(1) The Parc at West coast 100% sold

The Parc Condominium at West Coast has been fully sold. The 659-unit freehold residential project is jointly developed by Chip Eng Seng and Lehman Brothers.

The project was sold at an average of upper-$800 psf range with some ‘good units’ touching $1,000 psf.

Built on the former Westpeak condo, the new project has seven 24-storey tower blocks. The previous en bloc sellers who received invitation to purchase the new units responded in drove, contributing to the phenomenal sale performance.

(2) The Rochester fully sold out

Another newly launched project that is fully sold is The Rochester in the one-north precinct. The mixed development project has 366 residential units. Shop space and serviced apartments within the project will not be for sale.

The average transacted price was $1,300 psf, though a unit was sold at $1,600 psf which has since become the benchmark price for District 5 condos.

Earlier this year, nearby One North Residences achieved an average of $900 psf in an equally successful launch.

The Rochester is jointly developed by United Engineers and Jurong Town Corporation.

(3) Scotts Square 50% sold

Wheelock Properties’ Scotts Square on the former Scotts Shopping Centre has been 50% sold in a sale by private placement exercise. In total, 169 or 50% of the 338 units in the project have been sold to invited guests, most of whom are foreigners.

The average price is $3,983 per square foot with a 41st floor studio sold for $4,430 psf.

The selling point of Scotts Square is the project’s excellent Orchard Road snob appeal and its freehold status.

Scotts Square will have two tower blocks of 35 and 43 storeys. Retail space will be from Basement 1 to Level 3.

(4) Balmoral Crescent to be launched soon

Balmoral Crescent which is jointly developed by United Engineers and Kajima Overseas Asia will be launched in October 2007.

Considered a boutique condo, it will have 40 condo units in a 12-storey tower block. The price for the freehold units will be around $2,500 psf.

Next to Garden Hotel and sitting on the former Balmoral View site, the freehold project has a land size of 51,080 sq ft.

(5) Islamic real estate fund bought two Reflection blocks

Al-Nibras, an Islamic Real Estate Fund jointly owned by a Kuwaiti bank and a Malaysian government-own company, has bought two tower blocks at Reflection for about $286 million. Altogether, 56 waterfront units were sold for $2,000-$2,500 per square foot (psf).

The 56 apartments comprise two-bedroom units of an average size of 1,076 sq ft each and a couple of 5,000 sq ft penthouse units.

The 1,129-unit waterfront project has been 50% sold.

(6) Aalto condo on Meyer Road sold mostly to foreigners

Around 30% of Aalto condo on Meyer Road has been sold so far, mostly to overseas investors and former apartment owners of Eastern Mansion who received the right of first refusal to own a new unit on the former en bloc sale site.

Aalto condo will have two 27-storey tower blocks comprising 196 units. The project is priced at around $1,950 per square foot (psf) on average. The units were sold between $1,400 psf and $2,200 psf.

Edited by Sam Gian
(Singapore's Independent Real Estate trainer & consultant)