SPH to launch Sky@eleven condo next month - Jan 19, 2007 (BT)

BackJan 19, 2007

The Straits Times / The Business Times News On SPH

SPH to launch Sky@eleven condo next month

Thomson project expected to be offered at $900 to $1,200 psf: sources.

By Uma Shankari
Jan 19, 2007
The Business Times

(SINGAPORE) The Sky@eleven freehold Thomson condominium is to be launched by Singapore Press Holdings (SPH) early next month, it was announced yesterday.

Sources said that apartments in the 273-unit project in District 11 are set to be offered at $900 to $1,200 per square foot (psf).

Sky@eleven: The bulk of the units in the four-tower 43-storey development will be four-bedroom units ranging from 2,271 sq ft to 2,820 sq ft

The bulk of the units in the four-tower 43-storey development will be four-bedroom units ranging in size from 2,271 sq ft to 2,820 sq ft, although one entire tower will consist of 3+1 bedroom units of 1,851 sq ft each. Sky@eleven will also have eight penthouses, ranging from 3,800 sq ft to 5,600 sq ft.

Property firm Knight Frank, which is marketing the project, said that the penthouse units are likely to fetch higher psf prices than the rest of the apartments. Interest for the penthouses has been especially strong, the estate agency said.

SPH said that units in the development could be launched in phases.

Michael Chin, SPH's executive vice-president for Corporate Development & Times Properties, said about 20 to 25 per cent of buyers are expected to be foreigners. SPH plans to market the project in Hong Kong and Jakarta at around the same time it will be launched in Singapore, he said. Showflats are expected to be ready by the end of this month.

Mr Chin said that total construction cost for Sky@eleven would come to over $100 million. The site is worth some $200 million.

Work on the development is already under way, and SPH will call for a tender to appoint the main contractor next week. The main construction contract will be awarded next month, and major construction work is expected to start in April, Mr Chin said. The whole project will be completed by the end of 2009, he added.

SPH declined to say what the launch price would be, but the group said that the units will be 'attractively and competitively priced'.

Sum Soon Lim, SPH director and chairman of the Times Development subsidiary, said: 'SPH's condo offers great value given its prime location in District 11, spacious units, grand views and excellent design and top-notch finishes.'

The project comes with two sky terraces, complete with gymnasiums and landscaped gardens. Other facilities include a 50-metre lap pool, a leisure pool with a jacuzzi, a fun pool and playground for children, and a designer-style clubhouse.