SINGAPORE (EDGEPROP) - Singapore’s two biggest listed property giants, CapitaLand Ltd and City Developments Ltd (CDL), launched their joint development, the 680-unit Sengkang Grand Residences, on Saturday, Nov 2, a week after its preview.
A total of 216 units, or 31.8% of the units in the development, were sold at an average price of $1,700 psf by 6pm on Nov 3, according to the developers in a joint release. “The strong performance makes Sengkang Grand Residences the best-selling integrated project launch this year,” the joint developers added.
About 93% of the buyers are said to be Singaporeans, with the remainder being a mix of permanent residents and foreigners, primarily from China, Malaysia, India and the Philippines.
It will be a new landmark in the heart of Sengkang Central, with 300,000 sq ft of amenities including a shopping mall, community club, hawker centre, community plaza and childcare centre, with seamless connectivity to Buangkok MRT Station and bus interchange.
“This points to the continued market demand for residences set within an integrated development,” says Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, Residential & Retail. “Building on our track record of developing iconic integrated developments, Sengkang Grand Residences will be part of the first integrated community and lifestyle hub in the North-East region.”
Units range from 474 sq ft for a one-bedroom-plus-study to 1,324 sq ft for a four-bedroom-premium-plus-flexi unit. Prices start from $798,000 for a one-bedroom-plus-study type; from $998,000 for two-bedroom units; from $1.498 million for three-bedders; and from $2.1 million for four-bedroom-premium-plus-flexi units. All the units will be equipped with European brand kitchen and sanitary fittings from De Dietrich, Hansgrohe, Franke and Duravit.
CDL group general manager, Chia Ngiang Hong, says: “The robust take-up reflects a healthy demand for attractively priced homes that are well-designed, well-located and well-connected to a comprehensive array of amenities.”
For price trends, recent transactions, other project info, check out Sengkang Grand Residences project research page
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