Over 350 Bedok Residences units snapped up on Day1

Business Times: Thu, Nov 24
CAPITALAND sold more than 350 apartments in its 583-unit Bedok Residences condominium yesterday – the first day of the property’s launch. The developer said that it achieved an average selling price of $1,350 per square foot (psf) for the 99-year-l…
CAPITALAND sold more than 350 apartments in its 583-unit Bedok Residences condominium yesterday – the first day of the property’s launch.

The developer said that it achieved an average selling price of $1,350 per square foot (psf) for the 99-year-leasehold project.

Of the 583 units in total, 450 were released for sale yesterday. As at 5pm, 350 units were sold.

According to CapitaLand, 66 units were sold within the first hour of the showflat’s opening yesterday morning. This came after a queue of more than 400 people formed outside the showflat by Tuesday night.

‘The strong sales numbers demonstrate that the queue formed outside our show suite over the past few days consists of genuine prospective buyers,’ said Wong Heang Fine, chief executive of CapitaLand’s Singapore residential unit. ‘Those who queued managed to buy their choice units on the same day.’

Bedok Residences, in Bedok Town Centre, is part of an integrated development comprising homes, a shopping mall and a transportation hub linked to Bedok MRT Station. CapitaLand is developing the entire project jointly with its retail unit, CapitaMalls Asia.

Separately, City Developments said in an update yesterday that it has sold 320 out of the 400 units it released in the 892-apartment The Palette.

Sales of the Pasir Ris project started on Nov 12. Units were priced at an early bird average of about $870 psf then, but prices have since been adjusted upwards by a marginal 2-3 per cent.

‘Launches that are conveniently located near MRT stations, such as The Palette, are experiencing strong take-up,’ noted a CityDev spokeswoman.

Next week, UOL Group and Singapore Land intend to roll out their newest project, the 577-unit Archipelago @ Bedok Reservoir, BT understands.

Units at the project are said to be priced tentatively at around $1,100 psf.

CapitaLand shares lost four cents or 1.6 per cent to end at $2.46 yesterday amid a broad market pullback.

Source: Business Times © Singapore Press Holdings Ltd.

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