Balloting to be conducted for Esparina executive condo

A balloting exercise will be conducted on Friday to allow applicants of the newly-launched Esparina Residences to book their units.

This is because the Sengkang executive condominium (EC) has attracted more than double the number of applications for the units offered.

Over 1,150 people applied for the 573-unit executive condominium, which is the first EC to be launched in over five years.

Frasers Centrepoint Homes, which launched the property on September 30, said almost 75 per cent of the applicants are young professionals aged between 25 and 40 years.

Half of the applicants fall within the S$8,000 to S$10,000 income bracket.

The developer said more than half of the potential buyers are not from the area.

The EC site is close to Buangkok MRT station and has full condominium facilities.

Frasers Centrepoint Homes chief executive officer, Cheang Kok Kheong, said: “Esparina Residences is currently the only executive condominium located just five minutes’ walk from an MRT station.

“Discerning buyers realise its premium location will contribute to an appreciation in its value.”

Source : Channel NewsAsia – 6 Oct 2010

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