New projects launching this week: The Hedges & The Boutiq

By The Folks @PropTalk - April 12, 2011 No Comments

According to The Business Times today, 2 new project launches are expected this week:

The Hedges Park Condominium
Tripartite Developers – a joint venture between Singapore’s Hong Leong Group, City Developments and TID – is expected to begin sales later this week for its Hedges Park Condominium along Upper Changi Road.

The 99-year leasehold project’s average price is likely to be in the $850 – 900psf range, say market watchers.

Units in the nearby freehold Ferraria Park Condo, which was completed in 2009, have changed hands in the high-$800psf range in recent months.

Hong Leong is behind seven large condo projects in the location over the years on a huge tract of land acquired mostly in the 1970s by the Group – Azalea, Ballota, Carissa, Dahlia, Edelweiss, Ferraria Park, and The Gale condos.

The Hedges, however, will not be part of that historic land tract. Instead, Tripartite will be developing the 8-storey project, which will have 501 units, on a site clinched at a state tender in April last year for $321psf ppr.

The Hedges will have one- to four-bedroom units and penthouses. The one-bedders are 484sqft although ground-floor units with a private enclosed space are larger at 570sqft.

Two-bedroom units start from 764sqft; three-bedders begin from 1,000sqft, while four-bedders are 1,345sqft, though four-bedders with a private enclosed space are 1,538sqft.

Interestingly, the URA is scheduled to launch for tender under the confirmed list later this month another 99-year leasehold condo plot in the location, next to Ferraria Park. The 2.7-hecture (about 290,600sqft) site can generate about 380 units.

The Boutiq
Developer Heeton is expected to rollout The Boutiq this week. This is a development at Killiney Road on the former Mitre Hotel site.

The freehold District 9 project will have 130 units in two 10-storey blocks.

All units in the project – including penthouses – will have either one or two bedrooms. The average price is expected to be in the $2,200 - $2,300psf range.


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