journo
12-09-22, 09:55
Frasers Property’s Sky Eden@Bedok 75% sold at S$2,100 psf average on opening day
Sep 08, 2022
On the first day of the property's inauguration on Wednesday, 118 of Sky Eden@Bedok's 158 residential apartments were sold at an average price of around S$2,100 per square foot (psf). This represents almost 75% of the total number of units available in the development (Sep 7).
The first pricing estimate provided by the developer for the project was 1,937 Singapore dollars per square foot (psf).
The developer, Frasers Property: TQ5 0%, issued a statement to the press on Thursday stating that all of the flats in the project with two bedrooms had been purchased. The remaining three-bedroom and four-bedroom apartments range in size from 1,087 to 1,302 square feet (square feet). In addition to the 158 apartments, Sky Eden At Bedok will contain 12 commercial units located on the ground level of the development.
During Wednesday's sales launch, Ismail Gafoor, the chief executive officer of PropNex Realty, saw that the company was mostly catering to Singaporean purchasers, and that "most of them are in their 30s and 40s." According to Lee Sze Teck, the senior director of research at Huttons, many people were purchasing the property for the purpose of investment. He pointed to the position of the building near the Bedok MRT station and its closeness to important employment centres.
Gafoor also mentioned that the Bedok project had a "quite comfortable pricing point for a new mixed-use development" in that area of eastern Singapore. He said thus about the Bedok project. "Additionally, many of the units were priced in the mass-market sweet spot quantum of between S$1.5 million and S$1.75 million, which appealed to a large number of Singaporean buyers."
According to a statement that was released by Frasers Property at the end of August, indicative prices for the project were expected to begin at approximately S$1.3 million for a 2-bedroom unit that was 657 square feet in size, S$1.7 million for a 3-bedroom unit that was 893 square feet in size, and S$2.6 million for a 4-bedroom unit that was 1,302 square feet in size.
The pricing of Sky Eden @ Bedok, which comes in at an average of S$2,100 psf, is almost 24 percent more than the prices of recent resale deals at Bedok Residences, the last condo to be introduced in the region in 2011. Bedok Residences was in 2011. According to the caveat data provided by URA Realis, there were 14 resale transactions at Bedok Residences this year, and prices reached an all-time high of about S$1,700 psf, as reported by Propnex.
Lorraine Shiow, acting chief operating officer of Frasers Property, made the following statement in response to the launch day sale results: "I am pleased that the development has been well-received. I attribute its success to Sky Eden@Bedok's accessible location in a mature estate, which has proven to be a huge draw for homebuyers."
On August 27 we began presenting previews of the project. The construction is expected to be finished in the first half of the year 2027.
Gafoor, who works for Propnex, believes that planned launches in the Outside Central Region, such as Lentor Modern, The Arden, and Sceneca Residences, will also do well. The largest of them, GuocoLand's Lentor Modern integrated mixed-use development in the region of Yio Chu Kang, opened to previews on Friday (September 2) with prices beginning at S$1,880 per square foot (psf) for its 605 residential units.
In the meanwhile, the Urban Redevelopment Authority in Singapore obtained a no-sale licence for the 268-unit Sceneca Residences in Tanah Merah Kechil near Bedok in May of this year. MCC Singapore is the company that is building these residences. The developer is allowed to begin building if they have a no-sale licence, but they are not allowed to sell any apartments unless they have received prior clearance from the Controller of Housing. MCC Singapore has announced that it plans to submit a new application for a selling licence in the month of October.
Separately on Thursday, Frasers Property announced that it is considering the possibility of issuing up to S$375 million in green notes with a maturity date of 2027 as part of its S$5 billion multicurrency debt issuance programme. These notes are intended to be listed on the mainboard of the Singapore Exchange.
The offer, which consists of a placement with institutional investors and a public offer tranche that would be accessible to retail investors in Singapore, has the potential to be increased to a maximum of S$650 million if it receives a higher number of applications than anticipated.
They will be issued in denominations of S$1,000 and at an intended issue price that is equal to one hundred percent of their principal value. Additionally, they will be guaranteed by the organisation. It is anticipated that applications for the public offer tranche will be made in multiples of S$1,000, whilst applications for the placement tranche for specified investors are required to be submitted in multiples of S$250,000.
It has been decided that DBS, OCBC, and UOB would work together as the offer's joint lead managers and bookrunners.
Frasers Property has stated that a bookbuilding procedure will soon begin with institutional investors and the necessary people, and that more details on the topic will be published when the bookbuilding process has concluded.
