The wife and I were at the sales gallery of Vacanza @East over the weekend.
We were surprised to learn that this project is still in its “previewing” stage despite being marketed since end-September.
Here are some of the photos we have taken of the sales gallery and showflat – a 1,399sqft, 4-bedroom ground-floor unit (Type D2-G).
We will post our review…soon.
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Hoi Hup and Sunway sold nearly 90 units at their Vacanza @East condo by the end of Tuesday, when the project previewed to those who had registered interest with the appointed marketing agents DTZ and Huttons. This is according to a BT report today.
A VVIP preview was held on Monday for staff/directors of Hoi Hup and Sunway as well as their special guests.
The average price for the 12-storey freehold project is about $1,090psf.
Buyers were mostly Singaporeans and the most popular units were two- and three-bedroom units.
In absolute price terms, units sold range from nearly $550,000 for a 484sqft one-bedder to slightly above $2 million for a three-bedder penthouse of over 1,900sqft.
Initially two blocks comprising 141 units were released but as potential buyers started requesting for apartments in other stacks in the 473-unit project, the developers began releasing more units.
Vacanza comprises one- to four-bedroom units as well as penthouses. It will have a clubhouse, gymnasium, a tennis court, a lap pool, fitness station and lawn.
Market watchers point out that the project, located at Lengkong Tujoh, is next to the Pan Island Expressway, near Singatronics Building and Bedok Industrial Estate. It is about a kilometre away from Kembangan MRT Station.
Hoi Hup and Sunway are developing Vacanza on a 207,000sqft site which they bought in October last year for $158 million, or about $445 per square foot of potential gross floor area, including an estimated development charge of about $36 million at the time.
The site, which was vacant at the time, was sold by Lee Tat Development. The residential site has a 2.1 plot ratio (ratio of maximum potential gross floor area to land area) and a 12-storey maximum height under Master Plan 2008.
Vacanza’s appeal is supposedly due to it being a freehold project in a quiet estate amidst a landed housing enclave. However, the wife and I wonder how much of the “PIE noise effect” will Vacanza be subjected to, especially when the site is located along this busy expressway…
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The BT today has reported that Vacanza @East, a freehold condo in the Kembangan area, is previewing from today.
This is a joint-venture project between Hoi Hup Realty and Malaysia’s Sunway group.
The average price is expected to be slightly over $1,000psf for the 141 units being released in two blocks of the 12-storey project. Vacanza @East will have a total 473 units in seven blocks.
The project comprises one to four-bedroom units as well as penthouses.
About 39% of uinits have either two bedrooms or two bedrooms with a study. Another 30% are three-bedders.
View our previous post about this project here:
http://sgproptalk.blogspot.com/2010/09/new-project-details-vacanza-east.html
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The wife and I have received the following details on VACANZA @EAST from one of our contacts (thanks John!).
This is a project that may be of interest to those looking for a freehold condo unit in the East and do not mind smaller units. But it’s location right next to the PIE may be an issue… 
Project Name: Vacanza @East
District: 14
Location: 34 Lengkong Tujoh (Kembangan)
Description: 7 towers of 12-storey each, contemporary designed building with full facilities
Total number of units: 473
Land Size: 200,000sqft
Land Tenure: Freehold
Expected TOP: December 2014
Unit Mix (Typical)
Marketing Brochure
http://www.scribd.com/doc/37081557/Vacanza-East http://d1.scribdassets.com/ScribdViewer.swf?document_id=37081557&access_key=key-23a6ckfoa7w5y1qnaemu&page=1&viewMode=slideshow
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A dear friend of ours has commented that our previous reviews were… well… too “chunky”. So the wife and I decided to take a slightly different tact on this one. Let us know if you like this better.
District: 14
Location: Dakota Crescent
Address: 70 – 84 Dakota Crescent
Developer: UOL Development (Dakota) Pte Ltd
Tenure: 99-year Leasehold
Site area: 185,000sqft
Expected TOP: July 2014
Description: Total of 9 condominium blocks, comprising
• Four 20-storey blocks (Block 70, 72, 76 & 78),
• Three 19-Storey blocks (Block 80, 82 & 84)
• One 6-storey podium block with 5-levels of parking and 11 Cabana units on the 6th level.
• Total number of units: 616
Unit Types & Sizes:
• 1-Bedroom (77 units): 484 – 581sqft
• 1+1 Bedroom (98 units): 624 – 786sqft
• 2-Bedroom (78 units): 883 – 1087sqft
• 2-Bedroom Cabana (11 units): 1421sqft
• 3-Bedroom (271 units): 1141 – 1615sqft
• 2+1 “Dual Key” (39 units): 1281 – 1572sqft
• 4-Bedroom (37 units): 1572 – 1981sqft
• 4-Bedroom Penthouse (5 units): 2390 – 2820sqft
(1) The developer has combined a 1-bedder and a 2-bedder to form the “Dual-Key” unit. It has one main door that opens up into 2 separate apartment units, each with own living/dining and kitchen.
