www.shaproperty.com

Sold out: Mapletree Investments is said to have sold the last eight units at The Beacon at the weekend

Far East is understood to have priced The Clift around $1,050-$1,100 psf on average after discount. The 99-year leasehold project comprises 312 apartments in a 43-storey tower, with shops on the the ground floor. The residential units are mostly one and two-bedroom offerings, with or without lofts. One-bedders without lofts range in size from 495 to 527 sq ft. Two-bedders without lofts are between 775 sq ft and 818 sq ft.

At Sentosa Cove, City Developments and TID will begin previewing their 15-storey condo, The Oceanfront @ Sentosa Cove. The price of the 99-year leasehold project is expected to be $1,300 to $1,350 psf, CDL executive chairman Kwek Leng Beng said yesterday at a media briefing to launch the initial public offer of the CDL Hospitality Trusts.

Over in the Tomlinson/Cuscaden area, the group has sold almost all of the 70 apartments it has released so far at its upmarket St Regis Residences. The highest price achieved for the 999-year leasehold project is $3,030 psf, Mr Kwek said.

The plan is to release another 30 units soon, for which Mr Kwek said the price is unlikely to be increased. Beyond this, the group may wish to retain the remaining 73 apartments in the 173-unit project for lease, catering to the long-term stay market.

Mr Kwek reckons investors at St Regis Residences will enjoy a rental return of 6 per cent, compared with 4-5 per cent in the general Singapore market. Residents of St Regis Residences will be able to use the butler service from the St Regis Hotel being built next door.

CityDev is developing the St Regis Residences and the 299-room St Regis Hotel jointly with Hong Leong Holdings and TID.

Over in the Cantonment Road area, Mapletree Investments is said to have sold the last eight units at The Beacon at the weekend. The 24 storey condo, being built on a 99-year leasehold site formerly occupied by the Singapore Portworker's Union House, has 124 units. The average price is about $600 psf.