'Overwhelming turnout' at Duo project preview

The public could have a lot fewer units to choose from when Duo Residences is launched following a rush of sales at Thursday's preview.

Agents told The Straits Times that buyers had likely already snapped up over half of the 660 apartments at the 99-year leasehold project.

M+S chief operating officer Kemmy Tan told The Straits Times on Thursday: "The turnout was overwhelming."

However, she said that she could not confirm any figures because sales were still being processed.

Sales were conducted by balloting that began on Thursday afternoon with more due.

Preview sales also began concurrently in Kuala Lumpur on Thursday.

The project is part of the Duo integrated development by M+S, a joint venture between Temasek Holdings and Khazanah Nasional.

It will likely be the largest mixed development in the Bugis and City Hall area when it is completed in 2017.

Prices at Duo Residences on Thursday ranged from around $1,500 per sq ft (psf) to slightly above $2,300 psf, but most units went for between $1,700 psf and $2,000 psf, according to agents who spoke to The Straits Times.

Market talk had it that more than 1,000 cheques had been submitted in the first phase of sales.

Consultants had expected the project near Kampong Glam to be priced above $2,000 psf on average, given its location and the fact that it is part of an integrated development.

Apart from the 49-storey Duo Residences residential block, the integrated development also includes Duo Tower - a 39-storey commercial and hotel complex.

It will have a retail gallery on the ground podium called Duo Galleria, which will come with a basement carpark.

The entire project, which has a gross floor area of 1.73 million square feet, has been designed by world-renowned architect Ole Scheeren, who also drew up The Interlace condominium.

The project will be managed by CapitaLand and UEM Land Holdings.

Construction is expected to start later this year.

melissat@sph.com.sg

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