UOL to launch new condo after good sales at Amber45

Artist’s impression of The Tre Ver, an upcoming condominium project in Potong Pasir. (Photo: UOL Group)

UOL Group’s freehold Amber45 condominium in District 15 continues to draw buyers, with about 65 percent of the 139 units already sold, up from 55 to 60 percent during the launch in mid-May, according to brokerage CGS-CIMB.

“Most sought-after are the two-bedroom units which range from 614 to 872 sq ft. The three-bedroom units range from 1,130 to1,324 sq ft, while the largest configurations are the four-bedroom units with 1,346 to 1,798 sq ft,” it said.

More: 80% Of Units Released At Amber45 Sold At Average Of $2,200 Psf

Buyers were mostly Singaporeans, with prices averaging at around $2,200 psf.

“Designed by ADDP Architect, Amber45 is impressive with high-quality finishings and well-thought and efficient layout, in our view,” noted CGS-CIMB.

Following Amber45’s healthy take-up rate, UOL plans to launch another project known as The Tre Ver in the third quarter at an estimated average selling price of $1,400 psf.

The 99-year leasehold project is located on the former Raintree Gardens HUDC site in Potong Pasir, which was built in the 1980s and subsequently sold via collective sale in 2016 to UOL Group and United Industrial Corporation for $334.2 million ($797 psf ppr).

The 201,405 sq ft site has a gross plot ratio of 2.8 and could yield some 729 units.

Both developments are expected to be completed by 2021.

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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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