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Thread: Marina Bay Suites (D1, 99 years, Keppel Land)

  1. #61
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    Quote Originally Posted by thesailowner, SkyscraperCity
    Dishonourable and unscrupulous reporters will be reporting “MBS only managed to sell 50% of total units close to 1800psf”. Ethical reporter will report “MBS almost sold out in less than 1 day from $1850 to $2800 psf”.
    Don't worry, we have a "Reporter" here who is the "ethical" type.

    Quote Originally Posted by Reporter
    Err ... they seriously want to sell out today!
    So strange.

    Last year when they launched, only managed to sell one unit at $1,740 psf, and even that one sale had been cancelled by "mutual agreement".

    $1,740 psf - only one buyer.

    $$1850 to $2800 psf - almost sold out.

    What logic is this?

    Wonder will that one buyer be able to get it back at $1,740 psf?

    Quote Originally Posted by Business Times
    Business Times

    March 21, 2009

    Kepland Defers Construction of Marina Bay Suites

    The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement.
    This is getting more and more like Dec 2006 ... the calm-before-the-storm ...


    Quote Originally Posted by Reporter
    It seems like we have been cooling down for this cold-and-quiet X'mas, that I wished for, since 14 September.

    I will go for my cruise, holidays, etc. after MBS preview.
    Déjà vu!
    But no! It was MBR - not MBS - back in 2006 X'mas. There was a difference.
    I better get ready ...

    Once my godfather gives me the ang pow, I'll have to take part in the next wave of the tsunami ...

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    sources from the ground:

    released till 45th flr due to gd response, prices from 1850 to 2600psf ~

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    Correction. 2685 psf.



    Quote Originally Posted by august
    sources from the ground:

    released till 45th flr due to gd response, prices from 1850 to 2600psf ~

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    Quote Originally Posted by Squall8888
    Correction. 2685 psf.
    they release 46th flr ??

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    Marina Bay Suites sells fast; let the good times roll
    We are getting some unconfirmed reports on the ground that Marina Bay Suites is moving fast and that there is quite a crowd at the sales gallery.

    The prices were lower than expected and start from ~$18xx psf. Units on the lower floors were released first, although it seems more have been made available due to good response. It seems at least one stack was said to have been sold out by mid afternoon.

    If the good times keep rolling for the rest of the day, we expect around half a billion dollars or more to have exchange hands on paper at the Marina Bay today.

    Some property enthusiasts online have even compared this 'feeling' with the 2007 bull run, which started at the same place in late 2006.

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    i think you made an error with your partial cutting and pasting. The 1 unit sold at $1,740psf refers to Madison Residences.

    "In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.
    The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement."


    Quote Originally Posted by jlrx
    Don't worry, we have a "Reporter" here who is the "ethical" type.



    So strange.

    Last year when they launched, only managed to sell one unit at $1,740 psf, and even that one sale had been cancelled by "mutual agreement".

    $1,740 psf - only one buyer.

    $$1850 to $2800 psf - almost sold out.

    What logic is this?

    Wonder will that one buyer be able to get it back at $1,740 psf?



    This is getting more and more like Dec 2006 ... the calm-before-the-storm ...




    I better get ready ...

    Once my godfather gives me the ang pow, I'll have to take part in the next wave of the tsunami ...

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    i was too busy to go down today. My agent updated me with the same info. However, not sure why he said less than 100 units sold. By the info we have gathered around in the various forums, should have well exceeded 100 units right? Anyway, they had a good strategy of pricing it surprisingly below market expectations and telling everyone that the showflat will be opened for today ONLY and the high floor units will be launched in HK (at some say 3000psf). Since 45th floor is already more than 2600psf, 3000psf for the higher floors seem likely.


    Quote Originally Posted by august
    sources from the ground:

    released till 45th flr due to gd response, prices from 1850 to 2600psf ~

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    Quote Originally Posted by bargain hunter
    i think you made an error with your partial cutting and pasting. The 1 unit sold at $1,740psf refers to Madison Residences.

    "In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.
    The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement."
    Oops ... pai seh! They put it under the news title "Kepland Defers Construction of Marina Bay Suites".

    I was too excited already ... read wrongly!

    Like in the relay race ... too excited ... dropped the baton.



    I'm the runner for the second leg of the race (whereas Property_Owner is the first runner).

