The Terrace
The Terrace is a 747-unit Executive Condominium at Edgedale Plains in District 19 (Punggol), completed in 2018 by Peak Square Pte Ltd — a joint venture between Kheng Leong Company and Low Keng Huat — on a 99-year leasehold tenure granted in 2013. As an EC that crossed its five-year Minimum Occupation Period in 2023 and reached full privatisation in 2024 (year 11), the project now trades as effectively private stock while retaining the structural pricing discount that ECs carry at launch. Sited within the heart of the Punggol new town, with Punggol MRT (NEL + LRT) and the future Cross Island Line Punggol interchange in scope, buyers should stress-test their entry budget using our Affordability Calculator before signing.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
The Terrace sits in OCR sub-zone Punggol, a master-planned new town that the URA Master Plan has continued to densify around the Punggol Digital District (PDD) — a 50-hectare mixed-use precinct anchoring SIT’s new campus and a JTC-led business cluster targeting 28,000 digital-economy jobs by the late 2020s. The site is roughly 600m to Punggol MRT/LRT interchange and within a short stroll of Waterway Point, Punggol Waterway Park and the Punggol Promenade PCN. As an EC, The Terrace was originally sold under HDB EC eligibility rules with the $16,000 monthly household income ceiling and 5-year MOP — both restrictions lifted by 2023, and full privatisation (foreigners eligible) reached in 2024. With TOP in 2018, the project now has roughly 86 years of lease remaining, well clear of the CPF 60-year remaining-lease threshold. Our price heatmap shows Punggol has tracked OCR median with episodic premiums during PDD announcement cycles.
Overview & Key Facts
The Terrace is a 747-unit Executive Condominium at Edgedale Plains in Punggol, developed by Kheng Leong Co (Pte Ltd) under the Peak Square brand. Completed in 2018, this 12-block development ranging from 13 to 17 storeys enjoys a coveted position overlooking the Punggol Waterway — one of only three developments in the Punggol precinct to offer genuine waterfront living. The EC has fully satisfied its Minimum Occupation Period (MOP) and is now freely tradeable on the open market, making it accessible to both Singaporean and PR buyers.
What distinguishes The Terrace from its Punggol neighbours is unit size. In an era of shrinking floor plates, The Terrace’s three-bedroom premiums start at 1,076 sq ft and four-bedrooms at 1,313 sq ft — significantly larger than comparable units in newer ECs and many private condominiums. The development’s three-tiered terrace concept organises facilities into active, leisure, and tranquil zones, creating a layered landscape that maximises the waterway frontage.
At a current average of $1,518 psf, The Terrace represents one of Punggol’s strongest value propositions. The PSF trajectory — from $1,209 to $1,572 in recent transactions — demonstrates consistent appreciation that has rewarded original ballot holders handsomely. With a gross yield of 3.43% and median rent of $4,000, it also delivers respectable rental returns for an EC. The trade-off is its 99-year lease from 2013, which at 86 years remaining is comfortable but will eventually require consideration for buyers with very long holding horizons.
Location & Connectivity
The Terrace sits at the junction of Punggol Drive and Edgedale Plains, immediately adjacent to Kadaloor LRT station — a literal stone’s throw at 220 metres. Oasis LRT is 370 m in the opposite direction, giving residents two LRT options for connecting to Punggol MRT interchange (North-East Line), from which the CBD is approximately 35 minutes by train. A side gate near Block 92 provides direct access to the LRT platform and bus stops, streamlining the daily commute.
The Punggol precinct has matured considerably since The Terrace’s launch. One Punggol, completed in 2022, brings a 700-seat hawker centre, Singapore’s largest public library (five storeys), a polyclinic, and community club to the neighbourhood. Waterway Point mall at Punggol MRT provides over 370,000 sq ft of retail including a Shaw Theatres IMAX, FairPrice Finest, and al fresco waterfront dining. Daily necessities are well-covered.
For families, Oasis Primary School sits just 540 m away, and the SIT campus at 780 m offers tertiary education without a long commute. The My Waterway @ Punggol — a 4.2 km promenade with cycling tracks, water sports facilities, and landscaped gardens — runs alongside the development, providing an exceptional recreational corridor. Coney Island, a 2.4 km nature reserve, is accessible by cycling or a short drive.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Oasis Primary School | primary | Within 1 km |
| Singapore Institute of Technology | tertiary | Within 1 km |
| Horizon Primary School | primary | Within 1 km |
| Punggol Primary School | primary | Within 1 km |
| Edgefield Primary School | primary | ~1.0 km |
| Punggol Secondary School | secondary | ~1.0 km |
| Waterway Primary School | primary | ~1.1 km |
| Punggol Green Primary School | primary | ~1.4 km |
Facilities
The Terrace’s facilities are organised around its signature three-tiered terrace concept, which divides the amenity landscape into active, leisure, and tranquil zones stepping down toward the Punggol Waterway. The 50-metre swimming pool anchors the active zone, supported by a children’s pool, an underwater fitness station, and a sun deck. The leisure tier features BBQ pavilions, a function room, games room, and a hammock lounge overlooking the waterway. The tranquil tier offers a yoga deck and landscaped garden paths that connect to the external waterway promenade.
