City Developments (CDL) tycoon Kwek Leng Beng’s family has bought two units at luxury condo Boulevard 88 for about S$14.1 million.
Mr Kwek’s nephew, Kwek Eik Sheng, who is group chief strategy officer at CDL, bought a ninth-storey unit for S$4.34 million.
The CDL boss’ spouse and son also purchased a unit on the 18th floor for S$9.8 million, according to SGX filings on Monday night.
The freehold development in prime District 10 sold 20 units at an average selling price of S$3,550 per square foot, out of the 25 units released to date, CDL had said in March.
Directly accessible through Orchard Boulevard and Cuscaden Road, the 154-unit development is within walking distance to the Orchard Road shopping and entertainment belt, Orchard MRT station and the future Orchard Boulevard Station on the Thomson-East Coast Line.
Prices start from S$4.4 million for a two-bedroom unit plus study, S$6 million for a three-bedroom unit, and S$9.6 million for a four-bedroom unit. The development offers four penthouses priced at S$30 million to S$32 million. Unit sizes range from 1,313 sq ft for a two-bedroom plus study to 6,049 sq ft for the largest penthouse.