Riverfront Residences (former Rio Casa) at Hougang/Serangoon by Oxley-Lian Beng Consortium

Riverfront Residences, formerly known as Rio Casa and now a large scale development at Hougang/Serangoon.

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Riverfront Residences condo, formerly known as Rio Casa, at Hougang/Serangoon is an upcoming development slated to be launched by the buyers, an Oxley-Lian Beng venture.

This post will give you a review of Riverfront Residences, pricing, floor plans, site plan, showflat location and information you need to make an informed investment decision.

Use the following quick navigation content page or contact us immediately to register your interest in Riverfront Residences, the new condo on the site of the former Rio Casa.

Quick Navigation

  1. Condominium summary
  2. Key selling points
  3. Condominium location
  4. Unit mix
  5. Floor plans
  6. Pricing
  7. Showflat location
  8. Site plan
  9. Gallery and views
  10. Condominium facilities
  11. Surrounding amenities i.e. Transport, education, healthcare, shopping/entertainment and outdoor/fitness amenities
  12. Micro-market environment: Demand; supply; rents and yields; prices; land prices
  13. Interest rates
  14. Site background
  15. Contact us/register interest
  16. Other project information

Condominium summary

Project name Riverfront Residences (formerly Rio Casa)
Address Hougang Ave 7
District 19
Tenure 99 years
Total units 1,400 residential apartments
Developer Oxley-Lian Beng Venture
Site area 396,230 sqft
Gross floor area 1,100,000 sqft
Estimated launch June 2018

Riverfront Residences (former Rio Casa HUDC) at Serangoon/Hougang Video (<2min)

Key attractions

The Riverfront Residences is a historic property as it is one of Singapore’s few HUDC estates that were privatized and en-bloc’d for a historic high price in 2017.

  • Fantastic view of serangoon river
  • Walking distance to Hougang MRT and bus interchange
  • Quiet part of Hougang near the river

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Condominium location

Riverfront Residences which used to be Rio Casa is located along Hougang Ave 7, just off Upper Serangoon Road.

The project fronts Sungei Serangoon (Serangoon River) and is a short walk from Hougang MRT and the bus interchange.

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Unit mix

Given the large size of Riverfront Residences, there is expected to be about 1,400 units built on the former Rio Casa site.

Exact information on Riverfront Residences will be released shortly.

Given the strategic location and having a wide frontage of the river, many of the units will have great views of the river.

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Floor plans

Riverfront Residences is likely to feature a mix of 1-5 bedroom units on the 396,000 sqft site.

Many of the units will be functionally built, be in a North South facing direction and have views of the river.

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Pricing

Estimated pricing for Riverfront Residences will be about S$1,700 psf.

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Showflat location

The showflat location of Riverfront Residences will very likely be on the site itself given the large land area.

Stay tuned and contact us to be updated once the showflat address is released.

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Site plan

Stay tuned!

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Gallery and views

Stay tuned!

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Condominium facilities

Drawing a reference from D’Leedon which has 1,715 units and Interlace with 1,000 units Riverfront Residences’ facilities are expected to be comprehensive and varied.

There is likely to be multiple swimming pools, play areas for kids, gym, reading and study room, retail amenities, possibly childcare facilities, green areas and rest zones.

Stay tuned for confirmed information by Oxley-Lian Beng on Riverfront Residences’ condo facilities.

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Surrounding amenities

The following will give you an idea of the transport, education, healthcare, shopping/entertainment and fitness/outdoor amenities around Riverfront Residences.

Transport

Directly facing Hougang Ave 7, there are two bus stops outside Riverfront Residences.

Both bus stops have service 112.

Upper Serangoon Road is a major road, and bus services there include, 74, 102, 112, 113, 136, 147, 324, 571, 574 and 672.

This bus stop is a short 3 min walk from this project by Oxley-Lian Beng.

The Hougang MRT station is reachable by crossing Upper Serangoon Road, passing by Holy Innocents’ High School and a set of HDB block.

The Hougang Bus Interchange is also co-located beside the MRT station.

With the Cross Island Line expected to complete in 2030, some train enthusiasts have taken it upon themselves to figure out where the possible stations might be.

Based on JustRunLah, there is speculation that there could be a train station across the river from Riverfront Residences.

The area is presently a forest but based on URA’s masterplan, the area is zoned “Business”.

With commerce and business being conducted there, it may be feasible for a train station to be built.

This will benefit those at Riverfront Residences, the former Rio Casa HUDC.

The nearest expressway is the Kallang Paya Lebar Expressway (KPE) which is reachable by passing along Upper Serangoon Road and Buangkok East Drive.

Alternatively, motorists can drive further north via Punggol Road to Tampines Expressway (TPE).

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Education

According to OneMap, there are the following primary schools within a 2km radius of Riverfront Residences.

