http://www.businesstimes.com.sg/arch...ir-ris-820-psf

Published July 12, 2012

Koh Brothers to launch mass market project in Pasir Ris at $820 psf

Warm response expected for 99-year leasehold condo due to pricing

By michelle tan


KOH Brothers Group is set to launch its first 99-year leasehold pure residential mass market project Parc Olympia along Flora Drive this weekend.

Response from the public is expected to be warm for the 486-unit Pasir Ris-based project due to its attractive pricing at an average of $820 psf, which is deemed to be at the lower rung of properties recently transacted along the stretch.

The cheapest unit in the development also carries a tempting price of around $440,000, making it fairly affordable to buyers.

Said Francis Koh, managing director and group chief executive officer of Koh Brothers: "This is the cheapest (development) around here. Reason being, our engineering and construction knowledge have provided us some cost savings and we would like to pass this savings back to our buyers."

The 8-block residential development, which would sprawl across 322,368 sq ft of land, will comprise a wide range of facilities such as a 600 metre synthetic jogging track, a 50 metre lap pool, an air-conditioned badminton court and a putting green for golfers.

In addition, the developer will also furnish the project with its own feeder bus which will ferry residents to and from nearby MRT stations as well as the Singapore Changi Airport to provide greater accessibility to the development.

Parc Olympia is also situated right next to The Japanese School and is a short drive away from popular shopping centres such as Tampines Mall, Tampines One and Downtown East.

The project which is expected to obtain its TOP in late 2015 is expected to be released in a total of four phases, with phase 1 (which would be launched this weekend) comprising a total of 118 units.

Tailored to cater to a wide range of buyers, unit types will comprise a mix of one-bedders (495 sq ft to 646 sq ft), two-bedders (646 sq ft to 1,292 sq ft), three-bedders (969 sq ft to 2,164 sq ft) and four-bedders (1,324 sq ft to 2,702 sq ft).

Having said that, hopeful buyers might not be able to get their choice pick in the project's first phase, as a waitlist for around 100 units in the development has already formed as of yesterday afternoon according to management.

"To us, every one of our projects is unique and we take pride in going beyond limits to give homeowners the added touch. We have continued to move the bar higher, from selling houses to homes and now, defining lifestyle," said Mr Koh.

Yesterday, Koh Brothers closed half a cent or 2.5 per cent higher at 20.5 cents.