The gymnasium is adequately equipped for a mid-sized EC, and the clubhouse provides indoor social spaces including a function room for events. Security is managed with gantry access and 24-hour guard patrols. One notable absence is a tennis court — active residents who play regularly will need to book facilities elsewhere.
“The waterway views from the pool deck are the real selling point — it’s genuinely peaceful in the evenings. The hammock lounge is my favourite spot on weekends. Facilities are not as extensive as the mega-developments, but for 747 units everything is well-maintained and rarely overcrowded.”
— Owner-occupier, four-bedroom premium, since TOP
Unit Sizes & Layout
The Terrace offers one of the most generous unit-size ranges among Punggol ECs. The mix spans three-bedroom (1,001 sq ft, 143 units), three-bedroom premium (1,076–1,173 sq ft, 401 units), four-bedroom (1,313 sq ft, 126 units), four-bedroom premium (1,442 sq ft, 67 units), and five-bedroom penthouses (1,711 sq ft, 10 units). These sizes are substantially larger than what newer ECs deliver — a significant advantage for families who prioritise living space over novelty.
The units come in two primary orientations: Punggol Drive facing (morning sun, some road noise) and My Waterway facing (waterway views, afternoon sun). Interior finishes are typical of EC-grade construction — homogeneous tiles in common areas, timber-strip flooring in bedrooms, and branded kitchen appliances. While not at the level of a UOL or CDL private condo, the finishes are durable and practical. Ceiling heights are standard at 2.7–2.8 m.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 257 | $1,298 | $1,433,330 |
| 4 BR | 26 | $1,342 | $1,976,945 |
Pricing & Market Position
Based on 283 recorded transactions, sale prices range from $1,080,000 to $2,390,000, averaging $1,483,273 (~$1,534 psf).
Rents range from $2,500 to $5,800 per month across 79 rental transactions. Current rental yield sits at approximately 3.4%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 54.6% (from $1,017 to $1,573 psf).
Neighbourhood Comparison
Within the Punggol precinct, The Terrace ($1,518 psf) anchors the value end of the spectrum. Watertown ($1,787 psf) commands a $270 psf premium for its integrated-development status — direct access to Waterway Point mall and Punggol MRT, a genuinely compelling advantage for convenience-driven buyers. However, Watertown’s units are significantly smaller (suites from 533 sq ft versus The Terrace’s three-bedrooms from 1,001 sq ft), and its older lease (99 years from 2011, 84 years remaining) is two years shorter.
Among ECs, Piermont Grand ($1,480 psf average, 99 years from 2018) offers a newer development with MRT access via Sumang LRT, but its unit sizes are notably smaller. North Gaia ($1,312 psf) in Yishun provides a lower entry point but in a less transformed precinct. The Terrace’s competitive advantage centres on the combination of unit size, waterway views, and a matured Punggol ecosystem that simply did not exist when the development launched.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE TERRACE | 99 yrs lease commencing from 2013 | 2018 | 747 | $1,534 |
| 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 2013, meaning approximately 13 years have already been consumed. Roughly 86 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~86 years | Full bank financing available |
| 2043 | ~69 years | CPF usage still unrestricted for most buyers |
| 2052 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2072 | ~39 years | Significant financing restrictions for next buyer |
| 2112 | 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 ~76 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE TERRACE across multiple dimensions.
What Residents Say
“We upgraded from a 4-room HDB in Sengkang and the space difference is remarkable. Our four-bedroom premium is 1,442 sq ft — try finding that in any new launch today below $1.5 million. The waterway view from our living room is stunning, and the kids cycle along the promenade every weekend.”
— Owner-occupier, four-bedroom premium, 6 years
“Commuting to the CBD is the main drawback — LRT to Punggol MRT then NEL to town takes about 40 minutes. But with One Punggol’s hawker centre, Waterway Point nearby, and the waterway at our doorstep, the lifestyle trade-off works for us. The SIT campus being close also means we get steady rental enquiries from families.”
