The Brownstone EC – Business Times 2 May 2015

In the pipeline for executive condo launches would be The Brownstone EC by City Developments’ project at Canberra Drive, which it is jointly developing with TID Residential, a joint venture between Hong Leong Holdings and Mitsui Fudosan Co Ltd. Acquired in January 2014 at S$350 psf ppr, the land can yield close to 640 units.The consortium also acquired a site at Yishun Street 51 in May last year at S$330 psf ppr, which could yield some 490 units. These new batches of executive condo would be affected by resale levy while the existing ones such as The Terrace EC and Waterwoods EC are not affected.

Being one of the more attractive projects as it is within close distance to MRT stations and amenities, the Brownstone EC land parcels will have a pricing advantage given their lower land prices.

the brownstone ec - business times