Property developer Oxley Holdings will likely launch five more residential and commercial property projects before the year ends.
Ching Chiat Kwong, chief executive of Oxley, told The Business Times that it will launch freehold projects at Stevens Road, Devonshire Road, Kovan Road, Telok Kurau Road and Holland Road, with a total of 338 residential units and 28 shops before the year ends.
Mr. Ching is bullish about the condition of the Singapore property market, saying that “the (recent) government measures tread a fine line but they are aimed at speculators and to prevent an asset bubble,” adding that “the outlook for the property market here is still strong.”
Including the five projects due to be launched this year, the developer has a total of nine residential and residential-cum-commercial sites in its land bank, which could potentially yield up to 517 residential units and 35 shops.
Oxley owns a 60-year leasehold industrial site located at Ubi Road, and also acquired a 21-storey freehold office tower at Robinson Road, as well as The Corporate Office from CDL for approximately $215 million.
The developer has already launched five projects since Mr. Ching set the firm up with other investors last year, including the Suites@Katong, Loft@Rangoon and Parc Somme, which have been fully sold. Meanwhile, RV Point and Viva Vista projects are 84 percent and 99 percent sold, respectively.