SALES at City Developments Ltd’s (CDL) Hundred Trees condo in the West Coast area crossed the 200-unit mark by 6pm yesterday.
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| MORE TO COME The developer will release more units to cater to the ‘overwhelming response’ to the West Coast project |
As at that time, CDL had released 280 of the total 396 units in the 956-year leasehold condo, the developer said in a release yesterday evening.
Earlier yesterday afternoon, CDL said that it had released a selected number of units for soft launch at an average price of $895 per square foot (psf).
However, BT understands that the above pricing was for the initial batch of about 150 units released on Thursday for a preview to former owners of Hong Leong Garden Condominium (from whom CDL bought the site for the project), CDL staff and a few special guests.
A further 130 units released yesterday were probably priced slightly higher, market watchers reckoned.
CDL is also offering interest absorption scheme (IAS) in exchange for a 2.5 per cent price premium. CDL did not provide a breakdown on how many buyers picked up their units on IAS.
Although IAS was scrapped on Sept 14, a developer can still offer the scheme if before that date, it had entered into an agreement on this with a partner bank and had already offered units in the development for sale under IAS before Sept 14.
BT understands that Hundred Trees’ 200-unit sales figure as at 6pm yesterday includes nearly 40 units sold on Thursday. All 22 one-bedroom units have been sold and the two-bedders are substantially sold too. Continue reading
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