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Thread: Perfect Ten (D10, Freehold, CK Asset Holdings)

  1. #1
    Join Date
    Oct 2011

    Default Perfect Ten (D10, Freehold, CK Asset Holdings)

    CK Asset Holdings’ Perfect Ten to open to public on Dec 8

    EdgeProp Singapore

    November 23, 2021

    SINGAPORE (EDGEPROP) -- The sales gallery of Perfect Ten, a project by prominent luxury property developer CK Asset Holdings, will open to the public on Dec 8.

    The freehold condominium is a redevelopment of the former City Towers on Bukit Timah Road, which CK Asset Holdings purchased for $402 million in 2019.

    Located in prime District 10, Perfect 10 will have twin towers of 24 storeys with a total of 230 apartments. The project is designed by acclaimed Singapore-based architectural firm, DP Architects. Units will have a panoramic view, with 80% enjoying a view of the Bukit Timah Nature Reserve.

    "In recent months, many investors have been buying luxury properties in Singapore," comments Christine Sun, senior vice president of research and analytics at OrangeTee & Tie. "Demand may also strengthen further as more Singaporeans, PRs and foreigners return to Singapore [with more vaccinated travel lanes set up]."

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  2. #2
    Join Date
    Oct 2011

    Default Re: Perfect Ten (D10, Freehold, CK Asset Holdings)

    Perfect Ten in Bukit Timah to launch for sale at prices starting from S$2.5m

    Dec 07, 2021

    HONG KONG-BASED developer CK Asset Holdings is banking that the luxury market will continue to remain buoyant as it readies to launch its upcoming development Perfect Ten for sale on Dec 19.

    The 230-unit freehold development in Bukit Timah in District 10 will comprise 2-bedroom apartments spanning 753 to 797 square feet (sq ft), and 3-bedroom apartments ranging from 1,227 to 1,281 sq ft.

    Prices start from S$2.5 million for 2-bedders on low floors to S$2.9 million for those on high floors. For 3-bedroom units, the indicative price ranges from S$3.9 million on low floors to S$4.4 million on high floors. This translates to about S$3,200 to S$3,700 per square foot (psf).

    The sales gallery opens to the public from Dec 8.

    Perfect Ten, which sits on the site of the former City Towers, will feature twin 24-storey towers. City Towers was sold via collective sale in 2019 to CK Asset for S$401.9 million, or a land rate of about S$1,847 psf per plot ratio after factoring in development charges.

    "We remain optimistic that demand for property will continue to be strong in 2022," said Francis Wong, director of Property Enterprises Development (Singapore), which is linked to CK Asset.

    "The global economy is poised to recover given the opening up of borders and increasing vaccination rates. However, we will have to continue observing the economic recovery and the border measures taken by various countries closely, given the emergence of the new Omicron variant."

    Where the luxury segment is concerned, Wong expects that it will continue to gain ground. "Singapore's luxury property market continued its hot streak in Q3 2021, and demand for luxury homes has been steadfast," he noted.

    "Locally, the steady rise of incomes and higher living standards facilitate the growth of demand for premium homes," Wong said, adding that Singapore remains a popular choice among foreign buyers.

    The developer expects the majority of buyers for Perfect Ten to be from Singapore, although Wong added that the project may draw seasoned investors and buyers from Hong Kong, China and South-east Asia as well.

    CK Asset - which is backed by Hong Kong tycoon Li Ka-shing - has a substantial portfolio in Hong Kong and China, as well as a presence in Singapore and the United Kingdom. Earlier this year, its luxury residential project in Hong Kong's Mid-Levels, 21 Borrett Road, clocked a record price of S$23,000 psf.

    In Singapore, it has developed projects such as Stars of Kovan at Upper Serangoon Road, Thomson Grand at Upper Thomson Road, and Cairnhill Crest. As part of a consortium which included Keppel Land and Hongkong Land, it also had a role in developing Marina Bay Financial Centre and One Raffles Quay.

