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Oxley’s The Verandah Residences Fully Sold Within Three Months

Oxley’s The Verandah Residences Fully Sold Within Three Months.

Oxley Holdings has achieved 100 percent sales at The Verandah Residences within three months since its official launch on 7 April.

With average unit prices at $1,795 psf, the 170-unit condominium generated a total revenue of $248.8 million for the homegrown property developer

The freehold project comprises 167 apartments and three two-storey strata townhouses. Its design is inspired by Singapore’s black and white colonial bungalows.

Unit sizes start from 452 sq ft for a one-bedroom up to 1,596 sq ft for a four-bedroom, while the townhouses are 2,153 sq ft each.

Oxley attributed the sales success to the project’s proximity to MRT stations, various eateries, major shopping malls as well as parks and nature trails such as Kent Ridge Park and The Southern Ridges.

Oxley executive chairman and CEO Ching Chiat Kwong noted that the sales “proved that the demand for quality projects with superb locations has been strong, and that Oxley is a trusted brand name to the market”.

“In return to the trust of our buyers, we will deliver the project in good quality and on time,” he added.

Oxley acquired the 89,620 sq ft site for $121 million or $964 psf per plot ratio last July. It holds a 100 percent stake in the project, which is situated at 231 Pasir Panjang Road in District 5.

Last weekend (23 – 24 June), Oxley opened the Riverfront Residences showflat for preview to crowds of potential buyers. Located in Hougang Avenue 7, the 1,472-unit residential project with six retail shops comprises one- to five-bedroom apartments from 463 sq ft to 1,905 sq ft, along with four-bedroom strata terrace houses measuring 2,109 sq ft. Prices start from $578,000 for the one-bedders.

This follows the launch of Affinity at Serangoon earlier this month, which saw 112 of the 300 units released sold at an average price of $1,575 psf.

Adapted from PropertyGuru, 28 June 2018.