Wednesday, September 19, 2012

700 lodge e-applications for Heron Bay's 394 units


The Straits Times
September 18, 2012

MORE than 700 interested buyers had lodged e-applications for the lavish 394-unit Heron Bay executive condominium (EC) as of 5pm yesterday.

That easily makes Heron Bay, which was launched on Sunday, the best performing EC in terms of first-day application numbers in recent years, said Mr Vincent Ong, managing partner of Evia, a partner in the development consortium.

What makes the project so appealing, he said, is the Upper Serangoon development's luxury features on an EC budget.

Units are priced between $715 and $720 per sq ft on average. The smallest unit, at about 775 sq ft, is expected to cost around $560,000, while the five-bedroom penthouse is 2,841 sq ft and expected to cost between $1.5 million and $1.6 million. Such five-room units are firsts for an EC development.

Some ground floor units can accommodate a jacuzzi-cum-pool of up to 6m in length, or a garden pond. There will also be pricer and sleeker household appliances, a year's worth of free fibre broadband service, a basement carpark and a swimming pool.

Eventually, there will also be a sea sports recreational centre with kayaks and tandem bicycles. Dual-key units that allow for multi-generational living are also available.

The EC, between Serangoon River and Punggol Park, is being developed by a consortium comprising Ho Lee Group, See Hup Seng, CNH Investment and Evia Real Estate Management. Construction is due to be completed some time in 2016.

A ballot will be held after applications close on Sept 23, as the number of applications has exceeded that of the units. Successful applicants can book their units from Oct 26.

Mr Jeffrey Hong, chief executive of GPS Alliance, which is the EC's lead marketing agent, said interest is coming from a mix of first- and second-timers, and includes newly-weds and families.

Businessman Zak Hashim, 48, submitted his application on Sunday to buy a five-room penthouse. "I like the sizes offered; it is bigger compared with other ECs I have seen... The features, like the quality finishing, are also amazing," he said.


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