Page 1 of 25 123456111621 ... LastLast
Results 1 to 10 of 249

Thread: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

  1. #1
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    Singapore Companies
    Published November 3, 2006

    CapitaLand, Lippo set to launch Redhill condo

    By KALPANA RASHIWALA

    CAPITALAND and Lippo begin previewing their 45-storey The Metropolitan Condominium next to Redhill MRT Station this weekend. Sources say the price has yet to be finalised but is expected to average between $750 per square foot and $800 psf.

    The developers are building the 99-year leasehold project on a site that they clinched at a state tender which closed in November last year. Their nearly $180 million top bid worked out to $350 psf of potential gross floor area. Analysts estimate The Metropolitan Condo's break-even cost at about $550-580 psf.

    The development will comprise two blocks which will be linked at at the sky gardens level. Units on upper levels are expected to boast scenic views of the Tanglin/Jervois Good Class Bungalow area.

    The project will comprise 382 units in total. The bulk of the units are two- or three-bedroom apartments.

    Property industry observers are keenly watching the final price CapitaLand and Lippo decide on for the latest indication on the health of the 99-year leasehold suburban condominium market.

    UOL and United Industrial Corporation are currently said to be achieving an average price of $850 psf for their 35-storey The Regency at Tiong Bahru freehold condominium at the former Bo Bo Tan Gardens site near Tiong Bahru MRT Station (one station away from Redhill MRT).

  2. #2
    joe
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    yes, received SMS from agent about this.

    TOP 2009

    2/3/4 bedroom

    45 storey

    Average $750 per sq foot

  3. #3
    Makelele
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    I eagerly await your report on the buyer response of The Metropolitan

  4. #4
    joe
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    Quote Originally Posted by Makelele
    I eagerly await your report on the buyer response of The Metropolitan
    ST reported today 100 buyers queue from 3am 4 nov to book a unit at The Metropolitan next to Redhill MRT. 99 years selling at $780 psf average.

    Preview on 4 Nov, today already over 200 units sold(4days), not official launch yet! Out of 382 available. Ave px. done @780psf.

    Nearby The Regency by UOL/UIC all sold except 8 units left! Ave px. done @ 850psf. Total 158 units; preview 6 wks ago.

  5. #5
    joe
    Guest

    Default CapitaLand sells 188 units of new condo in 2-day preview

    CapitaLand sells 188 units of new condo in 2-day preview

    By Fiona Chan
    Nov 07, 2006
    The Straits Times

    DEMAND for a new condominium in Alexandra Road was so strong that a queue of more than 100 home-buyers started forming at 3am on Saturday.
    Developers CapitaLand and Lippo Group saw 188 units at The Metropolitan snapped up during the weekend preview - more than the 180 units they had originally intended to release at this stage.

    This makes the 99-year leasehold condominium one of the best-selling in a single weekend this year, beating The Centris in Jurong, which saw about 150 units sold in its three-day preview weekend in September.

    Although it still ranks behind The Sail @ Marina Bay, which sold 250 units in a single day last year, the intense interest in The Metropolitan is seen as the latest sign that property fever is mounting in Singapore.

    The high level of demand led CapitaLand to open the condominium's sales office an hour early at 9am on Saturday.

    It also means that almost half of The Metropolitan's 382 units have been snapped up, even before its official launch this weekend.

    CapitaLand said the overwhelming response led it to offer a second batch of 70 units on Sunday on top of the original 180 units slated for preview sale.

    Prices at the project range from $511,000 for a 778 sq ft two-bedder on the fifth floor to $1.45 million for a 1,700 sq ft, four-bedroom unit on the 42nd floor.

    This works out to an average of $780 per sq ft (psf), compared with about $750 psf for nearby Tanglin View, a 99-year leasehold condominium by Far East Organization that was launched in 1997 and still has 30 of its 384 units unsold.

    But The Metropolitan's 11 penthouses, which have not yet been released for sale, are likely to have higher prices on a psf basis.

