http://www.straitstimes.com/archive/...march-20130307

Freehold project to be launched by end-March

Published on Mar 07, 2013

By Cheryl Ong


DEVELOPER Top Global will launch its freehold project The Maisons by the end of the month, it said yesterday.

Prices at the 175-unit development at the corner of Braddell Road and Sommerville Walk are likely to range from $1,350 to $1,450 per sq ft (psf), said chief operating officer Jennifer Chang.

The project comprises two separate developments - the 45-unit R Maison and E Maison, with 130 homes. Residents of one block will not have access to facilities at the other.

It aims to launch R Maison by the end of this month, and E Maison in the first two weeks of next month, said Ms Chang.

Chief executive Hano Maeloa said the development, which is on a 10,255 sq m site with a gross floor area of 14,356 sq m, is aimed at first-time buyers.

"Given that The Maisons is among the first developments rolled out after the recent additional buyer's stamp duty, our pricing strategy will factor in the additional cost of home purchases," he added.

"The Maisons is built on freehold land, which is now very rare given that land sold under the Government Land Sales programme is now of a 99-year lease tenure."

Top Global acquired the site through the 2011 collective sales of Braddell Regalia and Braddell Park for about $97.6 million in total.

The price guide announced yesterday puts the project in the same ballpark as neighbouring developments.

A unit at nearby Bartley Residences cost an average of $1,250 psf when the project was launched in February last year, while units at Gambir Ridge were sold at around $1,400 psf at its launch last September.

Although a preview discount will be given, Ms Chang said further discounts will not be dangled.

"We don't intend to market it such that there are furniture vouchers and rebates. At the end of the day, it goes back to the psf (prices)," she said.

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