Around 70% of the 244 units have been reserved, with 130 units secured by sure-buyers.
According to a report from Maybank Kim Eng, UOL recently launched Katong Regency, the residential component of its mixed development on the site of the former Lion City Hotel. Approximately 70% of the 244 units have been booked, with around 130 units confirmed sold at an ASP of SGD1,475 to 1,727 psf.
The 244-unit freehold Katong Regency sits atop ONE KM Mall, which has a net lettable area of 210,000 sq ft. Its integration with a mall is a strong selling point, with eventual ASP estimated at SGD1,600 psf. The project is also expected to tap on the growth potential of Paya Lebar Central, a designated regional commercial hub. The breakeven for the residential component is estimated to be SGD1,145 psf, which would translate to a healthy pre- tax margin of 40%.
Riding on the sustained demand for mass market projects, UOL’s 544-unit Archipelago at Bedok Reservoir has enjoyed a pick- up in sales momentum after a relatively slow start. In 1Q12, the group sold 168 units at an ASP of around SGD1,100 psf on an estimated breakeven of SGD900 psf. As of end-March, 77% of the 350 units launched have been sold.
UOL’s latest acquisition is the SGD172m en-bloc purchase of St Patrick’s Garden off East Coast Road. Land cost for the freehold site works out to an attractive SGD817 psf ppr for UOL and the eventual breakeven is estimated at SGD1,265 psf. With units at Grand Duchess at St Patrick’s next door transacting at an average of SGD1,350 psf in the secondary market, UOL could be eyeing a launch price of SGD1,500 psf for its new project
According to a report from Maybank Kim Eng, UOL recently launched Katong Regency, the residential component of its mixed development on the site of the former Lion City Hotel. Approximately 70% of the 244 units have been booked, with around 130 units confirmed sold at an ASP of SGD1,475 to 1,727 psf.
The 244-unit freehold Katong Regency sits atop ONE KM Mall, which has a net lettable area of 210,000 sq ft. Its integration with a mall is a strong selling point, with eventual ASP estimated at SGD1,600 psf. The project is also expected to tap on the growth potential of Paya Lebar Central, a designated regional commercial hub. The breakeven for the residential component is estimated to be SGD1,145 psf, which would translate to a healthy pre- tax margin of 40%.
Riding on the sustained demand for mass market projects, UOL’s 544-unit Archipelago at Bedok Reservoir has enjoyed a pick- up in sales momentum after a relatively slow start. In 1Q12, the group sold 168 units at an ASP of around SGD1,100 psf on an estimated breakeven of SGD900 psf. As of end-March, 77% of the 350 units launched have been sold.
UOL’s latest acquisition is the SGD172m en-bloc purchase of St Patrick’s Garden off East Coast Road. Land cost for the freehold site works out to an attractive SGD817 psf ppr for UOL and the eventual breakeven is estimated at SGD1,265 psf. With units at Grand Duchess at St Patrick’s next door transacting at an average of SGD1,350 psf in the secondary market, UOL could be eyeing a launch price of SGD1,500 psf for its new project
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