200 units at Alexandra View condo sold in a day

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
At $1,700 psf, this sounds really expensive!

The Straits Times
Published on Dec 29, 2012
200 units at Alexandra View condo sold in a day

CityDev says strong preview sales for Echelon are due to its location

By yasmine yahya

DEVELOPER City Developments (CDL) started its New Year celebrations early yesterday after 80 per cent of the units at new condominium Echelon put up for preview sales were snapped up on the first day.

"It is a great way for us to round up the year," said CDL group general manager Chia Ngiang Hong.

The Alexandra View project, which is being developed by CDL and joint-venture partners Hong Leong Holdings and Hong Realty, is at the edge of the city and the Tanglin residential area and just a five-minute walk to Redhill MRT station.

There will be 508 units spread over the condominium's two 43-storey towers.

The mix includes one- to four-bedroom flats, exclusive loft units and penthouses, all with the "early bird" price of $1,700 per sq ft.

That prices the one-bedders at $800,000 at least, while two-bedroom units start at $1.19 million.

Three-bedroom units can be had for at least $1.34 million, four-bedders from $2.13 million and penthouse suites from $7.15 million.

CDL had originally planned to release 218 units for sale yesterday but strong demand saw this increased to 250.

By 4pm, 200 had been sold.

"The strong demand for Echelon is reflective of its premium location. It offers the best of both worlds - close proximity to the Redhill MRT station and nestled in the tranquillity of the city fringe," said Mr Chia.

"We tendered strategically for this coveted piece of land in 2011. Since then, we've seen subsequent land sales in this area tran-sact at prices significantly higher, which demonstrates the value and potential price appreciation of this locale and its surroundings."

Echelon is expected to yield good rental potential with a sizeable pool of expatriates working in the nearby business parks, such as One North and Mapletree Business City, CDL said in a statement.

Expatriates working in the Central Business District are also increasingly turning to housing options in the city fringe area, enhancing Echelon's attractiveness, the developer added.

CDL said the project is near shopping centres such as Ikea Alexandra and the Star Vista mall at Buona Vista and leisure options at Sentosa, Holland Village, Dempsey Hill and Orchard Road.

Schools nearby include Crescent Girls' School, Gan Eng Seng Primary and Secondary schools, CHIJ St Theresa's Convent and the Management Development Institute of Singapore.

Echelon is designed by architectural firm SCDA Architects.

It will include a rooftop terrace on the 42nd floor called Sky Echelon, which will feature a dining area and a lounge with a pool.

My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
The condo next door is morr expensive! 1.7k is like tge psf price of Alexis, the more apartment like,less condo like establishment at queenstown
But overall its selling well.. visit the place during the weekend and more than 50% sold already at this Echelon @ Alexandra

Forum Jump:

Users browsing this thread: 1 Guest(s)