mr funny
08-03-07, 14:58
Published March 8, 2007
About 10% of One North Residences sold: sources
Prices range from $800 to $900 psf during preview
By UMA SHANKARI
ABOUT 10 per cent of apartments at the 405-unit One North Residences have been sold so far this week at prices of $800 to $900 per square foot, BT understands.
Sources say that units in the project, which is a joint venture between UOL Group and privately held Kheng Leong, started previewing to invited guests earlier this week, and since then, about 10 per cent have been snapped up.
Prices can be expected to climb slightly during the official launch, market watchers said.
The good response means that United Engineers (UE), which was originally planning to launch its nearby 368-unit One Rochester later this month, can now be expected to push out the project quite soon.
Right now, the showflats for One Rochester are being built, and UE will launch the project once everything is ready, BT understands.
One Rochester is part of a mixed development that includes a hotel, serviced apartment block and a retail complex. It has units ranging from 770 square feet to 2,900 sq ft, though most are 1,500 sq ft three-bedders.
Industry players had earlier speculated that both UE and the UOL-Kheng Leong partnership were waiting for the other to launch its project, with the second project taking its pricing cue from the first.
This was especially important for the developers when it comes to the $15 billion 200-ha research hub one-north, which is relatively untested when it comes to its residential potential. One-north can accommodate about 20,000 residential units in all.
With One North Residences setting the tone, One Rochester will likely be launched at prices higher than the $800-$900 range, said one observer.
Also this weekend, Bukit Sembawang Estates will launch the final phase of Mimosa Terrace on Mimosa Road in the Yio Chu Kang/Seletar area.
Some 44 units are available in this phase, with 'intermediate' units going for $1.3 million each, and corner terraces offered at $1.5 million apiece.
About 10% of One North Residences sold: sources
Prices range from $800 to $900 psf during preview
By UMA SHANKARI
ABOUT 10 per cent of apartments at the 405-unit One North Residences have been sold so far this week at prices of $800 to $900 per square foot, BT understands.
Sources say that units in the project, which is a joint venture between UOL Group and privately held Kheng Leong, started previewing to invited guests earlier this week, and since then, about 10 per cent have been snapped up.
Prices can be expected to climb slightly during the official launch, market watchers said.
The good response means that United Engineers (UE), which was originally planning to launch its nearby 368-unit One Rochester later this month, can now be expected to push out the project quite soon.
Right now, the showflats for One Rochester are being built, and UE will launch the project once everything is ready, BT understands.
One Rochester is part of a mixed development that includes a hotel, serviced apartment block and a retail complex. It has units ranging from 770 square feet to 2,900 sq ft, though most are 1,500 sq ft three-bedders.
Industry players had earlier speculated that both UE and the UOL-Kheng Leong partnership were waiting for the other to launch its project, with the second project taking its pricing cue from the first.
This was especially important for the developers when it comes to the $15 billion 200-ha research hub one-north, which is relatively untested when it comes to its residential potential. One-north can accommodate about 20,000 residential units in all.
With One North Residences setting the tone, One Rochester will likely be launched at prices higher than the $800-$900 range, said one observer.
Also this weekend, Bukit Sembawang Estates will launch the final phase of Mimosa Terrace on Mimosa Road in the Yio Chu Kang/Seletar area.
Some 44 units are available in this phase, with 'intermediate' units going for $1.3 million each, and corner terraces offered at $1.5 million apiece.