216 units at Sengkang Grand Residences sold at launch

Mon, Nov 04, 2019

NISHA RAMCHANDANI


LISTED CapitaLand and City Developments, joint developers of Sengkang Grand Residences, sold 216 of the 280 units released for sale at the project's weekend launch at an average selling price of around S$1,700 per square foot (psf).

The tally, as at 6pm on Sunday, showed about 93 per cent of the buyers were Singaporeans, while the remaining 7 per cent were permanent residents and foreigners mainly from China, Malaysia, India and the Philippines. Sales began on Saturday, a week after its sales gallery opened for viewing.

The 99-year leasehold development comprises 680 units across nine blocks, with unit sizes ranging from 474 sq ft for a one-bedroom plus study to 1,324 sq ft for a four-bedroom premium plus flexi unit.

Prices start from S$798,000 for a one-bedroom plus study unit, S$998,000 for a two-bedroom, S$1.498 million for a three-bedroom, and S$2.1 million for a four-bedroom premium plus flexi unit.

CapitaLand and CDL clinched the site for S$777.78 million in August 2018. At 37,254.9 square metres (401,012 sq ft), it is the largest commercial and residential site awarded since 2015.

Located in District 19 at Compassvale Bow, Sengkang Grand Residences offers access to some 300,000 sq ft of lifestyle and community options through the three-storey Sengkang Grand Mall, a community club, hawker centre and community plaza. Aside from connectivity to Buangkok MRT station and a bus interchange, residents will have access to major expressways such as the CTE and KPE.

CDL group general manager Chia Ngiang Hong said: "The robust take-up reflects a healthy demand for attractively priced homes that are well-designed, well-located and well-connected to a comprehensive array of amenities. As the first integrated community and lifestyle hub in the north-east region, Sengkang Grand Residences offers residents direct access to lifestyle conveniences and vibrant community living experience under one roof. We are confident that the project will continue to attract interest from prospective homebuyers and investors."

Ronald Tay, chief executive officer of CapitaLand Singapore, Malaysia & Indonesia (residential & retail), added: "We are very encouraged by the strong response at the weekend launch of Sengkang Grand Residences. This points to the continued market demand for residences set within an integrated development. Homebuyers are drawn to the property's convenient location atop a transport hub and direct access to an exciting line-up of retail offerings at Sengkang Grand Mall, among other facilities and amenities."

The marketing agents are ERA and PropNex.

Shares in CapitaLand closed five cents higher at S$3.65 on Friday, while shares in CDL closed up seven cents at S$10.86.