The 117-unit Jui Residences at Serangoon Road was launched for sale over the weekend of Sept 22, and more than 29 units have been sold as at Sept 25. This accounts for about 25% of the total number of units at the development.
The freehold development is by Malaysian-listed property developer Selangoor Dredging Berhad. The latter says the “strong interest” in Jui Residences stems from it being a “freehold development at leasehold prices”. So far, units have been sold at an average price of about $1,700 psf.
Most of the units at the single 18-storey tower which have been snapped up are one-bedroom units of 431 to 463 sq ft which are priced from $700,000; as well as two-bedroom units of 657 to 710 sq ft priced from $1.1 million. There are also three-bedroom units of 883 to 1,001 sq ft from $1.47 million.
The new development sits on the site of the former National Aerated Water Company bottling factory, and will incorporate the main building of the historical factory into the façade of the new development. Jui Residences faces a wide frontage of the Kallang River, which is being rejuvenated.
Jui Residences is expected to be completed in 2022.