News Highlights Saturday 5 July 2008

Kovan Residences preview sells 50
More than 50 units have been sold at Kovan Residences since a private preview party last Saturday. The average price at the 99-year leasehold condominium next to Kovan MRT Station is between $870 psf and $900 psf. And the units sold include 3 penthouses that fetched about $2 million to $3 million each. Buyers are mainly Singaporeans, most of whom have private home addresses. Centurion Properties is the majority shareholder of the project's developer Centurion Kovan. It is controlled by UOB-Kay Hian stockbrokers Han Seng Juan and David Loh Kim Kang, who invited 150 business associates, friends and relatives to a private preview at the showflat last Saturday. The lowest-priced unit is a two-bedroom apartment for over $700,000. The most expensive is a penthouse below $4 million. Three-bedroom apartments start from $1 million. Kovan Residences will have 512 apartments in eight blocks, all 18 storeys high. The 16 penthouses range from around 2,400-4,600 sq ft and come with a private pool or a Jacuzzi. The project is being developed on a 190,000 sq ft site.

- The Business Times, P8




Soaring rents pushing PRs to buy flats
Permanent residents are buying more HDB resale flats as high rents start to make ownership a more attractive option. PropNex and ERA said that in recent months, about 20% of total HDB home sales were driven by PRs. This is a four-fold increase from two years ago, said ERA. Property agencies say about 70% of the PR buyers are from China and India with the rest from countries such as Malaysia and the Philippines.

- The Straits Times, H1



Wealthy clients to zip around F1 party circuit
The Formula One race is certain to attract many millionaires – of which many will be clients of private banks. 13,000 corporate tickets costing $3,500 to $7,500 each for a seat in the Paddock Club are being snapped up by financial institutions and other major sponsors who are treating the F1 night race as a marketing tool. While many of those invited are local millionaires, captains of industry and personalities, bankers will also be flying in a fair number of clients from all over the world for the F1 night race.

- The Business Times, P1




Economists see weaker Q2 S'pore growth
Economists project weaker second-quarter GDP growth for Singapore. But wages growth, negative real interest rates and other factors may provide support for the rest of the year. OCBC Bank projects year-on-year Q2 GDP growth of 1.7% but expects GDP growth to bounce back strongly in Q3 and remain robust in Q4. OCBC’s forecast of average GDP growth for the year is 5.8%, down slightly from 6%.

- The Business Times, P9



DigiPen sees robust growth for S'pore campus
DigiPen Institute of Technology will open its doors here in September to an initial batch of 40 students. But it expects around 1,000 aspiring electronic game and media developers and engineers to throng its Singapore campus by 2016. By then, the institute will be staffed by around 160 teaching professors and assistants. DigiPen Singapore is located in the PIXEL Building at one-north.

- The Business Times, P8



Parc Sophia
- Phase 1 sold out
- Release of Phase 2
- 152 freehold apartments
- 1, 1+1, 2-bedroom apartments
- District 9 – Sophia/Adis Road
- Foreigners eligible
- Special financing packaging
- Developer: Oxley
- Marketing agent: Huttons
- TOP no later than 31 Dec 2013
- The Straits Times, P7 - advertisement
Shelford Suites
- 77 freehold units
- Private lift lobby for all units
- BCA Green Mark GoldPlus Award
- Approved deferred payment scheme
- Shelford Road, walking distance to future Botanic Gardens MRT Station
- Developer: City Developments
- Joint marketing agents: CBRE, Savills
- Expected TOP: 30 June 2011
- The Straits Times, P8 - advertisement
Charlton Villas
- More than 70% sold
- Freehold strata homes
- 39 strata terraces, 4 semi-Ds in 60,000 sqft site area
- 4-bedrooms: 2,723-4,026 sqft
- Special financing packaging
- Charlton Lane
- Developer: Hoi Hup Realty
- Marketing agent: Huttons
- The Straits Times, P14 - advertisement
Park Natura
- Freehold condo
- Prices from $1,000 psf
- Only few units left
- Just across Bukit Batok Nature Park
- Attractive deferred payment scheme
- Bukit Batok East Ave 6
- Developer: UIC Limited
- Expected TOP: 31 Dec 2011
- The Straits Times, P24 - advertisement
Lucida
- Freehold
- 62 units of 1, 2, 3-bedroom apartments and 4-bedroom penthouses
- Suffolk Rd
- Developer: Novelty Group
- Marketing agent: Huttons
- Expected TOP: 31 Dec 2011
- The Straits Times, P26 - advertisement
Fontaine Parry
- 5-storey condo with 125 units
- 999-year leasehold
- 2, 3-bedroom apartments, 4-bedroom penthouses
- 105,000 sqft land
- Developer: OUB Centre Limited
- Expected TOP: 31 Dec 2010
- The Straits Times, P32 - advertisement
Parc Mackenzie
- 42 units of freehold apartments
- Foreigners eligible
- Mackenzie Road
- TOP: 31 Dec 2009
- Developer: Yanlord Development
- Marketing agent: Citiprop
- The Straits Times, P9 - advertisement
Dakota Residences
- 348 units with 2, 3, 4-bedroom apartments and penthouses
- 1,023 – 3,714 sqft
- Foreigners eligible
- Zero instalment home loan package till TOP by DBS
- Dakota Crescent
- The Straits Times, H3 - advertisement
Clover by the Park
- New block open for sale
- 616 units in two 39-storey towers
- 3, 4-bedroom and penthouse
- Attractive financing packaging
- 99-years leasehold
- Bishan Road
- Developer: Sim Lian Group
- The Straits Times, H4 - advertisement
The Amery
- Freehold
- 78 units
- 74,600 sqft of land
- 3, 3+study, 4-bedroom and penthouses
- Lorong K Telok Kurau
- Developer: Sim Lian Group
- The Straits Times, H6 - advertisement
The Verte
- Lorong H Telok Kurau
- 35 units and 1 townhouse
- Selected units with private pools and Jacuzzi
- freehold
- Developer: Roxy Homes
- Marketing agent: Savills
- Expected TOP: 31 Jan 2012
- The Straits Times, H8 - advertisement
The Adara
- New release of 2-bedroom units
- Price from $807,000
- Interest absorption scheme
- Freehold, foreigners eligible
- 2, 3+1 bedroom units and penthouses
- Chapel Road
- Developer: Roxy Homes
- Marketing agent: Huttons
- The Straits Times, P9 - advertisement

¯ ST Index change 2,892.54 (+12.09)