The Interlace (D3, 99 years Leasehold, CapitaLand)

[bargain hunter]

it is not a penthouse on its own but capitaland has their own weird way of classification for interlace. there are 4 super levels and the 4th super level (where this unit is located) is called the penthouse super level. A "normal 4 bedder" in this super level is 3000+sq ft as august pointed out. how normal can that be?

i came across Junior PH & Super PH. This #23 i don't find it looking like a PH, looks like a normal 4bedder to me.

[Komo]

Interlace has a lot of landed features, yet avoid the cons of landed properties. I would say good buy if u don't mind some awkward design. One thing I don't like is some room balcony may not have a roof. My advice is intended buyer really drill down to all details before committing.

[august]

Property boom going bust?
June 16, 2010 Wednesday, 12:20 PM

Goh Eng Yeow on the cooling of the red-hot new home sales market

(bla bla bla deleted)

There is another observation which I want to make here.

Another colleague, Lee Sushyan, highlighted on Monday that CapitaLand group president and chief executive Liew Mun Leong paid $3.74 million for a penthouse at The Interlace, a former HUDC site at the junction of Depot Road and Alexandra Road, now being redeveloped by the property giant.
His son Karl and daughter-in-law Heather Lim Mei Ern bought a 2,476 sq ft, four-bedroom apartment on the 16th level for around $2.47 million or $996 psf

Sushyan quoted Ngee Ann Polytechnic lecturer Nicholas Mak as saying that when the property market is hot, directors and their immediate family members usually get onto the VVIP list and are able to pick the choice units. But he also hedged his bets by saying that in a slow property, some directors might buy units, sometimes at a bullish price, to give confidence to buyers and investors.

I am wondering which scenario applies in this case.

But just to stir up some memories, I retrieve an old article from an ex-colleague, Colin Tan, reporting in December 2001 that CapitaLand gave some early-bird buyers a "goodwill" rebate of 5 per cent on the purchase price to compensate for the falling prices of the condos they had bought earlier.

The lucky buyers, who got the rebate, included 24 people who bought apartments at The Levelz at Farrer Road. "The statement said that among The Levelz buyers who will get a rebate are: CapitaLand president and chief executive Liew Mun Leong’s daughter, Ms Liew Cheng May…and director Lim Chin Beng’s son, Mr Arthur Lim," he wrote.

[bargain hunter]

how come they are entitled to so many good kangtao one...sure win one...

Property boom going bust?
June 16, 2010 Wednesday, 12:20 PM

Goh Eng Yeow on the cooling of the red-hot new home sales market

(bla bla bla deleted)

There is another observation which I want to make here.

Another colleague, Lee Sushyan, highlighted on Monday that CapitaLand group president and chief executive Liew Mun Leong paid $3.74 million for a penthouse at The Interlace, a former HUDC site at the junction of Depot Road and Alexandra Road, now being redeveloped by the property giant.
His son Karl and daughter-in-law Heather Lim Mei Ern bought a 2,476 sq ft, four-bedroom apartment on the 16th level for around $2.47 million or $996 psf

Sushyan quoted Ngee Ann Polytechnic lecturer Nicholas Mak as saying that when the property market is hot, directors and their immediate family members usually get onto the VVIP list and are able to pick the choice units. But he also hedged his bets by saying that in a slow property, some directors might buy units, sometimes at a bullish price, to give confidence to buyers and investors.

I am wondering which scenario applies in this case.

But just to stir up some memories, I retrieve an old article from an ex-colleague, Colin Tan, reporting in December 2001 that CapitaLand gave some early-bird buyers a "goodwill" rebate of 5 per cent on the purchase price to compensate for the falling prices of the condos they had bought earlier.

The lucky buyers, who got the rebate, included 24 people who bought apartments at The Levelz at Farrer Road. "The statement said that among The Levelz buyers who will get a rebate are: CapitaLand president and chief executive Liew Mun Leong’s daughter, Ms Liew Cheng May…and director Lim Chin Beng’s son, Mr Arthur Lim," he wrote.

[Komo]

Isn't there any rules to restrict related people from buying?

[stalingrad]

how come they are entitled to so many good kangtao one...sure win one...

by the way, isn't this something the SGX should look into? father is the CEO, and the daughter is a buyer. isn't this a related party transaction and should be frowned upon?

but being in Asia for a long time, I have realized that nothing is black and white in asia. so, I better shut my trap, er, mouth.

[bargain hunter]

related party transactions are allowed. they just have to declare it.

i remain most baffled by the Wee family's transactions at Duchess Residences in 2007 where they were said to be given a 2% discount. but their 1600psf ave vs 3 days later public launch at 1800 to 2000psf sure sounds more like a 10 to 20% discount. comparatively, these transactions at Capitaland are quite mild.

by the way, isn't this something the SGX should look into? father is the CEO, and the daughter is a buyer. isn't this a related party transaction and should be frowned upon?

but being in Asia for a long time, I have realized that nothing is black and white in asia. so, I better shut my trap, er, mouth.

[stalingrad]

related party transactions are allowed. they just have to declare it.

i remain most baffled by the Wee family's transactions at Duchess Residences in 2007 where they were said to be given a 2% discount. but their 1600psf ave vs 3 days later public launch at 1800 to 2000psf sure sounds more like a 10 to 20% discount. comparatively, these transactions at Capitaland are quite mild.

In singapore, this kind of self dealing is so common and prevalent, I am used to it. You just have to close one eye, and take a deep breath, and say "who say life is fair?"

[bargain hunter]

i don't really see the discounts being so steep for other listed developers or even other UOL projects. why? why? why?

In singapore, this kind of self dealing is so common and prevalent, I am used to it. You just have to close one eye, and take a deep breath, and say "who say life is fair?"

[jlrx]

These purchases highlight a very serious flaw in the argument made by many here and in other websites that "economic fundamentals" mean property prices should track the median income, which is only true if each person is entitled to purchase only one property.

UOB's net profit after tax in 2009 was $1.9 billion and Wee family own 17.39% of UOB hence their share of profits was $330 million per year.

That means they can afford to buy 220 condos of average value $1.5 million in one year, in cash.

What about OCBC's Lee family and other tycoons?

Even salaried-CEOs like Liew Mun Leong who averages $5 million per year can afford to buy 3 properties every year or around 100 properties in a life time.

There is no better place to put your money than in properties.

Those financial instruments or bonds whatever only appear as a statement, which you can print for yourself with a laser printer and put in whatever figures you like.

On the other hand, you can touch and feel a condo and you can walk into it and take photos like focus did for his new upcoming condo.

You can't print a condo out of your laser printer.

[bargain hunter]

which only makes the discounts that these pple get all the more digusting, in the eg of WCY and family and LML and family.

These purchases highlight a very serious flaw in the argument made by many here and in other websites that "economic fundamentals" mean property prices should track the median income, which is only true if each person is entitled to purchase only one property.

UOB's net profit after tax in 2009 was $1.9 billion and Wee family own 17.39% of UOB hence their share of profits was $330 million per year.

That means they can afford to buy 220 condos of average value $1.5 million in one year, in cash.

What about OCBC's Lee family and other tycoons?

Even salaried-CEOs like Liew Mun Leong who averages $5 million per year can afford to buy 3 properties every year or around 100 properties in a life time.

There is no better place to put your money than in properties.

Those financial instruments or bonds whatever only appear as a statement, which you can print for yourself with a laser printer and put in whatever figures you like.

On the other hand, you can touch and feel a condo and you can walk into it and take photos like focus did for his new upcoming condo.

You can't print a condo out of your laser printer.

[august]

which only makes the discounts that these pple get all the more digusting, in the eg of WCY and family and LML and family.

actually if read carefully, interlace no discount lah
levelz one is cos mkt went sour so subsequent pricing was lower, out of gdwill earlier buyers also offered the later discount.. one buyer happen to be LML's daughter lor.

