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

Published October 9, 2010
By UMA SHANKARI

344 units sold in Esparina Residences EC

By UMA SHANKARI


A TOTAL of 344 units were sold in Frasers Centrepoint's 573-unit Sengkang executive condominium (EC), Esparina Residences, as of 6pm yesterday.


The developer had received 1,155 applicants for the project since it was launched on Sept 30. Eligible applicants with a ballot number had priority to enter the showflat for the balloting and booking of units yesterday.

But only 344 units were sold. Because of the balloting process, some potential buyers could have decided not to purchase a unit at all if their preferred unit had been sold. In particular, three-bedroom units, penthouses and dual-key units (which are units that can be divided into two separate apartments with different entrances) proved to be popular, Frasers Centrepoint said.

Prices at Esparina Residences range from $590,000 to $723,000 for a two-bedder; $697,000 to $981,000 for a three-bedder; and $1 million to $1.18 million for a four-bedroom unit. Penthouses are priced at between $864,000 and $1.3 million. On a per square foot (psf) basis, unit prices range from $730 to $750 psf on average.

Esparina Residences is the first EC project to be offered to homebuyers since end-2004.

ECs are a hybrid of public and private housing. New EC units are sold with eligibility, ownership and resale restrictions similar to those for public housing, but these restrictions cease to apply after 10 years.

Another EC project, MCC Land's 406-unit The Canopy in Yishun, previews this weekend. MCC Land has priced the units at an average of $600 to $700 psf. Unit sizes at the 99-year leasehold project range from 872 sq ft to 1,410 sq ft in two, three and four-bedroom configurations. There will also be 22 penthouses of between 2,088 and 2,239 sq ft

Source: http://www.businesstimes.com.sg

05:55 AM Oct 01, 2010

Frasers Centrepoint Homes is launching its Esparina Residences executive condominium project next Friday. The 99-year leasehold property in Compassvale Bow is a short walk from the Buangkok MRT Station. It consists of 573 units, ranging from 829 sq ft for a two-bedroom unit to 2,583 sq feet for a four-bedroom penthouse.

Prices range from $590,000 to $723,000 for a two-bedroom unit; $697,000 to $981,000 for a three-bedroom unit; and $1.005 million to $1.181 million for a four-bedroom unit. Prices for penthouses range from $864,000 to $1.3 million. The temporary occupancy permit is expected in the first quarter of 2014.

The showflat, located along Compassvale Bow, is open for public viewing from now to Oct 5 from 11am to 7pm. During this period, no booking or purchasing is allowed. On Oct 8, successful applicants will have priority to enter the showflat for balloting and booking


Source: http://www.todayonline.com

Published October 1, 2010

FRASERS Centrepoint and Far East Organization have jointly put in the top bid of $151.4 million, or $335 per square foot per plot ratio (psf ppr) for a residential site at Pasir Ris.


Just four bids were received for the 99-year leasehold site at the junction of Pasir Ris Drive 3 and Pasir Ris Drive 4 at close of the state tender yesterday.

Frasers Centrepoint and Far East plan to build a project with 400-450 units through a 50:50 joint venture if the site is awarded to them. The project, which will be completed in about five years, will target HDB upgraders in the east and the vicinity.

The offer by the two developers was 8 per cent above the second-highest offer of $140.7 million or $311 psf ppr from Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

The two other bids came from Allgreen Properties ($131.9 million or $292 psf ppr) and Meadows Investment ($106 million or $234 psf ppr).

The tender result mirrors that for an executive condominium site at Punggol which closed on Sept 23 and drew just four bids.

Since the government introduced new measures to cool the property market on Aug 30, developers have been increasingly cautious with land tender bids, said Nicholas Mak, executive director of SLP International Property Consultants.

He also noted that in the current second half-year, no Reserve List site has been triggered for tender as the government is pushing out a large supply of land under the Confirmed List.

The top bid of $335 psf ppr for the Pasir Ris site translates to a breakeven cost of $650-$680 psf, said Li Hiaw Ho, executive director of CBRE Research. He expects that units in the new residential project could sell for about $800 psf.

CBRE's data shows that private homes nearby have been selling for around that price.

Around 350 units at the nearby NV Residences have reportedly been sold at an average price of $835 psf in the past month. And units at Livia, adjacent to NV Residences, went for between $720 psf and $840 psf between July and September. Over at Elias Road, units at Oasis@Elias sold at between $650 psf and $740 psf in the same period.

Separately, the Urban Redevelopment Authority yesterday released detailed sale conditions for an industrial site at Woodlands Avenue 12.

Developers interested in purchasing the site can now apply to URA for it to be put up for tender.

The 60-year leasehold parcel - the first of four new sites to be released for sale under the Reserve List of the government's H2 2010 industrial land sales programme - covers about 2.1 ha and has a gross plot ratio of 2.5.


Source: http://www.businesstimes.com.sg