(2) The “Cabana” units are 2-bedroom apartment located on the 6th floor of the podium block. Each unit has a patio that faces the lap/wadding pool, and comes with its own dedicated parking space on the 5th level just below the unit.
Facilities:
WATERBANK @DAKOTA is a full-facility condominium. The facilities are spread across the ground level, 5th level of Block 78 (gym) and the 6th level of the podium block adjacent to the Cabana units. No tennis court is available in this development.
There are 5-level of multi-storey parking located in the podium block, with the already much publicized 554 parking spaces for the 616 apartment units. The multi-storey carpark is connected to Blocks 78 and 80 by overhead link-bridges, and to the rest of the blocks via covered walkways on the ground level.
There are 2 showflats in the sales gallery:
Showflat #1: 1981sqft, 4-bedroom ground-floor unit (Type EG)
• Living/Dining – rectangular shape, although seemed a tad small for an almost 2,00sqft unit. Comes with 60cm x 30cm marble-slab floors and 2.8m ceiling.
• Balcony – rectangular shape of almost 400sqft that stretches across the whole length of the living/dining room through to the 3 adjacent bedrooms. Functional enough for a 6 – 8-seater long dining table for outdoor dining.
• Dry Kitchen – divides the living area from the wet kitchen. Solid-surfaced top and sink.
• Wet Kitchen – L-shaped solid surfaced worktop, top/bottom-tier cabinets, “Electrolux” brand hob/hood/oven/microwave and “Grohe” kitchen faucets.
Wife and I were not impressed with the quality of kitchen furnishing and appliances provided.
• Yard – None, so dryer is a must else laundry can only be hung dry in the balcony.
• Utility Room – space enough to fit a single bed but nothing else thereafter.
• “Maid’ toilet – The door actually faces directly at the kitchen top. This is very bad Feng Shui (according to wife) as the kitchen is the “wealth” area of the house. So having the toilet facing the kitchen will drain away all wealth. On a hygiene aspect, it may also be unhealthy to have all the “bad air” from the toilet circulating in the kitchen when one is cooking.
• 2 Common Bedrooms – both are regular shaped, but one is rather small while the other can comfortably fit a “Queen” bed. They come with wood-strip floors and maroon coloured wardrobe with leather-like exterior finish – this looked nice from afar but on closer inspection, the quality of workmanship can certainly be improved.
• Common Bathroom – Decent size, with standing shower stall (no rain shower), “Grohe” bathroom fittings and non-descript toilet fittings. The bathroom sink is really old-fashioned looking, and in our opinion, quite ugly.
• Junior Suite – Decent size enough for a “Queen” bed and comes with the same maroon-coloured wardrobe. Attached bathroom is almost an exact replica of the common bathroom.
• Mater Bedroom – Again decent sized and should fit a “King” bed rather comfortably, with more than average wardrobe space. The Master Bathroom is very good sized, with 90cm x 30cm marble floors and walls. There is a long tub and an adjacent standing shower, but no rain shower option. The standard “Grohe” bathroom and non-descript toilet fittings apply.
Showflat #2: 1389sqft, 3-bedroom ground-floor unit (Type DG) 
• Living/Dining – similarly shaped and furnished as the 4-bedder, and even smaller in size.
• Balcony – Again of rectangular shape about 400sqft that stretches across the living/dining area and across the adjacent Master and Common bedrooms. You probably will have to move the dining area out here given the small living area.
• Dry Kitchen – Nonee
Wet Kitchen – Irregular shaped and comes with the same kitchen furnishing and appliances as the 4-bedder.
• Yard – None, and separate washer/dryer will have to be stacked one on top of the other. Either that or take your chance on the combined washer/dryer and risk having damped clothes.
• Utility Room – similar size to the 4-bedder but odd-shaped.
• “Maid’ toilet – Again the door faces the kitchen, consolation is that it is tucked towards the back and thus slightly further away.
• 2 Common Bedrooms – looked to be similar sized and equally bad wardrobe workmanship as the 4-bedder.
• Common Bathroom – Decent size, with similar fittings as the 4-bedder, ugly bathroom sink inclusive.
• Mater Bedroom – Surprisingly large and seemed to be even more spacious than the one in the 4-bedder, with rather generous wardrobe space. The Master Bathroom is decent sized, with 90cm x 30cm marble floors and walls. There is only a standing shower (no tub), and again no rain shower option.
What we like:
• Location – Less than 10-minutes drive to CBD and city area, WATERBANK @DAKOTA is made even more convenient with the newly opened Dakota MRT station just 100m away. Good food galore at the Old Airport Road Food Centre across the road, and a choice of amenities in the HDB estate (wet markets, supermarts, clinics etc) and Leisure Park mall nearby.
• Riverfront Living – The Geylang River and Park Connector is right next to WATERBANK @DAKOTA. However, the river is still rather polluted and may emit some “interesting” smell during low tides.
• Cabana Units – These 2-bedders are rather interesting. They give owners the perception of living in “landed” property and comes with dedicated parking (1) underneath your unit. However, the parking space forms part of the unit’s total size. So the actual interior living area is only about 900+sqft, after deducting the parking and PES.
