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Thread: Madison Residence (D10, Freehold, Keppelland)

  1. #1
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    Default (Former NAGA COURT)

    Upcoming launches...(Former NAGA COURT) at prime district 10 along Bukit Timah Road.

    - 18 storey freehold development
    - Exclusive 56 units of 3-br, 4-br and penthouses
    - Within 1 km radius to schools like ACS and SCGS
    - Close to Orchard Road (5 mins) and CBD (10 mins)
    - Proximity to future Stevens MRT station
    - Good investment potential as location enjoys high demand from locals and expatriates

    Serious buyers/investors kindly REGISTER now for good choice unit and get preview price. Call +65-96969033, email [email protected] or view www.sinproperty.com


    DAVE YONG
    ERA - Project Specialist
    Attached Images Attached Images

  2. #2
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    Default Madison Residence (D10, Freehold, Keppelland)

    Description: Proposed 18-storey residential development

    Location: 355 Bukit Timah Road (Between Balmoral Road & Robin Road)

    Tenure: Freehold

    Total Units: 56

    Unit Types:
    3 Bdrm
    4 Bdrm

    Expected Date of TOP: December 2011

    Price: TBA

  3. #3
    psf?
    Guest

    Default

    may i knw wat is psf pricing? I have seen the location it is beside The Legend.
    Quote Originally Posted by richardsng_era
    Description: Proposed 18-storey residential development

    Location: 355 Bukit Timah Road (Between Balmoral Road & Robin Road)

    Tenure: Freehold

    Total Units: 56

    Unit Types:
    3 Bdrm
    4 Bdrm

    Expected Date of TOP: December 2011

    Price: TBA

  4. #4
    newproject
    Guest

    Default New Freehold Project launching soon at Bukit Timah!!

    Location/ Address
    355 Bukit Timah Road ( Former Naga Court Site)

    Between Balmoral Rd and Robin Road

    Tenure of Land Freehold

    Expected T.O.P Dec 2011

    Description
    Proposed 18 storey residential development comprising 56 units of 3 bedrooms and 4 bedrooms with communal facilities and basement carpark

    No. of Units 56 units
    Facilities 50 metre lap pool, Jaccuzzi, Fun pool, Gymnasium, Clubhouse, Playground, fitness station etc

    Please email me at [email protected] to register

    for preview

    Rgds

  5. #5
    Junior blackjack21trader's Avatar
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    Default

    We all would appreciate if you can attach a picture or two. Thanks.

  6. #6
    newproject
    Guest

    Default

    Will post pictures once it is ready

    Thanks

  7. #7
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    http://www.businesstimes.com.sg/sub/...94318,00.html?

    Published August 28, 2008

    Developers weigh odds for launches after Ghost Month

    Some may want to test market now rather than risk deterioration in sentiment

    By KALPANA RASHIWALA


    (SINGAPORE) Some developers have been quietly oiling their launch machinery in the past few weeks as they get ready for previews and launches, especially with the Hungry Ghosts Month ending this Saturday.


    Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. The freehold project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft.

    With the property outlook expected to worsen before it gets better, there may just be an incentive for some to launch their projects sooner - or wait it out till late-2009/2010, a seasoned property consultant told BT.

    Another consultant, Knight Frank executive director Peter Ow, said: 'Whatever name you call it - preview, private invitation, etc, the aim is for developers to test the market. If the response is sufficient at the price they want, they'll begin sales. If the response isn't up to what they want, they won't sell. As a developer, you don't want to risk launching a project, selling a few units and getting stuck.'

    Projects that have begun to be previewed this month include Far East Organization's 85-unit freehold Miro at the corner of Lincoln and Keng Lee roads (at an average $1,600 per square foot) and a 54-unit cluster housing project at Greenwood Avenue. Units in the 103-year leasehold development range from 3,000 to 3,700 sq ft.

    Over at Nathan Road, Tat Aik Group has been inviting potential buyers to view Nathan Residences, a 91-unit freehold project priced at around $2,000 psf on average.

