Artist’s impression of Jui Residences, a new freehold condominium next to the Kallang River.
Do you want to own a freehold condo, but can only afford a leasehold property?
Then check out Jui Residences by Malaysian developer Selangor Dredging Berhad.
Freehold condo at leasehold prices
At the 117-unit freehold condominium, buyers can choose from one- to three-bedroom apartments. Unit sizes range from 431 sq ft to 1,000 sq ft and prices are from $741,000 to $1.479 million.
You can even get an additional early bird discount of 3.0 percent if you commit to buy a unit before the project’s official launch by submitting a Letter of Approval (LoA). You can get this document from the CPF Board if you intend to tap on your CPF savings to buy a new home.
This means you will only need to pay about $719,000 for the smallest unit.
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Cheaper than other nearby condos
Such prices are also more affordable than other newly-launched 99-year leasehold condos in the area
For instance, one-bedroom units at The Garden Residences were transacted for between $730,000 and $870,000 in August.
One-bedders at The Tre Ver cost between $730,000 and $818,000, while similar units at Park Colonial range from $793,000 to $848,000.
In addition, units at Jui Residences are cheaper than resale condos in the vicinity.
For example, smaller units at The Poiz Residences changed hands for around $750,000 to $835,000 so far this year.
Similar condo units at Nin Residences were moved for $770,000. Those in Sennet Residences changed hands for $828,000, while Sant Ritz moved smaller units for $835,000.
Read our Step-by-Step Guide to buying a condo
Own a slice of history
The conserved National Aerated Water (NAW) building will be integrated with Jui Residences, providing future homeowners with one of the last few reminders of Singapore’s industrial past.
Constructed in 1954, the two-storey landmark along Serangoon Road served as a bottling factory that produced famous soft drinks like Sinalco, Kickapoo Joy Juice and Royal Crown Cola.
Designed by an award-winning architecture firm in the UK, Jui Residences will feature modern minimalist and art-déco designs.
The former National Aerated Water Company is one of the last few reminders of Singapore’s industrial past. (Photo: Savills Singapore)
Resort lifestyle close to the CBD
Jui Residences will feature various amenities including a games area, aqua fitness pool and extensive landscaping on the sixth floor. There’s also a 28 sq m wading pool and 24m infinity lap pool at the sky terrace, offering panoramic views of the adjacent Kallang River.
Located in the city fringe within District 12, the project is a short drive from Orchard Road and Marina Bay.
Aside from being strategically located between the growth corridors of Kampong Bugis and Bidadari Estate, it is also next to a park connector that links to Bishan-Ang Mo Kio Park and all the way to Gardens by the Bay.
When is Jui Residences launching?
Jui Residences is expected to officially launch this Saturday (22 Sept), with its completion targeted by 2022. Before you visit the showflat, check out this video!
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org