    Features at Perfect Ten - which is due to TOP in November 2025 - include a clubhouse and a private "crystal sky" elevator. A 5-minute drive from Orchard Road, it also has schools such as Anglo-Chinese School (Primary) and Singapore Chinese Girls' School within a 1-kilometre radius.

  3. #3
    Join Date
    Oct 2011

    Default Re: Perfect Ten (D10, Freehold, CK Asset Holdings)

    Luxury condo Perfect Ten opens for preview, prices to start from $3,200 psf

    EdgeProp Singapore

    December 7, 2021

    SINGAPORE (EDGEPROP) - CK Asset Holdings, the flagship real estate company controlled by Hong Kong billionaire Li Ka-Shing, will open the sales gallery of its latest residential development on Dec 8.

    Perfect Ten is a freehold development on Bukit Timah Road in prime District 10. The developer says the sales launch will take place on Dec 19.

    The new development features two 24-storey towers with 230 units. The unit mix will only have two-bedroom units from 753 sq ft to 797 sq ft and three-bedroom units from 1,227 sq ft to 1,281 sq ft.

    The developer has indicated that two-bedroom units on lower floors will have an indicative price of $2.5 million while units of this type on the higher floor will be priced from $2.9 million. Meanwhile, three-bedroom units on lower floors will be priced from $3.9 million while units on high floors will start from $4.4 million.

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  4. #4
    Join Date
    Oct 2011

    Default Re: Perfect Ten (D10, Freehold, CK Asset Holdings)

    Bukit Timah condo project Perfect Ten dangles 5% discount amid cooling measures

    Dec 16, 2021

    THE 230-unit luxury freehold development Perfect Ten, slated to go to the market this Sunday (Dec 19), is now offering buyers a one-time, 5 per cent discount at its launch weekend.

    The project's developer, Hong Kong-based CK Asset Holdings, is going ahead with the original launch date, which is just days after fresh property curbs were rolled out on Thursday (Dec 16) to cool the residential market.

    Francis Wong, director of Property Enterprises Development (Singapore), a member of CK Asset, said in a press statement that the company decided to offer the discount as a token of appreciation for the support from prospective buyers, and "as a means to facilitate their decision making in view of the new cooling measures".

    Wong noted that there has been robust interest from many potential buyers since the sales gallery opened to the public for preview on Dec 8.

    The developer also released the selling prices of 10 units at Perfect Ten on Thursday. Their per square foot (psf) prices range from S$3,200 to S$3,618 before the discount, which works out to about S$3,040 to S$3,437 after the discount is applied.

    Among these 10 residences, the two-bedroom units' pre-discount prices range from nearly S$2.5 million to around S$2.9 million. And the three-bedroom units' pre-discount prices range from almost S$4 million to about S$4.4 million.

    Wong said that Perfect Ten, located along Bukit Timah Road, has unique attributes and values that appeal to buyers including Singapore citizens, permanent residents (PRs) and foreigners. "For this reason, the offer is applicable to all buyers, but only for one time, this weekend," he added.

    Perfect Ten, which is due to obtain its temporary occupation permit in November 2025, features a private "crystal sky" elevator. Wong on Dec 7 said that the majority of buyers for the District 10 project were likely to be from Singapore, although it might also draw seasoned investors and buyers from Hong Kong, China and South-east Asia.

    The latest package of cooling measures, including higher additional buyer's stamp duty rates, is expected to clip investment demand especially for high-end homes, property analysts said. Foreign buyers, en bloc candidates and developers could also feel the pain keenly. First-time Singaporean and PR homebuyers are likely to be the least affected.

    Besides Perfect Ten, another new project launch was originally scheduled for this weekend. Boldtek Holdings' 34-unit freehold Zyanya in Geylang was initially set to commence bookings on Saturday (Dec 18), but has rescheduled its launch to Thursday (Dec 16) instead.

