216 units snapped up at Sengkang Grand Residences launch
The 99-year development next to Buangkok MRT station was selling at an estimated average of $1,700 psf.
Jointly developed by City Developments Ltd (CDL) and CapitaLand, Sengkang Grand Residences managed to sell 216 out of its 680 units available in total.
The project was launched over the weekend and units were sold around an average psf of $1,700.
According to reports, around 93 percent of the purchasers were Singapore citizens.
Sengkang Grand Residences comprises a total of 680 units distributed across 9 residential blocks. It has a wide range of unit types ranging from a 1-bedroom plus study (474 sq ft) to a 4-bedroom premium plus Flexi (1,324 sq ft).
It was noted that the starting price for a 1-bedroom plus study unit was $798,000; 2-bedroom from $998,000, 3-bedroom from $1.498 million, and 4-bedroom premium plus Flexi starts from $2.1 million.
The 401,012 sq ft site was acquired by both CDL and CapitaLand back in August 2018 for $777.78 million. It was the largest residential and commercial site acquired since 2015.
Sengkang Grand Residences is located within District 19 of Singapore, along Compassvale Bow. It offers future residents access to approximately 300,000 sq ft of communal and lifestyle options through the 3-storey integrated shopping mall – Sengkang Grand Mall.
It will also consist of a hawker center, a community club, and plaza; direct connectivity to Buangkok MRT station.
CapitaLand said that the group is encouraged by the strong and healthy response over the weekend launch of Sengkang Grand Residences.
It has attributed the strong showing to the market demand for private homes placed within a mixed integrated development and the property’s convenience to public transportation and amenities.
In recent years, similar integrated developments have also been launched and have received overwhelming responses from home buyers. These projects include Park Place Residences at PLQ and The Woodleigh Residences.