Que Neo, a Singaporean entrepreneur and boutique property developer, has a vision to create residential projects that he would want to live in. His latest project, K Suites, is a 19-unit apartment block developed by his subsidiary company, EG Properties, located along Lorong K Telok Kurau in the desirable District 15 on the East Coast. The project is estimated to obtain its temporary occupation permit (TOP) by the first quarter of 2025.
One of the main draws of K Suites is its prime location, offering convenient access to the beach, East Coast Park, shopping malls, the Central Business District (CBD), and Changi Airport. According to Neo, the East Coast Parkway and Pan-Island Expressway allow for a quick 10-minute drive to the airport and downtown area.
K Suites also offers easy access to public transportation, with a bus stop located less than 50 meters away. From there, it’s just a short two stops to the nearest MRT stations: Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Additionally, Eunos Station is only one stop from the Paya Lebar Interchange, providing access to the EWL and Circle Line, and five stops from the Bugis Interchange, connecting to the EWL and Downtown Line. Marine Parade Station is just five stops away from the Marina Bay Interchange, which connects to the TEL, North-South Line, and Circle Line. The TEL also offers direct train access to popular areas like Orchard Road and Woodlands North, which will also be linked to the Rapid Transit System (RTS) Station, connecting Singapore to the Bukit Chagar Station in Johor Bahru.
Additionally, K Suites is situated within close proximity to sought-after schools, including Tao Nan School, Haig Girls’ School, CHIJ (Katong) Primary, Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School. Families with young children will appreciate the fact that the project is just two doors away from PCF Sparkletots @ Joo Chiat, a popular preschool.
The apartments at K Suites are designed by JGP Architecture and feature a modern and sleek curtain wall system, allowing for natural light and unobstructed views of the surrounding area. The layout of the units is efficient and practical, with regular layouts, no bay windows or wasted corridors, and high ceilings ranging from 3.5m to 4.5m. The duplex penthouses are the most impressive, with a 7m ceiling height. The apartments are equipped with top-of-the-line German fittings from brands like Miele, Duravit, and Grohe.
Residents of K Suites will also have access to a range of facilities, including a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The project also offers a grand arrival and drop-off area, a surface car park with 16 parking spaces, and two electric vehicle charging stations.
Since the project was previewed in September 2022, the first phase of 10 units has been sold as of February 2, with the majority of buyers being Singaporean professionals such as doctors, lawyers, and executives. The development includes three-bedroom units ranging from 797 to 872 sq ft, and four-bedroom units ranging from 1,076 to 1,130 sq ft. The largest units at K Suites are the five-bedroom penthouses, ranging from 1,625 to 1,679 sq ft. Out of the four penthouses, only one is still available for sale. These units are especially popular among families, with one being sold to a family with four children, each child having their own bedroom. The ground-level units are also in high demand, with a ceiling height of 4.5m and views of the landscaped garden and facilities.
Neo mentions that K Suites is the most affordable new freehold project in District 15, making it a desirable choice for buyers. With the imminent TOP and the positive market sentiment, developer Euro Properties is releasing the remaining units in the development. The remaining three-bedroom units are priced from $2.058 million (equivalent to $2,582 psf), four-bedroom units start from $2.525 million (equivalent to $2,347 psf), and the sole five-bedroom penthouse is tagged at $3.5 million (equivalent to $2,154 psf).
In Singapore, investing in a condo carries an important consideration – the government’s property cooling measures. These measures have been implemented over the years to regulate compulsive buying and maintain a steady real estate market. One of the most significant measures is the Additional Buyer’s Stamp Duty (ABSD), which levies higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment.
According to Huttons Data Analytics, some boutique developments in District 15 have seen an appreciation in prices of over 100% since their launch. For example, units at Malvern Springs, launched in January 2002, have been sold at prices 234.2% higher. The monthly median rents at boutique condos in the Telok Kurau and Joo Chiat area have increased by 76.5% over the past five years, from January 2020 to December 2024.
District 15 has always been a popular choice for expatriates due to its location and lifestyle offerings, such as the beach, East Coast Park, and a variety of restaurants and shopping options. K Suites is expected to attract investors as well. Additionally, boutique developments have gained popularity since the COVID-19 pandemic, as they offer exclusivity, peace, and low-density living.