ST : Several property launches in the offing

Nov 12, 2010

Several property launches in the offing

By Esther Teo

A BRACE of property launches - from one-room units to upscale penthouses - are lined up to hit Singapore's property market over the coming weeks.

Those queueing up with new projects include UOL Group, with its Spottiswoode Residences; Sim Lian Group, with Waterview; and United Engineers (UEL), with a new executive condominium (EC) development.

Launches of CapitaLand's The Nassim and its 1,715-unit condo on the Farrer Court site are also expected by the end of this year.

UOL Group, which staged a preview of its 351-unit Spottiswoode Residences today, has released 100 units comprising a selection of one-, two- and three-bedroom apartments at prices ranging from $1.05 million for a one-bedroom apartment to $2.67 million for a three-bedroom unit.

This works out to between $1,720 and $2,100 per sq ft (psf).

The project consists of mostly one- and two-bedroom units, but there are 25 three-bedders and seven penthouses. The unit sizes for one- to three-bedders vary from 603 sq ft to 1,421 sq ft, while a typical penthouse is 2,530 sq ft, according to UOL.

The freehold plot, which will host a 36-storey tower, is next to Spottiswoode Park and close to Tanjong Pagar, which is slated to be transformed into a new bustling waterfront district once container terminals in the vicinity move out.

UOL Group chief operating officer Liam Wee Sin, who announced that the company may keep some units back for sale at a later date, said: 'Coupled with the redevelopment of the Tanjong Pagar railway station, what we have is an attractive and exciting growth story which is compelling.'

Sim Lian Group is due to launch its VIP preview of the 696-unit Waterview along Tampines Avenue 10 on Tuesday, with the main launch next Friday.

The project is expected to sell at between $850 and $950 psf, with apartment sizes ranging from two-bedroom units of 786 sq ft to penthouses of 4,768 sq ft.

The 99-year leasehold project comprising 12 blocks of 15 storeys will have 56 four-bedroom apartments and 24 penthouses. The rest are two- and three-bedroom units, with half of them coming with an attached study.

The wraps are expected to be taken off UEL's new executive condominium shortly. It will be the third EC in five years.

UEL announced on Wednesday that its 540-unit project, located at the junction of Sengkang East Avenue and Buangkok Drive, is likely to be launched either next month or in January and will have six 18-storey towers.

It follows the launches of ECs Esparina Residences near Buangkok MRT Station and The Canopy at Yishun Avenue 11 earlier this year.

Elsewhere, agents are said to be canvassing interest for Suites at Eunos, Robinson Suites and a Keppel Land project next to Lakeside MRT station.