EL Development told The Straits Times that the average selling price for units at the 752-unit Parc Riviera will be about $1,250 per sq ft.
“We want to price (the units) low at the start to attract early-bird buyers… If demand is there and the market improves, maybe we can consider raising the price slightly,” according to Mr. Lim Yew Soon, a managing director from EL Development.
Parc Riviera consists of two 36-storey towers with a four-storey car park. It is near the Pandan Reservoir and park connector. Some great amenities include are panoramic deck with Jacuzzis, garden deck and pavilions on the rooftops of both towers. Its unit sizes range from 463 sq ft for a 1-bedroom unit to 1,711 sq ft for the largest 4-bedroom unit. According to the EL Development, 480 of the 752 units (64%) are 1- and 2-bedroom apartments.
Hao Yuan Investment’s Queens Peak is also a 99-year leasehold project that appears to have a better location, being near the Queenstown MRT station. It has 736 units, comprising 1- to 5-bedroom mix of apartments and penthouses. The sizes of the units range from 431 sq ft for the 1-bedroom unit to 2,002 sq ft for the 5-bedroom apartment, and 4,768 sq ft for its largest penthouse. The developer said that premium units will have private lift lobbies, and all four penthouses will have private pools and private roof terraces.
Queen Peak’s developer said: “While market sentiment is buoyed by the recent recovery in sales, It has very strong qualities… and as such, we have improved confidence at this moment,” said Hao Yuan Investment
These two show flat openings have followed positive responses to new projects that rolled out last October.
Both Parc Riviera and Queens Peak are expected to get their temporary occupation permits at the end of 2020.