Tag Archives: KHAZANAH NASIONAL

More launches expected in coming months

As it was seen as an inauspicious time to buy property during the seventh lunar month, which fell in August, developers are expected to launch more private residential projects in September and October, according to experts as reported in the media.

These include Keppel Land’s Highline Residences in Tiong Bahru which was previewed in the past two weekends. The guide price for the 500-unit project stands at $2,000 psf.

To attract more customers, Keppel Land is offering concierge services to buyers, such as housekeeping and limousine services, plus membership at a golf club in Bintan.

Another major project slated to be launched is the Marina One Residences (pictured) by M+S, a joint venture between Temasek and Khazanah Nasional. The development is anticipated to be released on 13 September, with indicative prices averaging at $2,600 psf.

ERA Realty’s Key Executive Officer Eugene Lim explained the peak periods for housing sales occur after the Chinese New Year and Hungry Ghost Month. “Most developers will capitalise on this second peak window to clear as many units as they can before this year-end lull,” he added.

Meanwhile, several Executive Condominiums (ECs) are expected to come on stream after a hiatus of nearly one year.

Developers of two EC sites at Punggol’s Anchorvale Crescent and Woodlands Avenue 5 are set to unveil their projects. In fact, construction of the Woodlands Avenue condo has started and online applications will begin by end-September. Prices are expected to fall within $750 to $820 psf.

Additionally, three other ECs in Punggol and Jurong West are scheduled to debut in November. Altogether, these developments will have around 2,900 units.

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.”