Emerald Katong Boosts District 15 New Home Sales Continuum Emerges Top Beneficiary
In Tengah’s master plan, connectivity takes center stage. The town aims to improve accessibility with the introduction of the new Jurong Region Line (JRL), allowing for seamless travel within Tengah and to other areas in Singapore. As a result, residents of Novo Place EC will enjoy the convenience of being near various JRL stations, streamlining their daily commute. Furthermore, Tengah will boast an extensive network of pedestrian and cycling paths, providing residents with alternative modes of transportation and reducing reliance on cars. Novo Place will be a part of this modern and well-connected town.
Sim Lian Group’s Emerald of Katong has enjoyed strong sales since its launch two weeks ago, with almost all of its 846 units being taken up in the first three days. As of November 30, 825 units (97.5%) have been sold, with an average price of $2,617 psf.
Only 13 units were not sold during the initial launch weekend due to buyers cancelling their purchases. However, this shortfall was swiftly rectified during a balloting session held on November 30, in which all 13 units were snapped up. “We received over 800 expressions of interest, and every single one of the 13 units was sold,” says Ismail Gafoor, CEO of PropNex.
The launch of Emerald of Katong has also had a positive impact on neighbouring projects in the prime District 15 area of the East Coast. Next to Emerald of Katong is the Tembusu Grand, a 638-unit condo jointly developed by City Developments Ltd (CDL) and MCL Land. Since November 1, 52 units have been sold, bringing total sales to 581 units (91%) at an average price of $2,445 psf. Tembusu Grand is a 99-year leasehold development on Jalan Tembusu that was launched in April 2023.
Another neighbouring project, the Grand Dunman by SingHaiyi, has also seen strong sales since November 11. 18 units have been sold, bringing total sales to 731 units (72.5%) at an average price of $2,531 psf. This 99-year leasehold condo on Dunman Road was launched in July 2023.
The biggest beneficiary of Emerald of Katong’s launch is The Continuum, an 816-unit freehold condo on Thiam Siew Avenue developed by joint venture partners Hoi Hup Realty and Sunway Developments. Since November 9, when the project had 49% of its units still available, 126 more units have been sold, bringing total sales to 528 units (64.7%) as of November 30. The average price of units sold is $2,788 psf, with 13 units sold on November 15, 38 on November 16, and 22 on November 17.
The launch of Emerald of Katong has had a positive impact on neighbouring projects in the prime District 15 area of the East Coast. Next to Emerald of Katong is the Tembusu Grand, a 638-unit condo jointly developed by City Developments Ltd (CDL) and MCL Land.
The prices achieved by Emerald of Katong were highest for the one-bedroom and two-bedroom units on high floors, with prices ranging from $2,901 psf to $2,958 psf. Meanwhile, at The Continuum, 13 caveats lodged so far show prices exceeding $3,000 psf, with 11 units sold this November, including nine two-bedroom, high-floor units ranging in size from 646 to 721 sq ft. These units fetched prices from $3,003 psf to $3,084 psf, and two compact three-bedroom units measuring 872 sq ft were sold at $3,003 psf and $3,060 psf, respectively. For lower-floor units, some three- and four-bedroom units ranging from 1,066 sq ft to 1,270 sq ft were sold at prices between $2,667 psf and $2,681 psf during the past month.
November is shaping up to be a strong month for new home sales, surpassing the previous peak of 2,793 monthly private new home sales recorded in March 2013, according to Hutton Data Analytics. This will have a positive impact on the take-up rate in 2025, as can be seen from the example of Emerald of Katong, with over 800 cheques received for just 13 units on November 30. This will boost new home sales in 2025, according to Ismail Gafoor.