Sceneca Residences condo launch delayed by no-sale licence

Sceneca Residence condo launch delayed by no-sale licence

Straits Times 28th July 2022

When will Sceneca Residences be launched? Can I have the floorplans of Sceneca Residences?

These are just some of the questions or requests I have been receiving regarding Sceneca Residences months ago!

While I can share an overview about Sceneca Residences, details such as floorplan and specifications are still underway.

So all I could reply was "I am still waiting for the developer to share more information."

For some background information about this highly anticipated new launch, Sceneca Residences. This project by MCC Land is an upcoming mixed development in Tanah Merah. Seamless direct access to Tanah Merah MRT station.

When I am being asked to share more information about the project recently again, I could only reply (my guess) "The new launch for Sceneca Residences has probably been delayed"

Looks like my prediction was right.

Sceneca Residence condo launch as been delayed by a  

no-sale licence as reported by ST on 20th July 2022

Does this scenario sounds familiar?

If you recalled, the recent reported "100% Fully sold out" Normanton Park was also hit with a no-sale licence back in January 2019.

Normanton Park, a 1,862-resdential units and 8 strata commercial unit leasehold condomium has its launch delayed for nearly tow years. The project was eventually launch in January 2021. Despite the delay in the launch, the Developer, Kingsford Huray Development sell out by June this year 2022. This unprecedented feat is accomplished in just 18 months, a short period of time for a sizeable project such as Normanton Park! This is ahead of the original deadline estimated to be by early 2023. Otherwise, the Developer will risk incurring Additional Buyer's Stamp Duty.

The delay of the launch - Sceneca Residence by a no-sale licence = further tightening the new condo supply in the current market

Is the robust demand for properties out pacing the constraint properties supply? With rising interest rates and the risk of a downturn economic slowdown, do you think real estate developers will lower the prices of their upcoming residential launches?

Let's chat

And going back to the highly-anticipated new launch - Sceneca Residences, more details and information will be released once we obtain more updates from MCC Land and URA.

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Source: Straits Times, URA