    They will range from 2,454 sq ft to 3,412 sq ft and their prices will start at $2.5 million, CapitaLand said.

    This confirms a trend noted by The Straits Times last Friday of bigger apartments fetching higher psf prices than smaller ones, as tight supply and strong demand from foreigners and large families push up the prices of such units.

    About 30 per cent of The Metropolitan buyers were foreigners, mostly from China and Australia, said Ms Patricia Chia, CapitaLand Residential's chief executive.

    The development caters specifically to large families, offering buyers options such as subdividing a three- or four-bedroom apartment or combining two two-bedroom units.

    As well, its city-fringe location next to Redhill MRT Station, satisfies 'pent-up demand' in the market, added Ms Chia.

    'In the last few years we haven't seen a project of this scale that is so near to the city,' she said.

    Part of The Metropolitan's appeal may lie in an unusual discount that its developers are offering to buyers looking to upgrade from more remote suburban areas to the city-fringe.

    Buyers who are currently living in districts such as Woodlands, Punggol and Pasir Ris get a 1 per cent 'moving closer' discount if they buy a unit. About 30 per cent of The Metropolitan buyers have taken advantage of the discount so far.

    The Metropolitan is the latest in a series of condominiums drawing keen interest even before they are officially launched. As home prices climb and buyers try to get in on the action early, several condominiums across the board have seen successful pre-launch previews this year.

    They range from high-end developments like Tate Residences in Claymore Road to entry-level projects such as The Centris.

    Home prices in Singapore rose 6 per cent in the first nine months of this year. CapitaLand's Ms Chia expects this figure to reach close to 10 per cent by year-end and prices to climb by 10 per cent to 15 per cent next year.

    [email protected]

  6. #6
    sillyporeans!
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    i think the people who paid $780 psf for M are very silly. M is 99 year lease hold and next to above ground MRT and surrounded by HDB flats.

    i know of people who bought newton suites for only $800 plus psf. near MRT, cold storage, near orchard, now newton one and residence at evelyn are selling for $1,400psf.

    I also know people who bought cliften for $800 psf. Cliften this one lagi best, freehold, near town, also near 33 Robin which is selling for $1,600 psf above.

    I dunno why silliporeans so stupid to buy M at that price!

  7. #7
    Newbie
    Join Date
    Nov 2006
    Posts
    24

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    My wife & I were there at M's soft launch as well. People are crazy, buying units even before looking. Maybe they have done enough homework with their agent before the launch??

    We are very curious, why not buy a property from Taglin View across the road which has a bigger footprint? If my intel is correct, there are left over units still in Tanglin View. Also, it is not next to the MRT but near enough.

  8. #8
    doomsayer
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    The Metropolitan will not sub-sell well. There is going to be a shitload of sub-sale advertisements for the Metropolitan with few takers.

    The heat is on over in the CBD/Marina Bay. Not here. If you want to flip or speculate, that is the area to be. NOT HERE. At least not in the near future.

  9. #9
    Newbie
    Join Date
    Nov 2006
    Posts
    24

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)

    I do agree with you. The prices had been driven up by people whom had "missed" the Twin Regency, Regency, etc that are 1 MRT stop away. Seems like speculators that need to flip soon may be burnt.

  10. #10
    Unregistered
    Guest

    Default Re: The Metropolitan Condominium (D3, 99 years LH, Capitaland-Lippo JV)


Page 1 of 25 123456111621 ... LastLast

Similar Threads

  1. D'Leedon (D10, 99 years leasehold, Capitaland)
    By richardsng_era in forum District 10
    Replies: 2556
    -: 17-08-18, 20:56
  2. Replies: 24
    -: 29-07-18, 10:18
  3. Replies: 0
    -: 25-02-16, 19:21
  4. CapitaLand, Lippo to sell condo-backed bonds
    By mr funny in forum Finance and Legal
    Replies: 0
    -: 04-07-07, 14:51
  5. CapitaLand, Lippo set to launch Redhill condo
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 03-11-06, 12:25

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •