More than 350 units of Bedok Residences sold on first day of launch
Bedok Residences set to inject new vibrancy to mature estate
News Release by Capitaland | 23 Nov 2011
Singapore, 23 November 2011 – CapitaLand Limited’s wholly-owned subsidiary CapitaLand Residential Singapore and CapitaMalls Asia Limited (SGX: JS8 and HKEx: 6813) today launched Bedok Residences, the newest mixed development in the heart of Bedok Town, one of the most popular mature residential estates in Singapore. This is a unique integrated development comprising eight blocks of 15-storey residential units, a shopping mall and a transportation hub. The 583 residential-unit development is located on a 24,904 square metre, 99-year leasehold site bounded by Bedok North Drive and New Changi Road.
Situated above the upcoming Bedok transportation hub, Bedok Residences has direct and seamless access to public transport system like MRT and buses. Residents will enjoy excellent connectivity to the CBD and other parts of Singapore with easy access to the East Coast Parkway and Pan Island Expressway. The residential blocks are placed along the North-South orientation, elevated from the exuberance of the new shopping mall by CapitaMalls Asia.
The extensively landscaped deck covering over 150,000 square feet, features recreational facilities such as a 50-metre infinity-edged lap pool and a lounge pavilion in a lush setting, achieved through the use of natural elements in treatment and design.
All units are designed as versatile living spaces, affording privacy, aesthetics and thoughtfully designed for maximum functionality and efficiency.
Mr Wong Heang Fine, CEO of CapitaLand Residential Singapore commented: “Bedok Residences is set to inject a new vibrancy to Bedok Central and enhance the lifestyles of residents in the East. A great deal of consideration has been given to the functionality of the internal layouts and recreational facilities to ensure that they will meet the needs and complement the lifestyles of the residents. Combined with the attractive location attributes of Bedok, we are confident that Bedok Residences will bring added value to its residents and homeowners, value that will grow and last through the years”.
Of the total 583 units, 450 units were released for sale today. As of 5 pm today, 350 units have been sold of which 15% are one-bedroom units, 28% are one bedroom + study units, 36% are two-bedroom units, 16% are three-bedroom units, 4% are four-bedroom units and 1% are penthouses. The average price per-square-foot is S$1,350.
Commenting on the encouraging performance, Mr Wong said: “The strong sales numbers demonstrate that the queue formed outside our show suite over the past few days consists of genuine prospective buyers. Those who queued managed to buy their choice units on the same day.”
Bedok Residences is developed by Brilliance Residential (1) Pte Ltd, a 50-50 joint venture between CapitaLand Residential Singapore and CapitaMalls Asia. CapitaLand Residential and CapitaMalls Asia jointly acquired the site at Bedok Central for S$788.9 million through a government land sales tender in July 2010. Temporary Occupation Permit for Bedok Residences is expected to be obtained in 2015.
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