Tuesday, November 29, 2011

Sabana Reit set to buy Woodlands industrial property

Business Times: Tue, Nov 29
SABANA Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) is set to acquire a three-storey industrial property located at Woodlands for a purchase consideration of $14.8 million, to be funded by debt.

Easily accessible by Bukit Timah Expressway (BKE) and close to the Admiralty and Sembawang MRT stations, the JTC leasehold property located at located at 6 Woodlands Loop has a total gross floor area (GFA) of 77,544 square feet (sq ft) and a remaining tenure of about 43 years.

HSBC Institutional Trust Services (Singapore) Limited - in its capacity as the Reit's trustee - has on Nov 25 entered into a sale and purchase agreement (SPA) with Winstant & Co Pte Ltd (Winstant & Co) for the general industrial building.

Upon completion of the acquisition, Sabana Reit will enter into a three-year lease agreement with MMI Holdings Limited, the existing tenant of the property.

Under the SPA, the vendor has agreed to provide rental income support, subject to a maximum of $958,058, for a period of three years from the acquisition completion date.

The manager of the Reit, Sabana Real Estate Investment Management Pte Ltd, believes the proposed transaction to be beneficial to Sabana Reit's unit-holders, saying also that it is in line with with its strategy to invest in 'income-producing real estate and real-estate related assets used for industrial purposes in Asia' that provide strong cash flows and are yield-accretive.

The manager also said that the acquisition will raise the Reit's weighted lease tenure as well as lower its lease expiry concentration in 2013 and 2015.

Factoring in the post-acquisition impact of the Woodlands industrial building along with recently completed purchases comprising properties based in Joo Koon and Toh Tuck, the Reit's aggregate leverage stands at about 32.2 per cent. If including 39 Ubi Road 1 - a proposed acquisition that is pending legal completion - the aggregate leverage is expected to increase to 34.2 per cent.

The counter closed trading unchanged at 87 cents yesterday.

Source: Business Times © Singapore Press Holdings Ltd.

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Non-landed private home prices up 0.9% in October

Business Times: Tue, Nov 29
(SINGAPORE) The monthly Singapore Residential Price Index (SRPI) showed that prices of non-landed private homes climbed 0.9 per cent in October 2011 - reversing a three-month trend of zero or negative growth.

The index, which is compiled by the National University of Singapore, tracks prices of completed projects. It showed that prices were flat in July, and then fell 0.2 per cent in August and another 0.1 per cent in September.

The index is now at a fresh high. Analysts said that October's climb in the index was caused by resale home prices catching up to those fetched by new launches.

'In the last 3-4 months, we have seen zero or negative price growth for resale homes, but during the same period, new launches continued to be priced strongly,' said Ku Swee Yong, chief executive of International Property Advisor. 'Resale prices could now be catching up.'

Market sentiment also recovered somewhat in October, noted Knight Frank's head of research and consultancy Png Poh Soon.

'We believe the increase (in October's SRPI) could be a reflection of the improvement in market sentiment due to a broad-based recovery of the stock market, arising from possible positive developments in the European Debt Crisis. This could have led some to believe that the debt deal struck in Europe could be a sustainable solution,' said Mr Png.

'Coincidentally, there was also positive news coming out from the US and China, which also encouraged home buyers who might be looking to capitalise on the still low interest rate environment to purchase properties.'

Yesterday's flash estimate showed that the SRPI Small index, which covers completed non-landed private homes island-wide of up to 506 sq ft, rose 0.9 per cent in October after falling 3.5 per cent in September. Analysts noted that the SRPI Small unit sub-index could be more volatile than the other indices as the sample size for the index is likely to be limited.

The estimates also showed that prices in both the 'central' and 'non-central' locations rose in October.

Prices of completed private apartments and condos (excluding small units) in the central region rose by one per cent, while prices in the non-central region (excluding small units) rose 0.8 per cent.

Looking ahead, Mr Ku said that resale prices could continue to trend upwards as new launches from developers set benchmark prices in certain locations.

