Komorebi is the Japanese expression for the “sunlight as it filters through the trees”. Inspired by this serene setting, Parc Komo tries to replicate this through its design and ambience, enhancing wellness and social aspects.

Set in Changi, a rustic and slower pace compared to the rest of the rat race, Parc Komo gives you that desired retreat-feel every time you step back home, with the conveniences you need.

Summary

Developer: CEL Real Estate Development Pte Ltd

Plot Ratio: 1.4

District: D17/Upper Changi Road North

Region: RCR (Rest of Central Region)

Size: 18,754.9 sqm/201,877 sqft

Units: 276 residential units, 28 shops

Tenure: Freehold

Completion: TOP June 2023

Starting Price: averaging at $1493 psf

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Freehold condominium

Great amenities and conveniences for both families and individuals

Nearby education institutions

Close to Pasir Ris Park

Impressive resort-styled facilities

Room for capital improvement

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Low Level units – No vantage point
Aviation industry might take a while to recover from COVID-19
Appeals to only nature/water lovers
Limited unit count

Project Details

A window to the halcyon days of Singapore, Parc Komo is a freehold mixed development located off the junction of Upper Changi Road North and Jalan Miriam, and is sited among other condominiums and landed units. The project comprises seven blocks, five storeys high due to its proximity to the airport, with additional 2 storey commercial buildings of retail shops aptly titled Komo Shoppes. At 276 units, it achieved a sale of 70 units at its launch last year in May. Might not seem much but as of time of writing, it has achieved more than 48% sold, which is considerable. For more in-depth information, do contact PropertyLimBrothers here, or read on.

There is some debate on COVID-19’s crippling effect on the Aviation industry, but contrastingly, Singapore has reached some record highs in property purchases this year, so that’s good news for everyone.

About the Developers

A renowned developer in property investment and development, CEL Development is a wholly owned subsidiary of Chip Eng Seng Group succeeding in projects such as High Park Residences, My Manhattan, Alexandra Central and 100 Pasir Panjang just to name a fair few.

Purchase and Breakeven Price

Parc Komo, formerly location of Changi Garden, was sold in an en bloc sale to CEL for $248.8 mil in October 2018. Based on estimated calculations, the breakeven comes up to $1,334 psf ppr.

Currently, it is touted as the most affordable freehold in the market today.

Facilities

We were pleasantly surprised at the unique offerings. Most nature-inspired residences have a cookie-cutter style facilities, but trust us, you’ll want to look at how far the designers took the inspiration of nature to.

Technology and Environmentally Friendly Features

Smart Home technologies include digital locks via fingerprint, PIN, mobile app and key. Units come with Smart Home Hub and air-conditioning control which you can control the temperature via the mobile app and pre-cool your home.

Additionally, Parc Komo has app facility booking and a visitor management system. Smart Parcel Station guarantees seamless deliveries and with a bicycle maintenance hub to maintain your bike, it’s as good as it gets.

Accessibility and Conveniences

Parc Komo is well-connected to the rest of the island through PIE, TPE and ECP being just a short drive away. The ultimate take away for connectivity, is being 5 minutes away from Changi Airport.

Just a short drive to TPE can lead you to expressways KPE and PIE to reach your desired destinations.

You can also reach ECP shortly.

For those who prefer non-Grab/driving solutions, the options are open as well. Loyang MRT CR3 Station (Cross Island Line) is just 1.4km away. A walkable distance, or a 3-min drive.

However, its target completion is in 2029. The next nearest for now is Tampines East MRT Station, 2.1km and a 6 minutes’ drive. I think walks are healthy, but you might want to opt for a shorter walk to a bus stop and take bus 4 or 29.

For those intending to take buses, there’s buses 29, 2 and 5.
Bus 2 takes you towards Changi Village and Kampong Bahru.
Bus 5 takes you towards Pasir Ris Interchange, Thomson, Orchard Rd and Bukit Merah Central.
Bus 29 brings you around Tampines, ending at Tampines Interchange.

For pedalists, you are conveniently connected to the Eastern Coastal Loop Park Connector and to the rest of the connectors islandwide.

Let’s have a look at connectivity to recreational locations nearby.

Recreation

Food

The locale is no stranger to great food and spoilt for choice. Just 1.2km away is Cosford road, popular for their halal DuitSg Ikan Bakar and 555 Villa Thai.

Editor’s note: Villa Thai has a nice by-the-airport dining. Even if you’re not into Parc Komo, it’s something you should enjoy sometime.

Changi Village is famous for their hawker food, with the chicken hor fun and nasi lemak topping the list. The latter even started the Changi Village Nasi Lemak phenomenon (nasi lemak stalls tried to recreate their dish elsewhere).

