06:05 AM Feb 02, 2011

SINGAPORE - Far East Organization's sold 88 of the 132 units of its Waterfront Isle at a preview yesterday.

The units were sold at an average price of $920 per square foot, the developer said, adding that 80 per cent of the Waterfront Isle buyers were Singaporeans and permanent residents, half of whom live in eastern suburbs like Bedok and Tampines.

The 99-year leasehold project will be officially launched this Saturday, with yet another release of units from its entire stock of 561 units.

Prices will begin from $575,000 for a one-bedroom apartment at the Bedok Reservoir property. Rooms range from one-bedroom units starting from 581 sq ft to penthouse units at a maximum of 2,863 sq ft.

Far East is also offering furniture vouchers worth 5 per cent of the purchase price upon the property obtaining its temporary occupancy permit (TOP) in 2015.

The 15-storey Waterfront Isle is the last edition of the Waterfront Collection - a joint venture development between Frasers Centrepoint and Far East.

The Waterfront Collection comprises four properties fronting Bedok Reservoir.

The three other Waterfront projects met with good response, with Waterfront Waves completely sold out, Waterfront Key selling more than 85 per cent of its units and Waterfront Gold selling more than 75 per cent. - Jo-Ann Huang

Source: www.todayonline.com

Published February 2, 2011


88 Waterfront Isle units sold at preview

FAR East Organization and Frasers Centrepoint have sold 88 units in their 561-unit Waterfront Isle development in the Bedok Reservoir area over the last few days.

The developers released 132 units in the 99-year leasehold project at a preview which started on Jan 28. Of these units, 88 units (67 per cent) have been sold at an average price of $920 per square foot (psf).

Waterfront Isle will be officially launched on Feb 5, the third day of Chinese New Year.

Far East Organization, which is marketing the project, said prices will start from $575,000 for a one-bedroom apartment - excluding an additional 5 per cent cost which will be returned to buyers in the form of furniture vouchers once the development obtains its temporary occupation permit (TOP) in 2015.

Including the extra cost for the vouchers, prices at the project will start from $605,000.

Far East said that the furniture vouchers were being given to 'build a stronger base of long-term buyers'.

Waterfront Isle is the last project in the Waterfront Collection, a master-planned joint venture development between Far East and Frasers Centrepoint. The entire collection comprises four developments fronting Bedok Reservoir.

Units in the first three projects in this master-planned development are mostly sold. Waterfront Waves is 100 per cent sold, Waterfront Key is more than 85 per cent sold and Waterfront Gold is more than 75 per cent sold.

Singaporeans and permanent residents make up 80 per cent of the buyers of Waterfront Isle. About half of the buyers are residents now living in the east in estates such as Bedok and Tampines, Far East said.


Source: www.businesstimes.com.sg