And sellers could continue to up their asking prices because some units in new launches in the vicinity of their homes command benchmark prices, noted another market watcher.

Source: Business Times © Singapore Press Holdings Ltd

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Thursday, November 24, 2011

Preview of The Scotts Tower set for next week

Business Times: Thu, Nov 24
(SINGAPORE) Far East Organization will preview the 231-unit The Scotts Tower next week under its new Far East SOHO brand.

Units in the 103-year leasehold project, which is located at Scotts Road, will start from about $3,200 per square foot (psf), said Chia Boon Kuah, Far East chief operating officer for property sales.

The Scotts Tower is the first project to be rolled out under the Far East SOHO brand platform, which was unveiled yesterday.

The brand aims to provide a distinctive collection of modern, new-generation small office, home office (SoHo) apartments that will cater to a ready demand in Singapore, Far East said.

The developer has sold more than 1,000 SoHo apartments since 2004, when it launched Singapore's first SoHo development at Central, above Clarke Quay MRT station.

Since then, it has also launched two other SoHo-style projects - The Tennery at Upper Bukit Timah and The Cape at Amber Road.

Mr Chia explained that the time was ripe for the brand to be launched as Far East has sold a large number of SoHo units in Singapore over the past few years.

'We have been focusing on our products in the past few years, and have sold over 1,000 SoHo units. We expect that the market is ready for the launch of the Far East SOHO brand.'

Far East SOHO properties will all offer strategic locations, flexible space and excellent connectivity, said executive director for property services Chng Kiong Huat.

All properties will be featuring a 'voluminous, creative canvas of space' with floor-to-ceiling heights of at least 3.4 metres, and a 'semi-white plan' - which means homeowners will have an array of palette options.

The Far East SOHO brand will also be brought to life in other Asian markets such as China and Indonesia, the developer said.

But for now, Far East will first preview the 31-storey The Scotts Tower under the new brand. The development will be made up of mostly one-bedroom and two-bedroom units that range in size from 624 sq ft to 904 sq ft, although there will also be three-bedroom units and four-bedroom penthouses.

The project is designed by UNStudio co-founder Ben van Berkel, who designed the Mercedes-Benz Museum in Stuttgart, Germany, among other projects.

Source: Business Times © Singapore Press Holdings Ltd

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Check misleading property sales ploys

Straits Times: Thu, Nov 24
TUESDAY'S report ('Bedok project draws long queue, but...') stated that property agents, students, retirees and women were in a queue at a property launch because they were paid to do so by the agents.

Such a ploy to create a perception of high demand is not new and has worked in previous launches. The clincher to this ploy is subsequent claims that the property is fully sold or that the sale has hit an 80 per cent sold rate with only a few units left.

Yet such claims of overwhelming demand are contradicted by actual tabulation by the Urban Redevelopment Authority (URA) or newspaper reports of caveats lodged.

Measures must be introduced to ensure that the public is not misled. Claims of take-up rate must be substantiated.

For instance, developers should be allowed to make sales claims only after the stamp duty and remaining option fee have been paid - providing clearer proof of an actual sale.

Agents of new launches also resort to persuading buyers to hand them a 'blank cheque' to obtain a better chance of booking a unit.

Authorities like the URA, the Council for Estate Agencies as well as the Law Society and the police should probe such practices because of the obvious possibility of fraud and other negative consequences.

The URA should also publish updates of expected supply coming on stream next year as many developers have since brought forward their completion date (temporary occupation period) fearing a global slowdown.

I have observed that projects slated for completion in 2014 or 2015 are now nearing completion, making earlier projections redundant.

David Lim

Source: The Straits Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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Wednesday, November 23, 2011

Capitol to be the epitome of luxury

Business Times: Wed, Nov 23
IT IS yet to be launched, but the property market already seems to be abuzz about the 34 uber luxurious residential units that will be built on the old Capitol site.

