Not sure if the article today in BT is sufficient to document my point and add more validity to it but here's a summary:
Published May 23, 2009
http://www.businesstimes.com.sg/mnt/...image/ax/c.gif
Ferrell puts 80 RiverGate units back on market
30 to 40 apartments have since been sold at private preview
By EMILYN YAP
FERRELL Asset Management, which counts Indonesia's Lippo Group as one of its investors, has put around 80 apartments at the RiverGate back on the market for sale, BT understands.
According to agents, a private preview began a few days ago and around 30 to 40 units have been taken up. The 545-unit freehold condominium in the Robertson Quay area received Temporary Occupation Permit in March, and was a joint development between CapitaLand and Hwa Hong Corporation.
The apartments on sale are spread over several floors and comprise three-bedders, four-bedders and penthouses. They are selling at $1,450 - $1,550 psf, one source said. Prices of lower-level units may even start from $1,380 psf.