Piccadilly Grand, a residential project jointly developed by City Developments Limited (CDL) and MCL Land, has sold 315 out of its 407 units, representing 77% of the total units, at an average selling price of S$2,150 per square foot.
In a joint statement on Sunday (May 8) evening, CDL and MCL Land said that 90% of the buyers are Singaporeans, with the remainder being permanent residents and foreigners from countries including India and Malaysia.
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The 99-year leasehold project, located on Northumberland Road, comprises three 23-storey towers. It also features 1,500 square meters of food and beverage and retail space, known as Piccadilly Galleria, as well as a 500-square-meter childcare center on the ground floor. The development is also directly linked to Farrer Park MRT station.
Prices for the apartments start from S$1.06 million for a one-bedroom unit, S$1.35 million for a two-bedroom, S$1.79 million for a three-bedroom, S$2.74 million for a four-bedroom dual-key unit, and over S$3 million for a 1,582 sq ft five-bedroom unit. Unit sizes range from 484 sq ft for a one-bedder to 1,679 sq ft for a five-bedroom unit with a private lift. The one-, two-, and three-bedroom unit types were the most popular during the launch weekend.
MCL Land CEO Tan Wee Hsien said this indicates that buyers are confident in Singapore’s economic and residential property market outlook.
CDL’s Group CEO Sherman Kwek said the “very positive” response to the project is a “strong testament” to the powerful combination of CDL and MCL Land’s expertise.
Last Friday, CDL’s shares closed at S$8.06, down 1.6%, ahead of the launch weekend.
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