Reflections at Keppel Bay (D4, 99 Years, Keppel Land)

[dormer]

This is Blk 21 #05-69

Tks for the update. Just wonder the buyer is local or overseas?

[8kenshin]

East Coast Boy - Thanks for info...do you know how this translates to the Bock Lettering (i.e. Blocak A, B ,C etc).

Is this a prime "Villa" block (i.e. A-E) or one of the high rise towers?

[East Coast Boy]

Address PSF Area Sqft Price Contract Date
25 #20-77 $2600 1410 $3666k 03 Aug 11
25 #05-76 $1651 926 $1528k 29 Jul 11
21 #03-69 $2966 2949 $8746k 28 Jul 11
25 #12-77 $2214 1152 $2550k 28 Jul 11
21 #05-69 $3025 2949 $8921k 20 Jul 11

[8kenshin]

Thanks ECB

My guess is that the is either Villa Block B or Block F, most likely the latter.

These are on the waterfront, around 20 meters away from the water.

[East Coast Boy]

Thanks ECB

My guess is that the is either Villa Block B or Block F, most likely the latter.

These are on the waterfront, around 20 meters away from the water.

Blk 21 are Blk A
Blk 19 are Blk B
Blk 17 are Blk C
Blk 15 are Blk D
Blk 13 are Blk E
Blk 11 are Blk F
Blk 09 are Blk G
Blk 07 are Blk H
Blk 05 are Blk I
Blk 03 are Blk J
Blk 01 are Blk K

Tower 1A are Blk 23
Tower 1B are Blk 25
Tower 2A are Blk 27
Tower 2B are Blk 29
Tower 3A are Blk 31
Tower 3B are Blk 33

25 #20-77 $2600 1410 $3666k 03 Aug 11 -- Tower 1B Sub sale unit
25 #05-76 $1651 926 $1528k 29 Jul 11 -- Tower 1B Sub sale unit
21 #03-69 $2966 2949 $8746k 28 Jul 11 -- Villa Blk A
25 #12-77 $2214 1152 $2550k 28 Jul 11 -- Tower 1B Sub sale unit
21 #05-69 $3025 2949 $8921k 20 Jul 11 -- Villa Blk A

[8kenshin]

Great, thanks ECB!

Villa A also has unblocked views, there's an old video of an "interview" with a construction workr filed from the top of this bblock here.

http://www.youtube.com/watch?v=sM_g9pnbhho

IMHO, this development has the nicest views avaliable in all of Singapore island.

[East Coast Boy]

25 #15-77 $2300 1270 $2921k 25 Aug 11
25 #13-78 $2301 786 $1807k 24 Aug 11
27 #16-82 $2222 1292 $2869k 22 Aug 11
27 #15-82 $2166 1270 $2751k 19 Aug 11

[kane]

I haven't been a follower of Reflections and so recently when I saw the caveats, I was surprised to see such big differences in psf. They were sold at $1,600 -$1,700psf at launch if I remember correctly. So what happened in between that resulted in such big divergences in psf for the units being transacted in the resale market.

[devilplate]

I haven't been a follower of Reflections and so recently when I saw the caveats, I was surprised to see such big differences in psf. They were sold at $1,600 -$1,700psf at launch if I remember correctly. So what happened in between that resulted in such big divergences in psf for the units being transacted in the resale market.

During initial launch psf diff for high n low flr varies quite alot and sea and non sea facing varies alot alot too

[kane]

During initial launch psf diff for high n low flr varies quite alot and sea and non sea facing varies alot alot too

i see, thanks for clarifying.

[East Coast Boy]

Keppel Land’s Reflections at Keppel Bay, the developer’s iconic waterfront property, is likely to receive its temporary occupation permit (TOP) at year-end. And that may have stoked sales of late, say property experts. The 1,129-unit Reflections, designed by renowned architect Daniel Libeskind (most famous as the master planner for the rebuilding of the World Trade Center Site in New York), sits prominently at Keppel Bay and overlooks Marina @ Keppel as well as Sentosa Island. Units on high floors offer encompassing views of the sea and the city.

From Aug 23 to 30, two units at Reflections were transacted, according to data downloaded from URA Realis as at Sept 14. A 1,270 sq ft three-bedroom apartment on the 15th floor of one of the six high-rise glass towers at Reflections was recently sold for $2.92 million ($2,300 psf). In the same tower, two floors down, a 786 sq ft studio unit changed hands in a sub-sale for $1.8 million ($2,301 psf).

