What do experts say about Urban Treasure?
Expected to be completed in 2023, Urban Treasure is a new launch residential property developed by one of the prestige developers in Singapore, Fragrance Group. According to Ken Low, managing partner of SRI, Urban Treasures pricing is attractive and there is potential for future growth. Being close to PLQ is also a draw as the integrated development is part of Paya Lebar Central, which the URA has designated as a commercial hub in the eastern region.
Nicholas Mak, head of research & consultancy at ERA Realty said that the location of this condo nearby PLQ is a draw because this amalgamated development is part of Paya Lebar Central, which the URA has designated as a commercial hub in the eastern region. ERA's Mak agrees that there could be interest coming from who living in the landed and low-rise private housing development to the east of Urban Treasures but the project could also draw buyers from further afield. He said that there would be some buyers who are quite footloose, especially those for investment and are seeking developments that are considered to have good price appreciation or rental potential.
Ismail Gafoor, CEO of PropNex Realty, one of the three appointed marketing agencies of Urban Treasures, conducted a consumer workshop at Urban Treasures' Sale Gallery. He said that there had been quite a good crowd consideration with 80 people had registered and more than 50 people had shown up. The freehold tenure of developments attracted not only people who is living in the private housing estate nearby, for example at Jalan Punai, Jalan Rimau, Foo Kim Lin and Teo Kim Eng Roads, but also those from the established, private housing estates in District 15, namely Frankel and Opera estates as well.
Of the mix of 1-bedroom to 4-bedroom apartments at Urban Treasures Condo, there are about 48 residential units are 1-bedroom units or 1-bedroom premium units with areas from 452 to 517 sqft and 10 residential units are 4-bedroom premium units of 1,270 sqft. Most of the units in the condo are 2- and 3-bedroom units which come in classic or premium types. 2-bedroom units have areas from 646 to 721 sqft, while 3-bedroom units are 883 to 1,012 sqft.
P Aravindan, deputy CEO of Singapore-listed property developer, investor, and hotelier Fragrance Group said the units were designed to be very efficient. Because the development is designed as 2 12-storey blocks so they account for about 30% of the site area. He said that 70% of the site area is available for landscaping and facilities. SAA Architects, a member of Surbana Jurong Group, is the design architect, while Ecoplan Asia is the landscape architect for Urban Treasures.
"Lower tempo" is not a concern of Urban Treasure
Urban Treasures Residences was a real gem, according to James Koh, executive chairman, CEO and founder of Fragrance Group. It was near 2 MRT stations and amenities like eateries, supermarkets and schools were also in the vicinity. The project was just a 10-15 minute drive to Changi Airport, and another 10-15 minute drive to the CBD. He will keep going with his near year-end preview of Urban Treasures even though it is still a slower period. Koh said if their heart was set on buying a unit, they would commit to the purchase, nevertheless of where they are. PropNex’s Ismail added that the sales momentum switched to lower tempo in months at the end of the year. However, when a development was ready for launch, it was better to just roll it out rather than wait. The development should be launch soon to make a difference in terms of impact.
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URBAN TREASURE - A GEM IN THE HEART OF SINGAPORE
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