Attributing the residential tower's popularity to its exclusivity and stellar location, executive chairman of Perennial Real Estate Pte Ltd (Perennial), Pua Seck Guan, noted that a number of 'serious buyers' have already expressed their interest in the project despite not knowing the finalised launch price.

Centrally located and just a short walk from the City Hall Interchange MRT station, which straddles both the major North-South and East-West lines, the residential units of the Capitol Development Project by Capitol Investment Holdings Pte Ltd (Capitol) will boast views of the Marina Bay area as well as that of the Saint Andrew's Cathedral.

An average apartment will be around 3,000 square feet. In addition, two garden villas (over 9,000 sq ft) and five penthouses will also form part of Capitol's residential offering upon the development's completion.

Commenting on the generous-sized units, Mr Pua highlighted that due to the site configuration and the surrounding landscape, larger units would be better able to bring out the 'advantages' of the development.

Due to the exclusivity of the units, Mr Pua also remains unfazed by the site's 99-year leasehold status and remains confident of the demand and pricing of the apartments going forward.

Just yesterday, Capitol - a consortium comprising Chesham Properties Pte Ltd, Perennial (Capitol) Pte Ltd and Top Property Investment Pte Ltd - held a ground-breaking ceremony to mark the commencement of the Capitol Development, which involves the redevelopment of conservation pieces such as Stamford House, Capitol Building and Capitol Theatre into a high-end mixed development.

The 34 highly exclusive residential units will be attached to a six-star hotel wing, retail components as well as a theatre-cum-cinema, and is expected to become a landmark destination in the downtown area when it is completed.

Leading Japanese construction player, Shimizu Corporation, will be the developer for the Capitol Development project, following a $338.2 million contract win from Capitol.

The development is slated to be completed by the last quarter of 2014.

Source: Business Times © Singapore Press Holdings Ltd

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Analysts see strong demand for Bedok project

Business Times: Wed, Nov 23
ANALYSTS said that the indicative selling price of $1,150 to $1,400 per square foot (psf) at CapitaLand's newest condominium, Bedok Residences, is higher than expected - but they still expect a strong launch performance.

Sales of the project will begin today but a queue started to form at the showflat on Sunday night. As at yesterday, there were around 500 people standing in line, said marketing agent ERA Realty.

OCBC Investment Research analyst Eli Lee, who visited the showflat on Monday afternoon, checked with three agents and found that they will only hire a replacement to wait in line if his team committed to buy and submitted cheques.

'From these data-points, we judge that there is robust demand for the launch and expect a strong sales performance in terms of both units sold and average selling prices later this week,' Mr Lee said.

Kim Eng Research also noted that the lack of condominium supply in Bedok Town Centre probably allows the project to set a higher price.

The 99-year-leasehold, 583-unit Bedok Residences is part of an integrated development comprising homes, a shopping mall and a transportation hub linked to Bedok MRT station.

'Demand for such integrated projects is expected to be strong as they provide convenient access to key transport nodes and retail outlets, not to mention their limited quantity. After all, there are only so many MRT stations in Singapore,' said Kim Eng's analysts in a fresh note.

Take-up could also be boosted by foreign purchasers, said Ku Swee Yong, chief executive of International Property Advisor.

'There is likely to be a fair amount of foreign interest in this project, and around 20-30 per cent of the units could be bought by non-Singaporeans,' he said.

CapitaLand decided to forgo the traditional balloting system (which is largely based on chance) and instead opt for the queue system for Bedok Residences, so that selection and purchases can be done on 'fairer, first-come first-serve basis', said ERA. The property firm added that many people in the queue outside the project's showflat are paid to stand in line by agents who represent potential buyers with keen interest in the property.

'We expect most of the queuers to be students and retirees as most of the interested buyers are working adults holding full-time employment and therefore are unable to take leave from work to be in the physical queue themselves,' ERA said. 'Similarly, the agents themselves are unable to join in the physical queue as they will have appointments, such as HDB appointments and viewings to attend to.'

