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Shui On Land, a Hong Kong-listed property company, has announced a joint venture with state-owned enterprise Shanghai Pucheng to carry out a redevelopment project at Pujiang Town, in the Minhang district of Shanghai, China. The project will focus on the redevelopment of Zhaojia Lou Ancient Town, a popular, AAAA-rated tourist attraction. This area is bordered by the Shanghai Shenjiahu Expressway, the Shanghai North-South Elevated Road and two subway lines.

The joint venture between Shui-On Land and Shanghai Pucheng will redevelop land parcels bordered by Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west and Xiaoyan Lake to the north. The new development will include residential, commercial and ancillary facilities and will attempt to preserve the unique history and culture of Pujiang Town.

Jessica Wang, CEO of Shui On Land and the Shui On Group, expresses confidence in the success of the redevelopment project. “Over the past 30 years, Shui On Land has developed a strong foothold in Shanghai and participated in urban renewal projects with proven capabilities in master planning, cultural preservation, community operation and urban regeneration.” She also highlights their successes in the Panlong Tiandi project in Shanghai as an example of their ability to successfully undertake urban-village renovation.…

Parc Stevens in District 10 was the site of the most profitable condo resale transaction recorded during the week of April 4 to 11 according to caveats lodged. On April 10 a first-floor unit spanning 3,466 sq ft with five bedrooms sold for the impressive sum of $7.86 million, a significant increase from the price of $5.2 million it had been purchased for in April 2007. This resulted in a massive profit of $2.65 million or 51% after a 16 year holding period.

This sets the highest psf-price ever seen at Parc Stevens, composed of three lowrise blocks spanning four storeys each, and marks the first unit sold at the development this year as well as the second most profitable transaction ever recorded. Last May, a 3,305 sq ft unit on the fourth floor changed hands at an astounding $1,885 psf or a gain of $2.73 million.

The second most profitable transaction took place at Yong An Park, a freehold condo in the River Valley area. On April 6 a four-bedroom unit measuring 3,434 sq ft on the 10th floor was sold for $8.1 million, resulting in a 35% profit of $2.08 million over an 11 year period for the seller.

The most unprofitable transaction was recorded at Marina Bay Suites. The 2,680 sq ft four-bedroom on the 25th floor, purchased from the developer for $6.39 million in December 2009, sold for $5.25 million on April 10 resulting in a loss of $1.14 million or 18% for the seller. This development is a 99-year leasehold, with 221 three- and four-bedroom homes ranging in size from 1,572 to 2,691 sq ft.

Since the beginning of 2021, with the exception of the unit sold in March, all units at Marina Bay Suites have sold below the purchase price. Losses range from $7,000 to $3.25 million.

The week in review showed sizeable profits at Parc Stevens, Yong An Park and even large losses at Marina Bay Suites, despite its location in the Marina Financial District. It is clear that the success of any resale transaction hinges on many factors, including the location and length of the holding period.…

, and the Greater Southern Waterfront

Since its sales gallery opened on April 14, Blossoms By The Park has seen an impressive 4,000 visitors in the past three days, mostly locals according to Lim Yew Soon, managing director of EL Development. The 275-unit private condo stands tall at Slim Barracks Rise in One-North and is set to launch on April 29. The property features a mix of 1 to 4 bedroom premium units appealing to potential investors.

Prices begin at $1.291 million ($2,352 psf) for a 1 bedroom plus study and move up to $1.499 million ($2,211 psf) for a two bedroom. Additionally, two bedroom plus study units start from $1.585 million ($2,198 psf), while 3 bedroom dual-key units begin at $2.082 million ($2,276 psf). Three bedroom units are priced from $2.279 million ($2,183 psf), 4 bedroom units start at $2.921 million ($2,243 psf), and 4 bedroom premium units start from $3.335 million ($2,213 psf). Ken Low, managing partner of SRI, believes the average sale price will be within the $2,350 – $2,400 psf range.

The building’s proximity to amenities present great investment appeal. It is just a 3-minute walk away from Buona Vista MRT Interchange Station, a 5-minute walk to The Star Vista mall, 1km to Fairfield Methodist School and a mere 5-minute distance to the Greater Southern Waterfront.

For those considering buying, the numerous lifestyle options in the area are an added bonus. EdgeProp’s Landlens feature allows prospective buyers to check out the latest listings near Blossoms.…