What you should know about North Gaia EC?
The EC land at Yishun Ave 9 brought in a higher-than-expected leading quote cost of $373.5 million from Singapore-listed home programmer Sing Holdings. The cost converts to a land rate of $576 per square foot per plot ratio. The proposal cost is much better than market expectations that range from $500 to $550 per square foot per plot ratio. The last 2 ECs launched in Yishun were both in 2015. The new EC at Yishun, now known as North Gaia, will be the next, as well as it will be at some time in 2021, which is 6 to 7 years after the last two EC projects were released.
The The new Yishun EC North Gaia is located in close proximity to a plethora of amenities. The project is a few minutes’ walk away from Yishun and Khatib MRT Station. The rest of Singapore is also highly accessible via TPE, SLE, CTE, and the future North-South Corridor (NSC).
Drivers will find the future North-South Corridor (NSC) that makes travelling into the city a lot faster. The NSC with 21.5 km route will run both underground and above ground from Woodlands to CBD. Express bus services will run along the route on dedicated bus lanes and the cycling trunk route will be established along NSC.
Source: North Gaia EC https://north-gaia.com/
The new EC @ Yishun Ave 9 is also family-friendly since it is close to Chongfu Primary School, Northland Primary School, Chung Cheng High School and Yishun Junior College. Khoo Teck Puat Hospital and a community hospital nearby will help to fulfill the healthcare needs of the residents.
ECs are often said to “make money” immediately after the five-year Minimum Occupation Period (MOP). Many people believe prospective buyers are easy to find for resale ECs– only the first batch of buyers are faced with the MOP, and the theory is that any buyers would be purchasing closer to the date of full privatisation.
The Yishun site is quite large, and experts expect that it can yield about 600 homes. It’s also expected to have a good view of the Khatib Bongsu nature park, once NParks completes it.
North Gaia EC is close to potential growth areas, namely the Woodlands Regional Centre and the Seletar Aerospace Park which will offer more job opportunities closer to home. The Woodlands Regional Centre is earmarked as the largest economic hub in northern Singapore and the authorities plan to introduce new spaces for business, industry, and research and development in the area over the next 15 years.
Yishun, formerly known as Nee Soon, is a residential place located in the northeastern corner of the North Region of Singapore, bordering Simpang and Sembawang to the north, Mandai to the west, the Central Water Catchment to its southwest, Ang Mo Kio to its south, and Seletar and Sengkang to the east.