Some of the agents also have more than one customer keen to purchase a unit, in the project, ERA added.

Source: Business Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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Monday, November 21, 2011

Taiwan investor may buy Robinson Centre

Business Times: Mon, Nov 21
(SINGAPORE) Robinson Centre is close to being sold to a Taiwanese investor for nearly $300 million or about $2,240 per square foot of net lettable area, The Business Times understands.

Sources say the buyer is a unit of Homax Real Estate Corporation, a privately held property investment vehicle believed to be linked to a Liu family in Taiwan.

The 20-storey office block is being sold by Alpha Core Real Estate Fund, managed by Keppel Land unit Alpha Investment Partners. It is being sold through an expressions of interest (EOI) exercise which closed on Sept 8. CBRE handled the EOI exercise.

Alpha bought Robinson Centre for $145 million in 2006 from GuocoLand.

The building is on a site with a remaining lease of about 85 years. It has an impressive entrance lobby and 71 car park lots. Currently, about 97 per cent of the nettable area of about 132,200 sq ft is occupied. Major tenants include Mediterranean Shipping Company, Mercer and GuocoLand.

The price being paid by the Taiwanese party set to buy Robinson Centre is thought to reflect a net yield in the region of 3.5 per cent, based on the building's current rental income stream. The prospective buyer is looking at Robinson Centre as an investment - that is, with a view to collecting rental income from it - rather than for redevelopment, BT understands.

Robinson Centre was completed about 11 years ago. Investment sales of office blocks have gathered momentum since last month, say market watchers.

K-Reit Asia is buying parent Keppel Land's 87.5 per cent interest in Ocean Financial Centre on a 99-year leasehold basis for $2,600 psf, including income support. Excluding income support, the price is $2,380 psf.

Also, last month, Royal Group Pte Ltd, controlled by Asok Kumar Hiranandani and his son Bobby, acquired two adjacent 999-year leasehold office blocks at Phillip Street in the Raffles Place area for a total of about $283 million, or an average price of $2,350 psf. One Phillip Street was sold for $2,050 psf and Commerce Point (at 3 Phillip Street) at $2,490 psf.

Another deal last month involved the sale of a 50 per cent stake in a company whose sole asset is the 12-storey freehold Finexis Building, a smallish office block at 108 Robinson Road.

The transaction was based on the office block's latest valuation - in July - of $110 million or about $2,043 per square foot on its total strata area of 53,830 sq ft, which is understood to be close to the building's net lettable area.

Source: Business Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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Latest sale sets another peak at The Marq

Business Times: Mon, Nov 21
(SINGAPORE) SC Global Developments has been able to set a new record price at The Marq on Paterson Hill once every three months since May this year.

In the latest transaction, a 3,003-sq-ft, four-bedroom apartment in the Premier Tower is understood to have sold for nearly $6,850 per square foot (psf) or about $20.5 million.

This tops the previous record set in August for $6,394 psf, which in turn broke the May record of $5,842 psf. In all three cases, the units are of the same size and in the same tower.

The latest record comes fresh on the heels of news last month of a world-first collaboration between Hermes and SC Global. Designers from the French luxury house will fit out a 6,232-sq-ft, five-bedroom apartment in the Signature Tower at The Marq, with a combination of furniture, fabrics, rugs, carpets, wallpaper and made-to-measure upholstered items. The world's first Hermes apartment is due to be ready next year and will be kept by SC Global for private functions and Hermes exclusive events. It will not be for immediate sale.

The Marq, a freehold project which received Temporary Occupation Permit in January this year, comprises two 24-storey towers with a total of 66 units.

Still, despite SC Global hitting the high notes with The Marq, the luxury apartment market in Singapore is generally quiet compared to its heyday in 2007, say market watchers.

'The majority of buyers in this segment are foreigners. Singaporean buyers typically aim for Good Class Bungalows, since the absolute price for a GCB is quite similar to that for a luxury apartment in a project like The Marq,' says Jones Lang LaSalle's head of residential and national director Jacqueline Wong.

