The upcoming mixed-use development One Holland Village in Holland Drive will feature 296 residential apartments, 255 serviced units, as well as retail, office and community spaces.
The residences will be open for sale on Saturday (Nov 30).
The retail space has already signed on a few companies, including supermarket Cold Storage, pharmacy chain Guardian, non-profit arts and culture organisation The Rice Company and movie theatre The Projector.
One Holland Village is being developed by Far East Organization and its joint venture partners Sekisui House and Sino Group, which bought the coveted site in May last year for $1.213 billion.
Mr Marc Boey, director of planning and acquisitions at Far East Organization, told a briefing on Wednesday (Nov 27): "We hope to add value and diversity to Holland Village.
"Having an exceptionally large development site – more than three football fields in size – at the heart of Holland Village gives us the opportunity to inject more varied uses and activities."
He noted that the merchants in the area now are mostly restaurants and cafes, adding: "Having new tenants like The Projector and The Rice Company will bring a new dimension and depth to the offerings here."
The commercial space will also include about 500 carpark spaces on two basement levels.
The residential units are split into three distinct blocks, each targeting a different market.
At the first block, levels one to 19 will house serviced apartments operated by boutique hotel Quincy, while levels 21 to 28 will have 27 luxury private units under Quincy Private Residences.
These will include three- to four-bedroom duplexes spanning 1,238 sq ft to 3,358 sq ft and 3,488 sq ft penthouse units. Homes in this section will have private lift access and come with concierge services.
The second residential element, called Sereen, will be a 34-storey block with 248 units, including one- to three-bedders spanning 484 sq ft to 1,098 sq ft.
The last block – named Leven – is a three-storey building inspired by walk-up apartments in Tiong Bahru and Chip Bee Gardens.
Leven, which will feature spiral staircases and a roof terrace, will consist of 21 two-bedroom units that span 807 sq ft to 1,087 sq ft.
Prices are expected to range from $2,400 psf to $3,500 psf.
One Holland Village will be completed in two phases. The residential zone comprising serviced residences and One Holland Village Residences is estimated to be finished by the end of 2024. The commercial zone should be wrapped up in mid-2022.
Mr Nicholas Mak, head of research and consultancy at ERA Realty, noted: "Holland Village hasn't really had any new retail developments in a long time. So this new development is a timely addition."
He added that since the area has also seen a recent influx of new condominiums and upcoming residential projects, the retail offerings will also be necessary as the area's population increases in the coming years.
"I think One Holland Village will help to boost the footfall in the larger Holland Village area since it will increase the retail choices for consumers," he added.
Written by Melissa Heng for The Straits Times.