Ola
Ola is one of the most consequential Executive Condo case studies on the resale market today, and the reason is timing. The 548-unit project on Anchorvale Crescent achieved TOP in 2021 on a 99-year lease from 2018, meaning the 5-year Minimum Occupation Period expired in 2026 — this review is being written in the first open-market resale window of the development’s life cycle. Developed by Anchorvale Pte Ltd, the Evia Real Estate plus Gamuda Land joint venture, Ola sits squarely in OCR District 19 inside the Anchorvale precinct of Sengkang, with Sengkang MRT (NEL plus LRT interchange) and Compass One as the anchoring transit-and-retail nodes. In our framework, a just-post-MOP EC with roughly 92 years of lease runway is a fundamentally different proposition than either a brand-new launch EC or a stabilised privatised condo — it is a narrow window where eligible SC and PR resale buyers can capture private-condo-grade product at EC pricing, before partial privatisation in year 6 to 10 opens the buyer pool wider and full privatisation in 2031 transforms the asset class entirely. We rate Ola 7.5/10 on the strength of its just-cleared MOP positioning, robust developer pedigree and Sengkang transit anchoring, with measured caution on the SC and PR-only resale restriction, the LRT-only second-tier access from many of its stacks, and the steady Anchorvale EC and HDB supply backdrop that will compete with it through 2031. The buyer who understands the EC lease-and-privatisation timeline will find Ola sits at a genuinely interesting inflection — the buyer who treats it as a generic resale condo will overpay and underread the framework.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Ola occupies a 188,000 sqft site on Anchorvale Crescent within the Anchorvale subzone of Sengkang Planning Area, classified OCR by URA. The 99-year leasehold tenure issued in 2018 leaves approximately 92 years remaining as of this review — well inside the lease-decay window that supports full CPF Ordinary Account usage and 75% LTV bank financing on the resale entry. As an Executive Condo, Ola is governed by HDB’s hybrid framework: at launch in 2018 eligibility was restricted to Singapore Citizen-led households (SC plus SC or SC plus PR) with combined monthly income capped at S$16,000; the development served the 5-year HDB Minimum Occupation Period from TOP in 2021 through 2026, during which whole-unit sale and rental were prohibited; from 2026 through 2031 the asset enters the partial-privatisation window where Singapore Citizens and PRs may purchase on the open market but foreigners and companies cannot; full privatisation arrives in 2031, at which point ABSD-eligible foreign demand can finally enter — see HDB EC rules for the canonical framework. The development comprises twelve blocks of mostly 15 to 16 storeys with 548 units spanning 3-bedroom (around 850 to 1,000 sqft), 4-bedroom (around 1,200 to 1,400 sqft) and 5-bedroom premium configurations, plus a 50m lap pool, tennis court, function rooms, gymnasium and themed landscape gardens. Sengkang MRT (NEL interchange with the Sengkang LRT loop) is roughly 8 to 10 minutes away on foot via Anchorvale Road, with the closer Farmway and Kupang LRT stations a 3 to 5 minute walk for second-tier rail access. Compass One mall, Sengkang Community Hospital, Sengkang General Hospital and Sengkang Sports Centre form the immediate retail-and-amenity envelope, while Anchor Green Primary, Springdale Primary and Nan Chiau Primary populate the educational catchment. Pressure-test the planning-area and transaction context on our price heatmap overlaid against the broader District 19 profile.
Overview & Key Facts
OLA is that increasingly rare thing in Singapore’s property market: an Executive Condominium that has crossed its Minimum Occupation Period, unlocking full resale flexibility while still trading at a significant discount to private condominiums. Jointly developed by Evia Real Estate and Gamuda Land, this 548-unit Spanish-themed development at Anchorvale Crescent in Sengkang was completed in 2023 and has quickly established itself as one of the most compelling value propositions in the OCR.
The numbers tell a persuasive story. At $1,722 psf, OLA undercuts most private competition in the north-eastern corridor, yet delivers a gross rental yield of 4.86%—among the highest for any development featured on ShiokNest.sg. Its profitability score of 99 out of 100 reflects consistent capital appreciation from a launch-era average of $1,159 psf to current levels, a gain of nearly 49% for early buyers. With nine 16-storey blocks spread across 184,465 sq ft of land, OLA offers the space and facilities of a mid-sized condo at EC pricing.
The Spanish-themed design—inspired by elements ranging from Eva Armisen’s art to Andalusian courtyards—gives OLA a visual identity that distinguishes it from Sengkang’s more utilitarian housing stock. Smart home integration via Samsung SmartThings adds practical modernity. For a comprehensive floor plan analysis, Stacked Homes’ review covers the layout trade-offs in detail.
