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daveyong
18-07-08, 16:16
Upcoming launches...(Former NAGA COURT) at prime district 10 along Bukit Timah Road.

- 18 storey freehold development
- Exclusive 56 units of 3-br, 4-br and penthouses
- Within 1 km radius to schools like ACS and SCGS
- Close to Orchard Road (5 mins) and CBD (10 mins)
- Proximity to future Stevens MRT station
- Good investment potential as location enjoys high demand from locals and expatriates

Serious buyers/investors kindly REGISTER now for good choice unit and get preview price. Call +65-96969033, email [email protected] or view www.sinproperty.com


DAVE YONG
ERA - Project Specialist

richardsng_era
20-08-08, 18:04
Description: Proposed 18-storey residential development

Location: 355 Bukit Timah Road (Between Balmoral Road & Robin Road)

Tenure: Freehold

Total Units: 56

Unit Types:
3 Bdrm
4 Bdrm

Expected Date of TOP: December 2011

Price: TBA

psf?
20-08-08, 20:59
may i knw wat is psf pricing? I have seen the location it is beside The Legend.
Description: Proposed 18-storey residential development

Location: 355 Bukit Timah Road (Between Balmoral Road & Robin Road)

Tenure: Freehold

Total Units: 56

Unit Types:
3 Bdrm
4 Bdrm

Expected Date of TOP: December 2011

Price: TBA

newproject
20-08-08, 22:15
Location/ Address
355 Bukit Timah Road ( Former Naga Court Site)

Between Balmoral Rd and Robin Road

Tenure of Land Freehold

Expected T.O.P Dec 2011

Description
Proposed 18 storey residential development comprising 56 units of 3 bedrooms and 4 bedrooms with communal facilities and basement carpark

No. of Units 56 units
Facilities 50 metre lap pool, Jaccuzzi, Fun pool, Gymnasium, Clubhouse, Playground, fitness station etc

Please email me at [email protected] to register

for preview

Rgds

blackjack21trader
21-08-08, 08:46
We all would appreciate if you can attach a picture or two. Thanks.

newproject
21-08-08, 09:55
Will post pictures once it is ready

Thanks

mr funny
28-08-08, 10:41
http://www.businesstimes.com.sg/sub/suite/story/0,4574,294318,00.html?

Published August 28, 2008

Developers weigh odds for launches after Ghost Month

Some may want to test market now rather than risk deterioration in sentiment

By KALPANA RASHIWALA


(SINGAPORE) Some developers have been quietly oiling their launch machinery in the past few weeks as they get ready for previews and launches, especially with the Hungry Ghosts Month ending this Saturday.

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-08-28/BT_IMAGES_KRNEW28.jpg
Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. The freehold project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft.

With the property outlook expected to worsen before it gets better, there may just be an incentive for some to launch their projects sooner - or wait it out till late-2009/2010, a seasoned property consultant told BT.

Another consultant, Knight Frank executive director Peter Ow, said: 'Whatever name you call it - preview, private invitation, etc, the aim is for developers to test the market. If the response is sufficient at the price they want, they'll begin sales. If the response isn't up to what they want, they won't sell. As a developer, you don't want to risk launching a project, selling a few units and getting stuck.'

Projects that have begun to be previewed this month include Far East Organization's 85-unit freehold Miro at the corner of Lincoln and Keng Lee roads (at an average $1,600 per square foot) and a 54-unit cluster housing project at Greenwood Avenue. Units in the 103-year leasehold development range from 3,000 to 3,700 sq ft.

Over at Nathan Road, Tat Aik Group has been inviting potential buyers to view Nathan Residences, a 91-unit freehold project priced at around $2,000 psf on average.

Keppel Land is also expected to release this weekend in Hong Kong and Singapore about 30-40 units under the next phase of Reflections at Keppel Bay.

The average price is expected to be similar to the earlier phase launched around April last year, at about $1,800 to $2,000 psf. Deferred payment is expected to continue to be offered.

Hong Fok Corporation's 360-unit Concourse Skyline apartments at Beach Road, KepLand's 56-unit freehold Madision Residence near the junction of Bukit Timah and Keng Chin roads, and City Developments Ltd's The Arte at Thomson are understood to be other projects that could hit the market soon.

In the high-end segment - where sentiment is weakest - Far East Organization, which has already sold two units at its 28-unit luxury development Boulevard Vue at Cuscaden Road, opened its showflat for the project recently and is expected to step up marketing activity.

