One Bernam, developed by HY-MCC (Bernam) Pte Ltd with China Jingye Construction Engineering (S) Pte Ltd as the main contractor, this mixed-use development has a project size of 3,846 square metres and a gross plot ratio of 7.28. The 99-year leasehold project is a 35-storey development comprising two-storey commercial, one-storey service apartments, 32-storey residential flats with a total of 351 units, with swimming pool, communal facilities, and a multi-storey car park.
|Project Name||One Bernam 柏南华庭|
|Developer||HY-MCC (Bernam) Pte. Ltd.|
|Address||1 Bernam Street, Singapore 078852|
|Tenure||99 Years commencing on 10 December 2019|
|Description||Proposed erection of 35 storey development comprising 2 storey commercial, 1 storey Serviced Apartments (13 units), 32 storey residential flats (351 units) with swimming pool and communal facilities, basement carpark and multi-storey carpark|
|Site Area||3,846.2 m2|
|Gross Plot Ratio||7.28|
|Approved Plot Ratio||7.82|
|Expected Vacant Possession Date||31 March 2026|
|Total No. of Units||351 residential units (1-3 Bedroom & Penthouse)|
|No of Storeys||35|
|Carpark Provisions (Residential)||178 Lots (inclusive of 6 Carpark Lots (comprised in 3 Accessory Lots) for penthouse units and 2 Accessible Lots)|
|Architect||DP Architects Pte. Ltd|
|Landscape Architect||DP Green|
|Main Contractor||China Jingye Construction Engineering (S) Pte. Ltd.|
|M&E Consultant||United Project Consultants Pte. Ltd.|
|C&S Consultant||TW-ASIA Consultants Pte. Ltd.|
|Land Surveyor||How Huai Hoon Surveyors|
|Acoustics||Alpha Acoustics Engineering Pte. Ltd.|
|ESD||DP Sustainable Design Pte. Ltd.|
|ID||ASDA Pte. Ltd.|
The site located near Tanjong Pagar MRT station, attracted 4 bids, with the highest by Hao Yuan Investments at $440.9 million. This translates to a land rate of about $1,463 per sq ft per plot ratio (psf ppr).
Located at the heart of the Central Business District (CBD), One Bernam is served by the Tanjong Pagar MRT Station, and the upcoming Prince Edward Road and Maxwell MRT Station, as well as the Ayer Rajah Expressway (AYE), the Marina Coastal Expressway (MCE), the East Coast Expressway (ECP). Within reach are Cantonment Primary School and the National Library, while VivoCity is just a short drive away. One Bernam also enjoys proximity to Marina Bay Sands and Great World City.
Based on the bid price of $1,463 psf ppr submitted by Hao Yuan, Christine Li, Cushman & Wakefield (C&W) head of research for Singapore and Southeast Asia, estimates the breakeven price for the new project to be about $2,100 psf, with selling price of around $2,430 psf, assuming a 15% profit margin.
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A reputable Singapore-based developer with a solid portfolio of residential properties, HY Realty is relatively young in the market but backed by China’s Hao Yuan Group Pte Ltd, and is also a subsidiary of HY Realty (Dundee) Pte Ltd. The latter, in partnership with MCC Land, recently launched the luxurious Queens Peak condominium, located well within the prime fringe of the city’s central region.
In recent years, HY Realty has launched in different lucrative locations, showcasing its flexibility in developing both high and low-rise residences. They include Sea Horizon in Pasir Ris, The Nautical condominium in Sembawang, and both the Northwave and Forestville executive condominiums in Woodlands.
MCC Land (Singapore) Pte Ltd is a subsidiary of Metallurgy Corporation of China, which is listed in Hong Kong and Shanghai. Its main business involves urban development as well as property development management.
A Fortune 500 company, MCC Land has been instrumental in shaping the city landscape of Singapore by being involved in the creation of numerous notable landmarks, including Universal Studios at Resorts World Sentosa, and the Keppel Distripark. It has developed and managed a number of quality housing projects, from Build-To-Order residences to executive condominiums and private estates, such as Sceneca Residences, The Poiz Residences, The Canopy, Canberra Residences, Tre Residences and The Alps Residences. The Nautical, Northwave and Forestville were co-developed with HY Realty.
Ranked among Singapore’s top 10 real estate developers for three consecutive years, MCC Land has also won the “Asia’s Top Influential Brands” award.