City Dev sells over 85% of launched Tree House units

Property developer City Developments said it sold over 85 per cent of the 350 units launched at its latest development, Tree House, during a private preview on Thursday.

Tree House is a 99-year leasehold condominium located within the Upper Bukit Timah and Chestnut Avenue private residential estate.

The development comprises four towers of 24-storey apartments with 429 units.

CDL said units from two to four bedrooms, including penthouses, were taken up at the event on Thursday.

The apartments are priced at about S$800 per square foot on average.

And those released for sale on Thursday ranged from S$640,000 for two-bedroom units to about S$2.4 million for the five-bedroom penthouses.

CDL said 80 per cent of the buyers are Singaporeans.

It added that it will launch the remaining units progressively this weekend.

CDL’s Group General Manager Chia Ngiang Hong said the group tendered for the land site last year because it saw potential for an eco-inspired residential development in the tranquil estate.

He added that Tree House appeals to buyers who are looking for value for money and high investment potential.

Source : Channel NewsAsia – 23 Apr 2010

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