The project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft. Prices for low- and mid-level units in the 33-storey freehold project range from $3,600 psf to $3,900 psf.

BT understands the price tag for the bigger penthouse will likely be around the $4,500 psf mark, working out to an absolute sum of about $50 million. If achieved, the absolute amount would set a new record for a penthouse in Singapore.

Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. BT understands that the unit layouts will be customised to buyers' preference.

A critical factor affecting developers' launch decisions is pricing, given the bearish sentiment.

'Pricing will be more realistic for fresh launches, but for projects released earlier, it would be difficult for established developers to trim prices without upsetting earlier buyers, especially VIPs,' the seasoned property consultant said.

Agreeing, Jones Lang LaSalle Singapore's residential head Jacqueline Wong said: 'Such developers may just hold the remaining units in the project if necessary and have another shot at selling them upon the project's completion. For new projects too, the financially stronger players can hold off developing for a while.

'However, developers who are fairly new or need the cashflow will have to be realistic in their pricing and will be more amenable to negotiating with buyers.'

Another industry observer said that instead of outright price cuts, it may be easier for developers to attract new buyers into existing projects by offering furnishing vouchers, guaranteed yields (for newly completed projects) or arranging for attractive mortgage packages.

A mid-sized developer said: 'We have to accept the fact that prices have to be marked to market; otherwise we can't sell enough units to generate the required cashflow. For sites bought within the past 12 months, developers would need to sell at least 50 per cent of the development to generate sufficient cashflow to finance the project's construction - taking into account high land price paid and rising construction costs, among other factors.'

mr funny
23-03-09, 12:19
http://www.businesstimes.com.sg/sub/companies/story/0,4574,324737-1237751940,00.html?

Published March 21, 2009

KepLand defers construction of Marina Bay Suites

Building of Madison Residences also delayed by current market conditions

By KALPANA RASHIWALA


KEPPEL Land is deferring construction of the highly touted Marina Bay Suites (in which it has one-third stake) as well as Madison Residences in Bukit Timah, citing 'current market conditions'. KepLand is developing the 221-unit Marina Bay Suites jointly with Cheung Kong Holdings/Hutchison Whampoa and Hongkong Land.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-03-21/BT_IMAGES_KRKEP21.jpg
DELAYED
Worsening sentiment in the high-end residential sector

In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.

The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement. 'We are unable to provide details due to confidentiality,' she added. When asked, she also revealed that 'a decision has been made to defer the commencement of the main construction of Marina Bay Suites'. However, construction of another of the group's residential projects in Singapore, The Promont, located in Cairnhill, will continue.

It has been one postponement after another for Marina Bay Suites because of deteriorating sentiment in the high-end residential sector. The tripartite partnership developing the condo had initially hoped to launch the project around end-January last year, but this was delayed to later the same quarter, and even then, that did not happen. The project has not been launched to date.

KepLand's spokeswoman did not say how long the construction deferments for Marina Bay Suites and Madison Residences will be.

In its release to SGX, KepLand said the construction deferment for Madison Residences is not expected to have any significant impact on the consolidated earnings per share and net tangible asset per share of the company for the current financial year ending Dec 31, 2009.

Separately, construction group KSH Holdings also said in a statutory filing with SGX yesterday that it has agreed to the request of Keppel Land Realty to defer the construction of Madison Residences. The delay is not expected to have any material effect on KSH for the financial year ending March 31, 2009. KSH announced in April last year that it had won a $53 million contract from Keppel Land Realty relating to the construction of Madison Residences.

In January, Keppel Land's group chief executive Kevin Wong said the group will conduct a review to see if it can delay building some of its projects. 'We are reviewing our operation costs as well as the project costs of all our development projects to trim fat and conserve cash, so that we can invest in any attractive opportunities that come along. 'This cost review exercise could include developing projects in phases to meet demand and even temporarily suspending the entire project if it does not add value to the company under current market conditions,' Mr Wong said then. Projects that are yet to be launched for sale are those that are most likely to be delayed both in Singapore and abroad, he added.

KepLand's earnings for the year ended Dec 31, 2008 fell 70.8 per cent to $227.7 million, from $779.7 million in FY 2007.

mr funny
23-03-09, 13:21
http://www.straitstimes.com/Money/Story/STIStory_352791.html

March 21, 2009 Saturday

KepLand to defer luxury project

Madison joins others in weakening market that have been put on hold

By Jessica Cheam

http://www.straitstimes.com/STI/STIMEDIA/image/20090320/ST_IMAGES_PL1AA.jpg
Construction of the 56-unit luxury development in Bukit Timah was originally scheduled to start last June and a preview had already been held. -- PHOTO: MADISON RESIDENCES

PROPERTY developer Keppel Land (KepLand) yesterday announced that it will defer the construction of its 56-unit development, Madison Residences, because of weak market conditions.

