The Arcady Preview: 6th January 2024
This is a review of The Arcady condo at Boon Keng, Singapore’s District 12.
This freehold city-fringe condominium development, just 5 minutes walk from the Boon Keng MRT station, will occupy the former site of Euro Asia Apartments which was sold en bloc to a KSH Ultra Unity, a consortium comprising KSH Holdings Ltd (49%), H10 Holdings (36%), and SLB Developments (25%).
With a site area of 56,476 sq ft and a plot ratio of 2.8, it will yield 172 residential units ranging from 1-bedroom + Study to penthouses. For property investors looking for a freehold, exclusive, and mid-size development offering a short commute to Downtown Singapore, The Arcady condo may be worth serious consideration.
This property review seeks to offer an unbiased evaluation of the following:
- Why Invest in The Arcady Condo?
- Unit Mix
- Who are the Developers of The Arcady Condo?
- What are the Prices of The Arcady
- Where is The Arcady Located?
- Excellent Public Transport Connectivity
- Shopping Malls Near The Arcady
- Schools Near The Arcady
- The Arcady Review Conclusion
- Review of Other New Property Launches
Why Invest in The Arcady Condo?
- Centrally located in Boon Keng, a mature housing estate that offers convenient access to a plethora of amenities
- 7-8 minutes walk to the Bendemeer Market and Food Centre, and Bendemeer Shopping Mall
- 5 minutes walk to the Boon Keng MRT station on the North-East Line
- Direct access to Downtown Singapore such as Dhoby Ghaut (3 stations), Clarke Quay (4 stations) and Chinatown (5 stations)
- 1 and 3 MRT stations to Farrer Park (City Square Mall) and Serangoon Central (NEX) respectively
- About 3-4 minutes drive to Pan Island Expressway (PIE) and Central Expressway (CTE)
- Convenient access to schools
|Unit Type||No. of Units||Size (sq ft)|
|1-Bedroom + Study||11||527|
|2-Bedroom||38||667 - 678|
|2-Bedroom + Study||38||764|
|3-Bedroom||21||969 - 980|
|3-Bedroom Premium||31||1,087 - 1,195|
|3-Bedroom Premium + Study||21||1,281 - 1,496|
|4-Bedroom Premium + Study||9||1,410|
|Penthouse||2||2,433 - 2,583|
Click on the link for The Arcady floor Plans.
Who are the Developers of The Arcady Condo?
The Arcady will be developed by KSH Ultra Unity, a consortium comprising KSH Holdings Ltd (49%), H10 Holdings (36%), and SLB Developments (25%).
As the largest stakeholder, KSH Holdings will be the main driver for the development of The Arcady.
KSH Holdings is an established construction, property development and property management group with operations in Singapore, Malaysia and China. Incorporated in 1979, it has been listed on the Mainboard of the SGX-ST since 8 February 2007.
With a strong track record across a wide range of construction projects, it has won numerous awards for its excellence. These include several BCA Construction Excellence Awards for Fullerton Bay Hotel and NUS University Town's Education Resource Centre in 2013, Madison Residences in 2014, as well as Mount Alvernia Hospital in 2016, amongst others.
In 2019, KSH received the BCA Construction Excellence Award (Excellence) for NUS University Sports Centre and Construction Excellence Award (Merit) for Heartbeat@Bedok.
What are the Prices of The Arcady
The prices for The Arcady are not available yet. Please WhatsApp me for the latest project and pricing updates.
Nevertheless, based on the land cost, we can roughly estimate its average launch price.
The site for The Arcady was acquired through en bloc by KSH Ultra Unity in July 2022. Paying $222.18 million for the 56,476 sq ft site with a plot ratio of 2.8, this translates to a land rate of $1,313 psf per plot ratio, inclusive of bonus balcony area.
Hence, it is likely to be launched around $2,500 psf on average. This will compare favourably to recent new property launches such as Terra Hill and The Continuum, which are also freehold residential developments. They have been sold at average prices of $2,661 psf and $2,732 psf respectively.
