Property giant City Developments (CDL) has officially launched 368 Thomson today. The freehold residential development is located in the prime District 11 residential enclave and occupies the sites of the former Concorde Residences, Balestier Court and Bright Building.
It is a quick stroll to Novena MRT station and a stone’s throw away from the MacRitchie Reservoir. The development has a 36-storey tower with 157 apartment units. It also features Therma jet pools, children’s aqua treat areas, a gymnasium, a social lounge and a club house.
CDL said more than 85 per cent of the units have already been snapped up. It added that the price per square foot had increased marginally by 2 to 3 per cent since the previews last week. During the previews, the units were priced at an average of $1,350 per sq ft translating to a price tag which ranges from $918,000 for the one+study apartments to $4.4 million for the five-bedroom penthouses.
CDL said that the majority of buyers are Singaporeans with Permanent Residents and foreigners making up about 25 per cent of the buyers. CDL’s group general manager, Mr Chia Ngiang Hong, said: “With its prime District 11 location, freehold status and attractive pricing, 368 Thomson represents an excellent investment opportunity and also good rental potential.”
Source: Today, 16 Jul 2010