mr funny
06-02-07, 11:33
Singapore Companies
Published February 6, 2007
Orchard Turn condo to launch soon
Many foreigners indicating interest before March/April opening
By UMA SHANKARI
SINGAPORE developer CapitaLand and Hong Kong's Sun Hung Kai Properties plan to launch The Orchard Residences - their upcoming residential project on the prime Orchard Turn site above Orchard MRT - sometime in March or April, but the project has already attracted a lot of interest, the developers said yesterday.
http://img517.imageshack.us/img517/9848/bt5604780050220071018c9wl9.jpg
Super-luxury development: Units in The Orchard Residences are set to offer panoramic views of S'pore
'Our project has drawn a lot of interest and attention,' said Soon Su Lin, chief executive of joint venture company Orchard Turn Developments. 'We have received a lot of interest from foreigners, even though we have not even started any advertising.'
Because of this, the 99-year leasehold, 175-unit project will be launched first in Singapore, said Ms Soon. 'Given that the foreigners who are interested are fully aware of our project, we are likely to launch it in Singapore,' she said. 'As for later launches, we may consider taking it overseas if we need to.'
Sun Hung Kai Properties' executive director Victor Lai echoed her, saying that particulars of interested buyers from Hong Kong have already been passed on to the Singaporean side, which will then contact them when the project is launched.
Ms Soon said that there has been interest from private funds to acquire large chunks of the project, but the developer has instead decided to sell the apartments through a regular launch.
While Ms Soon declined to say what prices the apartments will go for, The Orchard Residences has been dubbed 'super-luxury', and CapitaLand Residential Singapore's chief executive Patricia Chia recently told reporters that average prices in the 'super-luxury' segment could rise to $3,000 per square foot (psf) by the end of this year.
The Orchard Residences is scheduled for completion in late-2009, and Ms Soon said that the recent price hike and tightened supply of ready-mixed concrete will not affect the completion date. The price of ready-mixed concrete has shot up by about 50 per cent here since Indonesia banned the export of sand last month.
Most of the units in the 218-metre, 56-storey The Orchard Residences will be three and four-bedroom apartments ranging from 1,800 sq ft to 2,900 sq ft. The development will also have seven 'garden units' and penthouses ranging from 4,300 sq ft to 6,500 sq ft. The building will be the district's tallest when completed and apartments will offer unobstructed panoramic views of Singapore, Ms Soon said. Residents will also have exclusive access to a 75,000 sq ft high-rise garden.
Published February 6, 2007
Orchard Turn condo to launch soon
Many foreigners indicating interest before March/April opening
By UMA SHANKARI
SINGAPORE developer CapitaLand and Hong Kong's Sun Hung Kai Properties plan to launch The Orchard Residences - their upcoming residential project on the prime Orchard Turn site above Orchard MRT - sometime in March or April, but the project has already attracted a lot of interest, the developers said yesterday.
http://img517.imageshack.us/img517/9848/bt5604780050220071018c9wl9.jpg
Super-luxury development: Units in The Orchard Residences are set to offer panoramic views of S'pore
'Our project has drawn a lot of interest and attention,' said Soon Su Lin, chief executive of joint venture company Orchard Turn Developments. 'We have received a lot of interest from foreigners, even though we have not even started any advertising.'
Because of this, the 99-year leasehold, 175-unit project will be launched first in Singapore, said Ms Soon. 'Given that the foreigners who are interested are fully aware of our project, we are likely to launch it in Singapore,' she said. 'As for later launches, we may consider taking it overseas if we need to.'
Sun Hung Kai Properties' executive director Victor Lai echoed her, saying that particulars of interested buyers from Hong Kong have already been passed on to the Singaporean side, which will then contact them when the project is launched.
Ms Soon said that there has been interest from private funds to acquire large chunks of the project, but the developer has instead decided to sell the apartments through a regular launch.
While Ms Soon declined to say what prices the apartments will go for, The Orchard Residences has been dubbed 'super-luxury', and CapitaLand Residential Singapore's chief executive Patricia Chia recently told reporters that average prices in the 'super-luxury' segment could rise to $3,000 per square foot (psf) by the end of this year.
The Orchard Residences is scheduled for completion in late-2009, and Ms Soon said that the recent price hike and tightened supply of ready-mixed concrete will not affect the completion date. The price of ready-mixed concrete has shot up by about 50 per cent here since Indonesia banned the export of sand last month.
Most of the units in the 218-metre, 56-storey The Orchard Residences will be three and four-bedroom apartments ranging from 1,800 sq ft to 2,900 sq ft. The development will also have seven 'garden units' and penthouses ranging from 4,300 sq ft to 6,500 sq ft. The building will be the district's tallest when completed and apartments will offer unobstructed panoramic views of Singapore, Ms Soon said. Residents will also have exclusive access to a 75,000 sq ft high-rise garden.