News: Parc Clematis to open for preview next Saturday

Aug 8, 2019

Parc Clematis, SingHaiyi Group’s 1,468-unit residential project in Clementi, is set to open for public preview on 17 August (Saturday), with bookings starting on 31 August.

The development, which includes close to 20 landed homes, is the developer’s biggest project to date. 

Situated at the former site of Park West condominium, Parc Clematis sits on a 633,000 sq ft site with a plot ratio of 2.1. It features nine 24-storey tower blocks, with units ranging from 452 sq ft for a one-bedder and 2,669 sq ft for the biggest five-bedroom penthouse. Sizes for the 12 terrace units begins from 2,659 sq ft, while the six bungalows measure 3,832 sq ft each.

Prices for a one-bedroom unit starts from around $1,550 per sq ft (psf), $1,540 psf for a two-bedder, and S$1,530 psf for a three-bedder. Prices for the landed units, on the other hand, is not available.

Aside from offering communal facilities such as clubhouses as well as multi-purpose entertainment and game rooms, Parc Clematis is also ear shopping malls and train stations, the nearest of which is the Clementi MRT station.

“I think there is always a demand especially for Parc Clematis since there have not been new launches in this area for the past three and a half years,” said SingHaiyi deputy chief executive Gregory Sim.

Nicholas Mak, head of research and consultancy at ERA Realty, told The Business Times that he expects the project to be well-received considering its location.

“Clementi is a mature town with many amenities and it may be popular among families because of its close proximity to schools. The huge HDB population in the area may also see some people looking to upgrade,” said Mak.

But despite the underlying demand for buyers with a preference for its location, Desmond Sim, research head for South-east Asia at CBRE, does not expect the project to be a complete sell-out.

“Looming economic woes make buyers more cautious. They are also spoilt for choice so we don’t expect people to flood to projects,” he said, citing recent launches within the area that still have unsold units. Kent Ridge has 356 out of its 548 units left unsold, while Twin Vew has 65 out of its 520 units unsold.

Parc Clematis is slated for completion in Q3 2023.

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Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

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