CapitaLand rolls out 1,715-unit D'Leedon on Farrer Rd

[mr funny]

http://www.businesstimes.com.sg/sub/suite/story/0,4574,414452,00.html?

Published November 23, 2010

CapitaLand rolls out 1,715-unit D'Leedon on Farrer Rd

Units in the District 10 project will mostly be priced north of $1,600 psf

By UMA SHANKARI


CAPITALAND has started marketing D'Leedon, the 1,715-unit, 99-year leasehold residential project it will build on the site of the former Farrer Court.

http://www.businesstimes.com.sg/mnt/media/image/launched/2010-11-23/BT_IMAGES_UMPROP23.jpg
In bloom: D'Leedon will comprise seven high-end residential towers and 12 villas

The D'Leedon showflat has been built and agents have started distributing flyers to prospective buyers.

Units in the District 10 project on Farrer Road will mostly be priced upwards of $1,600 per sq ft (psf) for the most part, BT understands.

In terms of the number of units, D'Leedon is believed to be the largest single condominium project ever in Singapore.

But CapitaLand is expected to roll out the project only in phases.

The developer paid a record $1.3 billion for Farrer Court in a collective sale in June 2007 at the peak of the property boom.

That worked out to as much as $783 psf of potential gross floor area.

In 2008, CapitaLand said the entire development would cost around $3 billion and would be in the recognised style of architect Zaha Hadid, the first female recipient of the coveted Pritzker Architecture Prize.

Patricia Chia, who was then head of CapitaLand's residential arm, pegged the project's breakeven cost at around $1,350 psf to $1,450 psf.

D'Leedon will comprise seven high-end residential towers and 12 villas.

The smallest condominium units will be about 900 sq ft, while some villas will be larger than 4,000 sq ft.

Zaha Hadid Architects' design for D'Leedon consists of seven 36-storey, 150-metre towers that will appear to 'grow' from sunken private gardens in the project's landscape.

The towers themselves are sub-divided into 'petals', according to the number of residential units on each floor.

The tops of the buildings will be a series of 'fingers' stepped at different heights.

Zaha Hadid and architectural theorist Patrik Schumacher, who are in charge of the project, have been designing in Singapore for around 10 years now.

Singaporean architecture and engineering firm RSP has also been involved in D'Leedon's design.

[mr funny]

http://www.straitstimes.com/Money/Story/STIStory_606268.html

Nov 23, 2010

1,715 units coming up at Farrer Court


THE much-anticipated project to be built on the former Farrer Court site is expected to be previewed later this month after almost two years of delay.

Marketing material obtained by The Straits Times indicates that CapitaLand's massive 1,715-unit development will be named D'Leedon.

The 99-year leasehold project, consisting of seven 36-storey towers and located on a 838,488 sq ft site, will include one- to four-bedroom apartments, penthouses and 12 strata villas.

Marketing agents said the average price across the project will be in the $1,600 to $1,800 per sq ft (psf) range.

However, with City Developments' freehold project, The Glyndebourne, in the vicinity selling at an average price of $2,100 psf, smaller units might fetch comparable prices as well, they added.

The Straits Times understands that a preview will be held for the developer's invited guests on Thursday and for ex-owners of the former HUDC estate on Friday.

One-plus-study units will range from 592 sq ft to 840 sq ft, two-bedroom units will be between 786 sq ft and 1,216 sq ft, while three-bedroom apartments will be between 1,076 sq ft and 1,668 sq ft.

The project is designed by internationally renowned Pritzker Architecture Prize winner Zaha Hadid - the award's first female recipient - and is expected to be completed in 2014.

CapitaLand had bought the former HUDC estate in a collective sale in 2007 for a record $1.34 billion.

The upmarket condo was to have been launched for sale in the first half of last year and then in the first half of this year but had been delayed owing to market conditions.

Initially, about 1,500 generously sized units were planned.

CapitaLand is developing the 99-year leasehold plot with three partners. Hotel Properties and a Morgan Stanley Real Estate fund will each hold 22.5 per cent, while Wachovia Development will take 20 per cent.

Separately, Sim Lian Group said yesterday that it has sold 332 units out of the 390 units launched at the 696-unit Waterview at an average price of $838 psf.

The condo, at the junction of Tampines Avenue 1 and Tampines Avenue 10, was launched last Friday. Twelve of its 24 penthouse units have also been sold.

Sim Lian said that 90 per cent of the buyers were Singaporeans with the remaining buyers permanent residents and foreigners, from countries such as Australia, China and Malaysia.

It will be releasing 110 new units this week which will be launched at slightly increased prices, bringing the total number of units released to 500.

The 99-year leasehold 341,654 sq ft site comprises twelve 15-storey blocks.

ESTHER TEO