Category Archives: Developers

10 units released, 6 sold : Seven Palms Sentosa Cove

Posted on 8 Oct 2009 | Comments Off on 10 units released, 6 sold : Seven Palms Sentosa Cove

Asking average price is about $3,300 psf or about $8.5m per unit

SC Global Developments yesterday said it is releasing about 10 of the total 41 units at its Seven Palms Sentosa Cove condo at an average price of about $3,300 psf. In absolute quantum, prices start at about $8.5 million per unit.

Imagine: Tanjong Beach on one side, a golf course adjacent to it and the South China Sea on the other side

The upscale developer recently held private previews for the first phase and has sold six of the 10 units at an average lumpsum price of about $11 million per residence. Prices of the six units sold range from about $3,100 psf to $3,400 psf.

Standard apartments in Seven Palms range from about 2,700 sq ft to 6,800 sq ft and have three to five bedrooms. Penthouses range from about 4,000 to 8,000 sq ft. The residences are housed in three four-storey high blocks formed around a square coconut grove. ‘A huge open-ended portal connects the coconut grove to the beach for physical and visual access. Under this portal is a luxuriously-appointed beach club, complete with storage for water sports equipment, a glass-walled gymnasium, and plenty of deck areas for lounging, yoga, catered events, or just doing nothing,’ SC Global said in its news release.

It will be developing the project on a 99-year leasehold plot flanked by Tanjong Beach on one side, a golf course adjacent to this and the South China Sea on the other side. Continue reading →

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Posted in Developers, Luxury Property, Property Market / Real Estate, Property Price, Sentosa Property

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M&C to grow Mid-east, North Africa presence

Posted on 8 Oct 2009 | Comments Off on M&C to grow Mid-east, North Africa presence

CITY Developments‘ hotel unit Millennium & Copthorne (M&C) plans to grow its presence in the Middle East and North Africa from 30 properties now to 100 by 2015, says the group’s head in that region.

Reaching out: M&C already manages nine completed projects in the Middle East and North Africa, including the Millennium Airport Hotel Dubai

Ali H Lakhraim, president and CEO of M&C hotels & resorts for the Middle East and North Africa, said achieving the target will make the company one of the region’s largest hotel management players.

M&C is leaving no stone unturned in its quest for expansion. It recently signed contracts to manage three upcoming hotels in Iraq.

‘We are very happy with the growth we have seen over the past six to seven years,’ Mr Lakhraim said. M&C set up its Middle East and North Africa unit in 2002. ‘The hotels we manage will give us a boost to grow even faster as people become more familiar with our name,’ he said.

M&C now manages nine completed projects in the Middle East and North Africa in places such as Dubai and Abu Dhabi in the United Arab Emirates and Doha in Qatar. Occupancy rates for these hotels range from 60-80 per cent on average and room rates can go as high as US$320 a night in Abu Dhabi. Continue reading →

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Posted in Developers, Overseas Property

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