Singapore Companies
Published November 22, 2006

KepLand's $30m marina gives nearby condos a lift

By ARTHUR SIM

THE waterfront lifestyle is set to get a boost from Keppel Land's $30 million [email protected] Bay, slated for completion at the end of next year.

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[email protected] Bay: With space for almost 200 yachts, it will add to the upmarket positioning of KepLand's soon-to-be-launched condominium

The marina on Keppel Island will be able to accommodate almost 200 yachts, with five berths for mega yachts of between 100 and 200 feet.

The marina will also add to the upmarket positioning of Keppel Land's soon-to-be-launched condominium next to its [email protected] Bay.

Already, news of the Sentosa integrated resort has helped push up prices in the area. Caribbean was launched at about $800 psf in 2000, but prices have since surged almost 50 per cent. Keppel Land has only a few units left - and its deputy general manager of marketing (residential) Albert Foo says prices are now around $1,200 psf.

Like Sentosa Cove, the area, with Keppel Land's as-yet-unnamed new condominium development, is being marketed as a playground for the rich and famous, and Mr Foo says the response from foreign investors has been good.

The condominium is being designed by renowned architect Daniel Libeskind. 'We have test marketed the design overseas and we are confident of getting a wider range of foreign investors,' Mr Foo said.

At the Caribbean, about 20 per cent of buyers are foreigners, he said.

Prices of the 1,200-unit new development have not been fixed, but Mr Foo said Keppel Land will take its cue from prices at Sentosa Cove. He said that apart from this development, Keppel Land has three more residential sites at Keppel Bay.

One site will share Keppel Island with the marina and is expected to be for luxury housing. The other two sites are between Caribbean and HarbourFront Centre. No time frame has been announced for these developments.