Wheelock Properties is planning to launch its Orchard View freehold project at Angullia Park in the first quarter of this year.
The news comes after CapitaLand boosted its sales from the Urban Suites project, where it sold 126 units – about 96 percent of the 140 units launched and 76 percent of the 165 units in the freehold project.
Wheelock’s director, Tan Bee Kim said that compared with three months ago, the company has received an increasing number of enquiries on the luxury property market.
“It is encouraging that we have been approached by several interested parties keen to purchase the units in Orchard View for their own occupation.”
The 36-storey Orchard View is located at the former Angullia View, which the company purchased in 2004. The new development project will comprise 30 four-bedroom units, each measuring 2,530 square feet.
Wheelock held a private preview of the Orchard View project in August last year, where it sold three units at an average price of $3,131 per square foot (psf) or about $8 million each.
Over at Urban Suites, it sold 66 units during its second launch, including the units sold in Jakarta last weekend. According to CapitaLand, all of the two-room units and most of the three-room units were sold. The selling prices worked out to around $2,500 to $2,800 psf, a 4 percent increase from the $2,400 to $2,700 psf price range during the launch of phase one. Two of the five penthouses were also sold, one for $8.6 million and the other one for more than $9 million.