Developers cash in on improved sentiment

IT’S launches galore in the property market, as developers take advantage of improved sentiment to release their residential projects.

Yesterday alone, three developers announced plans for the sale of two residential and one serviced apartment developments.

Silversea, a 383-unit condominium in the East Coast area, will be launched this weekend by Far East Organization, with prices starting from $1,300 per square foot (psf).

This comes a week after the private developer launched part of its 280-unit Vista Residences in the Thomson area. This project has so far sold 130 units at an average of $1,070 psf, out of 182 released to date, Far East said yesterday.

Also coming on board this weekend is Bukit Sembawang Estate’s landed project Luxus Hills located along Ang Mo Kio Avenue 5.

The Singapore-listed developer has already sold 50 of the 78 units in the development.

In the serviced apartment segment, Frasers Hospitality yesterday launched Fraser Place Fusionopolis, a serviced residence in North Buona Vista targeting a clientele of researchers, academics and working professionals.

The 50 loft apartment units, which have a bedroom each, are located on levels 17 to 19 of the Symbiosis Tower.

Source : Today – 9 Jul 2009

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