It has been more than 10 years since Malaysia’s YTL Corporation have acquired this prime freehold site along Orchard Boulevard back in 2007 for the development of 3 Orchard By-The-Park condo – which was previously housing the 50-unit Westwood Apartments, for a whopping S$435 million (or around S$2,498 psf ppr).
The deal was noted as the developer’s 3rd land acquisition in Singapore at that point of time and beat the previous record of S$2,338 psf ppr set by SC Global for The Ardmore (which has been redeveloped to Sculptura Ardmore).
After a long decade of wait, it seems like YTL Corp has finally decided to cash in on their investment and look set to ride on the market upturn by launching the brand new 3 Orchard By-The-Park condo.
3 Orchard By-The-Park Developer
This luxury real estate is being developed by YTL Westwood Properties Pte Ltd (a subsidiary of YTL Land) – part of Malaysia’s YTL Group which has a rich corporate history of more than 60 years and was first being set up as a construction firm back located in Kuala Selangor.
They are, in fact, one of the biggest builders in Malaysia and has a huge land bank which comprises of more than 809 hectares of land in Malaysia alone.
Their ventures in Singapore have been rather selective as they are mostly located in the luxurious Sentosa Cove and being the developer of 3 Orchard By-The-Park, this will be their maiden project on Singapore’s mainland.
Other than real estate, the YTL Group have also established a solid foothold in various sectors, such as cement manufacturing, hotels (in various countries such as Australia, Japan, China and some European nations) and technology.
3 Orchard By-The-Park Condo Location
Situated along one of the most prestigious and coveted addresses along Orchard Boulevard, 3 Orchard By-The-Park is located at 15 Orchard Boulevard, Singapore 248644 – near the Orchard Road shopping belt and Singapore Botanic Gardens (one of the UNESCO World Heritage Sites).
The freehold condo is also within the prime District 9 in Singapore – the home to many of finest residential projects and luxury hotels in Singapore.
What really sets 3 Orchard By-The-Park’s location apart from the rest of the luxury condominiums in Orchard is being nestled slightly off the hustle & bustle are of Orchard Road and having a tree-lined corridor along Orchard Boulevard, where the stretch of road has been filled rain trees and lush greenery leading to the condo.
Another one of the key highlights of 3 Orchard By-The-Park’s location would definitely be its close proximity to the future Orchard Boulevard MRT Station, which is literally at its doorstep.
3 Orchard By-The-Park Floor Plan & Unit Types
3 Orchard By-The-Park sits on a freehold site of around 62,179 sq ft – with only 3 residential blocks of 25-storey tall which comprise of only 77 luxury apartments in total.
It is being crafted by renowned Italian designer and architect Antonio Citterio, with a the “villas in the sky” concept.
The entire luxury condo comprises a wide selection of 2-bedroom, 3-bedroom, and 4-bedroom units, with each unit floor plan having its individual character, customised interiors and some having views of the surrounding lush greenery.
Based on Citterio’s design, you can rest assured that every inch of space within the units for sale at 3 Orchard By-The-Park and outdoor spaces are being put in place thoughtfully.
The 3 Orchard By-The-Park floor plan will be released as we move closer to its launch date. So do watch out for this space, or you can just drop us a note via the form below for more information.
3 Orchard By-The-Park Price Guide
By noting the earlier fact that YTL Corp acquired the Westwood Apartments for S$2,498psfppr. it wouldn’t be a surprise if 3 Orchard By-The-Park price goes above the S$4,000 mark. And with the market sentiments improving, it will seem like a fair deal with its tenure and superior location.
The following is the 3 Orchard By-The-Park price guide and is subjected to changes:
- 2-Bedroom – S$3.862 million to S$4.469 million
- 4-Bedroom – S$8.215 million to S$9.055 million
3 Orchard By-The-Park Showflat
Being a completed project, buyers and prospects can expect to view an actual unit being used as the3 Orchard By-The-Park showflat. This will, in fact, a better feel of the project and gives interest parties a clear idea of what they are purchasing instead of looking at just the floor plan.
To date, doors are still closed for the 3 Orchard By-The-Park showflat as the project hasn’t been officially launched yet. Do give us a call at (+65) 6631-8384 or drop us a note via the form below at the bottom of this page, and we will keep you posted.
3 Orchard By-The-Park Review
To date, we haven’t been able to take even a tiny peek at 3 Orchard By-The-Park – although it has been completed for more than 2 years (since 2015).
However, everything looks really good on paper and you can expect top quality from one of the biggest and most reputable corporations in Malaysia.
Having plenty of experience in building luxury homes in the Sentosa Cove precinct, I am pretty sure that YTL Westwood Properties Pte Ltd knows what are the affluent class of property buyers looking out for in Singapore.
Although the quality of the condo still remains in question, we are still able to offer a quick 3 Orchard By-The-Park review by giving our thoughts based on the projected pricing and geographical attributes.
Let’s look at some of its neighbour condominium projects and their average transacted psf price.
|PROJECT NAME||TENURE||No. Of Units||COMPLETION||AVERAGE PSF($)|
|St Regis Residences||999-Year||173||2008||2,292|
As you can see, other than Hana condo (which is only for lease), there hasn’t been any new condos being released for sale in the area for the last decade and the developer could possibly leverage on the demand for brand new condo units within the precinct. However, heated competition may be coming from New Futura (by City Developments Ltd) and 8 Saint Thomas (by Bukit Sembawang Estates) within the new launch prime residential properties in Singapore.
For the 3 Orchard By-The-Park launch, we do see 2 potential issues which may deter buyers.
Firstly, it would be the price point. If the project is to launch at around $4,000psf, it may be setting a record for being the most pricey condo project in the area. Although this may not be the heftiest price tag in the history of Singapore’s real estate market, at this price point, 3 Orchard By-The-Park is putting itself up against some of the high-end developments in the Ardmore precinct – which most affluent homeowners deemed as the most prestigious private residential area in Singapore. Thus, some buyers may disagree with 3 Orchard By-The-Park’s pricing.
Another major issue would be the sale of the Cuscaden Road GLS site, which is just next to the condo. Thus, living at 3 Orchard By-The-Park would also mean that owners (maybe not all) will be exposed to heavy construction and noise for at least 2-3 years.
To put it simply, having a freehold property in prime District 9 which is sitting just next to an MRT station is simply rare, however, we believe that this is not the only consideration factor for the high net-worth individuals.
It’s like buying any other luxury item; such as a watch, a bag or a car. For them, it’s more of the value and the quality of the real estate which they want. Whether a property makes investment sense for them or not isn’t really important. As long as 3 Orchard By-The-Park is able to justify and deliver top-of-the-line luxury living standards, it’s definitely worth considering.