Sengkang EC OL sells 30% of units on first weekend

167 of 548 units in development near MRT station sold at average price of S$1,135 psf

Tue, Mar 24, 2020


A THIRD of all units in executive condominium (EC) OL in Sengkang have been snapped up within the first weekend of sales on March 22, property developer Anchorvale said in a statement on Monday.

One executive said the figures were encouraging despite a lower-than-expected turnout.

Buyers purchased 167 of the 548 units in the Spanish-themed EC, which is located near Sengkang MRT and slated for completion by December 2023.

Three of the nine penthouses sold at above S$2 million each.

The total average price of the units sold on a per square foot (psf) basis was S$1,135.

Anchorvale - a joint venture between Evia Real Estate and Gamuda Land - said that around 30 per cent of all three-bedroom, three-bedroom premium, four-bedroom and five-bedroom units were sold, as well as 10 per cent of all two-bedroom units.

It added that 102 units were sold to first-time buyers, while second-time buyers looking to upgrade their homes bought the remaining 65 units. The majority of buyers - 107 - lived in the same District 19.

Close to 40 per cent of the units sold were on a deferred payment scheme, while the rest were on normal progressive payment, it added.

Describing the turnout as "lower than expected", Evia Real Estate director Vincent Ong said the higher proportion of buyers opting for deferred payment reflected the economic and job uncertainty here brought on by the continued spread of the novel coronavirus.

"OL is probably the only sizeable residential project to proceed with its sales launch after the impact of Covid-19 situation began to be felt across Singapore's economy. Under such exceptional circumstances, we are encouraged by the sales after the first weekend.

"We remain convinced that this project has set a new standard for ECs in Singapore, and has been priced at affordable rates."

Each of the nine blocks in the luxury property will feature a painting by artist Eva Armisen, while each unit will get blinds bearing a flower-like motif inspired by the logo of Spanish porcelain maker Lladro.

A clubhouse in the main lobby will also feature a Lladro chandelier with 200 fairies.

Other features and services include lounges and clubhouses, telehealth services and complimentary classes such as dance, yoga and baking.

Mr Ong said the developer would continue vigorous marketing efforts for the property and keep its showroom open for the coming months.

It will also facilitate private viewings for buyers concerned about crowds amid the pandemic.

Other health and safety measures it has implemented in its showroom include the installation of advanced air filters, stringent cleaning schedules, visitor temperature screening, and a minimum distance of one metre between those queuing to view show units.