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PR Newswire
09-05-2024, 08:32 AM
Sim Lian Group top bids for Jalan Tenbusu just by 0.1% higher than bided submitted by City Development (CDL) and Fraser Property. It was a close fight.
Sim Lian Group had successfully bid this new condo at Jalan Tembusu for $828.8 million, which work out to be $1,069 psf ppr.
This new site at Jalan Tembusu is opposite the Tembusu Grand by a joint venture between CDL and MCL Land, which won the site bid for $768 million, or $1,302 psf ppr in January 2022.
Given the land bid difference, it is $233 psf ppr, which is 17.9% lower than it was bought in 2022.
However, the price difference in the bid prices could be due to the changes in policies regarding the floor area harmonisation, which came into effect on 1st June 2023.
Tembusu Grand was launched at average $2,465 psf over the weekend of April 7-8 2023, with slightly more than 50% sold (53.3%) out of 638 units.
Meanwhile, Grand Dunman, which sits on Dunman Road, was sold at average $2,500 psf during the weekend of July 15-16 2023.
How do you think the price of Emerald of Katong will priced?
The price to launch could be from $2,200 -$2,400 psf.
Sim Lian Group was well known for pricing their projects based on market acceptance level, and price to sell. They won the best top-selling project in consecutive months for Botany at Dairy Farm.
Sim Lian Group expected to launch this new project at Jalan Tembusu; Emerald of Katong, in quarter 3 this year.
Sim Lian Group had successfully bid this new condo at Jalan Tembusu for $828.8 million, which work out to be $1,069 psf ppr.
This new site at Jalan Tembusu is opposite the Tembusu Grand by a joint venture between CDL and MCL Land, which won the site bid for $768 million, or $1,302 psf ppr in January 2022.
Given the land bid difference, it is $233 psf ppr, which is 17.9% lower than it was bought in 2022.
However, the price difference in the bid prices could be due to the changes in policies regarding the floor area harmonisation, which came into effect on 1st June 2023.
Tembusu Grand was launched at average $2,465 psf over the weekend of April 7-8 2023, with slightly more than 50% sold (53.3%) out of 638 units.
Meanwhile, Grand Dunman, which sits on Dunman Road, was sold at average $2,500 psf during the weekend of July 15-16 2023.
How do you think the price of Emerald of Katong will priced?
The price to launch could be from $2,200 -$2,400 psf.
Sim Lian Group was well known for pricing their projects based on market acceptance level, and price to sell. They won the best top-selling project in consecutive months for Botany at Dairy Farm.
Sim Lian Group expected to launch this new project at Jalan Tembusu; Emerald of Katong, in quarter 3 this year.