More mid-tier and high-end project launches over the next 9 months...

By The Folks @PropTalk - September 22, 2010 No Comments

The BT today has reported that developers plan to launch another 34 residential developments with more than 8,800 units by June 2011. This is according to data compiled by Knight Frank.

Most of the new projects rolled out will be mid-tier and high-end developments. Knight Frank’s list shows that 21 out of the 34 possible launches are located in the upmarket districts of 1, 2, 4, 9, 10 and 11.

Developers that BT spoke to trust that the latest round of government measures to dampen demand for private homes and HDB flats announced on Aug 30 will impact mostly mass market homebuyers.

They are hopeful that new launches, which are mostly for homes in the mid-tier, high-end and luxury segments, will see healthy take-ups.

The large number of upcoming mid-tier and high-end developments is not a reaction to the latest round of property measures, developers and analysts said. Rather, having pushed out numerous projects targeted at upgraders, many property groups are left with pending mid-tier and high-end project launches.

But, many developers did not want to commit to a firm launch date – even though in some cases, showflats are ready and brochures have been printed.

CapitaLand recently said that it will go ahead with the launch of its new 1,715-unit condominium on the former Farrer Court site in Farrer Road by the end of this year.

The launch of the Farrer Road project will be closely watched as it is the largest single residential development likely to be offered to homebuyers in the near future.

CapitaLand is likely to hedge its bets by rolling out the development in phases, similar to what City Developments and the Hong Leong Group did with their 642-unit NV Residences in Pasir Ris.

EL Development also said that he intends to launch his 115-unit freehold project on the site of the former Diamond Tower in Jalan Rajah, in the Balestier area, in Q1 2011.

But despite the more bullish outlook for the mid-tier and high-end segments, several large suburban projects will be launched soon.

Esparina Residences, a 573-unit executive condominium (EC) project at Sengkang by Frasers Centrepoint and Lum Chang Building Contractors, will be launched next month.

Major private suburban launches in Q4 2010 include Hoi Hup Sunway Property’s 473-unit Vacanza @East at Lengkok Tujoh; Far East Organization’s 214-unit The Lanai at Hillview Avenue; and Keppel Land’s yet-unnamed residential development at Lakeside Drive, which will have more than 600 units.



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