Amber Park sells 115 units out of 150 in weekend launch, Latest Business News - The New Paper

Amber Park sells 115 units out of 150 in weekend launch

This article is more than 12 months old

Amber Park sold 115 units at an early-bird average price of $2,425 per square foot, after the 592-unit East Coast condominium project was launched over the weekend.

This accounted for 77 per cent of the 150 units released by City Developments (CDL) and its joint-venture partner Hong Realty.

The take-up was "the strongest launch weekend sales for a freehold project this year", said CDL in a media release yesterday.

The sold units - which included a penthouse - amounted to a total sales value of over $240 million and covered all apartment types.

Early-bird prices started from $1.088 million for a one-bedroom plus study apartment, $1.608 million for a two-bedroom plus study, $1.628 million for a two-bedroom, $2.18 million for a three-bedroom, $3.068 million for a four-bedroom plus study, $3.438 million for a four-bedroom and $4.98 million for a five-bedroom premium.

Unit sizes range from 463 sq ft for a one-bedroom plus study to 5,005 sq ft for the largest six-bedroom plus study penthouse.

CDL group general manager Chia Ngiang Hong said: "Sales for this project are off to a good start, indicating healthy demand for well-located projects that are exceptionally designed. As a freehold project in District 15 located so close to an MRT station, Amber Park draws buyers looking for projects with good investment value."

ZACD Group head of research and consultancy Nicholas Mak said of the pricing: "It reflects the quality of the location, the freehold tenure as well as the dependability of a brand-name developer, which will command a premium on the price."

The condo project is a three-minute walk from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line.

Schools within a 2km radius include Tao Nan School and CHIJ (Katong) Primary. - THE STRAITS TIMES