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    Quote Originally Posted by focus
    Meeting my friend for lunch at 2 , so maybe not..
    anyway.. cannot afford to buy .. not at that level yet.. dont wear that big hat..

    Oh ya.. it's for invited buyers and VVIP as stated in the biz times article.
    http://74.125.153.132/search?q=cache...ient=firefox-a

    even if its for Vips ...you go there ..will there turn you away ??

    if i go and they turn me away i call straits times straight away ..complain the howlian ..

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    now they haolian liao loh. say one day only. no more liao. sell in hk next.

    Quote Originally Posted by proud owner
    even if its for Vips ...you go there ..will there turn you away ??

    if i go and they turn me away i call straits times straight away ..complain the howlian ..

  11. #71
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    http://www.businesstimes.com.sg/sub/...61191,00.html?

    Published November 26, 2009

    80 units sold at Marina Bay Suites preview

    Developer not expected to release more units in the condo until 2010

    By KALPANA RASHIWALA


    ABOUT 80 of the 90 units previewed at Marina Bay Suites yesterday have been sold, at an average price understood to be slightly above $2,300 per square foot.


    In the spotlight: The developer says that the 'average price range was between $2,200 psf and $2,500 psf'

    However, the consortium developing the project said that the 'average price range was between $2,200 psf and $2,500 psf'. Only three and four-bedroom units on the low to mid- floors at the 66-storey development were released for yesterday's preview.

    'Unit sizes range from 1,572 to 2,691 sq ft for the three to four-bedroom units,' said a spokesman for Raffles Quay Asset Management, the asset manager for Marina Bay Suites.

    BT understands that the consortium developing the 221-unit, 99-year leasehold condo, does not plan to offer any more units in the development until next year. The show suite for the condo will be completed in the first half of next year and housed in an office tower in the Marina Bay Financial Centre (MBFC).

    The condo, MBFC and an earlier condo project, Marina Bay Residences, are being developed on a 99-year leasehold plot sold by the Singapore government in 2005 to a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.

    Yesterday's preview was held on the mezzanine level of One Raffles Quay, which was also developed earlier by the three partners. The project is being marketed by CB Richard Ellis and DTZ.

    'There are no immediate plans to officially launch Marina Bay Suites (MBS). This private preview was for invited clients, business associates, registered prospects, staff and directors. We will launch MBS at the appropriate time,' the spokesman said.

    Initially, the consortium had planned to release only 50 units but decided to add 40 more due to keen demand from potential buyers.

    BT understands that at least a third of the buyers were foreigners (including permanent residents) and companies, with Indonesians being the predominant foreign buyers. Well-heeled Singaporeans also bought units in the condo.

    Prices of three-bedders start from $3 million or about $1,908 psf, BT understands.

    The least expensive four-bedder (a 2,045 sq ft unit) cost $4.3 million or $2,103 psf. For the larger four-bedroom apartments of 2,680 sq ft, prices start from $6.1 million or $2,276 psf.

  12. #72
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    http://www.straitstimes.com/Money/St...ry_459224.html

    Nov 26, 2009

    Strong sales at Marina Bay Suites preview

    Buyers snap up most of the 90 units released for sale yesterday

    By Joyce Teo


    A one-day preview at the upmarket Marina Bay Suites development saw invited buyers snap up most of the 90 units released for sale at average prices ranging from $2,200 to $2,500 per sq ft (psf).

    At least 81 units were bought yesterday at the 99-year leasehold, 221-unit condominium in Marina Bay, whose launch had been delayed by almost two years, said a spokesman for Raffles Quay Asset Management, which manages Marina Bay Financial Centre. The centre has two residential towers - Marina Bay Residences, which sold out in late 2006, and Marina Bay Suites.

    Prices achieved were below the expectations the developers had early last year, before the property market slumped as the global crisis took hold.

    It was then thought that the condo could be priced around $3,000 psf, given that the most expensive units in Marina Bay Residences and The Sail @ Marina Bay had then traded beyond that price level.

    The invited group of buyers yesterday consisted of registered clients, directors and staff working for the developers - a consortium comprising Keppel Land, Hongkong Land and Cheung Kong Holdings.

    The condo has units of three- to four-bedrooms ranging in size from 1,572 sq ft to 2,691 sq ft, as well as three larger penthouses.

    Yesterday, the three-bedroom units went for between $3 million and $3.7 million.

    The smaller four-bedroom units sold for around $4.3 million to $5 million, while the larger four-bedroom units achieved prices of $6.1 million to a shade below $7 million.

