A stronger contributing factor from Chip Eng Seng group’s Property Development division has allowed a 363% climb, year on year, in 2014’s 3rd quarter to a figure of $415.7 million.
Following a completion in August of the DBSS Belvia project, their division for Property Development saw a leap in revenue from its 2013 3rd Quarter figure of $21.8 million, to its 2014 3rd quarter figure of $313.8 million.
Kingsford Waterbay Serangoon Projects
In a recent statement made by the group, it was pointed out that other factors played a role in this increase for Kingsford Waterbay Projects, such as on-going projects like Nine Residences and Kingsford Waterbay being given progressive earnings recognition. There has also been the sale of units remaining in other projects that have been completed that add to this.
In August of 2014 two Fernvale land parcels were purchased by the group, which came on the heels of a tie with two more listed developers. Steps are now being taken in order to prepare for this projects projected launch date in 2015.
Chip Eng Seng has shared that there are plans for the re-launching of the Fulcrum in 2015. This project is situated in Tanjong Rhu and close to where the entrance will be of the Katong Park Station that will be part of the Thomas-East Coast MRT line.
Kingsford Waterbay near Simon Road and Kovan Market
A reminder of the Simon Road Market that was once situation in Kovan from 948 until 1999 can be seen by its current residents in the form of bronze sculptures that sit along the Upper Serangoon Road. The sculptures depict a scene of bygone days of the market; a woman holding a basket and pointing out the purchase she desires, and a man holding one of the many fowls he offers for sale.
Today, the mention of Kingsford Waterbay near Kovan may bring to mind landed housing, however this is starting to change. While the area, particularly which of Hillside and Rosyth in Kovan, is home to many bungalows, terraced housing and semi-detached homes, there have also been condominiums taking root in this neighborhood over the past few years.
Tembusu area getting popular near Kingsford Waterbay
One example is Wing Tai Asia’s Tembusu which is aiming for a 2017 completion date. Tembusu offers 337 units of 1 to 4 bedroom units, also including units that are dual key. There are other projects which are upcoming for the area, such as the Bentley Residences at Kovan and Kovan Regency. Also underway along Richards Avenue is a project of freehold cluster housing.