There are many mixed developments in Singapore but there are only less than 10 integrated developments in Singapore. The terms “integrated development” and “mixed development” tend to be used loosely and interchangeably. However, there is a difference between the two. Usually in a mixed development, there will have a commercial element added to the new residential launch. For instance, like a couple of shops or offices providing convenience of retail outlets for your shopping or laundry needs.
However, for integrated development, the word ‘integrated’ implies a complete integration of amenities, retail space, transportation, dining, lifestyle components which may mean concierge services or a cinema and so on. Example, for NorthPark Residences, there will be more than 500 shops including a community club in the development. That is a huge difference simply because the true value of an integrated development will certainly command a better premium in terms of rental returns or capital appreciation in the long term. Research by Chesterton Singapore, a property consultant firm, mentioned that integrated development would generally be sold 10%~20% higher than those condos among the neighbourhood. The rental yield would likely be as high as 3.75%.
NorthPark Residences . a Rare Gem
There could only be one truly integrated development in one estate and simply there are not enough land for more in land scarcity Singapore, the rest could only be defined as mixed developments.
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♦ NORTHPARK RESIDENCES
♦ DEVELOPER: North Gem Development Pte Ltd (FCL)
♦ DESCRIPTION OF DEVELOPMENT: 920 units, Twelve 10-Storey Blocks integrated development
♦ ADDRESS: Yishun Central 1
♦ DISTRICT: District 27
♦ SITE AREA: Approx. 41,085 sqm
♦ TENURE: 99-Years
♦ NORTHPARK RESIDENCES TOP DATE.: Year 2020
♦ LEGAL COMPLETION DATE: Year 2023
♦ CAR PARK LOTS: 920 Car Park Lots and 7 Handicap Car Park Lots (all Lots located on 3rd storey)
♦ CEILING HEIGHT: 2.8mH for all except 4.5mH for 10th floor units
