CDL's Gramercy Park records healthy take-up

It sold 55% of its Phase 2 units launched on 30 March.

City Developments Limited's 174-unit luxury freehold residential development Gramercy Park along Grange Road achieved positive sales following the launch of its South Tower.

According to the group, the project's 87-unit North Tower in Phase 1 has already sold 80% of its units. Its South Tower, which was soft-launched on 30 March, sold 55% of the available units.

For Phase 1, the units in North Tower were sold at an average of over $2,600 psf. All 2-bedroom plus study units were sold and 3- and 4-bedroom units received great response from buyers. A 5,533 sq ft 5-bedroom Penthouse was sold for $16.88m.

For Phase 2, the units in South Tower are priced at an average of about $2,800 psf. Early bird prices start from $3.4m for a 2-bedroom plus study, $5.1m for a 3-bedroom, and $6.8m for a 4-bedroom type.

CDL Group general manager Chia Ngiang Hong said there is pent-up demand for compelling investment opportunities. With prices of high-end properties showing signs of bottoming out, there has been an increase in buying interest for luxury developments.

Also Read

Food factory at 30 & 32 Tuas Avenue 12 up for sale for $19.0m

CICT NPI rises 6.3% YoY to $293.7M in 1Q24

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit