195 units of Clementi Canopy sold in first weekend

The Clementi Canopy, a new condominium project in Clementi Avenue 1, has sold 195 units (38.6 per cent) of the 505-unit development during its first weekend launch.

Some 250 units were released over the recent weekend, according to property developer UOL Group.

Anthony Wong, general manager for marketing at UOL, said: “Out of the 250 units released on the first weekend launch of The Clement Canopy, we saw a strong take-up of 195 units (about 78 per cent).”

He added that there was healthy interest across all the unit types, believed to be due to “pent-up demand in the vicinity” and “reasonable pricing even for units on the high floors of our 40-storey development”.

Given the positive response, UOL will be extending its early bird discounts for another weekend.

The discounts include S$6,000 for 2-bedroom units, S$8,000 for 3-bedroom units and S$12,000 for 4-bedroom units.

A 2-bedroom unit (which spans 635 – 657 sq ft) is selling for between S$850,000 and S$1.1 million, according to The Clementi Canopy’s website.

A 3-bedroom unit (990 – 1,163 sq ft) goes for between S$1.28 million and S$1.4 million, while a 4-bedroom unit sells from S$1.62 million to S$1.82 million.

The Clementi Canopy is comprised of two blocks of 40-storey apartments with 2-, 3- and 4-bedroom units.

It is located near Dover Road and Commonwealth Avenue West, and opposite the International Community School.

As part of Government Land Sales in the first quarter of 2016, UOL Venture Investments and SingLand Homes won the top bid of S$302.1 million to develop the residential site.

This reportedly translates into S$615 per sq ft per plot ratio, and a breakeven price of about S$1,100 per sq ft.
– See more at: http://news.asiaone.com/news/business/195-units-clementi-canopy-sold-first-weekend#sthash.bJ7UPo7o.dpuf

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