[bargain hunter]

ok, only WCY family then hahaha.

actually if read carefully, interlace no discount lah
levelz one is cos mkt went sour so subsequent pricing was lower, out of gdwill earlier buyers also offered the later discount.. one buyer happen to be LML's daughter lor.

[stevenc]

Interlace got a new webpage with detailed decriptions of location, facilities, floor plans, etc... pretty cool

http://www.theinterlace.com.sg/

Also, URA is starting to develop the southern ridges further with a nature walk "Alexandra Garden Trail" between depot road (at the vicinity of where interlace is located) and the labrador park.

http://www.straitstimes.com/Breaking...ry_558335.html

[august]

nice ~~

[merlion]

nice ~~

very nice...

[eseko1]

construction progress

[hyenergix]

Large project but 99 LH and such a high psf, it should be quite hard sell right? Definitely need to have at least a car in e family to live here.

[NoodyGirl]

no MRT, just couple of bus service, no ammenties
think hard to rent out
buy to stay OK
but at say 900 psf dip can consider
now still too high

Large project but 99 LH and such a high psf, it should be quite hard sell right? Definitely need to have at least a car in e family to live here.

[devilplate]

no MRT, just couple of bus service, no ammenties
think hard to rent out
buy to stay OK
but at say 900 psf dip can consider
now still too high

b4 cooling measures oredi got 925psf....hehe

210 Depot Road #10-60
99 Yrs From 11/02/2009
$925
1755
$1623k
06 Aug 10

[cashrich]

b4 cooling measures oredi got 925psf....hehe

210 Depot Road #10-60
99 Yrs From 11/02/2009
$925
1755
$1623k
06 Aug 10

see???

They are the smarter ones...

most probably got wind of the news.

[OLY99]

any update for interlace? this project seem to die down?

[hyenergix]

Located just beside a very nice piece of natural reserve, if Interlace is as well-designed as the Tree House, then people will still flock to buy as it is still better located than the Tree House. The stacking puts most people off as at least half the stacks will face the East West Sun or have views blocked by the overhanging stacks above.

[Fleur]

I agree. The stacking is just simply horrible. Imagine living perpertually in darkness. This is over-creative architecture.

[med80009]

There seem (to me at least) to be another major setback for this project.

If this project was intended for the mass market (i'm not sure about this), i wonder what were the thoughts regarding the absence of a primary school within 1 km.

Nowadays, staying w/i 1 km plus parent volunteering may not secure a place in a slightly more popular primary school. Furthermore, this trend seem to be getting worse with increasing population density (check out the developments that had been popping up in district 15 near Tao Nan School).

[amk]

There seem (to me at least) to be another major setback for this project.

U just answered ur own question :

Nowadays, staying w/i 1 km plus parent volunteering may not secure a place in a slightly more popular primary school. Furthermore, this trend seem to be getting worse with increasing population density (check out the developments that had been popping up in district 15 near Tao Nan School).

Exactly. For popular schools, staying within 1km means nothing. just look at catholic high, nanyang primary.
Therfore 1km to a school is never meant to be the selling point for this project. And it's also not being advertised as such. Ppl interested in this development are mainly buying for the RCR location and unique landscape/architecture features

[cashrich]

There seem (to me at least) to be another major setback for this project.

If this project was intended for the mass market (i'm not sure about this), i wonder what were the thoughts regarding the absence of a primary school within 1 km.

Nowadays, staying w/i 1 km plus parent volunteering may not secure a place in a slightly more popular primary school. Furthermore, this trend seem to be getting worse with increasing population density (check out the developments that had been popping up in district 15 near Tao Nan School).

This is clearly not mass market.

Mass market, in heartland... lower priced.

Mass Market and Mass Rapit Transit are good friends.

The critical Mass! M ass or Mess

[merlion]

Weell said!! The Interlace is definitely upper mid end, not mass mkt...

[waitandsee]

any updates?

[Komo]

Weell said!! The Interlace is definitely upper mid end, not mass mkt...

Then they better come up quick with "high class" service & facilities eg dedicated parking lots of at least 3 lots, valet parking, receptionist, call for cab service, chaffeur service, chef service,