    About two-thirds of the Marina Bay Suites buyers were Singaporeans, with the balance made up of foreigners, permanent residents and a few companies, said Mr Joseph Tan, executive director for residential properties at one of the marketing agents, CBRE.

    Marina Bay Suites had been slated for launch early last year when there was talk that the three-bedroom units would command a price of $4 million to $5 million.

    But the market downturn prompted the postponement and, said Mr Tan, the preview had to be pitched at today's prices.

    Cushman & Wakefield managing director Donald Han agreed that in today's high-end market, 'you need to provide a discount from the peak levels'.

    'The value proposition is there for investors keen on luxury properties,' he said.

    'Generally, there may be more upside as prices in the high-end to luxury markets are still about 20 per cent to 25 per cent from the peak levels in early 2008.'

    Mr Han said the market is seeing demand slowly returning in the $2,000 psf to $3,000 psf range, but not yet for those priced above these prices.

    Experts also said Marina Bay Suites' location is a major selling point.

    'The lure factor of Marina Bay properties is the proximity to the integrated resort, and the finite supply of homes there,' said Mr Han.

    Caveats lodged for The Sail @ Marina Bay this month showed deals done at between $1,744 psf and $2,800 psf, while Marina Bay Residences deals were done at $2,170 psf to $2,420 psf last month.

    Sellers are hoping that values in the area will rise by the time the integrated resort in Marina Bay is completed, he said.

    Indeed, Mr Tan said the plan was to launch the condo at 'better prices' in the first half of next year when the integrated resort opens.

    The showflat would be ready by then.

    [email protected]

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    滨海湾第二个摩天公寓 推出90单位已卖九成
    吴慧敏
    联合早报
    26-11-2009



    滨海湾金融中心(MBFC)内的第二个摩天共管公寓项目——Marina Bay Suites,在冻结两年后终于开卖。在昨天的预售会上,发展商原本将50个单位开放给买家选购,由于销售反应相当热烈,它随后再推出另外40个单位

    代表发展商的公关发言人说,截至昨天晚上,预售会上推出的90个单位已卖出九成,每平方英尺平均成交价介于2200元至2500元

    成交的单位都属于四卧房式单位,面积介于1572平方英尺至2691平方英尺,这也就是说,每个单位的成交价动辄四五百万元

    她透露,昨天参加预售活动的贵宾,都是公司的客户、商业伙伴、员工和公司董事等。她表示,这不是一项公开的销售活动,公司暂时没有计划在未来两天,或者即将来临的周末,推出更多单位。

    这栋66层高的摩天公关公寓共有221个单位,其中218个属于三或四卧房式单位,另外三个为顶层豪宅(penthouse)。

    Marina Bay Suites早在去年1月就已经筹备推出,当时,发展商原本瞄准的平均尺价至少是3000元,不料,全球金融大海啸爆发,迫使发展商不得不延迟推出计划。

    这一两年来,由于面积小的单位特别好卖,所以市场一直盛传,由香港置地、长江实业和吉宝置业组成的财团,出现了一些意见分歧:有的伙伴建议缩小单位的面积,有的却坚持维持原来的设计。

    现在,Marina Bay Suites仍然以全部大面积单位推出,而且在一天之内卖出大约80个单位,市场人士认为,这应该会为其他有意推出的豪宅项目注入一些信心。

    本地楼市在政府于9月中实施的降温措施后便冷却下来,发展商推出和卖出的新私宅单位已连续三个月下跌。今年10月卖得最好的一个项目,是位于武吉知马路的Cyan,它在上个月以1821元的中位尺价,卖出了81个单位。

    由于这个月没有什么大型项目上市,因此,已经卖出大约80个单位的Marina Bay Suites应该也有望成为11月的热卖项目。

    不过,相比较滨海湾金融中心的第一个摩天共管公寓项目——滨海湾居(Marina Bay Residences),Marina Bay Suites的销售反应还是明显趋冷。

    滨海湾居在2006年12月推出时,吸引了长长的排队人龙,全部428个单位在三天之内就卖个清光,当时的每平方英尺平均成交价约1850元。

    目前,Marina Bay Suites附近的项目,例如滨海舫(The Sail @ Marina Bay)的二手交易情况仍是市场瞩目的焦点,例如最近有一个面对海湾的50层单位(900平方英尺)以3000元的高尺价成交,一个面对海湾的30楼四卧房式单位则以稍微超过2700元的尺价成交。

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    Keppel Land Ltd
    Exceptional demand at MBS
    Foo SzeMing
    OCBC Investment Research
    Monday, 30 November 2009, 08:48:37



    The Marina Bay Suites (MBS) was finally previewed last week and saw exceptional demand from buyers on the first day. The pricing achieved for MBS is impressive compared to other properties in the vicinity and we have now raised our average selling price assumption for MBS to S$2,500 psf. Among the developers, Keppel Land (KepLand) is best positioned to benefit from the opening of the IRs. KepLand still holds three pieces of land at the Keppel Bay area and these could appreciate in value over the long term. As we are now more optimistic on the high-end property segment, we have removed the 20% discount that had been previously ascribed in our valuation and thus derive a fair value of S$3.61 on KepLand. With a slew of positive catalysts ahead in 2010 – the opening of the IRs, completion of the Marina Bay Financial Centre and the launch of MBS, we are now upgrading KepLand from HOLD to BUY.


    Strong response at the MBS preview. The Marina Bay Suites (MBS) was finally previewed last week and saw exceptional demand from buyers on the first day of the preview. Only units up to 45th floor were released for preview and at least 81 units of the 90 units previewed were sold during the first day at average prices ranging from S$2,200 psf to S$2,500 psf. Sizes of the three and four-bedroom units range from 1,572 sqft to 2,691 sqft and prices start from S$3m and S$4.3M, respectively. At least one-third of the buyers were foreigners and companies.



    Raising our ASP assumption for MBS to S$2,500 psf. The success of the preview provides more evidence that genuine buying interests from locals and foreigners have returned to the high-end property market. The pricing achieved for MBS is on par with recently transacted prices at The Sail and Marina Bay Residences, which have better frontages. We are now raising our average selling price assumption for MBS to S$2,500, which is a comfortable estimate as the higher floor units can achieve better pricing when released for sale next year.



    A key beneficiary of the opening of IRs. The two integrated resorts – Resorts World at Sentosa (RWS) and Marina Bay Sands – are expected to open in early 2010. Among the developers, Keppel Land (KepLand) is best positioned to benefit from the opening of the IRs. We expect the pricing of the remaining unlaunched units at Reflections at Keppel Bay and MBS to increase upon the completion of the two IRs. In addition, KepLand still holds three pieces of land at the Keppel Bay area and these could appreciate in value over the long term due to its close proximity to the RWS. We have now raised our achievable selling price for these three plots of land to S$1,800 psf.



    Time is ripe for an upgrade. With the adjustments in our selling price assumptions, our RNAV estimate has now been raised to S$3.61 per share (previously S$3.39). As we are now more optimistic on the high-end property segment, we have removed the 20% discount that had been previously ascribed in our valuation and thus derive a fair value of S$3.61 on KepLand (previously S$2.92). With a slew of positive catalysts ahead in 2010 – the opening of the IRs, completion of the Marina Bay Financial Centre and launch of MBS, we are now upgrading KepLand from HOLD to BUY.

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    better buy double bay residence at simei with low PSF and great to invest due to upcoming new university and shopping mall / hotels. Great rental yield too.

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    6 whole floors sold at Marina Bay Suites preview
    Buyers include Indonesians, Singaporeans and other Asians
    Kalpana Rashiwala
    The Business Times
    Thursday, 3 December 2009


    Marina Bay Suites

    About half a dozen floors at Marina Bay Suites changed hands at last week's preview of the project, BT understands.

    The buyers of the whole floors are understood to be Indonesians, Singaporeans and other Asians.

    Some of them bought through companies. The foreigners are believed to be Singapore permanent residents.

    In absolute terms, the biggest transaction was close to $45 million, involving at least 2 floors. The buyer is understood to be an Indonesian party.

    Market watchers estimate that it could have cost buyers between $17 million and $18 million to purchase a whole floor at the 99-year leasehold condo based on prices at last week's preview.

    Each floor has four apartments - two 3-bedroom units and two 4 bedders. The total saleable area per floor is slightly under 8,000 sqft.

    Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

    The 87 units fetched close to $400 million, he added.

    Two thirds of the units were sold to Singapore residents (including PRs). The remaining one third was sold to non-PR foreigners, including Indonesians, Malaysians, mainland Chinese, Australians and Americans.

