CITY Developments Ltd (CDL) has sold 38 units at its Cliveden condo on the former Kim Lin Mansion site at Grange Road at an average price of $3,600 per square foot. About 90 per cent of buyers were foreigners. The highest price achieved was $4,162 psf for a four-bedroom apartment.
The Cliveden: The 24-storey freehold development will have three single towers and a twin tower. Forty-four units from two towers have been released for sale and CDL is considering releasing some units from another towerCDL said yesterday that it has released 44 units from two towers in the freehold development. The condo comprises 110 units in all - comprising three-bedders (2,153 sq ft), four-bedroom apartments (2,842 sq ft) and penthouses ranging from 4,392 sq ft to 6,028 sq ft.
The project was showcased during road shows in Hong Kong and Indonesia over the past two weekends. ‘CDL has also started to present this well-appointed freehold residence to specially invited guests in Singapore,’ the listed developer said yesterday. CDL said that it is considering releasing some units from another tower for sale. The 24-storey project will have three single towers and a twin tower.
CDL bought the Kim Lin Mansion site in late 1999, during the last bout of en bloc sale fever, for $996 psf per plot ratio, including development charges. However, the ensuing property slump led CDL to hold off redeveloping the site until now.
Last year, the listed property group controlled by Singapore’s Kwek family bought the Lucky Tower site diagonally opposite the Kim Lin plot for $1,134 psf ppr.
On the stock market, CDL ended 10 cents lower at $16.80 yesterday.
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