The project has not been launched.

Luxury condos such as the Madison have fallen out of favour in recent times as buyers turn to smaller, more affordable apartments.

Some earlier reports said 'some units' had been sold at the preview of the Bukit Timah condo for a median price of $1,801 per sq ft (psf).

However, KepLand said yesterday only one sale had been made, and that had been cancelled 'by mutual agreement'. It declined to give details.

Analysts that The Straits Times spoke to said it was not uncommon for developers to offer to buy back units sold at the preview of a project if there were changes to its development.

A search on the Urban Redevelopment Authority's website showed a single caveat lodged for a 1,776 sq ft unit at $3.1 million - or $1,745 psf - in September last year.

'Given current market conditions, there is no urgency to proceed with the construction of Madison Residences. The launch or when the construction will resume for the project will depend on market conditions,' KepLand told The Straits Times.

Construction was meant to start last June and take 21/2 years. Construction and property group KSH Holdings had won a $53 million contract from Keppel Land Realty to build Madison, it was reported.

The project consists of luxury three- and four-bedroom apartments that range in size from 1,460 sq ft to 4,000 sq ft.

Madison is the latest in a string of projects in the local property market that have been deferred in the wake of the global economic crisis.

Luxury units seem to have been hit harder, noted analysts, as buyers now prefer mass-market, lower-priced condos.

KepLand said in January that it would consider delaying the construction of some of its projects to save costs.

Some measures unveiled in January by the Government in the Budget also gave developers greater flexibility in terms of selling their residential units.

The measures include a one-year extension of the completion period for private residential projects. Also extended was the period in which developers with qualifying certificates need to dispose of all residential units, from two years to four. They can rent out unsold units during this time.

CB Richard Ellis executive director Joseph Tan said there had been examples in the past of developers offering to buy back units if there were changes to the development plans. He noted that it was also not unusual for a project to be deferred even after the preview.

In its statement to the Singapore Exchange, KepLand said the deferment is not expected to have any significant impact on the company's earnings per share for the current financial year.

[email protected]

Sea
27-07-09, 15:53
MADISON RESIDENCES

(Exclusively Yours)


Situated in the most sought after District 10, Bukit Timah vicinity


Prestigious freehold boutique development with exclusive 56 units


Within 1Km to Reputable schools like SCGS & Anglo Chinese School


High & Majestic Lobby to welcome residents


All units comes with Balcony & Private Lift


3 / 4 bedrooms & Penthouses available


Basement Carparking Lots


Quality Finishes



Sms at 90686016 for Preview and more details!!http://i213.photobucket.com/albums/cc302/noaharkk/btproject.jpg

teddybear
27-07-09, 16:09
How much psf now? (since Last launched at S$1800 psf).




MADISON RESIDENCES

(Exclusively Yours)


Situated in the most sought after District 10, Bukit Timah vicinity


Prestigious freehold boutique development with exclusive 56 units


Within 1Km to Reputable schools like SCGS & Anglo Chinese School


High & Majestic Lobby to welcome residents


All units comes with Balcony & Private Lift


3 / 4 bedrooms & Penthouses available


Basement Carparking Lots


Quality Finishes



Sms at 90686016 for Preview and more details!!http://i213.photobucket.com/albums/cc302/noaharkk/btproject.jpg

bargain hunter
27-07-09, 16:35
let me guess, 1600psf to be in line with Ferrell Residences?


How much psf now? (since Last launched at S$1800 psf).

dtrax
27-07-09, 16:37
ferrell $1600 meh? I tot was cheaper?

bargain hunter
27-07-09, 16:50
starting 1530 to high floor 1700 mah so average should be 1600 lor. then maybe keppel land deserves a premium for its more established developer status?



ferrell $1600 meh? I tot was cheaper?

franzmark
27-07-09, 18:06
madison is blocked in all directions except the part facing bt timah rd. 1700psf is worth paying for Devonshire but not where madison is. I wud think the old condo beside Madison (The Legend) is a better buy wth lower psf

Sea
01-08-09, 10:39
Preview on:

8/8/2009 (Saturday) & 9/8/2009 (Sun) :

Via Appointment only~

Sms at 90686016 for more details and

to be register as VIP

Thanks

august
03-08-09, 12:14
any indicative psf ??

echotrain
08-08-09, 12:19
The development may be quite attractive. It seems to span across as a horizontal continuous block. Any idea what the relative height of the development is compared to those behind it like the Legend and Cliften? Will it block those other older developments?