    Keppel Land is also expected to release this weekend in Hong Kong and Singapore about 30-40 units under the next phase of Reflections at Keppel Bay.

    The average price is expected to be similar to the earlier phase launched around April last year, at about $1,800 to $2,000 psf. Deferred payment is expected to continue to be offered.

    Hong Fok Corporation's 360-unit Concourse Skyline apartments at Beach Road, KepLand's 56-unit freehold Madision Residence near the junction of Bukit Timah and Keng Chin roads, and City Developments Ltd's The Arte at Thomson are understood to be other projects that could hit the market soon.

    In the high-end segment - where sentiment is weakest - Far East Organization, which has already sold two units at its 28-unit luxury development Boulevard Vue at Cuscaden Road, opened its showflat for the project recently and is expected to step up marketing activity.

    The project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft. Prices for low- and mid-level units in the 33-storey freehold project range from $3,600 psf to $3,900 psf.

    BT understands the price tag for the bigger penthouse will likely be around the $4,500 psf mark, working out to an absolute sum of about $50 million. If achieved, the absolute amount would set a new record for a penthouse in Singapore.

    Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. BT understands that the unit layouts will be customised to buyers' preference.

    A critical factor affecting developers' launch decisions is pricing, given the bearish sentiment.

    'Pricing will be more realistic for fresh launches, but for projects released earlier, it would be difficult for established developers to trim prices without upsetting earlier buyers, especially VIPs,' the seasoned property consultant said.

    Agreeing, Jones Lang LaSalle Singapore's residential head Jacqueline Wong said: 'Such developers may just hold the remaining units in the project if necessary and have another shot at selling them upon the project's completion. For new projects too, the financially stronger players can hold off developing for a while.

    'However, developers who are fairly new or need the cashflow will have to be realistic in their pricing and will be more amenable to negotiating with buyers.'

    Another industry observer said that instead of outright price cuts, it may be easier for developers to attract new buyers into existing projects by offering furnishing vouchers, guaranteed yields (for newly completed projects) or arranging for attractive mortgage packages.

    A mid-sized developer said: 'We have to accept the fact that prices have to be marked to market; otherwise we can't sell enough units to generate the required cashflow. For sites bought within the past 12 months, developers would need to sell at least 50 per cent of the development to generate sufficient cashflow to finance the project's construction - taking into account high land price paid and rising construction costs, among other factors.'

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    http://www.businesstimes.com.sg/sub/...51940,00.html?

    Published March 21, 2009

    KepLand defers construction of Marina Bay Suites

    Building of Madison Residences also delayed by current market conditions

    By KALPANA RASHIWALA


    KEPPEL Land is deferring construction of the highly touted Marina Bay Suites (in which it has one-third stake) as well as Madison Residences in Bukit Timah, citing 'current market conditions'. KepLand is developing the 221-unit Marina Bay Suites jointly with Cheung Kong Holdings/Hutchison Whampoa and Hongkong Land.


    DELAYED
    Worsening sentiment in the high-end residential sector


    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. 'We are unable to provide details due to confidentiality,' she added. When asked, she also revealed that 'a decision has been made to defer the commencement of the main construction of Marina Bay Suites'. However, construction of another of the group's residential projects in Singapore, The Promont, located in Cairnhill, will continue.

    It has been one postponement after another for Marina Bay Suites because of deteriorating sentiment in the high-end residential sector. The tripartite partnership developing the condo had initially hoped to launch the project around end-January last year, but this was delayed to later the same quarter, and even then, that did not happen. The project has not been launched to date.

    KepLand's spokeswoman did not say how long the construction deferments for Marina Bay Suites and Madison Residences will be.

    In its release to SGX, KepLand said the construction deferment for Madison Residences is not expected to have any significant impact on the consolidated earnings per share and net tangible asset per share of the company for the current financial year ending Dec 31, 2009.

    Separately, construction group KSH Holdings also said in a statutory filing with SGX yesterday that it has agreed to the request of Keppel Land Realty to defer the construction of Madison Residences. The delay is not expected to have any material effect on KSH for the financial year ending March 31, 2009. KSH announced in April last year that it had won a $53 million contract from Keppel Land Realty relating to the construction of Madison Residences.