On Wednesday, shares of Frasers Property finished the trading day down by S$0.01, or 0.9 percent, at S$1.06 each.
Sep 08, 2022
On the first day of the property's inauguration on Wednesday, 118 of Sky Eden@Bedok's 158 residential apartments were sold at an average price of around S$2,100 per square foot (psf). This represents almost 75% of the total number of units available in the development (Sep 7).
The first pricing estimate provided by the developer for the project was 1,937 Singapore dollars per square foot (psf).
The developer, Frasers Property: TQ5 0%, issued a statement to the press on Thursday stating that all of the flats in the project with two bedrooms had been purchased. The remaining three-bedroom and four-bedroom apartments range in size from 1,087 to 1,302 square feet (square feet). In addition to the 158 apartments, Sky Eden At Bedok will contain 12 commercial units located on the ground level of the development.
During Wednesday's sales launch, Ismail Gafoor, the chief executive officer of PropNex Realty, saw that the company was mostly catering to Singaporean purchasers, and that "most of them are in their 30s and 40s." According to Lee Sze Teck, the senior director of research at Huttons, many people were purchasing the property for the purpose of investment. He pointed to the position of the building near the Bedok MRT station and its closeness to important employment centres.
Gafoor also mentioned that the Bedok project had a "quite comfortable pricing point for a new mixed-use development" in that area of eastern Singapore. He said thus about the Bedok project. "Additionally, many of the units were priced in the mass-market sweet spot quantum of between S$1.5 million and S$1.75 million, which appealed to a large number of Singaporean buyers."
According to a statement that was released by Frasers Property at the end of August, indicative prices for the project were expected to begin at approximately S$1.3 million for a 2-bedroom unit that was 657 square feet in size, S$1.7 million for a 3-bedroom unit that was 893 square feet in size, and S$2.6 million for a 4-bedroom unit that was 1,302 square feet in size.
The pricing of Sky Eden @ Bedok, which comes in at an average of S$2,100 psf, is almost 24 percent more than the prices of recent resale deals at Bedok Residences, the last condo to be introduced in the region in 2011. Bedok Residences was in 2011. According to the caveat data provided by URA Realis, there were 14 resale transactions at Bedok Residences this year, and prices reached an all-time high of about S$1,700 psf, as reported by Propnex.
Lorraine Shiow, acting chief operating officer of Frasers Property, made the following statement in response to the launch day sale results: "I am pleased that the development has been well-received. I attribute its success to Sky Eden@Bedok's accessible location in a mature estate, which has proven to be a huge draw for homebuyers."
On August 27 we began presenting previews of the project. The construction is expected to be finished in the first half of the year 2027.
Gafoor, who works for Propnex, believes that planned launches in the Outside Central Region, such as Lentor Modern, The Arden, and Sceneca Residences, will also do well. The largest of them, GuocoLand's Lentor Modern integrated mixed-use development in the region of Yio Chu Kang, opened to previews on Friday (September 2) with prices beginning at S$1,880 per square foot (psf) for its 605 residential units.
In the meanwhile, the Urban Redevelopment Authority in Singapore obtained a no-sale licence for the 268-unit Sceneca Residences in Tanah Merah Kechil near Bedok in May of this year. MCC Singapore is the company that is building these residences. The developer is allowed to begin building if they have a no-sale licence, but they are not allowed to sell any apartments unless they have received prior clearance from the Controller of Housing. MCC Singapore has announced that it plans to submit a new application for a selling licence in the month of October.
Separately on Thursday, Frasers Property announced that it is considering the possibility of issuing up to S$375 million in green notes with a maturity date of 2027 as part of its S$5 billion multicurrency debt issuance programme. These notes are intended to be listed on the mainboard of the Singapore Exchange.
The offer, which consists of a placement with institutional investors and a public offer tranche that would be accessible to retail investors in Singapore, has the potential to be increased to a maximum of S$650 million if it receives a higher number of applications than anticipated.
They will be issued in denominations of S$1,000 and at an intended issue price that is equal to one hundred percent of their principal value. Additionally, they will be guaranteed by the organisation. It is anticipated that applications for the public offer tranche will be made in multiples of S$1,000, whilst applications for the placement tranche for specified investors are required to be submitted in multiples of S$250,000.
It has been decided that DBS, OCBC, and UOB would work together as the offer's joint lead managers and bookrunners.
Frasers Property has stated that a bookbuilding procedure will soon begin with institutional investors and the necessary people, and that more details on the topic will be published when the bookbuilding process has concluded.
On Wednesday, shares of Frasers Property finished the trading day down by S$0.01, or 0.9 percent, at S$1.06 each.