BT : Ho Bee, MCL sell 51 units at Parvis‏

Business Times - 10 Nov 2009


Ho Bee, MCL sell 51 units at Parvis

(SINGAPORE) Ho Bee Investment and MCL Land last week sold 51 units at their Parvis condo at Holland Hill at an average price of about $1,480 per square foot (psf).

Unlike the recent trend of smallest units in a project selling out first, what happened at Parvis was quite the reverse, with four-bedroom apartments accounting for the most number of units sold - 19. This was followed by two-bedders (15 units) and three-bedders (14 units).

MCL and Ho Bee even sold three penthouses in response to buyer interest, although these were not part of the initial batch of 85 units they released for the preview.

They are now proceeding to do an official launch of the project at the weekend, when they will release more units in the freehold condo, which has a total of 248 units. The 12-storey project is being built on the former Holland Hill Mansions site.

Ho Bee general manager Chong Hock Chang revealed that ex-owners of Holland Hill Mansions had picked up seven apartments.

Singaporeans bought 39 of the 51 units sold. Permanent residents and foreigners acquired the remaining 12 units; they were mostly Malaysians, with some Indonesians, Mr Chong added.

The three penthouses sold comprise two single-level units of 2,300 square feet each, with three bedrooms and costing about $3.3 million apiece, and a 2,800-sq-ft duplex unit with four bedrooms, priced at about $4.1 million. The duplex was picked up by a foreigner while Singaporeans bought the two single-level penthouses.

Last month, Ho Bee released the freehold Trilight condo on Newton Road. To date, it has sold 61 units in the 30-storey project at an average price of $1,650 psf.