SINGAPORE – The upcoming NoMa condominium is not the only residential development in Geylang that sits on a site once occupied by landed properties.
In recent years, a number of such properties have been bought over by real estate developers to build boutique-size condos.
Nearby, along Lorong 28 Geylang, for instance, is freehold La Brisa condominium, which has 84 units.
Approval was given in 2018 for property developer Macly Group to redevelop the five terraced houses it acquired into NoMa.
A plot ratio of 2.8 is allowed for a residential development on the site.
The condo, which is at the fringe of the red-light district in Geylang, will house one- to four-bedroom apartments when it is completed in 2023.
It will have facilities such as an infinity swimming pool, a calisthenics gym and a rooftop terrace.
As of Friday afternoon, 46 of the 50 units have been snapped up. Prices range from about $700,000 for a one-bedroom unit to around $2 million for a four-bedroom one.
The high demand comes as no surprise as NoMa is a freehold development with a good location in Guillemard Road, said Macly Group, which touts itself as a trendsetter for shoebox apartments.
The developer is behind several projects in Geylang, including Guillemard Edge and Cassia Edge.
NoMa is about 500m away from Dakota MRT and a 10-minute drive from the Central Business District.
There are also plenty of eateries and convenience stores just a short walk away.
Market watchers noted that the relocation of Paya Lebar Airbase by 2030 is expected to lift height restrictions on buildings in the area.
They said that with this change, real estate developers may target other freehold landed houses to possibly build taller apartments with more units in future.
Some landed properties there may then command higher prices.
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