— Owner-occupier and part-time landlord, three-bedroom premium
“I bought at launch for investment and have been renting it out since MOP ended. Tenants are typically young families who want space at Punggol prices. The yield is about 3.4%, which is reasonable. My only worry is the LRT connection — some tenants prefer developments right at Punggol MRT like Watertown.”
— Investor-owner, three-bedroom unit
- Post-privatisation EC value gap. Hitting year 11 in 2024, The Terrace now trades as private stock but retains the EC launch-discount in its embedded basis. Resale buyers effectively access OCR-private amenities at a price step below comparable freehold or pure-private 99LH product in the same vicinity.
- Punggol Digital District tailwind. The 50-hectare PDD anchors a structural employment catchment that did not exist when The Terrace launched in 2013. SIT’s campus relocation and JTC’s digital cluster materially deepen the tenant pool — model the rental impact via our ROI Calculator.
- Walking-distance MRT and LRT. ~600m to Punggol MRT (NEL terminus) with direct LRT loops feeding Edgefield Plains and the broader Punggol estate. The Cross Island Line will add a second heavy-rail line at Punggol by 2030.
- Waterway and retail amenity. Punggol Waterway Park, Waterway Point mall and the Punggol Promenade PCN sit within a 10-minute walk — a combination of green space, retail and connectivity rarely matched in OCR at this price tier per SingStat retail catchment data.
- EC layout efficiency. Original EC unit mixes were designed for upgrader families — functional 3- and 4-bedroom layouts with private enclosed kitchens and yards remain a structural advantage over more recent space-compressed private launches.
- OCR EC pricing discount. Even post-privatisation, PSF here typically trades meaningfully below comparable pure-private 99LH Punggol stock, leaving headroom for capital preservation even as further lease decay sets in.
- Punggol-wide BTO and EC pipeline. Punggol continues to receive heavy HDB BTO supply and intermittent EC tenders per URA pipeline data; new supply at higher absolute PSF can cap resale upside for the existing stock in the medium term.
- Lease decay trajectory. With ~86 years remaining (2026 baseline), the project clears CPF and bank LTV rules with headroom, but Bala’s Curve depreciation accelerates after the 70-year mark. Stress-test holding horizons via our Lease Decay Calculator.
- OCR yield compression. Punggol’s rental market has historically delivered respectable but unspectacular gross yields, anchored by tech-cluster tenants and local upgraders rather than premium expatriate demand. The 747-unit project size also means internal rental competition. Benchmark via our Compare tool against D28 EC stock like Bellewaters and The Topiary.
- Exit liquidity at 747 units. Not in mega-development territory, but still large enough that 15-25 resale listings may compete for the same buyer pool at any time, which can compress price discovery for individual stacks.
- Refinancing and TDSR sensitivity. Refinancing options remain broad today but narrow as the lease drops below 70 years; buyers should stress-test using our TDSR Calculator and Refinancing Calculator against a +2% rate shock per current MAS guidance.
- Distance from Central Region. Punggol’s commute to Raffles Place / Marina Bay runs 40-50 minutes via NEL, which caps premium-tenant appeal for finance-sector renters relative to RCR or CCR stock.
The Terrace suits owner-occupier families — particularly those already rooted in the Punggol / Sengkang corridor — who want post-privatisation EC value plus the PDD employment-catchment tailwind. Upgraders coming from nearby Punggol or Sengkang HDB resale flats will find the price step measured; model the gap with our Mortgage Calculator and Stamp Duty Calculator. First-time buyers should note that as fully privatised resale stock, EC grant eligibility no longer applies — but our HDB Grant Calculator remains useful for comparing against staying in the HDB market. Yield-focused investors should weigh OCR yield compression and the 747-unit rental competition carefully; the PDD catchment helps but does not transform the math. Decoupling couples can pressure-test ABSD impact via our Decoupling Calculator. Buyers planning a 7-10 year horizon aligned with PDD ramp-up will likely fare better than sub-5-year flippers, given the lease-decay arithmetic and Punggol-wide supply pipeline.
The Terrace is a defensible post-privatisation OCR EC: walking-distance Punggol MRT/LRT, embedded EC launch-discount in the basis, Waterway-Point amenity and a real PDD employment tailwind. The trade-offs are OCR yield compression, the 747-unit internal supply, and a lease-decay clock that will sharpen post-2035. For owner-occupier upgrader families with a 7-10 year horizon, the value-per-dollar is real. For yield-led investors, the math is tighter — run the numbers via our Cash Flow Calculator and Total Cost Calculator before committing, and benchmark stacks against D28 EC alternatives (Bellewaters, The Topiary) on the Compare tool.