Singaporean entrepreneur Que Neo, who is also a boutique property developer under Euro Properties, has his sights set on creating residential projects in the neighbourhoods he wants to live in. Most recently, his subsidiary EG Properties completed K Suites, a 19-unit apartment building in District 15’s prime East Coast area, along Lorong K Telok Kurau. The project is earmarked to obtain its temporary occupation permit (TOP) in 1Q2025.
K Suites’ biggest draw is its strategic location, which offers easy access to the beach, East Coast Park, shopping centres, the CBD, and Changi Airport. According to Neo, “With the East Coast Parkway and Pan-Island Expressway, it only takes 10 minutes to get to the airport and another 10 minutes to reach downtown.” The project, designed by JGP Architecture, features a modern facade with a curtain wall system that allows natural light to brighten up the interiors and provides unblocked views of the surrounding area.
Residents of K Suites will enjoy convenient access to public transport, with a bus stop less than 50m away. From there, it’s just two stops to the nearest MRT stations: Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Eunos Station is a single stop from the Paya Lebar Interchange (for the EWL and Circle Line) and five stops from the Bugis Interchange for the EWL and Downtown Line. Meanwhile, Marine Parade Station is just five stops from the Marina Bay Interchange (for the TEL, North-South, and Circle Lines) and six stops from Shenton Way in the CBD. Notably, the TEL provides direct train access to popular destinations such as Orchard Road and Woodlands North, which is also the Rapid Transit System (RTS) Station that will connect Singapore to the Bukit Chagar Station in Johor Bahru.
Apart from its excellent location, the project is also in close proximity to popular schools, making it a desirable option for families. K Suites is situated just two doors away from PCF Sparkletots @ Joo Chiat, a top preschool among young families. In addition, within a 1km radius of Telok Kurau are other well-known schools, including Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary. Prestigious secondary schools, such as Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School, are also easily accessible.
The government’s property cooling measures are an essential factor to consider when it comes to investing in Singaporean condos. Over time, the Singaporean government has implemented multiple measures to discourage speculative buying and promote a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and those purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they also play a crucial role in ensuring the long-term stability of the market, creating a more secure investment environment. As a result, condo investment in Singapore can be a wise and strategic move.
K Suites features a range of facilities for residents to enjoy, including a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The project is set back from the main road, allowing for the creation of a grand arrival and drop-off area. The surface carpark can accommodate 16 cars and two electric vehicle charging stations.
Since its preview in September 2022, the first phase of 10 units has already been sold out as of February 2021. The project has mostly attracted Singaporean buyers, many of whom are professionals, including doctors, lawyers, and corporate executives. The development offers four three-bedroom units ranging from 797 to 872 sq ft, and 11 four-bedroom units ranging from 1,076 to 1,130 sq ft. The largest units at K Suites are the five-bedroom penthouses, which have a ceiling height of 7m and range from 1,625 to 1,679 sq ft. So far, three out of the four penthouses have been sold, with the remaining unit up for sale. The penthouses have proven popular with large families, with one already purchased by a family with four children, ensuring that each child has their own bedroom. Most buyers are upgraders, drawn to the project’s freehold status and prime District 15 address. Others are downsizing from larger homes and prefer ground-level units with a ceiling height of 4.5m that overlook the landscaped garden and facilities.
Based on lodged caveats, the most recent transaction was for a 872 sq ft, three-bedroom unit on the fourth floor, which was sold for $2.13 million ($2,443 psf) in November. Neo claims that K Suites is the most affordable new freehold project in District 15 and with its impending TOP and the current positive market sentiment, the developer is releasing the remaining units in the development. Interested buyers can now purchase three-bedroom units starting from $2.058 million ($2,582 psf), four-bedroom units from $2.525 million ($2,347 psf), and five-bedroom penthouses from $3.5 million ($2,154 psf).
Despite the focus on large-scale projects, boutique developments such as K Suites have also garnered attention. Since the onset of Covid, some buyers prefer the exclusivity, tranquility, and low-density lifestyle offered by boutique developments. According to a study by Huttons Data Analytics, prices at selected boutique developments in District 15 have appreciated by over 100% since their launch. For instance, Malvern Springs, which was launched in January 2002, has seen units sold at prices that are 234.2% higher. Over the past five years, from January 2020 to December 2024, monthly median rents at boutique condos in Telok Kurau and Joo Chiat, such as the 127-unit Coralis, have risen 76.5%. With its prime location and attractive features, K Suites is expected to appeal to both investors and homeowners alike.