MORE than 10 units at Bintan's first seaside residential estate have been sold, mainly to expats living in Singapore, the company behind the project said yesterday.
The Pantai Indah estate is a gated community of 162 resort-style luxury villas on 13 hectares at Bintan Resort's Lagoi Bay. The project is being built by Singapore's BU Holdings and is designed by DP Architects.
BU Holdings soft-laun ched 28 villas in April and has sold about 40 per cent of them. Buyers of the villas, which go for between $700,000 and $1.8 million, are mostly expatriates based in Singapore looking for weekend homes, the company said. Most of the units sold so far are beachfront properties, which means they are at the pricer end of the scale.
Pantai Indah's selling point is that it is a 45-minute ferry ride from Tanah Merah Ferry Terminal in Singapore and offers buyers a change from city life, BU Holdings said.
The villas, on the north coast of Bintan Island, will have walking access to the new Lagoi Bay Village as well as upcoming resorts, shops and restaurants, it said.
Established hotels and resorts - such as the Banyan Tree, Angsana Hotel and Spa, Nirwana Gardens Hotel, Club Med and Bintan Lagoon Resorts - are a 10-minute drive away. The combined properties have 36 F&B establishments and four golf courses, BU Holdings said.
The villas have plot areas of 400, 500 and 800 square metres. Built-up areas range from 289 to 775 sq m.
Source: Business Times, 25 May 2010