The Hillier
Over at Hillview Avenue, Far East Organization is said to have collected more than 100 cheques for Soho-style apartments at The Hillier since it began previewing the project last Friday. The buyers for the 99-year leashold project are mostly Singaporeans.
The Nautical
Over at Jalan Sendudok in Sembawang, Hao Yuan Investment, controlled by mainland China parties, is said to have issued options for about 50-plus units for The Nautical condo. The developer is understood to be deciding when to hold an official launch of teh project, which will be accompanied by the start of an advertising campaign.
The average price of about $860psf for the five-storey project, which will have 435 apartments, is after a 5% early-bird discount.
Prices of a typical unit without private enclosed space or roof terrace will be in the $850-880psf range on average.
The Nautical comprises one, two, three and four-bedroom units and penthouses (including 32 dual-key units). Absolute prices start from about $409,000 for a 420sqft one-bedder. The highest-priced unit, at slightly over $1.5 million, is a 1,916sqft penthouse.
Buyers of the 50-plus units are mostly HDB upgraders, comprising predominantly Singaporeans.
CBRE, GPS and PropNex are marketing agents for The Nautical.
The project's development is managed by MCC Land, a unit of Chinese state-owned enterprise Metallurgical Corporation of China or MCC Group. MCC Land is also the developer of Canberra Residences, which is next to The Nautcial. The 320-unit Canberra Residences, which was released in January at an average price of around $830psf, is about 90% sold. Both condo projects are on 99-year sites and are five storeys high.
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