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Thread: 85% of units in CDL's Cube 8 sold

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    Default 85% of units in CDL's Cube 8 sold

    http://www.businesstimes.com.sg/sub/...76740,00.html?

    Published January 23, 2010

    Almost all 120 released Cube 8 units sold

    CDL intends to release additional units in the 177-unit freehold condo over the weekend

    By KALPANA RASHIWALA


    CITY Developments Ltd (CDL) has sold almost all of the 120 units it had released as of yesterday evening at its Cube 8 condo at Thomson Road during a two-day preview. Most of the units were sold yesterday .

    CDL released an initial 80 units at an average price of $1,250 psf but due to strong demand, offered a further 40 units. Prices of the latter batch are understood to have been increased slightly, probably in the order of 2-3 per cent.

    The company said yesterday evening that it intends to release additional units in the 177-unit freehold condo over the weekend. 'The strong sales-to-date for Cube 8 reflects the positive sentiment in the property market and attests to our ability to market the appropriate products at the right time,' said CDL's group general manager Chia Ngiang Hong

    One- and two-bedrooms were the first to be snapped; for three bedders, higher floor units were in greater demand, BT understands. The 36-storey condo is being built on the site of the former The Albany and Thomson Mansions in District 11. The 39 one-bedders have been sold out and a substantial number of the 58 two-bedroom apartments have also found takers.

    The one bedders, with an area of 560 sq ft, were priced from $740,000 upwards, BT understands. Prices of two-bedders start from $1.1 million while three-bedroom apartments, ranging from 1,335-1,475 sq ft, cost anywhere from nearly $1.6-1.8 million. Four bedders are priced at about $2.5 million each, while sky villas or penthouses cost at least $3.5 million apiece.

    BT understands that Singaporeans had bought the majority of units as of yesterday. Foreigners (including permanent residents) picked up about 20-25 per cent. Indonesians, Indians and Koreans were among those said to have bought.

    CDL opened the showflat to former owners of The Albany and Thomson Mansions on Thursday. After they had made their selections, directors and staff were invited. The 'public preview' began yesterday.

    CB Richard Ellis and Huttons are the marketing agents for Cube 8.

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    http://www.straitstimes.com/Money/St...ry_481048.html

    Jan 23, 2010

    Home buyers turn up in droves for Cube 8 apartments

    By Jonathan Kwok


    The 36-storey Cube 8 in Thomson Road comprises 177 apartments that include four sky villas worth $3.6 million to $3.8 million each. -- PHOTO: CITY DEVELOPMENTS

    UNITS at City Developments' Cube 8 in Thomson Road have been selling like hot cakes since the developer opened its doors for previews on Thursday.

    The Straits Times understands that all 80 units released in Phase One have been snapped up. A further 40 released in Phase Two have mostly been sold as well.

    The average price of the units sold is $1,250 per sq ft, valuing the three-bedroom units at $1.6 million to $1.8 million, while the four-bedders cost around $2.5 million. The penthouses or sky villas will set buyers back by $3.6 million to $3.8 million.

    City Developments will be releasing more units this weekend.

    'The actual units sold would have crossed 100 already,' said Mr Joseph Tan, executive director for residential at CB Richard Ellis, the project's marketing agent.'From the look of things, maybe around 20 per cent of the buyers are foreigners, with the rest locals. We also see an equal 50-50 mix of owner-occupiers and investors.

    'All the one-bedroom apartments have been sold, as have most of the two-bedders.'

    The freehold project in Thomson Road is on the site of the former The Albany and Thomson Mansion and next to City Developments' The Arte at Thomson, which was launched for sale in March last year.

    While the two projects are adjacent, The Arte is in District 12 while Cube 8 is in District 11.

    City Developments opened the doors to Cube 8 on Thursday to former owners of The Albany and Thomson Mansion. Staff and directors were also invited to the private preview.

    The public preview started yesterday.

    The 36-storey Cube 8 has 177 apartments, comprising 39 one-bedroom units, 58 two-bedders, 67 three-bedders, nine four-bedroom apartments and four sky villas.

    Sizes range from about 560 sq ft for a one-bedder to 893 sq ft to 926 sq ft for two-bedroom units. and 1,335 sq ft to 1,475 sq ft for three-bedders. The four-bedroom apartments will be around 1,905 sq ft, while the sky villas will be 3,025 sq ft to 3,229 sq ft.

    Ms Tay Huey Ying, director of research and consultancy at Colliers International, said: 'The strong demand for Cube 8 does not come as a surprise.

    'The market has been rather quiet over the last few months in terms of launch activity. Now that people have come back from their holidays, they are ready to look into serious commitments such as home purchases again.

    'With the economy looking up, job prospects looking up, and wages going up... all these contribute to the positive sentiment.'

    Ms Tay added that if the economic recovery remains on track and there are no external events or new government cooling measures, buying should stay healthy this year, although new sales volume is unlikely to repeat last year's bumper figure.

    She expects 7,000 to 9,000 new sales this year, as opposed to the 14,688 new units sold last year.

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    http://www.channelnewsasia.com/stori...032938/1/.html

    85% of units in CDL's Cube 8 sold

    By Ephraim Seow, Channel NewsAsia | Posted: 25 January 2010 2125 hrs


    SINGAPORE: City Developments (CDL) said it has sold 85 per cent of the units in its Cube 8 development, located at the former Albany and Thomson Mansion site along Thomson Road.

    Private previews for the former sites' owners, directors and staff of CDL started last Thursday and the public preview began on Friday.

    Over the weekend, all the one- and two-bedroom apartments have been sold.

    Singaporeans made up the majority of buyers. Permanent residents and foreigners mainly from the region, India and Europe bought 25 per cent of the units.

    The 36-storey freehold development comprises 177 units of one- to four-bedroom apartments and sky villas, ranging from 560 square feet to 3,229 square feet in size.

    The launch was at an average price of S$1,250 per square foot, with a marginal increase of two to three per cent for subsequent release. - CNA/vm

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