Tang Skyline’s (subsidiary of Tang City Holdings Pte. Ltd.) latest announced project, ARTRA at Alexandra View, is all set to stand tall among the Redhill skylines.
Situated just next to the Redhill MRT station, the upcoming mixed-use new launch high-rise project is slated to have 43 floors in total and facilities that leave potential buyers’ jaws dropped.
ARTRA offers to its potential buyers a combination of luxurious lifestyle, functional living spaces and a wide-range of facilities – expected to complete by 2021.
Let’s take a look at some of the key attributes of this project.
ARTRA Developer and Background
Tang Skyline Pte. Ltd. was incorporated in 2015 as a real estate arm of Tang City Holdings – which is part of the Tang Group of Companies.
They may not be one of the biggest players in the Singapore private residential market, but you can be sure the organisation’s meticulous focus and vision in ensuring the delivery of their residential and commercial developments with the highest quality – backed by numerous recognitions received which underlines the extraordinary craftsmanship which the are well-known for.
Some of their earlier commercial and residential projects in Singapore are namely Pearls Centre Office Podium, Dorsett Singapore, Dorsett Residences and Fifty Two Stevens. Next up – ARTRA condo at Redhill.
Artra Redhill Location
Perhaps what will draw a lot of buyers is the pristine location of ARTRA at Redhill – situated in the city-fringe precinct of District 3 in Singapore. It combines the best of both worlds, perched neatly between lush greenery on Tanglin/Bukit Timah and urban precinct of the Redhill estate with a rich heritage.
Since the location is esteemed as a up-market residential estate, it’s only a short drive away from the Southern Waterfront of Singapore and to the city-centre. For non-drivers, being situated next to the Redhill MRT Station, getting to the Central Business District (CBD) and Marina Bay Financial District is just a mere 4-6 stops away – which shouldn’t take more than 30 minutes from ARTRA Redhill.
But it is not just the connectivity to these that is a bonus. ARTRA condo at Alexandra View is also a short drive from major expressways and arterial roads, including Ayer Rajah Expressway, Tanglin Road (leading you directly to Orchard Road) and Alexandra Road. So rest assured, you can enjoy luxurious living while still being just a few minutes’ drive away from anywhere in the city.
ARTRA Redhill is also situated close to a number of entertainment arcades like Queensway Shopping Centre, IKEA Alexandra and The Anchorage. Also, Star Vista, a state of the art shopping arcade, will also not be far, as it is located right next to Buona Vista MRT station. All one’s entertainment needs are sorted with such amazing facilities located a stone’s throw away.
ARTRA Condo Facilities
A number of luxury amenities are included in the project, comprising a beautiful lap pool, lounge bar, function room and a tennis court (which is very rare these days) – awaiting those who are interested in this esteemed property.
On top of the provided facilities in this mixed-use property, residents will also have immediate access to a childcare centre, supermarket and 16 other shops on the 1st level of ARTRA.
ARTRA Condo Floor Plan & Unit Types
Despite only spanning across a land area of approximately 90,417 sq ft and a plot ratio of 4.9, ARTRA condo at Redhill will comprise a total of 400 exclusive units – ranging from a 2-Bedroom + Study to a huge 5-Bedroom apartment.
- 2 Bedroom + Study – from 786 to 829 sq ft
- 3 Bedroom – from 1,044 to 1,119 sq ft
- 3 Bedroom + Study from 1,227 to 1,410 sq ft
- 5 Bedroom + Family at 2583 sq ft
The units are available in varying sizes to meet the different requirements of home buyers. The Artra condo floor plan will be made available real soon, so kindly watch out for this space.
ARTRA Price Analysis and Comparison
Back in November 2015, the site was awarded to Tang Skyline via public tender – a top bid of $376.9 million (or $851 psf ppr) among 9 other bids by various property developers. Thus, the expected sale psf for ARTRA condo will be in the range of S$1,530 to S$1,950 psf.
