Published December 13, 2006

Good start for sale of Marina Bay Residences


AT LEAST 130 units are said to have been sold on the first day of preview at Marina Bay Residences yesterday - at prices ranging from $1,700 to $2,000-plus per square foot.

Rival: Meanwhile, City Developments is drumming up publicity for its project in the vicinity, One Shenton

Meanwhile, rival developer City Developments began drumming up publicity for a nearby project, One Shenton, comprising 341 apartments in two towers on its 1 Shenton Way site.

CityDev did not provide pricing indication for its 99-year leasehold project, which will be in 50 and 42-storey towers.

Nor could it specify the launch date - only giving a general indication that this is expected by year-end or early 2007.

At Marina Bay Residences, the maiden day of previews was open to staff and directors of the three companies behind the project - Keppel Land, Hongkong Land and Cheung Kong Holdings - as well as to VIPs invited yesterday. Bankers, lawyers, architects and doctors are among those who toured the showflat, which is at One Raffles Quay, BT understands.

The project's developer, BFC Development Pte Ltd, progressively released more units in the project as it chalked up sales. The 99-year leasehold, 55-storey development, has 428 units in total.

More units are expected to be released and sold today.

BFC Development's head of residential marketing Kan Kum Wah would only say in statement last night: 'It is too early to provide any detailed information.

Yesterday, a number of joint-venture staff members and business partners have toured the show suite and there has been lots of interest and all have been very impressed at what is on offer, but it's too early to provide a sales indication.'