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All 273 units of SPH condo project sold in 30 hours - Jan 30, 2007 (BT)

BackJan 30, 2007

The Straits Times / The Business Times News On SPH

All 273 units of SPH condo project sold in 30 hours

Sky@eleven achieved average price of $975 psf, with the highest price paid at $1,200 psf.


Jan 30, 2007
The Business Times

(SINGAPORE) Singapore Press Holdings (SPH) has sold all 273 units at its freehold condo Sky@eleven off Thomson Road.


Selling point: Buyers who turned up at the showsuites were drawn to the spaciousness of the units, which range from 1,851 to 2,820 square feet

The media group said in a statement that the four-tower luxury project was snapped up within 30 hours after its soft launch on Sunday evening. It achieved an average price of $975 per square foot (psf), with the highest price recorded at $1,200 psf.

SPH said one major selling point of its maiden condo development was the attractive pricing.

'Buyers who turned up at the showsuites were also drawn to the spaciousness of the units, which range from 1,851 square feet to 2,820 square feet. The apartment types include mostly four-bedroom and three bedroom + study,' the SPH statement said.

The condominium is being developed by wholly owned subsidiary Times Development Pte Ltd. Times Development chairman Sum Soon Lim said: Sky@eleven truly offers value for money given the luxury lifestyle concepts it offers.'

In its statement, SPH also noted that the overwhelming response to Sky@eleven was not unexpected given the current bullish property sector, 'particularly the popular demand for luxury homes in prestigious districts'. SPH said the number of staff who bought units in the project was not significant compared to the number of buyers from the public. 'There is no discount for SPH staff and SPH board of directors,' it added.

Located at Thomson Lane, the 43-storey Sky@eleven will be the tallest development in the area, offering views of the reservoirs and the city skyline.

The project, which could be completed as early as end-2009, was marketed by Knight Frank.