Phase 1 Of GuocoLand's Ascot Park All Sold

Source : The Business Times, July 28, 2009

THE first phase of Guoco- Land's Ascot Park project in Nanjing, China has been fully sold, the group said yesterday.

Popular: An artist's impression of GuocoLand's Ascot Park project in Nanjing, China. With Phase 1's 594 units sold out at an average price of 7,100 yuan per sq m, Phase 2's 518 units will be launched in a few months.

Phase 1 of Ascot Park - comprising 594 units with a mix of 2 and 3-bedroom units in sizes ranging from 87 to 130 square metres - has been sold at an average price of 7,100 yuan (S$1,500) per sq m. Phase 2, comprising the remaining 518 units, will be launched in a few months.

The development caters to a niche market segment for units with bare finishes, enabling homebuyers to fit out their homes according to their preference.

Construction of Phase 1 is expected to be completed by the end of this year.

Located 14 kilometres from Nanjing city centre, the Balinese-themed development includes a man- made lake, a clubhouse with an extensive range of amenities, and a multi-purpose commercial centre with a selection of eateries and retail stores.

The project is on a 90,000 sq m site with a total gross floor area of about 240,000 sq m. GuocoLand (China) group MD Violet Lee said: 'The strong sales for Phase 1 affirm the demand for our niche products which provide a quality setting with lush landscaping for our homebuyers to fit out their individual units to their liking. We are confident that Phase 2, to be launched in the next few months, will also be well received.'