'It is foreigners, who don't qualify to buy a GCB, who are the main players looking at luxury condos right now. Their interest in buying property in Singapore has never dissipated; their interest is still there. But due to the global uncertainty including European debt crisis, everybody's more cautious, more selective now. They want value buys or fire sales - but these are difficult to find in Singapore as our high-end developers are deep-pocketed,' added Ms Wong.

Market watchers note that SC Global has been able to achieve benchmark prices at The Marq despite thin sales volumes generally in the luxury residential sector.

Ms Wong points to the developer's track record of consistently improving its product in terms of quality, design and concept. 'It has always reinvented itself. Take The Marq, for instance. The Signature Tower has an interlocking design for each of the apartments (which are over 6,000 sq ft) so that it feels like a penthouse even for units on lower floors - with double-volume ceiling height in the living and dining area and a private pool for each apartment.

'(SC Global chairman and chief executive) Simon Cheong has paid careful attention to the project's details even in the common areas like the lobby. There's a club lounge/ library where they serve drinks, and the gym is fully equipped. There's a concierge service, and sculptures and other artwork on display in various parts of the development.'

Source: Business Times © Singapore Press Holdings Ltd

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Sunday, November 20, 2011

Bookings for new HDB flats up 32% in past year

Straits Times: Sat, Nov 19
HOME buyers in the red-hot public housing market have been snapping up Housing Board flats in the past year on the back of Singapore's swift economic recovery from the financial crisis.

The resale market, however, was hit by the Government's cooling measures to calm the market; this was reflected in the fall in resale flat transactions.

The HDB annual report for the year ended March, released on Thursday, showed that buyers booked 17,419 flats - up 32.2 per cent from 13,177 flats booked in the previous financial year.

Applications by buyers of resale flats, however, fell 23.5 per cent to 30,061 from 39,320 previously.

To respond to the strong demand for homes, HDB launched 12 build-to-order sales exercises offering 17,294 flats in the year - a 54 per cent jump from the 11,212 units launched in the previous financial year.

Higher costs for purchases of land and construction of public housing led to a rise in capital expenditure to $5.2 billion, from $1.8 billion previously.

Overall net deficit, however, fell to $143 million, compared with $907 million incurred last year. This was due to the surplus revenue generated from the HDB's commercial and industrial activities.

In a note in the report, HDB chief executive Cheong Koon Hean said the Housing Board has the potential to do more.

Acknowledging the one year since she took over at the helm, she said: 'I hope to build on the depth of knowledge that has accumulated over five decades... and make further inroads.'

Beyond the existing architecture, design and innovations, HDB is also 'looking at injecting greater social and economic value where residents will be actively engaged in shaping the future of their town', she added.

Source: The Straits Times © Singapore Press Holdings Ltd.

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The big draw of old Tiong Bahru

Straits Times: Sat, Nov 19
THE days of bargain buys in Tiong Bahru are long gone - the 1,000 sq ft pre-war flat that cost about $680,000 three years ago would set buyers back about $1 million now.

The astonishing price hikes are being driven by the transformation of the once-sleepy neighbourhood into a popular enclave with the kind of amenities younger buyers seek.

While the area contains a mix of private and public housing, there are 27 blocks of private pre-war homes with conservation status that are especially popular.

Unlike the neighbouring public flats built by the Singapore Improvement Trust, owners of these pre-war conservation apartments are not subject to HDB eligibility rules.

The appeal is not immediately obvious, despite the proximity to the Central Business District and a well-established network of amenities.

Most of the pre-war homes have less than 60 years left on their 99-year leases and are contained in low-lying blocks that range between two and five storeys high.

There are no lifts or modern facilities like rubbish chutes, and like other older developments, these blocks do not come with facilities like pools, gyms or security guards.

But this has not deterred prospective owners and tenants.

Ms Tan Kar Woei, a procurement engineer who has been living in a four-bedroom apartment in Guan Chuan Street since 2009, told The Straits Times: 'My husband and I have lived here for a long time and we're familiar with the Tiong Bahru estate.

'Other than being near our families, it reminds us of a different place and time when housing estates in Singapore weren't so built up.'

Young professionals and expatriates who have also seen the appeal now make up a size- able portion of the neighbourhood's demographic and the area has seen an infusion of businesses, with bookstores, art galleries and coffee joints sprouting up over the past year.

Anecdotal accounts suggest that despite the shorter leases, some owners are able to secure longer-term financing for these pre-war flats, a sign of the area becoming more established.

The buzz has also proved irresistible to investors.

'Around 90 per cent of the calls I get about properties in the area are from investors. But two to three years ago, it was a 50-50 split between investors and buyers looking to live there,' said Mr Alvin Yeo, a property agent who deals primarily in Tiong Bahru homes.

Accurate figures on prices and rents of the pre-war apartments are difficult to piece together, but agents say they have seen an increase in sales activity and listings.

Between 2005 and 2007, there were no more than three transactions a month, but now there can be up to 10.

Recent transactions have shown the staggering jump in prices.

Urban Redevelopment Authority (URA) data shows a 1,141 sq ft flat in Yong Siak Street sold for $668,000 last September, which translates to $585 per sq ft (psf).

It is unclear if the apartment was then renovated but it changed hands again in September this year for $1.27 million or $1,113 psf, almost double the initial sale price.

Rents for a typical 1,000 sq ft unit can hit $3,500, or $3.50 psf per month (psf pm), Mr Yeo said, up from the average $3 psf pm from three years ago while shop spaces are going for more than $7 psf pm, up from around $4 psf a year ago.

Prices of newer private homes nearby have benefited a great deal from the demand for the pre-war homes.

URA figures indicate that the median price of flats at The Regency at Tiong Bahru, a condominium in Chay Yan Street, was $997 psf in the second quarter of 2008. Fast forward to the second quarter of this year and it was $1,486 psf.

While some real estate agents have described homes in this area as slightly more resilient to recession, property experts beg to differ, saying that like the rest of the market, the growth trend is dependent on how Singapore's economy fares within the next year.


Source: The Straits Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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Property deals, loans feel effect of Jan measures

Business Times: Sat, Nov 19
THE number of property deals and quantum of new housing loans fell after the last round of cooling measures on Jan 13, says the Monetary Authority of Singapore (MAS) in its latest Financial Stability Review report.

The report, released yesterday, noted that new housing loans fell to $12.4 billion in Q3 2011, from $13.4 billion in Q1, while outstanding housing loan growth has eased, to 18 per cent year-on-year in Q3, from 23 per cent in Q4 2010.

And the share of outstanding housing loans with loan-to-value ratios above 80 per cent has fallen from a peak of 17.3 per cent in Q3 2009 to 4.9 per cent in Q3 2011 - the lowest since 2004.

The January 2011 policy action also led to a sharp 16 per cent drop in the number of property transactions in Q1 2011. Transactions recovered in Q2 2011, but have since eased to an average of about 2,600 units per month in Q3 2011 - about 19 per cent lower than the monthly average in 2010.

The key drivers behind the moderation are decreases in both resale and sub-sale activities.

Compared with 2010, average monthly resale transactions in Q3 2011 have slowed by about 36 per cent. Sub-sale activities, as a share of total transactions - seen as a proxy for speculative activity - were around 7 per cent in Q3 2011, lower than the quarterly averages of about 11 per cent and 9 per cent observed in 2009 and 2010 respectively.

'The policy measures taken by the government appear to have dampened the momentum in the private residential property market somewhat,' MAS said.

The central bank also noted that the series of measures to cool the property market - announced in phases from September 2009 to January 2011 - appear to have had a tempering effect on housing loan growth.

