Artra, a development in Alexandra View with 400 units will be soft launched on 15 April. It will be the second mixed-use development to be launched in the city fringe this year after Paya Lebar Quarter’s Park Place Residences that was launched in March.
Knight Frank, a joint marketer of the project with PropNex Realty and Savills said that Artra Showflat units can be viewed along Prince Phillip Avenue by potential homebuyers as they express their interest before the official sales begin on April 29.
Artra, which is on a 99-year leasehold sits on a site of 442,970 sq ft. It has 3 to 5 bedrooms units of 786 sq ft to 2,583 sq ft. It is a development by FEC Skyline, which is a joint venture of New World Development and Far East Consortium.
The average Artra price of the project is from $1,600 to $1,700 psf. The price of a unit of 2 bedrooms plus study starts from just above $1.1m.
Other than having full condominium facilities, the project will have F&B outlets, retail shops and a childcare centre. Amenities that are near the development include schools, transport nodes, shopping centers and a sports complex. Residents can directly access Redhill MRT station.
The expected date of completion for Artra is in 2020.
In the meantime, the analysis of Knight Frank’s URA Realis caveats indicates that there were 2,943 units sales of new privates homes that are non-landed in 2017 quarter one. This is a rise of 46% from the 1,595 units that were sold in a similar period in 2016.
(Artist's impression of Artra)
“With the formal launch of Seaside Residences set for next weekend and for Artra, the weekend after that, their reaction will be greatly anticipated to guide on the next happenings and on whether the market is recovering,” said Knight Frank.
The analysis noted that the Park Place Residences high average selling prices and the 50% sales is an indication of a recovery mode of the private residential market.