New launches ramp up, with The Myst debuting on June 24 at prices starting at $1,862 psf.
As the June school break draws to a close, New launches developer are ramping up their project launches. The weekend of June 24-25 will see City Developments Ltd (CDL)'s 408-unit The Myst apartment showcases at Upper Bukit Timah Road and the 598-unit Lentor Hills Residential Area of the joint venture between Hong Kong and Hong Kong. Leong Holdings, TID and GuocoLand.
For the CDL-listed New Launch Property, The Myst is a return to the Upper Bukit Timah Road area after more than 30 years. CDL completed the 596-unit Cashew Heights Apartment next door on Cashew Street in 1992. Cashew Heights has a 999-year lease since 1882. Next to it are the 696-unit Hazel Park Apartment and the 80-unit Hazel Park Terrace, owned by Ms. CDL's daughter developed Hong Leong Holdings and completed it in 2000. Both CDL and Hong Leong Holdings are part of the Hong Leong Group controlled by the Kwek family. Both developments also have 999-year leases from 1882.
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Besides Cashew Heights, CDL is also familiar with the neighborhood, having developed other projects in District 23, including a 429-unit Tree House at Chestnut Avenue (completed in 2013), a co-development project. between CDL and Hong Leong; The Rainforest (EC) executive apartment consists of 466 apartments at Choa Chu Kang Avenue 3 (completed in 2015); and 602 apartments Blossom Residences EC (completed in 2014) on Segar Road.
CDL also has an EC development site at Bukit Batok West Avenue 5, which it won last September with a bid of $336,068 million or $626 psf per lot rate. The new EC is estimated at 510 units and is expected to launch in the first half of 2024. CDL has also developed several projects in the Hillview area.
The Myst 99-year New launch Condo is a redevelopment of the former Tan Chong Industrial Park that CDL purchased for $126.3 million, with the deal completed in April 2022. "When we bought Returning to this 179,009 square foot property through an off-market agreement, we are mesmerized by the surrounding area filled with tropical greenery, natural parks and reservoirs,” said Sherman Kwek, CEO CDL Corporation, commented in a media statement. "We saw a great opportunity to create a green masterpiece that blends harmoniously with the verdant landscape of Upper Bukit Timah."
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