Indicative PSF?

teddybear
08-08-09, 14:18
Pay so much for this might as well pay for Viva. This estate too close to main road and only the front units have view but also subjected to noisy vehicles' noise especially at night because a good place for racing (no traffic nights). To make a U-turn have to drive very far away. Also, this place always jammed during morning and evening hours. Some inconsiderate idiots always jam up the middle lane on Dunearn Road (when there is long queue on left lane) when they are sending kids to school and also jam up when merging into Newton Circus.


madison is blocked in all directions except the part facing bt timah rd. 1700psf is worth paying for Devonshire but not where madison is. I wud think the old condo beside Madison (The Legend) is a better buy wth lower psf

Regulators
08-08-09, 15:15
only a goondu wud pay this kind of px for madison. Right side blocked by 19 storey The Legend, left side blockd by Belerive, back blocked by some old condos and front entrance facing Bt Timah rd.

andy
08-08-09, 18:44
only a goondu wud pay this kind of px for madison. Right side blocked by 19 storey The Legend, left side blockd by Belerive, back blocked by some old condos and front entrance facing Bt Timah rd.
Actually it is not Belerive as this is along Keng Chin Road. However FEO has vacant lands at 347, 349, 351 and 353 Bukit Timah road on the right of Madison. These combined development will most likely completely eclipse and block the entire Madison since all the views and balconies are facing these FEO to be built development;-)

Regulators
08-08-09, 23:56
my friend lives in the legend , i can see belerive just beside madison from the window, go to the site and you will see what i mean


Actually it is not Belerive as this is along Keng Chin Road. However FEO has vacant lands at 347, 349, 351 and 353 Bukit Timah road on the right of Madison. These combined development will most likely completely eclipse and block the entire Madison since all the views and balconies are facing these FEO to be built development;-)

teddybear
09-08-09, 00:22
To be more exact, turning in to Keng Chin Road from Bukit Timah road, on the left is Honolulu tower then Bellerive. to the right is Madison and further to the right is Cyan and Legend. Further in is some older condos on higher ground.


Actually it is not Belerive as this is along Keng Chin Road. However FEO has vacant lands at 347, 349, 351 and 353 Bukit Timah road on the right of Madison. These combined development will most likely completely eclipse and block the entire Madison since all the views and balconies are facing these FEO to be built development;-)

Regulators
09-08-09, 01:25
if anybody wants to get a good condo in that parcel of land with nice city view, the legend or honolulu are the better buys. ferrel and belerive may not be too bad but the pricing would be equally ridiculous as madison. but again it is just a matter of time belerive would also be blocked coz the shorter developments nearby would have big potential for enbloc. If anyone is buying in the hope of enbloc, old developments around there is a good bet, but have to look at plot size.

Shacain
09-08-09, 11:03
i see most projects around here do not bang on views..they cater for its pretigious address that most people would want to have .... 355 Bt Timah Road. For those who are rich and wanting to send their kids to the schools around them, it is definitely a good choice location. With Steven's MRT coming up, it will raise its value in time to come. Walk down to the showrm and look at the finishing, you will see how KeppelLand live up to it's name. It is a gd buy at the marketed price.

Regulators
09-08-09, 12:45
:doh:
Come on, how can 1700psf be a good buy for that area when Devonshire condos were going for around that price?

tantan
09-08-09, 15:28
Viva is a better buy when you compare with this development.

teddybear
09-08-09, 22:19
Finishing is good but probably no choice because it has nothing better to offer other than this vs other projects around there. Steven's MRT is quite some walking distance away and no other amenities nearby. At least Ferrell Residences has a very uniquely designed building and facade vs this.


i see most projects around here do not bang on views..they cater for its pretigious address that most people would want to have .... 355 Bt Timah Road. For those who are rich and wanting to send their kids to the schools around them, it is definitely a good choice location. With Steven's MRT coming up, it will raise its value in time to come. Walk down to the showrm and look at the finishing, you will see how KeppelLand live up to it's name. It is a gd buy at the marketed price.

teddybear
09-08-09, 22:21
Devonshire asking about $2k psf for more desirable units already.

:doh:
Come on, how can 1700psf be a good buy for that area when Devonshire condos were going for around that price?

