Friday, August 1, 2008

CapitaLand Plans Condo Launch

Source : The Business Times, August 1, 2008

CapitaLand plans to launch in second-half 2008 a freehold condo named Urban Resort with about 70 units on the Silver Tower site in Cairnhill. The average price will definitely be above S$3,000 psf, CapitaLand Residential Singapore CEO Patricia Chia told reporters after the group announced Q2 net earnings.

'I will be quite disappointed if it's below S$3,000 psf,' CapitaLand Group president and CEO Liew Mun Leong said.

The property giant has also sold 11 of the 40 units released so far at Latitude at Jalan Mutiara in the River Valley area at an average price of S$2,400 to S$2,500 psf. Over at Tong Watt Road, it has sold close to 30 of 80 units released recently at The Wharf Residence; prices range from S$1,500 to S$1,900 psf.

The project has a total 127 units. Latitude comprises 127 units in total.

CapitaLand leads a consortium that will redevelop Farrer Court. -- KALPANA RASHIWALA BT NEWSROOM

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