Copen Grand is expected to be a highly anticipated new development previewing in October 2022. Copen Grand is the first Executive Condominium (EC) to be launched in the new Tengah town. It is akin to projects like Prive in Punggol, Bishan Loft in Bishan, etc. We will analyse the market trend of those projects later.
Copen Grand is a joint venture between two established Developers, City Developments Limited (CDL) & MCL Land. Both developers are no strangers to quality homes; their recent joint venture project Picadilly Grand is sold over 83%. Other iconic projects range from J Gateway, Parc Esta, Leedon Green, Irwell Hill Residences, Canninghill Piers & Amber Park.
The highlights of Tengah town, also dubbed “Eco-Smart Forest Town”, are the abundant greenery & public gardens planned, central cooling system to units, so residents don’t need to install inefficient outdoor AC condensers, pushing roads and parking beneath the town centre to free up ground level for pedestrians and streets that are futureproofed to accommodate emerging technologies.
It’s Punggol Digital District on overdrive!
Is There A Benefit Of First Mover Advantage?
What’s the fuss about being the first mover at Copen Grand? Being the first will indeed reap a handsome profit? Let’s compared 2 ECs in Punggol and Bishan to see how they fare on the resale market.
From the chart, Prive transacted at S$691psf on average during the initial stage in 2010. Then, after 5 years Minimum Occupancy Period (MOP), prices jumped to an average of S$921psf. Finally, in June 2022, a 1,055 ft² unit transacted for S$1,216psf, and a check on property listing sites saw several listings starting from S$1,327psf.
Again, based on the chart, Bishan Loft transacted at S$408 on average around 2001. After the Minimum Occupancy Period, units changed ownership at an average of S$658psf. Upon crossing the 10-year privatisation mark, prices went up as high as S$1,227psf! It is currently trending around S$1,427psf.
Generally, Executive Condominiums have two stages where price fluctuates. The first is during the initial 5-year MOP, where it is partially privatised and the second stage is at the 10-year fully privatised mark. The most significant jump for most ECs is during the 10-year mark. Still, it also depends on the locality and surrounding development.
Copen Grand is surrounded by 14 HDB Build To Order (BTO) projects. The nearest BTO development, Garden Bloom @ Tengah, consists of 782 residential units ranging from 2-room Flexi, 4-room & 5-room. The price of a 5-room is about S$495,000, which is considered high for a new district. Plantation Village, another BTO development beside Tengah Plantation MRT Station (JE1), houses a massive 1420 residential units ranging from 2-room to 5-room. 5-room were sold at about S$409,000 during launch.
For comparison, 5-rooms at Treelodge@Punggol were priced at $383,000 during launch in 2007. In September 2022, a loft unit was transacted at above $1,200,000!
Copen Grand’s future potential buyers will likely come from the 14 BTO projects in the vicinity. According to the Masterplan, an estimated ¼ of the Tengah district is already earmarked for Industrial use. Almost ½ of the district has already been utilised for BTO and greenery, leaving another ¼ with little land for new private development & ECs.
Upgraders hence will have a limited choice if they are sticking with Tengah.
What About Infrastructure Around Copen Grand?
As of this article, there isn’t any completed infrastructure in Tengah town. However, based on the Masterplan & location map from nearby BTO, the town is designed to be well connected via forest corridors and parks. In addition, healthcare facilities, Schools, Civic & Community Institutions, Public Transport nodes & Places of Worship are well integrated into the town.
There are a total of 12 educational institutions planned in Tengah town. The nearest school is 213m away from Copen Grand.
Copen Grand is located in the middle of the Tengah Garden Walk district and is close to 3 future MRT Stations. Unfortunately, the stations under Jurong Region Line (JRL) operate above ground as opposed to the latest North-East Line (NEL); hence, noise is expected for properties along the line. Copen Grand is situated where the track coming from JE meets with the JS line. Copen Grand is about 380m to JS3 Tengah, 500m to JS4 Hong Kah & 600m to JE1 Tengah Plantation.
Based on estimates, it is approximately 360m from Copen Grand to Tengah Town Central. It features a car-free HDB town central and extensive green surroundings like the one based on the following artist’s impression.
700m to either West or East will connect you to Tengah Pond and a first-ever in Singapore 20ha Central Park, including an amphitheatre. It will also be integrated with water bodies to provide a picturesque space for recreation.
Punggol 21 blueprint was shelved for almost 10 years, leaving the initial batch of residents with few amenities to go. However, with the new Punggol 21 Plus, the population in Punggol has grown in tandem with the pace of development. As a result, the value of the resale property has also risen above some matured estates.
Copen Grand will likely benefit from such a detailed and well-planned Masterplan.
Jurong - 2nd Business Hub (Possible Gateway To China?)
Copen Grand’s proximity to the upcoming creation of Jurong Innovation District (JID) & Jurong Lake District (JLD) will likely increase the demand in Tengah. Tengah is linked to both upcoming districts via the Jurong Region Line.
JID will be an industrial district for advanced manufacturing, supporting an ecosystem of manufacturers, technology providers, researchers and education institutions with Nanyang Technological University nearby. This concept likely evolved from the formation of Punggol Digital District, where the Singapore Institute of Technology (SIT) campus will co-exist with JTC’s Business Park in the exact location.
JLD, also known as the 2nd CBD, will be the largest mixed-use business district outside the city centre, with quality offices, housing, amenities and abundant community green spaces.
If the High-Speed Rail does materialise, it will be a hub that connects Singapore to parts of China in the long run. In addition, Jurong Lake District’s success will likely positively affect surrounding estates like Tengah.
Which Facing Will Be The Best?
Blocks within Copen Grand may likely be oriented like the Garden Bloom @ Tengah BTO. Assuming it’s the same orientation as the BTO, units facing the South may be overlooking the MRT track, which inevitably will contribute to some noise level. However, those units will also enjoy the view of the proposed common green beside Copen Grand.
Assuming the surrounding BTOs are the same height as Copen Grand, it will be better to have an excellent internal facing instead. The Artist’s Impression shows that the Developer does pay great attention to the greenery within Copen Grand.
Copen Grand is opening its door to public preview on 7th October 2022. Unit prices are expected to be released on 19th October, and booking will commence on 22nd October 2022.
EC have different eligibility criteria than Private Condos. You can read the requirements here or chat with us to understand further.