Venus Mansion (Peck Hay Road) en bloc to launch.
Showflat along Anthony Rd (ready in June 07)
It will be 20 storeys and 70 units.
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Venus Mansion (Peck Hay Road) en bloc to launch.
Showflat along Anthony Rd (ready in June 07)
It will be 20 storeys and 70 units.
Yes i went to see the site and called up the number. They refused to disclose price. Whether it is a good or bad thing, i don't know.
They should rename it to something that sounds more classy. City Vista sounds like City Square, City Edge, City Lights, etc all low and mid end developments. Come on man! This is district 9 Cairnhill. Why name it like the rest? Will the potential buyers buy something that sounds so cheap? I don't understand the developers some times.
What about Venus Vista? :DQuote:
Originally Posted by lousy name
or The Residence Suites @ Venus De Cairnhill Regency :D Confirm sold out one. :DQuote:
Originally Posted by meesiammaihum
City Vista is a JV between Chip Eng Seng and Lehman Brosthers Group.......this development is 54% sold. Will it be a casualty of events happening half the world away?
http://www.businesstimes.com.sg/sub/...98425,00.html?
Published September 25, 2008
Lehman's failure won't affect projects: CES
The 2 condos are substantially sold; funds to complete projects secured
By LYNETTE KHOO
CHIP Eng Seng (CES) said its two joint-venture projects with a real estate equity fund managed by Lehman Brothers are unaffected by the collapse of the US investment bank.
http://www.businesstimes.com.sg/mnt/...ES_LKCEL25.jpg
CityVista: The 70-unit project at Peck Hay Rd is already 54% sold at an average $2,550 psf, while The Parc Condo at West Coast Walk is 95% sold at an average price of $880 per square foot
Its JV partner is Lehman Brothers Real Estate Partners II (LBREP II), a US$2.4 billion fund that was closed in 2005. Only a fraction of that sum - some US$400 million - came from Lehman Brothers and its employees.
CES had formed a 50-50 JV with LBREP II's wholly owned special purpose vehicle WM Mauritius Holdings for two high-rise freehold condominium projects.
But a reassuring fact is that the 695-unit The Parc Condominium at West Coast Walk is already 95 per cent sold at an average price of $880 per square foot (psf). The 70-unit CityVista at Peck Hay Road is 54 per cent sold at an average $2,550 psf.
All instalments of purchase money and construction loans have since been deposited into the Project Account of the building projects as stipulated by the Housing Developers Act.
'With financing being secured with the bank, funds needed to finish the whole project was already secured. Not to mention that the projects were launched successfully and the deposits we collected are more than enough to fund the two projects till completion,' CES chief executive Raymond Chia told BT.
The two projects are expected to be completed by the second half of 2010.
CES teamed up with Lehman to bid for four projects in total. Two tenders did not succeed.
Asked if Lehman's collapse will cause CES to search for a new JV partner for future projects, Mr Chia said CES is not short of choice, having landed on the radar screen of equity funds since its partnership with the Lehman fund in 2006. CES has since received enquiries from large funds on opportunities to work together on projects in Singapore and Vietnam, Mr Chia said.
But he noted that CES can take on larger projects on its own now and, hence, has more options besides JVs. There also is the support of its 25 per cent shareholder Citadel Equity Fund, part of the Chicago-based Citadel Investment Group. Both are working together on a freehold condo project Grange Infinite, which is 100 per cent sold.
While Lehman's failure may hurt US commercial property, its impact here is likely to be cushioned.
Lehman Brothers is believed to own a 45,000 square feet building at Clemenceau Avenue worth about $80 million. Its managed fund teamed up with Australia's Lend Lease in a 75:25 JV to buy Paradiz Centre in Selegie Road for $138 million in 2006.
Paradiz Centre is being redeveloped and slated for completion by the end of this year. But it is understood that Lehman's collapse will not affect the fund that owns this project and Lend Lease has pre-emptive rights to buy out Lehman's stake in the venture.
Lehman Brothers also occupies minimal amount of office space here. It currently takes up about 40,000 square feet of office space in Suntec City Office Tower Five, a mere 3.1 per cent of the total Suntec City office space of 1.29 million square feet, according to DMG & Partners Securities.
Its other assets have been divested. The office building at 71 Robinson Road which Lehman jointly owned with Kajima Overseas Asia in April was sold to a German fund for $743.8 million, higher than some $613.4 million they spent on the land and redevelopment. Lehman sold Novotel Clarke Quay last year to CDL Hospitality Real Estate Investment Trust at $219.8 million, double the amount it spent on it.
Told everyone already, we are going into a recession.
We all know.
But if we have the buying and holding power -why do you care?
Perhaps - by trying to spread fear in every thread and pushing the prices down? Thats what we are seeing you as.
Quote:
Originally Posted by recession.
Look at Todays stock price then talk lah, you stupid idiot. Rich man all peeing on their pants. Better sell what you have still thinking of buying or holding your property?
