BT : Special HLF loan rates for CityDev's Sentosa project

Business Times - 15 Apr 2010

Special HLF loan rates for CityDev's Sentosa project

HONG Leong Finance (HLF) is offering buyers of The Residences at W Singapore Sentosa Cove an exclusive financing package, with rates from 0.98 per cent a year.

The 228-unit luxury project is being developed by City Developments Ltd (CDL), another Hong Leong Group unit.

HLF said that its home loan offerings feature some of the best interest rates in town.

'With an active property market, customers are no doubt looking for good home loan packages,' said HLF president Ian Macdonald. 'Our priority is to cater to their needs with competitive offers and quality service.'

Buyers at The Residences at W Singapore Sentosa Cove will enjoy a home loan interest rate of 0.98 per cent in the first year, 1.58 per cent in the second year, 2.58 per cent in the third year and 3.28 per cent subsequently.

Customers will also be entitled to a one-year a la carte membership offering dining privileges at F&B outlets under the Millennium & Copthorne International group - CDL's hotel unit.

HLF said that competitive rates and efficient services have helped it increase its share of the home loans market. Under its packages, buyers of HDB, private and good-class bungalow properties can choose from variable rates of as low as 1.23 per cent, 1.48 per cent and 1.13 per cent a year respectively, the finance company said.

CDL said on April 5 that it had sold 19 units of The Residences at W Singapore Sentosa Cove at $2,500-3,000 per sq ft. CDL has marketed the project in Singapore and Hong Kong and plans to hold roadshows in Shanghai and Jakarta.

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