SC Global sees Marq fetching $4,000 psf

First phase of The Marq on Paterson Hill priced between S$12m & S$30m

Posted: 20 June 2007 2226 hrs


SINGAPORE: Niche property developer SC Global is marketing the first phase of its latest project, The Marq on Paterson Hill, at an average S$4,000 per square foot.

This means 63 units of the development will cost between S$12 million and S$30 million each, excluding three penthouses.

The freehold Marq is expected to be the most luxurious and ambitious of SC Global's developments to date.

Each of the 21 ultra spacious 5-bedroom apartments will come with a 15-metre private heated lap pool.

SC Global will be releasing 21 units on a 'by invitation only' basis in the first phase of private previews. - CNA/yy

Published June 21, 2007

SC Global sees Marq fetching $4,000 psf

By UMA SHANKARI


BOUTIQUE property developer SC Global Developments yesterday said that it expects apartments in the first phase of its just-launched The Marq on Paterson Hill to fetch an average of $4,000 per square foot (psf).

http://www.businesstimes.com.sg/mnt/...21_06_2007.jpg
Lofty heights: Located on the top of Paterson Hill, The Marq has two 24-storey towers. One has 21 5-bedroom apartments and the other, 42 4-bedroom apartments

The absolute prices for the units will work out to $12-30 million each, SC Global said. The company is now marketing about one-third of the 66-unit luxury development through private previews, which are 'by invitation only'.

The average price for the first phase is 'reflective of the unique and exquisite finishing and detailing of the apartments', SC Global said in a statement. 'The Marq is the most luxurious and ambitious of SC Global's developments to date.'

Located on the top of Paterson Hill, The Marq has two 24-storey towers. One of the towers will consist of 21 spacious 5-bedroom apartments averaging 6,195 square feet, with each unit spread out over an entire floor.

The other tower will feature 42 relatively smaller 4-bedroom apartments averaging 3,000 square feet. The development also has three penthouses, which are not being sold at the moment.

'We are excited about the debut of The Marq,' said SC Global chief executive Simon Cheong. 'It has been eagerly awaited by the market since we announced the development concept a few months ago and we have been meticulously refining the plans to perfect the details.'

SC Global first announced plans for The Marq in January this year, and Mr Cheong said then that homes in the project would be priced 'north of $3,000 psf'.

The developer's stock climbed 10 cents to close at $6.25 yesterday. The company's share price has climbed 143.2 per cent since the start of the year.

June 21, 2007

SC Global unveils most expensive condo here

The Marq boasts average prices of $4,000 psf; units priced from $12m

By Fiona Chan, Property Reporter


SINGAPORE'S most expensive condominium project has just been released for sale with units priced between $12 million and $30million.

Apartments in The Marq on Paterson Hill will average $4,000 per sq ft (psf) in the initial phase - making it the first condominium in Singapore to reach this level in terms of average pricing.

The most expensive condominium sale on record is the uber penthouse at Marina Bay Residences, which was said to have fetched about $28.6 million, or $2,600 psf.

On a psf basis, only three projects have breached the $4,000 level: Orchard Residences in Orchard Turn, Parkview Eclat in Grange Road and St Regis Residences in Cuscaden Road.

St Regis also holds the record for the highest psf unit price, with an apartment there selling for a whopping $4,653.50 psf recently.

SC Global will release 21 of The Marq's 66 units in the first phase, with private previews offered to invited buyers only.

The available units in this phase will be spread across both towers, the developer said.

The Marq will have two 24-storey towers, one hosting 21 five-bedroom apartments averaging 6,195 sq ft.

Each of these units - each occupying an entire floor - will have a 15m private heated lap pool.

The other tower will have 42 four-bedroom apartments of 3,000 sq ft in size on average.

To justify the high price, each apartment will have bathrooms with steam and shower rooms.

The master bedrooms will come with walk-in wardrobes of up to 30 sq ft - the same size as a typical bedroom in most residential developments, said SC Global.

It added that the project will have an on-site concierge service and 6.5m-high ceilings for the living areas in each unit.

'We want to ensure The Marq offers unparalleled luxury,' said Mr Simon Cheong, SC Global's chairman and chief executive.

'As Singapore becomes more entrenched as a global city, developments such as The Marq will cater to the increasing demands of its internationally discerning residents.'

Foreigners are likely to make up about two-thirds of The Marq's buyers, said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

He said The Marq is 'the sort of project that will appeal most to high net-worth individuals'.

'I wouldn't be surprised if the cost of construction of this development is close to $1,000 psf,' he added.

The Marq is built on the former Paterson Tower site acquired by SC Global in March last year for $266 million, or $1,064 psf of total floor area.

[email protected]


Uber luxurious

SC GLOBAL will release 21 of The Marq's 66 units in the first phase, with previews offered to invited buyers only. It says the available units in this phase will be spread across both towers of the project.

'We want to ensure The Marq offers unparalleled luxury,' said its chief executive, Mr Simon Cheong.

28 June 2007

First Phase of The Marq Fully Sold
Units sold at an average S$4,137 psf, with a highest price of S$5,100 psf

Singapore, 28 June 2007 - SC Global Developments Ltd, one of Singapore’s leading developers of exclusive luxury residences, is pleased to announce that it received overwhelming response to the first phase of private previews for its ultra luxurious residential development, The Marq On Paterson Hill (‘The Marq’). Previews were by invitation only.

The first phase – about a third of all available apartments – comprising 21 units from the two blocks, Premier Tower and Signature Tower – have been fully sold. The average selling price achieved was $4,137 per square foot. Of the 21 units sold, eight apartments were within The Signature Tower, highly coveted for its signature 15-metre private lap pool in every unit. Prices for the entire development ranged from approximately S$11 million to S$31 million, with a unit in the Signature Tower achieving S$5,100 psf.

The Marq on Paterson Hill is 24 storeys high; the 3 penthouses which occupy the top two floors of the building and apartments on the higher floors were not released in the first phase of private previews. The Signature Tower will be home to 21 ultra spacious 5 –bedroom apartments averaging 6,195 sq ft, beside it will stand the Premier Tower with 42 luxuriously appointed 4 –bedroom apartments averaging 3,000 sq ft.

SC Global Developments has no confirmed date for the release of the second phase of units at this point.