To date, developer Keppel Land has sold 821 out of the 830 units launched to date. Transaction prices at these levels are “reasonable”, given the development’s location next to the giant VivoCity mall, and Sentosa Island, where the Resorts World Sentosa integrated resort is located, says Margaret Thean, DTZ’s executive dirctor of residential. DTZ is a joint-marketing agent of Reflections with CB Richard Ellis (CBRE). “It’s for the super rich who want a different lifestyle. With its location right at the waterfront, residents can easily enjoy activities at the sea. Some of the buyers also own yachts, which they can berth at the marina.”

Interestingly, the highest price achieved for the project to date was $3,025 psf and it was for a 2,949 sq ft, four-bedroom apartment that was sold for over $8.9 million at end-July. It is also the sole transaction to date to have crossed the $3,000 psf threshold. Another similar-sized unit on the third level of the same tower was sold for close to $8.75 million, or $2,966 psf, in July. This was the next highest price psf achieved.

Libeskind, the star architect who designed Reflections Reflections has attracted local high-networth individuals and those from China, Hong Kong, and Malaysia, says Joseph Tan, executive director of residential services at CBRE. Tan adds that the project was recently showcased in an exhibition in Malaysia, and saw good response.

“An increase in transactions is expected when a property nears its TOP date,” says Tan. He says buyers who do not want to wait for construction to be completed, and who prefer to move in immediately, will likely buy a property closer to its TOP date. “Some buyers are more comfortable purchasing a property when it’s almost completed, so they know exactly what they are buying into,” he adds.

Institutional funds had also purchased block units in the development in 2007. For instance, Keppel Land sold two low-rise waterfront apartment blocks at Reflections, or 56 units, to Kuwaiti fund the Al-Nibras Islamic Real Estate Fund, for $286 million. The fund is holding the units as long-term investments.

Reflections is gaining international recognition because of Libeskind, who, besides the World Trade Center Site, is also famous for his iconic buildings such as the Jewish Museum in Berlin. “Its architecture adds to its uniqueness and that may matter to some buyers looking for a trophy asset,” says CBRE’s Tan.

However, Tan reckons Reflections’ location, amenities and spectacular views also play a key part in driving demand. It is located next to Keppel Land’s other condominium development, the 99-year leasehold 969-unit Caribbean at Keppel Bay, which was completed in 2004, and launched that same year. In August, there had been several transactions there with prices above $1,500 psf. Next to Caribbean is the HarbourFront precinct, with a mix of office towers and shopping malls including VivoCity, still the largest shopping mall in Singapore.

The mall is linked to the HarbourFront MRT Interchange and station, and is also just one train stop away from the Resorts World Sentosa integrated resort on Sentosa Island.

Positioned as an upscale condo project, Reflections has penthouses ranging from 7,000 to 13,300 sq ft. The development also contains a mix of units from studio apartments of 732 sq ft to four-bedroom units of up to 3,993 sq ft. Its six towers vary in height from 24- to 41-storeys, with each tower crowned by a sky garden. Sky bridges also connect the towers and act as communal spaces for residents. There are also another 11 low-rise apartment blocks directly fronting the bay with amazing sea views.

In neighbouring Telok Blangah, developer Bukit Sembawang Estates launched the freehold 283-unit Skyline Residences, which will sit on the site of the former Fairways Condo. The launch has also drawn homebuyers and investor interest to the Telok Blangah neighbourhood. To date, about 175 units have been sold at an average price of $1,900 psf.

No doubt transactions have slowed as sentiment has been affected by the US and European debt crisis, and fears of a global recession. However, there is still homebuyer interest in locations where buyers see value, and potential for future growth.

[DC33_2008]

Still waiting to own at unit here.

Keppel Land’s Reflections at Keppel Bay, the developer’s iconic waterfront property, is likely to receive its temporary occupation permit (TOP) at year-end. And that may have stoked sales of late, say property experts. The 1,129-unit Reflections, designed by renowned architect Daniel Libeskind (most famous as the master planner for the rebuilding of the World Trade Center Site in New York), sits prominently at Keppel Bay and overlooks Marina @ Keppel as well as Sentosa Island. Units on high floors offer encompassing views of the sea and the city.

From Aug 23 to 30, two units at Reflections were transacted, according to data downloaded from URA Realis as at Sept 14. A 1,270 sq ft three-bedroom apartment on the 15th floor of one of the six high-rise glass towers at Reflections was recently sold for $2.92 million ($2,300 psf). In the same tower, two floors down, a 786 sq ft studio unit changed hands in a sub-sale for $1.8 million ($2,301 psf).

To date, developer Keppel Land has sold 821 out of the 830 units launched to date. Transaction prices at these levels are “reasonable”, given the development’s location next to the giant VivoCity mall, and Sentosa Island, where the Resorts World Sentosa integrated resort is located, says Margaret Thean, DTZ’s executive dirctor of residential. DTZ is a joint-marketing agent of Reflections with CB Richard Ellis (CBRE). “It’s for the super rich who want a different lifestyle. With its location right at the waterfront, residents can easily enjoy activities at the sea. Some of the buyers also own yachts, which they can berth at the marina.”

