MCC Land sets The Canopy EC launching this weekend

Eco- friendly project is built in a comprehensive range of amenities and schools in Yishun.

Developer MCC Land is launching its first residential project The Canopy EC at Yishun Avenue 11 this weekend. Applications are open from Saturday 9 to 13 October 2010.

The 99- year leasehold 406- unit project will offer a full range of condominium facilities and sizes range from 872 sq ft to 1,410 sq ft in two, three and four- bedroom configurations. There will also be 22 penthouses sized between 2,088 and 2,239 sf. Prices are expected to range between an average of $600 to $700 per square foot.

The Canopy is located in the well- established mature estate of Yishun, supported by a comprehensive range of amenities and schools. Within the grounds, the developer has paid a lot of attention to designing an eco- friendly project. BCA has awarded The Canopy the BCA Green Mark Gold Plus Standard.

Tan Zhi Yong, Managing Director, MCC Land said “We made a conscious decision to build a basement carpark to maximise greenery on the surface level. Given that we are catering to families with young children, we want to ensure that there are enough open spaces. The apartment sizes are relatively larger than previous EC projects. With its affordable pricing, we are confident that The Canopy will attract a lot of interest.”

MCC Land has been receiving a strong show of interest from potential buyers. Bookings start from 16 October 2010. CBRE has been appointed its marketing agent.

Joseph Tan, Executive Director, Residential, said “We expect keen interest from first- time buyers who will be able to make use of the $30,000 CPF housing grant, less immediate cash outlay compared to HDB resale flats and with no Cash Over Valuation to pay. according to a CBRE report.

Financing has also been eased for upgraders who need not pay a resale levy ranging from $15,000 to $50,000 when they buy a new EC flat. These conditions make for an attractive investment for investors with a medium- to- long term view”.

Executive Condominiums are making a comeback after a hiatus of five years as the government steps in to ramp up flat supply for middle- income home buyers.