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Thread: the marQ (D9, Freehold, SC Global)

  1. #1
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    Default the marQ (D9, Freehold, SC Global)

    Property
    Published January 18, 2007

    SC Global to launch high-end project by Q3

    Units' prices in the two-tower freehold development are expected to exceed $2,800 psf


    By UMA SHANKARI


    SC GLOBAL Developments hopes to set a new benchmark in high-end living with the launch of its latest luxury project, the marQ on Paterson Hill, in the second or third quarter of this year.



    marQ of luxury: One of the two towers will feature a 15-metre private lap pool in every apartment


    Units in the two-tower freehold development - where one tower will feature a 15-metre private lap pool in every apartment - are expected to fetch prices upwards of $2,800 per square foot (psf).

    With the marQ, SC Global chief executive Simon Cheong hopes to re create the feeling of living in a good class bungalow (GCB) - but in a high-rise development. 'The marQ aims to create something that you can achieve in a bungalow, like staying on landed property,' he said, pointing out that most GCBs come with a private pool.

    The marQ will have two 24-storey towers, but the number of units will be kept small - between 60 and 70 - to allow for bigger apartments. SC Global promises 'spacious homes', including 4,500 sq ft units and a 'one of a kind' 11,000 sq ft super penthouse.

    Construction on the project will probably start in the third or fourth quarter of this year, Mr Cheong said. He added that he is in 'no rush' to launch the project, as much attention will need to be paid to the design and other details.

    If launched in the second quarter, the marQ's debut will follow hot on the heels of Orchard Turn, which is expected to be offered to buyers in the next two months. The 99-year leasehold Orchard Turn is a joint venture between CapitaLand and Hong Kong's Sun Hung Kai Properties.

    The project, located right above Orchard MRT station, also aims to create the feeling of 'super-luxury', and hopes to set new benchmark prices.

    With these and other upmarket launches expected, Mr Cheong predicts that prices in the luxury segment could climb another 20 to 30 per cent this year.

    Lending weight to his optimism, GuocoLand yesterday said that The View @ Meyer, an exclusive boutique development in the East Coast, has set a benchmark price for the Meyer Road area.

    'Apartments on the higher floors with an unobstructed sea view have achieved selling prices of close to $1,700 psf,' said the company. 'The average price for the standard sea view units is close to $1,500 per sq ft, a price level not witnessed in the Meyer Road area in almost a decade.'

    About 80 per cent of the 45 units at The View @ Meyer have been sold on a strictly by-appointment basis earlier this month, GuocoLand said.

    While speculative activity has been rife for the high-end developments launched recently, Mr Cheong expects most of the marQ's buyers to be investors who will hold on to the property and in some cases, move in once the project is completed.

    'The marQ is, by far, the most luxurious and ambitious of our developments to date,' said Mr Cheong. 'In keeping with our reputation for creating premium luxury developments, the marQ will raise the mark for ultra high-end luxury residences, not only in Singapore but also internationally.'

  2. #2
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    Default SC Global to set near record prices for marQ

    Singapore Companies
    Published January 24, 2007

    SC Global to set near record prices for marQ


    SC GLOBAL Development Ltd, a builder of luxury apartments in Singapore, plans to price homes at its downtown project at 'north of $3,000 per square foot', chief executive Simon Cheong said.

    The twin-tower development, called the marQ on Paterson Hill, will include 15-meter lap pools in every apartment for one block.

    It is the latest residential offering in the area close to the Orchard Road shopping belt. In June, Kwek Leng Beng's City Developments Ltd set a record by selling units at its St Regis project at prices exceeding $3,000 per square foot.

    'Property is a sentiment game, and one cannot predict the prices just through demand and supply,' Mr Cheong said in an interview yesterday.

    The government has 'taken very major steps' to make Singapore into a global city. 'With that, you're looking at global pricing,' he added.

    The developer plans to start selling homes in the downtown development in the second half, Mr Cheong said. SC Global said in March it bought the property for $266 million.

    SC Global's shares have surged 70 per cent since the start of the year, the best performer on the Singapore property index. The stock lost 2 cents to close at $4.24 yesterday.

    Singapore's private home prices rose for the 11th quarter in the last three months of 2006, the government said earlier this month.

    'The Singapore market has been in the doldrums for so long that when fundamentals improve, prices start to run ahead,' said Leslie Chua, head of research at Jones Lang LaSalle. - Bloomberg

  3. #3
    yktan
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    Default Re: the marQ (D9, Freehold, SC Global)

    This will be very very very expensive. St Thomas Suites is very cheap compared to this. If you want to live in Orchard, better buy now all the $1,700 psf condos because prices will never come back to this level again.

  4. #4
    $$$$$$$$$$$$$$$
    Guest

    Default Re: the marQ (D9, Freehold, SC Global)

    do u think can be sold out? hmmmmmmmmmm.... why oei hong leong exited SC Global? $$$$$$$$$$$$$$$$$$$$$$$$$$$$

  5. #5
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    Default Re: the marQ (D9, Freehold, SC Global)

    Quote Originally Posted by $$$$$$$$$$$$$$$
    do u think can be sold out? hmmmmmmmmmm.... why oei hong leong exited SC Global? $$$$$$$$$$$$$$$$$$$$$$$$$$$$
    It will be sold out. We r reaching the height of speculation for these luxurious properties. But by year end, when another 4000 of these units are launched, the fever would be gone. Many people would drown in their own pool.

  6. #6
    teeceelee
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    Default Re: the marQ (D9, Freehold, SC Global)

    Madeira, I agree with you. Now I just sit back and enjoy the show. The worst scenario for me personally is that I may miss the boat but I have already factor in this in my decision liao!

  7. #7
    yktan
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    Default Re: the marQ (D9, Freehold, SC Global)

    Quote Originally Posted by teeceelee
    Madeira, I agree with you. Now I just sit back and enjoy the show. The worst scenario for me personally is that I may miss the boat but I have already factor in this in my decision liao!
    So you are waiting to buy all the luxury properties when the price goes down huh?

  8. #8
    teeceelee
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    Default Re: the marQ (D9, Freehold, SC Global)

    hi yktan, u r a joker lah

  9. #9
    ryan
    Guest

    Default Re: the marQ (D9, Freehold, SC Global)

    Hey how are y'all doing. Glad to see more postings on this forum. This marQ will definitely set new price benchmarks in Orchard. Looking forward to viewing the show suite!

  10. #10
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    Default Re: the marQ (D9, Freehold, SC Global)

    The Marq on Paterson Hill has been launched by SC Global at an average of S$4,000 psf. Price range from S$12.0 to $S30.0 million per unit. Are you interested? Pse see attachment.

    Press_Release_The_Marq_Debut_20June2007.pdf

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