District 9 luxury freehold project St Thomas Suites, that Frasers Centrepoint Homes is launching this weekend, will have two 33-storey towers and most of the units are large — ranging from 1,800 to 2,600 sq ft.
There are also two penthouses measuring 7,000 sq ft, both of which have already been taken up by Singaporean buyers.
Even before the public launch of the project, demand from existing clients and associates for units there has been strong said Mr Cheong Kok Kheong, development and property general manager of Frasers Centrepoint.
As of Wednesday, 45 units of the total of 176 had already been sold, he said. Units at the environmentally-friendly development — the condo was designed to accommodate an existing 100-year old Banyan Tree — are priced between $1,700 and $2,100 per square foot (psf).
Payment schemes available include Progressive Payment and Deferred Payment.
One of the unique features of the development is that none of the units share common boundary walls, affording residents the sort of privacy not available in other condominiums.
The curvilinear design theme with floor-to-ceiling glass windows creates futuristic feel, which is offset by larger than normal landscaped gardens. About 78 per cent of the 140,272 square feet site is used for landscaping.
St Thomas comes with all the luxury condo facilities such as an infinity luxury edge pool, clubhouse function room with outdoor spa, a cigar room and foot reflexology areas. All units have their own lift lobbies and unlike most condos, there are only three units on a floor. The expected temporary occupation permit is Dec 31, 2010.
Frasers Centrepoint plans to launch another condominium development on Sinaran Drive, near Novena MRT station, by June this year as it looks ahead to an upbeat property market, said Mr Cheang. The company is on the lookout for collective sale sites to build up its land bank.
St Thomas is among a slew of new projects being launched in the prime Orchard Road area, all of which are being snapped up fast. At the 97-unit Cairnhill Residences, which was soft-launched about a month ago, about half the units have been sold so far at prices ranging from $1,750 to $1,870 psf.
One of the two towers of the project comprising 57 units of two- and three-bedroom flats was released for sale during private road shows in Hong Kong and Jakarta a month ago. More than 80 per cent of these units have reportedly been sold.
The second tower will be released for sale this weekend and the developers Allgreen Properties have said they might consider raising prices by some 3 to 5 per cent, depending on demand.
Source: Weekend Today, 27 January 2007