Tag Archives: Leonie Hill

Far East launches condo with Ferrari design

Posted on 2 May 2013 | Comments Off on Far East launches condo with Ferrari design

Property developer Far East Organization yesterday launched a new ultra-luxury condominium development under its Inessence brand, releasing 30 of the 104 available units with prices starting from S$2.3 million.


Located at 1 Leonie Hill, Ferra is the first residential project in Asia to be conceptualised by Italian designer Paolo Pininfarina. It features a facade that closely resembles the signature supercars that he created. For instance, the balconies are designed to resemble the perforations in a Ferrari’s grilles.

“One of the trademarks of homes under our Inessence brand, is the signature design. Pininfarina’s unique design experience with luxury cars, products and interiors is brought to the fore in Ferra, with elements of the elegant silhouettes found in his designs integrated into a residential building,” said Chia Boon Kuah, Chief Operating Officer for Property Sales at Far East.

The 22-storey development is within proximity to Orchard Road and a short drive from prime areas such as the CBD and Marina Bay Sands.

“Ferra, like all our Inessence residences, fulfils the four brand attributes with Pininfarina’s exclusive design, the desirable District 9 address, configurable living space, and thoughtful design and services for home buyers. We believe that Ferra offers a strong proposition that will appeal to our target market,” added Chia.

Inessence was launched in 2010. Other projects under the brand include Boulevard Vue, Skyline@Orchard Boulevard and Alba.

Source : PropertyGury – 2 May 2013

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City Dev buys partner’s half-share in Futura JV

Posted on 23 Sep 2009 | Comments Off on City Dev buys partner’s half-share in Futura JV

Elad Group’s stake in Leonie Hill condo firm amounts to $35.1 million

CITY Developments Ltd (CDL) has bought partner Elad Group’s half-share in their equal joint-venture company that owns the Futura condo site at Leonie Hill in Singapore, for about $35.1 million.

Futura: City Dev and Elad paid $287.3 million for the freehold residential property in October 2006

The two bought the freehold residential property for $287.3 million in October 2006 at $1,179 per square foot per plot ratio.

The cash consideration for the half-share, which was arrived at on a willing buyer, willing seller basis, represents a discounted value of the aggregate capital contributions of Elad Group Singapore to the joint-venture company, K-El Sun Investments, CDL said in a statutory filing with Singapore Exchange yesterday evening.

‘Elad remains our partner in the South Beach consortium,’ a CDL spokeswoman said in response to BT’s queries on the status of the group’s other joint venture involving US-based Elad Group, which is owned by Israeli billionaire Yitzhak Tshuva.

In December last year, BT reported that Elad was said to be looking for buyers for its one-third stake in the South Beach project as well as its half-share in Futura.

CDL teamed up with Elad and Dubai World to clinch the plum South Beach site opposite Raffles Hotel at a state tender in 2007 during the property bull run for almost $1.69 billion.

The three hold equal shares in the joint venture.

In November last year, CDL announced a deferment of the project’s construction until construction costs ease. The project was originally slated for completion by 2012, although the consortium has up to 2016 to complete the development under the sales terms for the 99-year leasehold plot. Continue reading →

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

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