Crowd at Watten House (Photo: UOL Group)
Singapore-listed UOL Group and Singapore Land Group (SingLand) announced that the joint venture partners had sold 102 (57%) out of 180 units on the first day of Watten House's private preview on Nov 18. The average price of the freehold condo on Shelford Road in prime district 11 was $3,230 psf.
"Watten House has ended the year well for UOL and SingLand," comments UOL Group CEO Liam Wee Sin. The new luxury development sits on a 220,241 sq ft site.
Units sold included three of eight penthouses in the development, says Anson Lim, UOL general manager (residential marketing). According to Lim, 96% of the 102 buyers were Singaporeans and permanent residents, purchasing for owner occupation and investment.
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Lim attributes the strong sales to the site's "rarity and potential upside due to Watten House's location in a predominantly Good Class Bungalow locale with nearby renowned schools and lifestyle amenities".
Another draw was the design of the project, notes Liam. "Our design concept is of a palatial home characterised by an Asian touch, with vernacular roofs and elegant proportions," he says.
Watten House is a redevelopment of the former Watten Estate Condo, which UOL and SingLand purchased en bloc for $550.8 million in October 2021.
UOL will close Watten House's show flats and sales gallery following the private preview this weekend (Nov 18-19), with the public launch held next year.