SINGAPORE – The property market continues to draw interest, with 280 of the 300 units released for luxury condominium The Reef at King’s Dock in the HarbourFront area snapped up on its launch weekend.
The price of units ranged between $2,000 and $2,800 per sq ft (psf), with units sold going for an average of $2,330 psf.
All the one-bedroom units are fully sold, said developers Mapletree Investments and Keppel Land in a joint statement on Sunday (Jan 31).
Most of the buyers are Singaporeans and permanent residents, with a mix of owner-occupiers and investors, they added.
The Reef at King’s Dock is a waterfront development comprising 429 one to three-bedroom units and is near the HarbourFront MRT station. The remaining units are a mix of premium two- and three-bedroom units which will be released in future phases.
The condo will feature Singapore’s first floating deck in a residential development. The 180m deck will house three swimming pools and a marine viewing area for residents and visitors to catch a glimpse of underwater life.
The developers also hired an environmental consulting firm to design the submerged surface of the concrete deck in a way that will encourage the settlement of marine life.
The development’s sales gallery opened for preview on Jan 16, drawing more than 9,000 visitors over two weeks prior to the weekend launch.
Mr Ng Ooi Hooi, who is president of Singapore and regional investments at Keppel Land, said buyers were drawn to the development’s “aesthetic blend of urban and nature elements”.
Added Ms Amy Ng, Mapletree’s regional chief executive for South-east Asia and group retail: “As future plans for the Greater Southern Waterfront roll out, The Reef at King’s Dock will be well-placed to benefit from the enhancements and growth in the precinct.”
The development, expected to be completed by 2025, is in the Greater Southern Waterfront area, which extends from Pasir Panjang to Marina East and is being rejuvenated.
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