THE SCALA: More than 75% sold after first day of launch!

By The Folks @PropTalk - July 29, 2010 2 Comments

The ST today reported that more than 75% of the total units at THE SCALA, a leasehold project developed by Hong Leong Holdings, were sold on the first day of its public launch yesterday.
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Demand for this 99-year leasehold project near Lorong Chuan MRT station was so strong that balloting was needed to sort out who get to enter the showflat first. By late morning yesterday, more than 800 property agents and potential buyers who had submitted blank cheques had packed the balloting tent at the condo site in Serangoon Avenue 3. This is the biggest turnout at a mass market public launch since Trevista in Toa Payoh and Hundred Trees in the West Coast area were launched late last year.
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A private preview was held on Tuesday for Hong Leong staff and buyers who had registered their interests with the developer. About 150 units were sold then.

This means more than 350 of the 468 units in the project were already sold, of which about 200 went yesterday.

Units at THE SCALA, in five residential towers, are between 474 and 2,142sqft each and range from one- to four-bedroom apartments. They were sold at an average of $1,150psf.

In terms of total price, the smallest units were priced from $600,000 while the four-bedders were from $1.5million.

Hong Leong said the buyers, mainly locals, comprised a good mix of HDB flat upgraders and investors.

Most buyers listed as key selling points the projects close proximity to the newly opened Lorong Chuan MRT station and the range of amenities such as the NEX mega mall due to be completed next year. Some buyers also cited nearby schools such as the Australian International School and the Stamford American International School. They said this could mean high rental yields.

THE SCALA is expected to be completed in the first quarter of 2014.

$1,150psf for a 99-year project in District 19? The wife and I really hope that the Government is right, i.e. there is no property bubble yet...

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2 comments to ''THE SCALA: More than 75% sold after first day of launch!"

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  1. Does any one aware that THE SCALA is a 'APARTMENT' Status project and not condominium as marketed by the agents?

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  2. What's the difference between having an 'APARTMENT' status vs a 'CONDOMINIUM' status? I've always wondered... Both are strata-titled property right..

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