Echelon now more than 75% sold

Echelon, the highly anticipated residential development by City Developments Limited (CDL) and its joint venture partners Hong Leong Holdings Limited and Hong Realty (Private) Limited, continued with its strong sales when the project was officially launched over the first weekend of the New Year – 2013. Over 200 units were snapped up when the project previewed on 28 December 2012. As at Sunday, 6 January 2013, 390 units at Echelon, accounting for over 75% of the 508-unit condominium development, have been sold.

Buyers have been thronging the show suites and the strong demand is reflective of Echelon’s appeal – particularly its premium location. Centrally positioned at the fringe of the city and at the edge of the much sought-after Tanglin residential enclave, Echelon at Alexandra View is a stone’s throw to the Redhill MRT Station – all of which are key draws for savvy buyers and investors.

To date, Singaporeans made up 80% of buyers while the remaining 20% were Permanent Residents and foreigners mainly from Malaysia, Indonesia, China, Australia, India, USA and Hong Kong. There was a good take-up rate for the range of apartment sizes, which comprises one to four bedrooms and loft units.

The early bird selling price was at an average of S$1,700 per square foot with marginal increases of 2% to 4% for subsequent releases.

Designed by award-winning architectural firm SCDA Architects Pte Ltd, Echelon has two soaring 43- storey towers with voluminous sky terraces, offering homeowners an impressive view of the neighbouring Alexandra precinct. Select units will also enjoy dramatic views toward Orchard Road and Marina Bay.

Mr Chia Ngiang Hong, CDL’s Group General Manager, said, “Echelon’s impressive showing reinforces the development’s attractiveness in terms of its location, value, architectural excellence, quality and potential appreciation. The overwhelming response is an endorsement by buyers that Echelon is a distinctive project with all the right ingredients that commands its demand and premium.”

Echelon is nestled within three well-developed and popular neighbourhoods – Queenstown, Redhill and Tiong Bahru – which collectively provide a wide range of business, education, leisure and dining amenities. It is also expected to yield good rental potential with a sizeable pool of expats working in the nearby business parks such as One North and Mapletree Business City; with those working in the Central Business District also increasingly opting for housing options in the city fringe area.

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