Tag Archives: Fragrance Group

High-end projects to launch soon

While suburban condos have been fuelling sales in recent weeks, upmarket condos are expected to take the limelight with the upcoming launch of a handful of such projects, said media reports.

Among them are Wing Tai’s The Crest located near Jervois Road and Keppel Land’s The Highline Residences in Kim Tiam Road.

Keppel Land’s 99-year leasehold condo project is expected to have 500 units, with prices will likely range between $1,700 psf and $1,900 psf. The development targets professionals and expatriates, given its location in Tiong Bahru.

Also expected to go on sale are mixed development City Gate in Beach Road, which is jointly developed by World Class Land and Fragrance Group, and the 3.67 million sq ft Marina One jointly developed by Temasek Holdings and Khazanah Nasional.

Alice Tan, Research Head at Knight Frank, expects most condos to launch after the school holidays, perhaps in the middle of July.

City Gate is expected to launch sooner as it may hold a preview by end-June with a release next month.

CBRE’s Research Head Desmond Sim noted that buyers should not expect other developers to do the same as they would not want to “cannibalise” each other.

He added, “Some projects are prepared to launch… but there is no point in challenging for the same slice of the demand pie.”

Buyers snap up 44 units at Novena Regency

Novena Regency, a new mixed-use development along Thomson Road has sold 44 residential and retail units within a week of its launch on 13 April, reported The Straits Times. Developed by Fragrance Realty, 72 units were released initially.

The city fringe location and freehold tenure are considered key selling points of the property, which will be sited on the current Novena Ville plot.

“We are fairly confident that buyers will be attracted to its location – an exclusive private estate enclave within the Novena vicinity,” said Koh Wee Meng, Executive Chairman and Chief Executive of Fragrance Group.

The development comprises 55 residential units priced from S$2,300 psf and 45 shop units that start from S$7,000 psf. The residential units include 43 apartments (one- to three-bedroom units) and 12 penthouses (two- to four-bedroom units).

The strong interest follows record-breaking new home sales last month which saw 2,793 units sold, attributed to discounts and promotions offered by developers.

Mary Sai, a marketing agent for Novena Regency, said buyers prefer self-contained neighbourhoods with easy access to shopping and township facilities, public transport and other amenities.

Sai, who is also Executive Director for Knight Frank, noted that business owners will be attracted to Novena Regency for its high visibility since the property faces the main road.

Moreover, human traffic within the area is considered “heavy” due to its proximity to the Inland Revenue Authority of Singapore building and Novena Church.

The project is expected to TOP in August 2017.

Source : PropertyGuru – 23 Apr 2013