Gem Residences – Toa Payoh New condo launch by Evia Real Estate
Gem Residences condo is a 99-years leasehold new launch condo development in Toa Payoh / Bradell by Evia Real Estate. Located in District 12 at the junction of Toa Payoh Ave 4 & Ave 6, Gem Residence condo is located mins walk away to Braddell MRT and also a short distance away to Toa Payoh Hub. With expected completion in 2020, it comprises of 2 high rise 37/38 storey towers with 578 units. This project’s residents will practically have all their transport, recreational and also amenities all at their doorstep. An exciting and convenient lifestyle awaits
The Gem Residences new launch condo will consist of full and interesting facilities over its luxurious landscape. The facilities will includes a guard house, clubhouse, Function Room & Indoor Gym, Tennis Court , swimming pool & Sun Deck, Aqua Gym, Yoga Deck, BBQ Areas, Outdoor Fitness Station, Children’s Playground,. The Gem Residence condo facilities provide full family entertainment needs for your family and loved ones. Indulge in a tranquil and serene lifestyle right in the heart of Toa Payoh.
Gem Residences condo | Lifestyle and Convenience
There are many transport options are available at Gem Residences condo which is also just 5 mins away from the Braddell MRT Station which is just a 10 minutes ride to Orchard thus commuting to Orchard as well as the city area is therefore very convenient. Located nearby are also the Toa Payoh Safra where residents can get their full sporting indulgence with activities. Nature lovers can indulge in the tranquillity of Macritchie Reservoir Park. Entertainment for your loved ones and friends are therefore at your fingertips with the full condo facilities as well as the amenities nearby. Residents get to enjoy numerous fun-filling nearby recreation activities.
Gem Residences Toa Payoh is also near good schools such as CHIJ Toa Payoh, SJI international school, Beatty Secondary, PeiChun Public School and Raffles Institution. For vehicle owners, it will take less than 10 minutes to drive to the business hub and vibrant Orchard Road shopping district, via Central Expressway (CTE). From the rental perspective, you can easily cater to expats from the international schools around, from the Central Business District and Marina Bay Financial Centre due to Gem Residence city fringe location.
Why Gem Residences condo?
- Located in the mature estate of Toa Payoh on the city Fringe with many famous food around. Good transport network around.
- Located within mins to Braddell MRT Station. Condo developments near MRT are becoming increasingly rare. Only one Stop to Bishan MRT/Toa Payoh MRT, four stops to Newton and five stops to Orchard Road
- Toa Payoh Safra or Macritchie Reservoir can bring nature and fun to your family and friends
- Reputable developer Evia Real Estate that developed sold out projects such as Heron Bay and Lake Life.
- Easy access to various shopping, dining and entertainment mall.
- Easy access to CBD, Orchard shopping belt via the various expressways
- Full resort style condominium facilities for you and your family to enjoy.
ABOUT EVIA REAL ESTATE
Evia Real Estate is a Singapore based firm that has been actively developing various residential projects in Singapore, providing quality spaces which in turn resulted in sold out projects since their debut.
In 2010, the company decided to enter the market due to rising incomes and the growing middle-class, believing there would be healthy demand for reasonably priced properties with good specifications, said Leslie Lim, Co-Managing Partner at Evia Real Estate.
Having been responsible for two past EC projects – the 416-unit Watercolours in Pasir Ris launched in 2011, and Heron Bay in Upper Serangoon View that came to market in 2012 with 394 units – the group is now leading a consortium to develop the 546-unit Lake Life EC in Jurong Lake District.
The first two ECs were warmly received by the market. “Watercolours was sold out in about six months and Heron Bay was more than 90 percent sold over one weekend. We then went on to secure our third EC site – Lake Life,” Lim noted.
But right now the EC market is facing a double whammy. “We have the 30 percent mortgage servicing ratio (MSR) at the lower end putting a lid on borrowing, and the $12,000 income ceiling cap at the upper end.
“Secondly, a resale levy was introduced in December 2013. Fortunately for Lake Life, buyers are exempt from this as the land was purchased before the measure was introduced,” added Lim.
Foreign Fund Manager too
Unknown to many, Evia Real Estate is also a property fund manager in South Korea. With a portfolio of over 2.3 million sq ft of industrial and commercial space, its assets under management have a combined value of more than $1.5 billion.
“Back in 2010, we expected demand and rental rates for industrial assets in Singapore and Asia to rise along with growing economies. While we tried to secure assets here (in Fusionopolis 3 and 5, and Biopolis 3), we had better success in South Korea,” said Lim.
Currently, the company manages three logistics warehouses and one mixed-use property. These are AMB Incheon Logistics’ facility at Incheon Airport Free Trade Zone, AMB Incheon DC1 Warehouse at Gyeonggi-do, Suwon Ice Logistics Centre at Suwon City and Apple Plaza in Bundang-gu, Gyeonggi.
With a gross floor area of 1.2 million sq ft, the last site is set to be completed by end-October or November. “We upgraded a tired looking building and repositioned the mall into F&B and fashion, two segments that South Korea is particularly strong in,” Lim shared.
Moving forward, Evia is hoping to secure a land development site in the country and build another warehouse by year-end.
“Evia is committed to South Korea with a deep local team of asset managers. Our pipeline there is strong and we intend to grow the portfolio there to about $600 million to $800 million,” added Lim.
- Source PropertyGuru