Completed early last year, the RiverGate development in the Robertson Quay area, where some units enjoy spectacular views of the Singapore River, has seen transaction prices scale $2,000 psf since July. However, they are nowhere near the record high of $2,701 psf achieved in May 2007, when a 3,143 sq ft unit was sold for $8.49 million. When the project was launched in early 2005, average prices were only...
Rivergate
Savvy property investors have been rushing to get a unit at The Regency at Tiong Bahru after the condominium received its temporary occupation permit (TOP) in April, pushing the price to a new high of $1,493 psf. The fully sold 158-unit freehold development, which is UOL Group’s third project in the Tiong Bahru area, was officially launched in 2006 at an average price of more than $800 psf. Demand for...
There was a significant jump in the number of secondary market transactions at projects near the CBD earlier this month. In the Thomson area, at Sky@eleven, three units were sold in the first week of June for between $1,140 psf and $1,200 psf. The most recent transaction was a 1,851 sq ft unit on the 24th floor, which changed hands at $2.2 million or $1,200 psf. The seller had purchased the unit from the...
TIMING can decide whether the deferred payment scheme (DPS) helps or hurts private home developers, as shown by updates provided this week on two projects. On Friday, Keppel Land revealed that it had yet to receive full payment for about a-third of Suites @ Central, a 157-unit freehold condominium on Devonshire Road that obtained its Temporary Occupation Permit (TOP) earlier this year. In particular,...
Property developer CapitaLand has collected payment for 98 per cent of the 542 units of RiverGate apartments which have been sold since it obtained the Temporary Occupation Permit in March 2009. CapitaLand said the progress payments and deferred payment receivables for the sold units were securitised through special purpose vehicle Okeanos Investment Corporation. Okeanos issued US$477 million (S$731...
RiverGate, located along the Singapore River, is a unique freehold residential development with a total of 545 units. It is the first residential project in Singapore to be accorded landmark status by the Urban Redevelopment Authority (URA). URA accords ‘landmark’ status only to buildings that are strategically located, such as along the Singapore River, and that have demonstrated cutting-edge...