At a glance: Surrounded by amenities on all sides and a short walking distance away from the Bedok MRT station, Sky Eden@Bedok offers immense convenience if you are planning to buy for own stay. But it’s also a worthy contender for short to long-term investment, owing to a lack of current and future competition in the neighbourhood. We check out what’s in the area and look at what to expect in terms of pricing for this upcoming development set to launch in September 2022.
|Chempaka Development (Subsidiary of Frasers Property)
|1 Bedok Central
|Land Size (sqm)
|Total Residential Units
|No. of Block
|2- to 4-bedroom units
|Nearest MRT Station
|Bedok MRT station on the East-West Line
|Primary Schools Within 1 km (estimated, actual distance will be determined by block)
|• Bedok Green Primary School
• Fengshan Primary School
• Opera Estate Primary School
• Red Swastika School
• Yu Neng Primary School
|Nearby International Schools
|• NPS International School (~12-min drive)
• Global Indian International School (~12-min drive)
For those who live in the east, and in Bedok in particular, the former Bedok Point would hold fond memories as one of the first malls in the area. Back in the day, it was known as a bit of a foodie haven, but was soon overshadowed by its spanking new and larger cousin, Bedok Mall. In due course, because of Bedok Mall’s closer proximity to the MRT station and a lack of major anchor tenants, Bedok Point saw a rapid decline in footfall, eventually shutting its doors for good on 1 July 2022, after sustaining for 11 years.
And what should take its place, but the upcoming Sky Eden@Bedok? Frasers Property has decided to redevelop Bedok Point into a mixed-use development, comprising 12 commercial units on the first storey and residential units on the upper floors.
A cursory glance at the area will tell you a residential-commercial entity will do a lot better for the developer than an all-commercial one like Bedok Point was, mainly because the area’s already saturated with shops as well as two malls, with a diverse mix of retail and F&B and the advantage of being located closer to the MRT (Bedok Mall even has direct access). So it takes quite a bit to be more attractive than that. Frasers’ move to turn the site into a mixed-use development is therefore a cleverly calculated one, and it’s reasonable to expect that Sky Eden’s going to be really popular when it launches in September later this year.
What’s around the area?
Sky Eden@Bedok’s located right in the centre of everything, so the 12 commercial shops within the project isn’t really going to contribute much to the already bustling neighbourhood. It should be interesting to see who the retail tenants are going to be though, and how they will add to the area.
The Bedok Town Centre is located right next to the project, so you are just doorsteps to a ton of retail and food options as well as large supermarkets like NTUC Fairprice and Sheng Siong. The Bedok public library and Bedok polyclinic are also situated within the vicinity.
And if those weren’t enough, you also have mid-sized shopping mall, Bedok Mall, located a 5-min walk away from the development. You’ll probably find most of what you need in the numerous shops and F&B outlets there, with Fairprice Finest as the anchor supermarket. If not, head down to the smaller Djitsun Mall Bedok located just behind.
Weeknight dinners are sorted with the cheap hawker fare around. You have two options within a short walking distance: the Bedok Interchange Hawker Centre next to the mall or the Blk 216 Bedok Food Centre and Market, both of which see a constant buzz of activity.
When it comes to convenience, there really isn’t much more you can ask for. The downside to all this though is that things are always moving and bustling in the area, so if you are looking for a home that’s on the quieter side, this really isn’t it.
We also don’t know how the stacks at Sky Eden are arranged at the moment, but there’s a chance—because of where the development is located—that some of them may be overlooking the aboveground MRT tracks so do keep a look out for that when it comes down to choosing your unit.
For those that like their parks and green spaces, unfortunately, there isn’t a ton of those nearby either. But the Bedok stadium is nearby (11-min walking distance), so you can go for your regular runs there.
In terms of public transportation, getting to Bedok MRT station along the East-West Line will take you about 5 mins to reach by foot. From Bedok station, it’s a reasonable distance to several commercial nodes. It will take just 3 stops to Paya Lebar and Changi Airport and 9 stops to the CBD (Raffles Place). A big plus if you are considering it as a rental investment.
While Bedok MRT isn’t an interchange that is linked to other lines, it’s still relatively accessible. To cross over to the Circle and Downtown Lines, it will take 3 stops each from the station, so that’s still pretty convenient.
The Bedok Bus interchange is integrated with the train station, so you also get access to quite a few bus services that take you anywhere from Buona Vista to Toa Payoh and places in between.
For those with their own means of transport, driving out to Changi Airport is a convenient 10 mins, while getting to the CBD and Orchard Road will be a bit of a longer drive out and will take you about 20 mins.
