Published June 6, 2007

Soilbuild sells units at Leonie Parc View for up to $3,400 psf

SOILBUILD said yesterday it sold eight mid- and upper-floor apartments at its freehold 44-unit Leonie Parc View project in the past two weeks for $3,000-$3,400 per square foot.

This takes the total number of units sold to 26.

Soilbuild said the units were released in response to the 'strong overseas demand' after it said last month that it would sell a 'sky villa' and two penthouses at the project at auction through Christie's and Colliers International.

The announcement sparked 'strong interest from high-net-worth individuals and institutional investors', Soilbuild said in a filing to the Singapore Exchange.

In light of this, the company has decided to progressively release more units for sale and defer the auction of the sky villa and two penthouses, previously set for June 8.

Leonie Parc View is in Leonie Hill Road in District 9.

The project comprises one sky villa, three penthouses and 40 four-bedroom units.

It has been selling overseas since late April. After roadshows in Hong Kong and Indonesia, 18 of the 20 units released were sold to overseas buyers at prices ranging from $2,600 to $3,000 psf.

Soilbuild's stock closed a cent higher at $1.34 yesterday.