216 Sengkang Grand Residences units sold at launch weekend

Singaporeans accounted for the bulk of the buyers at 93%, while the remaining 7% were permanent residents and foreigners primarily from Malaysia, China, India and the Philippines. Photo: CDL/CapitaLand

Developers CapitaLand and City Developments Limited (CDL) sold 216 of the 280 units released for sale at Sengkang Grand Residences during its launch weekend.

Units at the 99-year leasehold development achieved an average price of about $1,700 per square foot (psf).

Singaporeans accounted for the bulk of the buyers at 93%, while the remaining 7% were permanent residents and foreigners primarily from Malaysia, China, India and the Philippines.

Unit sizes 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 for a one-bedroom plus study unit start from $798,000 for, $998,000 for a two-bedder, $1.498 million for a three-bedder, and $2.1 million for a four-bedroom premium plus flexi unit.

“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,” said Chia Ngiang Hong, group general manager at CDL.

 

“As the first integrated community and lifestyle hub in the North-East region, Sengkang Grand Residences offers residents direct access to lifestyle conveniences and vibrant community living experience under one roof. We are confident that the project will continue to attract interest from prospective homebuyers and investors.”

Situated at Compassvale Bow in district 19, the 680-unit development offers residents access to 300,000 sq ft of lifestyle and community conveniences via the hawker centre, the three-storey Sengkang Grand Mall, community plaza and community club.

Residents will also enjoy connectivity to a bus interchange and Buangkok MRT station as well as access to major expressways such as KPE and CTE.

“We are very encouraged by the strong response at the weekend launch of Sengkang Grand Residences. This points to the continued market demand for residences set within an integrated development,” said Ronald Tay, chief executive officer of CapitaLand Singapore, Malaysia & Indonesia (residential & retail).

“Homebuyers are drawn to the property’s convenient location atop a transport hub and direct access to an exciting line-up of retail offerings at Sengkang Grand Mall, among other facilities and amenities.”

Meanwhile, Country Manager of PropertyGuru, Tan Tee Khoon, said: “The number of units sold in the launch weekend is a very positive sales result for a suburban location like Sengkang. The reputation of the two mega-developers and the fact that this is the first integrated development of its kind in the Northeast region are key contributing figures to its success.”

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

This post was originally posted on Property Guru Property Market News Section