From left: Kingsley Ng, director of P&T Consultants; Edmund Cheng, deputy chairman of Wing Tai Holdings; Stéphane Montfort, managing director of Dragages Singapore; and Tan Hwee Bin, executive director of Wing Tai Holdings at the topping out ceremony for The M (Picture: Wing Tai Holdings)
SINGAPORE (EDGEPROP) - Wing Tai Holdings has topped out The M @ Middle Road, its mixed-use development in District 7’s Bugis area. On Jan 11, a topping-out ceremony was held for the 99-year leasehold project, which is slated for completion in the second half of the year.
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The M has 522 residential units, spread across three 20-storey towers and a six-storey tower. There are also commercial units located on the ground floor. Residential units comprise a mix of studio units as well as one- to three-bedroom apartments measuring between 409 to 1,012 sq ft.
The project, which launched for sale in February 2020, saw 70% of units sold at an average price of $2,450 psf during its launch weekend, despite concerns at the time surrounding the Covid-19 outbreak. Based on caveats lodged with URA as of Jan 12, The M is now 95% taken-up, with units sold at an average price of $2,500 psf.
In December 2022, a two-bedder measuring 592 sq ft unit on the 19th floor fetched $1.921 million, or $3,245 psf. This marks an all-time psf price high for the development, beating the previous high of $3,193 psf registered in October 2022 when a 764 sq ft unit sold for $2.44 million.
The development is within walking distance of a number of MRT stations and interchanges, notably Bugis, Esplanade and City Hall, which collectively provide access to four MRT lines — Downtown, East-West, Circle and North-South. It is also close to several major commercial developments such as Suntec City, Bugis Junction, Plaza Singapura and Raffles City.
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