There’s loads more if you venture enough, but we’ll move on to the ladies’ favourite — shopping.

Schools and Industrial Parks

As with all residences, it is vital to know Parc Komo’s vicinity to academia and work commute. For families with children preparing for primary school, White Sands Primary is just 1.1km away, with the rest in similar localities. Various secondary, tertiary and international schools are within reach, including SUTD, UWC East and the Japanese School.

For Business Parks, in case you’re looking at setting up an office nearby or looking for accessible workplaces, you will be elated to know how Changi is burgeoning with office and aviation opportunities, from Changi Business Park, Changi International Logispark, Changi Aviation Park and upcoming Changi East Industrial Zone; bringing the locale to be a thriving economic hub.

Future developments/ Master Plan

The Changi region is another focal area for growth and rejuvenation in URA master plans. As stated above, Loyang MRT Station is expected to complete in 2029, widening the accessibility, while the business and aviation parks are on its way. Singapore Expo is up for a massive infrastructural upgrade too, and will benefit from the international visits for conventions and the like.

Site Plan and Units

As there are limited units left, we will be covering only the relevant units. For more information, do contact us here.

 

 

The unit spread is pretty wide, but we’ll try to cover them the best we can based on its availability.

The 1-bedder suites are fully sold out, and are situated above the retail shops. The prices were pretty affordable.

1 Bedroom + Study

 

This is the 1 Bedroom + Study (1S1a) at 560 sqft. Located at Stack 42, the main difference from this layout compared to the rest of its counterparts will be its one square metre added to the balcony, giving a larger open space. While we do enjoy lively views of the kids pool, it is after all, a kids pool. So there will be some activities during the day. For a price of $890k, it fares better than the other available unit; 1S1b-G.

With the same 560 sqft located at stack 50, this ground floor unit comes with an exclusive loft in the master, paving way for the wardrobe below the loft. For a ground floor hitting the next price quantum northwards of $1 mil, we feel the latter is a better option. The weightage increases especially if you’re looking at a unit to rent out.

2 Bedroom Classic

The 657 sqft layout features a dumbbell layout with a well-utilised kitchen walkway from the entrance. 86 sqft is allocated for the balcony, which personally, is a large space that is copious for outdoor dining during the evenings. This layout is sited above the retail blocks and starts from $984k. With regards to availability, stacks 24, 77, 83 and 86 are sold out.

2 Bedroom Deluxe

That was a lot of layout configurations, but don’t worry, we got you covered. Ranging from 700-775 sqft, the main difference for 2D1 and 2D2 will be their mirrored layout and 1 sqm added for 2D2,  giving the kitchen more walkway space. The price quantum starts at $1.0X mil for 2D1, and $1.1X mil for 2D2. The quantum is quite close, so our advice is to pick based on the surrounding amenities of the stack. The same can be said for 2D3, with its 732 sqft and available starting price of $1.14X mil.

2D5 has a 721 sqft, and starts to feature a more private entrance. Other than that, the layout is the same. The price is going at $1.1> mil and is situated above the retail shops.

2D4 has been snapped up.

The 2D6, 2D7 and 2D8 layout differs ever so slightly with the orientation of the entrance, directionally giving you either more privacy or directly entering into the kitchen space. Currently, the 2D8 is available with 764 sqft and going at a price quantum $1.1X mil. Located at stacks 63 and 69, we strongly recommend stack 63, due to its spacious view. Below is the main pool, daybeds and garden, which is easily accessible just like the side gate (which is the main reason for the recommendation). In terms of layout, the kitchen is given a single elongated countertop which consolidates all the appliances.

There are ample choices for the 2 Bedroom Deluxe, however, 2D8 seems like the better choice in terms of layout and stack orientation.

Exclusively, the 2 Bedroom Penthouse is up for grabs. For more info, do contact PropertyLimbrothers here.

3 Bedroom Compact

3C1 has a more compact design out of these two, going at 915 sqft. Here, the entrance opens to face the dedicated kitchen area, separated from the dining and living space. The living quarters are consolidated, with its two bedrooms spacious for either a queen or king bed. We appreciate the private balcony of the master.

Comparatively, the 3C2 and 3C2a version is going at 969 sqft. We observed that for 3C2, the balcony does flush to the A/C Ledge’s railing, which may be the reason for its keen take-up rate.

With a starting price quantum at $1.4X mil, our suggestion is to go for stack 41. Don’t forget layout 3C2b-G, which is the ground floor with loft for its third bedroom.

