Sengkang Grand Residences sees 216 units sold on launch weekend

The crowd at the Sengkang Grand Residences sales gallery during its launch weekend
Dated: 04-Nov-2019

Developers CapitaLand and City Developments (CDL) have sold 216, or about 77 per cent, of the 280 apartments launched for sale at the 680-unit Sengkang Grand Residences over the weekend.

The units were booked at an average selling price of about $1, 700 per sq ft for the 99-year leasehold development next to Buangkok MRT station, said the listed companies in a media release yesterday.

About 93 per cent of the buyers were Singaporeans, while the other 7 per cent were permanent residents and foreigners mainly from China, Malaysia, India and the Philippines.

Prices ranged from $798, 000 for a one-bedroom plus study unit to $998, 000 for a two-bedroom, $1.5 million for a three-bedroom and $2.1 million for a four-bedroom "premium plus flexi" apartment.

Unit sizes began at 474 sq ft for the one-bedroom plus study to 1, 324 sq ft for the four-bedroom premium plus flexi unit.

Said CDL Group general manager Chia Ngiang Hong: "The robust take-up reflects a healthy demand for attractively priced homes that are well designed, well located and well connected to a comprehensive array of amenities.

"We are confident that the project will continue to attract interest from prospective home buyers and investors."

Situated in Sengkang Central in district 19, the development forms part of the first integrated community and lifestyle hub in the north-east region. The residential component comprises 680 units that are spread across nine blocks.

Complementing this, the integrated development also features a retail mall, hawker centre, community club, childcare centre, community plaza and a bus interchange.

The three-storey Sengkang Grand Mall has a gross floor area of 160, 000 sq ft.

Mr Ronald Tay, chief executive of CapitaLand Singapore, Malaysia and Indonesia for residential and retail, said: "We are very encouraged by the strong response at the weekend launch of Sengkang Grand Residences. This points to the continued market demand for residences set within an integrated development.

"Home buyers are drawn to the property's convenient location atop a transport hub and direct access to an exciting line-up of retail offerings at Sengkang Grand Mall, amongst other facilities and amenities."

The 3.7ha property is a joint venture between CapitaLand and CDL which clinched the Government Land Sales site for $777.78 million in August last year.

It is the largest commercial and residential site awarded since 2015.

The bid was submitted on a two-envelope concept and price revenue tender system, with emphasis on an integrated design concept.

Source: Straits Times