The Boutiq: 75% of unit released sold at soft launch

By The Folks @PropTalk - April 21, 2011 1 Comment
HEETON Holdings, KSH Holdings and TEE International have sold 39 apartments at their high-end Killiney Road residential project, The Boutiq, at an average price of $2,350psf.
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The companies said yesterday that 75% of the 52 units released in the first phase of sales have been sold in a soft launch. The freehold District 9 project near Somerset MRT station has 130 units in all.

Heeton chief operating officer Danny Low said that the developers are now giving buyers a discount of about 10% off the list price. Prices will go up when subsequent phases are launched as the discount is scaled back and more choice units are released.

“With its prime location, five-star hotel facilities such as porte-cochere (coach gate), concierge, welcome lounge, and well-designed lifestyle spaces, The Boutiq will be a compelling proposition for young professionals and cosmopolitan globe-trotters – anyone who appreciates the finest things in life,” said Mr Low.

The architectural design of The Boutiq draws inspiration from chic boutique hotels around the world. The project’s architect is Broadway Malayan Asia.

Units in The Boutiq range from 506sqft to 2,853sqft in size. The bulk of the units are one and two-bedroom apartments.

Heeton, KSH and TEE hold stakes of 45%, 35% and 20% respectively in the development project. The three partners bought the site of the former Mitre Hotel in 2009 for $121 – 122 million – or almost $1,100psf ppr including a development charge.
*Source: The Business Times


1 comment to ''The Boutiq: 75% of unit released sold at soft launch"

  1. Went to see the showflats. Superbly efficient layout cos no bomb shelter, no planters and no bay windows. Only drawback is that there are no views cos it is a low-ish rise development surrounded on all sides by other developments.