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CapitaLand and CDL sell 32% of Sengkang Grand Residences on launch weekend

/ EdgeProp Singapore |

November 3, 2019 8:02 PM SGT

SINGAPORE (EDGEPROP) - Singapore’s two biggest listed property giants, CapitaLand Ltd and City Developments Ltd (CDL), launched their joint development, the 680-unit Sengkang Grand Residences, on Saturday, Nov 2, a week after its preview.

A total of 216 units, or 31.8% of the 680 units at Sengkang Grand Residences, were snapped up on launch weekend (Photo: CapitaLand/City Developments)

A total of 216 units, or 31.8% of the units in the development, were sold at an average price of $1,700 psf by 6pm on Nov 3, according to the developers in a joint release. “The strong performance makes Sengkang Grand Residences the best-selling integrated project launch this year,” the joint developers added.

About 93% of the buyers are said to be Singaporeans, with the remainder being a mix of permanent residents and foreigners, primarily from China, Malaysia, India and the Philippines.

It will be a new landmark in the heart of Sengkang Central, with 300,000 sq ft of amenities including a shopping mall, community club, hawker centre, community plaza and childcare centre, with seamless connectivity to Buangkok MRT Station and bus interchange.

Sengkang Grand will be a new landmark and integrated development with 300,000 sq ft of community and lifestyle amenities when completed (Photo: CapitaLand/City Developments)

“This points to the continued market demand for residences set within an integrated development,” says Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, Residential & Retail. “Building on our track record of developing iconic integrated developments, Sengkang Grand Residences will be part of the first integrated community and lifestyle hub in the North-East region.”

Units range from 474 sq ft for a one-bedroom-plus-study to 1,324 sq ft for a four-bedroom-premium-plus-flexi unit. Prices start from $798,000 for a one-bedroom-plus-study type; from $998,000 for two-bedroom units; from $1.498 million for three-bedders; and from $2.1 million for four-bedroom-premium-plus-flexi units. All the units will be equipped with European brand kitchen and sanitary fittings from De Dietrich, Hansgrohe, Franke and Duravit.

CDL group general manager, Chia Ngiang Hong, says: “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.”

For price trends, recent transactions, other project info, check out Sengkang Grand Residences project research page

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