FOUR condominiums will be built where the former Waterfront View estate in Bedok Reservoir Road used to be.
WATER FRONTAGE: The first of the four projects, Waterfront Waves, may fetch prices of up to $850 psf, says Mr Ku. -- PHOTO: FRASERS CENTREPOINT
The first will be launched in the first quarter of next year, said developers Frasers Centrepoint and Far East Organization yesterday.
It will be called Waterfront Waves and have 405 units, of which more than half will be three- and four-bedroom apartments. More than 60 per cent of the units will also have reservoir views, the developers added.
The Straits Times understands that the other three condos will also have 'Waterfront' in their names and are likely to be of similar sizes.
Together known as the Waterfront collection, the four-condo development is the largest in the area to have a direct water frontage, the developers said. In all, it could have 1,600 units.
The developers are also in talks with the Public Utilities Board about 'enhancing the neighbourhood's communal parks and water bodies'.
Although property consultants will not disclose prices for Waterfront Waves, they believe prices may start from $700 per sq ft (psf).
Mr Ku Swee Yong, director of marketing and business development at Savills Singapore, said units on lower floors with no water views could fetch that price.
On higher floors, prices could go up to $850 psf, he added.
Frasers Centrepoint and Far East jointly bought the former HUDC site last year for about $240 psf of gross floor area.
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