Sky Eden will presumably be popular with young families as well, owing to the fact that it’s located within a 1-km distance to at least five primary schools. It’s also a short driving distance to two international schools, which is something to consider if you are planning to rent out your unit to expat families.
A word about the developer
Details for Sky Eden are still preliminary, so we can’t provide concrete information on the facilities or the units available. But the developer’s credible repute should put your mind at ease. Frasers Property has an extensive portfolio all around the world and a pretty solid track record for their residential homes in Singapore so you are definitely in experienced hands.
Recent and more notable residential projects by Frasers include 8@Mount Sophia, eCo at Bedok South Road near Tanah Merah MRT as well as ClementiWoods Condo. You’ll find that their concepts are usually pretty diverse, taking into account the environs they are situated in, so you can be sure they will do the same for Sky Eden@Bedok.
The site isn’t overly big, so there may be some restrictions in terms of what they can do. But it’s clear, from the name and confirmation from URA, that it will be relatively tall at with 17 storeys, on par with some of the nearby residential buildings. The car park will be across two basement levels.
If you are wondering whether Frasers has any experience with mixed-use developments, check out their newest (and we think pretty cool) launch, Riviere. It sits at the site of the former Zouk along the Singapore River and will be mixed-use, comprising commercial units and serviced apartments alongside residential homes.
Pricing expectations + rentability
What’s really exciting about Sky Eden is that it’s the first new launch in this Bedok neighbourhood in a decade. Has it been that long? Apparently. The last launch in the area was 583-unit Bedok Residences back in Nov 2011. That project that sits atop Bedok Mall attracted a ton of fanfare back in the day, and saw 400 people queuing overnight before its official launch.
Image credit: Iamarchitect
With just Bedok Residences here, this area is really in need of fresh supply, which means that when Sky Eden launches, we are anticipating pretty high demand for the units and prices are likely going to commensurate with that. Because this project’s a redevelopment (rather than new built) and there aren’t many new launches in the area to compare it with, it’s difficult to give a ballpark price range of what to expect.
But if we look at Sceneca Residence, a D16 property that is also planning a September (or October) launch, we might get a sense of how much the units will go for at Sky Eden. There’s a chance that Frasers Property will take a wait-and-see approach and take the lead from Sceneca in terms of pricing. We previously did an in-depth review for that property, so we won’t go into full details here, but analysts have estimated that units in this project next to Tanah Merah MRT station will go for around $1,700 psf to $1,800 psf based on the land rate.
Like Sky Eden, Sceneca Residence is also mixed-use and near the MRT station. But it lacks somewhat in other surrounding amenities. While Sky Eden’s bursting with amenities convenience, Sceneca really only has the doorstep entrance to Tanah Merah MRT station going for it, with no malls or shops nearby save for the ones within its own premises, and most food options are about a 10-min walking distance away. Because it edges out in terms of convenience, Sky Eden may therefore be priced higher.
Not only is fresh supply low in this area, competition is also low in Sky Eden’s immediate surrounds. This makes it a decent project to consider if you are thinking of investing in the short term.
Prices are also likely to remain stable or appreciate in the medium- to long-term due to a lack of competition and the fact that it’s in an already matured area that is unlikely to see future condos sprouting up here—only several small reserved sites in this Bedok town (see those bright yellow rectangles in the URA map below) remains.
As is the case with nearby Bedok Residences, which was completed in 2015. The leasehold condo was launched at average prices of $1,350 psf back in 2011. Today, transacted prices average $1,509 psf. Just in April this year, it hit the highest transacted price of $1,694 psf.
On the flip side, a lack of future developments in the area can also mean price stagnation or a slower price growth, so that’s a risk you will have to consider when the prices are released for the development.
Close proximity to amenities and a short walking to the MRT are big factors in driving up Sky Eden’s rentability. Add to the fact that it’s also near several business entities just across the road (the entire place gets really busy during weekday lunch hours) and its proximity to several commercial nodes including Changi Airport and Paya Lebar Quarter, it makes for a pretty attractive rental area.
But as the units at Sky Eden start at two-bedders, you are looking at tenants that have families or don’t mind sharing rooms and apartments, so that does eliminate single professionals who want their privacy and are paid well enough to get their own space.
Bedok Residences saw 8 new rental contracts in June last month alone, so we can definitely see there’s demand here. Based on the June 2022 data, two-bedroom units signed a monthly rent of between $2,900 to $4,000, while 3-bedroom units were going for $6,300 per month.
All in all, we’ll have to wait till we can get a better gauge of how much the units are going for at this development to make a more accurate assessment. But there’s undoubtedly lots of potential here, and it’s definitely worth checking it out when it launches, assuming the units haven’t already been snapped up by then.