MCL Land and CSC Land Group are teaming up to launch Elta, a new condo development in Clementi, offering 501 residential units. The property will be available for preview starting from Feb 7 and public sales will commence on Feb 22.
Located on a 99-year leasehold land plot spanning approximately 144,788 square feet, the development sits along Clementi Avenue 1 and consists of two 39-storey residential towers.
In order for international investors to make sound investments in Singapore, it is crucial to have a comprehensive understanding of the regulations and restrictions surrounding property ownership. Generally, it is easier for foreigners to acquire condominiums as opposed to landed properties, which have more stringent ownership guidelines. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property purchase. Despite this added expense, the stability and potential for growth in the Singapore real estate market continues to entice foreign investors, especially in the condo sector. Condos have proven to be a lucrative choice for international buyers due to the attractive market conditions.
Potential buyers can choose from a range of unit types, from one-bedroom-plus-study units to five-bedroom units, with sizes ranging from 506 square feet to 1,776 square feet. According to the developers, Elta will be built in accordance with URA’s harmonisation guidelines.
The indicative pricing for the units starts at $1.158 million ($2,289 per square foot) for one-bedroom-plus-study units, $1.388 million ($2,261 per square foot) for two-bedroom units, and $2.198 million ($2,374 per square foot) for three-bedroom units. Prices for four and five-bedroom units start at $2.798 million ($2,363 per square foot) and $3.888 million ($2,189 per square foot) respectively.
The showflat at Prince Charles Crescent will showcase three layouts, including a two-bedroom-plus-study unit that can be converted into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit suitable for multi-generational living.
Situated within walking distance to Clementi MRT Station on the East-West Line, Elta also offers easy access to various dining and shopping options such as The Clementi Mall, 321 Clementi, and Grantral Mall. Some of the nearby schools include Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.
Lee Tong Voon, CEO of MCL Land, notes that Elta is designed to provide an elevated living experience, with its high-rise towers strategically positioned to offer stunning views of the city, Pandan Reservoir, and the sea. Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), adds that Clementi is a popular and vibrant town, seamlessly blending traditional stores with modern conveniences.
Expected to receive its temporary occupation permit in 2028, Elta will feature 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner.