March 26, 2010
Reasonable pricing and small unit sizes could be reasons for its popularity
The 76 Shenton condominium in the Central Business District sold out in one day during its preview. — PHOTO: HONG LEONG HOLDINGS
By Esther Teo
W brand residences makes S’pore debut
A NEW upscale condominium that is part of the trendy ‘W’ boutique hotel brand has made its debut in Singapore.
The Residences at W Singapore Sentosa Cove, which boasts 228 apartments, will be priced from $2,500 to $3,000 per sq ft (psf), said City Developments (CDL) at the launch yesterday.
The record in the gated island enclave is held by Seven Palms, where nine units went for $3,100-$3,430 psf late last year. Prior to that, the record was held by Lippo Group’s Marina Collection, where units fetched a median price of $2,734 psf in late 2007.
Buyers keen on W will have to pay at least $3.4 million for the smallest unit of the seven, six-storey blocks. There are two- to four-bedroom units and penthouses, all with 99-year leases, with sizes from 1,227 sq ft to 6,297 sq ft. About 40 per cent of these are two-bed and the smaller three-bed.
The development forms part of an integrated project that comprises a 240-room W Singapore Sentosa Cove hotel and 86,000 sq ft of gross commercial space for restaurants and shops. The W residences will open first, followed by the hotel and then the shops, probably by 2012.
CDL, which is releasing 60 units for the current soft launch, was behind the branded St Regis Residences in Cuscaden Road, also a collaboration with Starwood Hotels & Resorts Worldwide. CDL managing director Kwek Leng Joo said that W was targeted at ‘global jetsetters’.
The firm’s group general manager, Mr Chia Ngiang Hong, said the project will be marketed overseas – in Hong Kong, Shanghai and Jakarta.
There are now nine completed W residences worldwide, eight of which are in the United States. Another 13 are in the process of being developed, said Starwood asia-pacific president Miguel Ko, with four being built in Asia, including the one at Sentosa.
Elsewhere on Sentosa, Ho Bee began the preview for its Seascape condo yesterday, and Lippo is relaunching the Marina Collection today at a price of around $2,500-$2,700 psf.