Riverbank @ Fernvale is one of two private residential developments in Sengkang that will be launched for sale this month.
Its developer, UOL, said units will be priced at an average of “slightly above S$1,000 per square foot”.
The 99-year leasehold project comprises 555 apartments — 488 of them are one-, two- and three-bedroom units.
The selling price of a one-bedroom unit will start from S$480,000, while the larger five-bedroom apartment will cost some S$1.3 million.
Two-bedroom unit prices are from S$660,000; three-bedroom from S$880,000 and four-bedroom from S$1.06 million.
UOL expects the project to appeal to buyers who are upgrading from public housing flats.
But it added that investors may be keen on the smaller units.
The development is located near the Seletar Aerospace Park, and future business and industrial hubs in Sengkang.
Property analysts said Riverbank may face some competition for buyers from an adjacent project.
Frasers Centrepoint is set to roll out Rivertrees Residences later this month.
The Riverbank showflat will be opened for public viewing on Thursday, with booking of units starting from February 14.
The project is expected to be completed in 2018.
Source : Channel NewsAsia – 6 Feb 2014