Tuesday, August 2, 2011

Over 150 units at euHabitat said to be sold

FAR East Organization group is said to have sold over 150 units at euHabitat, a 99-year leasehold private residential project at Jalan Eunos.
It began previewing the five-storey project last week and is understood to have released over 200 of the project's total 748 units so far. The development includes 51 four-bedroom townhouses, 233 one- and two-bedroom Soho-styled units, and 160 one-bedroom suites. The remaining units are one to four-bedroom apartments.

The suites are in separate towers from the apartments.

The average prices in the development range from about $800 psf to slightly over $1,000 psf - depending on the housing form.

Far East is developing euHabitat on a site next to Pan Island Expressway clinched by the group's units Tuas Technology Park and OPH Marymount at a state tender in September last year, for $414.57 per square foot per plot ratio (psf ppr). They paid 26.5 per cent more than the next highest offer of $327.76 psf ppr. The tender drew five bids.

Over in Pasir Ris, where Far East is developing Seastrand condo with Frasers Centrepoint, 232 units have been sold to date. The developers have released 269 of the total 475 units in the project, which is priced on average at $895 psf.

Far East has also sold 202 units at Woodhaven condo in the Woodlands area. To date 242 of the development's 337 units have been released. The average price is $957 psf. Far East released the two projects, both 99-year leasehold, in June.

In the shoebox apartment category, Jool Suites at Sing Joo Walk behind Tessensohn Road, was previewed last week. About 18 units are said to have been sold so far. BT understands that about half of the 52-unit freehold project has been released; the average price is about $1,500 psf. One-bedroom units are around 388-484 sq ft, while two bedders are about 624 sq ft.

The development is in the vicinity of Farrer Park MRT Station and Connexion, a 20-storey development that will include a hospital, medical centre and hotel.

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