Interestingly, the highest price achieved for the project to date was $3,025 psf and it was for a 2,949 sq ft, four-bedroom apartment that was sold for over $8.9 million at end-July. It is also the sole transaction to date to have crossed the $3,000 psf threshold. Another similar-sized unit on the third level of the same tower was sold for close to $8.75 million, or $2,966 psf, in July. This was the next highest price psf achieved.

Libeskind, the star architect who designed Reflections Reflections has attracted local high-networth individuals and those from China, Hong Kong, and Malaysia, says Joseph Tan, executive director of residential services at CBRE. Tan adds that the project was recently showcased in an exhibition in Malaysia, and saw good response.

“An increase in transactions is expected when a property nears its TOP date,” says Tan. He says buyers who do not want to wait for construction to be completed, and who prefer to move in immediately, will likely buy a property closer to its TOP date. “Some buyers are more comfortable purchasing a property when it’s almost completed, so they know exactly what they are buying into,” he adds.

Institutional funds had also purchased block units in the development in 2007. For instance, Keppel Land sold two low-rise waterfront apartment blocks at Reflections, or 56 units, to Kuwaiti fund the Al-Nibras Islamic Real Estate Fund, for $286 million. The fund is holding the units as long-term investments.

Reflections is gaining international recognition because of Libeskind, who, besides the World Trade Center Site, is also famous for his iconic buildings such as the Jewish Museum in Berlin. “Its architecture adds to its uniqueness and that may matter to some buyers looking for a trophy asset,” says CBRE’s Tan.

However, Tan reckons Reflections’ location, amenities and spectacular views also play a key part in driving demand. It is located next to Keppel Land’s other condominium development, the 99-year leasehold 969-unit Caribbean at Keppel Bay, which was completed in 2004, and launched that same year. In August, there had been several transactions there with prices above $1,500 psf. Next to Caribbean is the HarbourFront precinct, with a mix of office towers and shopping malls including VivoCity, still the largest shopping mall in Singapore.

The mall is linked to the HarbourFront MRT Interchange and station, and is also just one train stop away from the Resorts World Sentosa integrated resort on Sentosa Island.

Positioned as an upscale condo project, Reflections has penthouses ranging from 7,000 to 13,300 sq ft. The development also contains a mix of units from studio apartments of 732 sq ft to four-bedroom units of up to 3,993 sq ft. Its six towers vary in height from 24- to 41-storeys, with each tower crowned by a sky garden. Sky bridges also connect the towers and act as communal spaces for residents. There are also another 11 low-rise apartment blocks directly fronting the bay with amazing sea views.

In neighbouring Telok Blangah, developer Bukit Sembawang Estates launched the freehold 283-unit Skyline Residences, which will sit on the site of the former Fairways Condo. The launch has also drawn homebuyers and investor interest to the Telok Blangah neighbourhood. To date, about 175 units have been sold at an average price of $1,900 psf.

No doubt transactions have slowed as sentiment has been affected by the US and European debt crisis, and fears of a global recession. However, there is still homebuyer interest in locations where buyers see value, and potential for future growth.

[dmonddd]

my friend was debating with me....i pefer leasehold as see better yield

friend said wait after 30 years ....buyers would have difficulties in getting financing. cant sell and cant rent. Only upside he said is developer coming in for enbloc...there go your capital as if developer doesnt come in ...you pay for renewal

so far anyone knows of project that face such problem

[mantrix]

Any property in a good location, be it leasehold or freehold, will probably be en-bloc after 30-40 years in land-scarce singapore - IMO

[Allthepies]

my friend was debating with me....i pefer leasehold as see better yield

friend said wait after 30 years ....buyers would have difficulties in getting financing. cant sell and cant rent. Only upside he said is developer coming in for enbloc...there go your capital as if developer doesnt come in ...you pay for renewal

so far anyone knows of project that face such problem

u already paid a upfront premium for buying freehold. if u need 30 years before ur unit can make $$, then u had already made the wrong choice to choose tat development, not becos leasehold or freehold.=)

[DC33_2008]

Enbloc is a bonus if it happens. Cannot rely on it as things change.

u already paid a upfront premium for buying freehold. if u need 30 years before ur unit can make $$, then u had already made the wrong choice to choose tat development, not becos leasehold or freehold.=)

[gn108]

No so simple in the next 30 years.
In the last 10 yrs at least, all the GFA was max-ed out by developers.
Only way to EB is the Master/Concept Plan calls for increase in plot ratio.

