SINGAPORE (EDGEPROP) - After its preview last month, EL Development launched its luxury residences, Pullman Residences Newton, for sale over the weekend. Of 25 units released, 12 have been sold as at Sunday, Nov 10. Average price of units sold was $3,000 psf.
SINGAPORE (EDGEPROP) - “We are encouraged by the positive response to the preview whereby more than 40% of the released units are sold,” says Lim Yew Soon, managing director of EL Development.
The 350-unit, freehold Pullman Residences Newton is a redevelopment of the former Dunearn Gardens site, which it purchased en bloc for $468 million in April last year. The 95,442 sq ft, freehold site is located just 150m from Newton MRT Station, which is an interchange station for both the North-South and Downtown Lines. It is also within the sought-after Dunearn Road-Bukit Timah residential enclave in prime District 11, and is near top schools such as Anglo-Chinese School (Primary), Hwa Chong Institution, Nanyang Primary School and Singapore Chinese Girls’ School.
Units at Pullman Residences Newton range from 463 sq ft for a one-bedroom unit; 667 sq ft for a two-bedroom unit; 1,163 sq ft for a three-bedder; to 1,378 sq ft for a four-bedroom apartment. Amenities in the upscale, branded residences will include a 50m lap pool, a children’s pool, club lounge with an attendant, outdoor dining pavilion, wellness gym, changing room, tennis court, and a small playground.
“Pullman Residences is a hotel branded residence with concierge service the likes of St Regis Residences, Ritz-Carlton Residences and others,” says Ismail Gafoor, CEO of PropNex Realty. “It’s definitely a value proposition as an investment given its location.”
The modest take-up rate is a reflection of “the current market fatigue owing to many new launches in recent weeks vying for buyers' attention”, adds Gafoor. However, he is confident that Pullman Residences’ sales momentum will pick up over time, “given its attractive product attributes”.
The project is jointly marketed by ERA Realty Network, Huttons Asia and PropNex Realty.
For price trends, recent transactions, other project info, check out Pullman Residences Newton project research page
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