City Developments Ltd, a Singapore-listed company, only launched one project in 2016, the Forest Woods with 519 units, which turned out to be among the best sellers in 2016. The private condominium had 65% of the units (337 units) sold at a medium price of $1,400 psf during its launch on the Oct 8 and 9 weekend. By mid-December, 73% of the units (380 units) were sold.
Forest Woods has its location on Lorong Lew Lian. NEX Shopping Mall is a 5-minute walk away.
Gramercy Park, also by CDL, has also been experiencing buying activity. The luxury condo located in Grange Road has 174 units and its TOP was in the second quarter of 2016. In its soft launch in May, 40 units were released and quickly taken up mostly by Singaporeans, at medium price of $2,600 psf. So far, of the 50 units released, 45 have been sold.
Gramercy Park is located in the prime district 10 with a freehold tenure, which has also attracted foreign buyers. CDL has marketed it in other countries such as China, Malaysia, Hong Kong and Indonesia.
A New York-based architect, NBBJ designed Gramercy Park as well as The Sail @ Marina Bay also by CDL.
CDL also had Nouvel 18, a luxury condo which it divested in October through Profit Participation Securities. The PPS was the third by CDL where it sold its entire stake at Summervale Properties (owns Nouvel 18) for $977.6 m.
The deal of the freehold project with 156 units was valued at $2,750. With the sale, CDL avoided payment of extension charges that would have started in November.
CDL also has mixed-use development, South Beach, in a joint venture with IOI Properties of Malaysia. Initially named South Beach, the luxury hotel with 634 rooms was rebranded to JW Marriott Hotel Singapore South Beach and its opening was on December 15. Above the hotel, the development also has luxury residences, Grade A office tower and retail outlets.
The Venue Residences and Shoppes is another one of CDL projects. It is set for completion in 2Q 2017 and has 266 residential units of 1 bedroom units to 4 bedrooms penthouse and 28 strata shops.
So far, 70% residential units have been sold at a medium price of $1,400 psf and 60% of strata shops sold at a medium price of $5,400 psf.
You may want to know more upcoming launches in year 2017. Here are some of them: