Table of Contents
Grand Dunman is a new development located at the former Broadrick Secondary School site along Dunman Road. The development is one of the highly sought-after projects in 2023 due to its location. In this review, we will look at the advantages and disadvantages of Grand Dunman and the potential investment analysis.
Where is Grand Dunman Condo Located?
Grand Dunman is located within the Rest of Central Region (RCR) District 15 of Singapore. Situated at the former Broadrick Secondary School site along Dunman Road, the land parcel offers excellent connectivity to public transportation and a plethora of amenities within a short distance.
One of the biggest draws at Grand Dunman is the low-rise estates towards the South/South-East of the site. No high-rise developments are within a 1km distance in the south direction. The 1km clearance allows for an unblocked view of the surroundings and possibly the scenic sea view along East Coast Park.
The former Guillemard Camp north of the land parcel is now designated as a residential plot. According to the Masterplan, the plot ratio is the same as Grand Dunman, making it another potential high-rise development in the future.
Is SingHaiyi Group A Good Developer?
SingHaiyi Group is considered Singapore’s Top Ten Developers 2020 at the BCI Asia Awards. In addition, they won the Singapore Prestige Brand Award in 2020/21. SingHaiyi Group’s portfolio includes the Award Winning The Gazania & Parc Clematis. Upcoming developments from the group include the iconic Peace Centre & Maxwell House.
Sources said China Construction South Pacific Development is partnering with SingHaiyi Group to develop Grand Dunman. China State Construction Engineering Corporation (CSCEC) is one of the Top 10 Construction Companies in the World and offers an excellent track record in building construction.
When Is The Grand Dunman Launch Date?
Grand Dunman is launching around the end of the 2nd quarter to the 3rd quarter of 2023. SingHaiyi Group is likely showcasing TMW (Maxwell House) before this project.
What are the Prices for Grand Dunman?
The starting price for Grand Dunman is likely between S$2,500psf to S$2,600psf. The rising construction cost is adding to the breakeven price of the Developer. In 2023, construction materials and labour costs are projected to increase by as much as 44%!
Grand Dunman Condo – Detailed Analysis
There are 2 new land parcels upcoming in District 15 and within close proximity to Grand Dunman. Tembusu Grand by City Developments Limited is a 99-year leasehold at the junction of Tanjong Katong Road and Jalan Tembusu. The Continuum is the next freehold project at Thiam Siew Avenue by Hoi Hup Realty.
Both projects are launching before Grand Dunman, so it will be a good benchmark and an indicator of how well the new price level will fare in the area.
[Updated 9th April 2023] A nearby land parcel, Tembusu Grand, from the consortium City Developments Limited (CDL) and MCL Land sold 53% of the project over the weekend. 340 out of 638 units were sold at an average price of $2,465 per sq ft. Benefitting from the spillover effect, several CCR projects were sold over the weekend due to the narrowing price gap.
Waterbank At Dakota and Dakota Residences (District 14 Leasehold) are the only mid-size projects comparable to Grand Dunman. The Waterina and The Sunny Spring (District 14 Freehold) are the next 2 comparables.
Waterbank At Dakota commands a higher psf as most unit sizes are smaller than the other 3 projects.
| Projects | Transaction Date | Size | Layout | Transacted Psf |
|---|---|---|---|---|
| Waterbank @ Dakota | 7 Dec 2022 | 883 ft² | 2BR | S$1,711 psf |
| Dakota Residences | 23 Jun 2022 | 1023 ft² | 2BR | S$1,616 psf |
| The Waterina | 22 Jul 2022 | 1066 ft² | 2BR | S$1,548 psf |
| The Sunny Spring | 8 Dec 2022 | 1066 ft² | 2BR | S$1,548 psf |
Overall, the price appreciation of the four projects is appreciating at a healthy level. However, 3 upcoming launches in the area will likely drive the price further north. This situation was already proven with the launch of Lentor Modern and how it affected the resale prices in the vicinity.
Newer projects tend to outshine the rental market due to the modern facilities. However, from the chart, The Sunny Spring has a high rental volume, almost equivalent to Waterbank at Dakota every quarter. Does it mean tenants prefer older projects nowadays? No really. Price-sensitive tenants who are okay with ageing facilities will usually seek such older development.
| Projects | Transaction Date | Layout | Rental |
|---|---|---|---|
| Waterbank @ Dakota | Oct 2022 | 2BR | S$4,800 |
| Dakota Residences | Dec 2022 | 2BR | S$5,700 |
| The Waterina | Dec 2022 | 2BR | S$4,200 |
| The Sunny Spring | Dec 2022 | 2BR | S$3,800 |
Let’s break down the rental yield to see which scenario benefits the Landlords. We will use the above figures for Waterbank at Dakota and The Sunny Spring.
| Projects | Layout | Purchase Px | Rental | Annual Yield* |
|---|---|---|---|---|
| Waterbank @ Dakota | 2BR | S$1,510,813 | S$4,800 | 3.81% |
| The Sunny Spring | 2BR | S$1,650,168 | S$3,800 | 2.76% |
What Are The Amenities Near Grand Dunman?
Connectivity
A 3-minute walk to Dakota MRT Station is another draw for Grand Dunman. Dakota MRT Station is within 2 stops of other Interchange Stations connecting to the Downtown Line & East-West Line. Close proximity to an MRT Station naturally attracts more investment value due to its convenience.
Besides the convenience of an MRT Station, a bus stop along Dunman Road provides another avenue to connect to other parts of the Island.
As Dunman Road is connected to major arterial roads, it only requires a short 6-minute drive to access either Kallang Paya Lebar Expressway (KPE), East Coast Parkway (ECP) & Pan-Island Expressway (PIE) from Grand Dunman. Some roads, like Old Airport Road & Tanjong Katong Road, can be congested during peak hours; however, other lanes also link to Dunman Road.
Daily Necessities
Apart from major Shopping Malls like Kinex, Paya Lebar Square, PLQ Mall & Kallang Wave Mall for your daily necessities, a wide variety of local businesses within close proximity to Grand Dunman bring more choices and added convenience.
Many dining options are available at the Old Airport Road Food Centre and the food enclave located at Tanjong Katong Road.
Schools
There are several renowned schools near Grand Dunman. Primary Schools within a 1km radius are Kong Hwa School & Tanjong Katong Primary, while CHIJ (Katong) Primary, Geylang Methodist School & Haig Girls’ School are within a 2km radius.
Secondary Schools include but are not limited to Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary, Broadrick Secondary & Dunman High School.
There are also several childcare institutions for families with young kids around the area. With many educational institutions available and ease of access to Grand Dunman, it will be a plus point for families looking at enrolling their children on either of them.
Recreational Facilities
Yet another plus point for Grand Dunman as there are many sports and recreational facilities around. Singapore Sports Hub, which is 2 MRT Stations away, features a vast variety of sports facilities, such as a running track, swimming pools, and multi-purpose halls, making it a popular destination for sports and fitness enthusiasts. In addition, the Sports Hub and Indoor Stadium host a wide range of sporting events and activities, including international football matches, concerts, and other cultural events.
At the doorstep, Geylang Park Connector easily links to East Coast Park and Marina South. A 10km scenic ride from Grand Dunman through the Park Connector leads you to the Central Business District (CBD).
Review Conclusion – An Investment Perspective
Grand Dunman hits most of the checkmarks for a great investment property. However, even though Tembusu Grand & The Continuum are launching in the area, their location may be less ideal than Grand Dunman’s. Grand Dunman has easy access to an MRT Station within minutes and is well-connected by major arterial roads, making travelling to other parts of the Island a breeze.
The Government’s plan to rejuvenate Paya Lebar into another regional business hub will likely bring about an influx of homeowners and tenants looking for property in the area. Paya Lebar Quarter is already housing MNCs like Maersk Singapore Pte. Ltd to Government Statutory Board IPOS. Naturally, projects with distinctive features will tend to stand out when homeowners and tenants search around.
Although the entry price is a considerable jump from the current market, this situation will continue islandwide due to the rising construction costs and manpower issues. Therefore, today’s price will likely be the norm in the long run, just like in the 2010s when Watertown in Punggol launched at S$1,3xxpsf.
Grand Dunman is also surrounded by several schools, sports facilities, local and upscale dining options, plus easy access to shopping malls. This distinctive advantage will be a huge pull factor.
The downside to Grand Dunman is likely the high density within the project. It is common to associate an increased number of transactions within the project as a positive sign of high demand. However, if some owners decide to lower their selling price, it will have a detrimental effect in the long run. In addition, due to the high density, potential Landlords and Sellers may find it competitive when trying to market their units.