Singapore Property | Brokerage firm CGS-CIMB says Amber 45 continues drawing buyers. 65% of the units are nearly sold up. This is a rise from the 55-60% seen in the District 15 development’s launch in mid-may. The property is held under freehold by UOL Group. This was at the release of CGS-CIMB review about the condominium development.
CGS further revealed that the most sought after two bedroom units are ranging from 614 sq ft to 872 sq ft. The high selling 3 bedroom units are between 1,130 sq ft and 1,324 sq ft while 4 bedroom units range between 1,346 and 1,798 sq ft.
Most buyers of these units are Singaporeans. Amber 45 price was sold averagely at about $2,200 psf. The 139-unit Amber 45 development is designed by an ADDP Architect. The development is impressive and has excellent finishing.
CGS-CIMB noted that the development is well though-out and has an efficient layout. Following the healthy Amber 45 up-take rate, UOL is planning to launch The Tre Ver. This will be in the third quarter. It is estimated that The Tre Ver price will launch at an average launch price of about $1,400 psf.
The Tre Ver project is in Potong Pasir. It sits on the site formerly occupied by the Raintree Gardens HUDC development. The Tre Ver is a 99-year leasehold project. Since it was built in the 1980s, the former HUDC development was sold via collective sale. It was bought by United Industrial Corporation and UOL Group in 2016 for $334.2 million. This translated to $797 psf ppr at the time. What will be The Tre Ver price be?
The Tre Ver site has a 2.8 gross plot ratio. It could yield up to 729 units on the expansive 201,405 sq ft site. Both Amber 45 condominium development and The Tre Ver project are expected to be completed before 2021.