But despite the global economic uncertainties, new sales of private residential units by developers remain firm, MAS said. 'Global liquidity conditions remain flush and the search for yield is likely to continue. In addition, Singapore may be viewed as a safe haven which could attract investments into the residential property market.'

New sales activity has remained relatively firm, except for the contraction immediately following the January 2011 measures. Cumulative new sales for the first three quarters of this year reached about 12,300 units, up slightly from the 12,100 units sold over the same period last year. New sales for the full year are expected to match 2010's volume.

Nevertheless, the risk of market volatility in the medium term has risen, on the back of the risk of a sharper-than-expected global economic slowdown and the potential for housing supply in the pipeline to build up, MAS warned.

It reiterated that the government will continue to be vigilant in monitoring developments in the property market and will, if necessary, adopt additional measures.

Analysts have turned more bearish on the private housing market in recent weeks as unsold inventory builds up.

Daiwa Capital Markets this week downgraded its view on the sector to 'negative' from 'neutral', and now expects a residential market downturn from end-2011 to end-2014 with prices declining by 22-26 per cent.

Daiwa's analysts warned that 'structural issues' (rising levels of unsold inventory due to robust launch schedules coupled with a formidable pipeline of completions) will continue to depress rents and capital values.

Nomura Equity Research also said in a new report yesterday that it foresees a significant inventory build-up in the private housing market in 2012.

The firm noted that the build-up in unsold inventory of non-landed units in launched private residential projects accelerated in Q3 2011, rising 9.8 per cent quarter-on-quarter to 4,841 units. This compares with an increase of 8.4 per cent quarter-on- quarter in Q2. The unsold inventory is now 43 per cent higher than the 3,383 units at the end of 2010.

Source: Business Times © Singapore Press Holdings Ltd

Team Marshe
Martin Koh/ Sherry Tang
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Saturday, November 19, 2011

For Rent: The Centris @ Jurong Point, 2,188sqft, Most Convenient

PropertyFOR RENT - The Centris @ Jurong Point

Private Condominium  |  S$7,000 Negotiable
Sherry Tang (R020241C)
Sherry Tang (R020241C)
(+659844 4400
Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd
DTZ Debenham Tie Leung (SEA) Pte Ltd



PROPERTY ADDRESS:The Centris @ Jurong Point
PROPERTY TYPE:Private Condominium
DISTRICT / ESTATE:D22 - 24 (West)
ASKING PRICE:$7,000 Negotiable
PRICES ARE IN:Singapore Dollar (SGD)
BUILT-IN AREA:2188sqft
Floor Area: 2,188 sqf  ( 243 sqm)
Bedrooms: 4 (2 with Attached Bathrooms)
Bathrooms: 4

Unit Features:
-- Maid’s Room
-- Utility Room
-- Roof Terrace

Renovation: Designer D├ęcor
Unit Condition: Beautiful
Unit Level: Penthouse
Unit Condition: Brand New
Current Status: Owner occupied
Main Door Facing: North-West
Living Hall Facing: South-East
Address: 65 - 87 Jurong West Central 3
District: 22
Total Units: 610
Developer: Prime Point Realty Development Pte Ltd
Built: 2009
-- 50m Lap Pool / Kid’s Pool / Fun Pool
-- Jacuzzi / Hot Tubs
-- Club House
-- Gymnasium
-- Outdoor Fitness Station
-- Multi-Purpose Court
-- Playground
-- Tennis Court
-- BBQ Pavilion
-- Basement Carpark
-- 24-Hour Security

Amenities Nearby:
-- MRT- Boon Lay EW27 (0.18km)
-- MRT- Pioneer EW28 (0.95km)
-- Jurong Point Shopping Mall (0.10km)
-- NTUC Fairprice - Jurong Point (0.10km)           
-- Giant - Paradiz Centre (0.22km)
-- Sheng Siong Hypermarket
-- River Valley High School (0.54km)
-- Jurong West Primary School (0.78km)
-- Boon Lay Garden Primary School (0.86km)
-- West Grove Primary School (0.90km)