S P Setia’s Daintree Residence, a 327-unit private condo project on Toh Tuck Road, saw a take-up rate of 50 units on the first day of launch on Jul 28. The Malaysian-listed developer had released an initial phase of 80 units.

Daintree Residence is the first project to be launched following the new property cooling measures that kicked in on Jul 6. SP Setia offered buyers a 5% discount at launch, bringing average selling price to $1,710 psf.

S P Setia’s general manager Neo Keng Hoe says that the project will be launched in phases “to ride the higher launch prices expected for upcoming developments along the Downtown MRT Line”.