Upmarket condos set for launches

Slew of high-end projects expected in the coming months

SUBURBAN condos have been driving sales in recent weeks but upmarket homes are poised to take centre stage with a series of launches coming up.

Wing Tai's The Crest off Alexandra Road and near the exclusive area of Jervois Road is expected to be launched soon.

Keppel Land's 99-year leasehold The Highline Residences in Kim Tian Road on the fringes of the city is also poised to go and is tipped to be popular.

The project is expected to have 500 units. Marketing agents expect a selling price of between $1,700 per sq ft (psf) and $1,900 psf with expatriates and professionals seen as the target market, given the development's choice Tiong Bahru location.

While an exact date was not given, a Keppel Land spokesman said: "We are planning our sales launch."

Another city area project is the mixed development City Gate in Beach Road, which is being jointly developed by World Class Land and Fragrance Group. It is on the site of the former commercial development Keypoint.

The 3.67 million sq ft Marina One, jointly developed by Temasek Holdings and its Malaysian counterpart Khazanah Nasional, will be another highly anticipated launch.

The 1,042-unit project in Marina Bay is expected to go on sale in the next few months.

Knight Frank research head Alice Tan said most condos will likely launch only after the middle of next month, after the school holidays.

Mr Desmond Sim, research head at CBRE, agreed that the June holidays "play a small role" as developers want launches to reach as many people as possible.

City Gate may launch sooner with some agents expecting it to hold a preview by the end of this month with a release in July.

CBRE's Mr Sim said buyers should not expect other projects to follow suit as developers would not want to "cannibalise" each other. "Some projects are prepared to launch... but there is no point in challenging for the same slice of the demand pie," he said.

Mr Nicholas Mak, research head at SLP International, noted that last month's suburban projects were launched earlier to avoid competing with the executive condos slated to enter the market between August and December.

The upcoming projects will not have the same problem as they are not in the same price bracket.

Source: Straits Times

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Upmarket condos set for launches

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