Page 3 of 21 FirstFirst 12345678910111213 ... LastLast
Results 21 to 30 of 209

Thread: One Shenton (D1, 99 year leasehold, CDL)

  1. #21

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    So now, customer end up paying commission to the marketing agent in order to buy an unit from the developer.

    Quote Originally Posted by Sailing
    That would be very bad...

  2. #22
    Sailing Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Quote Originally Posted by surfers
    So now, customer end up paying commission to the marketing agent in order to buy an unit from the developer.
    Yup, customer must prepare 2 cheques, one for developer, the other for agent.

  3. #23
    Unregistered Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Quote Originally Posted by Sailing
    Yup, customer must prepare 2 cheques, one for developer, the other for agent.
    sure or not!!!!

    r u all just talking c**k? You mean CDL so confident?

  4. #24
    this is real Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    One Shenton already more than 70% sold. Average price is $1,650 psf, which is lower than what market watchers had speculated 2 weeks ago.

  5. #25

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Guess Marina Bay looks to cool of for a while.

    Quote Originally Posted by this is real
    One Shenton already more than 70% sold. Average price is $1,650 psf, which is lower than what market watchers had speculated 2 weeks ago.

  6. #26
    Join Date
    May 2006
    Posts
    8,129

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Top Print Edition Stories
    Published January 5, 2007

    CityDev's One Shenton set to go for up to $2,500 psf

    Agents ask buyers for blank cheques to get choice units

    By UMA SHANKARI


    (SINGAPORE) Apartments in City Developments' newest condominium, One Shenton, are likely to go for between $1,500-$2,500 per square foot (psf) during its expected soft launch today, according to agents marketing the project.

    Agents from Knight Frank and ERA are also asking interested parties for blank cheques and authorisation letters to help buyers secure choice units in the much-anticipated 99-year leasehold development on Shenton Way, in the heart of the financial district.

    The cheques are to be made out to a United Overseas Bank account, which the agents say is under CityDev's name.

    Apartment prices in the 341-unit development are expected to be in the $1,500-$2,500 psf range, at least for starters. Prices could go up as the days pass as with the nearby Marina Bay Residences (MBR), where prices were raised each subsequent day during the soft launch, one agent says.

    While it is widely expected that CityDev will start selling the project today, some agents believe that the soft launch could start tomorrow instead, with today reserved for investors looking to pick up whole floors.

    It is also not clear if CityDev will be releasing all units in the project over this coming weekend, although it might do so if buyer interest is strong, an agent from ERA says.

    For now, agents are collecting cheques and authorisation letters so that they can stand in line - with some promising to do so overnight if need be - in lieu of potential buyers. Once apartments are offered to them, the agents will then call their clients, who can then make a decision on whether to go ahead with the purchase, allowing the agents to seal the deal on the spot.

    One Shenton consists of two towers - one 50-storey and the other 42. There will be a mix of studio, and two, three and four-bedroom apartments, as well as 'sky suites' and 'sky villas'. Sizes range from 520 to 9,600 square feet. The car park is on the first seven storeys; residential units begin from the eight floor.

    CityDev is expected to benefit from high prices seen in the recent launch of MBR, where a unit fetched a record $3,400 psf. However, units at One Shenton are expected to be priced below those at MBR, agents say.

  7. #27
    polkski Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Just now during lunch I was a long queue of people outside Shenton House. I guess those are the millionaires queueing for One Shenton.

  8. #28
    polkski Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Just heard from my colleague that prices for the upper floor big units are already hitting $2,500 psf now... it is scary!

  9. #29
    Join Date
    May 2006
    Posts
    8,129

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Top Print Edition Stories
    Published January 6, 2007

    Leng Beng stays bullish as One Shenton snapped up
    Entire floors of the two towers bought for $1,500 to over $2,000 psf


    By ARTHUR SIM


    (SINGAPORE) City Developments Ltd (CDL) executive chairman Kwek Leng Beng remains bullish about the high-end property market and expects prices to rise 10-20 per cent this year.



    Big draw: Guests waiting for the lift after arriving to see the One Shenton showflat on Shenton Way yesterday and (next) a model of One Shenton, which will have a 50-storey tower and a 43-storey tower joined by a podium block with 11 retail units



    Mr Kwek was speaking at the soft launch of CDL's latest residential development - One Shenton - where at least 70 per cent of the 341 apartments were snapped up at a preview last night, mainly by investors who purchased entire floors, sources said.

    Units were sold for '$1,500 to over $2,000 psf'. The rest will no doubt move fast as long queues were seen outside the development's showflat even late into the night.

    Mr Kwek also said that he does not believe the projected slowdown in the economy this year will clip property prices.

    Believing market sentiment will 'filter through' to all segments, Mr Kwek also said that he expects mass-market prices to increase 6-10 per cent in 2007.

    It is this confidence that perhaps prompted him to turn down offers from institutional investors to buy One Shenton en bloc.