    In January, Keppel Land's group chief executive Kevin Wong said the group will conduct a review to see if it can delay building some of its projects. 'We are reviewing our operation costs as well as the project costs of all our development projects to trim fat and conserve cash, so that we can invest in any attractive opportunities that come along. 'This cost review exercise could include developing projects in phases to meet demand and even temporarily suspending the entire project if it does not add value to the company under current market conditions,' Mr Wong said then. Projects that are yet to be launched for sale are those that are most likely to be delayed both in Singapore and abroad, he added.

    KepLand's earnings for the year ended Dec 31, 2008 fell 70.8 per cent to $227.7 million, from $779.7 million in FY 2007.

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    http://www.straitstimes.com/Money/St...ry_352791.html

    March 21, 2009 Saturday

    KepLand to defer luxury project

    Madison joins others in weakening market that have been put on hold

    By Jessica Cheam


    Construction of the 56-unit luxury development in Bukit Timah was originally scheduled to start last June and a preview had already been held. -- PHOTO: MADISON RESIDENCES

    PROPERTY developer Keppel Land (KepLand) yesterday announced that it will defer the construction of its 56-unit development, Madison Residences, because of weak market conditions.

    The project has not been launched.

    Luxury condos such as the Madison have fallen out of favour in recent times as buyers turn to smaller, more affordable apartments.

    Some earlier reports said 'some units' had been sold at the preview of the Bukit Timah condo for a median price of $1,801 per sq ft (psf).

    However, KepLand said yesterday only one sale had been made, and that had been cancelled 'by mutual agreement'. It declined to give details.

    Analysts that The Straits Times spoke to said it was not uncommon for developers to offer to buy back units sold at the preview of a project if there were changes to its development.

    A search on the Urban Redevelopment Authority's website showed a single caveat lodged for a 1,776 sq ft unit at $3.1 million - or $1,745 psf - in September last year.

    'Given current market conditions, there is no urgency to proceed with the construction of Madison Residences. The launch or when the construction will resume for the project will depend on market conditions,' KepLand told The Straits Times.

    Construction was meant to start last June and take 21/2 years. Construction and property group KSH Holdings had won a $53 million contract from Keppel Land Realty to build Madison, it was reported.

    The project consists of luxury three- and four-bedroom apartments that range in size from 1,460 sq ft to 4,000 sq ft.

    Madison is the latest in a string of projects in the local property market that have been deferred in the wake of the global economic crisis.

    Luxury units seem to have been hit harder, noted analysts, as buyers now prefer mass-market, lower-priced condos.

    KepLand said in January that it would consider delaying the construction of some of its projects to save costs.

    Some measures unveiled in January by the Government in the Budget also gave developers greater flexibility in terms of selling their residential units.

    The measures include a one-year extension of the completion period for private residential projects. Also extended was the period in which developers with qualifying certificates need to dispose of all residential units, from two years to four. They can rent out unsold units during this time.

    CB Richard Ellis executive director Joseph Tan said there had been examples in the past of developers offering to buy back units if there were changes to the development plans. He noted that it was also not unusual for a project to be deferred even after the preview.

    In its statement to the Singapore Exchange, KepLand said the deferment is not expected to have any significant impact on the company's earnings per share for the current financial year.

    [email protected]

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    Default New [email protected]/Bukit Timah!/Freehold/ 1 km to SCGS!!

    MADISON RESIDENCES

    (Exclusively Yours)

    Situated in the most sought after District 10, Bukit Timah vicinity

    Prestigious freehold boutique development with exclusive 56 units

    Within 1Km to Reputable schools like SCGS & Anglo Chinese School

    High & Majestic Lobby to welcome residents

    All units comes with Balcony & Private Lift

    3 / 4 bedrooms & Penthouses available

    Basement Carparking Lots

    Quality Finishes


    Sms at 90686016 for Preview and more details!!


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