  5. #5
    Join Date
    Oct 2011

    Default Re: Perfect Ten (D10, Freehold, CK Asset Holdings)

    [UPDATE] Perfect Ten sells 12 units on launch day

    EdgeProp Singapore

    December 19, 2021

    SINGAPORE (EDGEPROP) - Despite the property cooling measures that came into effect from Dec 16, property group CK Asset Holdings, one of the flagships controlled by the family of Hong Kong’s richest tycoon Li Ka-shing, went ahead with its launch of Perfect Ten today.

    As at 5pm, about 12 units were sold, of which eight were two-bedroom units and four were three-bedroom units, according to a source. Buyers were said to be largely Singaporeans. Average price achieved is said to be $3,200 psf. The developer declined to comment.

    CK Asset Holdings announced on Dec 16 that it was offering “a one-time discount” of 5% to buyers over the weekend. This was “to facilitate their decision making in view of the new cooling measures,” commented Francis Wong, director of Property Enterprises Development (Singapore), a member of CK Asset Holdings.

    According to the developer’s press release on Dec 16, After the 5% discount for selected units, the starting price for a second floor (low-floor) unit was reduced to $3,040 psf from $3,200 psf before; and starting price for a 19th floor (high-floor) unit began from $3,437 psf, instead of $3,618 psf prior to the measures.

    Located in Singapore’s prime residential enclave of Bukit Timah in District 10, the freehold Perfect Ten has a total of 230 units with a mix of two- and three-bedroom apartments. Sizes of the two-bedroom units start from 753 sq ft to 797 sq ft, while three-bedroom units are from 1,227 to 1,281 sq ft.

    “Even at the lower initial launch price, Perfect Ten has still set a new benchmark above $3,000 psf in the Bukit Timah area,” says Mark Yip, CEO of Huttons Asia. “The sales are commendable for the launch day of a new luxury condo project in the wake of the cooling measures imposed just four days ago.”

    Most projects would have been pushed back after such draconian property cooling measures but not Perfect Ten, adds Yip. “Buyers are buying based on the reputation of the developer,” says Yip. “So, overall, it was a good sales outcome.”

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  6. #6
    Join Date
    Oct 2011

    Default Re: Perfect Ten (D10, Freehold, CK Asset Holdings)

    Average prices at Perfect Ten hit $3,000 psf with 27% of units sold

    July 28, 2022

    Seven months after the luxury project Perfect Ten on Bukit Timah Road was launched for sale in December 2021, at least 64 units (27%) have been sold by the developer, CK Asset Holdings. The Hong Kong-based company is the flagship real estate company of Hong Kong billionaire Li-Ka Shing.

    According to Justin Chiu, executive director of CK Asset Holdings, about 80% of the buyers so far are locals and 10% are permanent residents. The rest are buyers from mainland China and Hong Kong. He says that approximately two-thirds of the units sold are two-bedroom units, while the rest are three-bedders.

    Perfect Ten is a freehold development in prime District 10. The 230-unit development comprises two 24-storey towers, and the project is designed by Singapore-based architectural firm DP Architects. So far, the developer has released units in one of the residential towers that comprises 115 units.

    The development comprises two-bedroom units of 753 to 797 sq ft and three-bedroom units of 1,227 to 1,281 sq ft.

    The developer has just refreshed its sales gallery, incorporating new interior designs into its two- and three-bedroom show units. The developer says it plans to regularly overhaul the show unit designs.

    “We want our buyers to see something new each time they visit the show flat. We hope this gives them an incentive to consider the project and a more memorable experience when they visit,” says Chiu.

    “Sales [at Perfect Ten] have picked up quite a bit in the past few months, and we are encouraged by the pace of sales so far. We hope to launch units in the next tower later this year or early next year,” he says.

    He adds that most overseas buyers of Perfect Ten are either businessmen with established businesses in Singapore, or parents who intend to educate their children in Singapore.

    In addition, “the impact of the property cooling measures in Singapore has given more opportunities for local buyers to invest in new launches such as Perfect Ten”, says Chiu. He says that a good portion of the buyers so far are younger homeowners, and some are tapping their parents’ finances to secure a District 10 home.

    “Most of the time, these buyers already live in the area, and they are drawn to the development due to its design and the size of our units,” he says.

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