    Two institutional investors whom he described only as 'Western' approached CDL, with the highest offer close to $1,700 per square foot, he said. This would have made the sale price in excess of $714 million, based on the development's 420,000 sq ft of sellable floor area.

    Instead, Mr Kwek said that he would rather sell the two-tower development to individuals for between '$1,500 to over $2,000 psf' because 'they have been queuing up and knocking on our doors . . it wouldn't be nice'.

    He revealed that up to 30 per cent of CDL's customers are repeat buyers and it would also be a matter of 'goodwill'. CDL also expects between 60 and 70 per cent of the buyers to be Singaporean.

    The 99-year leasehold development will have 142 one-bedroom units, with or without study. There will be 113 two-bedroom units, 54 three-bedroom units, 21 four-bedroom units and 11 Sky Suites and Sky Villas.

    The development will consist of a 50-storey tower and a 43-storey tower joined by a podium block with 11 retail units. CDL has no plans to sell the retail units.

    One Shenton is being launched in a price slightly lower than that of Marina Bay Residences, which were launched last month at $1,550-$2,150 psf, with the highest priced unit going for a record $3,400 psf.

    One Shenton cannot command the same views as Marina Bay Residences so records may not be broken this time. Still, Mr Kwek revealed that he has ambitious plans to buy the whole urban block that One Shenton sits on, which includes Shenton House and UIC Building.

    He is interested in the Government Land Sales white site to be launched in the first half of this year next to One Shenton.

  10. #30
    Makelele Guest

    Default 70% of One Shenton units snapped up on first day

    Jan 6, 2007

    70% of One Shenton units snapped up on first day

    At least 14 whole floors of leasehold condo sold; Western funds offer to buy entire blocks

    By Fiona Chan

    HOME-BUYERS snapped up almost three-quarters of the units at eagerly anticipated One Shenton, the latest condominium in the red-hot Marina Bay area, at its soft launch yesterday.

    About 70 per cent of the 341-unit project was sold by 10pm, with hundreds of buyers still queueing up despite the rain last night, sources said.

    With sales still going strong, the sales office was expected to stay open through the night, they added.

    One source said that at least 14 whole floors of the condo, located on the fringes of the financial district, had been bought by 6pm.

    Developer City Developments (CDL) had originally planned to release only 100 units yesterday, priced between $1,500 and $2,000 per sq ft (psf), but the overwhelming interest prompted it to put more units on sale.

    The 99-year leasehold condo's 11 penthouses, however, are being held back from public sale for now and might be sold via a tender process, depending on demand.

    CDL said they will be priced higher than the other units on a psf basis, but declined to give indicative prices.

    A 200-strong crowd of interested buyers gathered yesterday afternoon on the ground floor of 1 Shenton Way, formerly Robina House, waiting their turn to be taken up to the show-flat and sales office on the 22nd floor.

    CDL's VIP customers and those purchasing whole floors were entertained first, so other buyers of individual units prepared to camp out in the queue overnight.

    Many came armed with bags of groceries, bottles of water and even portable deck chairs. The crowd did not disperse even when it started to rain, leading CDL to set up marquees outside the building for shelter.

    But the strong demand for One Shenton had started long before yesterday. CDL chairman Kwek Leng Beng said he had already received offers from two 'Western funds' to buy entire blocks in the two-tower project, One tower is 50 storeys high and the other has 42 floors.

    One fund asked for a single tower while the other requested both blocks, Mr Kwek told reporters at a media preview of One Shenton yesterday.

    The funds offered an average of $1,692 psf for the units, but he turned them down. The transaction would have taken too long to process, and he preferred to sell the units to Singaporeans individually, he said.

    Property consultants attributed the demand for One Shenton yesterday to CDL pricing the project at the lower end of expectations.

    Market watchers had predicted prices of up to $2,500 psf, after the blistering success of nearby Marina Bay Residences, where all 422 units were sold out in two days last month.

    Prices averaged almost $2,000 psf there as buyers fed on the frenzy of the upcoming integrated resort in the area. They even skyrocketed to record highs of $3,400 psf for the penthouses, which were also sold via tender.

    'It's possible that the competitive early-bird pricing for One Shenton helped to move units quite quickly,' said Ms Tay Huey Ying, director of research and consultancy at Colliers International.

    'Purchasers would compare its prices with the high prices eventually achieved for Marina Bay Residences, so they might think that, comparatively, One Shenton is value for money.'

    The demand for One Shenton, the first condo launch of the year, comes despite the Government's withdrawal of deferred stamp duty last month.

    Home-buyers now have to fork out 3 per cent of the property's purchase price within 14 days, on top of the down payment. Previously they could defer stamp duty on uncompleted projects for up to a few years.

    But the changes in stamp duty rules are unlikely to have 'an adverse impact on buyer activity in the high-end segment', which includes One Shenton, said Ms Tay.

    This is because buyers of luxury homes tend to be more cash-rich and can afford to pay stamp duty upfront. However, some potential speculators might be deterred, she added.

    [email protected]

Posting Permissions