    'We do have multiple-unit buyers, but due to client confidentiality and privacy reasons, we are unable to reveal such information,' Mr Tan said when asked about purchases of entire floors.

    RQAM is the asset manager for Marina Bay Suites, which is being developed by a joint venture involving Hongkong Land, Keppel Land and Cheung Kong Holdings.

    Mr Tan declined to give details about pricing except to reiterate that 'the average price range was between $2,200 psf and $2,500 psf'. BT understands that on an average basis, the 90 units were priced at close to $2,300 psf.

    However, the range at which the apartments were sold could be about $1,800 psf to slightly over $2,600 psf.

    Mr Tan said that the apartments released were from the 7th to the 40th-plus floors of the 66-storey development.

    The 221-unit project comprises 218 3- or 4-bedroom apartments and three penthouses. Currently, the plan is to begin construction of the project sometime in the first half of next year, Mr Tan said.

    'We have no immediate plans to release more units for the rest of this year but we'll continue to register interested buyers. We'll monitor the market and determine the price at the time of launch.'

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    Quote Originally Posted by Reporter
    'We do have multiple-unit buyers, but due to client confidentiality and privacy reasons, we are unable to reveal such information,' Mr Tan said when asked about purchases of entire floors.
    The Business Times reporter Kalpana Rashiwala did not do her legwork.

    If she had bothered to interview me, I could have given her the name of one such multiple-unit buyer.

    His name is Property_Owner. He is an old friend of CDL boss Kwek. He resides on the ground floor of a condo called CONDOSingapore.com. I know because I'm his 8th floor neighbour.

    I'm surprised that our 7th floor neighbour did not inform his colleague Ms. Rashiwala.

    Quote Originally Posted by Property_Owner
    Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week.
    Quote Originally Posted by Property_Owner
    Dun worry, I have faith in my old friend Kwek
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    Directors buy units at Marina Bay Suites
    Tuesday, 8 December 2009



    Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

    Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

    And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

    Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.

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    Quote Originally Posted by Reporter
    Directors buy units at Marina Bay Suites
    Tuesday, 8 December 2009



    Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

    Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

    And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

    Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.
    MP also buy... not afraid of Mah pulling a fast one on him?

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    The Niams bought #32-02 at 2238psf and the Yeos bought #32-01 at 2442psf. How come they are buy #32 at what was suppose to be the average price of the project?


    Quote Originally Posted by Reporter
    Directors buy units at Marina Bay Suites
    Tuesday, 8 December 2009



    Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

    Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

    And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

    Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.

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    http://www.straitstimes.com/Money/St...ry_464301.html

    Dec 9, 2009

    2 Keppel directors buy Marina Bay units


    TWO directors in the Keppel group of companies are shelling out millions of dollars for units in the plush Marina Bay Suites that Keppel Land is involved in developing.

    Keppel Corp director Alvin Yeo, who is also the senior partner at law firm Wong Partnership, is paying $6.54 million or $2,442 per sq ft (psf) for a 2,680 sq ft apartment on the 32nd floor of the luxury project.

    The details of the transaction were disclosed in an announcement by Keppel Land to the Singapore Exchange yesterday as part of the exchange's listing rules.

    No discount was given by Keppel Land, which is one of the joint-venture partners of the project along with Hongkong Land and Cheung Kong Holdings.

    Keppel Land director Niam Chiang Meng is paying $4.577 million or $2,238 psf for his unit, also on the 32nd floor but smaller at 2,045 sq ft.

    Mr Niam also did not receive any discount.

    The recent preview of Marina Bay Suites saw units snapped by Singaporeans and foreigners, including Indonesians, Malaysians, mainland Chinese, Australians and Americans.

    Reports have put the pricing of the units sold at around $2,300 psf.

    LEE SU SHYAN

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    Quote Originally Posted by andy
    MP also buy... not afraid of Mah pulling a fast one on him?
    At least Niam Chiang Meng, former CEO of HDB, has left HDB and is no longer reporting to Mah.
    So he can buy, right?

    But Yeo Alvin an MP?
    He still need to work with Mah right?
    Different GRC, so safe from Mah?

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    Quote Originally Posted by tanumy
    better buy double bay residence at simei with low PSF and great to invest due to upcoming new university and shopping mall / hotels. Great rental yield too.
    Hello...there is a difference between buying LV and Coach hor...and Double Bay Residence is not even Coach level..

