315 units of The Tapestry in Tampines snapped up

SOME 315 units, or 70 per cent, of the 450 units released of The Tapestry were snapped up over the weekend.

The average price per square foot is S$1,310.

On Sunday, The Tapestry's developer, City Developments Limited (CDL) said all unit types had a "good take-up rate", particularly the one-bedder and two-bedroom units.

The Tapestry @ Tampines, which has 861 units, is a 99-year leasehold property comprising seven 15-storey blocks, with unit sizes ranging from 441 sq ft for a one-bedroom unit to 1,765 sq ft for the largest five-bedroom, dual-key apartments with a study.

Prices for new launch @ Tampines by CDL start from S$596,000 for a one-bedder. The two-bedder units are going at S$796,000, and the three-bedders S$1.15 million.

Prices are S$1.65 million for the four-bedroom and S$2.1 million for the five-bedroom, dual-key with study apartments.

On Sunday, CDL told The Business Times that the remaining 411 units will be "released progressively", and the project is expected to be completed in 2021.

CDL said that 76 per cent of the buyers for the first launch are Singaporeans, while the remaining 24 per cent are permanent residents and foreigners from Malaysia, China, India, Indonesia and Hong Kong.

Among the buyers was Singapore paralympic swimmer and medallist Theresa Goh, who bought a two-bedroom premium unit.

The first-time homeowner plans to stay in it with her parents and four cats.

On March 15, Chia Ngiang Hong, CDL Group general manager, said that the firm had received "very strong enquiries" for the launch of The Tapestry condo.

He added that CDL expects "good take-up" from new home buyers, upgraders and investors.

The property, which is located at Tampines Street 86, is developed by Bellevue Properties, a wholly-owned subsidiary of CDL.

The Tapestry condo by CDL is the "first premium suburban condominium" to be launched this year and has over 50 facilities, including a 100m infinity pool, 24-hour gym, and a childcare centre, said CDL.

Homeowners at Tapestry condo will have the option to adopt a smart voice assistant which enables them to control most smart home devices by voice.

CDL closed at S$12.88 on Friday, down 31 cents, or 2.4 per cent.

Adapted from Business Time, March 26, 2018.


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