Quote:
Originally Posted by recession
SO ? Does that mean that all rich people will pee on their pants ? Wake up ! There are more buyers our there that can hold than you can imagine .
Mr recession, is there a reason why you need to post all over the forum? What is your motive?Quote:
Originally Posted by recession
I guess you are not familiar with property investment. Those who are rich has already invested their money into property early when majority think that the property is not doing well. That is the time when the price is lowest. When the property went up last year, they have already sold off their investment and cash in with the huge profit.
Many others followed and invested last year when the property price is going up fast. These are the group of people that will be affected most if they do not have holding power and have not done their maths.
Even if US goes into recession, Singapore will slow down but we will not crash down to earth. Lifes still goes on at a slower growth rate.
BTW, in the worst case if majority are affected by US recession, you will not be spared either my friend.
Hahahahahahahaha, sorry to disappoint you my friend. I have money since my enbloc. More than 1 million cash in the bank. When everything crash, i will be king!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Quote:
Originally Posted by Your motive?
Great to know that you have 1 million in your bank. It's a reasonable sum of money to ride over if the economy is bad. However, it can be gone in just a blink if you make the wrong move. Take care and wish everyone is well.Quote:
Originally Posted by recession
PRIDE GOES BEFORE A FALL......Quote:
Originally Posted by recession
Quote:
Originally Posted by registered
and a haughty spirit precedes a fall ......
What if today is your last day on earth? King where?Quote:
Originally Posted by recession
1 million is nothing, u can't even afford a studio in orchard rd with that. Convert that to pounds and it is only 300k pounds, cant even buy a house in kensington london. U read the papers recently, a rich guy bought a US$1 MIL statue just to decorate his swimming pool, that is what i call rich. If u want to hao lian, go buy a kite n fly smewhereQuote:
Originally Posted by recession
Haaa.. mr haolian kenna wacked left right center.
Quote:
Originally Posted by 1 million is nothing
I don't know about u guys but if I have 1 million cash in the bank I would just retire happy and stress-free and drink kopi with friends more often instead buying an Orchard Road studio or a London house or some pointless things like that.Quote:
Originally Posted by Unregistered123
in hongkong, 1 in 4 people on hong kong island are millionaires. in no time, the number of people having 1 million net worth in singapore will surpass 77000 to more than half a million. in no time, one would need at least 3 million sing to retire comfortably. 1 million is too easily attainable these days.....
Quote:
Originally Posted by Piggy13
Ya boy.. tell me about it!
I have around sgd$10mil and I also dont dare to think I'm rich..
There are so many rich people out there.... that you feel so poor..
and I also thought if I had $1mil , I would live in HDB and pass life by..
but then.... things changed when you reach your goal....
http://www.businesstimes.com.sg/sub/...10148,00.html?
Published October 26, 2010
Last 30 CityVista Residences units sold for about $147m
Buyer is said to be a property fund managed by Alpha Investment Partners
By KALPANA RASHIWALA
A JOINT venture involving Chip Eng Seng has sold the last 30 units at CityVista Residences for about $147 million, BT understands. The 20-storey freehold project of 70 units at Peck Hay Road in the Cairnhill area received Temporary Occupation Permit (TOP) recently.
CityVista Residences: Savills is understood to have been involved in the deal for the project's last 30 units
The buyer is said to be a property fund managed by Alpha Investment Partners. Alpha is a unit of Keppel Land.
The transaction involves 28 apartments (three and four-bedders) and two penthouses. The price for the apartments is thought to be about $1,850 per square foot (psf). The psf price for the two penthouses is said to be much lower as they come with substantial roof terrace areas, making up about half of their saleable area.
Each duplex penthouse, which has five bedrooms and a private pool, has an area exceeding 9,000 square feet.
Last month, four units in the project were sold at $1,900-1,980 psf, according to developers' monthly sales data released by the Urban Redevelopment Authority. The Chip Eng Seng-Lehman venture began selling the project in June 2007, with 21 units sold at prices ranging from $2,397 psf to $2,828 psf.
Market watchers suggest that with the project receiving TOP, it made sense for the partners to give a bulk discount and offload the remaining units so that they can clear this portfolio, repay bank loans and move on to other things.
Chip Eng Seng has been successful at state land tenders of late. This year alone, it has clinched 99-year-leasehold executive condominium development sites in Pasir Ris and Punggol in partnership with NTUC Choice Homes. On its own, too, Chip Eng Seng was awarded a 99-year private condo site in Simei.
Savills is understood to have been involved in the deal for the last 30 units at CityVista Residences.
Meanwhile, billionaire Peter Lim is said to have been the buyer of 20 units sold last month at Sui Generis, a freehold condo at Balmoral Crescent which received TOP a few months ago.
The former 'remisier king' paid around $95 million or $1,935 psf in the secondary market deal.