This week in property: Highlights from Dec 10 to Dec 14

By Rachael Tan / EdgeProp | December 14, 2018 8:00 PM SGT
Property highlights of the week from Dec 10 to Dec 14:
1. Lofty living at Southeast Asia’s tallest towers
Even from the lowest level - a four-bedroom show suite on the seventh level - residents enjoy unblocked views of the surrounding area (Photo Credit: Samuel Isaac Chua/EdgeProp Singapore)
The Astaka is considered the most luxurious development in Iskandar Malaysia, says Zamani. “Astaka” means “Royal Pavilion”, he adds. The development obtained its Certificate of Completion and Compliance earlier this year.
As The Astaka is the flagship development of One Bukit Senyum, the residences have high specifications. The façade is clad with double-glazed, low-e glass, which helps reduce heat, glare and noise.
Facilities include sky lounges, entertainment rooms, outdoor entertainment areas, cigar rooms, themed gardens and “live kitchens”, where residents can hire a chef for private dining.
2. Park View Mansions in second enbloc attempt this year
View of Jurong Lake from Park View Mansions (Credit: Huttons Asia)
The owners of Park View Mansions are attempting a second en bloc bid this year, and more than 80% of the 160 owners have agreed to a lower reserve price, says marketing agent Huttons Asia. The development has been launched for sale for $250 million, or $969 psf ppr after factoring an estimated differential premium and lease upgrading premium of $140.8 million.
This is a 22% reduction to the reserve price when the 99-year leasehold development first launched a collective sale bid in March this year, at $320 million ($1,183 psf per plot ratio). A new development would have a breakeven price of about $1,450 psf, and owners are expected to receive $1.44 million to $1.6 million each from the sale.
3. Singapore ranks second among investment...