Approximately 77%, of 216 units, of the 280 units at Sengkang Grand Residences which launched last week were sold out within the weekend.
Sengkang Grand Residences sales positive with 77% sold over the weekend
Sengkang Grand Residences is a 9-block, 680-unit private condominium development located in Sengkang Central. This new addition to district 19 is part of the first integrated community and lifestyle hub in the North-eastern region of the country. The project will consist of residential apartments, a retail mall, a hawker centre, a childcare centre, a community club and a community plaza and also a bus interchange. The retail mall, Sengkang Grand Mall, will span 160,000 sq ft over 3 floors.
This new integrated development is a joint venture between CapitaLand and City Developments (CDL). They acquired the site for $777.8 million last August. At 3.7 hectares, the site is the largest commercial and residential site awarded since 2015.
Location and amenities of new development attractive to buyers
The proximity of the development to the Buangkok MRT station, bus interchange and amenities such as the community club and retail mall may be reasons home buyers and investors alike are drawn to the project.
Units at Sengkang Grand Residences were sold at an average price of $1,700 psf. 93% of the buyers were Singaporeans, with permanent residents and foreign buyers from countries such as China, Malaysia, India and the Philippines making up the rest of the 7%.
Prices of units at the 99-year leasehold property started from $798,000 for a one-bedder plus study unit which is about 474 sq ft. Prices of 2-bedder, 3-bedder and 4-bedder “premium plus flexi” units were 998,000, $1.5 million and $2.1 million respectively. The 4-bedroom units are sized at 1,324 sq ft.
The developers are pleased with the response as it shows that buyers are enticed by the possibility of integrated development in the heartlands, in particular in a district which is becoming increasingly populated.