Tripartite Developers, a joint venture (JV) company between City Developments, Hong Leong Group and TID, are expected to start marketing its Hedges Park condominium project along Upper Changi Road later this week.
According to market analysts, the average price of units at the 99-year leasehold project is estimated to be within S$850 psf to S$900 psf.
Hong Leong has developed seven large condo projects on a large tract of land which it acquired in the 1970s. The projects include Azalea, Ballota, Carissa, Dahlia, Edelweiss, Ferraria Park and The Gale condos.
The Hedges, however, will not be built in this area. Instead, Tripartite will be developing the 501-unit, eight-storey project on a site acquired at a state tender in April last year.
The Hedges comprises one- to four-bedroom units and penthouses. The one-bedders will have a size of 484 sq ft, while its ground-floor units, which each feature a private enclosed space, are larger at 570 sq ft.
Two-bedroom units start from 764 sq ft and three-bedroom units from 1,000 sq ft, while four bedders are 1,345 sq ft, though a four-bedder with a private enclosed space is 1,538 sq ft.
Meanwhile, the Urban Redevelopment Authority (URA) is set to launch another 99-year leasehold condo plot next to Ferraria Park for tender under the confirmed list later this month.
Source : PropertyGuru – 13 Apr 2011