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Thread: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

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    Default Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Kalpana Rashiwala

    Tue, Feb 19, 2008

    The Business Times

    Modest weekend sales at Waterfront Waves



    IN A bellwether post-Budget property launch, Frasers Centrepoint and Far East Organization sold 20 units at the weekend at their Waterfront Waves condo fronting Bedok Reservoir. The project was officially launched at the weekend with the start of an advertising campaign.

    The sales brought the total sold so far at the 99-year leasehold project to 100 units, including 80 sold earlier after the condo was soft launched around mid-January. So far, 180 units at the 405-unit development have been released.

    The average price currently for the entire development is $750 per square foot after discounts, with the spread ranging from around $650 psf to $930 psf. However, for the 100 units sold so far, the average achieved is $801 psf, as they are among the better-facing units. About 85 per cent of buyers of the 100 units are Singaporeans and 35 per cent have existing HDB addresses.

    Property industry watchers were keeping an eye on Waterfront Waves for an indication of buying sentiment after Friday's Budget.

    Some developers hoped the Budget would boost buyer confidence, paving the way for them to go ahead with launches they had held back because of sentiment dented by the stock market plunge and sub-prime woes.

    While the 20 sales at the weekend seem modest, Frasers Centrepoint assistant general manager (sales & marketing) Elson Poon said the result was 'within our expectations in view of current market sentiment'.

    'People are still cautious when it comes to making big-ticket purchases,' he added.

    The project's pricing may have been a factor, market watchers reckon.

    Mr Poon confirmed that the $801 psf average price achieved for the 100 units is a new high for a condo launch in the Bedok Reservoir area. Three-bedroom units at Waterfront Waves cost between $880,000 and just over $1 million.

    Giving his take on the outcome for the maiden launch post-Budget, CB Richard Ellis executive director (residential) Joseph Tan said: 'The buying mood is still cautious. But if you're expecting a price correction, it may not happen for a while. The bulk of unlaunched projects are held by mainstream developers. They have the capacity to hold and control prices.'

    Another property consultant said: 'If there's any price drop it may be started by smaller developers, who usually try not to hold. As long as they can make money, they'll let go.'

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Lynette Khoo

    Mon, Jan 21, 2008

    The Business Times

    Waterfront Waves enjoys brisk sales

    DEFYING wide consensus of a more subdued private property market here amid US sub-prime woes, house hunters bought half the 120 units launched over the weekend at Waterfront Waves.

    The project, near Bedok Reservoir, is a 405-unit condominium jointly developed by Far East Organization and Frasers Centrepoint (FCL).

    The average price achieved for the 60 units sold was $750-800 per square foot (psf), with one unit fetching the highest price of $874 psf.

    "Waterfront Waves has this exclusive product differentiation - it is one of the last developments with direct view of the Bedok Reservoir," said Cheang Kok Kheong, chief operating officer of Frasers Centrepoint Homes.

    The private preview of the Waterfront Waves over the weekend drew a good turn-up of close to 1,000 people.

    Giving the breakdown on the profile of the buyers, Mr Cheang noted that 30 per cent of them have HDB addresses and 70 per cent have private addresses. Most of them indicated that they were looking to stay in the new units.

    Located near the Bedok Reservoir and less than two minutes from the Pan Island Expressway, the condominium is slated for completion in 2010 with construction work likely to start by the third quarter of this year.

    Mr Cheang said he does not see a softening of property market sentiment as the sub-prime problem will likely blow over in another six months to one year.

    "There is still strong demand for the entry-level private property market in selected areas with quality living standards," said Mr Cheang.

    With three of the nine blocks at Waterfront Waves already launched, FCL is now looking to launch a few more blocks this weekend.

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Nov 21, 2007

    Waterfront condos coming up at Bedok Reservoir

    By Fiona Chan, Property Reporter


    WATER FRONTAGE: The first of the four projects, Waterfront Waves, may fetch prices of up to $850 psf, says Mr Ku. -- PHOTO: FRASERS CENTREPOINT

    FOUR condominiums will be built where the former Waterfront View estate in Bedok Reservoir Road used to be.

    The first will be launched in the first quarter of next year, said developers Frasers Centrepoint and Far East Organization yesterday.

    It will be called Waterfront Waves and have 405 units, of which more than half will be three- and four-bedroom apartments. More than 60 per cent of the units will also have reservoir views, the developers added.

    The Straits Times understands that the other three condos will also have 'Waterfront' in their names and are likely to be of similar sizes.

    Together known as the Waterfront collection, the four-condo development is the largest in the area to have a direct water frontage, the developers said. In all, it could have 1,600 units.

    The developers are also in talks with the Public Utilities Board about 'enhancing the neighbourhood's communal parks and water bodies'.

    Although property consultants will not disclose prices for Waterfront Waves, they believe prices may start from $700 per sq ft (psf).

    Mr Ku Swee Yong, director of marketing and business development at Savills Singapore, said units on lower floors with no water views could fetch that price.

    On higher floors, prices could go up to $850 psf, he added.

    Frasers Centrepoint and Far East jointly bought the former HUDC site last year for about $240 psf of gross floor area.

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Bedok reservoir
    Attached Images Attached Images

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Where have all the posts disappeared?

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Quote Originally Posted by Unregistered
    Where have all the posts disappeared?
    as most of the posts are towards negative feel for the property market, someone who invested a lot in properties hacked into system and delete them all, hoping to stop people from reading them....

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Waterfront waves:

    Too expensive.
    Nothing special.

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)


    Baywater


    The clearwater


    Aquarius by the park

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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)


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    Default Re: Waterfront Waves (D16, 99 year LH, Frasers Centrepoint / Far East Organization)

    Quote Originally Posted by hayata1972

    Baywater


    The clearwater


    Aquarius by the park
    The pictures are very nice, but other than that, can you tell us what are benefits of buying a condominium in bedok reservoir?

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