• “Dual-Key” Units – Again, this layout is rather nice. It comes with its own separate “granny flat” but still gives the impression of everyone living in the same household. It is ideal for multi-generation living, as it provides added privacy between you and your parents/in-laws. However, the combined-size of such unit, at 1281sqft, is really too small.
What we dislike:
• The quality of furnishings and fittings are quite disappointing. It reminded us of another UOL project we have seen – Meadows @Pierce – and frankly, the memories are not flattering.
• The toilet in the kitchen/yard area for most (if not all) the 3- and 4-bedder units faces directly at the kitchen. Although one should not be too obsessed over Feng Shui, the wife and I will rather err on the safe side.
• Given the long and narrow strip of land that WATERBANK @DAKOTA sits on, we are concerned that the blocks might be too close to each other for comfort. This is especially so for Blocks 70/72 and Block 82/84.
• Dakota Crescent is a rather narrow 2-lane road. When WATERBANK @DAKOTA is ready for occupancy, residents of the 616 units will have to share this road with next-door neighbor Dakota Residences (348 units) and the existing HDB dwellers across the road. It may be a daily exercise in frustration getting in and out of the condo especially during rush hours. So either learn to be patient or brush up on those “swear” vocab.
• Although WATERBANK @DAKOTA is situated very close to Katong and East Coast area, its location classification of District 14 puts it in the “Balestier/Mcpherson/Geylang” district rather than East Coast (D15). It may be a minor point on purchase, but the “district difference” can become quite an issue when you decide to resell your unit later and have to compete with the likes of The Shore or Coralis – both of which are located in the “primer” D15.
• Although the marketing literature said that WATERBANK @DAKOTA is nearby to primary schools like Geylang Methodist and Tanjong Katong Primary, only one primary school is within 1-km to our knowledge – Kong Hwa Primary.
Pricing:
• #06-35 (1421sqft, 2-bedroom Cabana): $1.318 million, or $927psf
• #03-20 (1527sqft, 4-bedroom Unit): $1.799 million, or $1178psf
• #02-17 (1527sqft, 4-bedroom Unit): $1.706 million, or $1117psf
The monthly maintenance for the Cabana is about $300, while for the 4-Bedroom is $350.
As of last Sunday, only units on the low floors (i.e. below 6th) are left. The only high-floor units still available are found in Block 70 – stack #06 (3-bedders) and stack #05 (Dual-Key). But these units either face the HDB flats or have their views blocked by Dakota Residences next door.
In summary, the wife and I are not convinced that WATERBANK @DAKOTA is value for money, given the quality we have observed in the showflats, and the fact that we may have to fight over the 554 parking spaces for our two cars with the other 615 unit owners. However, we seemed to be proven wrong at least 550 times over, given that this is the number of units already sold. But whether is this really an indication of foolishness on our part and wisdom of others, only time will tell.
Click here to view slide show and floor plans
http://www.flickr.com/apps/slideshow/show.swf?v=71649
It was reported in the BT today that UOL Group has sold about 40% of its 616-unit Waterbank at Dakota condo by yesterday. By some analysts’ calculations, UOL stands to book pretax earnings of $135 million to $160 million progressively from the project as it is built once it is fully sold. Prices of typical units range from above $1,000sqft to above $1,300psf. Buyers were predominantly Singaporeans.
Smaller units were first to be snapped up in the 99-year leasehold project, next to the soon-to-open Dakota MRT Station and fronting Geylang River.
In absolute price quantum, the cheapest one-bedroom unit cost $570,000, for a 484sqft unit on the second level. Two-bedders start from $979,000 for an 883sqft unit. All five penthouses (2,390sqft to 2,820sqft) have also been sold at $2.8 million to $3.4 million.
UOL has released more than 300 of the total 616 units in the development, which is due for completion in 2014. The group is expected to save some units for the project’s official launch next Saturday, the same day as the opening of Dakota Station.
The developer opened the showflat to staff and associates and consultants earlier this week before inviting other buyers yesterday.
Unit sizes range from 484sqft for a one-bedder to 2,820sqft for a penthouse. The project has 175 one-bedroom and one-bedroom + study units, 78 two-bedders, 271 three-bedders, 37 four-bedders and 5 penthouses. There are 11 cabana units, which are two-bedroom units perched on a landscaped deck overlooking the swimming pool and with their own carpark lots.
(* Did you notice that the maths for the unit distribution as reported in the BT do not add up to 616 units? For the sake of accuracy, the wife and I had done a web search and managed to find an alternate source of information that we believe is a more accurate representation of the distribution of units at Waterbank at Dakota – see table below *)
UOL’s preview of the project comes just seven months after it was awarded the site last September at $508 per square foot per plot ratio (psf ppr). City Developments is due to release later this month a 429-unit project at Chestnut Avenue. It will build the 24-storey condo on a site bought at a state tender last August for $280psf ppr.
The short turnaround time reflects developers’ strategy of riding the current buying momentum for mass and mid-market homes. It also suggests that projects on sites sold by the government from January to May this year stand a good chance of being launch-ready before the year runs out.
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SG PropTalk 