Those that EB, are typically built in the 70's where GFA was not max-ed out and the changes in density favoured these developments to EB.

Any property in a good location, be it leasehold or freehold, will probably be en-bloc after 30-40 years in land-scarce singapore - IMO

[devilplate]

No so simple in the next 30 years.
In the last 10 yrs at least, all the GFA was max-ed out by developers.
Only way to EB is the Master/Concept Plan calls for increase in plot ratio.

Those that EB, are typically built in the 70's where GFA was not max-ed out and the changes in density favoured these developments to EB.

agree.

most likely we will be seeing lease top up/renewal if we live long enuff....hehe

however, i haf another question.....our condos r built to last more den 99yrs?

[hopeful]

agree.

most likely we will be seeing lease top up/renewal if we live long enuff....hehe

however, i haf another question.....our condos r built to last more den 99yrs?

has Arcadia lease been topped up?
Any other condo lease that has been topped up but not because of enbloc?

[devilplate]

has Arcadia lease been topped up?
Any other condo lease that has been topped up but not because of enbloc?

no urgency yet

wat i mean is lease runs out and govt allows lease top up

[gn108]

Maybe only the likes of Fullerton Hotel and Old Railway Station - those look the part.

Buildings get old/sick.
Original owners get old and die off, their offspring prefer shiny and new.
Land gets more expensive. EB happens.

In short - we will not be able to find out if the building can stand for that long.

agree.

most likely we will be seeing lease top up/renewal if we live long enuff....hehe

however, i haf another question.....our condos r built to last more den 99yrs?

[devilplate]

Maybe only the likes of Fullerton Hotel and Old Railway Station - those look the part.

Buildings get old/sick.
Original owners get old and die off, their offspring prefer shiny and new.
Land gets more expensive. EB happens.

In short - we will not be able to find out if the building can stand for that long.

so u r saying EB will eventually happens to all projects?

[hyenergix]

Enbloc is a bonus if it happens. Cannot rely on it as things change.

Maybe owners can form new company n buy over e enbloc condo. This can renew e lease, pay extra DC n taxes to help e poor, as well as have a new house in familiar environment.

[devilplate]

Maybe owners can form new company n buy over e enbloc condo. This can renew e lease, pay extra DC n taxes to help e poor, as well as have a new house in familiar environment.

easier said den done

[hyenergix]

It is to mean e reverse. Pls avoid buying 99LH in ulu places for investment purpose.

[gn108]

Meant for what has been for the EB so far.
I reckon we still have many projects that fit the EB-ble criteria.
But the 'low-hanging' fruit have mostly been sold.

As mentioned, from development TOP post 1990 - can't be sure what will happen but EB is lesser of a prospect under current plot ratio/ht restriction rules. So EB can happen, but the potential gain is limited to land cost.

so u r saying EB will eventually happens to all projects?

[devilplate]

Meant for what has been for the EB so far.
I reckon we still have many projects that fit the EB-ble criteria.
But the 'low-hanging' fruit have mostly been sold.

As mentioned, from development TOP post 1990 - can't be sure what will happen but EB is lesser of a prospect under current plot ratio/ht restriction rules. So EB can happen, but the potential gain is limited to land cost.

i believe those OCR land sites from GLS got very little chance of EB....if we live long enuff, i am pretty sure there will be lease top up happening provided our condos r meant to last for 2 centuries?

[gn108]

You might be correct and of course this makes sense.
Still alot of land to release and develop further out you go to the sticks.

But things change, developments don't always follow traditional 'cencentric' circles CCR, RCR, and OCR. Now it's more 'nodal' with MRT stations as the 'nodes'.

So old projects in OCR have some chance, esp if they are located near these nodes. But of course, CCR are best followed by RCR near MRT stations next (to me defined as the area within the CCL line bounded by Bishan/Paya Lebar/Pasir Panjang).

i believe those OCR land sites from GLS got very little chance of EB....if we live long enuff, i am pretty sure there will be lease top up happening provided our condos r meant to last for 2 centuries?

[iceflight]

Block 25 is tower 1a, the only tower with a direct fronting to the sea....... the entire tower was bought by a singular owner and now is up for sale....fact is that it's put out in the market(sub-sale) about 3 months ago and so far it's already 50% sold.....

there's some good buy there...... prices from $1550psf onwards.......

Actually I was really surprised at the take up rate!

[East Coast Boy]

Block 25 is tower 1a, the only tower with a direct fronting to the sea....... the entire tower was bought by a singular owner and now is up for sale....fact is that it's put out in the market(sub-sale) about 3 months ago and so far it's already 50% sold.....

there's some good buy there...... prices from $1550psf onwards.......

Actually I was really surprised at the take up rate!

Direct west Sun & facing Jurong Island Industrial view la...