More than 3,000 visitors thronged the showflat of The Arcady at Boon Keng over its opening preview on Jan 6 and 7 despite the wet weather over the weekend. Another new project, Hillhaven located at Hillview Rise, saw about 2,000 people visit its showflat this weekend.
The preview of The Arcady at Boon Keng and Hillhaven are the first two new projects to preview this year. Thus, the strong turn-out of potential buyers sends a strong signal to the market that local buyers are keen to kickstart the new launch market this year.
The Arcady at Boon Keng is a freehold development located on Serangoon Road in District 12. The 172-unit condominium is a redevelopment of the former Euro-Asia Apartments which was purchased enbloc for $222.18 million in 2022 by a consortium led by local property developer KSH Holdings. Other joint venture partners include SLB Development and H10 Holdings.
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An artist impression of The Arcady at Boon Keng - a freehold project on Serangoon Road in District 12. (Picture: KSH Holdings)
The new project comprises a mix of one-bedroom plus study units to four-bedroom plus study units, ranging from 527 sq ft to 1,625 units. There are also two penthouse units of 2,433 sq ft and 2,583 sq ft. The developers say that prices will start from $2,500 psf.
Responding to media queries from EdgeProp Singapore, a KSH Holdings spokesperson says that the developers are ‘thrilled’ seeing the strong response from buyers to their project, adding that the sales team were caught off-guard by the strong response and extra discussion tables to accommodate the crowd have been deployed throughout the showflat.
The public preview will continue until Thursday Jan 18 and the public booking of units will commence on Saturday Jan 20.
An artist impression of Hillhaven, jointly developed by Far East Organization and Sekisui House. (Picture: Far East Organization/Sekisui House)
The weekend also saw the preview of Hillhaven, a 99-year leasehold development that is jointly developed by Singapore property giant Far East Organization and Japanese company Sekisui House. The 341-unit development is located at Hillview Rise in District 23.
Far East Organization and Sekisui House were awarded the site in November 2022 when they submitted the top offer of $320.78 million for the government land sale (GLS) site. Although the developers have not publicly shared the expected selling price of Hillhaven, EdgeProp Singapore estimates that the project will have a breakeven price of $2,035 psf.
Hillhaven comprises a mix of two- to four-bedroom unit types ranging from 678 sq ft to 1,636 sq ft. The project has been open for preview since Saturday Jan 6 and over 2,000 visitors have been to the showflat over the Jan 6 and 7 weekend.
Read also: Private home prices up 1.5% q-o-q in 1Q2024, transactions down 20%: URA flash
Check out the latest listings for The Arcady At Boon Keng, Hillhaven properties