Friday, September 30, 2011

Allgreen to preview Riviera 38

ROBERT Kuok's Singapore property unit Allgreen Properties will preview on Thursday next week a 102-unit development at Mar Thoma Road near the Toa Payoh/Bendemeer area.
The 999-year leasehold Riviera 38 will have a range of unit sizes, starting from 452 sq ft for a one-bedroom apartment to 1,980 sq ft for a penthouse with three bedrooms and a private swimming pool.

Allgreen says absolute unit prices will start from about $530,000 for a 452 sq ft one-bedder on the seventh floor. The developer has yet to finalise pricing, but word on the street is that the average price indication being given to prospective buyers is about $1,200 psf. A property agent not involved with marketing the project told BT that an 'average price of about $1,100-1,200 psf would be reasonable'.

Riviera 38 will have 20 one-bedders and another 21 one-bedroom-plus-study units. The remaining units in the development are two-bedders, two-bedroom-plus-study units, three-bedders and penthouses.

DTZ is the sole marketing agent for the project, which will be developed on the former Hup Cheong Mansion site.

Riviera 38 will have a single tower of 27 storeys. Apartments will start from the sixth floor. Facilities in the project will include an infinity-edge swimming pool, children's pool, jacuzzi, children's play area, barbecue pavilion, gym and function room.

Meanwhile, near Punggol MRT Station, Sim Lian will release tomorrow the remaining 92 units at A Treasure Trove, a 99-year leasehold private condo. The average price of the final batch of units is expected to be the same as the previous release of 200 units on Sept 17, that is, slightly higher than $866 psf average price at which the project was previewed earlier this month.

BT understands that as of yesterday, about 680 of the 790 units released to date in the 882-unit project had found buyers.

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