Property developer Hong Leong Holdings has sold all 202 units at its 76 Shenton condo project in just one day.
The one- and two-room units in the 99-year leasehold project were sold after a balloting exercise. The selling price for one-room apartments worked out to about $1,600 psf -$2,600 psf while two-room units went from $1,600 psf to $2,300 psf.
The fast sales result for the project was attributed to its location in Shenton Way, the ”solid” design, the healthy pre-launch interest and the attractive pricing for the project.
Hong Leong is converting 76 Shenton from an office space into residential units and commercial space, which will also feature seven restaurants and some retail shops. The project is expected to be completed in end-2014.
Separately, City Developments said it will launch its luxury project, The Residences at W Singapore Sentosa Cove this weekend. The 228-unit residential project will be priced at around $2,500-$3,000 psf.
About 60 units are expected to be released this weekend, which comprises of two- to four-room apartments and penthouses ranging from 1,227 sq ft to 6,297 sq ft.
Mr. Kwek Leng Joo, CityDev’s managing director, said that when all the details are completed, most likely by 2012, Sentosa Cove will be one of the most promising destinations in the region.
Meanwhile, Ho Bee Investment and IOI will also release a preview of its 151-unit Seascape development at Sentosa Cove today. Units for the project are expected to work out to around $2,600 psf.