Saturday, July 25, 2009

UOL sells 180 units of Meadows condo

UOL yesterday sold 180 of the 250 units made available at a private preview of its condominium Meadows@Peirce.

Units in the 479-unit freehold project in Upper Thomson Road were sold for an average of $880 per sq ft, the developer said. Of these, 87 three-bedroom units were sold for between $1.1 million and $1.5 million each.

The development, on what used to be the Green Meadows condominium site, comprises a 14-storey tower and three five-storey blocks. Units range from 517 sq ft one-bedroom apartments to 3,068 sq ft five-bedroom penthouses. Ten of the 49 penthouses were sold at yesterday’s preview.
UOL initially planned to release 150 units at the preview, but raised this to 250 due to demand, said group chief operating officer Liam Wee Sin.

At the official launch on Tuesday, 100 more units will be released at an average price of $880 psf. UOL is offering buyers an interest absorption scheme.

Mr Liam said that home sales have picked up strongly in recent months. ‘The successful preview demonstrates the pent-up demand in the Thomson area for a new development,’ he said.

Units at two 99-year leasehold condominiums – Far East Organization’s Centro Residences at Ang Mo Kio and TID’s Optima@Tanah Merah – are slated for release at previews next week.

Source : Business Times, 25 July 2009

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