City Developments emerged the winner of the Marketing Excellence Award for Forest Woods. The 519-unit project which was launched last October is 90% sold to date. On the first day of sales, 337 units (65%) were sold at an average price of $1,400 psf.

The sales were achieved despite tough market conditions. “No project of this size was launched in the much sought-after Serangoon Central area for a few years,” observes Sherman Kwek, City Developments’ CEO designate. “It was a highly-anticipated project that came across as a compelling purchase for homebuyers, upgraders and investors.”

Forest Woods’ location also played a part, given that it is within easy access of the Serangoon MRT interchange station and NEX mall. “It also offers great value at attractive pricing,” notes Kwek.

When it comes to marketing, timing is also important, says Tan Tiong Cheng, president of Knight Frank Asia Pacific. “In the case of Forest Woods, timing was nearly perfect.”