Singapore development sells 140 condo units in three hours

At the launch of Singapore’s The Tre Ver condominium development on Saturday, 140 units sold within three hours, making up 70% of the total available in Phase 1.

The 200 units are part of a 99-year leasehold condominium located in Potong Pasir, Singapore, which has been developed by UVD and designed by Woha Architects in a 50-50 joint venture between UOL Group and United Industrial Corporation (UIC).

UOL Group is one of the largest property companies in Singapore while UIC is a construction company whose projects include Alex Residences, Mon Jervois and V on Shenton.

The Tre Ver development is set to be completed by the end of 2022 and will comprise a total of nine blocks of between eight and 20 storeys with a total of 729 units, as well as a two-storey carpark, basement car park, pool, spa and other amenities.

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UIC says the development will “preserve most of the existing rain trees lining the riverfront, with lush landscaping that blends seamlessly with the waterfront promenade”. The company added that the development is “poised to benefit from the government’s initiative to transform the river into a lifestyle hub”.

The first phase buildings sold at an average of over $1550 per sq ft, with a four-bedroom property costing over $2mn.

Phase 2 of the development was released yesterday and consists of 150 units in total, but it is not yet clear how many of these were snapped up.

Jesline Goh, senior general manager for asset management and marketing at UOL, said according to Straits Times: “We believe the buyers saw the strong value proposition of the product and the realistic pricing.

“Riding on this success, we are immediately releasing Phase 2, with more units offering dual view of the amenities and the river.”

 

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