Special Advertising Feature
UOL Group Limited (UOL) and Kheng Leong Company’s (Kheng Leong) latest residential development – Principal Garden – attracted close to 3,000 buyers at its public viewing last weekend despite the current soft property market.
It was crowds galore at Principal Garden’s showflat when close to 3,000 potential home buyers thronged the showflat at Prince Charles Crescent when it opened to the public on the weekend of 17 to 18 October. Industry watchers expect the newly launched project located off Alexandra Road to boost transaction volume in the Rest of Central Region (RCR) when sales commence at the end of the month.
“In the city fringe areas, we are expecting a few more new projects to be launched before the end of the year, such as Principal Garden at Prince Charles Crescent. These projects are expected to boost transaction volume in the RCR, and moving forward, we should see prices holding steady for the rest of the year, while transaction volumes remain robust,” Eugene Lim, Key Executive Officer and Head of Research at ERA Singapore was quoted as saying in a recent interview with PropertyGuru.
Strong attributes and attractive pricing
Despite the current soft property market, developments that have strong attributes such as low quantum, proximity to amenities and MRT stations will still draw buyers as seen during the Principal Garden preview.
“The turnout in Principal Garden over the weekend has been encouraging and we saw a good mix of investors and owner occupiers. We are offering buyers a high quality project at a very attractive average price of around $1,600 psf for the initial phase. Last year, we bought the site at a very reasonable price, and hence we are now able to pass on the savings to buyers. We believe buyers are able to see the value and investment potential of Principal Garden,” shared Anthony Wong, General Manager of Marketing at UOL.
Thoughtfully designed condominium in a prestigious location
Comprising 663 units in total, Principal Garden is nestled in an exclusive neighbourhood on the fringe of Mount Echo, Jervois, and Bishopsgate area. Keen buyers can pick from a good mix of one- to four-bedroom apartment types, as well as penthouse units depending on their requirement and budget. Regardless of which unit they pick, buyers can be assured that the interiors are all meticulously outfitted with top-of-the-line fittings and finishes. In fact, buyers can look forward to engineered timbre flooring, high-end appliances and kitchen cabinets as well as marble for master bath, which are comparable to the specifications at luxury condo Nassim Park Residences (also developed by UOL and Kheng Leong).
The development is designed with an 80:20 “garden living” concept – 80 percent vast foreground of lawn, pools, and other amenities, and 20 percent site coverage. The result is a beautiful composition of multi-layered, multi-functional spaces for relaxation, recreation, community and celebration. Facilities include a shared bicycle facility to capitalise on the Alexandra Park Connector, a substantial-sized gym of 2,018 sq ft and the Principal Sky Club on the 24th storey with its own infinity pool.
One- and two-bedders set to be a hit
While the development has a wide range of units, about 70 percent of the units at Principal Garden are one- and two-bedroom units with sizes ranging from 484 sq ft to 807 sq ft – perfect for singles, young couples, and investors seeking an affordable property that is situated close to town. The one-bedroom units will be priced from $770,000, while the two-bedroom units from $1.18 million. According to online reports, most of the projects in the Alexandra area have already sold their one- and two-bedroom units.
Last night at the South East Asia Property Awards 2015, UOL clinched the Best Mid-Range Condo Development (Singapore) for Riverbank@Fernvale and Special Recognition in Corporate Social Responsibility.
Image: The Principal Garden showflat was packed with crowds last weekend.