Note: In the recent government land sales (GLS) tender for the 99-year leasehold Toa Payoh Lorong 1 site on 7 November 2023, the winning bid by a joint venture between property giants City Developments Ltd (CDL), Frasers Property, and Sekisui House translates to a land rate of $1,360 psf ppr. This is higher than the freehold Arcady's $1,313 psf ppr land cost!!!
Basically, it enjoys mostly unblocked views from the north-east to south-west facings which comprise mostly low-rise buildings and shophouses.
However, between its west and north facing are some high-rise HDB flats. Nevertheless, units on the upper floors of The Arcady should get relatively good open views.
Kallang Master Plan
Meanwhile, The Arcady can be expected to benefit from the Kallang master plan.
Currently, Kallang is well-served by commercial and community facilities but the area will be further rejuvenated with quality housing, including new waterfront developments, green spaces, waterbodies, and new leisure options for residents.
At the same time, the Kallang River, which is Singapore's longest and just 500m from The Arcady, will feature new waterfront homes with park-like environments for residents. Its riverbanks will be enhanced with new walkways and cycling routes, providing residents with more recreational options and improving connectivity between Bishan and the city.
All these exciting developments can be expected to boost property values in the surrounding areas.
Excellent Public Transport Connectivity
The Arcady condo is located just 6 minutes walk from the Boon Keng MRT station on the North-East Line. This will offer residents a direct route to Downtown Singapore such as Dhoby Ghaut, Clarke Quay, and Chinatown.
The Boon Keng MRT station is also just 2-3 stops from the following MRT interchanges:
- Little India (North-East/Downtown Line)
- Dhoby Ghaut (North-East/North-South/Circle Line)
- Serangoon (North-East/Circle Line)
These MRT interchanges will make travelling around Singapore a breeze.
In addition, the bus stop is just a 1-2 minute walk from The Arcady along Serangoon Road. However, this is a one-way street and if you are coming home from the opposite direction in Bendemeer Road (another one-way street), there will be a little bit more walking.
Nevertheless, this should not be a big issue as most would likely take the MRT if they are not driving.
Expressways Near The Arcady Condo
For those who own private transport, the Pan Island Expressway (PIE) Central Expressway are just 3-4 minutes drive from The Arcady. They will offer quick and convenient access to major regional centres in the north (Woodlands Regional Centre), east (Tampines Regional Centre & Changi Region), south (Greater Southern Waterfront), and the redeveloped Paya Lebar Airbase in the future.
In addition to the above-mentioned, The Arcady condo is also a short drive to key employment centres such as Paya Lebar Sub-regional Centre, Paya Ubi Industrial Park, and Kallang Basin Industrial Park, to name a few.
Hence, The Arcady could appeal to people working in these areas.
Shopping Malls Near The Arcady
There aren’t any major shopping malls near The Arcady. The nearest mall is the Bendemeer Shopping Mall about 8 minutes walk away. It is a neighbourhood mall that offers a wide range of goods and services.
It is a covered pedestrian mall, which shields shoppers from the sun and rain. One of the main attractions is the Bendemeer Market and Food Centre which sells a wide range of speciality food, vegetables, fresh fish and meat, and more.
Hence, residents of The Arcady can easily get fresh produce for home-cooked meals without having to stock up.
Major Shopping Centres Near The Arcady
As The Arcady is only a short walk to the Boon Keng MRT station, several shopping centres are just 1-3 stops away. These include:
- The Poiz Centre (Potong Pasir)
- Woodleigh Mall (Woodleigh)
- NEX (Serangoon)
- City Square Mall (Farrer Park)
- Plaza Singapura (Dhoby Ghaut)
Together, they provide residents with a plethora of retail, leisure, entertainment and dining options.
Other Amenities Near The Arcady
Besides shopping centres, some other amenities near The Arcady are:
- Kallang Community Club
- Kallang Polyclinic
- Kwong Wai Shiu Hospital
- Farrer Park Hospital
Besides the Kallang Polyclinic, Kwong Wai Shiu Hospital and Farrer Park Hospital, there are several other medical clinics scattered around the area, providing a choice of medical services for residents without having to travel far.
Schools Near The Arcady
For residents with school-going children, The Arcady has several of them nearby. For example, Bendemeer Primary School and Hong Wen School are just 2 minutes and 10 minutes walk away, respectively, while St Andrew’s Junior School is 4 minutes drive from the condo.
