News
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
view(s)

Take-up rate for UOL's Amber 45 rises to 65%

The 2-bedroom units are the most popular, CGS-CIMB said.

The take-up rate for UOL’s Amber 45 showflat has risen from 55-50% (139 units) in Mid-May to 65% at present, CGS-CIMB revealed. The brokerage said there is continued buyer interest in the development, which is slated for completion in 2021.

CGS-CIMB analyst Lock Mun Yee noted that smaller-sized 2-bedroom units (614-872 sqft) are the most popular. “Designed by ADDP Architect, Amber 45 is impressive with high-quality finishing and well thought and efficient layout, in our view,” she added.

Meanwhile, the 3-bedroom units range from 1,130-1,324 sqft whilst the largest configurations are the 4-bedroom units with 1,346-1,798 sqft. Buyers are largely Singaporeans and prices hit the average of $2,200 psf.

Lock said that following this success, UOL plans to release The Tre Ver (former Raintree Gardens en bloc site) in the third quarter of 2018. The 563,941-sqft site can house about 729 condos.

This land parcel was acquired in late-2016 at a lower-than-current land cost. “We estimate a breakeven cost of $1,200psf. Based on an estimated selling price of $1,400psf, UOL should generate a healthy PBT margin of c.15%,” she added.

This will continue to extend UOL’s residential income visibility, Lock said.
 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.