3 Bedroom Deluxe

Families favour this layout, which probably is a contributing factor to the 3D1s getting snapped up faster. 3D1 is 1023sqft, while 3D1a is 1001sqft. Both layouts are similar with a dedicated kitchen space with two countertops lined at the sides, leading to the WC and utility area. With a rectilinear layout that ends at the balcony, the bedrooms share a common bath, with the master having its dedicated balcony. Notably, 3D1a has slightly smaller sqft due to the aforementioned balcony layout.

The price quantum for 3D1a starts at $1.5X mil.

 

This layout has a reduced 969 sqft, due to the removal of the master balcony. This might bode well for some, but take note that all three stacks for the 3D1b is located quite deep into Parc Komo. The price quantum starts lower at $1.4X mil.

For the ground units, we’re sure there is a niche market for these loft versions. The price starts form the $1.69X-1.77X mil. 3D1c-G is at 1012 sqft, 3D1d-G at 990 sqft and 3D1e-G is at 1033 sqft, with 3D1d-G at Stack 38 being our handpicked favourite. It is a quaint little corner of the development that is secluded from the rest, and away from the bustle of the amenities.

4 Bedroom Compact

The 4 Bedroom Compact has two variations: 4C1 at 1281 sqft and 4C1a at 1292 sqft, losing out on merely balcony space. The loft version 1302 sqft is still available, going at $2.1XX mil. The other two counterparts are going at the $1.9XX mil quantum. We recommend Stack 49, due to well, preferring the leisure pool to the kid’s one.

Comparative Analysis

Treasure at Tampines is one of the nearby launches with a tenure of 99-years leasehold for 2203 units. It has a breakeven of $1,139 psf ppr and similarly, is expected to finish completion by end-2023, which is pretty close to Parc Komo’s. Just for the sake of comparison, Parc Komo has a similar $1,334 psf ppr.

The immense number of units is no doubt an impressive feat, but considering the 6 hectare land space, common buyers’ concern will be overcrowding for common spaces; contesting with the current Tampines’s density. In fact, the total unit number is a combination of Parc Komo, Kopar at Newton, Leedon Green and Affinity condominiums, with ample to spare.

Comparing a 3 Bedroom Deluxe from Parc Komo vs 3 Bedroom Premium in Treasure at Tampines.

Firstly, let’s address the price point for both units. Parc Komo is nearly $100k up from Treasure at Tampines’s, which is going at the $1.4~ mark. This can definitely be attributed to its freehold status, and locality; Parc Komo is set among HDB houses, which not only contribute to the density of the place, but affects the general airflow to the development. Additionally, the Tampines Changkat Community club and Town Council is nearby, adding to the propensity of overcrowding.

Parc Komo’s example is set at the 4th floor (all the stacks are low-rise buildings to 5 storeys), while the Tampines comparison is set on the 7th floor. While this may bode well for high-rise lovers, the caveat is the HDBs within the vicinity will affect view. Parc Komo has a higher ceiling height of 3.15m, compared to Treasure’s 2.7m which has a tad more breathing space.

Next, let’s analyse the floor plans. Treasure gives you a smaller kitchen, but an added yard space and a sizeable utility. Parc Komo, on the other hand, presents an elongated kitchen, with a smaller utility and no yard area. Nowadays, drying machines are becoming a norm, and kitchen space is appreciated more.

The orientation of the dining space for Parc Komo is perpendicular to balcony view, which although is on the 4th storey, grants diners feel spacious; whereas for Treasure, you can achieve the same setting, but your dining table will jut out at the walkway.

The last point will be the balconies of Parc Komo’s: one is allocated beyond the usual living area and another private one for the master.  Treasure presents a larger balcony, but this extra space at the side will be left redundant.

Take note that the take-up rate for 3 Bedroom Deluxe at Parc Komo is pretty healthy, so if you are keen to make your next purchase, do contact PropertyLimBrothers here, where we ensure you get the most out of a purchase; i.e, making transactions as if they were our own homes.

Let’s compare other layouts.

 

We’re comparing both of these layouts due to the sqft similarity. On the 4th floor, Parc Komo’s 2 Bedroom Deluxe is on the 4th floor, Stack 59. Comparatively, the 2 Bedroom + Study for Treasure is on the 7th floor and transaction earlier in mid-Dec in 2020. From the table, the size of the both units are not far from each other, with Parc Komo fairing a tad larger. With $213k more, here’s what you actually get.

Layout-wise, Parc Komo offers a walk through kitchen, with a balcony. The living and dining area is consolidated, and a second balcony lies at the master. Side-by-side to Treasure’s B7S, there’s additional space in between the enclosed kitchen and dining/living space, and the living room balcony is slightly larger. However, a balcony is not available for the master.

Comparing a freehold to a 99-year leasehold with similar completion dates may not be the best scenario, especially when allocating your cash to a specific price quantum.