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    Marina Bay Suites sold 87

    Median 2,159
    Lowest 1,826
    Highest 2,623

    From various BT articles,

    "However, the consortium developing the project said that the ‘average price range was between $2,200 psf and $2,500 psf’"

    Business Times 26 Nov

    "Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

    Mr Tan declined to give details about pricing except to reiterate that ‘the average price range was between $2,200 psf and $2,500 psf’."

    Business Times 3 Dec

    Liars...trying to talk up their own project. Median price is only 2159, where is the AVERAGE PRICE OF 2200 TO 2500???

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    Quote Originally Posted by bargain hunter
    Marina Bay Suites sold 87

    Median 2,159
    Lowest 1,826
    Highest 2,623

    From various BT articles,

    "However, the consortium developing the project said that the ‘average price range was between $2,200 psf and $2,500 psf’"

    Business Times 26 Nov

    "Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

    Mr Tan declined to give details about pricing except to reiterate that ‘the average price range was between $2,200 psf and $2,500 psf’."

    Business Times 3 Dec

    Liars...trying to talk up their own project. Median price is only 2159, where is the AVERAGE PRICE OF 2200 TO 2500???
    i not sure bout the stats and all, but what i can see just based on what you gave is that mean and median are VERY different, hope you understand now, in my opinion, i think developers will calculate both mean and median, and then publish the higher one, since they know many people will confuse mean with median. btw, this is not illegal too, because you see, they are not lying, this is a common form of business practice.

    i also want to ask all the experienced people here as i am confused, the MBS view can really see the marina bay? cos thats my buying point, also, is MBS taller than sail or MBR, by taller , i don't mean floors, i mean height.

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    Lüxüry projects to dömïnätë this year
    The Business Times
    Thursday, 14 January 2010


    A one-day preview at the upmarket Marina Bay Suites development saw invited buyers snap up most of the 90 units released for sale at average prices ranging from $2,200 to $2,500 psf.

    Developers are expected to push out a slew of hïgh-ënd and lüxüry projects in 2010 as buying momentum starts returning to these segments of the property market.

    Data from CB Richard Ellis (CBRE) shows that of the 7,975 landed and non-landed homes that are likely to be launched in 2010, more than 40% of them are in Singapore’s core central region (CCR), which includes the prime Districts 9, 10 and 11, the financial district and Sentosa Cove.

    A total of 3,469 homes will be in the CCR. Another 3,071 units are in the outside central region, which is a proxy for suburban mass-market locations. The remaining 1,435 homes are in the mid-tier rest of central region.

    In contrast, most private home launches in 2009 were in the mass market.

    ‘The first half of 2010 will see a wider spread of project launches from mass market, to city fringe and to prime locations,’ said Joseph Tan, CBRE’s executive director of residential.

    ‘A lot of developers did not launch or re-launch their high-end and luxury projects last year as prices were down,’ said Cushman & Wakefield Singapore managing director Donald Han.

    ‘They were holding onto their projects because they could afford to. Now, with prices beginning to climb, we can expect more launches in these segments.’

    According to Goldman Sachs, luxury homes prices here are still some 19% bëlöw their 2007 pëäk, while prime and mass market home prices are 8% and 4% lower than their previous peaks respectively.

    However, it is unclear if the take-up for luxury homes will be as strong as that seen during the 2007 boom. Back then, sales were fuelled by international buyers. But now, most developers and analysts agreed that foreign demand has not returned as strongly as hoped to the high-end and luxury market.

    But sellers are still hopeful that the openings of the integrated resorts will once again kick-start more interest from international investors into Singapore.

    The fact that luxury prices are still far from their peaks means that investing in Singapore will once again prove to be attractive to international buyers, Mr Han added.

    Said UOB Kay Hian analyst Vikrant Pandey: ‘The growing acceptance of Singapore as a choice destination to live and work will fuel prices further because property prices in Singapore are still significantly lower than those of key gateway cites of Monaco, London, New York, Hong Kong, Tokyo and Moscow.’

    There is also a lot of speculation on the ground about how developers will replenish their landbanks once they start selling luxury and high-end homes once again. In 2006 and 2007, a scramble for prime residential sites led to a booming collective sales market.

    ‘All developers we spoke to are looking to participate in the government land sales for 2010, as land banks have been run down in the strong buying momentum in 2009,’ said Macquarie analysts Elaine Cheong and Soong Tuck Yin in a Jan 6 note.

