Flurry of property launches

Flurry of property launches

The pace of property launches has picked up in the past week as developers seek to tap a resurgence in market activity following the January cooling measures and last month's Chinese New Year.

The latest are City Developments' (CDL) 912-unit condominium D'Nest in Pasir Ris and Far East Organisation's mixed use commercial property SBF Center in Tanjong Pagar.

D'Nest, near Pasir Ris MRT station, will be open to potential buyers for preview on Friday.

The showflat is already open.

SBF Center, with 196 office units, three full-floor offices and 48 medical suites, will be launched on Thursday.

CDL told The Straits Times it intended to launch units at D'Nest for $990 psf on average.

But units will be priced at an early bird price of $920 psf after a 7 per cent direct discount, given that some buyers may need to pay additional buyer's stamp duty, it said.

Prices at the launch will range from $498,000 for a 484 sq ft one-bedder, or $1,029 psf, to $1.15 million for a 1,270 sq ft four-bedder, or $906 psf. The 99-year leasehold project is expected to get its temporary occupation permit (TOP) in 2017.

D'Nest is CDL's fourth development in Pasir Ris Grove. It still has space left at its land plot there for a fifth.

CDL group general manager Chia Ngiang Hong said CDL aims to transform Pasir Ris Grove into an "exclusive residential enclave", beginning with the launch of the 724-unit Livia in 2008.

Its other projects there are the 642-unit NV Residences, which is fully sold after its launch in 2010, and the 892-unit The Palette, which was launched in 2011 and is 99 per cent sold.

Far East's 31-storey SBF Center in Robinson Road will have the Singapore Business Federation (SBF) as a major tenant.

The project consists of 196 office units ranging from 592 to 1,475 sq ft, three large full-floor 10,850 sq ft offices and 48 medical suites between 678 and 1,302 sq ft.

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