KEPPEL Group hopes to launch Reflections at Keppel Bay, its new waterfront project, soon at prices at least 25 per cent above those achieved at the next-door Caribbean at Keppel Bay.
The director of Keppel Land's Singapore residential arm, Mr Augustine Tan, said yesterday that the 1,160-unit development could cost between $1,500 and $2,000 per sq ft (psf). About 200 units will be launched in March or April, he said.
The 969-unit Caribbean was launched at about $800 psf in 2000, with prices reaching a high of $1,200 psf last year.
'There are now more amenities in the area, clear plans for Sentosa and VivoCity is nearby so prices there would be higher, at possibly up to $1,500 psf,' said a market source.
Reflections at Keppel Bay is designed by renowned architect Daniel Libeskind and features six undulating glass towers of 41 storeys and 24 storeys, as well as 11 blocks of six- to eight-storey villa apartments.
These 'beacons of light' and the 'necklace of pearl-like buildings' will act as the residential gateway to the bay, said Mr Libeskind.
The development - his first residential one in Asia - boasts a 100,000 sq ft pool, a 12,900 sq ft, three-storey penthouse on the 41st floor and 34 smaller penthouses. The 99-year leasehold condo, to be completed in 2011, offers mostly two- to three-bedroom units.
Mr Libeskind is in Singapore to unveil the project and attend the opening of a Singapore Art Museum exhibition of some of his most celebrated works.
Other developers are also hoping to push out their projects in a rising market.
Developer TG has released its SkyPark @ Somerset, which has 29 duplex units - or what it calls bungalows in the sky - in St Thomas Walk near the Orchard area. The units are large - starting from slightly over 3,000 sq ft for a three-bedroom unit - with prices heard to be about $1,600 psf. Nearly half have apparently already been sold to Indonesian and Hong Kong buyers.
Next up for sale is another city-living project - One Shenton by City Developments. A mass-market project Blossoms @ Woodleigh by Allgreen Properties will also be launched this weekend at $650 psf.
