Property developer Heeton Holdings is moving to the mass market segment, on the back of a challenging property market within the city-state, according to media reports.
“Normally, we don’t go into these areas but, lately, we feel that it may be a safer bet,” said Chief Operating Officer and Executive Director Danny Low.
Low noted that selling high-end units has become increasingly difficult these days, given the current economic conditions and property cooling measures, particularly the Total Debt Servicing Ratio (TDSR).
In response, the developer came up with its latest project, Onze@Tanjong Pagar.
Set for completion by end-March 2018, the 18-storey mixed development project comprises 56 residential units and 13 commercial shops.
Of the residential units, 50 percent will comprise three-bedroom units, while the rest will be one-bedders. Unit sizes will range from 506 sq ft and 1,141 sq ft, and will be offered at S$2,250 psf on average.
Commercial units are prices at an average of S$6,300 psf.
Offering a 20 percent early bird discount, Heeton revealed that its sales agents have already collected around 28 cheques from buyers of units at Onze@Tanjong Pagar.
Image: Onze@Tanjong Pagar (Artist’s impression)
Nikki De Guzman, Junior Reporter at PropertyGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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