reporter2
02-08-13, 13:17
http://www.straitstimes.com/archive/friday/premium/money/story/90-marina-bay-suites-units-sold-20130726
90% of Marina Bay Suites units sold
Published on Jul 26, 2013
By Cheryl Ong
ABOUT 90 per cent of the units at the Marina Bay Suites condominium have been sold.
The project, which received its Temporary Occupation Permit (TOP) last month, has offloaded 198 apartments in the 221-unit complex, which is next to The Sail @ Marina Bay.
Prices have averaged $2,700 per sq ft (psf), said Mr Thomas Tan, head of residential marketing at Raffles Quay Asset Management, the 99-year leasehold project's manager.
He added that half of the buyers were Singaporeans, with Indonesians, Malaysians and mainland Chinese prominent among the other owners.
Marina Bay Suites has yet to be officially launched but units have been sold at private previews that have been held in Singapore, Malaysia and Indonesia since 2009.
The project has 108 three-bedders - all have been sold - 110 four-bedroom units and three penthouses, one of which went last October for $19.3 million.
The 23 unsold units - 21 four-bedders and two penthouses - are above the 48th floor.
"We are confident they will be sold out by the end of the year," said Mr Tan.
The three-bedroom units range from 1,572 to 1,625 sq ft, while the four-bedders are 2,045 sq ft to 2,691 sq ft in size.
Mr Tan noted that units at Marina Bay Residences, which is also managed by Raffles Quay Asset Management, were bought for $2,000 psf in 2006 and are now selling at $3,000 psf.
Marina Bay Suites was developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.
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90% of Marina Bay Suites units sold
Published on Jul 26, 2013
By Cheryl Ong
ABOUT 90 per cent of the units at the Marina Bay Suites condominium have been sold.
The project, which received its Temporary Occupation Permit (TOP) last month, has offloaded 198 apartments in the 221-unit complex, which is next to The Sail @ Marina Bay.
Prices have averaged $2,700 per sq ft (psf), said Mr Thomas Tan, head of residential marketing at Raffles Quay Asset Management, the 99-year leasehold project's manager.
He added that half of the buyers were Singaporeans, with Indonesians, Malaysians and mainland Chinese prominent among the other owners.
Marina Bay Suites has yet to be officially launched but units have been sold at private previews that have been held in Singapore, Malaysia and Indonesia since 2009.
The project has 108 three-bedders - all have been sold - 110 four-bedroom units and three penthouses, one of which went last October for $19.3 million.
The 23 unsold units - 21 four-bedders and two penthouses - are above the 48th floor.
"We are confident they will be sold out by the end of the year," said Mr Tan.
The three-bedroom units range from 1,572 to 1,625 sq ft, while the four-bedders are 2,045 sq ft to 2,691 sq ft in size.
Mr Tan noted that units at Marina Bay Residences, which is also managed by Raffles Quay Asset Management, were bought for $2,000 psf in 2006 and are now selling at $3,000 psf.
Marina Bay Suites was developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.
[email protected]