Shacain
10-08-09, 11:50
Finishing is good but probably no choice because it has nothing better to offer other than this vs other projects around there. Steven's MRT is quite some walking distance away and no other amenities nearby. At least Ferrell Residences has a very uniquely designed building and facade vs this.
The supply of any projects in tat area not only leverages on their address, but schools whom some pple may want. Supply of prop in Marina area leverages on views; supply of prop at Changi business park on businesspark, the list can go on ... Ferrell is interesting but not very sure abt practicalities and internal utilsable area. :)

teddybear
10-08-09, 12:16
Regarding the schools, distance now has relatively much less value when balloting is still needed even if you live within 1 km for many of the schools there. Furtheremore, there are many condos there selling at or renting at much cheaper price, so no reason to support the high asking price. For own stay around Madison, not really convenient lah.


The supply of any projects in tat area not only leverages on their address, but schools whom some pple may want. Supply of prop in Marina area leverages on views; supply of prop at Changi business park on businesspark, the list can go on ... Ferrell is interesting but not very sure abt practicalities and internal utilsable area. :)

teddybear
10-08-09, 12:17
Deleted (repeated post)

denverusa
10-08-09, 17:20
Actually, i dun remember when along bukit timah road is so prime until it can command 1600 - 1800 psf and more, it's just a busy, one way road. the old ones surrounding are like 2/3 the price or less. Agts keep telling buyers good schools but all the more i need to avoid becos of traffice jams ! maintenance fee for 3 bed is $600 a mth.

Shacain
10-08-09, 17:43
Actually, i dun remember when along bukit timah road is so prime until it can command 1600 - 1800 psf and more, it's just a busy, one way road. the old ones surrounding are like 2/3 the price or less. Agts keep telling buyers good schools but all the more i need to avoid becos of traffice jams ! maintenance fee for 3 bed is $600 a mth.
It is really perception of how much a property should command. I also cannot remember when AMK property transacting at ~1200psf - but then, who knows - they could be laughing their way to the banks in future. :)

proud owner
10-08-09, 20:36
Actually, i dun remember when along bukit timah road is so prime until it can command 1600 - 1800 psf and more, it's just a busy, one way road. the old ones surrounding are like 2/3 the price or less. Agts keep telling buyers good schools but all the more i need to avoid becos of traffice jams ! maintenance fee for 3 bed is $600 a mth.

for those whos been living there ..they probably already gotten used to the traffic conditions ..to them its a huge improvement when Turf club moved out .. so they have no complains


but for new comers ..its a real issue

when 'good schools' = rich people ..

rich people = drive = dont care about road signs

i saw many many times ..their big cars turning out of school ..cutting across double white lines .. traffic police NEVER there to catch them ..

many many times /even now .. they stop their car one lane 3 = bus lane , occupying the whole lane along dunearn , all the way to the school gate.. again traffic police NEVER there to catch them ..

once i called Class 95 to complain .. then it was OK but only for awhile ..


so i never really fancy that stretch ..
as for Madison .. the closest amenities like i said is the BP station .. ehhe

but to go to town ..they could make a left along Bkt timah into Robin road and out towards pinetree area .. but Keng chin road is small, narrow , cramp .. and that short Ewe boon road inside..supports 2-3 condos ..in time to come .. Keng chin will be another Little Bkt Timah by itself .. traffic condition wise

Regulators
10-08-09, 21:11
talking bout those rich people driving big cars and schools, just drive by nanyang primary during the peak hours..:doh:



for those whos been living there ..they probably already gotten used to the traffic conditions ..to them its a huge improvement when Turf club moved out .. so they have no complains


but for new comers ..its a real issue

when 'good schools' = rich people ..

rich people = drive = dont care about road signs

i saw many many times ..their big cars turning out of school ..cutting across double white lines .. traffic police NEVER there to catch them ..

many many times /even now .. they stop their car one lane 3 = bus lane , occupying the whole lane along dunearn , all the way to the school gate.. again traffic police NEVER there to catch them ..

once i called Class 95 to complain .. then it was OK but only for awhile ..


so i never really fancy that stretch ..
as for Madison .. the closest amenities like i said is the BP station .. ehhe

but to go to town ..they could make a left along Bkt timah into Robin road and out towards pinetree area .. but Keng chin road is small, narrow , cramp .. and that short Ewe boon road inside..supports 2-3 condos ..in time to come .. Keng chin will be another Little Bkt Timah by itself .. traffic condition wise

bargain hunter
10-08-09, 22:17
anyone got updates on how this project is doing? i know over the past few weeks Ferrell Residences slowly selling and managed to sell half their units already.

bargain hunter
14-08-09, 01:00
Keppel Land's investor relations slides released today indicates 46% of 56 units ie 26 units sold.

mr funny
08-09-09, 21:52
http://www.straitstimes.com/Money/Story/STIStory_426778.html

Sep 8, 2009 Tuesday

Another 50 Trevista units snapped up

By Joyce Teo


NTUC Choice Homes sold another 50 units at its Toa Payoh condo Trevista over the weekend, taking the total number of units sold there to 460.

