At the preview alone, we sold close to half of the 244 condominium units.
By the end of the first day of sale, we chalked up sales of over 70 per cent of the residential
units, thanks to a solid well designed freehold product and an excellent location.
In an interview with Channel News Asia, Mr Kam Tin Seah, Senior General Manager (Investment & Strategic Development) at UOL, said: "We initially planned to maybe have more than one phase at launch. But because of the good take-up at the soft launch, we have made the decision to launch the whole project.
"It is a very well associated kind of Tanjong Katong address. So you would expect the core demand to still come from this immediate neighbourhood."
Located at the junction of Tanjong Katong Road, the site used to house the former Lion City Hotel and Hollywood Theatre.
Lee Sze Teck, Senior Research Manager of DWG, told CNA said: "There is a certain growth being ramped into the area by the government, so people might buy into the growth story in the area. Also this is a freehold project, and it is a mixed development with retail shops and residential units."
The overall project is designed by SAA Architects, consecutive winner of BCI Asia Top 10 Architects from 2009 and 2012 with the interior spaces in Katong Regency conceptualised by Ministry of Design, two-time recipient of the prestigious President’s Design Awards.
The apartments will sit on top of the ONE KM retail mall which will have a total net lettable area of 210,000 square feet, with over 150 tenants. ONE KM is conceived as the destination for lifestyle and knowledge, integrating edutainment, gastronomy, lifestyle experiences for the affluent family and “tweens,” the age group between 8 and 14 years.
There will be a good selection of niche enrichment schools offering classes in dance, music, speech, drama, language, cookery, creative thinking, and brain development. They will be complemented by stores offering IT/electronic gadgets, gifts and novelties, fashion accessories, and education-related products.
In the past few years, UOL has been successful in developing several award-winning residential projects including Nassim Park Residences which was named by the South East Asia Property Awards 2011 not just the Best Condominium Development in Singapore but also the Best Condominium Development in South East Asia. Another luxurious condominium project Duchess Residences won the prestigious FIABCI Singapore Property Awards 2011 in the Residential (Low-rise) category.
