Aalto: Hong Leong launches luxury East Coast homes

Hong Leong Holdings, the privately-held property arm of conglomerate Hong Leong Group, has officially launched Aalto, a luxury residential development at Meyer Road.

The freehold development sits on a 12,500-sq-m site and comprises two 27-storey blocks. It boasts unblocked views of the sea from the apartments, all of which are served by private lifts.

About 60 per cent of the 196 units have been sold since a soft launch last September. The remaining units – on the middle to upper floors – are priced at $1,800 to $1,900 psf.

The units on the lower floors sold earlier were priced at an average $1,500 psf, according to data posted on the Urban Redevelopment Authority’s website. Two penthouse units sold in November topped $2,500 psf.

Foreigners bought about half of the units sold so far, according to Hong Leong Holdings.

For the other units snapped up by Singaporeans, Housing & Development Board upgraders made up about 5 per cent of the purchases, the developer said.

Expected to be completed by Nov 2012, Aalto is close to attractions such as the Kallang Leisure Park and East Coast Park.

Source : Weekend Today – 5 Jan 2008

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