreational spaces that promote an active and healthy lifestyle.

With a new bus interchange and MRT station right at its doorstep, residents will relish easy access to a variety of shopping options and nearby nature parks. This convenience also makes the daily commute to work and school much more manageable, resulting in a better quality of life.

It is also located near Tenet EC that was launched in December 2022. The executive condo development has been fully sold at an average price of $1,532 psf. Next to it will be Aurelle of Tampines, another executive condo, expected to be launched in Q1 2025.

Parks, Nature, and Recreation Options

Besides Tampines Boulevard Park, Tampines Regional Centre is also home to several nature parks, providing residents and visitors a variety of interesting outdoor activities while encouraging a more active lifestyle.

Tampines Boulevard Park – A newly opened neighbourhood park spanning 4.78ha, it offers thoughtful features designed such as the nature-inspired playgarden, where a playful dragon-head slide, climbing ropes, and raised platforms provide plenty of adventure. There's also a sand play area, complete with swings, a rock climbing wall, and even a mini manual excavator - perfect for little ones who love digging and building.

Tampines Eco Green – Connected to Boulevard, it offers a diverse ecosystem of grasslands, wetlands, and rainforests. Visitors can enjoy peaceful walks, birdwatching, and exploring the park's rich biodiversity.

Sun Plaza Park - Near Tampines bus interchange, it is a lively community spot with textured walls, talking tubes, musical chimes, and an organic texture walk. Its amphitheatre hosts outdoor concerts, art exhibitions, and performances, drawing residents together for social and cultural events.

Tampines Quarry Park – An old quarry, it offers a blend of nature and history, with hiking trails and scenic views. Visitors can enjoy activities like hiking, birdwatching, picnicking, and fishing.

Besides the above, other major parks located just outside Tampines include Bedok Reservoir Park and Pasir Ris Park. Together, they offer a plethora of interesting outdoor recreation for a fun day out with families and friends.

Downtown East

Downtown East (Wild Wild Wet)

Downtown East is a vibrant popular recreation and entertainment destination for visitors of all ages. It is just one MRT station away when Phase 1 of the Cross Island becomes operational in 2030.

Located at Pasir Ris, it offers a multitude of attractions that promise a fun-filled day for everyone. Dive into the thrilling rides at Wild Wild Wet, one of Singapore's largest water parks, where the excitement is boundless.

Explore E!Avenue, a lively space teeming with retail shops, diverse dining options, and entertainment venues that cater to different needs.

Bowling enthusiasts can challenge their friends at Orchid Bowl, while movie lovers can catch the latest films at Cathay Cineplex.

With its extensive activities, delicious food, and unique shopping experiences, Downtown East offers a fun-filled day out with family and friends.

Transport Connectivity

Parktown Residents will enjoy excellent public transportation services as the development will be directly connected to the Tampines North Bus Interchange and MRT station.

This will provide them with convenient and swift commutes to various parts of Singapore and the neighbouring housing estates For example, Pasir Ris and Tampines Central are just one to two MRT stations away.

With public buses at its doorstep, visiting neighbouring estates and places like the Tampines Retail Hub nearby, known for its three mega flagship stores – IKEA, Giant Hypermarket, and Courts Megastore – will be a breeze.

Major Expressways Near Parktown Residence

Parktown Residence residents will also enjoy easy access to major expressways. The nearby Tampines Expressway (TPE) and Pan Island Expressway (PIE) allow those with private transport to travel around Singapore much faster.

For example, driving to the Punggol Digital District or Changi Airport only takes 11 to 12 minutes. The convenient access to these major employment hubs will enhance daily living and the property’s value.

Shopping Malls Near Parktown Residence

With direct access to the Parktown Mall within the development, residents will enjoy convenient access to various retail and dining options, as well as everyday essentials.

Further afield, the Tampines Retail Hub and Tampines Central are popular shopping, leisure and entertainment destinations for residents living in the estate and those around it such as Pasir Ris and Simei.

Tampines Retail Hub – Home to major retail giants like IKEA, Giant Hypermarket, and Courts Megastore, it offers a varied shopping experience for families and individuals alike. Visitors can shop for groceries, household essentials, and electronic gadgets in one location. The hub also features various dining options, making it a complete destination for shopping and leisure.

Tampines Central Malls: Comprising the Tampines Mall, Century Square, Tampines 1, and Our Tampines Hub, they offer residents a vibrant mix of retail, dining, and entertainment options. The Our Tampines Hub also houses a community centre featuring sports facilities, a library, and event spaces alongside retail and food outlets.

Together, these malls create a bustling destination where residents can enjoy everything from grocery shopping and casual dining to fitness activities and cultural events, all conveniently concentrated in one area.

Educational Institutions Near Parktown Residence

Families with school-age children will benefit from several reputable educational institutions near Parktown Residence. For families with young children entering Primary 1, several schools are located within a 1-2km radius of the development. This will afford them priority admission due to the Ministry of Education’s allocation system.

Post-Primary Educational Institutions

Several secondary schools and post-secondary educational institutions are within a 6 to 11-minute drive from Parktown Residence. These include:

• St. Hilda’s Secondary School
• Junyuan Secondary School
• Tampines Secondary School
• Dunman Secondary
• Pasir Ris Secondary
• Temasek Junior College
• Tampines Meridian Junior College
• Temasek Polytechnic.

The nearest tertiary institutions are the Singapore University of Technology and Design (SUTD) and Singapore Institute of Technology (SIT), an 11 to 14 minutes drive away.

International Schools

Parktown Residences benefits from the proximity to the United World College of Southeast Asia (East Campus), a reputable international school just a 4-minute drive away.

Offering a rigorous international curriculum that fosters a diverse and intellectually stimulating learning environment, its presence enhances the overall educational landscape of the area.

Hence, Parktown Residence is an attractive option for expatriate families seeking a quality international education for their children without having to travel far.

For property investors, they will enjoy an enlarged tenant pool.

Investment Prospect of Parktown Residence

Parktown Residence offers an attractive investment opportunity due to the scarcity of integrated developments that connect directly to a bus interchange and an MRT station.

Hence, it is expected to attract strong interest from homebuyers and investors who appreciate the convenience.

The development's proximity to essential amenities and nearby parks, offering a green living environment, further enhances its appeal. As Tampines North transforms into a dynamic new township, Parktown Residence presents a first-mover advantage for property investors.

The investment potential of Tampines North is not lost on property developers. On 19 September 2024, a joint venture between Hoi Hup Realty and Sunway Developments secured a 252,989 sq ft mixed-use site at Tampines Street 94 with a bid of S$668.3 million. This equates to a land rate of $1,004 per square foot per plot ratio (psf ppr), surpassing Parktown Residence's $885 psf ppr.

Notably, though within walking distance of Tampines West MRT station, it lacks the direct connections of Parktown Residence. Moreover, it is a smaller development yielding approximately 585 new homes and 10,500 sq m of commercial space.

Therefore, Parktown Residence offers a compelling choice for those seeking a property in the East that combines convenience, integrated amenities, and future growth potential.

Comparative Market Analysis

Nevertheless, let’s evaluate Parktown Residence’s investment prospects by undertaking a comparative market analysis between mixed developments against standalone condo developments in different areas of Singapore.

The following developments (with integrated developments listed first) were chosen based on their proximity to each other and the closeness of their launch dates (ie, the closest that can be found).

• Bedok Residences vs The Glade (Chart 1: Bedok)
• Sengkang Grand Residences vs Parc Botannia (Chart 2: Sengkang)
• Watertown vs Flo Residence (Chart 3: Punggol)
• North Park Residences vs Symphony Suites (Chart 4: Yishun)