Location & Connectivity
OLA occupies a corner plot at the intersection of Anchorvale Crescent and Anchorvale Street, placing it within the Sengkang heartland ecosystem. Cheng Lim LRT station is just 150 metres away—practically at the doorstep—and connects to Sengkang MRT and Bus Interchange in one stop. From Sengkang MRT, the North East Line reaches Dhoby Ghaut in roughly 25 minutes, where riders can transfer to the North-South or Circle lines for the CBD. It is functional connectivity rather than premium, and buyers should be realistic that the commute to Raffles Place involves a line change and about 35 minutes door-to-door.
Daily essentials are well covered. CompassOne (anchored by FairPrice Finest) is an 8-minute walk via Sengkang MRT, while the Sengkang Riverside Park and the broader network of park connectors offer excellent green space for runners and cyclists. Sengkang General Hospital and Community Hospital sit directly across the road—a genuine differentiator for families with elderly dependants. Schools are plentiful: Compassvale Secondary (500 m), Sengkang Green Primary (610 m), and Anchor Green Primary (740 m) are all within comfortable walking distance.
For drivers, the TPE, CTE, and KPE provide expressway options, though peak-hour congestion on the TPE remains a known pain point. The single vehicular exit onto Anchorvale Crescent can also bottleneck during morning rush across 548 units—a design limitation that residents have flagged. For area insights, 99.co’s OLA listing provides transaction trends and neighbourhood data.
Schools & Education
5 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Compassvale Secondary School | secondary | Within 1 km |
| Sengkang Green Primary School | primary | Within 1 km |
| Anchor Green Primary School | primary | Within 1 km |
| Greendale Primary School | primary | Within 1 km |
| Greendale Secondary School | secondary | Within 1 km |
| Compassvale Primary School | primary | Within 1 km |
| Sengkang Secondary School | secondary | Within 1 km |
| Seng Kang Primary School | primary | Within 1 km |
Facilities
OLA’s 184,465 sq ft site accommodates a generous spread of 45 facilities organised into four themed zones: Valleys of España (main pool, Casa clubhouse, palm cove), Paradise Glen (sensory garden, family plaza), Mystic Falls (kids’ pool, culinary cabana, grill station), and Fiesta Walk (pets’ corner, picnic garden, BBQ pits). The 50-metre lap pool is a genuine competition-length amenity—not a vanity label—and the tennis court is regulation-sized. A spa forest, indoor gymnasium, and dedicated yoga area round out the fitness offerings. The development also runs community programmes including yoga classes, baking workshops, and aqua zumba sessions—reportedly 500 free hours of activities for residents—which foster the neighbourhood-within-a-neighbourhood atmosphere that ECs do well.
“The atmosphere in OLA is always peaceful, and it never feels too crowded, even on weekends. The facilities are spread out enough that you can always find a quiet corner by the pool or at the garden pavilions. The kids’ play area is well-designed too—our two boys practically live there on Saturdays.”
— Family of four, 4-bedroom unit, resident since 2023
Unit Sizes & Layout
OLA offers a wide unit mix spanning 2-bedroom through 5-bedroom penthouses, catering to everyone from young couples to multi-generational families. The layouts follow a north-south orientation that maximises natural light and cross-ventilation while minimising direct afternoon sun—a thoughtful planning decision for a tropical climate. The 3-bedroom Premium and Deluxe variants (ranging from roughly 900 to 1,100 sq ft) represent the best balance of space and value, with separate kitchen and utility areas that EC buyers typically expect. Smart home features via Samsung SmartThings include app-controlled air conditioning (Sensibo), smart digital locks, automated blinds, and a connected dryer—practical additions that raise the baseline living standard above older resale ECs in the precinct.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 165 | $1,146 | $1,038,135 |
| 3 BR | 91 | $1,207 | $1,268,787 |
| 4 BR | 55 | $1,197 | $1,698,407 |
Pricing & Market Position
Based on 311 recorded transactions, sale prices range from $877,100 to $2,076,030, averaging $1,222,393 (~$1,735 psf).
Rents range from $4,500 to $4,600 per month across 2 rental transactions. Current rental yield sits at approximately 5.0%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 51.9% (from $1,159 to $1,760 psf).
Neighbourhood Comparison
OLA competes in a price band where every dollar of psf matters. Florence Residences ($1,741 psf) in Hougang offers Circle Line access and a larger 1,410-unit scale, but its yield and capital growth trail OLA’s standout numbers. Riverfront Residences ($1,583 psf) in Hougang is cheaper but further from MRT connectivity. Affinity at Serangoon ($1,697 psf) matches OLA on price and offers proximity to Serangoon MRT and NEX mall, making it the strongest direct competitor for buyers who want better centralised access. Chuan Park ($2,596 psf) operates in an entirely different price tier as a freehold redevelopment, attracting a different buyer profile altogether.
OLA’s trump card remains its EC heritage: the combination of newer facilities, smart home features, and a sub-$1,750 psf entry point at 4.86% yield is difficult to replicate with a private condo in the same geography. For buyers willing to accept the Sengkang location, it represents one of the most efficient uses of capital in Singapore’s suburban condo market. For EC-specific comparisons, New Launches Review’s OLA analysis provides useful benchmark data.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| OLA | 99 yrs lease commencing from 2018 | 2021 | 548 | $1,735 |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,746 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,589 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,699 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,735 |
Lease Decay Analysis
The 99-year lease runs from 2018, meaning approximately 8 years have already been consumed. Roughly 91 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~91 years | Full bank financing available |
| 2048 | ~69 years | CPF usage still unrestricted for most buyers |
| 2057 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2077 | ~39 years | Significant financing restrictions for next buyer |
| 2117 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~81 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates OLA across multiple dimensions.
What Residents Say
“We bought during launch at around $1,160 psf and watched the value climb steadily. The EC restriction period was a non-issue since we always planned to stay long-term. Now that it’s past MOP, we have the flexibility to rent out or sell, but honestly we’re in no rush—the living environment is better than what we’d get at the same price anywhere else.”
— Original buyer, 3-bedroom Deluxe unit
“The LRT is literally outside the gate, which is great for daily commuting. But when we need to drive out during rush hour, the single exit onto Anchorvale Crescent can back up for 10–15 minutes. That’s our biggest frustration. On weekends it’s fine, but Monday mornings can test your patience.”
— Working couple, 2-bedroom unit
“Having Sengkang General Hospital right across the road was actually a deciding factor for us. My mother-in-law lives with us, and knowing that emergency care is a 3-minute walk away gives the whole family peace of mind. The facilities are solid—we use the lap pool daily—and the community vibe among neighbours is genuinely warm.”
— Multi-generational household, 5-bedroom penthouse
- The MOP just cleared — this is the first open-market window in the asset’s life cycle. Ola exited the 5-year Minimum Occupation Period in 2026, meaning eligible SC and PR resale buyers face their first genuine entry point at private-condo-grade product priced inside the EC framework. Historically, just-post-MOP ECs see the cleanest pricing discovery before the year-6 to year-10 partial-privatisation buyer pool fully arrives — verify the relative pricing on our price heatmap.
- 92 years of lease runway is premium for a resale EC. Ola’s 99-year tenure from 2018 leaves roughly 92 years remaining — comfortably ahead of competing resale ECs from the 2010 to 2014 vintage that are already encroaching on the 85-year threshold where lease-decay starts to compress CPF and financing eligibility. Model the long-horizon cashflow via our lease-decay calculator.
- CPF Housing Grant stacking remains live for eligible first-timers. First-timer SC plus SC and SC plus PR resale buyers may qualify for the CPF Housing Grant on the EC resale entry, stacked against private-condo-grade facilities — the total subsidised cost profile is materially more favourable than equivalent private OCR product. Run the affordability math through our EC eligibility calculator.
- Evia plus Gamuda Land delivered institutionally credible construction. Gamuda Land’s Malaysian portfolio (Bandar Botanic, Horizon Hills, twentyfive.7) plus Evia’s Singapore EC track record (Westwood Residences, Lake Life) translated into measured layout efficiency and after-sales response on the Ola build — not boutique-developer quality, but solidly above the EC median.
- Sengkang MRT interchange is the anchoring transit asset. A 25-minute one-seat ride to Dhoby Ghaut and onward to Raffles Place via the NEL, plus the Sengkang LRT loop integrating Compass One and Anchorvale internal stops — the rail catchment is mature, not aspirational. Compass One mall (NTUC FairPrice, Kopitiam, cinemas) sits directly above the interchange.
- Comparable benchmarking against sibling ECs is favourable. Bellewaters (Anchorvale Crescent, 651 units, TOP 2017) and Riverparc Residence (Punggol Drive, 504 units, TOP 2014) sit one MOP cycle ahead of Ola in the privatisation timeline — their post-MOP price discovery is publicly observable on URA caveats, and Ola is currently trading at a measured discount to the like-for-like floor-and-stack equivalents in those sibling developments. Run all three through our comparison tool on a like-for-like basis.
- The buyer pool remains compressed until 2031 full privatisation. Through 2031, only Singapore Citizens and PRs may purchase Ola on the resale market — companies and foreign buyers are excluded entirely, and the ABSD-eligible foreign demand pool that supports outright price discovery on equivalent privatised stock simply does not exist here yet. The full open-market repricing event is still roughly five years out per HDB EC rules.
- LRT-only second-tier access is real for many stacks. While Sengkang MRT is reachable in 8 to 10 minutes on foot for the western stacks, the eastern blocks rely primarily on Farmway and Kupang LRT — the LRT loop, by design, requires interchange at Sengkang MRT for any onward NEL trip, which functionally adds 5 to 8 minutes versus a direct MRT-walking catchment. Buyers prioritising commute time should walk both routes before committing.
- Anchorvale supply backdrop is steady through 2031. The immediate vicinity has seen sustained EC and HDB BTO completions (Bellewaters TOP 2017, Bellewoods TOP 2017, plus multiple HDB precincts) — competing resale ECs entering their own privatisation windows over the 2026 to 2031 horizon will share the SC and PR buyer pool with Ola. Cross-reference the District 19 supply pipeline on our district profile.
- Foreign-buyer ABSD pressure makes the 2031 unlock economics non-trivial. The current foreign-buyer ABSD sits at 60% per the latest IRAS ABSD schedule. Even after full privatisation in 2031, the foreign-demand kicker that traditionally lifted privatised-EC pricing in earlier cycles will be heavily blunted unless the ABSD framework materially loosens — the year-10 unlock is structurally different from the 2010s precedent.
- Interest-rate sensitivity on a 92-year-runway resale is high. Buyers entering Ola post-MOP typically deploy 75% LTV bank financing — rate moves are amplified versus owner-financed or smaller mortgages. Stress-test the SORA path via the MAS SORA reference and our refinancing calculator.
- School-catchment thinness relative to mature D19 pockets. Anchor Green Primary, Springdale Primary and Nan Chiau Primary form the within-1km catchment — serviceable but lacking the branded depth of Hougang Primary and the established Serangoon Garden cluster a few districts away. Families prioritising branded primary catchments should map the alternatives carefully.
Ola is built for three buyer archetypes in the 2026 to 2031 window and a fourth at the 2031 unlock. The strongest fit today is the first-timer SC plus SC or SC plus PR upgrader household with combined income inside the S$16,000 ceiling at the original launch eligibility (or now buying on resale where the ceiling no longer applies post-MOP) who can stack the CPF Housing Grant against private-condo-grade facilities at EC pricing. The second strong fit is the SC investor with a 7 to 10 year hold horizon who buys in 2026 at the just-post-MOP entry, holds through partial privatisation and into 2031 full privatisation, capturing the structural repricing event when the foreign and corporate demand pool finally opens. The third fit is the SC plus PR Sengkang local household already anchored to Compass One, Sengkang General Hospital or the NEL commute, for whom Ola is geographically convenient and the EC eligibility framework still applies on resale. The unlock fit at 2031 is the foreign and corporate buyer who has been priced out of equivalent OCR private stock by the 60% ABSD — though only if the ABSD framework loosens, which is not a base case.
The mis-fit is the foreign or corporate buyer trying to enter pre-2031 — you cannot, full stop. It is also a mis-fit for buyers needing branded primary-school catchments (Anchorvale is serviceable but not Hougang-tier), for buyers requiring CCR-grade rental yields (Sengkang rentals stabilise in a different band), and for buyers uncomfortable with LRT-as-primary-transit on the eastern stacks. Stress-test the cashflow via our cash flow calculator before committing.
We recommend Ola for eligible SC and SC plus PR resale buyers entering in the 2026 to 2028 window who understand the EC privatisation timeline, who can hold through the 2031 full-privatisation unlock, and who want institutional Evia plus Gamuda Land construction at EC resale pricing inside a mature Sengkang transit catchment — provided you benchmark like-for-like against Bellewaters and Riverparc Residence on a stack-and-floor basis and you have walked both the Sengkang MRT and the Farmway LRT route from your candidate unit. We would avoid Ola if you are a foreign or corporate buyer (you cannot purchase until 2031 anyway and the post-2031 economics depend on ABSD-framework changes that are not a base case), if you require pre-MOP-style new-launch progressive-payment cashflow advantages (resale is full cash-and-CPF up-front), if you prioritise branded primary-school catchments inside 1km (Anchorvale is mid-tier on that axis), or if you are uncomfortable with the LRT-dependent transit profile of the eastern blocks. The fair-value zone, in our analysis, sits roughly in line with comparable just-post-MOP ECs in Sengkang and Punggol — pay a measured premium for confirmed unblocked-view stacks on the upper floors and for the western blocks within the 8-to-10-minute walking radius of Sengkang MRT proper, and discount accordingly for eastern stacks reliant on LRT-only access.