Waterfront Isle units sold for about S$920 psf

Far East Organization’s latest property, Waterfront Isle, sold 88 of its 132 units launched at a preview on Tuesday.

The units were sold at an average price of S$920 per square foot.

The 99-year leasehold development will be officially launched on February 5, with the company releasing another block of units from its entire stock of 561 units.

Far East did not disclose how many more units will be released for sale at the official launch.

However, prices will start from S$575,000 for a one-bedroom apartment at the Bedok Reservoir property.

Rooms range from one-bedroom units, starting from 581 square feet, to penthouse units with a maximum area of 2,863 square feet.

Far East is also offering furniture vouchers worth 5 per cent of the purchase price upon the property obtaining its temporary occupancy permit (TOP) in 2015.

The 15-storey Waterfront Isle is the last edition of the Waterfront Collection – a joint venture development between Frasers Centrepoint and Far East Organization.

The Waterfront Collection comprises four properties fronting Bedok Reservoir.

The three other Waterfront projects met with good response, with Waterfront Waves selling out completely, Waterfront Key selling over 85 per cent of its units and Waterfront Gold selling more than 75 per cent of its units.

Far East said 80 per cent of Waterfront Isle buyers are Singaporeans and permanent residents, half of which are living in Eastern suburbs like Bedok and Tampines.

Waterfront Isle is poised to ride on the proposed plan to transform Bedok Reservoir and the adjacent Bedok Town Park into a green living and leisure hub.

The Bedok Reservoir MRT station on the Downtown Line, which is slated to open by 2017, will be a short walking distance from Waterfront Isle.

Source : Channel NewsAsia – 1 Feb 2011

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