Over 200 Marina One units sold, mostly to bulk buyers

RESIDENTIAL MARKET

Over 200 Marina One units sold, mostly to bulk buyers

Slightly more than 200 of the 242 units released so far at Marina One Residences have been sold. Most of the units sold are one and two-bedders.

The developer, Khazanah Nasional and Temasek Holdings tie-up M+S Pte Ltd, began balloting for buyers of three or more units on Oct 3. Balloting for those purchasing two units began on Wednesday.

“On October 10, 2014, we will start balloting for single-unit purchasers who have submitted cheques during the preview period,” said Kemmy Tan, chief operating officer of M+S.

Prices in the 99-year leasehold condo range from S$1,960 psf to S$3,100 psf after an early-bird discount of 10 per cent for those who registered during the preview (Sept 13 to Oct 5).

The public launch, for those who did not register during the preview, will begin on Saturday.

Marina One Residences comprises 1,042 apartments housed in two towers of 34 storeys each. The 242 units released are in the Park Tower.

“We had intended to release 150 to 200 units in the first release to our preview prospects ahead of our official sales to the general public. However, due to overwhelming response, we released 242 units of which we have achieved a sales rate of over 85 per cent to multi-unit purchasers who have been accorded priority to purchase,” Ms Tan said in a statement.

Source: Business Times – 10 October 2014

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