History Of Sentosa Cove

Sentosa Cove

Sentosa Cove is an integrated residential-cum-marina resort development on the eastern coast of Sentosa island, to the south of mainland Singapore. It is largely a residential estate, featuring Singapore's first and only gated residential community. When fully developed by 2014, it will have about 2,100 homes, which will range from high-rise condominiums to luxury bungalows with adjoining private berths for boats. The development also offers an exclusive marina club with berthing facilities for mega-yachts as well as a hotel and retail outlets in a centralised commercial precinct. The master developer is Sentosa Cove Pte Ltd, a wholly-owned subsidiary of Sentosa Development Corporation (SDC), a statutory board.

History

The land that Sentosa Cove sits on consists partly of reclaimed land and partly of what used to be an isle called Buran Darat that was situated east of Sentosa. In the 1970s, the government's plan for Buran Darat was to develop it into a recreational centre with a swimming lagoon and facilities for water sports such as boating and canoeing. There was also a proposal to build a bridge to link it to Sentosa. By the late 1980s, the plans had changed. The narrow channel separating Buran Darat and Sentosa was to be reclaimed, and high-end residential homes, a world-class marina and resort-related facilities were to be developed on this new part of Sentosa.

In 1991, SDC engaged French architect Bernard Spoerry, known for creating the famed seaside town of Port Grimaud in France, to help draw up a land-use master plan for the development of the area, which was then still referred to as Buran Darat. McKerrell Lynch Architects from Australia and Klages, Carter & Vail from the United States were later brought in to enhance the concept, which was originally modelled after Port Grimaud.

SDC's proposal to build a high-quality residential-cum-marina resort development on the eastern coast of Sentosa was incorporated into the Southern Islands development guide plan released by the Urban Redevelopment Authority in April 1996. By then, the area had been named Sentosa Cove, with SDC having formed a new subsidiary of the same name in 1995 to focus on the development and management of the area. In October 1996, parliament passed a bill to amend the Sentosa Development Corporation Act to allow SDC to develop and manage the Sentosa Cove project.

While the master plan for Sentosa Cove was being drawn up, SDC proceeded with the necessary works to prepare the area for the upcoming developments. Reclamation works to merge Buran Darat with Sentosa started in November 1991 and were completed in September 1993. Soil improvement works, infrastructure construction and landscaping began in 1994. The marina was in operation by 1999 and the sale of land parcels for private development commenced in 2003. In total, SDC reportedly spent about S$250 million on infrastructure development for Sentosa Cove.

The land sale programme was initially scheduled to start in the second half of 1994 but was postponed several times. Much of the delay had to do with unfavourable conditions in the property market, such as during the 1998 and 2001 recessions. Another obstacle that SDC faced was that the land for Sentosa Cove had to be purchased from the Singapore Land Authority but the land price proved to be a major sticking point in negotiations. The negotiations, which started in the mid-1990s, were finally concluded in early 2003 and the first batch of land parcels was launched for sale in October 2003. By 2008, all land parcels had been released for sale.

The residential land sales attracted much interest from individual buyers and developers, both from Singapore and overseas. Part of the appeal of the individual bungalow plots stemmed from the fact that their buyers would be able to design and build their dream homes from scratch, as opposed to buying the homes sold by developers. Nonetheless, the various projects launched by developers on Sentosa Cove have also been highly sought after since the first was launched in November 2004.

Description

Sentosa Cove covers an area of 117ha made up mostly of reclaimed land, including five artificial islands called Coral Island, Paradise Island, Treasure Island, Sandy Island and Pearl Island. Most of the land is designated for residential accommodation, with the five islands reserved for bungalows. The residential developments are clustered in two main areas, the northern precinct and the southern precinct. When fully developed by 2014, Sentosa Cove will have an estimated 2,100 homes, made up of condominium units (which will form the bulk of the homes), terrace houses and bungalows.

As of April 2009, about 1,700 people were already living in Sentosa Cove. This number is expected to grow to about 10,000 by 2014 and it is believed that more than half of these residents will be foreigners. While foreigners do not face any restrictions in buying the condominiums here, they have to obtain government approval for purchases of terrace houses and bungalows just as in other parts of Singapore. However to make it easier for foreigners to buy landed homes in Sentosa Cove, the government had cut the time taken for their applications to be approved, reflecting the strategic value that it placed on the project. The processing time for applications by foreigners to buy landed properties in Singapore usually takes several weeks, but this has been shortened to just two days for purchases in Sentosa Cove.

In addition to the residential estates, there is also an exclusive marina club in Sentosa Cove called One°15 that is already in operation. The marina at One°15 has 270 wet berths including 13 for mega-yachts, making it the first in Singapore and one of the few in the world that can accommodate such large vessels, which are at least 85ft long. Complementing the residential and marina developments are a 320-room five-star hotel and a three-storey commercial complex offering a wide range of shops, food and beverage outlets and other amenities. One°15, the proposed hotel and the upcoming commercial complex are located in the central marina precinct, which lies between the northern and southern residential precincts.

Author

Valerie Chew

Source: Singapore Infopedia http://eresources.nlb.gov.sg/infopedia/articles/SIP_1547_2009-07-27.html

To View More Click HERE

ELIGIBILITIES 

Foreigners are eligible to buy villas subject to terms and condition. Invest in a Sentosa Villa and get your Singapore Permanent Residency! 

We provide assistance to foreign buyers / investors in arranging bank mortgage loans if required.

We also recommend competent local lawyer/s to assist buyers in their investment or purchases.

Buy, Sell, Rent, & Property Management.

Sent us an email with your interest, we will sent you more information and latest update.

Price and availability are subject to change without notice.

Contact Person:

John Goh

Mobile: +65 90277705

Email: johngoh77@gmail.com

CEA: R019853Z

Propnex Realty Pte Ltd

License No: L3008022J

#sentosabungalow #sentosacove #sentosaparadiseisland #sentosacovepearlisland #sentosabungalowforsale  #sentosacovebungalow #sentosacovelanded