Wing Tai launches new condo tomorrow

[mr funny]

http://www.businesstimes.com.sg/sub/...38797,00.html?

Published May 13, 2011

Wing Tai launches new condo tomorrow

By UMA SHANKARI


WING Tai Holdings will launch its latest residential project, Foresque Residences at Upper Bukit Timah, tomorrow.


Natural luxury: Foresque Residences features five towers that are designed for maximum sense of space and openness

The 496 units in the 99-year-leasehold development on Petir Road are priced from $850 per square foot (psf) to $1,300 psf. The smallest units, 463-sq-ft one-bedders, start from $550,000, while 'cabana garden' units start from $1.75 million.

Wing Tai won the site in a state land tender in October last year with its top bid of $345 psf per plot ratio (ppr).

Foresque Residences is designed by award-winning architects Arc Studio, with whom Wing Tai collaborated for L'VIV, its high-end project on Newton Road. As at end-March 2011, 103 apartments in the 147-unit L'VIV had been sold, with the sole unit sold in March going for $2,200 psf.

Foresque Residences' design exploits to the fullest advantage the natural greenery and tranquillity of the Bukit Timah Nature Reserve, and offers views of the Upper Seletar and Upper Pierce Reservoirs, Wing Tai said.

The 24-storey development features five towers that are designed for maximum sense of space and openness. The design features aim to capture the unsurpassed expanse of natural luxury that the Cashew estate affords, said Edmund Cheng, deputy chairman of Wing Tai.

Len Siew Lian, Wing Tai's general manager for property, said she is confident that Foresque Residences will be well-received by the market. The pricing is 'commensurate' with the quality and value of the development, she added.

Elsewhere, Hoi Hup Realty will soon start to market The Forester @ Mount Faber, its 141-unit freehold development on Wishart Road. It is located on the site of the former Pender Court, which Hoi Hup bought in a collective sale in June 2010 for $915 psf ppr.

Units in The Forester @ Mount Faber are priced at around $1,800 psf on average, BT understands.

[mr funny]

http://www.straitstimes.com/Money/St...ry_668099.html

May 13, 2011

Foresque Residences sets new price mark

By Cheryl Lim


PROPERTY developer Wing Tai Holdings will be launching the Foresque Residences project at record prices for the Upper Bukit Timah area.

Market watchers say the nearby Petir LRT and Hillview MRT stations could be driving the prices up.

The 99-year leasehold project is on a 244,000 sq ft site on Petir Road, and consists of five 24-storey towers.

The 496-unit development includes one- bedroom to four-bedroom units, penthouse apartments and special cabana garden units.

Prices start from $1,150 per sq ft (psf) for a 463 sq ft one-bedroom unit, while its penthouses, which are from 1,119 sq ft to 2,573 sq ft in size, are going for up to $1,200 psf.

Homes near the upcoming Hillview MRT station have already set price benchmarks. Units at The Lanai on Hillview Avenue sold at an average of $1,450 psf last December.

But units nearer the Petir LRT station are still cheaper. Units at the Tree House condominium, which is next to Foresque Residences, sold for an average of $809 psf last July.

Mr Ong Kah Seng, senior manager for Asia-Pacific research at Cushman & Wakefield, said the stations are likely to support sales of new property projects.

'This is especially true for buyers looking to ride on the capital appreciation of a project,' he said.

He added that the Upper Bukit Timah area would be more accessible and connected to the rest of Singapore when the Downtown Line 2 is completed.

Although Foresque Residences is a leasehold property, its pricing has overshadowed those of freehold resale properties in the neighbourhood.

Mr Ong said such freehold projects in the Upper Bukit Timah vicinity are commanding average prices of about $1,100 psf, depending on the development's age, location, design and amenities.

Foresque Residences is also near the Bukit Timah Nature Reserve, Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace.

It is expected to receive its temporary occupation permit in June 2015.

The project's preview launch will be held tomorrow.