http://www.businesstimes.com.sg/arch...katong-regency
Published April 17, 2012
UOL launching freehold Katong Regency
All 244 units in 3 residential towers to be released; average prices range from $1,450 psf to $1,700 psf
By lim wei sheng
Katong Regency: Comprises 126 one or one-plus-study bedrooms (549-581 sq ft), 58 two or two-plus-study bedrooms (936-990 sq ft), 36 three or three-plus-study bedrooms (1,389-1,464 sq ft), 18 one-bedroom sky suites (840 sq ft) and six three-bedroom penthouses (1,959 sq ft)
- UOL
KATONG Regency, a freehold residential project by UOL Group, will be launched this Thursday, with all 244 units being released.
Situated on the former Lion City Hotel and Hollywood Theatre sites along Tanjong Katong Road, the project comprises three residential towers located above a three-storey retail mall called One KM.
The project is targeted at upper and middle-income level buyers, said Kam Tin Seah, senior general manager, investment & strategic development, UOL Group Ltd, adding that about 80 per cent of the units are one or two-bedders.
Said Mr Kam: "Rarely do we find a freehold site that is so near to the city centre and yet so strategic in location for families and businesses ... we hope to be the catalyst to rejuvenate the Tanjong Katong enclave like ... in the past with Tiong Bahru and Novena."
Katong Regency comprises 126 one or one-plus-study bedrooms (between 549 and 581 sq ft), 58 two or two-plus-study bedrooms (between 936 and 990 sq ft), 36 three or three-plus-study bedrooms (between 1,389 and 1,464 sq ft), 18 one-bedroom sky suites (840 sq ft) and six three-bedroom penthouses (1,959 sq ft).
Prices for one-bedders average $1,700 psf, while two and three-bedders average $1,450 psf based on the pricing values of $950,000, $1.38 million and $2.05 million for one, two and three-bedders, respectively.
Said Mr Kam: "We foresee a core demand for this district ... one aspect being parents, especially those staying around the district, buying (the units) for their children ... similar to what is happening in places like Serangoon Gardens."
The residential project is likely to have a TOP date in the first half of 2014, and open concurrently with the mall, which will house lifestyle, edutainment and gastronomy retail options.
Mr Kam also noted the proximity of the development to key employment nodes as a pull factor.
Paya Lebar Central is slated for development into a commercial hub under the 2008 URA Master Plan. There is also Paya Lebar Square, a $1 billion development that houses 430,000 square feet of office space and is slated to be ready by mid-2014. The area will also host a Continuing Education and Training skills upgrading hub in 2013.