City Developments Limited has launched a special promotion on the weekend of July 3 – 4 targeting national servicemen who intend to purchase private condominiums. This was to mark SAF Day on Friday July 1.
Under the promotion, eligible buyers are offered a special discount on units on any of the 3 residential properties namely D’Nest and Coco Palms in Paris Ris as well as Potong Pasir’s The Venue Residences and Shoppes.
The promotion by CDL comes as the property market in Singapore is in a sharp slowdown. This has seen developers become creative and have offered trips and prizes as well as marketing to overseas buyers in a bid to boost sales.
A spokesman with CDL noted that the promotion, which was to support the nationwide NS Campaign, was a first by any Singapore developer.
“CDL has always been in support of all NS aspects. As a company in Singapore, our believe is that defending our homeland starts with owning as stake in it, in owning a home,” said the spokesman.
Those who can benefit from the discount are those in the Singapore Armed Forces as NSF- full time servicemen, Reservists- NS men and Regulars as well as NS and NSF in Singapore Civil Defense Force and Singapore Police Force.
Despite CDL not revealing the discounts, sources indicated that properties such as Pasir Ris or Outside Central Region would get up to 5% while discounts in the city fringe such as Potong Pasir may be higher.
So far, 46% or 123 of the 266 units of The Venue Residences and Shoppes have been sold.
At D’Nest and Coco Palms, price for a 2 bedrooms starts from $1,197 psf while 3 bedrooms start at $949,000 and 4 bedrooms start at $ 1.38m.
According to the spokesman, the promotion is to take place on 2 to 3 July though the developer will gauge its response before deciding whether to extend it.
Information from Property Guru