The 508-unit Echelon condominium development (pictured) at Alexandra View received strong interest from home buyers, with 80 percent or 200 of the 250 units released sold on the first day of preview last Friday.
Developed by a joint venture led by City Developments Limited (CDL), the project features two 43-storey towers comprising one- to four-bedroom units, executive loft units and penthouses.
Priced at an early bird average of S$1,700 psf, this translates to about S$800,000 for a one-bedroom unit all the way up to S$7.15 million for a penthouse.
Initially, there were only 218 units planned for release but this was increased to 250 due to keen interest.
“The strong demand for Echelon is reflective of its premium location. It offers the best of both worlds – close proximity to the Redhill MRT station and nestled in the tranquility of the city fringe. Such attractive sites are rare today. We tendered strategically for this coveted piece of land in 2011. Since then, we’ve seen subsequent land sales in this area transact at prices significantly higher, which demonstrates the value and potential price appreciation of this locale and its surroundings,” said Chia Ngiang Hong, Group General Manager at CDL.
He added that both owner-occupiers and investors were drawn to buy units due to the “architectural excellence and an array of apartment sizes”.
Echelon is designed by SCDA Architects.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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