Singapore Property | SDB Asia, a Singapore-based real estate development company that operates as a subsidiary of Malaysian-based Selangor Dredging Bhd that engages in developing residential apartments had expressed confidence and still being optimistic about its two projects that were launched last year.
On the updated data from URA Realis, it showed that there were only 3 units had been taken up at One Draycott in an average selling price of $3,042 psf while 53 units or 45.3% were sold at Jui Residences at $1,713 psf. However, Teh Lip Kim, managing director of SDB, still upbeats despite the dip of sales due to property cooling measure regulation in Singapore and ensures to stand firm and continue the development projects.
More on SDB Still Optimistic On Its Two Launches Last Year
The positive reckoning of Ms. Teh Lip Kim to One Draycott is due to the fact that there are minimal new projects competing on the market within the posh area of Ardmore Park, Draycott Park-Draycott Drive and Claymore Hill in the prime of District 10. The competing projects at the location are the 43-unit Le Nouvel Ardmore by Wing Tai Holdings, the 34-unit Sculptural Ardmore by SC Global Developments and the upcoming luxury project by Hongkong-based developer, Swire Properties.
She added that despite the minimal competition, selling price of One Draycott standstill at $3,500 psf on its 60 typical 2-bedroom units with sizes comprises to 732 square feet and 797 square foot and on its 4 penthouses located at the 18th floor with the double-volume ceiling with area ranging from 1,238 square feet to 1,345 square feet.
The same high expectation they have with Jui Residences at Serangoon Road due to its location near MRT stations of Potong Pasir and Boon Keng on the North-east Line making it a strategic residence for young professionals. Besides this 117-unit features the conserved Bauhaus and Miami Art Deco style of the 1950s that could gain the interest of homebuyers. SDB Asia which is known on venturing out freehold sites will look up for new sites after getting certain sales figures from the two launched projects.