Within 1km

  • CHIJ Our Lady of The nativity
  • Holy Innocents’ Primary School
  • Punggol Primary School

Within 2km

  • Montfort Junior School
  • North Spring Primary School
  • North Vista Primary School
  • Palm View Primary School
  • Seng Kang Primary School
  • Xinghua Primary School
  • Xinmin Primary School
  • Yio Chu kang Primary School

Other secondary schools, institutes of higher education/learning, private and international schools include (not necessarily within 2 km)

Secondary schools:

  • Serangoon Secondary School
  • Montfort Secondary School
  • Xinmin Secondary School
  • Hougang Secondary School
  • Seng Kang Secondary School

Higher education:

  • Serangoon Junior College

Private and international schools:

  • Global Indian International School (Punggol Campus)
  • Dimensions International College near Kovan MRT

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Healthcare

Sengkang general hospital, specialist clinic and community hospital is a short 5-10 min drive north of the former Rio Casa site.

Shopping, entertainment, food, drinks etc.

There is no lack of shopping and entertainment amenities around Riverfront Residences.

Some of the amenities include the following

Shopping malls

  • Hougang Mall
  • Heartland Mall at Kovan
  • Compass One at Sengkang
  • Travelling further to Pasir Ris will bring one to Ikea, Giant Hypermart and White Sands

With the number of shopping malls that provide daily necessities and provide for discretionary shopping, residents are likely to find most if not all of their shopping needs met in the area.

The nearby Kovan area is a haven for foodies, with many eateries that open early in the day till late in the evening.

Breakfast, lunch, dinner and supper needs can all be met here.

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Outdoor/fitness amenities

For fitness enthusiasts, the Hougang Stadium, swimming complex and sports hall is near Riverfront Residences.

Actually, most residents will find their basic exercise needs met without having to go to Hougang stadium.

With Hougang Avenue 5 park, the Serangoon Park conenctor and Serangoon River right at the doorstep of Riverfront Residences, there is ample opportunity for residents to keep fit.

The Serangoon Park connector will lead joggers up north to Punggol Promenads Riverside Walk and My Waterway @ Punggol.

Going south, the park connector will lead people staying at Riverfront Residences to the Hougang Aver 3 park connector. Those adventurous enough will find themselves at Kallang Riverside near the MRT and a short distance from the Singapore sports hub.

There is certainly no lack of connectivity for those at this project.

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Micro-market environment

The following sections will provide a snapshot of the micro-market health where the Riverfront Residences is situated.

Surrounding projects

Projects in a 500m radius include Evergreen Park, Rio Vista, The Florida and Kingsford Waterbay.

Kingsford Waterbay is the newest project in the area and is still under construction as of writing of this review.

Evergreen Park, Rio Vista and The Florida TOP’d in 1999, 2004 and 2000 respectively.

West of Riverfront Residences and in between Hougang and Ang Mo Kio MRT are two new condominiums, namely Parkwood Residences (by Oxley) and The Garden Residences (by Keppel Land and Wing Tai).

Other nearby projects that are between 500m-1km include Boathouse Residences, Heron Bay, Midtown Residences, Naung Residence and Parc Vera.

Projects in the area are generally commanding yields of between 3% to 3.7%.

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Prices

Prices for new sale condominiums in D19 have been on an uptrend in the last 10 years, reaching approx S$1,375 psf as of Mar 2018, from S$830 psf 10 years ago.

riverfront residences d19 price

The newest project besides Riverfront Residences is Kingsford Waterbay.

The developer, Kingsford Property Development, has been selling units at a psf price of between S$1,300 to S$1,500 psf between Jan and Mar 2018.

Riverfront Residences is closer to Hougang MRT, and would therefore be commanding some pricing premium over Kingsford Waterbay.

Based on Squarefoot data, average prices for surrounding projects are as follows.

Project TOP Average price S$psf
Evergreen Park 1999 683
Rio Vista 2004 772
The Florida 2000 684
Midtown Residences 2016 1,307
Kingsford Waterbay U/C 1,400
Boathouse Residences 2015 1,024
Naung Residence 2015 1,202
Parc Vera 2014 960
Riversails 2016 1,002

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Interest rates

SIBOR rates have been relatively constant over the last 1 year.

1 month rates as of writing this review is 1.307% while 3 month rates are at 1.435%.

SIBOR the garden residences

Do check out the quick reference page we have on SIBOR and SOR rate

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Site background

SINGAPORE – Rio Casa, a privatised HUDC estate, has been sold for S$575 million to a joint venture company Oxley-Lian Beng Venture.

The JV partners are KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital. KSH Holdings said on Thursday (May 25, 2017) that the JV firm intends to apply for the grant of a fresh 99-year lease for the property and to redevelop the site.

“An estimated differential premium of S$208 million is payable to the State for the top-up of the lease and for the development of the site to a gross plot ratio of 2.8,” it noted in a stock exchange filing.

Rio Casa in Hougang Avenue 7 comprises seven blocks of 286 apartment and maisonette units. It has a site area of 36,811.1 square metres. Under the Master Plan 2014, the site is zoned for residential use with a gross plot ratio of 2.8.

This works out to a maximum permissible gross floor area of about 1.1 million square feet. KSH Holdings, which has a 35 per cent stake in the JV, said it will fund its portion of the cost of the purchase by internal resources and bank borrowings.

Oxley Holdings holds a 35 per cent interest, Lian Beng Group at 20 per cent and Apricot Capital at 10 per cent.

Source: Straits Times

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Here’s a bunch of other condos launching/launched in 2018 if you don’t know where to start

Other project information

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Feature image from Straits Times


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