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Enticing showflats attract more buyers, say experts

Posted on 27 Jul 2012 | Comments Off

Developers are aware that aside from a good location, an attractive showflat can also lure buyers into acquiring a property.

“Generally, the showflat is the primary marketing tool for developers to promote their new condominium,” said Elson Poo, General Manager of Marketing and Sales at Frasers Centrepoint Homes.

Albert Foo, General Manager of Marketing at Keppel Land, said: “Showflats are modelled closely after actual units.”

“The interior design styling, fittings and finishes also mirror the actual product. There are clear indications where modifications have been made to the showflat or when a particular product is not included in the purchase,” added Foo.

According to Joyce Sng, Assistant General Manager of product development at UOL Group, building showflats within the development site provides buyers with a clearer picture of the actual property as well as attributes of its surroundings.

Developers usually hire interior designers to carry out their design plans for the showflat and one or more firms can be involved depending on the number of showflats needed.

Sng said that in order to meet the needs and aspirations of customers, “we select interior designers based on the target customer segment”.

“To nail the interior design that exudes the lifestyle we envisage, communication with the designer is key. Once the interior designer understands our product positioning, we usually give him the free hand to unleash his creativity,” she added.

Developers and interior designers do no usually disclose the cost of showflats. As a general guide a two-bedder costs around S$90,000 to S$120,000 while a four-bedroom apartment showflat can range from S$120,000 to over S$400,000.

For some projects, developers have even created an outdoor setting to attract potential buyers, just like Frasers Centrepoint Homes’ Soleil@Sinaran showflat which comes with a spa pavilion complete with aromatherapy oils and massage beds to make it more realistic.

Source : PropertyGuru – 27 Jul 2012

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Posted in Developers, General

Tagged Frasers Centrepoint, Keppel Land, showflat, UOL Group

Keppel Land achieves strong profit growth

Posted on 19 Jul 2012 | Comments Off

Keppel Land almost doubled its net profit in the second quarter at S$94.7 million. That is 87.5 per cent higher for the three months ended June 30 compared to the previous year.

More property sales also lifted its net profit in the first half of this year, up 76.8 per cent to S$236.6 million.

Sales of homes in China doubled in the second quarter this year to 490 units.

In the first half of this year, Keppel Land sold more than 1,000 new homes – mainly in Singapore and China.

This raised net profit for its property trading segment by 182 per cent to S$199 million in the first half of 2012.

Despite the good sales, Keppel Land does not see Keppel Bay Plot 3, housing 370 units near the completed Reflections at Keppel Bay, being launched in 2012.

Kevin Wong, group CEO, Keppel Land, said: “For Plot 3 we are doing our design and in fact, constructing our show gallery. As to the timing of the launch, we have to watch the market. Of course today is not the best time, but we will monitor the market.”

Keppel Land’s higher net profit is also due to the bigger contribution from its property investment segment.

Net profit from property investment increased 38.8 per cent from the same period last year to S$38.6 million in the first half of the year.

This, after K-REIT acquired 87.5 per cent stake in Ocean Financial Towers in December.

Keppel land said the Singapore office sector remains resilient as the market saw good leasing demand in the first half of 2012. New tenants at the Marina Bay Financial Centre Tower 3 were also secured, bringing its commitment rate to 70 per cent.

Source : Channel NewsAsia – 18 Jul 2012