This initiative is expected to create 28,000 tech jobs and demand in the properties in the area for rental and sale. An approximate estimate of 820 residential units will be expected to yield for the EC project on the Sumang Walk Site. This 2.7 ha land parcel is adjacent to My Waterway @ Punggol, and will bring about convenience and value to the residence.
Executive Condominium (EC) is generally considered a sound investment, as it is a hybrid of public-private housing. EC owners will be pleased to know that 10 years after an EC project completion, the resale conditions will completely be lifted, and future sellers can sell their units as though it is a private condominium.
Sumang Walk site was the only EC plot that was offered for sale in the Government Land Sales (GLS) Programme for the whole of last year.
Source: Straits Times
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