From the 30 Dec 2006 edition of TODAY newspaper.
A 'View' for the new year
By joseph yadao
joseph.yadao@mediacorp.com.sg
IN WHAT is probably the first residential property launch of 2007, GuocoLand is set to ring in the new year with the launch of The View @ Meyer, an exclusive 23-storey freehold luxury development at Meyer Road.
The boutique development, which is expected to be launched early next month, has only 45 units comprising mostly large three and-four-bedroom apartments. Each of these units is served by a private lift.
There are also two penthouses with sky gardens located on the two top floors of the development.
Each unit has a north-south orientation. And just as its name suggests, the development offers its residents views of Katong Park, East Coast Park and the South China Sea to the south. To the north, residents have a poolside view.
GuocoLand is set to host a series of special previews for its local and overseas clients, no doubt encouraged by the response to Marina Bay Residences where units were all sold out even before the official launch date.
However, because it is located about 10 minutes away from the Marina Bay integrated resort (IR), it is not clear whether it can command the price premiums attained by properties that are right on the IR's doorstep.
Market watchers believe GuocoLand is looking at prices averaging $1,500psf, but experts believe that it is simply too high a number.
"I'll be surprised if it reaches that figure, especially since properties in the Meyer Road area are fetching only between $750psf and $850psf," said Mr James Lee, founder and chief executive of James Lee Realty.
In comparison, The Stellar, another GuocoLand freehold condominium project that was launched in early February, averaged $550psf.
GuocoLand has been involved in some high-profile deals over the past year. Its subsidiary, First Capital Asia Land, bought Sophia Court at Addis Road for $230 million in a collective sale.
The developer was also involved in one of Singapore's largest ever en-bloc deals when it paid $280 million for Casa Rosita, a prime freehold condominium in the Newton area.
A 'View' for the new year
By joseph yadao
joseph.yadao@mediacorp.com.sg
IN WHAT is probably the first residential property launch of 2007, GuocoLand is set to ring in the new year with the launch of The View @ Meyer, an exclusive 23-storey freehold luxury development at Meyer Road.
The boutique development, which is expected to be launched early next month, has only 45 units comprising mostly large three and-four-bedroom apartments. Each of these units is served by a private lift.
There are also two penthouses with sky gardens located on the two top floors of the development.
Each unit has a north-south orientation. And just as its name suggests, the development offers its residents views of Katong Park, East Coast Park and the South China Sea to the south. To the north, residents have a poolside view.
GuocoLand is set to host a series of special previews for its local and overseas clients, no doubt encouraged by the response to Marina Bay Residences where units were all sold out even before the official launch date.
However, because it is located about 10 minutes away from the Marina Bay integrated resort (IR), it is not clear whether it can command the price premiums attained by properties that are right on the IR's doorstep.
Market watchers believe GuocoLand is looking at prices averaging $1,500psf, but experts believe that it is simply too high a number.
"I'll be surprised if it reaches that figure, especially since properties in the Meyer Road area are fetching only between $750psf and $850psf," said Mr James Lee, founder and chief executive of James Lee Realty.
In comparison, The Stellar, another GuocoLand freehold condominium project that was launched in early February, averaged $550psf.
GuocoLand has been involved in some high-profile deals over the past year. Its subsidiary, First Capital Asia Land, bought Sophia Court at Addis Road for $230 million in a collective sale.
The developer was also involved in one of Singapore's largest ever en-bloc deals when it paid $280 million for Casa Rosita, a prime freehold condominium in the Newton area.