The remaining units at the 590-unit condo are mainly larger ones - continuing a trend where buyers snap up smaller homes.

Trevista attracted hordes of keen buyers and onlookers at its preview two weekends ago. It sold out 210 units in one afternoon, on the first preview day of Aug 28.

Most of the unsold units at the 99-year leasehold project are the three- and four-bedroom units. An NTUC Choice Homes spokesman said there are just 'a handful' of two-bedroom units left for sale.

The 39-storey condo was previewed at an average price of $898 per sq ft. At that time, the three- and four-bedroom units averaged $1.065 million and $1.43 million respectively, under the normal payment scheme.

Now, the remaining three-bedders are priced from $1.008 million. They cost $884 psf to $1,050 psf. The four-bedders are priced from $850 psf to $964 psf, or from $1.448 million.

Elsewhere, sales are still ongoing at current launches. For instance, developer Keppel Land has now sold 37 out of 56 units at Madison Residences in Bukit Timah Road at an average price of $1,700 psf, after selling another unit over the weekend.

The project was launched in the middle of last month, after a brief preview.

The market was generally quieter over the past weekend, compared with the previous one.

Property agents said one factor might be people going away for the school holidays. Also, they said some price resistance may be setting in, particularly at projects subject to recent price rises.

Next week, The Trizon @ Mount Sinai, which has sold at least 110 units, will be launched. The project was previewed late last month at $1,300 psf to $1,500 psf.

Next month, the 1,040-unit The Interlace in Alexandra Road will be launched. Other possible launches this year include the 119-unit Elliot at The East Coast and a 396-unit condo on the former Hong Leong Gardens site in West Coast.

Reporter
07-10-09, 10:27
http://www.businesstimes.com.sg/mnt/static/image/images/topMasthead_small.gif
Ho Bee prices Trilight at $1,650 psf
Far East sells 12 units at Alba in Cairnhill at average $2,300 psf
Kalpana Rashiwala
The Business Times
Wednesday, 7 October 2009

Ho Bee Investment will preview its Trilight condo at Newton Road this week at an average price of about $1,650 psf, the group's chairman and CEO Chua Thian Poh told BT yesterday.

Ho Bee will not offer an interest absorption scheme (IAS) for the 30-storey freehold condominium project, located on the highest point in the Newton area.

The $1,650 psf average price will be for an initial batch of 60 units. The condo will have a total 205 units, up from 152 planned initially. The increase results from Ho Bee's decision to introduce two-bedroom units and reduce the number of four-bedders. Previously Trilight had only three- and four-bedroom apartments.

The latest scheme comprises 104 two-bedroom units ranging from 1,109 to 1,227 sqft; 74 three-bedders in two sizes (2,099 and 2,110 sqft) and 24 four-bedroom apartments of 2,336 sq ft. Trilight will have three penthouses - two units of 5,200 sq ft and one of 5,800 sq ft.

The typical two-bedder will cost under $2 million.

CB Richard Ellis and DTZ will market the project.

Market watchers say the $1,650 psf average price is within the range of recent transactions in the area. In nearby Bukit Timah Road, units at Ferrell Residences sold for between $1,556 psf and $1,931 psf in July-August.

And Madison Residences nearby sold at $1,567-1,745 psf in August, according to Urban Redevelopment Authority information on developer sales.

The high-end housing market is stirring again after Hungry Ghost Month. Far East Organization has sold a dozen units over the past couple of weeks at its Alba project in Cairnhill Rise. The unit sizes are 1,862, 2,066 and 2,250 sqft.

They are among a clutch of 18 units Far East released on the second to seventh levels of the 18-storey freehold condo, which has a total of 50 units. The average price achieved for the 12 units sold is $2,300 psf, with the highest price being $2,500 psf.

Under the freehold project's 'white plan', Far East can customise apartment layouts to suit buyers' preferences.