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Piermont Grand EC sells 375 of its own 820 systems over launch weekend

Isabelle Ransford, October 7, 2019

SINGAPORE – Piermont Grand exec apartment (EC) – the 1st and also very likely just EC launch this year – sold 375 devices of a total 820 apartments at a typical rate of $1,080 per square foot (psf) over the launch weekend break.

Put Up Here: Piermont Grand location

The 46 per-cent sales obtained since 6pm on Sunday (July 28) “brings in Piermont Grand without a doubt the chart-topping home launch in 2019”, claimed programmer Metropolitan area Developments Limited (CDL) in a media release.

Entitled second-time customers represented about 65 per-cent of the devices sold, mentioned CDL. Under EC regulations, simply 30 per-cent of the venture can be allocated to second-time shoppers during the course of launch. Those in this group not able to get in the course of the initial launch period may do therefore for staying systems one month after the public launch.

CDL pointed out deferred payment was actually supplied for this EC. Qualified purchasers may additionally get CPF casing grants of as much as $30,000.

The 99-year leasehold growth forgets My Waterway @ Punggol, Singapore’s lengthiest fabricated waterway intercrossing by means of Punggol New City, and also is a three-minute stroll to Sumang and also Nibong LRT terminals, which are connected to Punggol MRT terminal and bus variation.

Piermont Grand supplies three-, 4- and also five-bedroom systems. Apartment or condo measurements are from 840 straight feets (sq ft) for a three-bedder to 1,701 square foot for a five-bedroom premium penthouse.

The units were actually cost around $1,080 psf, along with costs starting from $888,000 for a three-bedroom, $1.34 thousand for a four-bedroom costs and also $1.508 million for a five-bedroom costs. CDL claimed take-up benefited all device styles.

Savills Singapore study scalp Alan Cheong mentioned this was actually the very first time typical costs for an EC changeover $1,000 psf: “Wonderful purchases given the file prices and also moribund economic climate.”

Said CDL overall supervisor Chia Ngiang Hong: “Our experts are very delighted along with the powerful take-up for Piermont Grand, which demonstrates its own remarkable features. Situated appropriate next to two LRT stations as well as near Punggol MRT terminal, Piermont Grand is actually a new EC that is definitely difficult to follow by. Buyers are also brought in to the task as it is actually a site waterside home providing scenic views as well as luxurious conveniences.

” Our team have elevated the EC offering with effectively curated facilities and also premium fittings as well as appearances that are comparable to personal condominiums. Additionally, there is actually potential for significant upside given the development’s proximity to the upcoming Punggol Digital District.”

CDL is developing the Punggol EC with TID Pte Ltd, which a a joint venture in between Hong Leong Holdings and also Mitsui Fudosan Co

. They created the best offer of $509.37 million or a record to S$ 583 psf every lot proportion for the government property sales internet site at Sumang Stroll in February in 2013, the only EC area delivered in 2018. The breakeven price for units at the development was actually determined at around $1,000 psf.

The growth is actually marketed through TIME, Huttons, OrangeTee & Tie and PropNex.

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