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Thread: City Vista (D9, Freehold, Chip Eng Leong)

  1. #1
    ryan
    Guest

    Default City Vista (D9, Freehold, Chip Eng Leong)

    Venus Mansion (Peck Hay Road) en bloc to launch.

    Showflat along Anthony Rd (ready in June 07)

    It will be 20 storeys and 70 units.

  2. #2
    Unregistered
    Guest

    Default Re: City Vista (D9, Freehold, Chip Eng Leong)

    Yes i went to see the site and called up the number. They refused to disclose price. Whether it is a good or bad thing, i don't know.

  3. #3
    lousy name
    Guest

    Default Re: City Vista (D9, Freehold, Chip Eng Leong)

    They should rename it to something that sounds more classy. City Vista sounds like City Square, City Edge, City Lights, etc all low and mid end developments. Come on man! This is district 9 Cairnhill. Why name it like the rest? Will the potential buyers buy something that sounds so cheap? I don't understand the developers some times.

  4. #4
    meesiammaihum
    Guest

    Default Re: City Vista (D9, Freehold, Chip Eng Leong)

    Quote Originally Posted by lousy name
    They should rename it to something that sounds more classy. City Vista sounds like City Square, City Edge, City Lights, etc all low and mid end developments. Come on man! This is district 9 Cairnhill. Why name it like the rest? Will the potential buyers buy something that sounds so cheap? I don't understand the developers some times.
    What about Venus Vista?

  5. #5
    Unregistered
    Guest

    Default Re: City Vista (D9, Freehold, Chip Eng Leong)

    Quote Originally Posted by meesiammaihum
    What about Venus Vista?
    or The Residence Suites @ Venus De Cairnhill Regency Confirm sold out one.

  6. #6
    RE Pundit
    Guest

    Default WILL CITYVISTA BE A CASUALTY OF US SUB-PRIME FALLOUT?

    City Vista is a JV between Chip Eng Seng and Lehman Brosthers Group.......this development is 54% sold. Will it be a casualty of events happening half the world away?

  7. #7
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default

    http://www.businesstimes.com.sg/sub/...98425,00.html?

    Published September 25, 2008

    Lehman's failure won't affect projects: CES

    The 2 condos are substantially sold; funds to complete projects secured

    By LYNETTE KHOO


    CHIP Eng Seng (CES) said its two joint-venture projects with a real estate equity fund managed by Lehman Brothers are unaffected by the collapse of the US investment bank.


    CityVista: The 70-unit project at Peck Hay Rd is already 54% sold at an average $2,550 psf, while The Parc Condo at West Coast Walk is 95% sold at an average price of $880 per square foot

    Its JV partner is Lehman Brothers Real Estate Partners II (LBREP II), a US$2.4 billion fund that was closed in 2005. Only a fraction of that sum - some US$400 million - came from Lehman Brothers and its employees.

    CES had formed a 50-50 JV with LBREP II's wholly owned special purpose vehicle WM Mauritius Holdings for two high-rise freehold condominium projects.

    But a reassuring fact is that the 695-unit The Parc Condominium at West Coast Walk is already 95 per cent sold at an average price of $880 per square foot (psf). The 70-unit CityVista at Peck Hay Road is 54 per cent sold at an average $2,550 psf.

    All instalments of purchase money and construction loans have since been deposited into the Project Account of the building projects as stipulated by the Housing Developers Act.

    'With financing being secured with the bank, funds needed to finish the whole project was already secured. Not to mention that the projects were launched successfully and the deposits we collected are more than enough to fund the two projects till completion,' CES chief executive Raymond Chia told BT.

    The two projects are expected to be completed by the second half of 2010.

    CES teamed up with Lehman to bid for four projects in total. Two tenders did not succeed.

    Asked if Lehman's collapse will cause CES to search for a new JV partner for future projects, Mr Chia said CES is not short of choice, having landed on the radar screen of equity funds since its partnership with the Lehman fund in 2006. CES has since received enquiries from large funds on opportunities to work together on projects in Singapore and Vietnam, Mr Chia said.

    But he noted that CES can take on larger projects on its own now and, hence, has more options besides JVs. There also is the support of its 25 per cent shareholder Citadel Equity Fund, part of the Chicago-based Citadel Investment Group. Both are working together on a freehold condo project Grange Infinite, which is 100 per cent sold.

    While Lehman's failure may hurt US commercial property, its impact here is likely to be cushioned.

    Lehman Brothers is believed to own a 45,000 square feet building at Clemenceau Avenue worth about $80 million. Its managed fund teamed up with Australia's Lend Lease in a 75:25 JV to buy Paradiz Centre in Selegie Road for $138 million in 2006.

    Paradiz Centre is being redeveloped and slated for completion by the end of this year. But it is understood that Lehman's collapse will not affect the fund that owns this project and Lend Lease has pre-emptive rights to buy out Lehman's stake in the venture.

    Lehman Brothers also occupies minimal amount of office space here. It currently takes up about 40,000 square feet of office space in Suntec City Office Tower Five, a mere 3.1 per cent of the total Suntec City office space of 1.29 million square feet, according to DMG & Partners Securities.

    Its other assets have been divested. The office building at 71 Robinson Road which Lehman jointly owned with Kajima Overseas Asia in April was sold to a German fund for $743.8 million, higher than some $613.4 million they spent on the land and redevelopment. Lehman sold Novotel Clarke Quay last year to CDL Hospitality Real Estate Investment Trust at $219.8 million, double the amount it spent on it.

  8. #8
    recession.
    Guest

    Default

    Told everyone already, we are going into a recession.

  9. #9
    Unregistered123
    Guest

    Default

    We all know.
    But if we have the buying and holding power -why do you care?
    Perhaps - by trying to spread fear in every thread and pushing the prices down? Thats what we are seeing you as.

    Quote Originally Posted by recession.
    Told everyone already, we are going into a recession.

  10. #10
    recession
    Guest

    Default

    Look at Todays stock price then talk lah, you stupid idiot. Rich man all peeing on their pants. Better sell what you have still thinking of buying or holding your property?

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