Besides the above, the other schools conveniently located around The Arcady are:
- Bendemeer Secondary School (8 minutes walk away)
- Kong Hwa School (12 minutes drive away)
- St. Andrew's Secondary School (4 minutes drive away)
- St. Andrew's Junior College (6 minutes drive away)
Given the relative lack of property launches in the area, The Arcady is likely to attract decent interest, if priced right of course.
Some of the most recent launches near The Arcady are Jui Residences, 1953, and Myra. They were launched in September 2018, March 2019, and September 2020 respectively. All of them have been sold out, attesting to their attractive locational attributes and freehold status despite being small developments comprising just 117 units, 58 units, and 85 units respectively.
Hence, with The Arcady’s bigger land size, residents can look forward to more facilities, which will appeal to a wider range of home buyers, especially families with children. And being a mid-size development, residents will also enjoy more exclusivity.
Average Price Trends Comparison
Meanwhile, let’s examine how Jui Residences, 1953, Myra, and Eight Riversuites have performed since their launch.
We will also examine the average price performance of private properties in District 12 starting May 2012 to the present. The reason for using May 2012 as the starting point is to coincide with the launch date Eight Riversuites. This will enable us to compare how District 12 has performed vis-à-vis a particular development that has been around for a sufficient length of time.
Hence, it will provide us with some insights into its average price performance as well as private properties in the vicinity in general.
Eight Riversuites is located at Whampoa East, right in between Serangoon Road and Bendemeer Road, and just 5 minutes walk from The Arcady. However, compared to the other developments which are freehold, it is a 99-year leasehold condo development comprising of 843 condos and 19 landed units.
As can be seen from the chart, the following are the average price performances of:
- Jui Residences: +8.65% (launched September 2018)
- 1953: -1.17% (launched March 2019)
- Myra: +24.32% (launched September 2010)
- Eight Riversuites: +31.74% (launched May 2012)
- District 12: +24.41%
From the above, only 1953 has shown a slight loss. However, it should be noted that it is a residential cum shophouse development at Tessensohn Road in District 8, and not District 12, where The Arcady is located. It is also a very small development with only 58 residential units and hence, may not be representative of actual market sentiment.
As for the rest, they have performed quite well, which should bode well for The Arcady condo.
Review of Other New Property Launches
Besides The Arcady, you may also be interested in the following review of new launches:
- Watten House, a luxurious condominium near Tan Kah Kee MRT.
- Skywaters Residences, a mixed-use development at Shenton Way.
- TMW Maxwell, a mixed-use development opposite Maxwell Food Centre.
- Newport Residences, a mixed-use development at Anson Road.
- Marina View Residences, a prime 99-year mixed-use development at Marina Bay.
- The Reserve Residences, an integrated development at Jalan Anak Bukit.
- Grand Dunman, a District 15 condominium at Dunman Road.
- Blossoms By The Park, a District 5 mixed-use development at One-North.
- The Hill @ One-North, a District 5 mixed-use development at Slim Barracks Rise.
- Pinetree Hill, a District 21 condominium at Pine Grove.
- Tembusu Grand, a District 15 condominium at Jalan Tembusu.
- Sora, a District 22 condo at Yuan Ching Road, Jurong Lake District.
- Lumina Grand, an EC at Bukit Batok West Avenue 5 by CDL.
- The Arden, a District 23 condominium at Phoenix Road.
- Lakegarden Residences, a condo development overlooking Jurong Lake Gardens.
- Lentor Hills Residences, a District 26 condominium at Lentor Hills Road.
- J’Den, a District 22 mixed-use development at Jurong East.
- Altura EC, a District 23 executive condominium at Bukit Batok.
- The Myst, a District 23 condo at Upper Bukit Timah Road.
- Botany At Dairy Farm, a District 23 condominium at Dairy Farm Road.
- Hillock Green, a condo development near Lentor MRT station.
- Hillhaven, a condominium located near Hillview MRT station.
- Lentoria, a condo development at Lentor Hills Road.
For more details on new launches, you can find them in project information.