Let’s look at what’s the average price difference when compared the its neighbouring condos at Alexandra View.
|PROJECT||TENURE||NO. OF UNITS||AVERAGE PSF (S$)**|
|THE METROPOLITAN||99 YRS FROM 2006||382||1,248|
|ASCENTIA SKY||99 YRS FROM 2008||373||1,443|
|ECHELON||99 YRS FROM 2012||508||1,793|
|ALEX RESIDENCES||99 YRS FROM 2013||429||1,958|
|ARTRA||99 YRS FROM 2015||400||1,740|
** Indicative Launch/Average price based on transcations during the last 6 months (as of 02 Mar 2017)
ARTRA Showflat Location
The ARTRA showflat will be located in between Prince Philip Avenue and Alexandra Road – just opposite the Delta Sports Complex.
Opening hours have yet to be confirmed. Kindly give us a call at (+65) 6631-8384 before making a trip to ensure the ARTRA showflat is open for viewing.
ARTRA at Alexandra View Review
Being earmarked as one of the most prominent new launch in 2017 by property experts, ARTRA is the 3rd new launch in the Alexandra View estate – the 8th in the entire District 3 of Singapore within the last 5 years.
The buying scene within the Alexandra/Queenstown/Redhill precinct has been relatively buoyant in recent months, ever since the launch of Queens Peak condo (250 units sold on the 1st day of sales). It has somehow created a “spill-over” effect which benefit sales for some of the nearby condos.
And personally, I feel that ARTRA condo will be an interesting project to look out for in today’s market condition. Here’s why:
Land Cost Advantage
If you’ve missed the land sale for ARTRA back in November 2015, it was probably one of biggest talked-about news then, as the land price was so much lower than it’s newest neighbour, Alex Residences on Alexandra View – we are talking about a $120 psf ppr difference.
To make it feel like an even greater bargain, the cost of the land is also approximately $110 psf ppr cheaper and $30 psf ppr more than the plots for The Crest and Principal Garden respectively – which are much further from the Redhill MRT station.
The final adrenaline rush came in when it was being announced last December (2016) when a site at Margaret Drive (which is not as close to a MRT station) was sold at a price of S$997.85 psf ppr – that’s approximately 17.2% (or S$146.58 psf ppr) higher than site for ARTRA.
With this cost price advantage and looking at the average psf price of the earlier launches comparing to the project median psf of ARTRA condo, it will offer a safety net and good buffer for buyers who are looking at properties with low risks involved.
The Closest to Redhill MRT Station
When selecting the right property to buy, one of the key attributes which matters to buyers these days is the development’s proximity to an MRT station. When being lined up with the rest of the projects along Alexandra View – even newer ones such as Echelon and Alex Residences, ARTRA is the closest to Redhill MRT station.
And if the median psf price is as what we forecasted, this project will be a no-brainer.
Like all other things in the world, property prices are driven by demand & supply. Being already the 8th project in 5 years, has the precinct reached the point of market saturation?
Relatively weak demand in the area
Looking at the current projects in the same district, such as Commonwealth Towers, Queens Peak, Alex Residences, The Crest, Principal Garden and Highline Residences, there’s still a total of 1,788 units available for buyers to choose from – that’s almost equivalent to the size of 3 or more condominium projects.
|PROJECT||NO. OF UNITS||NO. OF UNITS LEFT**|
** Data as of 02 March 2017. Source: SquareFoot Research
The numbers above has reflected a relatively weak property demand in District 3, which isn’t the most optimistic situation as compared to some other areas in Singapore under current market conditions. Thus, it’s likely that price movements will be rather stagnant and I personally won’t be expecting much gains in future.
Another concern will be the amount of supply within the precinct. By looking at the table above, there’s already a total of 3,642 units in District 3, solely based on projects which are still under construction at this point of time – easily crossing the 4,000 mark if we were to include ARTRA condo.
With the not-so-healthy demand in the area, the large number of private residential units in the area will probably put any property owners at ARTRA in a less profitable situation as there will likely be a price war going on in future – be it for sale or rent.
Buying a unit at ARTRA may not guarantee your lucrative profits, however if the price is relatively lower than most of the existing new launch projects, you will definitely be at the lower end of the risk spectrum.
Given the price advantage and its close proximity to the MRT station, it will definitely be more appealing to future buyers or tenants, and thus offer slightly better returns as compared to the rest.
Ultimately, the price will determine if this is the ideal property to go for. As of now, everything seems good and nothing much to complain about.