Comparing price to market

With $1.4 mil, you can get a 3-Bedroom Deluxe in Parc Komo. But what are your options with that amount of price quantum?

You could get a mid-floor 3 Bedroom Premium C9P from Treasure at Tampines as stated above, or you could for another 99-year leasehold Jovell, located at Flora Drive. In October 2020, a transacted price for a 3rd floor 3 Bedroom with Yard (3Y) with 1033 sqft was transacted at $1.25 mil.

Or you could get The Tapestry, which is another 99-year condo within Tampines. A previous transaction for the 1098 sqft went for $1.34 mil for the 3 Bedroom Deluxe C1(d). It includes a strata void area of 172 sqft above the dining and living areas, approximately 4.4 floor-to-ceiling height. It is a decent unit layout, albeit they are the top units on the 15th floor. The units below is 926 sqft and transacted at northwards of $1.2X mil.

Finally, at $1.35 mil, you could afford a 99-year semi-detached at Jalan Segam, which is not far off from Parc Komo. The obvious catch is that it is 45 years left of its lease, and you probably need to do your own Reno/A&A, raising the initial cash you have to fork out for.

Disparity Effect

To us, every dollar spent must equate to something of equal value, which is why sometimes investing in a unit that is say, $20-50k different from a larger and better facing stack, it might be a smarter option to go slightly above. Additionally, price between some units are pretty close, so we thought you’d like to know useful information like these too.

This is a unique case. Both units are priced very similarly and with generally similar orientation towards the north-west: $20k more for a same 969 sqft. 3C2a comes with a wider view for the living room balcony, with a second master balcony. 3D1a has a longer kitchen complete with a utility room and a WC. It does not come with a master bedroom balcony, though.

In summary, it just boils down to pragmatic decision and one that desires better views (which honestly, where Parc Komo lacks due to building height restrictions).

Next, we have the 4 Bedroom contenders.

4C1a is at 1292 sqft, at $1.947 mil for the 2nd floor unit in Stack 49. Observantly, for 4D1a, there’s a dry kitchen area with two countertops to accompany the living area, and has a deeper balcony space. 4D1a is 1421 sqft, priced at $2.029mil, and is similarly on the 2nd floor.

The dealbreaker, personally, will be the orientation. 4D1a fares better as it is in a quieter position, facing verdure, whereas 4C1a faces shared facilities. For that, and with an added dry kitchen, you will be parting with $82k.

Tenant Pool

With direct In the first few paragraphs of this article, we touched that the aviation industry is undoubtedly affected by the COVID-19 situation. Do note that Parc Komo will be completed in 2023, which the current situation may be eased up by then to pave way for tenants from the Changi North industrial area.

In the optimistic future where borders are eased, we can also expect tertiary students intending to study in SUTD. Let us not forget the constant stream of students from the Japanese School, which is highly sought-after and families are willing to live nearby for.

Frankly, if you’re a Japanese family, we’re sure you will be inclined to a residence that harks back to the well-known Japanese appreciation for nature.

Exit Strategy

With the upcoming Loyang MRT station in 2029, we can expect interest in the locale due to the accessibility boost. Furthermore, we can expect the exit strategy to be strong, due to Tampines’s concentration of HDB units in the area. It is a decent timing to exit after all, if Parc Komo completes by the stipulated mid-2023. Seller Stamp Duty is three years, so you can look at the HDB owners who reach MOP by 2026. You will realise though, that the Tampines district is quite large, and some of the BTOs are on the other end.

Here’s the list of HDB units in Tampines for that time period.

With the upcoming Loyang MRT station in 2029, we can expect interest in the locale due to the accessibility boost. Furthermore, we can expect the exit strategy to be strong, due to Tampines’s concentration of HDB units in the area. It is a decent timing to exit after all, if Parc Komo completes by the stipulated mid-2023. Seller Stamp Duty is three years, so you can look at the HDB owners who reach MOP by 2026. You will realise though, that the Tampines district is quite large, and some of the BTOs are on the other end.

In addition, the surrounding residences are of freehold statuses as well, but most, if not all of them, are relatively dated – almost 10 years or older. For residents looking to experience a modern layout and updated facilities, Parc Komo might be an option for them. The other 99-/999-year leasehold residents may also try something new, as well as secure a freehold status in the similar vicinity.

Verdict

Parc Komo is a unique setting to live in, and definitely a forever home to consider. The price, though a tad steep compared to 99-year leaseholds, is one of the latest freeholds in the Loyang area providing the state of the art for modern living. It’ll be a great place to wind down after work, to retire from the hustle and steal into the quiet.

Thanks for reaching the end of this article. If you’re still keen on purchasing a home at Parc Komo, do reach out to PropertyLimBrothers here.