Sim Lian sells 105 more units at Treasure Trove over weekend

Business Times: Mon, Sep 19
SIM LIAN is understood to have sold a further 105 units over the weekend (up to 6 pm yesterday) at A Treasure Trove near Punggol MRT Station, taking total sales in the 99-year leasehold condominium project to 625 units.

The developer released another 200 units on Saturday, which means that 790 of the total 882 units in the condo have now been released for sale.

The average price for the newly released units is said to have been raised slightly from the original $866 psf. Sim Lian began previewing the project on Sept 8.

The most popular units in the development are two- and four-bedroom apartments.

One MRT stop away, sales at Keppel Land’s The Luxurie stood at 202 units as of 6pm yesterday. Based on the 151 units KepLand sold in the project in August – as stated in Urban Redevelopment Authority’s compilation of developers’ monthly sales data – KepLand has sold 51 units in The Luxurie so far this month. It has not revised its pricing, which has averaged $980 psf since it began selling the 99-year condo on Aug 26. To date, it has released 250 units in the 622-unit, 99-year leasehold condo for sale.

Market watchers say that The Luxurie’s higher pricing has sent most buyers to Sim Lian’s project. However, they note that the higher price for KepLand’s condo reflects its superior finishings and location a stone’s throw away from Sengkang MRT/LRT stations and bus interchange, Compass Point mall and other amenities.

Meanwhile in the Meyer Road area, Hong Leong Holdings had sold 108 units as of yesterday at The Meyerise. It released a further 30 units for sale in the freehold condo over the weekend, taking total units released to 150 units in the 239-unit project. The Meyerise will comprise two- to four-bedroom units as well as penthouses housed in two blocks of 31 storeys. The project was previewed early this month.

Hong Leong has previously listed the project’s unit prices as ranging from $1,400 psf to $2,540 psf. It is developing this project on a site of about 115,302 sq ft which it bought from Della Lee in 2007 for about $201 million.
Source: Business Times © Singapore Press Holdings Ltd.

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