An artist's impression of Verdale, a condominium in Bukit Timah jointly developed by China Overseas Land & Investment Limited (COLI) Singapore and CSC Land Group (Singapore). COLI SINGAPORE AND CSC LAND GROUP (SINGAPORE)
HALF of the 78 released units of private residential development Verdale were sold over its launch weekend, in a project jointly developed by China Overseas Land & Investment Ltd (COLI) Singapore and CSC Land Group (Singapore).
Sales were carried out through a pre-balloting procedure where buyers were given a pre-allocated time slot on the launch day of Sept 19 to proceed to the show flat for booking. Sales carried out following the initial launch day were by appointment only.
The developers said that sales momentum was driven by a mix of demand from buyers in the immediate vicinity and other districts who were drawn to the presence of nearby nature parks, as well as the potential and heightened connectivity of the future Beauty World Integrated Transport Hub (ITH).
Interest was also seen from HDB upgraders from the surrounding areas and empty nesters looking to downsize while still being close to their children, with buyers comprising young working professionals, investors, young couples and multi-generational families.
About 95 per cent of the buyers from the first weekend of sales were Singaporeans and permanent residents. Units were sold across unit types from one-bedroom to four-bedroom.
The leasehold development is a five-storey private residential development of seven blocks with 258 apartment units located in District 21. The future development is in close proximity to Bukit Batok Nature Park and Bukit Timah Nature Reserve, as well as key recreational corridors such as the Rail Corridor and the upcoming Coast-to-Coast trail.
As at Sunday, one-bedroom units were selling from S$791,000 to S$878,000, two-bedroom units from S$998,000 to S$1,392,000, three-bedroom units from S$1,557,000 to S$1,811,000, four-bedroom units from S$2,449,000 to S$2,581,000, and the duplex penthouses priced from S$2,625,000 to S$3,341,000.
As pandemic safety measures persist, the developers said that viewings will continue to be conducted through pre-arranged appointments only, with limited time slots to ensure that groups are spaced out in line with the guidelines from the authorities.
The development is jointly marketed by ERA Realty Network, Orange Tee & Tie and PropNex International.
Source: The Business Times