Results 1 to 2 of 2

Thread: Preview of two condo projects planned for next week

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Preview of two condo projects planned for next week

    http://www.businesstimes.com.sg/sub/...43095,00.html?

    Published July 24, 2009

    Preview of two condo projects planned for next week

    One is next to Ang Mo Kio Hub and the other beside Tanah Merah MRT Station


    TWO 99-year-leasehold condominium projects next to MRT stations are slated to be previewed next week - Far East Organization's Centro Residences next to Ang Mo Kio Hub and TID's [email protected] Merah.


    Price expectations: Market watchers suggest Optima (above) could be priced at about $750-$800 psf on average, while prices at Centro Residences are tipped to start from $1,150 psf

    Prices at the 34-storey Centro Residences are tipped to start from $1,150 per square foot (psf). Far East bought the site at a state tender in September 2007 for $601 psf per plot ratio. That was a record price for suburban condo land.

    Analysts reckon Far East's breakeven cost for the project could be close to $1,000 psf.

    They suggest that Far East is releasing the project, which is along Ang Mo Kio Avenue 8, to ride on the current home buying momentum but it may release only about 100 or so units initially and sell the rest as construction proceeds to extract higher prices progressively. The condo has a total of 329 units.

    Far East is starting its preview on Wednesday evening and will release two and three-bedroom units.

    A typical two-bedder of about 800 square feet could cost about $900,000, while a typical three-bedroom apartment of 950 sq ft may be priced on average at about $1.15 million.

    As for Optima, beside the Tanah Merah MRT Station, market watchers suggest it could be priced at about $750-$800 psf on average.

    They based this estimate on current average pricing for Waterfront Key in Bedok ($735 psf) and Dakota Residences ($900 psf) and adjusted for locational differences.

    The 297-unit Optima will be a 14-storey project comprising one-bedroom studio apartments as well as two, three and four-bedroom apartments plus 18 penthouses.

    Developer TID is a joint venture between Mitsui Fudosan of Japan and Hong Leong Group Singapore.

    Another Hong Leong unit, Tripartite Developers, previewed The Gale along Upper Changi Road two weeks ago. The 329-unit freehold project, priced at $650 to $725 psf, is over 80 per cent sold.

    With the release of Centro and Optima, the pipeline of suburban condos on 99-year-leasehold sites bought at state tenders will shrink further.

    This will increase impetus on developers to trigger the release of sites on the government's reserve list, analysts say.

    Already, the government has announced the release of two sites from this list this week - at Chestnut Avenue and Dakota Crescent.

  2. #2
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default

    http://www.channelnewsasia.com/stori...444321/1/.html

    [email protected] Merah to be launched by end-July

    Posted: 23 July 2009 1959 hrs


    SINGAPORE : Property developer TID will hold a preview of its newest condominium project - [email protected] Merah - before the end of this month.

    Located next to the Tanah Merah MRT Interchange along New Upper Changi Road, commuters will be able to get to the city centre by train in less than 20 minutes and to Changi International Airport in about 6 minutes.

    The 99-year leasehold development has 297 units that feature one-bedroom studio apartments, 2- to 4-bedroom units plus 18 penthouses which come with open balconies and terraces.

    TID is a joint venture between Japan's largest listed developer, Mitsui Fudosan, and Hong Leong Group Singapore.

    Its portfolio includes projects such as the St Regis Hotel and Residences, Parc Emily, Oceanfront on Sentosa, as well as The Gale, which was launched recently.

    Hong Leong said interest in Optima is already building up, with over 1,000 enquiries received over the past two months.

    The project is expected to receive its Temporary Occupation Permit (TOP) by 2014.

    - CNA/al

Similar Threads

  1. Two new private condos worth as low as $600K+ each preview this week
    By SBR in forum Singapore Private Condominium Property Discussion and News
    Replies: 5
    -: 28-07-11, 08:25
  2. Suites at Braddell begins preview today, two more due this week
    By SBR in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 20-06-11, 12:02
  3. Interweave, Viento, and Terasse preview this week
    By SBR in forum Singapore Private Condominium Property Discussion and News
    Replies: 9
    -: 17-05-11, 18:35
  4. UOL, CDL to release condos for preview this week
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 07-07-10, 18:03
  5. Tiong Aik, CDL gearing up condo projects for preview
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 13-04-10, 23:20

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •