Friday, March 30, 2012

MCL Land sells 270 Ripple Bay condos

Business Times: Fri, Mar 30
(SINGAPORE) MCL Land yesterday drew crowds at its Ripple Bay condo showflat in Pasir Ris, selling 270 units in the 679-unit project by about 8pm.

The developer had not crunched its numbers by press time but its CEO Koh Teck Chuan estimates that the average price when sales began in the morning was around $855 psf. As sales progressed, MCL upped prices to around $870 psf on average.

'But we have not done a final tally on our average price,' he said.

A good spread of units - one, two and three bedders - have been sold. Buyers are mostly Singaporeans.

Ripple Bay, which is within walking distance of Pasir Ris Beach, is in front of Far East Organization's 473-unit Seastrand, where units are being offered for about $905 psf on average. Far East released the project in June last year and close to 100 units are still available.

At Flora Drive in the Upper Changi area, Frasers Centrepoint has so far found buyers for 58 of the 120 units released at the 429-unit Palm Isles condo. Sales began on Wednesday evening. The average price is $830 psf, lower than $870 psf at which the nearby Hedges Park Condominium is going for. The 501-unit project, which went on the market in April last year, still has over 100 units available for sale.

All four projects are on 99-year leasehold sites...

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Team Marshe
Martin Koh/ Sherry Tang
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