Transformation & Gentrification of Aljunied
Sims Urban Oasis
A 1,024 unit condominium is currently ongoing at Sims Urban Oasis. The magnificent structure is surrounded by Sims Drive and Aljunied Road. The project, developed by GuocoLand, is expected to be the biggest residential condominium in the vicinity, when finalized in 2018.
When Sims Urban Oasis is completed, it is expected that the breathtaking development façade would stimulate and revive the location, which is currently predominately old HDB blocks. The land site was procured by GuocoLand from the government for a staggering $530.9 million in April of 2014. With official takeoff in February of 2015, a significant 59% has been purchased since commencement.
Once the development is finalized, the magnificent eighteen storey structure would spread over the 257,260 square foot location to give a majestic presence. The units vary to cater to different needs and ranges from one-bedroom of 409 square foot to the more grandiose five bedroom units covering 1,722 sq ft.
The condominium also features six retail units with a dimension of 232 by 517 sq ft. It also features a fantastic amenity – A Childcare Centre with a 3,254 sq ft dimension but operations have not commenced.
Stable and Continuous Sales
Caveats were lodged for six units in the month of November and they were traded at amounts stretching from $726,000 ($1,498 psf) for a 484 sq ft one-bedder to as much as $1.37 million ($1,325 psf) for a 1,033 sq ft three-bedder. Given the instability and unreliability of the economy and various financial hiccups, overall weekly sales are quite promising, due to the realistic pricing of the developer.
It is expected that there would be an increment in sales when the construction is near finishing. Given the aforesaid, there is the chance that Sims Urban would experience a surge in sales that would start from the concluding part of 2017 and last till the beginning of 2018.
This is particularly valid especially since a whopping 70% of purchasers would be staying in the building, with the remaining 30% made up by investors. When you consider the many facilities, conveniences, expansive space and its many enviable features, this construction scheme would be great for individuals of diverse inclinations and backgrounds.
Ongoing Gentrification at Aljunied
Surroundings of Sims Urban Oasis is currently undergoing an overhaul and gentrification. The timeworn HBD buildings that sit very close to the Sims Urban Oasis are already kept aside for the SERS Programme. In line with plans for redevelopements of these buildings, residents in these older buildings have been transferred to a freshly finished HDB structure at Greentops @ Sims Place. The SERS Programme will also contribute to reviving the area, particularly given that the recently finished private apartment suites pull in more youthful families with kids.
The recently completed James Cook University grounds on Sims Drive, witnessed a staggering admission of 3,400 understudies. Unquestionably, it is certain that the tertiary compound will pull in a more youthful group to the area with the inclusion of families with adolescent youngsters.
Proximity to Conveniences
One of the best aspect of being a resident in Aljunied being near to many fantastic conveniences such as the Paya Lebar Central, which is really close. CBD and town area is also only a few stops from Aljunied.
Residents in Sims Urban Oasis will enjoy many conveniences at the forthcoming Paya Lebar Square, which extensively embraces a modern shopping center with cineplex, food court, and a variety of F&B channels as well as various shopping malls.
With the various schools and higher institutions of learning in the district, it becomes clear that the Aljunied district would be a fantastic location for homes for a very long time.