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Thread: Lippo sells 85% of Trillium; half of buyers are Indons

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    Default Lippo sells 85% of Trillium; half of buyers are Indons

    Published March 26, 2007

    Lippo sells 85% of Trillium; half of buyers are Indonesians

    By KALPANA RASHIWALA


    LIPPO has sold 85 per cent of its 231-unit condo The Trillium, opposite Great World City, during a private preview, achieving an average price in excess of $1,700 psf and has decided to stop sales for now until an official launch this coming Saturday.



    The Trillium: The average price achieved is in excess of $1,700 psf, with prices ranging from $1,600 to $2,000 psf


    Lippo Land executive director Thio Gim Hock told BT yesterday that 'if we wanted to, we could have finished selling all the units during the private preview which was by invitation. But we're deliberately keeping some units so the public can come into our showflat on Saturday, see our products and decide to buy if they wish'.

    'I've specially chosen a cross section of units across the development - high, mid and low floors - and reserved them for the public launch. These are not remnant units after the private preview,' Mr Thio stressed.

    However, Lippo, which has so far not offered the freehold condo's six penthouses for sale, will not release them at the public launch either.

    About half of the 196 units sold in the development since Lippo started issuing options last Thursday have been picked up by Indonesians.

    The rest were bought by Singaporeans and a sprinkling of other nationalities, including Taiwanese, Austrians, Britons, Malaysians, Hongkongers and Koreans, Mr Thio said.

    The range of prices achieved for the units sold, which are up to the 27th floor (the top two levels of the 29-level project is for penthouses), is about $1,600 to $2,000 psf.

    'Although our development has 29 levels, in actual fact it will rise to about 33 levels, because we have a high lobby and a mid-floor sky garden,' Mr Thio said.

    Knight Frank and ERA are marketing the project.

    Lippo has an 80 per cent stake in The Trillium, which is being developed on a site that the group bought from OCBC early last year for about $739 psf of potential gross floor area.

    Assuming the project's breakeven cost is about $1,100 psf, the total pretax profit from the development could be about $250 million, BT understands.

    The Trillium is one of three condos Lippo has slated for launch this year. The other two are a project with about 180 units at Sentosa Cove next to the One Degree 15 Marina, and a 100-110 unit condo on the Kim Seng Plaza site next to The Trillium.
    Last edited by mr funny; 26-03-07 at 12:53.

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