    ‘A few have lost out in 2009 tenders due to intense competition. We see overpaying for land as a key risk for developers in 2010.’

    Some analysts believe that collective sales, which witnessed a slump in 2008 and 2009, with only one transaction compared to 116 in 2007, could stage a comeback in 2010 if the strong buying sentiment in the property market continues well into the year.

    ‘We expect en bloc sales to make a comeback on the back of: rapidly falling inventory levels among developers; the H1 2010 government land sales programme (which) mainly targets the mass-market segment; a recent surge in high-end transactions; moderation in price expectations by collective sale home owners; and the transformation of Singapore into a top global city with the opening of the integrated resorts,’ said UOB Kay Hian’s Mr Pandey.

    But Goldman Sachs said that the en bloc fever is not likely to return anytime soon.

    ‘Developers’ demand concerns still trump the need to replenish land banks, suggesting a new wave of en-bloc sales is not yet in sight,’ said analysts Paul Lian and Rishab Bengani yesterday.

    ‘As a group, developers made $2.5 billion in land purchases in 2009, flat over 2008, and some 75% below 2006 peak levels, despite record take-up in 2009.’

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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of November 2009

    Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Marina Bay Suites . CCR ....... 87 ........................ 87 ......................... 2,623 ........... 2,159 ........... 1,826
    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of December 2009

    Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Marina Bay Suites . CCR ....... 89 ........................ 2 ........................... 2,611 ............ 2,480 ........... 2,348
    One Phase-1 unit unsold as of 31 December 2009?

    $2,623 psf is its high.

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    Las Vegas Sands to open Singapore casino on 27th April 2010
    Bloomberg
    Singapore
    Wednesday, 24 February 2010, 9.43 am CCT



    Las Vegas Sands said on Wednesday it plans to open the first phase of its US$5.5 billion (S$7.75 billion) Singapore casino, Marina Bay Sands, on 27th April 2010.

    It said its Marina Bay Sands casino will open along with 963 hotel rooms, part of the shopping mall and convention centre, and several dining outlets, including several run by celebrity chefs.

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    http://www.businesstimes.com.sg/sub/...57540,00.html?

    Published April 30, 2010

    More than 30 units of Marina Bay Suites sold

    Prices for latest preview are 15-20% higher

    By KALPANA RASHIWALA


    MORE than 30 units were sold at a preview for Marina Bay Suites yesterday. They were among a batch of 36 apartments released on nine floors in the 66-storey condominium project and which are priced between $2,167 per square foot and $3,133 psf.


    Artist's impression: Marina Bay Suites has a total 221 units, comprising 218 three- or four-bedroom apartments and three penthouses

    Analysts observe this pricing is about 15 to 20 per cent higher than the $1,900-2,600 psf for the initial batch of about 90 units sold in the condo late last year.

    Some potential buyers may have found the quantum of price hike, taking place within a space of less than six months, 'a bit too heavy', as a market watcher put it.

    The most expensive unit sold yesterday is said to cost about $8.4 million; it is a four-bedder-with-study on the 51st level. The 'cheapest' of the 36 apartments is a three-bedroom apartment on the seventh storey priced at $3.5 milllion.

    The 90-odd units sold last year were mostly below the 46th storey sky terrace.

    Those who picked up a unit yesterday are said to comprise a good mix of foreigners and Singaporeans. BT understands the 36 apartments offered range from 1,615 sq ft for a three-bedder to 2,690 sq ft for a four-bedder with study.

    Marina Bay Suites has a total 221 units, comprising 218 three- or four-bedroom apartments and three penthouses. A typical floor has only four apartments with private lift lobbies in every unit. Each penthouse comes with its own swimming pool.

    While the earlier preview was held on the mezzanine level of One Raffles Quay, yesterday's sales were at a showflat built on the fourth floor of the Marina Bay Financial Centre Office Tower 1.

    The latest preview was open to those who had registered interest. From today, sales will be by appointment. The project is being marketed by CB Richard Ellis and DTZ.

    This week's preview is timed to ride on the partial opening of the nearby Marina Bay Sands integrated resort on Tuesday.

    Marina Bay Suites is being developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.

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    Marina Bay Suites in District 1 has a nëw hïgh of $3,132 psf!


    Private Residential Units Sold in the Month of April 2010
    Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Marina Bay Suites . CCR ........ 221 ...................... 5 ............................ 3,132 ........... 2,678 ........... 2,220

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