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Thread: CityDev sells 150 units of The Arte for $190m

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    Default CityDev sells 150 units of The Arte for $190m

    http://www.businesstimes.com.sg/sub/...28764,00.html?

    Published April 17, 2009

    CityDev sells 150 units of The Arte for $190m


    THE buzz continues at property launches on the island. City Developments said yesterday that it achieved about $190 million of sales from selling about 150 units at The Arte at Thomson since March 21.

    The freehold project is priced at $880 psf on average. No premium is being being charged for an interest absorption scheme (IAS) that CDL has extended to buyers. The scheme means buyers pay just the initial 20 per cent to CDL and defer paying the bulk of their purchase price until The Arte is completed. However, buyers have to take up a housing loan at the point of purchase.

    CDL has released 180 of the total 336 units in the project, which comprises two 36-storey high towers.

    The majority of The Arte's buyers have private home addresses. Most of the units are going for under $2 million.

    Over at Holland Road, Bukit Sembawang is releasing more units at its freehold Verdure from today. It has sold 14 of the 34 apartments in the five-storey project released last weekend. Verdure comprises 69 apartments, with an average price of about $1,350 psf, and six strata semi-detached homes, which cost about $4.8 million on average.

    Bukit Sembawang had previously offered an IAS without charging any premium, but from today, buyers will have to pay 2 per cent more to benefit from the IAS.

    Over at Tembeling Road in the Katong area, Alpha Land International is offering a small development with a total of 12 apartments. Prices in the five-storey freehold project, which is expected to be completed towards the end of this year or early next year, range from $663,840 (for an 818 sq ft two-bedroom unit) to $1.64 million (for a 2,379 sq ft four-bedder penthouse).

    Alpha Land is offering an early bird discount in the form of renovation packages ranging from $10,000 to $25,000, depending on the size of the units. Tembeling Court is being marketed by Texan Associates.

    Sim Lian Group will also launch its 360-unit HDB project Parc Lumiere tomorrow. Offered under HDB's design, build and sell scheme, units in the Simei development have an average selling price of $425 psf. Parc Lumiere has four and five-room flats, with four-room flats selling for $378,000-$425,000 and five-room flats going for $462,000-$575,000.

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    http://www.channelnewsasia.com/stori...422816/1/.html

    Sales at City Development's "The Arte" surpassed 80%

    By Valarie Tan, Channel NewsAsia | Posted: 16 April 2009 2028 hrs


    SINGAPORE: City Developments (CDL) said sales at "The Arte" condominium project have surpassed the 80 per cent mark.

    The developer said 150 units were snapped up in a Phase 1 launch recently with S$190 million of deals recorded.

    Most of those sold went for under S$2 million.

    The 336-unit freehold project at Thomson Road has been priced at an average of S$880 per square foot, with units ranging from 1,055 sq ft for a two-bedroom apartment to 4,000 sq ft for a penthouse.

    CDL has also offered buyers an interest absorption scheme which allows them to defer the bulk of their purchase till completion.

    New private home sales surpassed the 1,000 mark in March, the second month in a row. - CNA/vm

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    They only talk about sales. issue first cheque already considered sale. what about buyers who later forego cheques and drop the unit?...

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