Oxley holdings launch a new phase of its highly popular residential project, The Rise @ Oxley, offering 31 new units to prospective clients.
The Rise @ Oxley was originally developed as a mixed-use development with two floors dedicated to commercial shops and 120 residential units sitting on top of those shops. Although the shops haven’t been launched for sale yet but a total of 51 residential units have been sold since their launch in the June of 2014.
Although The Rise @ Oxley is located at a stone’s throw away from Orchard Road, which is practically the haven for shopaholics in Singapore, and the famous Killiney Road, a place for those who like to eat out, the Rise @ Oxley itself though has managed to carve a place of peace and seclusion.
According to the Director of Marketing at Oxley, Eugene Lim, a big chunk of projects launched recently are 99-year leaseholds, this is one of the rare freeholds. He also added that 43% of residential units had already been sold and there was also a demand in Oxley Rise enclave as there hadn’t been a new launch since 2008.
The Rise @ Oxley started with very competitive rates considering the fact that it is located in one of the premium area of District 9. Of the original apartments initially launched, one-bedroom units (463 sq. ft.) have all been sold at prices staring from $2,280 psf (per sq. ft.) and going up to $2,479 psf. The other original options are two bedroom apartments (614 to 646 sq. ft.), three bedroom apartments (667 to 1,163 sq. ft.) and penthouses (753 to 1,195 sq. ft.). The new phase consists of 31 two-bedroom apartments units starting from a price of $2,110 psf or from S$1.38 million.
Eric Low, deputy CEO of Oxley, believes it to be an opportune time for investors to invest in luxury segment as currents prices are below replacement prices. It is because of the narrowing price gap between 99-year leasehold projects in the Core Central Region (CCR) and Rest of the Central Region (RCR).
Other developments by Oxley Holdings include NEWest @ West Coast; which is a 999-year leasehold mixed development, FloraView & FloraVista; a freehold mixed development in District 20 and not forgetting The Flow @ East Coast; a Freehold commercial development.