Cornerstone EC at Punggol town’s Piermont Grand

Piermont Grand is the only fully-built executive condominium (EC) which was awarded the highly sought-after top executive condominium prize during the EdgeProp Excellence Awards 2023. The ceremony for the awards was held on the 6th of October the iconic EC project was recognized for its innovative designs, landscaping and innovative methods of development.

Lumina Grand showflat shows exceptional amenities and connectivity, which provides prospective residents with two advantages.

The project was on the projects on a shortlist that were visited by a panel of judges in the year-long competition; the site visit offered a first-hand view of the EC that is due to be completed on February. The judges were awed by Piermont Grand due to its diversity as a residential development that has won awards.

In the past, Piermont Grand won the Sustainability Excellence Award in the Uncompleted Residential (Non-Central) category at the EdgeProp Excellence Awards 2020. This EC project is developed jointly with mainboard members City Developments and TID Residential.

A tribute to Punggol’s heritage of kelong

The judges at the EPEA of 2023 acknowledged the architectural efforts from both the developers as well as the architects, P&T Consultants, which have ensured that the project is harmoniously integrated with the riverside landscape and is aware of already existing developments of residential homes around it.

The overall style and architecture that characterizes Piermont Grand was inspired by the fishing villages and kelongs which have settled in the Punggol region. The earliest colonists were the early settlers of this land and remained in the area in the 1800s to the 1980s after which they were moved to accommodate modern housing.

Piermont Grand scored very well in the category of landscape. Landscape consultant was the local landscaping studio Tinderbox.

Cascading water features highlight the landscape areas throughout the development including the waterfalls that highlight the main entrance, to the impressive infinity-edge lap pool with a view of My Waterway @ Punggol, an artificial waterway that crosses Punggol New Town.

The landscaping areas of the project are complemented by the architectural designs of the recreation and facilities decks, with designs that evoke the stilt structures of the traditional Kelongs.

A few of the water recreational facilities on the Piermont Grand include a family pool and a dipping area as well as a kids’ play pool and the hydrotherapy pool. Additional amenities include the gym, a BBQ area and observation point, a playground and fitness area outside barbecue pavilion, a the community garden, reading areas cabanas, and a tennis court.

It is located on Sumang Walk, Piermont Grand completes all the developments that are located in My Waterway @ Punggol, and is part of awards-winning housing developments for public housing like Waterway Cascadia as well as Waterway Terraces I and II, as well as the an integrated project called Waterway Point.

The development is near Sumang as well as Nibong LRT Stations, which are linked via Punggol MRT Station and Bus Interchange. Nearby, restaurants, shopping and entertainment options are located in Waterway Point, Punggol Plaza and Oasis Terraces.

A high take-up

Piermont Grand comprises 13 blocks of 10- to 18-story residential towers. The 820-unit development comprises three-to-five-bedroom apartments which range from 840 to 1,701 sq feet in size, and 54 three- and five-bedroom penthouse units ranging from 990 sq ft to 1,701 sq feet.

The awards-winning qualities associated with Piermont Grand translated into strong sales for the EC. The project was announced to be sold in July of 2020. The opening, on the weekend of July 27 – 28 saw the sale of 375 apartments (46%) snapped up by interested buyers. Prices starting at $888,000 for a three-bedroom unit while the five- and four-bedroom properties were selling for $1.34 Million between $1.34 million and $1.5 million.

As per developer sales figures according to developer sales data, the EC was around 70% sold within one year after its introduction and was sold out at the end of 2021. According to the transaction data collected through EdgeProp Singapore, the steady taking-up rate was also reflected in positive price rises.

In July 2020, the median selling price was around $1,080 per sq ft, and then it increased to $1,175 psf by the end of July 2021. When the development was sold out completely in December 2022, it was around $1,338 per square foot.

As per the caveats, most expensive unit that was sold in Piermont Grand is a 1,507 sq ft, five-bedroom property located on the eighth floor. It sold for $1.831 million ($1,216 per square foot) during the month of December. It was followed closely by the sale of a second 1,507 sq ft, five-bedder on the 13th floor. This deal was negotiated by developer developer at a cost that was $1.827 million ($1,213 per square foot) in November 2021.