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Thread: Potong Pasir condo's preview opens

  1. #1
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    Default Potong Pasir condo's preview opens

    http://www.straitstimes.com/business...-preview-opens

    Potong Pasir condo's preview opens

    Nov 20, 2015

    Joyce Lim


    MCC Land's The Poiz Residences, right next to Potong Pasir MRT station, got some unwelcome publicity in the weeks ahead of today's opening of its preview.

    More than 1,000 people protested against its original name, "The Andrew Residences", but MCC Land took the criticism on board and renamed the property.

    A petition had been launched by Saint Andrew's alumni accusing the developer of using the "hard-earned goodwill associated with the St Andrew's name for a self-serving commercial intent".

    Sales at the 731-unit condominium are slated to begin on Nov 28.

    MCC Land is defying predictions by some experts of a further slowing property market by releasing about half the total number of units in its first launch.

    Located in Meyappa Chettiar Road, The Poiz Residences forms part of a mixed-use development which also includes The Poiz Centre, a retail-cum-lifestyle mall.

    More than half of its units, which could see an average price of $1,380 per sq ft, are one- and two-bedders, starting from 420 sq ft. There are 202 three-bedders, 52-four bedders and four penthouses.

    Both the condominium and mall are expected to be completed in 2019.

    MCC Land managing director Tan Zhiyong said: "In spite of Potong Pasir's rapid development over the years, it seems to lack an iconic central destination - that combines major transport infrastructure with retail and recreational amenities - as found in most other residential estates.

    The commercial project is intended to be the definitive landmark of Potong Pasir, added Mr Tan.

  2. #2
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    Default Brisk sales at launch of Potong Pasir condo

    http://www.straitstimes.com/business...ng-pasir-condo

    Brisk sales at launch of Potong Pasir condo

    Nov 30, 2015


    MCC Land's The Poiz Residences, next to Potong Pasir MRT station, has notched up brisk sales on its first weekend.

    In all, 260 units were sold, out of 350 units released for sale in the first phase, the developer said yesterday. The condominium will have 731 units in all.

    The units sold were evenly distributed among all unit types.

    About one-third of sales were one-bedroom, 36 per cent were two-bedders and 31 per cent were three-and four-bedroom units, MCC Land said.

    Nearly all the buyers - 98 per cent - were Singaporeans.

    "The sales at our launch weekend were encouraging and we attribute its success to our strategic differentiation of the units into Urban, Habitat and Suites which are each targeted at different market segments," said Mr Tan Zhiyong, Managing Director of MCC Land.

    "The Poiz Residences' seamless integration with the Potong Pasir MRT Station is also a big draw for most buyers."

    The project, in Meyappa Chettiar Road, forms part of a mixed-use development which also includes The Poiz Centre, a retail-cum-lifestyle mall.

    Both the Poiz Residences and mall are set to be ready in 2019.

    The project faced some controversy when more than 1,000 people protested against its original name, The Andrew Residences, but MCC Land paid heed to the criticism and renamed it.

    A petition had been launched by Saint Andrew's School alumni accusing the developer of using the "hard-earned goodwill associated with the St Andrew's name for a self-serving commercial intent".

  3. #3
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    Default Nearly 75% of Poiz Residences units in Potong Pasir snapped up

    http://www.businesstimes.com.sg/real...sir-snapped-up

    Nearly 75% of Poiz Residences units in Potong Pasir snapped up

    By Soon Weilun

    [email protected]

    @SoonWeilunBT

    Nov 30, 2015


    THERE was strong interest for a new private condominium project in Potong Pasir as buyers snapped up close to three-quarters of its first units released for sale over the weekend.

    The Poiz Residences on Meyappa Chettiar Road, developed by MCC Land, sold 260 units out of 350 released for sale since Saturday, which is also 35.57 per cent of the total number of 731 units in the project. Prices are set at an average S$1,380 per square foot.

    The units sold were evenly distributed among all unit types, with one-bedroom units forming 33 per cent, two-bedroom units at 36 per cent, and three- and four-bedroom units were at 31 per cent. Singaporeans formed 98 per cent of buyers.

    Some 65 per cent of the residential units are one and two-bedroom units ranging in area from 420 sq ft to 1,259 sq ft.

    The project forms part of a mixed-use development that includes retail component The Poiz Centre, which will be connected to the adjacent Potong Pasir MRT station.

    It has three distinct zones - hotel-like "Suites" suitable for renting out, "Urban" units for price-sensitive young professionals and "Habitat" units for families looking for bigger spaces.

    "The sales at our launch weekend were encouraging and we attribute its success to our strategic differentiation of the units into Urban, Habitat and Suites which are each targeted at different market segments," said Tan Zhiyong, managing director of MCC Land.

    The Poiz Centre will span a gross floor area (GFA) of 50,000 sq ft and house 84 shops. About 10 per cent of the space is allocated to food and beverages. While MCC Land plans to lease out the retail units, it does not rule out selling some of these strata units if there is strong demand.

    MCC Land's development pipeline includes a private condominium site on Tampines Avenue 10, which is expected to be launched in the third quarter of next year.

    It is also undertaking project management for the private condominium project of HY Realty on Dundee Road, which is likely to be launched in the third quarter of next year.

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